$SOHO
Sotherly Hotels Inc.

2024 Q4 Form 10-Q Financial Statement

#000095017024121332 Filed on November 05, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q1 2023 Q1
Revenue $46.55M $43.49M
YoY Change 7.03% 13.4%
Cost Of Revenue $15.70M $31.41M
YoY Change -50.01% 155.08%
Gross Profit $30.85M $12.08M
YoY Change 155.36% -53.61%
Gross Profit Margin 66.26% 27.77%
Selling, General & Admin $20.40M $18.73M
YoY Change 8.93% 6.55%
% of Gross Profit 66.14% 155.05%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.770M $4.578M
YoY Change 4.18% 0.29%
% of Gross Profit 15.46% 37.9%
Operating Expenses $25.17M $23.31M
YoY Change 8.0% 5.26%
Operating Profit $5.674M $5.520M
YoY Change 2.79% 41.7%
Interest Expense -$4.339M $4.114M
YoY Change -205.47% -187.03%
% of Operating Profit -76.46% 74.52%
Other Income/Expense, Net $124.9K
YoY Change
Pretax Income $1.341M $1.403M
YoY Change -4.4% -275.05%
Income Tax $18.09K $15.18K
% Of Pretax Income 1.35% 1.08%
Net Earnings -$659.4K $1.412M
YoY Change -146.68% -274.18%
Net Earnings / Revenue -1.42% 3.25%
Basic Earnings Per Share -$0.03 -$0.03
Diluted Earnings Per Share -$0.03 -$0.03
COMMON SHARES
Basic Shares Outstanding 19.85M 19.85M 19.24M
Diluted Shares Outstanding 19.36M 18.64M

Balance Sheet

Concept 2024 Q4 2024 Q1 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $29.29M $23.43M
YoY Change 24.99% 16.08%
Cash & Equivalents $29.29M $23.43M
Short-Term Investments
Other Short-Term Assets $5.637M $8.016M
YoY Change -29.67% 12.43%
Inventory
Prepaid Expenses
Receivables $6.968M $4.317M
Other Receivables $0.00 $0.00
Total Short-Term Assets $41.89M $35.76M
YoY Change 17.14% 14.35%
LONG-TERM ASSETS
Property, Plant & Equipment $352.5M $362.9M
YoY Change -2.88% -5.6%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $10.34M $8.557M
YoY Change 20.86% -15.59%
Total Long-Term Assets $362.8M $371.5M
YoY Change -2.33% -5.86%
TOTAL ASSETS
Total Short-Term Assets $41.89M $35.76M
Total Long-Term Assets $362.8M $371.5M
Total Assets $404.7M $407.2M
YoY Change -0.62% -4.37%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $25.78M $27.74M
YoY Change -7.05% -27.17%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $30.75M $33.36M
YoY Change -7.82% -24.26%
LONG-TERM LIABILITIES
Long-Term Debt $326.5M $320.7M
YoY Change 1.8% -12.3%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $326.5M $320.7M
YoY Change 1.8% -12.3%
TOTAL LIABILITIES
Total Short-Term Liabilities $30.75M $33.36M
Total Long-Term Liabilities $326.5M $320.7M
Total Liabilities $355.9M $354.0M
YoY Change 0.51% -12.54%
SHAREHOLDERS EQUITY
Retained Earnings -$125.7M -$119.6M
YoY Change 5.11%
Common Stock $176.2M $176.0M
YoY Change 0.1%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $48.83M $53.93M
YoY Change
Total Liabilities & Shareholders Equity $404.7M $407.2M
YoY Change -0.62% -4.37%

Cashflow Statement

Concept 2024 Q4 2024 Q1 2023 Q1
OPERATING ACTIVITIES
Net Income -$659.4K $1.412M
YoY Change -146.68% -274.18%
Depreciation, Depletion And Amortization $4.770M $4.578M
YoY Change 4.18% 0.29%
Cash From Operating Activities $8.075M $9.968M
YoY Change -18.99% 33.73%
INVESTING ACTIVITIES
Capital Expenditures $2.398M $1.534M
YoY Change 56.35% -236.49%
Acquisitions
YoY Change
Other Investing Activities $122.4K $425.1K
YoY Change -71.21% -96.17%
Cash From Investing Activities -$2.276M -$1.109M
YoY Change 105.26% -111.11%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 7.592M -4.215M
YoY Change -280.12% -66.78%
NET CHANGE
Cash From Operating Activities 8.075M 9.968M
Cash From Investing Activities -2.276M -1.109M
Cash From Financing Activities 7.592M -4.215M
Net Change In Cash 13.39M 4.645M
YoY Change 188.3% -2.08%
FREE CASH FLOW
Cash From Operating Activities $8.075M $9.968M
Capital Expenditures $2.398M $1.534M
Free Cash Flow $5.677M $8.434M
YoY Change -32.7% -1.67%

Facts In Submission

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27341630
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
39626809
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
31986236
CY2024Q1 us-gaap Interest Paid Net
InterestPaidNet
4252586
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
4042426
