$SOHO
Sotherly Hotels Inc.

2018 Q4 Form 10-Q Financial Statement

#000156459018028850 Filed on November 09, 2018

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2017 Q4
Revenue $43.47M $41.42M $38.16M
YoY Change 13.91% 12.64% 6.19%
Cost Of Revenue $16.47M $32.24M $15.56M
YoY Change 5.85% 12.03% 14.08%
Gross Profit $26.99M $9.175M $22.60M
YoY Change 19.42% 14.84% 1.39%
Gross Profit Margin 62.09% 22.15% 59.22%
Selling, General & Admin $18.36M $17.54M $14.05M
YoY Change 30.68% 6.05% -9.88%
% of Gross Profit 68.03% 191.17% 62.17%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.100M $4.540M $4.290M
YoY Change 18.88% 2.48% 14.1%
% of Gross Profit 18.9% 49.48% 18.98%
Operating Expenses $40.45M $38.30M $35.34M
YoY Change 14.46% 10.71% 7.0%
Operating Profit $3.015M $3.119M $2.820M
YoY Change 6.91% 43.46% -3.04%
Interest Expense -$6.220M $5.307M -$3.810M
YoY Change 63.25% 28.2% 0.79%
% of Operating Profit -206.31% 170.13% -135.11%
Other Income/Expense, Net
YoY Change
Pretax Income -$3.180M -$2.729M -$740.0K
YoY Change 329.73% 44.66% -34.51%
Income Tax -$410.0K -$746.9K -$360.0K
% Of Pretax Income
Net Earnings -$2.770M -$1.596M -$3.056M
YoY Change -9.35% 114.09% 4025.4%
Net Earnings / Revenue -6.37% -3.85% -8.01%
Basic Earnings Per Share -$0.23
Diluted Earnings Per Share -$169.2K -$0.23 -$187.6K
COMMON SHARES
Basic Shares Outstanding 14.21M 13.51M
Diluted Shares Outstanding 13.51M

Balance Sheet

Concept 2018 Q4 2018 Q3 2017 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $33.80M $37.00M $29.80M
YoY Change 13.42% 13.15% -6.29%
Cash & Equivalents $33.79M $37.02M $29.78M
Short-Term Investments
Other Short-Term Assets $5.300M $6.900M $7.300M
YoY Change -27.4% 11.29% 58.7%
Inventory
Prepaid Expenses
Receivables $7.000M $8.200M $6.000M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $46.10M $52.10M $43.10M
YoY Change 6.96% 15.78% 6.42%
LONG-TERM ASSETS
Property, Plant & Equipment $438.2M $440.1M $357.8M
YoY Change 22.47% 23.07% 2.64%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00
YoY Change -100.0%
Other Assets $9.200M $9.700M $9.100M
YoY Change 1.1% -29.71% -20.87%
Total Long-Term Assets $447.4M $449.8M $366.9M
YoY Change 21.95% 21.11% 0.36%
TOTAL ASSETS
Total Short-Term Assets $46.10M $52.10M $43.10M
Total Long-Term Assets $447.4M $449.8M $366.9M
Total Assets $493.5M $501.9M $410.0M
YoY Change 20.38% 20.53% 0.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $16.30M $17.30M $13.80M
YoY Change 18.12% 7.45% 6.15%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $22.50M $23.10M $18.40M
YoY Change 22.28% 10.53% 3.95%
LONG-TERM LIABILITIES
Long-Term Debt $388.7M $390.3M $297.3M
YoY Change 30.74% 20.84% -3.16%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $388.7M $390.3M $297.3M
YoY Change 30.74% 20.84% -3.16%
TOTAL LIABILITIES
Total Short-Term Liabilities $22.50M $23.10M $18.40M
Total Long-Term Liabilities $388.7M $390.3M $297.3M
Total Liabilities $411.2M $413.7M $315.8M
YoY Change 30.22% 19.64% -2.74%
SHAREHOLDERS EQUITY
Retained Earnings -$61.05M -$55.63M -$48.77M
YoY Change 25.19% 23.32%
Common Stock $147.2M $148.3M $146.4M
YoY Change 0.57% 23.49%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $81.82M $88.23M $93.02M
YoY Change
Total Liabilities & Shareholders Equity $493.5M $501.9M $410.0M
YoY Change 20.38% 20.54% 0.97%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2017 Q4
OPERATING ACTIVITIES
Net Income -$2.770M -$1.596M -$3.056M
YoY Change -9.35% 114.09% 4025.4%
Depreciation, Depletion And Amortization $5.100M $4.540M $4.290M
YoY Change 18.88% 2.48% 14.1%
Cash From Operating Activities $4.190M $5.750M $430.0K
YoY Change 874.42% 75.3% -83.9%
INVESTING ACTIVITIES
Capital Expenditures -$3.610M -$7.930M -$5.670M
YoY Change -36.33% 58.6% 53.66%
Acquisitions
YoY Change
Other Investing Activities $30.00K $690.0K $1.340M
YoY Change -97.76% -157.26%
Cash From Investing Activities -$3.580M -$7.250M -$4.340M
YoY Change -17.51% 45.0% -27.91%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -4.800M 9.810M -1.440M
YoY Change 233.33% 581.25% -119.2%
NET CHANGE
Cash From Operating Activities 4.190M 5.750M 430.0K
Cash From Investing Activities -3.580M -7.250M -4.340M
Cash From Financing Activities -4.800M 9.810M -1.440M
Net Change In Cash -4.190M 8.310M -5.350M
