Chicago – Watermark Lodging Trust, Inc. (“Watermark,” “WLT” or the “Company”) today announced that, at a Special Meeting of Stockholders, the proposed acquisition of WLT by private real estate funds managed by Brookfield was approved by its stockholders. Under the terms of the previously announced merger transaction, WLT common stockholders will receive cash consideration of $6.768 per Class A share and $6.699 per Class T share. The transaction is anticipated to close on or about October 21, 2022; however, closing remains subject to the terms and conditions of the merger agreement and there can be no assurance as to the exact closing date.

“I would like to thank our stockholders for their support of this transaction and the entire Watermark team for their hard work and commitment throughout this process,” said Michael Medzigian, Chairman and Chief Executive Officer of Watermark. “With this critical step now accomplished, we look forward to completing the transaction with Brookfield and delivering cash liquidity to our stockholders.”

The final voting results will be reported in a Form 8-K to be filed with the Securities and Exchange Commission after certification by Watermark’s inspector of election.

About Watermark Lodging Trust, Inc.

Watermark Lodging Trust, Inc. is a publicly registered, self-managed, non-traded real estate investment trust (REIT) that invests in, manages and seeks to enhance the value of interests in lodging and lodging-related properties. Over the past decade, Watermark and its predecessor companies (Carey Watermark Investors Inc., Carey Watermark Investors 2 Inc. and Watermark Capital Partners, LLC) have been among the largest and most active investors in the lodging industry creating a portfolio of high-quality assets in high barrier to entry and growth markets. www.watermarklodging.com