CY2024Q1 soho Increase Decrease In Capital Expenditures Incurred But Not Yet Paid
IncreaseDecreaseInCapitalExpendituresIncurredButNotYetPaid
210223
CY2023Q1 soho Increase Decrease In Capital Expenditures Incurred But Not Yet Paid
IncreaseDecreaseInCapitalExpendituresIncurredButNotYetPaid
858120
CY2024Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
103125
CY2024Q1 dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2004-08-20
CY2024Q1 soho Number Of Rooms In Hotel
NumberOfRoomsInHotel
2786
CY2024Q1 soho Number Of Independent Hotels
NumberOfIndependentHotels
3
CY2024Q1 soho Date Of Commencement Of Business
DateOfCommencementOfBusiness
2004-12-21
CY2024Q1 us-gaap Number Of Businesses Acquired
NumberOfBusinessesAcquired
6
CY2024Q1 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0
CY2023Q1 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
29285600
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
23429595
CY2024Q1 us-gaap Restricted Cash
RestrictedCash
10341209
CY2023Q1 us-gaap Restricted Cash
RestrictedCash
8556641
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
39626809
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
31986236
CY2024Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="text-indent:4.533%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Concentration of Credit Risk</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> – We hold cash accounts at several institutions in excess of the Federal Deposit Insurance Corporation (the “FDIC”) and National Credit Union Administration (the “NCUA”) protection limits of $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">250,000</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">. Our exposure to credit loss in the event of the failure of these institutions is represented by the difference between the FDIC or NCUA protection limit and the total amounts on deposit. Management monitors, on a regular basis, the financial condition of the financial institutions along with the balances there on deposit to minimize our potential risk.</span></p>
CY2024Q1 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000
CY2024Q1 soho Un Amortized Franchise Fees
UnAmortizedFranchiseFees
184930
CY2023Q4 soho Un Amortized Franchise Fees
UnAmortizedFranchiseFees
195988
CY2024Q1 soho Amortization Expense Franchise License Fees
AmortizationExpenseFranchiseLicenseFees
11059
CY2023Q1 soho Amortization Expense Franchise License Fees
AmortizationExpenseFranchiseLicenseFees
11874
CY2024Q1 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
711833
CY2024Q1 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
929888
CY2024Q1 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
863128
CY2024Q1 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
851527
CY2024Q1 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
861311
CY2024Q1 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
9744903
CY2024Q1 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
13962590
CY2024Q1 soho Minimum Percentage Of Likelihood Of Realization Of Deferred Tax Assets
MinimumPercentageOfLikelihoodOfRealizationOfDeferredTaxAssets
0.50
CY2024Q1 soho Deferred Tax Assets Valuation Allowance Percent
DeferredTaxAssetsValuationAllowancePercent
1
CY2024Q1 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0
CY2023Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0
CY2024Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2023Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2024Q1 us-gaap Advertising Expense
AdvertisingExpense
676032
CY2023Q1 us-gaap Advertising Expense
AdvertisingExpense
705703
CY2024Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2024Q1 us-gaap Use Of Estimates
UseOfEstimates
<span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> – The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</span>
CY2024Q1 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
538260993
CY2023Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
536183227
CY2024Q1 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
185805104
CY2023Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
181264121
CY2024Q1 soho Real Estate Investment Property Excluding Held For Sale Net
