Current News

EAGLE HOSPITALITY'S SECURED LENDER TAKES OWNERSHIP OF 13 HOTELS

Purchase, N.Y. -- December 11, 2012 -- Eagle Hospitality Properties Trust, Inc. ("Eagle Hospitality") announced today that its secured lender, an affiliate of Blackstone Real Estate Partners VII ("Blackstone"), has taken ownership of Eagle Hospitality's entire portfolio of 13 hotels.

Eagle Hospitality entered into an agreement with Blackstone on September 7, 2012 that delayed foreclosure on its 13 hotels, permitted Eagle Hospitality to attempt to sell the hotels and provided Eagle Hospitality the right to repay its secured debt at a discount.

Eagle Hospitality, with the assistance of its chief restructuring officer and Lazard Freres & Co. LLC, engaged in an extensive process to sell its assets at an aggregate price that would exceed the discounted payoff amount.

Eagle Hospitality was unable to secure one or more definitive contracts to sell its assets by December 10, 2012, which triggered the secured lender's remedies. Pursuant to those remedies, Blackstone has taken ownership and control of substantially all of Eagle Hospitality's assets, including all of its operating and real estate assets.

With limited remaining assets, all of which will be used to wind up its affairs, and no remaining real estate or operating assets, Eagle Hospitality expects that no distributions will be made, now or in the future, to the holders of Eagle Hospitality's 8.25% Series A Cumulative Redeemable Preferred Shares or to the other equity holders of Eagle Hospitality or its operating partnership, EHP Operating Partnership, L.P.

MEDIA CONTACT:
Sitrick And Company
Lance Ignon
Thom Weidlich
(212) 573-6100

EAGLE HOSPITALITY PROPERTIES TRUST, INC.
UPDATE ON THIRD QUARTER 2012 DIVIDEND

Purchase, NY (September 17, 2012) - Eagle Hospitality Properties Trust, Inc. today announced that it will not declare a third quarter 2012 dividend with respect to the 8.25% Series A Cumulative Redeemable Preferred Shares in accordance with its financing documents.

Please refer to the Articles of Incorporation of Eagle Hospitality Properties Trust, Inc. (f/k/a AP AIMCAP Corporation) and Articles Supplementary of Eagle Hospitality Properties Trust, Inc. (f/k/a AP AIMCAP Corporation) for a description of the 8.25% Series A Cumulative Redeemable Preferred Shares.

Certain information relating to the 8.25% Series A Cumulative Redeemable Preferred Shares can be found on the company's website at www.eaglehospitality.com.

CONTACT: Eagle Hospitality Properties Trust, Inc.
Patti Hawkins, Investor Relations, (214) 295-3607

Eagle Hospitality Seeks to Sell Its 13 Hotels
3,538 Rooms Operating Under Premium Brands in Desirable Markets

Purchase, N.Y. - September 10, 2012 - Eagle Hospitality Properties Trust ("Eagle Hospitality") announced today that it has reached an agreement with its secured lender that allows the Company to sell its 13 premium-branded hotels and repay its secured debt at a discount. Eagle Hospitality will be considering offers from investors interested in some or all of the hotels in the portfolio.

"The Embassy Suites, Hilton, Marriott and Hyatt-branded properties are experiencing excellent growth and are well-positioned in their markets," said Marc Beilinson, Managing Director of Beilinson Advisory Group and Eagle Hospitality's Chief Restructuring Officer. "Purchasers will have the flexibility to appoint their own management at 11 of the 13 properties without termination expense."

Located in desirable Midwestern markets including Chicago, Cincinnati, Columbus and Cleveland, and in attractive growth markets such as Boston and Denver, the properties have been well-maintained with $77 million in capital expenditures since 2008. For the trailing 12 months ended July 2012, the hotels as a portfolio achieved:

• An average daily rate of $126
• An average occupancy rate of 75.4%
• Growth of revenue per available room (RevPAR) of 7.1% and
• EBITDA growth of 15.9%.

