Equity Inns Completes Purchase of Three Hotels

    Business Editors/Real Estate Writers/Travel & Hospitality Writers

    GERMANTOWN, Tenn.--(BUSINESS WIRE)--May 3, 2005--Equity Inns, Inc. (NYSE: ENN), a hotel real estate investment trust (REIT), today announced that it has finalized its purchase of three hotels in two separate transactions. Equity Inns completed the purchase of two hotels in Jacksonville, Florida, including an 81-room Marriott Courtyard and a 78-suite Residence Inns by Marriott, for approximately $12.5 million. Separately, the Company closed on the acquisition of a 93-room Courtyard by Marriott in Bowling Green, Kentucky, for $6.9 million. Equity Inns expects both transactions to have a positive impact on its 2005 funds from operations.
    As previously disclosed, the two properties in Jacksonville, Florida, will be managed by MMI Hotel Group and the hotel in Bowling Green, Kentucky, will be managed by LinGate Hospitality.

    Forward-looking statements are not guarantees of future performance and involve numerous risks and uncertainties which may cause our actual financial condition, results of operation and performance to be materially different from the results of expectations expressed or implied by such statements. General economic conditions, future acts of terrorism or war, risks associated with the hotel and hospitality business, the availability of capital, risks associated with our debt financing, hotel operating risks and numerous other factors, may affect our future results and performance and achievements. These risks and uncertainties are described in greater detail in our periodic filings with the United States Securities and Exchange Commission (SEC). We undertake no obligation and do not intend to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. Although we believe our current expectations to be based upon reasonable assumptions, we can give no assurance that our expectations will be attained or that actual results will not differ materially.

    About Equity Inns

    Equity Inns, Inc. is a self-advised REIT that focuses on the upscale extended stay, all-suite and midscale limited-service segments of the hotel industry. The Company owns 113 hotels with 13,763 rooms located in 34 states. For more information about Equity Inns, visit the Company's Web site at www.equityinns.com.

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CONTACT: Equity Inns, Inc. Howard Silver/Mitch Collins, 901-754-7774 OR Integrated Corporate Relations, Inc. Brad Cohen, 203-682-8211

KEYWORD: TENNESSEE KENTUCKY FLORIDA INDUSTRY KEYWORD: BANKING TRAVEL PRODUCT MERGERS/ACQ SOURCE: Equity Inns, Inc.

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