Duyuru • Apr 02
Sotherly Hotels Inc. announced delayed annual 10-K filing On 04/01/2026, Sotherly Hotels Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC. Duyuru • Feb 14
Sotherly Hotels Inc.(NasdaqCM:SOHO) dropped from NASDAQ Composite Index Sotherly Hotels Inc.has been dropped from the NASDAQ Composite Index Duyuru • Feb 13
KW Kingfisher LLC, Investment Arm completed the acquisition of Sotherly Hotels Inc. (NasdaqCM:SOHO). KW Kingfisher LLC, Investment Arm entered into an agreement and plan of merger to acquire Sotherly Hotels Inc. (NasdaqCM:SOHO) for $46.3 million on October 24, 2025. A cash consideration valued at $2.25 per share will be paid by KW Kingfisher LLC, Investment Arm. The Merger Consideration represents a premium of 152.7% to the Company’s closing share price on October 24, 2025, the last trading day prior to the announcement of the transaction, and a 126.4% premium to the volume weighted average share price over the previous 30 days. Affiliates of Apollo (NYSE: APO) and Ascendant provided debt financing commitments to the Joint Venture in connection with the transaction. In case of termination of transaction, KW Kingfisher LLC, Investment Arm will pay a termination fee of $8 million, and seller will pay a termination fee of $4 million.
The Merger is expected to close in the first quarter of 2026, subject to approval by Sotherly stockholders and customary closing conditions. Andrew Sims, Sotherly’s Chairman of the Board and one of the Company’s largest stockholders, has agreed to vote all of his shares in favor of the transaction. The Merger Agreement has been unanimously approved by Sotherly’s full board of directors (the “Board”) following a unanimous recommendation from a special committee comprised of independent directors of the Board (the “Special Committee”). As on January 22, 2026, the transaction has been approved by Sotherly Hotels Inc shareholders.
Piper Sandler & Co. is serving as exclusive financial advisor and fairness opinion provider to the Special Committee and Jeff Hallos and James Giesel of FBT Gibbons LLP are serving as legal advisors to the Special Committee of Sotherly Hotels Inc. Richard Mattern of Bass, Berry & Sims PLC is serving as legal advisor to KWHP. Yaakov Sheinfeld, Scott Golenbock, Antonio Diaz-Albertini, and Kelsey Breck Baumberger of Milbank LLP served as debt counsel for KWHP. Berkadia is acting as the sole financial advisor and is arranging the financing for KWHP.
KW Kingfisher LLC, Investment Arm completed the acquisition of Sotherly Hotels Inc. (NasdaqCM:SOHO) on February 12, 2026. Duyuru • Oct 27
KW Kingfisher LLC, Investment Arm entered into an agreement and plan of merger to acquire Sotherly Hotels Inc. (NasdaqCM:SOHO) for $46.3 million. KW Kingfisher LLC, Investment Arm entered into an agreement and plan of merger to acquire Sotherly Hotels Inc. (NasdaqCM:SOHO) for $46.3 million on October 24, 2025. A cash consideration valued at $2.25 per share will be paid by KW Kingfisher LLC, Investment Arm. The Merger Consideration represents a premium of 152.7% to the Company’s closing share price on October 24, 2025, the last trading day prior to the announcement of the transaction, and a 126.4% premium to the volume weighted average share price over the previous 30 days. Affiliates of Apollo (NYSE: APO) and Ascendant provided debt financing commitments to the Joint Venture in connection with the transaction. In case of termination of transaction, KW Kingfisher LLC, Investment Arm will pay a termination fee of $8 million and seller will pay a termination fee of $4 million.
The Merger is expected to close in the first quarter of 2026, subject to approval by Sotherly stockholders and customary closing conditions. Andrew Sims, Sotherly’s Chairman of the Board and one of the Company’s largest stockholders, has agreed to vote all of his shares in favor of the transaction. The Merger Agreement has been unanimously approved by Sotherly’s full board of directors (the “Board”) following a unanimous recommendation from a special committee comprised of independent directors of the Board (the “Special Committee”).
