NexPoint Hospitality Trust Announces Resignation of Auditor

DALLAS and TORONTO, Nov. 28, 2023 /CNW/ -- NexPoint Hospitality Trust ("NHT" or the "REIT") (TSX-V: NHT.U) announced today that Frazier & Deeter, LLC ("F&D") resigned as auditor of NHT, effective November 27, 2023. F&D's resignation resulted from a position taken by CPA Ontario that, under certain circumstances, foreign accounting firms and their partners may be considered to be engaging in public accounting work in Ontario as a result of performing audits of Ontario reporting issuers thereby triggering a requirement to be licenced by CPA Ontario. The REIT has commenced a process to engage a successor auditor for the 2023 fiscal year.

In accordance with National Instrument 51-102 – Continuous Disclosure Obligations ("NI 51-102"), the REIT will file a Notice of Change of Auditor within 14 days of the date of resignation. To the REIT's knowledge, there were no "reportable events", "disagreements" or "unresolved issues" as such terms are defined in NI 51-102, between the REIT and F&D.

About NexPoint Hospitality Trust

NexPoint Hospitality Trust is a publicly traded real estate investment trust, with its Units listed on the TSX Venture Exchange under the ticker NHT.U. NHT is principally focused on acquiring, owning and operating well-located hospitality properties in the United States that offer a high current yield and in many cases are underperforming assets with the potential to increase in value through investments in capital improvements, a market-based recovery, brand repositioning, revenue enhancements, operational improvements, expense inefficiencies, and exploiting excess land or underutilized space. NHT owns 9 branded properties sponsored by Marriott, Hilton, Hyatt, and Intercontinental Hotels Group, located across the U.S. NHT is externally advised by NexPoint Real Estate Advisors VI, L.P. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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SOURCE NexPoint Hospitality Trust