RealEstateInvestmentPropertyExcludingHeldForSaleNet
352455889
CY2023Q4 soho Real Estate Investment Property Excluding Held For Sale Net
RealEstateInvestmentPropertyExcludingHeldForSaleNet
354919106
CY2024Q1 us-gaap Mortgage Loans On Real Estate
MortgageLoansOnRealEstate
325100000
CY2023Q4 us-gaap Mortgage Loans On Real Estate
MortgageLoansOnRealEstate
316000000
CY2024Q1 us-gaap Secured Debt
SecuredDebt
326687747
CY2023Q4 us-gaap Secured Debt
SecuredDebt
317354289
CY2024Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
1617467
CY2023Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
1407979
CY2024Q1 us-gaap Debt Instrument Unamortized Premium
DebtInstrumentUnamortizedPremium
36714
CY2023Q4 us-gaap Debt Instrument Unamortized Premium
DebtInstrumentUnamortizedPremium
42884
CY2024Q1 us-gaap Long Term Debt
LongTermDebt
325106994
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
315989194
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
74899757
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
92446009
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
58588970
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
1757220
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
63995791
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
35000000
CY2024Q1 us-gaap Secured Debt
SecuredDebt
326687747
CY2024Q1 soho Operating And Financing Agreement Maturity Date Range Start
OperatingAndFinancingAgreementMaturityDateRangeStart
2024-07
CY2024Q1 soho Operating And Financing Agreement Maturity Date Range End
OperatingAndFinancingAgreementMaturityDateRangeEnd
2029-12
CY2024Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P14Y1M20D
CY2024Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0817
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
5092325
CY2024Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
162054
CY2024Q1 us-gaap Variable Lease Cost
VariableLeaseCost
125245
CY2024Q1 us-gaap Lease Cost
LeaseCost
287299
CY2024Q1 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
466082
CY2024Q1 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
618921
CY2024Q1 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
592149
CY2024Q1 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
579925
CY2024Q1 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
561936
CY2024Q1 soho Finance Lease Liability Payments Due After Year Four
FinanceLeaseLiabilityPaymentsDueAfterYearFour
10800558
CY2024Q1 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
13619571
CY2024Q1 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
8527246
CY2024Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
5092325
CY2024Q1 soho Number Of Hotels Operate Under Franchise Licenses
NumberOfHotelsOperateUnderFranchiseLicenses
7
CY2016Q4 soho Employee Stock Ownership Plan Esop Maximum Borrowing Amount To Purchase Common Stock
EmployeeStockOwnershipPlanESOPMaximumBorrowingAmountToPurchaseCommonStock
5000000
CY2024Q1 soho Balance On The Esop Loan Commitment
BalanceOnTheEsopLoanCommitment
1700000
CY2024Q1 soho Leaving Capacity For Additional Borrowing On The Esop Loan Commitment
LeavingCapacityForAdditionalBorrowingOnTheEsopLoanCommitment
3300000
CY2024Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
11000000
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
11000000
CY2024Q1 us-gaap Preferred Stock Liquidation Preference
PreferredStockLiquidationPreference
25.00
CY2023Q4 us-gaap Preferred Stock Liquidation Preference
PreferredStockLiquidationPreference
25.00
CY2024Q1 soho Preferred Stock Amount Of Undeclared And Cumulative Preferred Dividends
PreferredStockAmountOfUndeclaredAndCumulativePreferredDividends
21900000
CY2024Q1 soho Preferred Units Amount Of Undeclared And Cumulative Preferred Dividends
PreferredUnitsAmountOfUndeclaredAndCumulativePreferredDividends
21900000
CY2024Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
69000000
CY2024Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2024Q1 us-gaap Common Stock Voting Rights
CommonStockVotingRights
Each outstanding share of common stock entitles the holder to one vote on all matters submitted to a vote of stockholders.
