Benzinga | Jan 5, 2022 03:02PM EST

Sotherly Hotels Reports Prelim. Q4 Occupancy Rates: 54.1%, Down 19.5% From Q4'19, Revenue Per Available Room $82.08, Down 19.1% From Q4'19

Sotherly Hotels Inc. (NASDAQ:SOHO), ("Sotherly" or the "Company"), a self-managed and self-administered lodging real estate investment trust (a "REIT"), today reported preliminary operating results for the Company's twelve wholly-owned properties ("actual" portfolio metrics). Accordingly, the actual data does not include the participating condominium hotel rooms of the Hyde Resort & Residences and the Hyde Beach House. Preliminary actual portfolio metrics for the fourth quarter 2021 were as follows:

October Results November Results October % Variance to November % Variance to 2021 2019 2021 2019Occupancy 60.0 % -21.9 % Occupancy 55.9 % -18.0 %ADR 160.07 -1.5 % ADR 148.38 -2.5 %RevPAR 95.31 -23.0 % RevPAR 82.48 -20.0 % December Results Fourth Quarter Results December % Variance to Q4 2021 % Variance to 2021 2019 2019Occupancy 46.4 % -17.9 % Occupancy 54.1 % -19.5 %ADR 148.82 7.4 % ADR 152.88 0.4 %RevPAR 68.46 -11.8 % RevPAR 82.08 -19.1 %

"We're pleased with these preliminary results for the quarter, which display the continued improvement in operating fundamentals on a monthly basis," commented Dave Folsom, the Company's President and Chief Executive Officer. "Despite ongoing disruption caused by new COVID variants, we believe our industry is in a sustained recovery and believe our portfolio is well positioned to outperform our peers."