Sotherly Hotels (SOHO) 2023年年度报告「NASDAQ」.pdf

1、20232023ANNUAL REPORTANNUAL REPORTT TO OO OUR STOCKHOLDERSUR STOCKHOLDERSA letter from Sotherly Hotels President&CEO David R.Folsom A letter from Sotherly Hotels President&CEO David R.Folsom To Our Stockholders:Fi scal year 2023 was an i mportant transi ti onal year for Sotherly Hotels.At the outset

2、 of 2023,we completed repayment of all COVID-related mortgage forbearance obli gati ons that the Company had i ncurred over a peri od of nearly three years.At the same ti me,we rei nstated payment of di vi dends on all three seri es of the Companys preferred stock.In the year,we also repai d a porti

3、 on of the outstandi ng balance of accrued and unpai d cumulati ve di vi dends owed on our preferred stock.These posi ti ve developments were i mportant mi lestones and achi evements for the Company i n 2023,as we looked to conti nue to i mprove our capi tal structure.The lodgi ng i ndustry conti nu

4、ed to show good growth i n 2023,accordi ng to analysts reports,as nati onal Revenue Per Avai lable Room(RevPAR)grew nearly 5%over 2022.Our markets,whi ch focus mai nly on major locati ons i n the Southeast and Mi d-Atlanti c,outpaced the broader nati onal averages.Accordi ng to STR,Sotherly markets

5、grew RevPAR 11.5%over 2022,more than doubli ng the nati onal average.Average Dai ly Rate(ADR)conti nued to be the major component of RevPAR growth both nati onally and i n our respecti ve markets.Nearly all of Sotherlys markets wi tnessed posi ti ve RevPAR growth i n 2023.In some of our markets,RevP

6、AR growth was substanti al.In Arli ngton Vi rgi na,whi ch i s part to the metropoli tan Washi ngton D.C.market,the market grew RevPAR 23.4%and the Houston market was up 21.8%i n RevPAR.Whi le our overall portfoli o recovered fai rly qui ckly comi ng out of the pandemi c,we sti ll have a lot of upsi