Piper Sandler & Co. is serving as exclusive financial advisor and fairness opinion provider to the Special Committee and Jeff Hallos and James Giesel of Frost Brown Todd LLP are serving as legal advisors to the Special Committee of Sotherly Hotels Inc. Richard Mattern of Bass, Berry & Sims PLC is serving as legal advisor to KWHP. Milbank LLP served as debt counsel for KWHP. Berkadia is acting as the sole financial advisor and is arranging the financing for KWHP. Duyuru • Oct 07
Sotherly Hotels Inc. to Report Q3, 2025 Results on Nov 13, 2025 Sotherly Hotels Inc. announced that they will report Q3, 2025 results at 9:30 AM, US Eastern Standard Time on Nov 13, 2025 Duyuru • Aug 14
Sotherly Hotels Receives a Notification Letter from the Nasdaq Listing Qualifications Department of the Nasdaq Stock Market On August 12, 2025, Sotherly Hotels Inc., received a notification letter from the Nasdaq Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that it had been granted an additional 180 days, or until February 9, 2026 (the “Second Compliance Period”), to regain compliance with the minimum bid price requirement for continued listing on The Nasdaq Capital Market under Nasdaq Marketplace Rule 5550(a)(2), requiring a minimum bid price of $1.00 per share (the “Minimum Bid Price Requirement”), based on the Company meeting the continued listing requirement for market value of publicly held shares and all other applicable requirements for initial listing on The Nasdaq Capital Market with the exception of the bid price requirement, and the Company’s written notice of its intention to cure the deficiency during the second compliance period. In order to be eligible to receive the Second Compliance Period, the Company applied to have its common stock (the “Common Stock”) transferred from the Nasdaq Global Select Market to the Nasdaq Capital Market. In connection with the grant of the Second Compliance Period, the application was approved and the Common Stock will move to the Nasdaq Capital Market effective at the opening of business on August 14, 2025. As previously disclosed by the Company in a Current Report on Form 8-K filed on February 14, 2025, the Company received a notification letter from the Staff notifying the Company that, because the closing bid price for the Common Stock listed on the Nasdaq Global Select Market was below $1.00 for 30 consecutive business days, the Company no longer met the Minimum Bid Price Requirement. If at any time before February 9, 2026, the bid price of the Common Stock closes at $1.00 per share or more for a minimum of 10 consecutive business days, the Staff will provide written confirmation that the Company has achieved compliance, subject to the Staff’s discretion to extend the minimum bid price compliance period. If the Company does not regain compliance with the Minimum Bid Price Requirement by the end of the Second Compliance Period, the Common Stock will become subject to delisting. In the event that the Company receives notice that the Common Stock is being delisted, the Nasdaq listing rules permit the Company to appeal a delisting determination by the Staff to a hearings panel. The Nasdaq Capital Market operates in substantially the same manner as the Nasdaq Global Select Market, and the Company’s Common Stock will continue to be listed and traded under the symbol “SOHO.” The Company intends to continue to monitor the closing bid price of the Common Stock between now and February 9, 2026, and will consider available options to regain compliance with the Minimum Bid Price Requirement, including effecting a reverse stock split, if necessary. However, there can be no assurance that the Company will be able to regain compliance with the Minimum Bid Price Requirement or will otherwise be in compliance with other Nasdaq Listing Rules. Duyuru • Aug 12
Sotherly Hotels Inc. Updates Earnings Guidance for the Year 2025 Sotherly Hotels Inc. updated earnings guidance for the year 2025. For the year, the company expects total revenues of $185,157,000 - $188,168,000 against previous guidance of $183,388,000 - $188,168,000. Net (loss) income of ($1,230,000) - ($624,000) against previous guidance of ($676,000) - $129,000. Net loss per share attributable to common stockholders of ($0.46) - ($0.43) against previous guidance of ($0.43) - ($0.39). Duyuru • Jul 21
Sotherly Hotels Inc., Annual General Meeting, Nov 17, 2025 Sotherly Hotels Inc., Annual General Meeting, Nov 17, 2025. Duyuru • Jul 16