"This is a tremendous opportunity for investors to acquire high-performing assets amid a historically low-cost market for borrowing," Beilinson said. "The hotels are poised to continue growing revenue and earnings and to exploit certain revenue enhancement and expense savings opportunities."

The Company has retained Lazard Frères & Co. LLC as its exclusive financial advisor. Interested parties should contact Phillip Summers at (212) 632-6296 or summersp@lazard.com.

Eagle Hospitality's Properties:
Cincinnati Landmark Marriott (321 rooms)
Chicago Marriott Southwest at Burr Ridge (184 rooms)
Hyatt Regency Rochester (336 rooms)
Embassy Suites Hotel Columbus/Dublin (284 rooms)
Embassy Suites Hotel Cleveland/Rockside (271 rooms)
Embassy Suites Hotel Boston at Logan International Airport (273 rooms)
Embassy Suites Hotel Denver-International Airport (174 rooms)
Embassy Suites Hotel Phoenix-Scottsdale (270 rooms)
Embassy Suites Hotel Tampa-Airport/Westshore (243 rooms)
Embassy Suites Hotel & Casino San Juan (299 rooms)
Embassy Suites Hotel Cincinnati-RiverCenter (226 rooms)
Hilton Glendale (351 rooms)
Hilton Cincinnati Airport (306 rooms)

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Media Contact
Sitrick And Company
Lance Ignon
Thom Weidlich
(212) 573-6100

EAGLE HOSPITALITY PROPERTIES TRUST, INC. ANNOUNCES RESULTS OF ITS 2012 ANNUAL MEETING OF STOCKHOLDERS

PURCHASE, NY, June 14, 2012 - Eagle Hospitality Properties Trust, Inc., a Maryland corporation (the "Company"), today announced that on June 12, 2012 it held its 2012 Annual Meeting of Stockholders in New York (the "Annual Meeting"). At the Annual Meeting, each of the five nominees for election by the sole holder of the Company's common stock, $0.01 par value per share, was elected to hold office until the next annual meeting of stockholders and until his successor is duly elected and qualifies.

At the Annual Meeting, a majority of the Company's outstanding 8.25% Series A Cumulative Redeemable Preferred Shares, $0.01 par value per share ("Series A Preferred Shares"), was not present, in person or by proxy, and, as a result, a quorum was not present for the purpose of electing two directors to the Company's Board of Directors (the "Preferred Directors") pursuant to the terms of the Series A Preferred Shares. Therefore and in accordance with Maryland law, Lauren Krueger and Andrew Sole, the current Preferred Directors, will continue to serve until their successors are duly elected and qualify, or until all accumulated dividends on the Series A Preferred Shares are paid. Ms. Krueger was elected as a Preferred Director at the 2011 Annual Meeting of Stockholders and Mr. Sole replaced Martin J. Bienenstock as a Preferred Director on May 14, 2012.

CONTACT: Eagle Hospitality Properties Trust, Inc.
Patti Hawkins, Investor Relations, (214) 295-3607

EAGLE HOSPITALITY PROPERTIES TRUST, INC. UPDATE ON SECOND QUARTER 2012 DIVIDEND

Purchase, NY (June 7, 2012) - Eagle Hospitality Properties Trust, Inc. today announced that it will not declare a second quarter 2012 dividend with respect to the 8.25% Series A Cumulative Redeemable Preferred Shares due to the continuation of the depressed economic environment for hotel operations.

Please refer to the Articles of Incorporation of Eagle Hospitality Properties Trust, Inc. (f/k/a AP AIMCAP Corporation) and Articles Supplementary of Eagle Hospitality Properties Trust, Inc. (f/k/a AP AIMCAP Corporation) for a description of the 8.25% Series A Cumulative Redeemable Preferred Shares.

Certain information relating to the 8.25% Series A Cumulative Redeemable Preferred Shares can be found on the company's website at www.eaglehospitality.com.

