WILLIAMSBURG, Va., Oct. 06, 2025 (GLOBE NEWSWIRE) -- Sotherly Hotels Inc. (NASDAQ: SOHO) (the “Company”) announced that the Company will report financial results for the third quarter 2025 prior to the market opening on Thursday, November 13, 2025. A conference call for investors and other interested parties is scheduled for 10:00 a.m. Eastern Time (ET) that same day, at which time management will discuss the Company’s third quarter 2025 results. The information to be discussed on the call will be contained ...

Sotherly Hotels (NASDAQ:SOHO) stock was surging after the hotel REIT said it has executed a $42M secured loan with Citi Real Estate Funding. The loan is collateralized by a first mortgage on the DeSoto Hotel in Savannah, Georgia. Shares were ...

WILLIAMSBURG, Va., Sept. 17, 2025 (GLOBE NEWSWIRE) -- Sotherly Hotels Inc. (NASDAQ: SOHO) (the “Company”) today announced that the Company has executed a $42.0 million secured loan with Citi Real Estate Funding Inc., collateralized by a first mortgage on the DeSoto Hotel in Savannah, Georgia. The interest-only loan, which has a principal balance of $42.0 million, matures on October 6, 2030, and carries a fixed interest rate of 7.13%. Proceeds from the loan were used to repay the existing first mortgage and ...

PHILADELPHIA, Sept. 05, 2025 (GLOBE NEWSWIRE) -- The law firm of Kaskela Law LLC announces that it is continuing to investigate the proposed buyout of Soho House & Co Inc. (NYSE: SHCO) (“Soho House”) shareholders to determine whether the transaction as structured is fair to the company’s investors. Click here to request information about your legal rights and options: https://kaskelalaw.com/case/soho-house/  On August 18, 2025, Soho House announced that it had agreed to be acquired by an investment group le ...

Core Insights - Enliven Therapeutics, Inc. announced the presentation of data from its ENABLE Phase 1a/1b clinical trial of ELVN-001 at the Society of Hematologic Oncology (SOHO) 2025 Annual Meeting [1] - The presentation will include both an oral and a poster session, showcasing the company's focus on chronic myeloid leukemia treatment [2] Company Overview - Enliven Therapeutics is a clinical-stage biopharmaceutical company dedicated to the discovery and development of small molecule therapeutics aimed at improving patient survival and overall well-being [3] - The company employs a precision oncology approach to address unmet medical needs, leveraging insights into clinically validated biological targets and innovative chemistry [3]

[PART I - Financial Information](index=5&type=section&id=PART%20I) This section presents the company's unaudited financial statements and management's discussion for the periods ended June 30, 2025 [Consolidated Financial Statements](index=5&type=section&id=Item%201.%20Consolidated%20Financial%20Statements) This section presents Sotherly Hotels Inc. and LP's unaudited consolidated financial statements and detailed notes for Q2 2025 [Sotherly Hotels Inc. Financial Statements](index=5&type=section&id=Sotherly%20Hotels%20Inc.%20Financial%20Statements) Unaudited consolidated financial statements for Sotherly Hotels Inc. as of and for the period ended June 30, 2025 Balance Sheets | Financial Metric | June 30, 2025 (unaudited) ($) | December 31, 2024 ($) | | :--- | :--- | :--- | | **Assets** | | | | Total Assets | 411,117,831 | 414,375,920 | | **Liabilities & Equity** | | | | Total Liabilities | 366,835,493 | 372,777,154 | | Total Equity | 44,282,338 | 41,598,766 | | **Total Liabilities and Equity** | 411,117,831 | 414,375,920 | Statements of Operations | Income Statement Item | Three Months Ended June 30, 2025 ($) | Three Months Ended June 30, 2024 ($) | | :--- | :--- | :--- | | Total Revenue | 48,794,143 | 50,694,367 | | Net Operating Income | 6,574,752 | 9,299,783 | | Net Income | 1,556,424 | 4,664,232 | | Net Income Attributable to the Company | 1,577,985 | 4,616,081 | | Net (Loss) Attributable to