Sotherly Hotels Inc. to Report Q2, 2025 Results on Aug 12, 2025 Sotherly Hotels Inc. announced that they will report Q2, 2025 results Pre-Market on Aug 12, 2025 Duyuru • Jul 03
Sotherly Hotels Inc. Announces Notice of Default on Mortgage Loan Secured by the Georgian Terrace Hotel in Atlanta Sotherly Hotels Inc. announced the Company received a Notice of Default (the “Notice”) from the special servicer for its mortgage loan secured by the Georgian Terrace in Atlanta. The Notice states that the Company’s subsidiary, SOHO Atlanta LLC, is in default under the note and the loan documents by virtue of, among other things, its failure to pay all amounts when due thereunder, and that the current lender, Wilmington Trust, National Association, as Trustee, will take all such actions as it deems appropriate to protect its interest in the mortgage loan and to collect the debt thereunder, including, without limitation, seeking foreclosure and/or reconveyance of its security under the loan documents without further notice or demand except as required pursuant to state law and the loan documents. The Company estimates that the amount of direct financial obligation, as of July 2, 2025, is approximately $38.0 million. The Company has engaged a consultant to negotiate for an extension of the mortgage loan with the special servicer, and proposed extension terms have been provided to the special servicer. The Company intends to continue making interest payments, as well as real estate tax escrow, and required reserve payments in the interim. Duyuru • May 14
Sotherly Hotels Inc. Reiterates Earnings Guidance for the Fiscal Year 2025 Sotherly Hotels Inc. reiterated earnings guidance for the fiscal year 2025. For the year, the company expects total revenue in the range of $183.4 million to $188.2 million for full year 2025. At the midpoint of this guidance, it represents a 2.1% increase over the prior year. Net loss in the range of $676,000 to net income of $129,000 and Net loss attributable to common stockholders and unitholders in the range of $8,651,000 to $7,846,000. Net loss per share attributable to common stockholders in the range of $0.43 to $0.39. Duyuru • Apr 03
Sotherly Hotels Inc. to Report Q1, 2025 Results on May 13, 2025 Sotherly Hotels Inc. announced that they will report Q1, 2025 results Pre-Market on May 13, 2025 Duyuru • Mar 13
Sotherly Hotels Inc. Provides Earnings Guidance for the Fiscal Year 2025 Sotherly Hotels Inc. provided earnings guidance for the fiscal year 2025. For the year, the company expects total revenues in the range of $183,388,000 to $188,168,000, net loss in the range of $676,000 to net income of $129,000 and Net loss per share attributable to common stockholders in the range of $0.43 to $0.39. Duyuru • Feb 15
Sotherly Hotels Inc. Receives A Deficiency Letter from Nasdaq Regarding Minimum Bid Price Requirement On February 11, 2025, Sotherly Hotels Inc. (the Company") received a deficiency letter (the Notice") from The Nasdaq Stock Market LLC (Nasdaq"), notifying the Company that, for the last 30 consecutive business days, the closing bid price for the Company's common stock has been below the minimum $1.00 bid price per share requirement for continued listing on The Nasdaq Global Market pursuant to Listing Rule 5450(a)(1) (the Minimum Bid Price Requirement"). The Notice has no immediate effect on the listing of the Company's common stock, and its common stock will continue to trade on The Nasdaq Global Market under the symbol SOHO." In accordance with Listing Rule 5810(c)(3)(A), the Company has been given 180 calendar days, or until August 11, 2025, to regain compliance with the Minimum Bid Price Requirement. If at any time before August 11, 2025, the bid price of the Company's common stock closes at $1.00 per share or more for a minimum of 10 consecutive business days, Nasdaq will provide written notification to the Company that it has achieved compliance. If the Company does not regain compliance with the Minimum Bid Price Requirement by August 11, 2025, the Company may be eligible for an additional 180 calendar day period to regain compliance. To qualify, the Company would be required to transfer to The Nasdaq Capital Market and meet the continued listing and all other applicable requirements for initial listing on The Nasdaq Capital Market, except for the minimum bid price requirement. In addition, the Company would be required to notify Nasdaq of its intent to cure the deficiency during the second compliance period. If Nasdaq concludes that the Company will not be able to cure the deficiency, or if the Company does not regain compliance with the minimum bid price requirement within such additional 180 calendar day compliance period, Nasdaq will provide written notification to the Company that the Company's common stock will be subject to delisting. The Company will have the right to appeal a delisting determination and the Company's common stock will remain listed on Nasdaq until the completion of the appeal process. Duyuru • Feb 12
