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Strategies & Market Trends : Dividend investing for retirement -- Ignore unavailable to you. Want to Upgrade?

To: E_K_S who wrote (24698)	5/10/2016 9:25:47 AM
From: E_K_S	Read Replies (1) \| Respond to of 34328

Sotherly Hotels Inc. Reports Financial Results for the First Quarter Ended March 31, 2016 RevPAR. Room revenue per available room (“RevPAR”) for the Company’s wholly-owned properties during the first quarter 2016 increased 13.5% over the first quarter 2015 to $99.72 driven by a 0.4% increase in occupancy and a 13.0% increase in average daily rate (“ADR”). “The Company experienced excellent top line growth in the first quarter, driven by a strong overall increase in ADR. Hotel EBITDA and adjusted FFO benefited from the revenue growth. On April 29, 2016, we entered into a purchase and sale agreement to sell the Crowne Plaza Hampton Marina hotel to Three Capital Hotels, Inc. for a price of $5.8 million. The closing of the sale 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 operation and maintenance of the hotel. ---------------------------------------------------------- Nice increase in RevPar, They closed a 1031 exchange flip and have several renovations in different stages of completion. Their occupancy and RevPar still low so an easy bar to hurdle. I expect a similar increase in their next quarterly report especially as their room renovations are completed and made available for rental. EKS