Common Stockholders | (416,328) | 2,621,768 | | Basic and Diluted EPS | (0.02) | 0.13 | Statements of Cash Flows | Cash Flow Item | Six Months Ended June 30, 2025 ($) | Six Months Ended June 30, 2024 ($) | | :--- | :--- | :--- | | Net cash provided by operating activities | 10,134,183 | 16,660,560 | | Net cash used in investing activities | (4,800,503) | (5,002,351) | | Net cash used in financing activities | (7,512,504) | (578,741) | | Net (decrease) increase in cash | (2,178,824) | 11,079,468 | [Sotherly Hotels LP Financial Statements](index=11&type=section&id=Sotherly%20Hotels%20LP%20Financial%20Statements) Unaudited consolidated financial statements for Sotherly Hotels LP as of and for the period ended June 30, 2025 Balance Sheets | Financial Metric | June 30, 2025 (unaudited) ($) | December 31, 2024 ($) | | :--- | :--- | :--- | | **Assets** | | | | Total Assets | 411,117,831 | 415,183,080 | | **Liabilities & Partners' Capital** | | | | Total Liabilities | 366,835,493 | 372,777,154 | | Total Partners' Capital | 44,282,338 | 42,405,926 | | **Total Liabilities and Partners' Capital** | 411,117,831 | 415,183,080 | Statements of Operations | Income Statement Item | Three Months Ended June 30, 2025 ($) | Three Months Ended June 30, 2024 ($) | | :--- | :--- | :--- | | Total Revenue | 48,794,143 | 50,694,367 | | Net Operating Income | 6,574,752 | 9,299,783 | | Net Income | 1,556,424 | 4,664,232 | | Net (Loss) Attributable to Unit Holders | (437,889) | 2,669,919 | | Basic and Diluted EPU | (0.02) | 0.13 | [Notes to Consolidated Financial Statements](index=17&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) Detailed explanations of accounting policies, significant transactions, debt obligations, and other financial statement items - The company's portfolio as of June 30, 2025, consists of investments in **ten hotel properties with 2,786 rooms**, plus two hotel commercial condominium units. Seven hotels operate under Hilton, DoubleTree, and Hyatt brands, while three are independent[48](index=48&type=chunk) - Management has noted a going concern risk due to mortgages maturing in **2025 (approx. $87.3 million)** and **2026 (approx. $68.4 million)** that the company will be unable to repay from working capital. The company is also out of compliance with a financial covenant on the DoubleTree by Hilton Jacksonville Riverfront mortgage[59](index=59&type=chunk) - As of June 30, 2025, the company was in default on the mortgage for the Georgian Terrace hotel, which matured on June 1, 2025. The company has requested a **1-year extension** from the special servicer[107](index=107&type=chunk)[113](index=113&type=chunk) - As of June 30, 2025, total undeclared and unpaid cumulative cash dividends on Series B, C, and D preferred stock were approximately **$21.9 million**[139](index=139&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=50&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses financial performance, operating metrics, liquidity challenges, capital expenditures, and dividend policies for Q2 2025 [Results of Operations](index=53&type=section&id=Results%20of%20Operations) Analysis of key operating metrics, revenue, and net income trends for the three and six months ended June 30, 2025 Composite Portfolio Metrics | Composite Portfolio Metrics | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | | :--- | :--- | :--- | | Occupancy % | 70.8% | 73.4% | | ADR ($) | 183.88 | 187.51 | | RevPAR ($) | 130.20 | 137.67 | - For the three months ended June 30, 2025, total revenue decreased by **3.7% to $48.8 million**, and rooms revenue decreased by **5.9%**. This was driven by a **5.9% decrease in RevPAR**, resulting from lower occupancy and ADR. Net income fell to **$1.6 million from $4.7 million** in the prior-year period[199](index=199&type=chunk)[201](index=201&type=chunk)[213](index=213&type=chunk) - For the six months ended June 30, 2025, total revenue was nearly flat at **$97.1 million**. However, net