Sotherly Hotels Inc. to Report Q4, 2024 Results on Mar 13, 2025 Sotherly Hotels Inc. announced that they will report Q4, 2024 results Pre-Market on Mar 13, 2025 Duyuru • Nov 15
Sotherly Hotels Inc. announced delayed 10-Q filing On 11/14/2024, Sotherly Hotels Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Duyuru • Nov 13
Sotherly Hotels Inc. Revises Earnings Guidance for the Year 2024 Sotherly Hotels Inc. revised earnings guidance for the year 2024. For the year, the company expects Total revenue of $177,795,000 to $180,138,000 compared to previous guidance of $178,952,000 to $182,567,000. Net loss of $497,000 to net income of $100,000 compared to previous guidance net income of $1,598,000 to $2,593,000. Net loss attributable to common stockholders and unitholders of $8,472,000 to $7,875,000 compared to previous guidance of $6,377,000 to $5,382,000. Duyuru • Oct 09
Sotherly Hotels Inc. to Report Q3, 2024 Results on Nov 12, 2024 Sotherly Hotels Inc. announced that they will report Q3, 2024 results Pre-Market on Nov 12, 2024 Duyuru • Aug 25
Sotherly Hotels Receives Notification of Deficiency from Nasdaq Related to Delayed Filing of Quarterly Report on Form 10-Q Sotherly Hotels Inc. (the ‘Company’) announced that it has received a notice (‘Notice’) from the Listing Qualifications Department of The Nasdaq Stock Market (‘Nasdaq’) as a result of its failure to file its Quarterly Report on Form 10-Q for the quarter ended June 30, 2024 (the ‘Form 10-Q’) in a timely fashion. The Notice advised the Company that it was not in compliance with Nasdaq’s continued listing requirements under the timely filing criteria established in Nasdaq Listing Rule 5250(c)(1). As reported by the Company in its Form 12b-25 filed with the Securities and Exchange Commission (the ‘SEC’) on August 12, 2024, the Company’s Form 10-Q cannot be filed within the prescribed time period without unreasonable effort or expense as a result of ongoing evaluation of the presentation of the preferred units on the balance sheet of its operating partnership as permanent equity, rather than as temporary equity (mezzanine), as well as ongoing evaluation of the accounting for other items. Previously, Nasdaq granted the Company an exception until November 18, 2024 to file its delinquent Form 10-Q for the period ended March 31, 2024 (the ‘Initial Delinquent Filing’). As a result, any additional Nasdaq exception will be limited to a maximum of 180 calendar days from the due date of the Initial Delinquent Filing, or until November 18, 2024. In accordance with Nasdaq’s listing rules, the Company has until September 4, 2024 to submit to Nasdaq an update to its original plan to regain compliance with Nasdaq's listing rules. As noted above, the Company is working diligently to complete its Form 10-Q. The Company intends to file the Form 10-Q as soon as practicable to regain compliance with the Nasdaq Listing Rules. No assurance can be given that the Company will be able to regain compliance with the aforementioned listing requirement or maintain compliance with the other continued listing requirements set forth in the Nasdaq Listing Rules. The Notice has no immediate effect on the listing of the Company’s common stock or preferred stock on the Nasdaq Global Market. Duyuru • Aug 14
Sotherly Hotels Inc. Provides Earnings Guidance for the Year 2024 Sotherly Hotels Inc. provided earnings guidance for the year 2024. For the year, the company expects Net income of $1,598 million - $2,593 million. Duyuru • Aug 13
Sotherly Hotels Inc. announced delayed 10-Q filing On 08/12/2024, Sotherly Hotels Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Duyuru • Jul 17
Sotherly Hotels Inc. to Report Q2, 2024 Results on Aug 13, 2024 Sotherly Hotels Inc. announced that they will report Q2, 2024 results Pre-Market on Aug 13, 2024 Duyuru • May 31
