Sotherly Hotels Inc
NASDAQ:SOHO
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Sotherly Hotels Inc
Sotherly Hotels, Inc. is a real estate investment trust, which engages in the ownership and management of hotels. The company is headquartered in Williamsburg, Virginia and currently employs 10 full-time employees. The company went IPO on 2004-12-17. The firm is focused on the acquisition, renovation, upbranding and repositioning of upscale to upper-upscale full-service hotels located in the Southern United States. The firm conducts its operations through Sotherly Hotels LP, its Operating Partnership. Sotherly's portfolio consists of investments in approximately 11 hotel properties, comprising 2,976 rooms, as well as interests in two condominium hotels and their associated rental programs. The firm owns hotels that operate under the Hilton Worldwide, Marriott International, Inc., and Hyatt Hotels Corporation brands, as well as independent hotels. Sotherly's properties include The DeSoto, DoubleTree by Hilton Jacksonville Riverfront, DoubleTree by Hilton Laurel, DoubleTree by Hilton Philadelphia Airport, Georgian Terrace, Hyatt Centric Arlington, The Whitehall and Hyde Beach House Resort & Residences.
Sotherly Hotels, Inc. is a real estate investment trust, which engages in the ownership and management of hotels. The company is headquartered in Williamsburg, Virginia and currently employs 10 full-time employees. The company went IPO on 2004-12-17. The firm is focused on the acquisition, renovation, upbranding and repositioning of upscale to upper-upscale full-service hotels located in the Southern United States. The firm conducts its operations through Sotherly Hotels LP, its Operating Partnership. Sotherly's portfolio consists of investments in approximately 11 hotel properties, comprising 2,976 rooms, as well as interests in two condominium hotels and their associated rental programs. The firm owns hotels that operate under the Hilton Worldwide, Marriott International, Inc., and Hyatt Hotels Corporation brands, as well as independent hotels. Sotherly's properties include The DeSoto, DoubleTree by Hilton Jacksonville Riverfront, DoubleTree by Hilton Laurel, DoubleTree by Hilton Philadelphia Airport, Georgian Terrace, Hyatt Centric Arlington, The Whitehall and Hyde Beach House Resort & Residences.
Revenue Decline: Q2 revenue fell 3.7% year-over-year to $48.8 million, reflecting softer demand across much of the portfolio.
RevPAR Pressure: Portfolio-wide RevPAR dropped 5.4% due to lower occupancy and ADR, with government spending cuts and macro uncertainty as key drivers.
Profitability Impact: Hotel EBITDA margin declined 2.5%, and hotel EBITDA fell 11.5% in Q2 versus last year, mainly from RevPAR softness in key markets.
Guidance Cut: Full-year 2025 hotel EBITDA guidance was lowered, now expected to decrease 2.6% at the midpoint, with revenue guidance implying modest growth.
Government Travel Pullback: Spending cuts and uncertainty significantly impacted group and government-related business, especially in D.C., Savannah, and Atlanta.
Debt Management: The company is proactively refinancing maturing loans and completed a parking garage sale to help extinguish a maturing loan.
Group Bookings Rebound: Management expects group bookings to improve in the second half of the year, with leisure and government segments holding steady.
