Sotherly Hotels sees Q1 Occupancy 60.5%, RevPar up 21.4%

Sotherly Hotels reports January occupancy at 48.7% and February occupancy at 63.7%; Sees Q1 Occupancy at 60.5%. Reports January RevPAR up 40.0% from last year at $84.48 and February RevPAR up 33.9% at 120.09; Sees Q1 RevPAR up 21.4% at $113.28. "We’re pleased with these preliminary results for the first quarter which reflect the Company’s continued recovery and strong year-over-year gains," commented Dave Folsom, CEO. "Lodging fundamentals during the quarter were fueled by the sustained strength in demand for leisure travel combined with improved demand for group and business travel, particularly in our urban locations."