Sotherly Hotels Receives Notification of Deficiency from Nasdaq Related to Delayed Filing of Quarterly Report on Form 10-Q Sotherly Hotels Inc. announced that it has received a notice from the Listing Qualifications Department of The Nasdaq Stock Market as a result of its failure to file its Quarterly Report on Form 10-Q for the quarter ended March 31, 2024 in a timely fashion. The Notice advised the Company that it was not in compliance with Nasdaq’s continued listing requirements under the timely filing criteria established in Nasdaq Listing Rule 5250(c)(1). As reported by the Company in its Form 12b-25 filed with the Securities and Exchange Commission on May 16, 2024, the Company’s Form 10-Q cannot be filed within the prescribed time period without unreasonable effort or expense as a result of ongoing evaluation of the presentation of the preferred units on the balance sheet of the Partnership as permanent equity, rather than as temporary equity (mezzanine), as well as ongoing evaluation of the accounting for other items. Nasdaq has informed the Company that, under Nasdaq rules, the Company will have 60 calendar days from the date of the Notice (May 22, 2024), or until July 21, 2024, to submit a plan to regain compliance with the Nasdaq rules. The Company can regain compliance with Nasdaq listing standards during this sixty-day period when the Company files its Form 10-Q with the SEC. If Nasdaq accepts the Company's plan, then Nasdaq may grant an exception of up to 180 calendar days from the due date of the Form 10-Q (May 15, 2024), or until November 11, 2024, to regain compliance. If Nasdaq does not accept the Company’s plan, then the Company will have the opportunity to appeal that decision to a Nasdaq hearings panel. As noted above, the Company is working diligently to complete its Form 10-Q. The Company intends to file the Form 10-Q as soon as practicable to regain compliance with the Nasdaq Listing Rules. No assurance can be given that the Company will be able to regain compliance with the aforementioned listing requirement or maintain compliance with the other continued listing requirements set in the Nasdaq Listing Rules. The Notice has no immediate effect on the listing of the Company’s common stock or preferred stock on the Nasdaq Global Market. Duyuru • May 18
Sotherly Hotels Inc. announced delayed 10-Q filing On 05/16/2024, Sotherly Hotels Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Duyuru • May 10
Sotherly Hotels Lp Reaffirms Earnings Guidance for the Year 2024 Sotherly Hotels LP reaffirmed earnings guidance for the year 2024. For the period, the company expects total revenue to be in the range of $178,952,000 to $182,567,000, net income to be in the range of $1,598,000 to $2,593,000 and net loss available to common stockholders, unitholders to be in the range of $6,377,000 to $5,382,000 and net loss per share available to common stockholders to be in the range of $0.32 to $0.27. Duyuru • Apr 16
Sotherly Hotels Inc. to Report Q1, 2024 Results on May 09, 2024 Sotherly Hotels Inc. announced that they will report Q1, 2024 results Pre-Market on May 09, 2024 Duyuru • Mar 28
Sotherly Hotels Inc., Annual General Meeting, Apr 30, 2024 Sotherly Hotels Inc., Annual General Meeting, Apr 30, 2024, at 09:00 US Eastern Standard Time. Location: Williamsburg Community Building 401 North Boundary Street Williamsburg Virginia United States Agenda: To elect seven directors to the board of directors of the Company; to ratify the appointment of FORVIS, LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2024; to hold an advisory and non-binding vote to approve executive compensation; and to transact such other business as may properly come before the Annual Meeting and any adjournments thereof. Duyuru • Mar 08
Sotherly Hotels LP Provides Earnings Guidance for the Year 2024 Sotherly Hotels LP provided earnings guidance for the year 2024. For the period, the company expects total revenue to be in the range of $182,567,000 to $178,952,000, net income to be in the range of $2,593,000 to $1,598,000 and net loss available to common stockholders, unitholders to be in the range of $5,382,000 to $6,377,000 and net loss per share available to common stockholders to be in the range of $0.27 to $0.32. Duyuru • Jan 16
Sotherly Hotels Inc. to Report Q4, 2023 Results on Mar 06, 2024 Sotherly Hotels Inc. announced that they will report Q4, 2023 results Pre-Market on Mar 06, 2024 Duyuru • Nov 11