YoY Change -21.68% -3067.86% -228.92%
FREE CASH FLOW
Cash From Operating Activities $4.190M $5.750M $430.0K
Capital Expenditures -$3.610M -$7.930M -$5.670M
Free Cash Flow $7.800M $13.68M $6.100M
YoY Change 27.87% 65.22% -4.09%

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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
2404970
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
33429042
CY2016Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
36362920
CY2018Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
42040731
CY2017Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
38767890
us-gaap Interest Paid Net
InterestPaidNet
12859556
us-gaap Interest Paid Net
InterestPaidNet
11227980
us-gaap Income Taxes Paid
IncomeTaxesPaid
278720
us-gaap Income Taxes Paid
IncomeTaxesPaid
155077
soho Excess Of Cost Over Fair Value Of Interest Rate Swap
ExcessOfCostOverFairValueOfInterestRateSWAP
294176
soho Increase Decrease In Capital Expenditures Incurred But Not Yet Paid
IncreaseDecreaseInCapitalExpendituresIncurredButNotYetPaid
251195
soho Increase Decrease In Capital Expenditures Incurred But Not Yet Paid
IncreaseDecreaseInCapitalExpendituresIncurredButNotYetPaid
77843
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div> <p style="margin-top:12pt;margin-bottom:0pt;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">Concentration of Credit Risk<font style="font-style:normal;"> &#8211; We hold cash accounts at several institutions in excess of the Federal Deposit Insurance Corporation (the &#8220;FDIC&#8221;) protection limits of $</font><font style="font-style:normal;">250,000. Our exposure to credit loss in the event of the failure of these institutions is represented by the difference between the FDIC 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.</font></p></div>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div> <p style="margin-top:12pt;margin-bottom:0pt;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">Reclassifications<font style="font-style:normal;"> - </font><font style="font-style:normal;">Certain reclassifications have been made to the prior period&#8217;s financial statements to conform to the current year presentation.&nbsp;&nbsp;We have adopted ASU 2016-18 </font><font style="color:#000000;">Statement of Cash Flows (Topic 230): Restricted Cash, </font><font style="color:#000000;font-style:normal;">whereby the restricted cash balances are reflected in the total Cash, Cash Equivalents and Restricted Cash for both current and prior year presentation.&nbsp;&nbsp;We have also reclassified gain (loss) on disposal of assets in the prior period&#8217;s consolidated statements of operations, to separate disposals related to changes in estimated useful lives of assets, from assets which were disposed of by sale in the respective periods.</font></p></div>
dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2004-08-20
CY2018Q3 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
12
CY2018Q3 soho Number Of Rooms In Hotel
NumberOfRoomsInHotel
3156
soho Date Of Commencement Of Business
DateOfCommencementOfBusiness
2004-12-21
us-gaap Number Of Businesses Acquired
NumberOfBusinessesAcquired
6
CY2018Q3 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000
CY2018Q3 soho Un Amortized Franchise Fees
UnAmortizedFranchiseFees
486865
CY2017Q4 soho Un Amortized Franchise Fees
UnAmortizedFranchiseFees
532070
CY2018Q3 soho Amortization Expense Franchise License Fees
AmortizationExpenseFranchiseLicenseFees
14868
CY2017Q3 soho Amortization Expense Franchise License Fees
AmortizationExpenseFranchiseLicenseFees
11217
soho Amortization Expense Franchise License Fees
AmortizationExpenseFranchiseLicenseFees
45204
soho Amortization Expense Franchise License Fees
AmortizationExpenseFranchiseLicenseFees
35299
CY2018Q3 soho Amortization Expense On Favorable Lease Assets Net
AmortizationExpenseOnFavorableLeaseAssetsNet
94823
soho Amortization Expense On Favorable Lease Assets Net
AmortizationExpenseOnFavorableLeaseAssetsNet
221256
CY2018Q3 us-gaap Derivative Fixed Interest Rate
DerivativeFixedInterestRate
0.05237
CY2018Q3 us-gaap Operating Leases Future Minimum Payments Receivable Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsReceivableRemainderOfFiscalYear
470978