income increased slightly to **$6.3 million from $6.0 million**, primarily due to a **$4.1 million gain** on involuntary conversion of assets related to hurricane damage at the Hotel Alba[214](index=214&type=chunk)[227](index=227&type=chunk)[228](index=228&type=chunk) [Non-GAAP Financial Measures](index=58&type=section&id=Non-GAAP%20Financial%20Measures) Reconciliation of non-GAAP financial measures, including FFO and Adjusted FFO, to GAAP net income FFO and Adjusted FFO Reconciliation | Reconciliation Item | Three Months Ended June 30, 2025 ($) | Three Months Ended June 30, 2024 ($) | | :--- | :--- | :--- | | Net Income | 1,556,424 | 4,664,232 | | FFO attributable to common stockholders | 4,317,262 | 7,355,591 | | Adjusted FFO attributable to common stockholders | 4,757,690 | 7,503,096 | | **Per Share & Unit** | | | | FFO per common share and unit | 0.21 | 0.37 | | Adjusted FFO per common share and unit | 0.23 | 0.38 | Hotel EBITDA Reconciliation | Reconciliation Item | Six Months Ended June 30, 2025 ($) | Six Months Ended June 30, 2024 ($) | | :--- | :--- | :--- | | Net Income | 6,289,950 | 5,987,053 | | Hotel EBITDA | 26,813,154 | 28,058,034 | [Liquidity and Capital Resources](index=63&type=section&id=Liquidity%20and%20Capital%20Resources) Discussion of cash position, significant debt maturities, capital expenditure plans, and strategies to address liquidity challenges - As of June 30, 2025, the company had approximately **$10.6 million in unrestricted cash** and **$16.0 million in restricted cash**[237](index=237&type=chunk) - The company faces significant liquidity challenges with approximately **$87.3 million in mortgages maturing in 2025** and **$68.4 million in 2026**, which it will be unable to repay out of working capital[247](index=247&type=chunk) - The company has entered into an agreement to sell the parking garage associated with The Georgian Terrace for **$17.75 million**, with proceeds intended to reduce the hotel's existing defaulted mortgage[184](index=184&type=chunk)[253](index=253&type=chunk) - Significant capital expenditures are planned for fiscal years 2025 and 2026, including approximately **$11.5 million for the Philadelphia property** and **$14.6 million for the Jacksonville property**, as required for franchise license renewals[245](index=245&type=chunk)[246](index=246&type=chunk) [Dividend Policy](index=66&type=section&id=Dividend%20Policy) Overview of the company's dividend policy, including cumulative unpaid preferred dividends and arrearage status - As of June 30, 2025, the cumulative unpaid dividends on the company's outstanding preferred shares amounted to approximately **$21.9 million**. The company resumed quarterly payments but has not yet addressed the arrearage[269](index=269&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=68&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) Details the company's exposure to market risk, primarily interest rate risk from variable-rate debt - As of June 30, 2025, the company had approximately **$240.5 million of fixed-rate debt** and **$75.4 million of variable-rate debt**. A hypothetical **1% increase** in variable rates (SOFR and Prime Rate) would increase annual interest expense by approximately **$0.5 million**[279](index=279&type=chunk)[281](index=281&type=chunk) [Controls and Procedures](index=70&type=section&id=Item%204.%20Controls%20and%20Procedures) Management's evaluation of the effectiveness of disclosure controls and internal control over financial reporting - The CEO and CFO concluded that as of June 30, 2025, the company's disclosure controls and procedures were effective[283](index=283&type=chunk) - There were no changes in internal control over financial reporting during the last fiscal quarter that materially affected, or are reasonably likely to materially affect, the company's internal controls[285](index=285&type=chunk) [PART II - Other Information](index=72&type=section&id=PART%20II) This section provides updates on legal proceedings, risk factors, equity sales, debt defaults, and other corporate information [Legal Proceedings](index=72&type=section&id=Item%201.