Sotherly Hotels Inc. Provides Earnings Guidance for the Fourth Quarter of 2023 Sotherly Hotels Inc. provided earnings guidance for the fourth quarter of 2023. For the period, the company expects total revenue to be in the range of $40,494,000 to $41,970,000, net loss to be in the range of $1,708,000 to $1,309,000 and net loss available to common stockholders, unitholders to be in the range of $3,703,000 to $3,304,000 and net loss per share available to common stockholders to be in the range of $0.19 to $0.17. Duyuru • Oct 12
Sotherly Hotels Inc. to Report Q3, 2023 Results on Nov 09, 2023 Sotherly Hotels Inc. announced that they will report Q3, 2023 results Pre-Market on Nov 09, 2023 Duyuru • Aug 11
Sotherly Hotels Inc. Provides Earnings Guidance for the Third Quarter of 2023 Sotherly Hotels Inc. provided earnings guidance for the third quarter of 2023. For the quarter, the company expects total revenue of $39,100,000 - $41,044,000 and Net loss of $2,272,000 - $1,831,000. Net loss per share available to common stockholders of $0.22 to $0.20. Duyuru • Jul 13
Sotherly Hotels Inc. to Report Q2, 2023 Results on Aug 10, 2023 Sotherly Hotels Inc. announced that they will report Q2, 2023 results Pre-Market on Aug 10, 2023 Duyuru • May 12
Sotherly Hotels Inc. Provides Earnings Guidance for the Second Quarter of 2023 Sotherly Hotels Inc. provided earnings guidance for the second quarter of 2023. For the quarter, the company expects total revenue of $48,881,000 - $51,311,000 and Net income of $4,862,000 - $5,641,000. Duyuru • Jan 12
Sotherly Hotels Inc. to Report Q4, 2022 Results on Mar 02, 2023 Sotherly Hotels Inc. announced that they will report Q4, 2022 results at 9:30 AM, US Eastern Standard Time on Mar 02, 2023 Duyuru • Nov 11
Sotherly Hotels Inc. Provides Earnings Guidance for the Year 2022 Sotherly Hotels Inc. provided earnings guidance for the year 2022. For the year, the company expects Total revenue of $162,694,000 - $164,135,000, Net income of 28,467,000 - $28,864,000 and Net income available to common stockholders and unitholders of $20,826,000 - $21,224,000. Duyuru • Oct 13
Sotherly Hotels Inc. to Report Q3, 2022 Results on Nov 10, 2022 Sotherly Hotels Inc. announced that they will report Q3, 2022 results Pre-Market on Nov 10, 2022 Duyuru • Aug 12
Sotherly Hotels Inc. Provides Earnings Revenue Guidance for the Third Quarter 2022 Sotherly Hotels Inc. provided earnings revenue guidance for the third quarter 2022. For the quarter, the company expects Composite RevPAR to be approximately 6.5% ahead of the third quarter of 2019, much improved from the third quarter of 2021. Due to the uncertainties related to the lodging industry and the effects of the COVID-19 pandemic, the Company is foregoing full-year guidance for 2022. Duyuru • Jul 14
Sotherly Hotels Inc. to Report Q2, 2022 Results on Aug 11, 2022 Sotherly Hotels Inc. announced that they will report Q2, 2022 results Pre-Market on Aug 11, 2022 Duyuru • Jun 15
CS Acquisition Vehicle, LLC acquired DoubleTree by Hilton Raleigh-Brownstone University Hotel from Sotherly Hotels Inc. (NasdaqGM:SOHO). CS Acquisition Vehicle, LLC agreed to acquire DoubleTree by Hilton Raleigh-Brownstone University Hotel from Sotherly Hotels Inc. (NasdaqGM:SOHO) for $42 million on November 30, 2021. The Company intends to use any net cash proceeds from the sale of the Hotel to repay the existing mortgage on the property, repay a portion of the secured notes with Kemmons Wilson, to make any required distribution on the Company’s preferred stock related to maintaining the Company’s REIT status, and for general corporate purposes. The closing of the sale of the Hotel is subject to various customary closing conditions, including the satisfactory completion of a diligence review of the Hotel, the accuracy of representations and warranties through closing, and conditions related to the termination of Hotel agreements and leases.
On February 28, 2022, DoubleTree by Hilton Raleigh-Brownstone University Hotel and CS Acquisition Vehicle, LLC entered into a First Amendment to the Sale Agreement pursuant to which: (i) the due diligence period expired effective upon the execution of the First Amendment (ii) the CS Acquisition Vehicle, LLC's earnest money deposit in the amount of $800,000 in cash is required to be deposited with the escrow agent no later than March 2, 2022 (iii) the closing date is set for no later than May 2, 2022, subject to extension by the CS Acquisition Vehicle, LLC's for up to 30 days in exchange for an additional cash deposit of $800,000. On March 3, 2022, during earnings call stated, that they anticipate a closing date no longer than June 1st.
