Sotherly Hotels Stock Price, News & Analysis

Sotherly Hotels Inc. (NASDAQ: SOHO) announced it will report its fourth quarter 2020 financial results on March 4, 2021, prior to the market opening. A conference call for investors will follow at 10:00 a.m. ET to discuss these results. Interested parties can listen via phone or through the company’s website. A rebroadcast of the call will be available for one year following the event. Sotherly Hotels is focused on upscale hotel investments in the Southern U.S. and currently operates a portfolio of 12 hotel properties.

Sotherly Hotels Inc. (NASDAQ: SOHO) has entered into a Note Purchase Agreement to issue notes totaling $20 million, with an additional $10 million available within a year. The notes mature in three years and carry a 6.0% interest rate, with the principal repayable at 1.47 times the borrowed amount. The funds aim to improve the company's liquidity amidst pandemic challenges. CEO Dave Folsom expressed optimism about the partnership with Kemmons Wilson, highlighting the importance of this transaction for managing financial obligations and preparing for future recovery.

Sotherly Hotels Inc. (NASDAQ: SOHO) reported significant financial challenges in its Q3 2020 results, driven largely by the impact of COVID-19. Total revenue dropped 66.1% year-over-year to $14.4 million, with a net loss attributable to common stockholders of $12.3 million. Hotel EBITDA decreased approximately 113% to $(1.2) million. RevPAR fell 63.3% to $36.68 due to decreased occupancy and average daily rates. The Company suspended its quarterly cash dividend to preserve liquidity, with available cash on hand amounting to $23.2 million as of September 30, 2020.

Sotherly Hotels Inc. (NASDAQ: SOHO) announced that it will release its third quarter 2020 financial results on November 9, 2020, before the market opens. Following this, a conference call for investors is scheduled at 10:00 a.m. ET on the same day to discuss the results. Investors can access the call via telephone or the company's website, with a rebroadcast available after the event. Sotherly Hotels operates a portfolio that includes 12 hotel properties, aggregating 3,156 rooms, under several well-known brands.

Sotherly Hotels Inc. (NASDAQ: SOHO) reported significant financial declines in its second-quarter 2020 results. Total revenue plummeted by 89.7% year-over-year to $5.3 million, with a net loss of $17.1 million compared to a loss of $732,000 in the same period last year. Hotel EBITDA dropped 133.4% to $(5.2) million. The company has suspended its quarterly cash dividends to preserve liquidity and is facing ongoing challenges due to COVID-19, including reduced occupancy and revenue across all properties. As of June 30, 2020, available cash was approximately $24.9 million.

Sotherly Hotels Inc. (NASDAQ: SOHO) will announce its financial results for Q2 2020 on August 10, 2020, before market opening. A conference call for investors is scheduled for 10:00 AM ET on the same day, where management will discuss the results. The earnings release will be available on the company’s website. The conference call can be accessed via phone or webcast, with a rebroadcast available after the live call until August 10, 2021. Sotherly Hotels focuses on acquiring and repositioning full-service hotels in the Southern U.S.

Sotherly Hotels Inc. (NASDAQ: SOHO) reported significant declines in its Q1 2020 results, largely due to the COVID-19 pandemic. Total revenue fell by 21.5% to $37.2 million compared to Q1 2019. The company suffered a net loss of $14.3 million, resulting in a net loss per share of $1.01. Hotel EBITDA decreased by 61.6% to $5.1 million. In response to the pandemic, Sotherly suspended dividends, implemented cost-control measures, and anticipates continued operational challenges until travel restrictions ease.

Sotherly Hotels Inc. (NASDAQ: SOHO) will report its financial results for Q1 2020 on June 24, 2020, before the market opens. A conference call will follow at 10:00 AM ET, where management will discuss the results. The earnings release will be available on the Company's website under the Investors section. Sotherly Hotels operates upscale and upper-upscale hotels in the Southern US, with a portfolio of twelve properties totaling 3,156 rooms, and interests in two condominium hotels.