%20Legal%20Proceedings) The company is not involved in any material legal proceedings outside of routine business litigation [Risk Factors](index=72&type=section&id=Item%201A.%20Risk%20Factors) No material changes to the company's risk factors from those disclosed in its prior annual report [Unregistered Sales of Equity Securities and Use of Proceeds](index=72&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) Disclosure of unregistered common stock shares issued upon redemption of Operating Partnership units on May 1, 2025 - On May 1, 2025, **364,086 Operating Partnership units** were redeemed for an equivalent number of common stock shares in an unregistered transaction[294](index=294&type=chunk) [Defaults Upon Senior Securities](index=72&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) Details significant defaults on preferred stock dividends and the Georgian Terrace hotel mortgage loan - Dividends on Series B, C, and D Preferred Stock are in arrears for **eleven quarterly periods**, entitling preferred stockholders to vote for the election of two additional directors[295](index=295&type=chunk) - The company received a Notice of Default for the mortgage on the Georgian Terrace hotel, which matured on June 1, 2025, with an outstanding obligation of approximately **$38.0 million** as of August 12, 2025[297](index=297&type=chunk) [Other Information](index=74&type=section&id=Item%205.%20Other%20Information) Announcement of the 2025 Annual Meeting of Stockholders and new deadlines for stockholder proposals - The 2025 Annual Meeting of Stockholders is scheduled for **November 17, 2025**, with a record date of **September 18, 2025**[302](index=302&type=chunk) [Exhibits](index=75&type=section&id=Item%206.%20Exhibits) Lists exhibits filed with the Form 10-Q, including CEO/CFO certifications and Interactive Data Files

Core Viewpoint - Sotherly Hotels (SOHO) reported quarterly funds from operations (FFO) of $0.21 per share, which fell short of the Zacks Consensus Estimate of $0.34 per share, marking a significant decline from $0.37 per share a year ago, indicating a -38.24% surprise in FFO performance [1] Financial Performance - The company posted revenues of $48.79 million for the quarter ended June 2025, missing the Zacks Consensus Estimate by 5.8% and down from $50.69 million year-over-year [2] - Over the last four quarters, Sotherly Hotels has surpassed consensus FFO estimates two times and topped consensus revenue estimates two times [2] Stock Performance - Sotherly Hotels shares have declined approximately 15.2% since the beginning of the year, contrasting with the S&P 500's gain of 8.4% [3] - The current consensus FFO estimate for the upcoming quarter is -$0.04 on revenues of $41.7 million, while for the current fiscal year, it is $0.55 on revenues of $186.8 million [7] Industry Outlook - The REIT and Equity Trust - Other industry, to which Sotherly Hotels belongs, is currently ranked in the bottom 43% of over 250 Zacks industries, suggesting potential challenges ahead [8]

Core Viewpoint - Sotherly Hotels Inc. is conducting its Q2 2025 earnings conference call, indicating a focus on financial performance and operational metrics for the quarter [1]. Group 1: Company Overview - The company is represented by key executives including Andrew Mack Sims, Anthony E. Domalski, David R. Folsom, and Scott M. Kucinski during the conference call [1][2]. - The earnings release is available on the company's website, which includes reconciled non-GAAP financial measures to GAAP measures as per regulatory requirements [3]. Group 2: Financial Performance - The call will include a review of the portfolio's key operating metrics for the second quarter, highlighting the company's performance in comparison to previous periods [6].

