Welcome to our dedicated page for Sotherly Hotels news (Ticker: SOHO), a resource for investors and traders seeking the latest updates and insights on Sotherly Hotels stock.
Sotherly Hotels Inc. was a self-managed and self-administered lodging REIT focused on acquiring, renovating, upbranding and repositioning upscale to upper-upscale full-service hotels, primarily in the Southern United States. Its recurring company news covered operating and financial results, hotel financing, portfolio activity, material agreements, shareholder votes, governance matters and capital-structure disclosures tied to common and preferred equity.
Recent company developments also document Sotherly's completed acquisition by KW Kingfisher LLC and the resulting public-company transition, including Nasdaq delisting activity and preferred-stock reporting matters. Earlier business updates described hotel investments, condominium-hotel interests and properties operating under Hilton Worldwide, Hyatt Hotels Corporation and independent brands.
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.
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