Sotherly Hotels reports Q4 occupancy 58%

Reports ADR $176.93 and RevPAR $101.52. "We’re pleased with these preliminary results for the fourth quarter which reflect the Company’s continued recovery, despite the impact caused by Hurricane Nicole and the softening of demand in the South Florida market during the month of November," commented Dave Folsom, the Company’s President and Chief Executive Officer. "Lodging fundamentals during the quarter were fueled by an improved returned-to-office rate and as well as expanded group business travel. Meantime, room rates continued to outperform the prior period across all segments of business. These trends were especially notable in October, as RevPAR outpaced the same period in 2019 by 2.6%."