Exhibit 99.1

UNAUDITED PRO FORMA CONDENSED CONSOLIDATED FINANCIAL INFORMATION

Our pro forma condensed consolidated balance sheet as of March 31, 2013 has been prepared as if the significant disposition of the investment described in Note 3 had occurred as of March 31, 2013. Our pro forma condensed consolidated statements of operations for the year ended December 31, 2012 and three months ended March 31, 2013 have been prepared based on our historical financial statements as if the significant disposition and significant investments and related financings, described in Notes 2 and 3, had occurred on January 1, 2012. Pro forma adjustments are intended to reflect what the effect would have been had we held our ownership interest as of January 1, 2012 on amounts that have been recorded in the historical condensed consolidated statements of operations. In our opinion, all adjustments necessary to reflect the effects of these investments have been made. The pro forma condensed consolidated financial information should be read in conjunction with the historical condensed consolidated financial statements and notes thereto of our Annual Report on Form 10-K for the year ended December 31, 2012 and our Quarterly Report on Form 10-Q for the three months ended March 31, 2013.

The pro forma information is not necessarily indicative of our financial condition or results of operations had the investments occurred on January 1, 2012, nor are they necessarily indicative of our financial position, cash flows or results of operations of future periods. In addition, the provisional accounting is preliminary and therefore subject to change. Any such changes could have a material effect on the financial statements.

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CAREY WATERMARK INVESTORS INCORPORATED

PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET (UNAUDITED)

March 31, 2013

(in thousands)

The accompanying notes are an integral part of these pro forma condensed consolidated financial statements.

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CAREY WATERMARK INVESTORS INCORPORATED

PRO FORMA CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS (UNAUDITED)

For the Year Ended December 31, 2012

(in thousands except share and per share amounts)

The accompanying notes are an integral part of these pro forma condensed consolidated financial statements.

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CAREY WATERMARK INVESTORS INCORPORATED

PRO FORMA CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS (UNAUDITED)

For the Three Months Ended March 31, 2013

(in thousands except share and per share amounts)

The accompanying notes are an integral part of these pro forma condensed consolidated financial statements.

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CAREY WATERMARK INVESTORS INCORPORATED

NOTES TO PRO FORMA CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED)

Note 1. Basis of Presentation

The pro forma condensed consolidated statement of operations for the year ended December 31, 2012 was derived from the historical audited consolidated financial statements as of and for the year ended December 31, 2012, included in our Annual Report on Form 10-K for the year ended December 31, 2012. The pro forma condensed consolidated balance sheet as of March 31, 2013 and the pro forma condensed consolidated statement of operations for the three months ended March 31, 2013 were derived from the unaudited consolidated financial statements included in our Quarterly Report on Form 10-Q for the three months ended March 31, 2013.

Note 2. Historical Acquisitions

2012 Acquisitions

On May 31, 2012, June 8, 2012, July 9, 2012 and December 6, 2012, we acquired controlling interests in four hotels: Hampton Inn Boston Braintree, Hilton Garden Inn New Orleans French Quarter/CBD, Lake Arrowhead Resort and Spa, and Courtyard San Diego Mission Valley, respectively. Additionally, on October 3, 2012, we entered into the Westin Atlanta Venture, which we account for under the equity method of accounting (collectively, our “2012 Acquisitions”).

Our 2012 Acquisitions are reflected in the historical condensed consolidated statement of operations for the duration of the three months ended March 31, 2013 and for a portion of the year ended December 31, 2012, reflecting their results of operations from their respective dates of acquisition through December 31, 2012. We made pro forma adjustments (Note 3, adjustments B through K) to reflect the impact on our results of operations had these acquisitions been made on January 1, 2012.