CONTACT: Eagle Hospitality Properties Trust, Inc.
Patti Hawkins, Investor Relations, (214) 295-3607

EAGLE HOSPITALITY PROPERTIES TRUST, INC. UPDATE ON PREFERRED DIRECTOR NOMINEES

Purchase, NY (May 23, 2012) - Eagle Hospitality Properties Trust, Inc., a Maryland corporation (the "Company"), has received nominations from Esopus Creek Value Series Fund LP ("Esopus") of two individuals for election to the Board of Directors of the Company, pursuant to the terms of the Company's 8.25% Series A Cumulative Redeemable Preferred Shares, $0.01 par value per share (the "Preferred Directors"). The names of and biographical information for the two nominees are listed below. The information was provided to the Company by Esopus and has not been independently verified by the Company. Ms. Krueger was elected as a Preferred Director at the 2011 Annual Meeting of Stockholders and Mr. Sole replaced Martin J. Bienenstock as a Preferred Director on May 14, 2012.

No other nominations for Preferred Director were received by May 20, 2012, the extended deadline for submission of nominees, and therefore no other nominees for Preferred Directors will be considered at the Annual Meeting.

As previously noticed, the Annual Meeting will be held on Tuesday, June 12, 2012, at 11:00 a.m., local time, in Conference Room 37D at the offices of Skadden, Arps, Slate, Meagher & Flom LLP, Four Times Square, New York, New York 10036. The Company is not soliciting or requesting proxies.

1. Lauren Krueger

Ms. Krueger, age 37, is a managing member and joined Esopus Creek Advisors LLC, the general partner of Esopus in April 2010 and has been a Director of the Company since its 2011 Annual Meeting. Most recently, Ms. Krueger was a vice president in the credit-related opportunities unit of D.E. Shaw Group, a global investment and technology development firm with approximately $19 billion in investment capital. She joined the D.E. Shaw Group in 2003 and became a vice president in 2006. During her tenure at the D.E. Shaw Group, Ms. Krueger invested in distressed and deep value securities, in both the public and private markets. She served on the Board of Directors and as the Chief Restructuring Officer of FAO Schwarz Inc., a prominent toy retailer, and on the Board of Directors of The Boyds Collection, LTD. (private equity holdings of the D.E. Shaw Group). Prior to her work at the D.E. Shaw Group, Ms. Krueger was an associate in the restructuring group at Lazard Frères & Co. LLC, an investment bank, from 2002 to 2003. From October 2006 until March 2010, Ms. Krueger served on the Board of Kid Brands, Inc. (formerly known as Russ Berrie and Company, Inc.), a public company that through its subsidiaries, designs and markets branded infant and juvenile products, where she was a member of the executive and compensation committees. Ms. Krueger received her MBA from Columbia University, where she was a member of the Beta Gamma Sigma honor society, and her A.B. in Economics from Princeton University.

2. Andrew L. Sole

Mr. Sole is founder and managing member of Esopus Creek Advisors LLC, the general partner of Esopus. Prior to the founding of Esopus in August 2005, Mr. Sole was a managing member at two predecessor funds, Esopus Creek Partners LLC and Esopus Creek Capital LLC, from March 2003 until July 2005. Mr. Sole has over twenty years of investment management experience, including investments in distressed and non-distressed assets. During his tenure at Esopus, Mr. Sole has represented the Fund in various bankruptcy cases including the Official Creditors Committees of Refco Inc., Fedders Inc., and Six Flags, Inc. and has served on the Official Committee of Equity Holders in the USG Corp. bankruptcy case. Mr. Sole is a licensed attorney in the State of New York. He received his J.D. from the Benjamin N. Cardozo School of Law at Yeshiva University where he graduated cum laude and was a member of the Order of the Coif honor society. Mr. Sole received his B.S. in Mathematics from Union College in Schenectady, New York.

CONTACT: Eagle Hospitality Properties Trust, Inc.
Patti Hawkins, Investor Relations, (214) 295-3607

EAGLE HOSPITALITY PROPERTIES TRUST, INC. HIRES MARC BEILINSON AS CHIEF RESTRUCTURING OFFICER

PURCHASE, NY (May 21, 2012) - Eagle Hospitality Properties Trust, Inc. today announced that it has hired Marc Beilinson as its Chief Restructuring Officer.