On May 23, 2022, the Seller and the Buyer entered into a Second Amendment to the Sale Agreement pursuant to which: (i) the closing date was extended to June 10, 2022; (ii) the earnest money currently held in escrow in the amount of $1.6 million is required to be released to the Seller; and (iii) the Buyer is required to make an additional earnest money deposit of $1.4 million with the escrow agent no later than May 25, 2022, which amount is then required to be released to the Seller within one business day.
CS Acquisition Vehicle, LLC acquired DoubleTree by Hilton Raleigh-Brownstone University Hotel from Sotherly Hotels Inc. (NasdaqGM:SOHO) on June 14, 2022. The Company used approximately $18.6 million of the net cash proceeds from the sale of the Hotel to repay the existing mortgage on the property and approximately $19.8 million of the net cash proceeds to repay a portion of the secured notes with KWHP SOHO, LLC and MIG SOHO, LLC (together, “KW”) as required by the terms of the secured notes. Duyuru • Apr 14
Sotherly Hotels Inc. to Report Q1, 2022 Results on May 12, 2022 Sotherly Hotels Inc. announced that they will report Q1, 2022 results Pre-Market on May 12, 2022 Duyuru • Apr 01
Sotherly Hotels Inc., Annual General Meeting, Apr 26, 2022 Sotherly Hotels Inc., Annual General Meeting, Apr 26, 2022, at 09:00 US Eastern Standard Time. Location: at the Company’s home office located at 306 S Henry Street Williamsburg Virginia United States Agenda: To consider and elect seven (7) directors to the board of directors of the Company; to consider and ratify the appointment of Dixon Hughes Goodman LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2022; to consider and hold an advisory and non-binding vote to approve executive compensation ( Say-on-Pay"); to consider and approve the Company's 2022 Long-Term Incentive Plan; and to consider the transact such other business as may properly come before the Annual Meeting and any adjournments thereof. Duyuru • Mar 05
Sotherly Hotels Inc. Provides Earnings Revenue Guidance for the First Quarter 2022 Sotherly Hotels Inc. provided earnings revenue guidance for the first quarter 2022. For the quarter, the company expects Composite RevPAR to be down approximately 20% compared to the first quarter 2019, much improved from the first and second quarters of 2021. Due to the uncertainties related to the COVID-19 pandemic and its impact on travel, the company is unable to provide additional guidance for 2022. Duyuru • Aug 13
Sotherly Hotels Inc. Provides Revenue Guidance for the Third Quarter 2021 Sotherly Hotels Inc. provides revenue guidance for the third quarter 2021. For the third quarter of 2021, the Company expects Composite RevPAR to be down between 5-10% compared to the third quarter 2019, much improved from the first and second quarters of 2021. Duyuru • May 13
Sotherly Hotels Inc. not to Provide Guidance for 2021 Due to the uncertainties related to the COVID-19 pandemic and its impact on travel, Sotherly Hotels Inc. is unable to provide guidance for 2021. Duyuru • Nov 10
Sotherly Hotels Inc. Unable to Provide Earnings Guidance for the Year 2020 Sotherly Hotels Inc. announced that on March 9, 2020, the Company withdrew its previously announced guidance for 2020. Due to the uncertainties related to the COVID-19 pandemic and its impact on travel, the Company is unable to provide guidance for 2020. Duyuru • Oct 15
Sotherly Hotels Inc. to Report Q3, 2020 Results on Nov 09, 2020 Sotherly Hotels Inc. announced that they will report Q3, 2020 results at 9:00 AM, Eastern Standard Time on Nov 09, 2020 Duyuru • Jul 17
Sotherly Hotels Inc. to Report Q2, 2020 Results on Aug 10, 2020 Sotherly Hotels Inc. announced that they will report Q2, 2020 results at 9:00 AM, Eastern Standard Time on Aug 10, 2020 Duyuru • Jul 04
Sotherly Hotels Inc.(NasdaqGM:SOHO) dropped from Russell Microcap Growth Index Sotherly Hotels Inc.(NasdaqGM:SOHO) dropped from Russell Microcap Growth Index