SoTHERLY Hotels (SOHO) Misses Q4 EPS by 4c, Revenues Beat; Offers FY20 Revenue Guidance Below Consensus

SoTHERLY Hotels (NASDAQ: SOHO) reported Q4 EPS of ($0.27), $0.04 worse than the analyst estimate of ($0.23). Revenue for the quarter came in at $44.31 million versus the consensus estimate of $44 million.

Andrew M. Sims, Chairman of the board of directors of Sotherly Hotels Inc., commented, “The fourth quarter of 2019 was one of the most active and memorable quarters in the company’s long history. We executed on our plan to replace our management partner for the core portfolio with Our Town Hospitality. We also completed a Succession Plan that saw the promotion of Dave Folsom to Chief Executive Officer and included two additional in-house promotions to our senior management team. We believe this team is well-positioned to lead the Company moving forward. We opened and commenced our rental program at the new Hyde Beach House Resort & Residences, a condominium hotel located in Hollywood, Florida, and we took possession of a new ballroom and structured parking at our DoubleTree Resort in Hollywood. The completion of the renovations at our newly converted Hotel Alba Tampa represents the culmination of five years of significant capital improvements across our portfolio. We believe all these events bode well for the future success of the company.”

GUIDANCE:

SoTHERLY Hotels sees FY2020 revenue of $184.1-188 million, versus the consensus of $192.5 million.

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

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