Mr. Beilinson is the Managing Partner of Beilinson Advisory Group, a financial restructuring and hospitality advisory group that specializes in assisting distressed companies. He recently served as the Chief Restructuring Officer/CEO of Innkeepers USA, a hotel company comprising approximately 10,000 rooms, and held this position since November 2008. In 2007, Mr. Beilinson retired from Pachulski, Stang, Ziehl & Jones, a nationally recognized boutique law firm specializing in corporate reorganization, where he had practiced since 1992. During Mr. Beilinson's 25years of practice, he spearheaded the operational and financial restructuring of nationally recognized companies such as American Rice, LogoAthelics, TreeSweet Juice Company, Coco's restaurants, Carrow's restaurants, General Cinemas, Loews Cineplex, Wherehouse Entertainment and DirecTV Latin America. Throughout his career, Mr. Beilinson has been active in the restructuring of complex commercial and retail real estate portfolios throughout the United States and has also specialized in restructuring retail chains.

Information regarding the company can be found on its website at www.eaglehospitality.com.

CONTACT: Eagle Hospitality Properties Trust, Inc.
Patti Hawkins, (214) 295-3607

EAGLE HOSPITALITY PROPERTIES TRUST, INC. ANNOUNCES RESIGNATION OF MARTIN J. BIENENSTOCK AND ELECTION OF ANDREW L. SOLE

PURCHASE, NEW YORK, May 15, 2012 - Eagle Hospitality Properties Trust, Inc., a Maryland corporation (the "Company"), announced that Martin J. Bienenstock notified the Board of Directors of the Company yesterday that he was resigning from the Board effective immediately because of a change in his employment. Lauren Krueger, managing member of Esopus Creek Advisors LLC and the remaining director of the Company elected by the holders of Company's 8.25% Series A Cumulative Redeemable Preferred Shares, has elected Andrew L. Sole to fill the vacancy effective immediately. Mr. Sole's qualifications, as provided to the Company by Ms. Krueger, are set forth below. Esopus Creek Value Series Fund LP ("Esopus" or "Fund") notified the Board that it plans to nominate Mr. Sole, along with Ms. Krueger, for re-election at the Company's 2012 Annual Meeting of Stockholders.

Mr. Sole is founder and managing member of Esopus Creek Advisors LLC, the general partner of Esopus. Prior to the founding of Esopus in August 2005, Mr. Sole was a managing member at two predecessor funds, Esopus Creek Partners LLC and Esopus Creek Capital LLC, from March 2003 until July 2005. Mr. Sole has over twenty years of investment management experience, including investments in distressed and non-distressed assets. During his tenure at Esopus, Mr. Sole has represented the Fund in various bankruptcy cases including the Official Creditors Committees of Refco Inc., Fedders Inc., and Six Flags, Inc. and has served on the Official Committee of Equity Holders in the USG Corp. bankruptcy case. Mr. Sole is a licensed attorney in the State of New York. He received his J.D. from the Benjamin N. Cardozo School of Law at Yeshiva University where he graduated cum laude and was a member of the Order of the Coif honor society. Mr. Sole received his B.S. in Mathematics from Union College in Schenectady, New York.

CONTACT: Eagle Hospitality Properties Trust, Inc.
Patti Hawkins, Investor Relations, (214) 295-3607

Eagle Hospitality Properties Trust, Inc. Sets June 2012 as date of annual meeting of stockholders

PURCHASE, NY April 25, 2012 - Eagle Hospitality Properties Trust, Inc., a Maryland corporation (the "Company"), today announced the date of the 2012 Annual Meeting of Stockholders (the "Annual Meeting"). The Annual Meeting will be held on Tuesday, June 12, 2012, at 11:00 a.m., local time, in Conference Room 37D at the offices of Skadden, Arps, Slate, Meagher & Flom LLP, Four Times Square, New York, New York 10036. The Board of Directors has fixed the close of business on April 24, 2012 as the record date for the determination of stockholders of the Company entitled to notice of, and to vote at, the Annual Meeting.

