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. (NASDAQ: SOHO) is a self-managed and self-administered lodging REIT that regularly issues news and regulatory updates related to its hotel portfolio, capital structure and strategic transactions. Organized in 2004 and headquartered in Williamsburg, Virginia, the company focuses on upscale to upper-upscale full-service hotels in the Southern United States and reports on performance and corporate developments through press releases and SEC filings.
News about Sotherly often covers quarterly and annual financial results, including metrics such as total revenues, RevPAR, hotel EBITDA, funds from operations (FFO) and adjusted FFO. Earnings releases may also discuss portfolio performance, booking trends, balance sheet and liquidity positions, and updates to annual guidance ranges. These disclosures help investors and analysts follow changes in lodging demand and hotel-level profitability across the company’s ten full-service hotels and two condominium hotel interests.
Sotherly’s news flow also includes announcements about preferred stock dividends and dividend policy decisions. The company has declared quarterly cash dividends on its Series B, Series C and Series D cumulative redeemable perpetual preferred stock, and has separately announced the deferral of previously declared preferred dividends and the suspension of future preferred dividends, reflecting board-level decisions on capital allocation and financing conditions.
Capital markets and financing developments are another recurring theme. Sotherly has reported on new mortgage loans, such as a secured loan on The DeSoto hotel in Savannah, Georgia, as well as notices of default on certain property-level mortgages and subsequent negotiations with special servicers. These items provide insight into the company’s debt profile, refinancing efforts and interactions with lenders.
A significant component of recent news is the definitive merger agreement under which a joint venture-backed entity, KW Kingfisher LLC, will acquire all outstanding shares of Sotherly common stock for cash consideration, subject to stockholder approval and other customary conditions. Related releases and Form 8-K filings describe the merger terms, expected timeline and the planned proxy statement process. Visitors to this news page can review these updates to understand the proposed transition of Sotherly from a publicly traded REIT to a privately held subsidiary.
By following the SOHO news feed, readers can track financial reporting, dividend actions, property-level financing events, governance matters and the progress of the announced merger, using original company communications as a primary source of information.
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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