Financial Data and Key Metrics Changes - For the second quarter, total revenue was approximately $48.8 million, representing a decrease of 3.7% compared to the same quarter in 2024 [15] - Year-to-date total revenue was approximately $97.1 million, reflecting a decrease of 0.1% from the same period last year [16] - Hotel EBITDA for the quarter was approximately $13.9 million, a decrease of 11.5% from the same quarter in 2024 [16] - Year-to-date hotel EBITDA was approximately $26.8 million, representing a decrease of 4.4% over the same period last year [16] - Adjusted FFO for the quarter was approximately $4.8 million, a decrease of approximately $2.7 million from the same quarter in 2024 [16] - Year-to-date adjusted FFO was approximately $9.3 million, a decrease of $3.4 million from the same period last year [16] Business Line Data and Key Metrics Changes - Composite portfolio RevPAR decreased by 5.4% driven by a 3.5% decrease in occupancy and a 1.9% decrease in ADR [6] - Stripping out Tampa, the composite portfolio RevPAR decreased by 5% compared to the prior year, driven by a 2.3% decrease in occupancy and a 2.8% decrease in ADR [6] - Hotel Ballast in Wilmington posted a RevPAR increase of 1.3% year over year, driven by a 2.7% gain in average rate [10] - The Hyde Beach House delivered a RevPAR increase of 12.7%, driven by an 18.5% gain in occupancy [12] Market Data and Key Metrics Changes - Savannah saw an outsized impact during the quarter with RevPAR down nearly 10% year over year [23] - Group booking pace for the remainder of the year remains intact with only minor reductions compared to 2024 [21] - In Arlington, second quarter group revenue increased by 42% over the prior year [24] Company Strategy and Development Direction - The company remains focused on disciplined cost management and targeted revenue strategies to navigate the challenging operating environment [9] - The company is proactively managing upcoming debt maturities and is confident in its ability to work constructively with lending partners [14] - The company anticipates full year 2025 RevPAR for the actual portfolio to be approximately flat compared to last year [28] Management's Comments on Operating Environment and Future Outlook - Management noted that the portfolio underperformed expectations due to growing economic uncertainty and softening demand [7] - There is confidence in the long-term fundamentals of the Savannah market, expecting performance to recover as macro pressures ease [23] - Management expressed cautious optimism about the overall trajectory of the lodging industry despite elevated interest rates and persistent inflationary pressures [27] Other Important Information - The company had total cash of approximately $26.5 million as of June 30, 2025, with $10.5 million in unrestricted cash [18] - The company anticipates routine capital expenditures for the replacement and refurbishment of furniture fixtures and equipment to amount to approximately $7.1 million for calendar year 2025 [19] Q&A Session Summary Question: Why was Savannah the hardest hit hotel in the quarter? - Management clarified that Savannah had significant negative impacts due to a decline in transient travel and a surprising amount of government business affected by funding cuts [34][36] Question: What percentage of the portfolio is government-related business? - Management indicated that government-related business is likely in the high single digits, with some group bookings indirectly tied to government funding [38][40] Question: Does the guidance reduction reflect further government-related pullback? - Management stated that the guidance reflects the most recent forecast for the entire year based on current trends [42] Question: Are there plans for other asset sales? - Management confirmed that they are always looking at options for asset sales, including parking lots or other tangential assets [48] Question: Why is the mortgage market for hotels still challenged? - Management explained that lenders are cautious due to high debt yields and tougher debt service coverage ratios compared to pre-pandemic levels [50][52]

