SoTHERLY Hotels (SOHO) Misses Q3 FFO by 7c; FY16 FFO Outlook Lowered
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SoTHERLY Hotels (NASDAQ: SOHO) reported Q3 EPS of $0.16, $0.07 worse than the analyst estimate of $0.23. Revenue for the quarter came in at $37.28 million versus the consensus estimate of $36.23 million.
Room revenue per available room (“RevPAR”) for the Company’s wholly-owned properties during the third quarter 2016 increased 6.6% over the third quarter 2015 to $96.26 driven by a 1.5% increase in occupancy and a 5.0% increase in average daily rate (“ADR”). For the nine month period ending September 30, 2016, RevPAR increased 7.0% over the nine months ended September 30, 2015, to $101.69 driven by a 0.9% increase in occupancy and a 6.0% increase in ADR.
SoTHERLY Hotels sees FY2016 EPS of $1.00-$1.01, versus prior guidance of $1.15-$1.23 and the consensus of $1.14.
For earnings history and earnings-related data on SoTHERLY Hotels (SOHO) click here.
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