Estimated Net Asset Value

We are pleased to report that Carey Watermark Investors (CWI 1) has announced its third interim Net Asset Value (NAV) as of December 31, 2015 to be $10.66 per share, representing an increase over the prior NAV of $10.30 as of September 30, 2014.

For additional information regarding the calculation of the NAV, please refer to the Form 8-K filed by CWI 1 with the SEC on March 15, 2016.