Sotherly Hotels (SOHO) 2016年年度报告「NASDAQ」.pdf

1、2016 Annual ReportOur Town.Your Home.Sotherly Hotels completed the rebranding of the Crowne Plaza Houston Downtown hotel to The Whitehall by Sotherly,returning the iconic hotel to its historic name following an extensive$5 million renovation.The Whitehall by Sotherly of today marries modern amenitie

2、s with postmodern and classic 1960s revival architecture style in its beautifully renovated accommodations and public spaces.Hyde Resort&ResidencesSotherly Hotels laid the ground work to acquire the hotel commercial unit of the Hyde Resort&Residences located in Hollywood,Florida.The hotel commercial

3、 unit consists of the designated lobby and front desk areas,offices,and other spaces.In addition,the Company entered into a lease for the 400-space parking garage and meeting rooms of the Resort,as well as an agreement to operate and manage the condominium association.The Hyde Resort&Residences is a

4、 400-unit condominium-hotel consisting of 363 use-restricted units and 37 residences that feature one,two and three bedroom layouts,gourmet kitchens,floor-to-ceiling glass doors with private terraces and Atlantic Ocean views.To Our Stockholders:At the beginning of 2016,we believed our industry was d

5、ecelerating from five years of above-average top line growth.The election season,coupled with anemic GDP growth challenged corporate earnings,focused management on cost containment and restructuring our loan portfolio to lock in low interest rates.I believe we were successful in these endeavors.In 2

6、016,the company generated Hotel EBITDA1 of approximately$40.0M,a 9.8%increase over the prior year,and Adjusted Funds From Operations(“AFFO”)increased approximately 1.3%over the prior year.While these results compare favorably with the industry averages,we did not plan on several events that negative