From GlobeNewswire: 2025-03-13 06:30:00

Sotherly Hotels Inc. reported its fourth quarter and year-end results for 2024. Total revenues increased to $44.0 million for the fourth quarter and $181.9 million for the year. Net loss attributable to common stockholders increased in both periods. Hotel EBITDA saw incremental increases over the previous year.

RevPAR for the composite portfolio increased 2.6% in the fourth quarter and 3.7% for the year. Total revenue grew to $44.0 million in Q4 and $181.9 million for the year. Net loss attributable to common stockholders increased in both periods. Hotel EBITDA rose to $10.7 million in Q4 and $46.8 million for the year.

Adjusted FFO attributable to common stockholders decreased 30.3% in the fourth quarter and only 1.7% for the year. The company announced quarterly cash dividends for preferred stockholders. President Dave Folsom noted positive trends continuing from 2024 and expressed optimism for 2025.

As of December 31, 2024, Sotherly Hotels had $28.7 million in available cash. The company had $319.3 million in outstanding debt. The company’s 2025 outlook projects total revenues between $183.4 million to $188.2 million, with net loss ranging from $676,000 to $129,000.

Non-GAAP financial measures include FFO, Adjusted FFO, EBITDA, and Hotel EBITDA. These measures provide key supplemental information about the company’s performance. FFO is a useful measure for reviewing comparative operating and financial performance, while Adjusted FFO adjusts for additional items not included in FFO. EBITDA and Hotel EBITDA help evaluate core operating profitability.



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