Deal is supposed to close on 10 June, so I would expect to see news on that. With such a big transaction value, I would expect to see a pop in the stock. Also, I just saw STR reports that hotel occupancy for the last 2 months (US average) is now, for the first time, greater than comparable months in '19. So I would assume this is flowing nicely to SOHO.
I want DIVIDENDS, DIVIDENDS, DIVIDENDS, DIVIDENDS, DIVIDENDS restoration for Commoners is the only thing that will move this stock.
r
Herchel WALKER wins Republican Nominee for US Senate. Herchel is on SOHOs Board of Directors..Herchel is married to one of my College friends old girlfriends....https://www.youtube.com/watch?v=99i4DqfObCs
Herschel Walker wins Republican nomination for US Senate
www.youtube.com
R
I am optimistic about the hotel shares in near future. Maybe at Q3 there will be real evidence it's blooming. Generally many of us europeans find this situation in Ukraine scary. I believe many, for real, feel safer spending holiday in USA
J
Wondering at this price if it is just better for them to sell everything and liquidate the company.
R
Look at that volume! People scared and I buy more cheap
r
Just called our ALBA Hotel Tampa. Rates are $250 a night, Georgian Terrace Hotel $250 a night. The Whitehall Houston $290 a night. The DeSoto $240 a night, Hotel Ballast $250 a night...Were making money
r
Herschel J. Walker is on the Board of Sotherly Hotel
J
Compare them to Marriott, who is up substantially ABOVE pre-COVID levels while SOHO never recovered and is almost at a COVID low. Something is afoul. Bad management? Heavy overhead and salaries? Poor marketing? Or is it the street just not seeing the potential here.
W
Just read the terms of the new loan. It prevents distributions for Preferreds and common until it is paid off. Very disapointed. Confirmed with Investor realations. Looks like we will be waiting a while for any dividends from this company. Very overwight in SOHO, really hoping the vaccines are effective on the variants, or I'm in trouble.
J
From SEC.gov filing yesterday. Would be great to know the specifics...
On November 30, 2021, Raleigh Hotel Associates, LLC (the “Seller”), a Delaware limited liability company and an affiliate of Sotherly Hotels Inc. (“Sotherly” or the “Company”), a Maryland corporation and the sole general partner of Sotherly Hotels LP, a Delaware limited partnership (the “Operating Partnership”), entered into a real estate sale agreement (the “Agreement”) to sell the DoubleTree by Hilton Raleigh-Brownstone University hotel located in Raleigh, North Carolina (the “Hotel”) to CS Acquisition Vehicle, LLC, a Delaware limited liability company (the “Buyer”) for a purchase price of $42.0 million. 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.
r
The Share offering to pay down DEBT(repaying that $20 million dollar loan) is smart at this time it being the NFL/College/Baseball season has JUST started and our HOTELS will be FULL every weekend for the next 3 months. Some of our hotels are located as close as 9 mins from Major Stadiums. Go SOHO
J
For those of you that listened to the conf call, if any... One of the last questions asked about accumulated and not-yet paid dividends. I think I heard that $14M of preferred shareholder dividends have gone unpaid. Does that mean they have to catch up on that $14M before dividends can be re-introduced to common shareholders?
J
And they have sold yet another of their hotels... See sec.gov for the K-1 on 12/13. This time they look to clear around $11M'ish. I just can't understand why they don't announce these to the street. I know they are not closed yet and there is a due diligence period and such, but these activities are very significant news to a stock that has performed horrifically in '21.
b
I listen to the earnings call I like it a lot. You need to understand the type of company that to understand that once things get back to normal they'll bounce back. Happy here that they have enough liquidity to last till the end of the year at the very earliest and probably a lot longer without any more help
J
Recommend listening to the replay of the earnings call. Bottom line - they are in the midst of a full recovery; bookings way up, esp. pre-bookings for H2; some locations performing better than others, esp. those that have less govt restrictions; they have some other debt to work through before resuming common dividends
J
Should be an interesting earnings call on 3/3. Hopefully they will disclose the multiple asset sales to us and provide visibility as to what the money will be used for. I assume it will go to pay back some of the onerous debt they incurred during the pandemic. Should also be used to back-pay preferred dividends. This will open up the possibility of re-instating dividends to the common holders. Also interested to learn on current occupancy and rates. Airports are packed, people are travelling again, we should get visibility. And some forecasts. This company has just lacked transparency. Needs to change.
5
Searched all weekend, trying to find the news on why is was up so much. Finally came across a stock chat where someone posted a merger proposition. Said it was insider information and nothing else about the merger in the news... anyone else hearing this?
On November 30, 2021, Raleigh Hotel Associates, LLC (the “Seller”), a Delaware limited liability company and an affiliate of Sotherly Hotels Inc. (“Sotherly” or the “Company”), a Maryland corporation and the sole general partner of Sotherly Hotels LP, a Delaware limited partnership (the “Operating Partnership”), entered into a real estate sale agreement (the “Agreement”) to sell the DoubleTree by Hilton Raleigh-Brownstone University hotel located in Raleigh, North Carolina (the “Hotel”) to CS Acquisition Vehicle, LLC, a Delaware limited liability company (the “Buyer”) for a purchase price of $42.0 million. 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.