CY2018Q3 us-gaap Operating Leases Future Minimum Payments Receivable In Two Years
OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears
926452
CY2018Q3 us-gaap Operating Leases Future Minimum Payments Receivable In Three Years
OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears
920492
CY2018Q3 us-gaap Operating Leases Future Minimum Payments Receivable In Four Years
OperatingLeasesFutureMinimumPaymentsReceivableInFourYears
857164
CY2018Q3 us-gaap Operating Leases Future Minimum Payments Receivable In Five Years
OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears
739306
CY2018Q3 us-gaap Operating Leases Future Minimum Payments Receivable Thereafter
OperatingLeasesFutureMinimumPaymentsReceivableThereafter
4266894
CY2018Q3 us-gaap Operating Leases Future Minimum Payments Receivable
OperatingLeasesFutureMinimumPaymentsReceivable
8181286
CY2018Q3 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
4200000
CY2017Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
4900000
soho Minimum Percentage Of Likelihood Of Realization Of Deferred Tax Assets
MinimumPercentageOfLikelihoodOfRealizationOfDeferredTaxAssets
0.50
CY2018Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
0
CY2018Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2017Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2018Q3 us-gaap Advertising Expense
AdvertisingExpense
88154
CY2017Q3 us-gaap Advertising Expense
AdvertisingExpense
101788
us-gaap Advertising Expense
AdvertisingExpense
334271
us-gaap Advertising Expense
AdvertisingExpense
251892
CY2018Q3 soho Gain Loss Due To Involuntary Conversion Of Assets
GainLossDueToInvoluntaryConversionOfAssets
0
CY2017Q3 soho Gain Loss Due To Involuntary Conversion Of Assets
GainLossDueToInvoluntaryConversionOfAssets
0
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2018Q3 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
546328424
CY2017Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
456505158
CY2018Q3 soho Real Estate Investment Property Accumulated Depreciation And Impairment
RealEstateInvestmentPropertyAccumulatedDepreciationAndImpairment
108802624
CY2017Q4 soho Real Estate Investment Property Accumulated Depreciation And Impairment
RealEstateInvestmentPropertyAccumulatedDepreciationAndImpairment
98705646
CY2018Q3 us-gaap Mortgage Loans On Real Estate
MortgageLoansOnRealEstate
366600000
CY2017Q4 us-gaap Mortgage Loans On Real Estate
MortgageLoansOnRealEstate
297300000
CY2018Q3 us-gaap Secured Debt
SecuredDebt
369500475
CY2017Q4 us-gaap Secured Debt
SecuredDebt
299051772
CY2018Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
3096292
CY2017Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
1923928
CY2018Q3 us-gaap Debt Instrument Unamortized Premium
DebtInstrumentUnamortizedPremium
172462
CY2017Q4 us-gaap Debt Instrument Unamortized Premium
DebtInstrumentUnamortizedPremium
190972
CY2018Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
1763990
CY2018Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
24705666
CY2018Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
7527783
CY2018Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
74064599
CY2018Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
23657707
CY2018Q3 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
237780730
CY2018Q3 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
148613
CY2018Q3 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
478596
CY2018Q3 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
364163
CY2018Q3 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
354639
CY2018Q3 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
351464
CY2018Q3 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
3920164
CY2018Q3 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
5617639
soho Number Of Hotels Operated Under Franchise License
NumberOfHotelsOperatedUnderFranchiseLicense
9
CY2016Q4 soho Employee Stock Ownership Plan Esop Maximum Borrowing Amount To Purchase Common Stock
EmployeeStockOwnershipPlanESOPMaximumBorrowingAmountToPurchaseCommonStock
5000000
CY2018Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
11000000
CY2017Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
11000000
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.