The purposes of the Annual Meeting are: (1) for the holders of the Company's 8.25% Series A Cumulative Redeemable Preferred Shares ("Series A Preferred Shares") to elect two directors to the Company's Board of Directors; (2) for the holders of the Company's common stock, $0.01 par value per share, to elect five directors to the Company's Board of Directors; and (3) to transact such other business as may properly come before the Annual Meeting or any adjournment or postponement thereof.

The Board of Directors has extended the time period permitted in the Bylaws of the Company for nominations for director by the holders of Series A Preferred Shares from ten days from this public announcement to the close of business on May 20, 2012. Such nominations should be sent to the Secretary of the Company at 2 Manhattanville Road, Purchase, New York 10577. Any stockholder's nomination shall include (1) the name, age and address of the stockholder and the nominee, a summary of the qualifications of the nominee to serve as a director and a statEement of the number of Series A Preferred Shares that are owned beneficially or of record by the stockholder and the nominee; (2) a certificate from the nominee confirming his or her willingness to serve as a director and that he or she meets the director qualification requirements set forth in the Bylaws of the Company; and (3) any other information required by the Bylaws of the Company.

Eagle Hospitality Properties Trust, Inc. is not soliciting proxies in connection with the Annual Meeting, and holders of Series A Preferred Shares are requested not to send a proxy to Eagle Hospitality Properties Trust, Inc. in connection with the Annual Meeting.

Please refer to the charter of Eagle Hospitality Properties Trust, Inc. (f/k/a AP AIMCAP Corporation), including the Articles Supplementary of Eagle Hospitality Properties Trust, Inc. (f/k/a AP AIMCAP Corporation) for a description of the Series A Preferred Shares and to the Bylaws for a description of the procedures for nominating a director. A copy of the charter and Bylaws, and certain information relating to the Series A Preferred Shares, can be found on the Company's website at www.eaglehospitality.com.

CONTACT: Eagle Hospitality Properties Trust, Inc.
Patti Hawkins, Investor Relations, (214) 295-3607

Eagle Hospitality Properties Trust, Inc. holds meeting with the Federal Reserve Bank of New York

Request restructuring of loan for Eagle's hotel properties

PURCHASE, NY - March 30, 2012 - Representatives of Eagle Hospitality Properties Trust, Inc. ("Eagle") announced today that the Federal Reserve Bank of New York ("FRBNY") had granted them a meeting regarding their request to restructure a portfolio of commercial real estate loans secured by Eagle's hotel properties and related assets. At the meeting, a possible means of restructuring was discussed between FRBNY and Eagle. The loans, which mature in September 2012, were acquired by FRBNY from Bear Stearns as part of the United States government's acquisition of certain Bear Stearns' assets in JPMorgan Chase's takeover of Bear Stearns in 2008.

A restructuring of the loans could be beneficial for all the loan parties and to third parties, including investors and hotel workers, whose livelihood and investments are tied to the successful operation of the underlying hotel properties.

While Eagle was encouraged by its discussions with FRBNY, there is no restructuring agreement in place. Therefore, Eagle, working with the Business Solutions & Governance Department at Dewey & LeBoeuf, is simultaneously exploring all available alternatives and strategies to restructure the loans, including a potential chapter 11 bankruptcy case. It remains Eagle's hopes that all litigation scenarios will be avoided.

Certain information relating to Eagle can be found on its website at www.eaglehospitality.com.

CONTACT: Eagle Hospitality Properties Trust, Inc.
Patti Hawkins, Investor Relations, (214) 295-3607

EAGLE HOSPITALITY PROPERTIES TRUST, INC. UPDATE ON FIRST QUARTER 2012 DIVIDEND

Purchase, NY (March 15, 2012) - Eagle Hospitality Properties Trust, Inc. today announced that it will not declare a first quarter 2012 dividend with respect to the 8.25% Series A Cumulative Redeemable Preferred Shares due to the continuation of the depressed economic environment for hotel operations.

