Sotherly Hotels (SOHO) 2018年年度报告「NASDAQ」.pdf

1、2018 ANNUAL REPORTIn 2018,Sotherly Hotels completed the$10.0 million renovation and rebranding of Hotel Ballast,formerly the Hilton Wilmington Riverside.Located directly on the Cape Fear River in the heart of downtown Wilmington,NC,Hotel Ballast is the latest addition to Sotherly Hotels collection o

2、f boutique hotels.TO OUR STOCKHOLDERSA letter from Sotherly Hotels Chairman&CEO Andrew M.Sims To Our Stockholders:As we entered 2018,the lodging industry had experienced thirty months of sluggish growth and forecasts were predicting more to come.The economy was improving,consumer confidence was buil

3、ding,and the lodging industry was hoping for improved top-line performance.However,the domestic lodging industry continued its pattern of slow growth during 2018 with Revenue Per Available Room(“RevPAR”)for the year increasing an anemic 2.8%over 2017.Once again,the Southland experienced two major hu

4、rricanes(Florence and Michael)that disrupted travel patterns during the busy Fall travel season.Notwithstanding the challenging industry trends and the impact of those two hurricanes,we executed our plans by expanding our portfolio,improving operating metrics,and increasing our dividends.The SOHO po

5、rtfolio significantly outperformed the industry,with a composite RevPAR increase of 7.4%for 2018,driven by the acquisition of the Hyatt Centric Arlington and the ramp up of operations at the Hyde Resort&Residences.To put our 2018 RevPAR performance in context,our results were achieved despite the ne

6、gative events mentioned above as well as extensive renovation activity at two of our hotels.Our hotels in Tampa and Wilmington had room inventory out of service during the year.Total 2018 Hotel Revenue for our portfolio increased$23.9M(15.5%over the prior year),with the acquisition of the Hyatt Cent