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Boykin Lodging Company Declares Regular Quarterly Cash Dividend

Boykin Lodging Company (NYSE: BOY) today announced that the Board of Directors declared a regular quarterly cash dividend of $0.47 per common share payable on February 4, 1999, to shareholders of record at the close of business on December 31, 1998.

“This is the ninth consecutive quarterly cash dividend paid since Boykin Lodging became public in November 1996,” said Robert W. Boykin, chairman, president, and chief executive officer. “In 1998 we increased the quarterly dividend by 4.4 percent. In 1999 we expect hotel performance to continue to improve following the recent completion of numerous hotel renovations.”

Boykin Lodging Company is a multitenant real estate investment trust which focuses on the acquisition of full-service, upscale commercial and resort hotels. The company currently owns 31 full-service commercial and resort hotels containing a total of 8,689 rooms located in California, Colorado, Florida, Idaho, Indiana, Maryland, Minnesota, Missouri, Nebraska, New York, New Jersey, North Carolina, Tennessee, Ohio, Oregon, and Washington. Since January 1998, Boykin has increased its portfolio by 14 hotels and a total of 4,121 rooms.