Sotherly Hotels

Sotherly Hotels, Inc. is a real estate investment trust, which engages in the ownership and management of hotels. It operates under the Hilton, CrownePlaza, DoubleTree, and Sheraton brands. The company was founded in August 2004 and is headquartered in Williamsburg, VA.

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Earnings data Q4 2024

Sotherly Hotels (SOHO) reports solid Q1 performance and optimistic outlook

Sotherly Hotels (SOHO) delivered a strong Q1 performance with revenue of $46.5 million and Hotel EBITDA of $12.4 million. Despite challenges from rising costs, the company remains optimistic about future growth opportunities driven by group travel and market recoveries. Strategic corporate activities and a positive outlook for RevPAR growth signal a promising trajectory for the company.

Sotherly Hotels reports solid Q2 performance amidst revenue challenges

Sotherly Hotels demonstrated positive performance in Q2 2024 with revenue and EBITDA growth, despite facing challenges in ADR and adjusted FFO.
The company's strengths in property performance and market demand, along with financial stability, position it well for future growth.
To capitalize on opportunities, Sotherly Hotels should focus on revenue optimization, franchise expansion, and strategic financial management.

Sotherly Hotels reports revenue growth amidst hurricane challenges in Q3

Sotherly Hotels (SOHO) navigated through hurricane challenges in Q3 2024, reporting revenue growth but a deficit in adjusted FFO. Despite the impact of hurricanes, the company remains focused on improving occupancy rates and managing its debt levels. Management provided insights on the recovery process and future strategies during the earnings call.

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Sotherly Hotels, Inc. is a real estate investment trust. It engages in the business of acquisition, renovation, upbranding, and repositioning of upscale to upper-upscale full-service hotels. The company was founded in August 2004 and is headquartered in Williamsburg, VA.

Sotherly Hotels (SOHO) came out with quarterly funds from operations (FFO) of $0.20 per share, missing the Zacks Consensus Estimate of $0.21 per share. This compares to FFO of $0.24 per share a year ago.

Sotherly Hotels (SOHO) Misses Q1 FFO Estimates

WILLIAMSBURG, Va., May 09, 2024 (GLOBE NEWSWIRE) -- Sotherly Hotels Inc. (NASDAQ: SOHO), (“Sotherly” or the “Company”), a self-managed and self-administered lodging real estate investment trust (a “REIT”), today reported its consolidated results for the first quarter ended March 31, 2024. The Company's results include the following*:

Sotherly Hotels Inc. Reports Financial Results for the First Quarter Ended March 31, 2024

WILLIAMSBURG, Va., May 03, 2024 (GLOBE NEWSWIRE) -- Sotherly Hotels Inc. (NASDAQ: SOHO) (the “Company”) today announced that the Company has executed an extension which includes amended mortgage loan terms on its first mortgage with TD Bank, collateralized by the DoubleTree by Hilton Philadelphia Airport in Philadelphia, PA. The interest-only loan, which has been reduced by $3.0 million to $35.9 million, matures in April 2026 and carries a floating interest rate based on SOFR plus 3.5%. As part of the transaction, the Borrower purchased an Interest Rate Cap capping SOFR at 3.0%. The Company also announced that it has entered into a new 10-year franchise agreement with Hilton Worldwide to relicense the hotel under the DoubleTree by Hilton flag. As part of the new agreement with Hilton, the Company will undertake a renovation of the property, with a cost of approximately $11.5 million and an estimated completion date of April 2026. Renovation plans for the property to include upgrades to guestrooms, public spaces, food and beverage spaces, and building exterior.

Sotherly Hotels Inc. Announces Refinancing and Renovation Plans for Philadelphia Hotel

WILLIAMSBURG, Va., April 15, 2024 (GLOBE NEWSWIRE) -- Sotherly Hotels Inc. (NASDAQ: SOHO) (the “Company”) announced that the Company will report financial results for the first quarter 2024 prior to the market opening on Thursday, May 9, 2024. A conference call for investors and other interested parties is scheduled for 10:00 a.m. Eastern Time (ET) that same day, at which time management will discuss the Company's first quarter 2024 results. The information to be discussed on the call will be contained in the Company's earnings release, which will be available via the Company's website at www.sotherlyhotels.com in the Investors section under Financial Information .

