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Consolidated Statements of Operations - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
REVENUE        
Total revenue $ 50,694,367 $ 49,017,333 $ 97,242,798 $ 92,508,610
Hotel operating expenses        
Total hotel operating expenses 34,996,688 34,175,297 69,184,764 65,587,377
Depreciation and amortization 4,817,523 4,763,193 9,587,240 9,341,504
Corporate general and administrative 1,580,373 1,789,041 3,496,898 3,769,805
Total operating expenses 41,394,584 40,727,531 82,268,902 78,698,686
NET OPERATING INCOME 9,299,783 8,289,802 14,973,896 13,809,924
Other income (expense)        
Interest expense (5,000,995) (4,288,367) (9,889,801) (8,401,964)
Interest income 208,102 222,772 422,873 369,437
Other income 142,353   267,230  
Loss on early extinguishment of debt     (241,878)  
Realized gain on hedging activities     1,041,994  
Unrealized gain (loss) on hedging activities (84,872) 286,831 (791,421) (155,632)
PPP loan forgiveness       275,494
Gain on sale of assets 4,400   4,400  
Gain on involuntary conversion of assets 112,645 763,169 235,037 779,645
Net income before income taxes 4,681,416 5,274,207 6,022,330 6,676,904
Income tax provision (17,184) (16,537) (35,277) (31,719)
Net income 4,664,232 5,257,670 5,987,053 6,645,185
Less: Net income attributable to noncontrolling interest (48,151) (130,798) (36,033) (105,838)
Net income attributable to the Company 4,616,081 5,126,872 5,951,020 6,539,347
Undeclared distributions to preferred stockholders (1,994,313) (1,994,313) (3,988,625) (3,988,625)
Net income attributable to common stockholders $ 2,621,768 $ 3,132,559 $ 1,962,395 $ 2,550,722
Net income per share attributable to common stockholders:/general and limited partner unit:        
Basic $ 0.13 $ 0.16 $ 0.1 $ 0.13
Diluted $ 0.13 $ 0.16 $ 0.1 $ 0.13
Weighted average number of common shares/general and limited partner units outstanding        
Basic 19,431,455 18,712,452 19,395,528 18,658,538
Diluted 19,431,455 18,715,098 19,395,528 18,658,538
Sotherly Hotels LP [Member]        
REVENUE        
Total revenue $ 50,694,367 $ 49,017,333 $ 97,242,798 $ 92,508,610
Hotel operating expenses        
Total hotel operating expenses 34,996,688 34,175,297 69,184,764 65,587,377
Depreciation and amortization 4,817,523 4,763,193 9,587,240 9,341,504
Corporate general and administrative 1,580,373 1,789,041 3,496,898 3,769,805
Total operating expenses 41,394,584 40,727,531 82,268,902 78,698,686
NET OPERATING INCOME 9,299,783 8,289,802 14,973,896 13,809,924
Other income (expense)        
Interest expense (5,000,995) (4,288,367) (9,889,801) (8,401,964)
Interest income 208,102 222,772 422,873 369,437
Other income 142,353   267,230  
Loss on early extinguishment of debt     (241,878)  
Realized gain on hedging activities     1,041,994  
Unrealized gain (loss) on hedging activities (84,872) 286,831 (791,421) (155,632)
PPP loan forgiveness       275,494
Gain on sale of assets 4,400   4,400  
Gain on involuntary conversion of assets 112,645 763,169 235,037 779,645
Net income before income taxes 4,681,416 5,274,207 6,022,330 6,676,904
Income tax provision (17,184) (16,537) (35,277) (31,719)
Net income 4,664,232 5,257,670 5,987,053 6,645,185
Undeclared distributions to preferred unit holders (1,994,313) (1,994,313) (3,988,625) (3,988,625)
Undeclared distributions to preferred stockholders (1,994,313) (1,994,313) (3,988,625) (3,988,625)
Net income attributable to general and limited partnership unit holders $ 2,669,919 $ 3,263,357 $ 1,998,428 $ 2,656,560
Net income per share attributable to common stockholders:/general and limited partner unit:        
Basic $ 0.13 $ 0.16 $ 0.1 $ 0.13
Diluted $ 0.13 $ 0.16 $ 0.1 $ 0.13
Weighted average number of common shares/general and limited partner units outstanding        
Basic 20,004,351 19,810,991 19,990,120 19,806,173
Diluted 20,004,351 19,813,637 19,990,120 19,806,173
Rooms Department [Member]        
REVENUE        
Total revenue $ 34,575,890 $ 33,253,523 $ 64,315,546 $ 61,655,211
Hotel operating expenses        
Total hotel operating expenses 7,452,407 7,016,339 14,004,590 13,429,434
Rooms Department [Member] | Sotherly Hotels LP [Member]        
REVENUE        
Total revenue 34,575,890 33,253,523 64,315,546 61,655,211
Hotel operating expenses        
Total hotel operating expenses 7,452,407 7,016,339 14,004,590 13,429,434
Food and Beverage Department [Member]        
REVENUE        
Total revenue 9,901,554 9,500,974 19,654,003 18,249,700
Hotel operating expenses        
Total hotel operating expenses 6,541,720 6,390,867 13,006,575 12,326,427
Food and Beverage Department [Member] | Sotherly Hotels LP [Member]        
REVENUE        
Total revenue 9,901,554 9,500,974 19,654,003 18,249,700
Hotel operating expenses        
Total hotel operating expenses 6,541,720 6,390,867 13,006,575 12,326,427
Other Operating Departments [Member]        
REVENUE        
Total revenue 6,216,923 6,262,836 13,273,249 12,603,699
Hotel operating expenses        
Total hotel operating expenses 2,505,721 2,305,755 5,191,863 4,621,603
Other Operating Departments [Member] | Sotherly Hotels LP [Member]        
REVENUE        
Total revenue 6,216,923 6,262,836 13,273,249 12,603,699
Hotel operating expenses        
Total hotel operating expenses 2,505,721 2,305,755 5,191,863 4,621,603
Indirect [Member]        
Hotel operating expenses        
Total hotel operating expenses 18,496,840 18,462,336 36,981,736 35,209,913
Indirect [Member] | Sotherly Hotels LP [Member]        
Hotel operating expenses        
Total hotel operating expenses $ 18,496,840 $ 18,462,336 $ 36,981,736 $ 35,209,913