CY2023Q1 soho Operating Partnership Units Issued During Period
OperatingPartnershipUnitsIssuedDuringPeriod
15000
CY2023Q1 soho Operating Partnership Units Issued During Period
OperatingPartnershipUnitsIssuedDuringPeriod
205000
CY2023Q2 us-gaap Partners Capital Account Units Converted
PartnersCapitalAccountUnitsConverted
75000
CY2023Q3 us-gaap Partners Capital Account Units Converted
PartnersCapitalAccountUnitsConverted
252903
CY2023Q3 us-gaap Partners Capital Account Units Converted
PartnersCapitalAccountUnitsConverted
133099
CY2024Q1 soho Operating Partnership Units Issued During Period
OperatingPartnershipUnitsIssuedDuringPeriod
152360
CY2024Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
19849165
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
19696805
CY2024Q1 soho Common Stock Exchange Ratio
CommonStockExchangeRatio
1
us-gaap Partners Capital Account Units Redeemed
PartnersCapitalAccountUnitsRedeemed
0
CY2024Q1 soho Operating Partnership Common Units Outstanding
OperatingPartnershipCommonUnitsOutstanding
20213351
CY2023Q4 soho Operating Partnership Common Units Outstanding
OperatingPartnershipCommonUnitsOutstanding
20060991
CY2024Q1 soho Operating Partnership Common Unit Not Owned
OperatingPartnershipCommonUnitNotOwned
364186
CY2023Q4 soho Operating Partnership Common Unit Not Owned
OperatingPartnershipCommonUnitNotOwned
364186
CY2024Q1 soho Unpaid Common Dividends And Distributions Amount To Holders
UnpaidCommonDividendsAndDistributionsAmountToHolders
2088160
CY2024Q1 soho Percentage Of Matching Contribution For First Specified Percentage Of Employee Contribution
PercentageOfMatchingContributionForFirstSpecifiedPercentageOfEmployeeContribution
1.000
CY2024Q1 soho Percentage Of First Specified Percentage Of Employee Contribution
PercentageOfFirstSpecifiedPercentageOfEmployeeContribution
0.030
CY2024Q1 soho Percentage Of Matching Contribution For Next Specified Percentage Of Employee Contribution
PercentageOfMatchingContributionForNextSpecifiedPercentageOfEmployeeContribution
0.500
CY2024Q1 soho Percentage Of Next Specified Percentage Of Employee Contribution
PercentageOfNextSpecifiedPercentageOfEmployeeContribution
0.020
CY2024Q1 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
32292
CY2023Q1 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
34009
CY2016Q4 soho Employee Stock Ownership Plan Esop Maximum Borrowing Amount To Purchase Common Stock
EmployeeStockOwnershipPlanESOPMaximumBorrowingAmountToPurchaseCommonStock
5000000.0
CY2024Q1 soho Employee Stock Ownership Plan Esop Number Of Allocated And Committed To Be Released Shares
EmployeeStockOwnershipPlanESOPNumberOfAllocatedAndCommittedToBeReleasedShares
416830
CY2024Q1 soho Employee Stock Ownership Plan Esop Allocated And Committed To Be Released From Suspense Account Shares Fair Value
EmployeeStockOwnershipPlanESOPAllocatedAndCommittedToBeReleasedFromSuspenseAccountSharesFairValue
604400
CY2024Q1 soho Employee Stock Ownership Plan Recognized To Compensation Cost
EmployeeStockOwnershipPlanRecognizedToCompensationCost
6759
CY2023Q1 soho Employee Stock Ownership Plan Recognized To Compensation Cost
EmployeeStockOwnershipPlanRecognizedToCompensationCost
12195
CY2024Q1 us-gaap Employee Stock Ownership Plan Esop Number Of Suspense Shares
EmployeeStockOwnershipPlanESOPNumberOfSuspenseShares
242382
CY2024Q1 us-gaap Employee Stock Ownership Plan Esop Deferred Shares Fair Value
EmployeeStockOwnershipPlanESOPDeferredSharesFairValue
351454
CY2024Q1 us-gaap Employee Stock Ownership Plan Esop Number Of Allocated Shares
EmployeeStockOwnershipPlanESOPNumberOfAllocatedShares
412169
CY2024Q1 us-gaap Employee Stock Ownership Plan Esop Number Of Committed To Be Released Shares
EmployeeStockOwnershipPlanESOPNumberOfCommittedToBeReleasedShares
4661
