Sotherly Hotels Inc. 7.875% Preferred Stock (SOHOO)
NASDAQ (NMS) NASDAQ (NMS) Primary Summary
Sotherly Hotels Inc. (SOHO) Q2 2024 Earnings Call Transcript
Sotherly Hotels Inc. (NASDAQ:SOHO ) Q2 2024 Earnings Conference Call August 13, 2024 10:00 AM ET Company Participants Mack Sims – Vice President-Operations Scott Kucinski – Executive Vice President and Chief Operating Officer Tony Domalski – Chief Financial Officer Dave Folsom – President and Chief Executive Officer Conference Call Participants Connor Mitchell – Piper Sandler Operator Good morning, all, and thank you for joining us for the Sotherly Hotels Q2 2024 Conference Call and Webcast. My name is Carly, and I'll be coordinating your call today.
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Sotherly Hotels Inc. 7.875% Preferred Stock Profile
| Hotel & Resort REITs Industry | Real Estate Sector | David R. Folsom CEO | NASDAQ (NMS) Exchange | 83600C400 CUSIP |
| US Country | 9 Employees | 31 Oct 2025 Last Dividend | - Last Split | 5 Oct 2017 IPO Date |
Overview
Sotherly Hotels Inc., established in 2004 and based in Williamsburg, Virginia, operates as a self-managed and self-administered lodging Real Estate Investment Trust (REIT). The company primarily focuses on the southern United States, committing to the acquisition, renovation, upbranding, and repositioning of upscale to upper-upscale full-service hotels. Despite its focus on the Southern United States, Sotherly Hotels Inc. remains open to opportunistic acquisitions across the entire country. The company's portfolio currently comprises investments in ten hotel properties totaling 2,786 rooms, alongside interests in two condominium hotels and their rental programs. Sotherly Hotels Inc. has a diverse range of hotels, including properties operating under globally recognized brands such as Hilton Worldwide and Hyatt Hotels Corporation, in addition to independent hotels, indicating a versatile investment and operational strategy.
Products and Services
- Acquisition of Upscale to Upper-Upscale Full-Service Hotels
Sotherly Hotels Inc. specializes in identifying and acquiring upscale to upper-upscale full-service hotels in strategic locations. These acquisitions are primarily focused in the Southern United States but can extend to opportunistic purchases across the United States. After acquisition, these properties undergo renovation, upbranding, and repositioning to enhance their value and appeal.
- Renovation, Upbranding, and Repositioning Services
Integral to its operational strategy, Sotherly Hotels Inc. undertakes significant renovation projects aimed at upgrading the facilities and services of its hotel properties. This often involves upbranding efforts to align the hotels with prestigious hospitality brands like Hilton Worldwide and Hyatt Hotels Corporation, or enhancing independent properties to elevate their market positioning.
- Hotel Portfolio Management
Sotherly Hotels Inc. manages a diverse portfolio of hotel properties, including fully-owned hotels, condominium hotels, and their associated rental programs. The company's portfolio management strategy focuses on maximizing revenue and operational efficiency, ensuring each property delivers optimal performance.
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