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Procaccianti Hotel REIT, Inc. updated its estimated net asset value (NAV) per share for all stock classes as of March 31, 2026. The Board set NAVs at $10.17 for K-I and K Shares, $5.91 for A Shares and $0.00 for B Shares, based on third‑party appraisals and adviser inputs.
The company owns interests in five hotel properties with a total aggregate purchase price of about $89.6 million and $9.2 million of capital improvements. These assets were appraised at approximately $109.3 million at the company’s ownership level, a 10.65% increase over cost and improvements.
Total net asset value was $58.5 million versus $59.2 million a year earlier. A Share NAV declined from $7.14 to $5.91, while K-I and K Share NAVs remained at $10.17. The Board also set new Distribution Reinvestment Plan prices of $9.66 per K and K-I Share and tied repurchase prices under the share repurchase program to the updated NAVs effective June 11, 2026.
Procaccianti Hotel REIT, Inc. announced that its board determined the funding cap under its Amended and Restated Share Repurchase Program was reached for repurchase requests related to the quarter ended March 31, 2026.
Because net proceeds from the distribution reinvestment plan were insufficient, only shares requested to be repurchased due to deceased stockholders will be repurchased in full. There were no qualifying disability or small-account repurchase requests. All other repurchase requests will be filled on a prorated basis, with approximately 1.3% of the shares requested being repurchased, and unfulfilled portions will carry over to future periods unless withdrawn.
Procaccianti Hotel REIT, Inc. amended the loan on its Hotel Indigo Traverse City property. On May 6, 2026, subsidiary PHR TCI, LLC and Beacon Bank & Trust signed a Change in Terms Agreement that reduces the Refinancing Loan’s interest rate to a fixed 6.50% per annum.
The lower fixed rate applies for the remainder of the loan’s initial term, which currently matures on June 6, 2027. The outstanding principal balance remains $15,600,000, and the agreement does not change the maturity date, collateral, corporate guaranty, or other material terms.
Procaccianti Hotel REIT, Inc. reported weaker results for the quarter ended March 31, 2026. Total revenue from rooms, food and beverage, and other operating sources was $5,111,943, down from $5,846,974 a year earlier, as room revenue declined.
Total expenses were $5,836,340, producing an operating loss of $724,397 compared with a loss of $197,174 in 2025. After $1,084,750 of net interest expense and income taxes, the company recorded a net loss attributable to common stockholders of $1,859,901 versus $1,186,320 in the prior-year quarter.
Cash and restricted cash totaled $9,723,110 at March 31, 2026, with mortgage notes payable, net, of $66,681,888 primarily secured by five hotels comprising 559 rooms. The company continued paying cumulative distributions on Class K and Class K‑I shares and OP units, including $956,800 authorized in February 2026, while also repurchasing common stock under its share repurchase program.
Procaccianti Hotel REIT, Inc. authorized payment of accrued distributions on its Class K and Class K-I common stock and related operating partnership units. For the quarter ended March 31, 2026, accrued distributions totaled $665,355 for Class K shares and $248,516 for Class K-I shares, based on 7% per annum.
These amounts reflect daily accruals of $0.001917808 per Class K share and per Class K-I share under the company’s charter. The board also approved payment of $22,115 of accrued distributions on Class K OP Units held by affiliate sellers of the Hilton Garden Inn property, at the same daily rate and annual accrual of 7%.
Procaccianti Hotel REIT, Inc. files its annual report describing a focused hotel portfolio and REIT structure. As of December 31, 2025, it owned interests in five select-service hotels across four states with 559 rooms, financed by mortgage debt and prior equity offerings.
The company reports net asset value of $59,193,384 as of March 31, 2025, supporting an Estimated Per Share NAV of $10.17 for Class K and Class K‑I, $7.14 for Class A and $0.00 for Class B. Total outstanding indebtedness was $67,408,843 as of year-end 2025, within its charter leverage limits.
For 2025, net income was $1,537,203, funds from operations were $5,014,790 and net cash provided by operations was $6,110,733. The REIT paid all quarterly distributions on K, K‑I and K‑T shares from hotel operating cash flow and also paid $2,388,072 of accrued A‑share distributions using refinancing proceeds. The filing highlights significant risks, including hotel sector cyclicality, illiquidity of shares, reliance on external advisor PHA and affiliated property managers, high competition, regulatory and environmental exposure, and concentration in the hospitality sector and Traverse City, Michigan.
Procaccianti Hotel REIT, Inc. reports that its share repurchase capacity for the quarter ended December 31, 2025 has been constrained by its Funding Limitation. Under its share repurchase program, buybacks are limited by both a 5% annual cap and available net proceeds from its distribution reinvestment plan.
Because DRIP proceeds were insufficient, the board determined that not all fourth-quarter repurchase requests could be met. Requests tied to deceased stockholders will be repurchased in full, while there were no qualifying disability or small-account requests. All remaining repurchase requests will be filled on a pro rata basis at approximately 3.6% of the shares requested, meaning most investors will see only a small portion of their requested shares repurchased this quarter.
Procaccianti Hotel REIT, Inc. reported that its board authorized payment of previously accrued distributions on its Class K and Class K-I common stock for the quarter ended December 31, 2025. Accrued amounts total $681,398 for Class K shares and $252,796 for Class K-I shares, based on daily accruals of $0.001917808 per share at a 7% annual rate.
The board also approved payment of accrued distributions on Class K OP Units held by affiliate sellers of the Hilton Garden Inn property. These Class K OP Unit distributions total $22,606, accrued at $0.001917808 per unit per day, also reflecting a 7% annual rate.
Procaccianti Hotel REIT, Inc. filed a current report to update the investor suitability standards in its prospectus for Alabama residents participating in its distribution reinvestment plan. The change becomes effective after the close of business on February 2, 2026.
Under the new Alabama standard, an investor must either have a minimum net worth of $350,000 (excluding home, furnishings, and automobiles), or a minimum net worth of $100,000 and minimum annual gross income of $100,000. In addition, an Alabama investor’s aggregate investment in this REIT and other non-traded direct participation programs is limited to 10% of liquid net worth, with specific exceptions.