Sotherly Hotels Stock Price, News & Analysis

Sotherly Hotels Inc. (NASDAQ: SOHO) announced it will release its fourth quarter 2022 financial results on March 2, 2023, before market open. A conference call discussing these results is scheduled for 10:00 a.m. ET on the same day. Investors can access the call via telephone or the internet, with details available on the company’s website.

Sotherly Hotels focuses on acquiring and renovating upscale hotels primarily in the Southern United States, currently operating ten properties with 2,786 rooms and interests in two condominium hotels.

Sotherly Hotels Inc. (NASDAQ: SOHO) reported initial operating results for its ten wholly-owned properties for Q4 2022. Key metrics include an occupancy rate of 48.1% in December, up 4.8% from 2021, but down 14.4% from 2019. Average Daily Rate (ADR) was $169.69 in December, representing an 8.9% increase versus 2021 and 18.6% over 2019. Revenue Per Available Room (RevPAR) for December stood at $80.75, a 13.7% increase compared to the previous year, yet a 1.3% decrease from 2019. Overall, results indicate a continued recovery despite challenges from Hurricane Nicole.

Sotherly Hotels (NASDAQ: SOHO) reported Q3 2022 results, showing total revenue of approximately $39.2 million, up from $35.5 million in Q3 2021. Net income attributable to common stockholders was $113, a significant improvement from a loss of $4.3 million in the prior year. Hotel EBITDA rose to approximately $9.8 million, exceeding both 2021 and 2019 levels. The company suspended its quarterly cash dividend to preserve liquidity, while Adjusted FFO per share reached $0.12, highlighting a substantial year-over-year increase. The company expects total revenue guidance for 2022 between $162.7 million and $164.1 million.

Sotherly Hotels Inc. (NASDAQ: SOHO) will announce its third quarter 2022 financial results on November 10, 2022, before market open. A conference call is set for 10:00 a.m. ET that day, where management will discuss the results. Investors can access the call via telephone or webcast through the company's website. A rebroadcast of the call will be available for those unable to attend live. The company operates upscale to upper-upscale hotels primarily in the Southern U.S., with a portfolio consisting of ten properties totaling 2,786 rooms.

Sotherly Hotels Inc. (NASDAQ: SOHO) reported preliminary operating results for its wholly-owned properties for Q3 2022. The company experienced a notable improvement in occupancy rates, with September occupancy reaching 62.2%, marking a 17.6% increase compared to 2021. Additionally, ADR rose to $172.24, up 9.4% against 2021. The RevPAR also showed positive growth, reaching $105.83, a 23.6% increase year-over-year. Despite the challenges of Hurricane Ian, the company reported no physical damage to its portfolio, highlighting resilience in a recovering travel market.

Sotherly Hotels Inc. (NASDAQ: SOHO) reported significant growth in its Q2 2022 results, with total revenue of $47.2 million, up from $34.4 million in Q2 2021. Net income attributable to common stockholders reached $24.3 million, compared to a loss of $2.8 million the previous year. Adjusted FFO surged by 444.4% year-over-year. RevPAR increased to $128.63, reflecting a strong recovery in demand, although occupancy remains below pre-pandemic levels. The company suspended its quarterly cash dividend to preserve liquidity amidst ongoing uncertainties in the lodging industry.

Sotherly Hotels Inc. (NASDAQ: SOHO) announced that it will report its second quarter 2022 financial results on August 11, 2022, prior to market opening. A conference call to discuss these results will follow at 10:00 a.m. ET on the same day. Investors can access the call by phone or via the company’s website. The company operates a portfolio of ten hotel properties and has interests in additional condominium hotels, focusing on acquiring and renovating upscale hotels primarily in the Southern United States.

Sotherly Hotels Inc. (NASDAQ: SOHO) reported preliminary operating results for its ten wholly owned properties for Q2 2022. Key metrics include an occupancy rate of 67.8%, a 9.4% increase from 2021 but a 10.9% decrease from 2019. The Average Daily Rate (ADR) was $173.11, up 15.5% year-over-year but 7.8% lower compared to 2019. Revenue Per Available Room (RevPAR) increased by 25.7% versus 2021 to $116.10, yet it was down 4.2% from 2019. The company's performance is driven by a recovery in business and leisure segment demand amidst challenging industry conditions.

Sotherly Hotels Inc. (NASDAQ: SOHO) has modified its existing mortgage loan with Fifth Third Bank for Hotel Alba in Tampa, Florida. The loan modification entails an increased principal balance of $25 million, a three-year term extension, and a 1% decrease in the floating interest rate to SOFR plus 2.75%. The proceeds will help repay a secured note with Kemmons Wilson, which will reduce Sotherly's debt obligations by over $50 million in 2022. This change aims to stabilize the company's financial health and facilitate the payment of preferred dividends, while focusing on long-term shareholder growth.