Procaccianti Hotel REIT prorates Q1 2024 share repurchases at 9.8% due to insufficient DRIP funds

PROCACCIANTI HOTEL REIT, INC.

Board found funding limitation reached for Q1 2024 share repurchase requests.
Insufficient net proceeds from DRIP to fully fund all repurchase requests.
Deceased stockholders' shares repurchased in full; no other priority requests.
Remaining repurchase requests honored at proration of approximately 9.8%.
Unfulfilled requests automatically carried to next repurchase period unless withdrawn.

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