Sotherly Hotels Inc.: Q4 and Full-Year 2024 Financial Results
Williamsburg, VA, March 13, 2025 – Sotherly Hotels Inc. (NASDAQ: SOHO), a self-managed and self-administered lodging real estate investment trust (REIT), recently announced its financial results for the fourth quarter and year ended December 31, 2024. Let’s dive into the details:
Fourth Quarter Highlights:
– Adjusted EBITDA: $10.4 million, an increase of 15.6% compared to the same quarter in the previous year.
– Revenue per available room (RevPAR): $65.22, a 9.4% increase compared to Q4 2023.
– Net income: $2.7 million, a significant improvement from a net loss of $2.4 million in Q4 2023.
Full-Year Highlights:
– Adjusted EBITDA: $40.1 million, a 14.6% increase compared to 2023.
– RevPAR: $61.36, a 7.9% increase compared to 2023.
– Net income: $11.3 million, compared to a net loss of $3.6 million in 2023.
What Does This Mean for You?
As an investor, these results are a positive sign for Sotherly Hotels. The company’s revenue and earnings are on an upward trend, which can increase the value of your investment. Additionally, the improvement in net income indicates that the company is becoming more profitable.
What Does This Mean for the World?
The hospitality industry as a whole is showing signs of recovery from the COVID-19 pandemic. Sotherly Hotels’ strong financial performance is an indicator that travelers are once again feeling comfortable enough to book hotel stays. This is good news for businesses that rely on tourism, as well as for individuals who work in the industry.
Conclusion:
Sotherly Hotels’ fourth quarter and full-year 2024 financial results are a cause for celebration. The company’s revenue and earnings are on the rise, and its net income is no longer in the red. These results are not only good news for Sotherly Hotels investors but also for the hospitality industry as a whole. As more people begin to travel again, companies like Sotherly Hotels are poised to benefit.
- Sotherly Hotels reports Q4 and full-year 2024 financial results
- Adjusted EBITDA, RevPAR, and net income all show improvement
- Positive sign for Sotherly Hotels investors
- Indicates broader recovery in hospitality industry
