Sotherly Hotels Inc (SOHO)

[roger wilco]

$SOHO Southerly Hotels, Inc.:

Revenue and RevPAR. For the three-month period ending March 31, 2019, Total Revenue increased 13.5% over the three-month period ending March 31, 2018. Room revenue per available room (“RevPAR”) for the Company’s composite portfolio, which includes the Hyatt Centric Arlington and the rooms participating in our rental program at the Hyde Resort & Residences, during the three-month period ending March 31, 2019, increased 8.8% over the three months ended March 31, 2018, to $121.86 reflecting a 5.2% increase in occupancy and a 3.5% increase in average daily rate (“ADR”).

Common Dividends. On April 29, 2019, the Company announced a quarterly dividend (distribution) on its common stock (and units) of $0.13 per share (and unit) to stockholders (and unitholders) of record as of June 14, 2019, payable on July 11, 2019.

Hotel EBITDA. The Company generated hotel EBITDA of approximately $13.2 million during the three-month period ending March 31, 2019, hotel EBITDA increased 10.9% or approximately $1.3 million, over the three months ended March 31, 2018.

Adjusted FFO available to common stockholders and unitholders. For the three-month period ending March 31, 2019, Adjusted FFO available to common stockholders and unitholders increased 0.7% from the three months ended March 31, 2018.

Andrew M. Sims, Chairman and Chief Executive Officer of Sotherly Hotels Inc., commented, “We experienced a strong quarter to start the year. Each of our boutique hotels boasted double-digit gains in RevPAR, helping the portfolio achieve a RevPAR increase of 8.8% over the same quarter last year. We are pleased to see our repositioning strategy begin to take full effect and we look forward to the conversion of our Tampa property to Hotel Alba later this quarter.”

https://sotherlyhotels.com/