Sotherly Hotels Inc. Schedules First Quarter 2024 Earnings Release and Conference Call

Sotherly Hotels Inc 8% Cum Red Pfd Series B

Sotherly Hotels Inc 7.875 % Cum Conv Perp Red Pfd Registered Shs Series C

Sotherly Hotels Inc. (NASDAQ:SOHO ) Q4 2023 Earnings Conference Call March 6, 2024 10:00 AM ET Company Participants Mack Sims - VP, Operations & Investor Relations Scott Kucinski - Executive VP & COO Tony Domalski - VP, Secretary & CFO Dave Folsom - President, CEO & Director Conference Call Participants Alexander Goldfarb - Piper Sandler Operator Hello, everyone. And welcome to the Sotherly Hotels Fourth Quarter 2023 Earnings Call and Webcast.

Sotherly Hotels Inc. (SOHO) Q4 2023 Earnings Call Transcript

Sotherly Hotels (SOHO) came out with quarterly funds from operations (FFO) of $0.10 per share, beating the Zacks Consensus Estimate of $0.06 per share. This compares to FFO of $0.41 per share a year ago.

Sotherly Hotels (SOHO) Q4 FFO and Revenues Surpass Estimates

WILLIAMSBURG, Va., March 06, 2024 (GLOBE NEWSWIRE) --  Sotherly Hotels Inc. (NASDAQ: SOHO), (“Sotherly” or the “Company”), a self-managed and self-administered lodging real estate investment trust (a “REIT”), today reported its consolidated results for the fourth quarter and year ended December 31, 2023. The Company's results include the following*:

Sotherly Hotels Inc. Reports Financial Results for the Fourth Quarter Ended December 31, 2023

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Hotel REITs experienced a significant drop in share value during the COVID-19 pandemic but have since recovered and outperformed the Vanguard Real Estate ETF. Consumer spending is shifting towards services like travel and leisure, which bodes well for Hotel REITs. Hotel REITs have posted the fourth-best total returns among REIT sectors in 2024, indicating their potential for future growth.

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WILLIAMSBURG, Va., Feb. 14, 2024 (GLOBE NEWSWIRE) -- Sotherly Hotels Inc. (NASDAQ: SOHO) (the “Company”) today announced the estimated income tax classification of the Company's 2023 distributions on its Series B preferred shares (CUSIP #83600C301), Series C preferred shares (CUSIP #83600C400), and Series D preferred shares (CUSIP #83600C509). The income tax classification of the 2023 distributions as it is expected to be reported on Form 1099-DIV is set forth in the following table:

Sotherly Hotels Inc. Announces Dividend Tax Treatment

WILLIAMSBURG, Va., Feb. 13, 2024 (GLOBE NEWSWIRE) -- Sotherly Hotels Inc. (NASDAQ: SOHO) (the “Company”) today announced that the Company has executed a $35.0 million secured loan with Citi Real Estate Funding Inc., collateralized by a first mortgage on Hotel Alba, Tapestry Collection by Hilton located in Tampa, Florida. The interest-only loan, which has a principal balance of $35.0 million, matures on March 6, 2029, and carries a fixed interest rate of 8.49%. Proceeds from the loan were used to repay the existing first mortgage and for general corporate purposes.

Sotherly Hotels Inc. Announces Refinancing Of Tampa Hotel

WILLIAMSBURG, Va., Jan. 15, 2024 (GLOBE NEWSWIRE) -- Sotherly Hotels Inc. (NASDAQ: SOHO) (the “Company”) announced that the Company will report financial results for the fourth quarter 2023 prior to the market opening on Wednesday, March 6, 2024. A conference call for investors and other interested parties is scheduled for 10:00 a.m. Eastern Time (ET) that same day, at which time management will discuss the Company's fourth quarter 2023 results. The information to be discussed on the call will be contained in the Company's earnings release, which will be available via the Company's website at www.sotherlyhotels.com in the Investors section under Financial Information.

Sotherly Hotels Inc. Schedules Fourth Quarter 2023 Earnings Release and Conference Call

Sotherly Hotels Inc. (NASDAQ:SOHO ) Q3 2023 Earnings Conference Call November 9, 2023 10:00 AM ET Company Participants Mack Sims - Vice President-Operations & IR Scott Kucinski - Executive Vice President & Chief Operating Officer Tony Domalski - VP, Secretary & Chief Financial Officer Dave Folsom - President, Chief Executive Officer & Director Conference Call Participants Alexander Goldfarb - Piper Sandler Jeff Hassannia - HD Enterprise Operator Hello, and welcome to Sotherly Hotels Third Quarter 2023 Earnings Call. My name is Alex, and I will be coordinating the call today.