CY2024Q1 us-gaap Employee Stock Ownership Plan Esop Number Of Suspense Shares
EmployeeStockOwnershipPlanESOPNumberOfSuspenseShares
242382
CY2024Q1 us-gaap Employee Stock Ownership Plan Esop Number Of Allocated Shares
EmployeeStockOwnershipPlanESOPNumberOfAllocatedShares
412169
CY2024Q1 soho Employee Stock Ownership Plan Esop Allocated Shares Fair Value
EmployeeStockOwnershipPlanESOPAllocatedSharesFairValue
597644
CY2023Q4 us-gaap Employee Stock Ownership Plan Esop Number Of Allocated Shares
EmployeeStockOwnershipPlanESOPNumberOfAllocatedShares
412169
CY2023Q4 soho Employee Stock Ownership Plan Esop Allocated Shares Fair Value
EmployeeStockOwnershipPlanESOPAllocatedSharesFairValue
614131
CY2024Q1 us-gaap Employee Stock Ownership Plan Esop Number Of Committed To Be Released Shares
EmployeeStockOwnershipPlanESOPNumberOfCommittedToBeReleasedShares
4661
CY2024Q1 soho Employee Stock Ownership Plan Esop Shares Committed To Be Released Fair Value
EmployeeStockOwnershipPlanESOPSharesCommittedToBeReleasedFairValue
6756
CY2024Q1 soho Employee Stock Ownership Plan Esop Number Of Allocated Shares And Committed To Be Released Shares
EmployeeStockOwnershipPlanESOPNumberOfAllocatedSharesAndCommittedToBeReleasedShares
416830
CY2024Q1 soho Employee Stock Ownership Plan Esop Allocated Shares And Committed To Be Released Fair Value
EmployeeStockOwnershipPlanESOPAllocatedSharesAndCommittedToBeReleasedFairValue
604400
CY2023Q4 soho Employee Stock Ownership Plan Esop Number Of Allocated Shares And Committed To Be Released Shares
EmployeeStockOwnershipPlanESOPNumberOfAllocatedSharesAndCommittedToBeReleasedShares
412169
CY2023Q4 soho Employee Stock Ownership Plan Esop Allocated Shares And Committed To Be Released Fair Value
EmployeeStockOwnershipPlanESOPAllocatedSharesAndCommittedToBeReleasedFairValue
614131
CY2024Q1 us-gaap Employee Stock Ownership Plan Esop Number Of Suspense Shares
EmployeeStockOwnershipPlanESOPNumberOfSuspenseShares
242382
CY2024Q1 us-gaap Employee Stock Ownership Plan Esop Deferred Shares Fair Value
EmployeeStockOwnershipPlanESOPDeferredSharesFairValue
351454
CY2023Q4 us-gaap Employee Stock Ownership Plan Esop Number Of Suspense Shares
EmployeeStockOwnershipPlanESOPNumberOfSuspenseShares
247043
CY2023Q4 us-gaap Employee Stock Ownership Plan Esop Deferred Shares Fair Value
EmployeeStockOwnershipPlanESOPDeferredSharesFairValue
368094
CY2024Q1 us-gaap Employee Stock Ownership Plan Esop Shares In Esop
EmployeeStockOwnershipPlanESOPSharesInESOP
659212
CY2024Q1 soho Employee Stock Ownership Plan Esop Shares Fair Value
EmployeeStockOwnershipPlanESOPSharesFairValue
955854
CY2023Q4 us-gaap Employee Stock Ownership Plan Esop Shares In Esop
EmployeeStockOwnershipPlanESOPSharesInESOP
659212
CY2023Q4 soho Employee Stock Ownership Plan Esop Shares Fair Value
EmployeeStockOwnershipPlanESOPSharesFairValue
982225
CY2024Q1 soho Indirect Hotels Operating Costs
IndirectHotelsOperatingCosts
18484896
CY2023Q1 soho Indirect Hotels Operating Costs
IndirectHotelsOperatingCosts
16747577
CY2024Q1 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
18093
CY2023Q1 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
15182
CY2024Q1 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
18093
CY2023Q1 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
15182
CY2024Q1 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-197374
CY2023Q1 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-259952
CY2024Q1 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
118681
CY2023Q1 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
131230
CY2024Q1 us-gaap Deferred Federal State And Local Tax Expense Benefit
DeferredFederalStateAndLocalTaxExpenseBenefit
-78693
CY2023Q1 us-gaap Deferred Federal State And Local Tax Expense Benefit
DeferredFederalStateAndLocalTaxExpenseBenefit
-128722
CY2024Q1 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
