SoTHERLY Hotels (SOHO) Misses Q2 FFO by 13c

SoTHERLY Hotels (NASDAQ: SOHO) reported Q2 FFO of $0.39, $0.13 worse than the analyst estimate of $0.52. Revenue for the quarter came in at $41.83 million versus the consensus estimate of $42.46 million.

RevPAR. Room revenue per available room (“RevPAR”) for the Company’s wholly-owned properties during the second quarter 2016 increased 1.7% over the second quarter 2015 to $109.16 driven by a 0.8% increase in occupancy and a 0.9% increase in average daily rate (“ADR”). Excluding the performance of our Jeffersonville, Indiana property over the weekend of the Kentucky Derby, RevPAR for the Company’s wholly-owned properties during the second quarter 2016 increased 6.5% over the second quarter 2015 driven by a similar increase in occupancy and a 5.6% increase in ADR. For the six month period ending June 30, 2016, RevPAR increased 7.0% over the six months ended June 30, 2015, to $104.44 driven by a 0.5% increase in occupancy and a 6.3% increase in ADR. Excluding the performance of our Jeffersonville, Indiana property over the weekend of the Kentucky Derby, RevPAR for the Company’s wholly-owned properties for the six month period ending June 30, 2016, increased 9.7% over the six months ended June 30, 2015.

For earnings history and earnings-related data on SoTHERLY Hotels (SOHO) click here.

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