2013 Acquisitions

On February 14, 2013 and March 12, 2013, we acquired controlling interests in the Hilton Southeast Portfolio, which is comprised of five select-service hotels, and the Courtyard Pittsburgh Shadyside (collectively, our “2013 Acquisitions”), respectively. All of our 2012 and 2013 acquisitions are reflected in our historical condensed consolidated balance sheet at March 31, 2013 and, therefore, no pro forma adjustments to the historical condensed consolidated balance sheet as of March 31, 2013 were required.

Our 2013 Acquisitions are reflected in the historical condensed consolidated statement of operations for a portion of the three months ended March 31, 2013, reflecting their results of operations from their respective dates of acquisition through March 31, 2013. We made pro forma adjustments (Note 3, adjustments B through K) to reflect the impact on our results of operations had these acquisitions been made on January 1, 2012.

Other 2013 Acquisitions

On May 29, 2013, June 6, 2013 and July 10, 2013 we acquired controlling interests in Hutton Hotel, Holiday Inn Manhattan 6th Avenue and the Fairmont Sonoma Mission Inn & Spa, respectively. Given the timing of these acquisitions, it was not feasible to include pro forma financial information for these investments in this filing.

Note 3. Pro Forma Adjustments

A.  Long Beach Venture Disposition

On July 17, 2013, we sold our 49% joint venture interest, comprising our share of all the assets and liabilities of the venture, in Long Beach Hotel Properties, LLC (the “Long Beach Venture”) to Ensemble Hotel Partners, LLC, our joint venture partner, for $22.6 million. We made an adjustment to reflect a pro forma gain on sale of approximately $2.4 million. The venture owned two hotels, the Hotel Maya, a Doubletree by Hilton; and the Residence Inn Long Beach Downtown.

B.  Hotel Revenue

The pro forma adjustments related to our 2012 Acquisitions for the year ended December 31, 2012 represent the historical incremental revenues recognized by each property prior to our acquisition from January 1, 2012 to their respective acquisition dates.

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Notes to Pro Forma Condensed Consolidated Financial Statements

The pro forma adjustments related to our 2013 Acquisitions for the three months ended March 31, 2013 represent the historical incremental revenues recognized by each property prior to our acquisition from January 1, 2013 to their respective acquisition dates.

(Dollars in thousands)

(Dollars in thousands)

C.  Hotel Expenses

Pro forma adjustments for hotel expenses are derived from the historical financial statements of each of our investments except for those related to depreciation and amortization, sales and marketing and management fees. Pro forma adjustments reflect depreciation and amortization, of the acquired assets at fair value on a straight-line basis using an estimated useful life not to exceed 40 years for building and building improvements, one to eleven years for furniture, fixtures and equipment and one to 15 years for intangible assets. Pro forma adjustments for sales and marketing and management fees reflect expenses resulting from franchise and management agreements entered into upon acquisition. The pro forma adjustments related to our 2012 Acquisitions for the year ended December 31, 2012 represent the historical incremental expenses recognized by each property prior to our acquisition from January 1, 2012 to their respective acquisition dates. The pro forma adjustments related to our 2013 Acquisitions for the three months ended March 31, 2013 represent the historical incremental expenses recognized by each property prior to our acquisition from January 1, 2013 to their respective acquisition dates.

(Dollars in thousands)

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Notes to Pro Forma Condensed Consolidated Financial Statements

(Dollars in thousands)

D.  Acquisition-Related Expenses

Acquisition costs related to our 2012 Acquisitions, aggregating $5.1 million, are reflected in the historical condensed consolidated statement of operations for the year ended December 31, 2012. We have reflected a pro forma adjustment to exclude the total in our pro forma condensed consolidated statement of operations.

Acquisition costs related to our 2013 Acquisitions, aggregating $0.1 million and $5.4 million are reflected in the historical condensed consolidated statement of operations for the year ended December 31, 2012 and the three months ended March 31, 2013, respectively. We have reflected a pro forma adjustment to exclude the total in our pro forma condensed consolidated statement of operations.