Sotherly Hotels Inc. (SOHO) Q3 2023 Earnings Call Transcript

WILLIAMSBURG, Va., Nov. 09, 2023 (GLOBE NEWSWIRE) -- Sotherly Hotels Inc. (NASDAQ: SOHO), (“Sotherly” or the “Company”), a self-managed and self-administered lodging real estate investment trust (a “REIT”), today reported its consolidated results for the third quarter ended September 30, 2023. The Company's results include the following*:

Sotherly Hotels Inc. Reports Financial Results for the Third Quarter Ended September 30, 2023

WILLIAMSBURG, Va., Oct. 11, 2023 (GLOBE NEWSWIRE) -- Sotherly Hotels Inc. (NASDAQ: SOHO) (the “Company”) announced that the Company will report financial results for the third quarter 2023 prior to the market opening on Thursday, November 9, 2023. A conference call for investors and other interested parties is scheduled for 10:00 a.m. Eastern Time (ET) that same day, at which time management will discuss the Company's third quarter 2023 results. The information to be discussed on the call will be contained in the Company's earnings release, which will be available via the Company's website at www.sotherlyhotels.com in the Investors section under Financial Information .

Sotherly Hotels Inc. Schedules Third Quarter 2023 Earnings Release and Conference Call

Sotherly Hotels' (SOHO) Q2 results reflect lower-than-anticipated revenues.

Sotherly Hotels (SOHO) Lags Q2 FFO Estimates, Provides Q3 View

Sotherly Hotels (SOHO) came out with quarterly funds from operations (FFO) of $0.37 per share, missing the Zacks Consensus Estimate of $0.40 per share. This compares to FFO of $0.33 per share a year ago.

Sotherly Hotels (SOHO) Lags Q2 FFO and Revenue Estimates

WILLIAMSBURG, Va., Aug. 10, 2023 (GLOBE NEWSWIRE) -- Sotherly Hotels Inc. (NASDAQ: SOHO), (“Sotherly” or the “Company”), a self-managed and self-administered lodging real estate investment trust (a “REIT”), today reported its consolidated results for the second quarter ended June 30, 2023. The Company's results include the following*:

Sotherly Hotels Inc. Reports Financial Results for the Second Quarter Ended June 30, 2023

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SOHO, RM and KB made it to the Zacks Rank #1 (Strong Buy) value stocks list on July 27, 2023.

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SOHO, DVA and PHM made it to the Zacks Rank #1 (Strong Buy) value stocks list on July 19, 2023.

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REITs Capitalizing On Taylor Swift's Eras Tour

WILLIAMSBURG, Va., July 12, 2023 (GLOBE NEWSWIRE) -- Sotherly Hotels Inc. (NASDAQ: SOHO) (the “Company”) announced that the Company will report financial results for the second quarter 2023 prior to the market opening on Thursday, August 10, 2023. A conference call for investors and other interested parties is scheduled for 10:00 a.m. Eastern Time (ET) that same day, at which time management will discuss the Company's second quarter 2023 results. The information to be discussed on the call will be contained in the Company's earnings release, which will be available via the Company's website at www.sotherlyhotels.com in the Investors section under Financial Information .

Sotherly Hotels Inc. Schedules Second Quarter 2023 Earnings Release and Conference Call

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WILLIAMSBURG, Va., July 06, 2023 (GLOBE NEWSWIRE) -- Sotherly Hotels Inc. (NASDAQ: SOHO), (“Sotherly” or the “Company”), a self-managed and self-administered lodging real estate investment trust (a “REIT”), today reported preliminary operating results for the Company's ten wholly-owned properties, (“same-store” portfolio metrics). Accordingly, the actual data does not include the participating condominium hotel rooms of the Hyde Resort & Residences and the Hyde Beach House, or the DoubleTree by Hilton Raleigh Brownstone.

Sotherly Hotels Inc. Reports Preliminary Operating Results For The Second Quarter Ended June 30, 2023

News for Sotherly Hotels Stock (SOHO)