Sotherly Hotels reports 2.9% RevPAR increase Q4 2024

Sotherly Hotels Inc. reported a 2.9% increase in revenue per available room (RevPAR) for Q4 2024, compared to the previous year. This growth was supported by a 7% rise in occupancy rates, despite a 3.7% drop in average daily rates (ADR). The company noted that results were affected by the exclusion of Tampa's performance. Further details on financial measures were provided in the earnings release available on their website. The call included insights from key executives, including the CFO and CEO, discussing the company's operational metrics and financial performance.