Please refer to the Articles of Incorporation of Eagle Hospitality Properties Trust, Inc. (f/k/a AP AIMCAP Corporation) and Articles Supplementary of Eagle Hospitality Properties Trust, Inc. (f/k/a AP AIMCAP Corporation) for a description of the 8.25% Series A Cumulative Redeemable Preferred Shares.

Certain information relating to the 8.25% Series A Cumulative Redeemable Preferred Shares can be found on the company's website at www.eaglehospitality.com.

CONTACT: Eagle Hospitality Properties Trust, Inc.
Patti Hawkins, Investor Relations, (214) 295-3607

EAGLE HOSPITALITY PROPERTIES TRUST, INC. ENGAGEMENT OF DEWEY & LEBOEUF LLP

PURCHASE, NY (March 14, 2012) -- Eagle Hospitality Properties Trust, Inc. today announced that it has engaged the law firm of Dewey & LeBoeuf LLP to evaluate strategic alternatives for the Company. Martin Bienenstock will serve as lead counsel for the engagement. Mr. Bienenstock is chair of the firm's Business Solutions & Governance Department, chair of the firm's Consumer Financial Services Group and a member of the Executive Committee. Mr. Bienenstock is a director of the Company, who was elected by the holders of the Company's 8.25% Series A Cumulative Redeemable Preferred Shares.

CONTACT: Eagle Hospitality Properties Trust, Inc.
Investor Relations, (214) 295-3607

EAGLE HOSPITALITY PROPERTIES TRUST, INC. ANNOUNCES THAT THE HOLDERS OF ITS SERIES A PREFERRED SHARES ELECT TWO DIRECTORS TO THE BOARD

PURCHASE, NY, July 12, 2011 - Eagle Hospitality Properties Trust, Inc., a Maryland corporation (the "Company"), today announced that on June 28, 2011 it resumed its 2011 Annual Meeting of Stockholders in New York, New York (the "Resumed Annual Meeting"), which was originally held and adjourned on April 12, 2011. At the Resumed Annual Meeting, a quorum of the Company's outstanding 8.25% Series A Cumulative Redeemable Preferred Shares, $0.01 par value per share ("Series A Preferred Shares"), was present, in person or by proxy, and each of Martin J. Bienenstock and Lauren A. Krueger was elected to hold office until the Company's next annual meeting of stockholders and until his or her successor is duly elected and qualifies or until all dividends accumulated on the Series A Preferred Shares have been paid or set aside for payment.

CONTACT: Eagle Hospitality Properties Trust, Inc.
Patti Hawkins, Investor Relations, (214) 295-3607

Eagle Hospitality Documents

Final Eagle Preferred Fact Sheet
Eagle Charter
Eagle Bylaws

Previous Press Releases

March 18, 2010 - EAGLE HOSPITALITY PROPERTIES TRUST, INC. UPDATE ON FIRST QUARTER 2011 DIVIDEND

March 1, 2011 - EAGLE HOSPITALITY PROPERTIES TRUST, INC. SETS APRIL 12, 2011 AS DATE OF ANNUAL MEETING OF STOCKHOLDERS

April 7, 2011 - EAGLE HOSPITALITY PROPERTIES TRUST, INC. UPDATE ON PREFERRED DIRECTOR NOMINEES

April 22, 2011 - EAGLE HOSPITALITY PROPERTIES TRUST, INC. ADJOURNS ANNUAL MEETING OF STOCKHOLDERS

June 17, 2011 - EAGLE HOSPITALITY PROPERTIES TRUST, INC. UPDATE ON SECOND QUARTER 2011 DIVIDEND

September 13, 2011 - EAGLE HOSPITALITY PROPERTIES TRUST, INC. UPDATE ON THIRD QUARTER 2011 DIVIDEND

December 15, 2011 - EAGLE HOSPITALITY PROPERTIES TRUST, INC. UPDATE ON FOURTH QUARTER 2011 DIVIDEND