[Financial Performance Summary](index=1&type=section&id=Financial%20Performance%20Summary) Sotherly Hotels reported a Q2 2025 decline in key financial metrics, including revenues and a shift to net loss, reflecting decelerating hotel demand Q2 2025 vs Q2 2024 Financial Highlights ($ in thousands, except per share data) | Metric | Q2 2025 | Q2 2024 | Change (%) | | :--- | :--- | :--- | :--- | | Total Revenues ($) | $48,794 | $50,694 | -3.7 | | Net Income ($) | $1,556 | $4,664 | -66.6 | | Net (Loss) Income to Common Stockholders ($) | $(416) | $2,622 | -115.9 | | Diluted EPS ($) | $(0.02) | $0.13 | -115.4 | | Hotel EBITDA ($) | $13,892 | $15,698 | -11.5 | | Adjusted FFO ($) | $4,758 | $7,503 | -36.6 | Six Months Ended June 30, 2025 vs 2024 Financial Highlights ($ in thousands) | Metric | H1 2025 | H1 2024 | Change (%) | | :--- | :--- | :--- | :--- | | Total Revenues ($) | $97,106 | $97,243 | -0.1 | | Net Income ($) | $6,290 | $5,987 | +5.1 | | Net Income to Common Stockholders ($) | $2,274 | $1,962 | +15.9 | | Hotel EBITDA ($) | $26,813 | $28,058 | -4.4 | | Adjusted FFO ($) | $9,275 | $12,683 | -26.9 | - The CEO, Dave Folsom, attributed the Q2 **deceleration in hotel demand** to broader macroeconomic uncertainty, including the interest rate climate and tariffs, while noting resilient group booking pace[5](index=5&type=chunk) [Key Operating Metrics](index=3&type=section&id=Key%20Operating%20Metrics) The composite portfolio's Q2 2025 RevPAR decreased by **5.4%** to **$130.20**, driven by declines in occupancy and ADR Composite Portfolio Key Metrics - Q2 2025 vs Q2 2024 | Metric | Q2 2025 | Q2 2024 | Change (%) | | :--- | :--- | :--- | :--- | | RevPAR ($) | $130.20 | $137.67 | -5.4 | | Occupancy (%) | 70.8 | 73.4 | -3.5 | | ADR ($) | $183.88 | $187.51 | -1.9 | Composite Portfolio Key Metrics - Six Months Ended June 30 | Metric | H1 2025 | H1 2024 | Change (%) | | :--- | :--- | :--- | :--- | | RevPAR ($) | $129.97 | $130.64 | -0.5 | | Occupancy (%) | 69.8 | 69.2 | +0.9 | | ADR ($) | $186.14 | $188.91 | -1.5 | [Balance Sheet, Liquidity, and Strategic Updates](index=3&type=section&id=Balance%20Sheet%2C%20Liquidity%2C%20and%20Strategic%20Updates) Sotherly reported **$26.5 million** cash and **$315.8 million** debt as of June 30, 2025, with a **$17.75 million** parking garage sale planned to reduce debt - As of June 30, 2025, the Company had approximately **$26.5 million** of available cash and cash equivalents, of which about **$16.0 million** was restricted[7](index=7&type=chunk) - Total outstanding debt principal was approximately **$315.8 million** with a weighted average interest rate of **5.89%**[7](index=7&type=chunk) - The company has entered an agreement to sell the parking garage associated with the Georgian Terrace hotel in Atlanta for **$17.75 million**, expected to close in **Q4 2025**, with proceeds used to pay down the existing mortgage[6](index=6&type=chunk)[8](index=8&type=chunk) [Revised 2025 Outlook](index=3&type=section&id=2025%20Outlook) The company revised its full-year 2025 guidance downwards, anticipating lower revenues, a wider net loss, and reduced Hotel EBITDA and Adjusted FFO Revised Full-Year 2025 Guidance (Low Range) | Metric | Previous Guidance | Revised Guidance | Change (%) | | :--- | :--- | :--- | :--- | | Total Revenues ($k) | $183,388 | $185,157 | +1.0 | | Net Loss ($k) | $(676) | $(1,230) | -81.9 | | Hotel EBITDA ($k) | $48,829 | $45,340 | -7.1 | | Adj. FFO per Share ($) | $0.57 | $0.34 | -40.4 | | RevPAR ($) | $119.77 | $115.98 | -3.2 | Revised Full-Year 2025 Guidance (High Range) | Metric | Previous Guidance | Revised Guidance | Change (%) | | :--- | :--- | :--- | :--- | | Total Revenues ($k) | $188,168 | $188,168 | 0.0 | | Net Income/Loss ($k) | $129 | $(624) | -583.7 | | Hotel EBITDA ($k) | $49,619 | $45,821 | -7.7 | | Adj. FFO per Share ($) | $0.61 | $0.37 | -39.3 | | RevPAR ($) | $122.89 | $117.15 | -4.7 | [Financial Tables](index=8&type=section&id=Financial%20Tables) This section presents detailed unaudited financial statements, including balance sheets, statements of operations, property operating metrics, and non-GAAP reconciliations [Consolidated Balance Sheets](index=8&type=section&id=Consolidated%20Balance%20Sheets) As of June 30, 2025, total assets were **$411.1 million**, liabilities **$366.8 million**, and equity **$44.3 million**, reflecting minor shifts from year-end 2024 Balance Sheet Summary ($ in thousands) | Account | June 30, 2025 | Dec 31, 2024 | | :--- | :--- | :--- | | Total Assets ($) | $411,118 | $414,376 | | Total Liabilities ($) | $366,835 | $372,777 | | Total Equity ($) | $44,282 | $41,599 | [Consolidated Statements of Operations](index=9&type=section&id=Consolidated%20Statements%20of%20Operations) For Q2 2025, total revenues were **$48.8 million**, net operating income **$6.6 million**, and the company reported a **$0.4 million** net loss Q2 Statement of Operations Summary ($ in thousands) | Account | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | Total Revenue ($) | $48,794 | $50,694 | | Total Hotel Operating Expenses ($) | $34,902 | $34,997 | | Net Operating Income ($) | $6,575 | $9,300 | | Net Income ($) | $1,556 | $4,664 | | Net (Loss) Income to Common Stockholders ($) | $(416) | $2,622 | [Supplemental Data](index=11&type=section&id=Supplemental%20Data) This section details individual hotel property operating metrics (Occupancy, ADR, RevPAR) for Q2 and YTD periods across 2023-2025, showing varied performance - The tables provide **detailed Occupancy, ADR, and RevPAR data** for each individual hotel property in the portfolio for Q2 and YTD across 2025, 2024, and 2023[26](index=26&type=chunk) Q2 2025 RevPAR Performance for Select Properties | Property | Q2 2025 RevPAR ($) | Q2 2024 RevPAR ($) | YoY Change (%) | | :--- | :--- | :--- | :--- | | The DeSoto, Savannah | $171.69 | $190.14 | -9.7 | | Hotel Ballast, Wilmington | $168.61 | $166.44 | +1.3 | | Hyatt Centric, Arlington | $191.89 | $198.42 | -3.3 | | Georgian Terrace, Atlanta | $92.99 | $109.51 | -15.1 | [Reconciliation of Non-GAAP Measures](index=14&type=section&id=Reconciliation%20of%20Non-GAAP%20Measures) This section provides detailed reconciliations of GAAP Net Income to non-GAAP measures like FFO, Adjusted FFO, EBITDA, and Hotel EBITDA Q2 2025 Reconciliation Summary ($ in thousands) | Metric | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | Net Income ($) | $1,556 | $4,664 | | FFO Attributable to Common Stockholders ($) | $4,317 | $7,356 | | Adjusted FFO Attributable to Common Stockholders ($) | $4,758 | $7,503 | | EBITDA ($) | $12,022 | $14,292 | | Hotel EBITDA ($) | $13,892 | $15,698 | - The company provides definitions for FFO, Adjusted FFO, EBITDA, and Hotel EBITDA, explaining them as **key supplemental measures of performance** used by industry analysts and investors[35](index=35&type=chunk)[36](index=36&type=chunk)[38](index=38&type=chunk)