E.  Asset Management Fees

We pay our advisor an annual asset management fee equal to 0.50% of the aggregate average monthly market value of our investments. Pro forma adjustments for such fees are reflected in the accompanying pro forma condensed consolidated statement of operations in order to reflect what the fee would have been had the 2012 Acquisitions, 2013 Acquisitions and the Long Beach Venture Disposition been made on January 1, 2012. The following pro forma adjustment for the year ended December 31, 2012 and the three months ended March 31, 2013 represent incremental asset management fees that would have been incurred in addition to asset management fees presented in the historical financial statements (in thousands):

F.  Income from Equity Investments in Real Estate

Earnings for our equity method investments are recognized in accordance with each respective investment agreement and are based upon the allocation of the investment’s net assets at book value as if the investment were hypothetically liquidated at the end of each reporting period. Under the conventional approach to accounting for equity investments, an investor applies its percentage

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Notes to Pro Forma Condensed Consolidated Financial Statements

ownership interest to the venture’s net income to determine the investor’s share of the earnings or losses of the venture. This approach is not applicable if the venture’s capital structure gives different rights and priorities to its investors as it is difficult to describe an investor’s interest in a venture simply as a specified percentage. As we have priority return on our investments, we follow the hypothetical liquidation at book value method in determining our share of the ventures’ earnings or losses for the reporting period as this method better reflects our claim on the ventures’ book value at the end of each reporting period. Due to our preferred interests, we are not responsible and will not reflect losses to the extent our partners continue to have equity in the investments.

2012 Acquisitions

Based on the hypothetical liquidation at book value method, our pro forma equity in loss in the Westin Atlanta Venture would have been approximately $0.8 million for the period from January 1, 2012 through the date of acquisition.

Long Beach Venture Disposition

Income from the Long Beach Venture of $1.8 million and less than $0.1 million are reflected in the historical consolidated statement of operations for the year ended December 31, 2012 and the three months ended March 31, 2013, respectively. We have reflected pro forma adjustments to exclude these earnings from our respective pro forma condensed consolidated statements of operations.

G.  Bargain Purchase Gain

A bargain purchase gain of $3.8 million is included in the historical statement of operations for the year ended December 31, 2012 related to our acquisition of Lake Arrowhead Resort and Spa. We have reflected a pro forma adjustment to exclude this transaction-related gain in our pro forma condensed consolidated statement of operations, as this is not expected to have a recurring impact on us.

H.  Interest Expense

2012 Acquisitions

The aggregate pro forma adjustment to interest expense related to our 2012 Acquisitions was $3.1 million for the year ended December 31, 2012.

2013 Acquisitions

The aggregate pro forma adjustment to interest expense related to our 2013 Acquisitions was $3.6 million and $0.5 million for the year ended December 31, 2012 and the three months ended March 31, 2013, respectively.

I.  Provision for Income Taxes

We have reflected pro forma adjustments related to each of our investments based upon estimated effective tax rates for each investment which take into account the fact that certain activities are taxable and other activities are pass-through items for income tax purposes. These pro forma adjustments reflect what the income tax provisions would have been had the investments been made on January 1, 2012. The following pro forma adjustments for the year ended December 31, 2012 and the three months ended March 31, 2013 represent incremental tax expense (benefit) that would have been incurred in addition to income tax presented in the historical financial statements, when applicable (in thousands):

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Notes to Pro Forma Condensed Consolidated Financial Statements

J.  Loss (Income) Attributable to Noncontrolling Interests

The combined pro forma adjustments to loss (income) attributable to noncontrolling interest related to our 2012 Acquisitions was $(0.3) million for the year ended December 31, 2012.

No pro forma adjustment related to loss (income) attributable to noncontrolling interest is required for the three months ended March 31, 2013.

K.  Weighted Average Shares

The pro forma weighted average shares outstanding were determined as if the number of shares required to raise the funds used for each acquisition included in these pro forma condensed consolidated financial statements were issued on January 1, 2012.

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