-78693
CY2023Q1 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
-128722
CY2024Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
18093
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
15182
CY2024Q1 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
281592
CY2023Q1 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
294566
CY2024Q1 soho Income Tax Reconciliation Federal Tax Impact Of Reit Election
IncomeTaxReconciliationFederalTaxImpactOfReitElection
-270845
CY2023Q1 soho Income Tax Reconciliation Federal Tax Impact Of Reit Election
IncomeTaxReconciliationFederalTaxImpactOfReitElection
-303786
CY2023Q1 soho Income Tax Reconciliation Federal Impact On Paycheck Protection Program Loan Forgiveness
IncomeTaxReconciliationFederalImpactOnPaycheckProtectionProgramLoanForgiveness
-56470
CY2024Q1 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-71347
CY2023Q1 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-47850
CY2024Q1 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
78693
CY2023Q1 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
128722
CY2024Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
18093
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
15182
CY2024Q1 us-gaap Profit Loss
ProfitLoss
1322821
CY2023Q1 us-gaap Profit Loss
ProfitLoss
1387514
CY2024Q1 soho Net Income Loss Allocated To Non Vested Share Awards
NetIncomeLossAllocatedToNonVestedShareAwards
14688
CY2023Q1 soho Net Income Loss Allocated To Non Vested Share Awards
NetIncomeLossAllocatedToNonVestedShareAwards
12857
CY2024Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-12118
CY2023Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-24960
CY2024Q1 us-gaap Redeemable Preferred Stock Dividends
RedeemablePreferredStockDividends
1994312
CY2023Q1 us-gaap Redeemable Preferred Stock Dividends
RedeemablePreferredStockDividends
1994312
CY2024Q1 soho Net Income Loss Attributable To Common Stockholders Basic
NetIncomeLossAttributableToCommonStockholdersBasic
-674061
CY2023Q1 soho Net Income Loss Attributable To Common Stockholders Basic
NetIncomeLossAttributableToCommonStockholdersBasic
-594695
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19359601
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18635004
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19359601
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
18635004
CY2024Q1 soho Undistributed Income Loss Basic
UndistributedIncomeLossBasic
-0.03
CY2023Q1 soho Undistributed Income Loss Basic
UndistributedIncomeLossBasic
-0.03
CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.03
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.03
CY2024Q1 soho Undistributed Income Loss Diluted
UndistributedIncomeLossDiluted
-0.03
CY2023Q1 soho Undistributed Income Loss Diluted
UndistributedIncomeLossDiluted
-0.03
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.03
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.03
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

Files In Submission

Name View Source Status
0000950170-24-121332-index-headers.html Edgar Link pending
0000950170-24-121332-index.html Edgar Link pending
0000950170-24-121332.txt Edgar Link pending
0000950170-24-121332-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
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report.css Edgar Link pending
Show.js Edgar Link pending
soho-20240331.htm Edgar Link pending
soho-20240331.xsd Edgar Link pending
soho-ex31_1.htm Edgar Link pending
soho-ex31_2.htm Edgar Link pending
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soho-ex32_1.htm Edgar Link pending
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soho-ex32_4.htm Edgar Link pending
soho-20240331_htm.xml Edgar Link completed
FilingSummary.xml Edgar Link unprocessable