Boykin shareholders approve merger

Boykin Lodging Company has announced that the Company’s common shareholders have approved and adopted the Braveheart Agreement
and Plan of Merger, dated as of May 19, 2006.  The merger is among Braveheart Investors LP,
Braveheart II Realty (Ohio), Braveheart II Properties Holding,
Braveheart II Properties Company, the Company and Boykin Hotel Properties. Braveheart Investors LP is an affiliate of Westmont Hospitality Group and
Cadim, Inc.

Approximately 90 percent of the Company’s common shares present and
voting at the special meeting approved the merger agreement, representing
approximately 64 percent of the total number of common shares outstanding and
entitled to vote.
  The Company expects to close the transactions contemplated by the merger
agreement as soon as practicable, pending the satisfaction or waiver of the
conditions set forth in the merger agreement, including the payment of certain
pre-closing dividends previously announced.  Under the terms of the merger
agreement, each outstanding common share will be converted into the right to
receive $11.00 in cash, less the amount of any pre-closing dividends paid with
respect to the common shares, which are expected to be $3.37 per common share
in the aggregate.  Assuming the aggregate pre-closing dividends paid with
respect to the common shares are $3.37, each common shareholder will be
entitled to receive in the merger $7.63 for each common share held.  Each
limited partner in Boykin Hotel Properties, L.P., the operating partnership of
the Company, will also be entitled to receive, subject to compliance with
certain procedures, $11.00 per unit in cash, less the amount of any pre-
closing distributions with respect to the common units, which are expected to
be $3.37 per common unit in the aggregate. Each outstanding depositary share
representing a 1/10 fractional interest in a share of the Company’s 10-1/2%
Class A Cumulative Preferred Shares, Series 2002-A, will be converted into the
right to receive a cash payment of $25.00 per share plus all accrued and
unpaid dividends existing immediately prior to the effective time of the
merger.
  As previously announced, immediately prior to the closing of the
transactions contemplated by the merger agreement, the Company’s interests in
the Pink Shell Beach Resort and Spa and the Banana Bay Resort & Marina -
Marathon will be sold to entities controlled by Robert W. Boykin, Chairman of
the Board and Chief Executive Officer of the Company.
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