Sotherly Hotels(SOHO) Newsfilter·2025-03-13 10:30Core Viewpoint Sotherly Hotels Inc. reported its financial results for the fourth quarter and full year of 2024, showing an increase in total revenues and Hotel EBITDA, despite a net loss attributable to common stockholders. The company is optimistic about ongoing improvements in demand across its hotel portfolio as it transitions into 2025. Financial Performance - Total revenues for Q4 2024 were approximately 42.1 million in Q4 2023, representing a 4.2% increase [2][3] - For the full year 2024, total revenues increased to approximately 173.8 million in 2023, marking a 4.6% growth [2][3] - Net loss attributable to common stockholders for Q4 2024 was approximately 2.7 million in Q4 2023, reflecting a 12.4% increase in loss [5] - For the full year, net loss attributable to common stockholders increased by 65.4% to approximately 4.0 million in 2023 [5] Key Metrics - RevPAR for Q4 2024 was 106.25 in Q4 2023, driven by a 4.1% increase in occupancy [2][3] - For the full year, RevPAR increased by 3.7% to 114.96 in 2023 [2] - Hotel EBITDA for Q4 2024 was approximately 10.3 million in Q4 2023, a 3.9% increase [5] - Adjusted FFO for Q4 2024 decreased by 30.3% to approximately 2.8 million in Q4 2023 [5] Balance Sheet and Liquidity - As of December 31, 2024, the company had approximately 21.4 million reserved for various expenses [4] - The company had outstanding debt of approximately $319.3 million at a weighted average interest rate of 5.88% [4] 2025 Outlook - The company is encouraged by improvements in demand in markets that were slow to recover post-pandemic, particularly in Houston, Atlanta, Hollywood (Florida), and Philadelphia [3] - Guidance for 2025 includes expectations for continued revenue growth and profitability improvements across its portfolio [5]