Procaccianti Hotel REIT Inc (PRXA) is a non-traded real estate investment trust that acquires and owns hotel properties. Revenue is generated through hotel operations, with income tied to room occupancy, average daily rate (ADR), and revenue per available room (RevPAR) across its portfolio. The company is externally advised by Procaccianti Hotel Advisors (PHA), which manages investment strategy and day-to-day operations under an Advisory Agreement. As of December 31, 2025, the company's investments in hotels totaled $92.5 million in property and equipment, net. PRXA is structured as a REIT, distributing income to holders of A Shares, K Shares, and K-I Shares. The hotel industry's cyclical demand, historically correlated with U.S. GDP growth, directly affects operating performance. PRXA operates as a non-listed vehicle, with a charter provision requiring a liquidity event process by the seventh anniversary of the termination of its public offering if one has not already begun.

Revenue model

Hotel property operations, with revenue driven by room occupancy, ADR, and RevPAR. REIT structure requires income distribution to shareholders. Property management is delegated to third-party hotel managers.

Products and services

Ownership of hotel properties managed by external property managers. Share classes include A Shares, K Shares, and K-I Shares. Long-term incentive plan authorizes up to 5,000,000 K Shares and 1,500,000 A Shares for equity compensation (as of December 31, 2025).

Customers and end markets

Hotel guests generating lodging demand. End market demand is correlated with U.S. GDP growth and general economic conditions. Seasonal fluctuations affect quarterly occupancy and cash flows.

Value-chain role

REIT property owner and capital allocator. External advisor PHA sources and evaluates investments. Third-party hotel property managers handle on-site operations.

Geographic exposure

U.S. hotel markets. Specific property locations not detailed in the filing excerpts provided.

Source: SEC 10-K, filed 2026-03-23

Industry: Real Estate Investment Trusts