Sotherly Hotels Expects 2024 Revenue Of $178.952M-$182.567M; Sees Adjusted FFO Of $0.64-$0.69 And Hotel EBITDA Margin Of 25.8%-25.7%
$SOHO
Real Estate Investment Trusts
Real Estate
2024 Outlook
Set forth below is the Company's guidance for 2024. The table below reflects the Company’s projections, within a range, of various financial measures for 2024, in thousands of dollars, except per share and RevPAR data:
| 2024 Guidance | |||||||
| Low Range | High Range | ||||||
| Total revenue | $ | 178,952 | $ | 182,567 | |||
| Net income | 1,598 | 2,593 | |||||
| Net loss available to common stockholders and unitholders | (6,377 | ) | (5,382 | ) | |||
| EBITDA | 39,858 | 40,853 | |||||
| Hotel EBITDA | 46,103 | 46,898 | |||||
| FFO available to common stockholders and unitholders | 12,373 | 13,368 | |||||
| Adjusted FFO available to common stockholders and unitholders | 12,778 | 13,773 | |||||
| Net loss per share available to common stockholders | $ | (0.32 | ) | $ | (0.27 | ) | |
| FFO per common share and unit | $ | 0.62 | $ | 0.67 | |||
| Adjusted FFO per common share and unit | $ | 0.64 | $ | 0.69 | |||
| Rev PAR | $ | 117.16 | $ | 119.52 | |||
| Hotel EBITDA margin | 25.8 | % | 25.7 | % | |||