Sotherly Hotels Q1 2023 same-store RevPAR up 21.4% YoY, occupancy up 11.4%

Sotherly Hotels Inc.

2023-FY EPS reported -$0.03 revenue$43,491,277

Q1 2023 occupancy 60.5% (+11.4% YoY); ADR $189.08 (+9.2%); RevPAR $113.28 (+21.4%).
January RevPAR surged 40.0% YoY to $84.48; February RevPAR +33.9% to $120.09.
March RevPAR $135.93 (+5.0% YoY), occupancy 69.4% (-0.7% vs 2022).
CEO cites sustained leisure demand and improved group/business travel, especially urban hotels.
Preliminary results exclude Hyde Resort, Sheraton Louisville, and DoubleTree Raleigh.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Sotherly Hotels Inc. reported preliminary financial results for first quarter ended March 31, 2023.

Period: first quarter ended March 31, 2023
Result: preliminary results

Exact text from the filing

On April 3, 2023, Sotherly Hotels Inc., a Maryland corporation (the “Company”) and the sole general partner of Sotherly Hotels LP, a Delaware limited partnership, issued a press release (the “Press Release”) announcing preliminary operating results of its portfolio of wholly-owned hotels for the quarter ended March 31, 2023.

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Sotherly Hotels Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-011603

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