CY2016Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2017 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
882820
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0
CY2017 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
5900000
us-gaap Stock Issued During Period Shares Employee Stock Ownership Plan
StockIssuedDuringPeriodSharesEmployeeStockOwnershipPlan
682500
us-gaap Stock Issued During Period Value Employee Stock Ownership Plan
StockIssuedDuringPeriodValueEmployeeStockOwnershipPlan
4900000
CY2018Q3 soho Common Stock Exchange Ratio
CommonStockExchangeRatio
1
us-gaap Partners Capital Account Units Redeemed
PartnersCapitalAccountUnitsRedeemed
0
CY2018Q3 soho Operating Partnership Common Unit Not Owned
OperatingPartnershipCommonUnitNotOwned
1778140
CY2017Q4 soho Operating Partnership Common Unit Not Owned
OperatingPartnershipCommonUnitNotOwned
1778140
soho Percentage Of Matching Contribution For First Specified Percentage Of Employee Contribution
PercentageOfMatchingContributionForFirstSpecifiedPercentageOfEmployeeContribution
1.000
soho Percentage Of Matching Contribution For Next Specified Percentage Of Employee Contribution
PercentageOfMatchingContributionForNextSpecifiedPercentageOfEmployeeContribution
0.500
soho Percentage Of First Specified Percentage Of Employee Contribution
PercentageOfFirstSpecifiedPercentageOfEmployeeContribution
0.030
soho Percentage Of Next Specified Percentage Of Employee Contribution
PercentageOfNextSpecifiedPercentageOfEmployeeContribution
0.020
us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
61607
us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
57516
CY2018Q3 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
12568
CY2017Q3 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
11659
CY2017Q1 us-gaap Stock Issued During Period Shares Employee Stock Ownership Plan
StockIssuedDuringPeriodSharesEmployeeStockOwnershipPlan
682500
CY2017Q1 us-gaap Stock Issued During Period Value Employee Stock Ownership Plan
StockIssuedDuringPeriodValueEmployeeStockOwnershipPlan
4900000
soho Employee Stock Ownership Plan Esop Number Of Allocated And Committed To Be Released Shares
EmployeeStockOwnershipPlanESOPNumberOfAllocatedAndCommittedToBeReleasedShares
59893
soho Employee Stock Ownership Plan Esop Number Of Allocated And Committed To Be Released Shares
EmployeeStockOwnershipPlanESOPNumberOfAllocatedAndCommittedToBeReleasedShares
25408
soho Employee Stock Ownership Plan Esop Allocated And Committed To Be Released From Suspense Account Shares Fair Value
EmployeeStockOwnershipPlanESOPAllocatedAndCommittedToBeReleasedFromSuspenseAccountSharesFairValue
416088
soho Employee Stock Ownership Plan Esop Allocated And Committed To Be Released From Suspense Account Shares Fair Value
EmployeeStockOwnershipPlanESOPAllocatedAndCommittedToBeReleasedFromSuspenseAccountSharesFairValue
178137
CY2018Q3 us-gaap Employee Stock Ownership Plan Esop Number Of Suspense Shares
EmployeeStockOwnershipPlanESOPNumberOfSuspenseShares
622607
CY2018Q3 us-gaap Employee Stock Ownership Plan Esop Deferred Shares Fair Value
EmployeeStockOwnershipPlanESOPDeferredSharesFairValue
4482773
CY2018Q3 us-gaap Employee Stock Ownership Plan Esop Number Of Allocated Shares
EmployeeStockOwnershipPlanESOPNumberOfAllocatedShares
36925
CY2018Q3 us-gaap Employee Stock Ownership Plan Esop Number Of Committed To Be Released Shares
EmployeeStockOwnershipPlanESOPNumberOfCommittedToBeReleasedShares
22968
CY2017Q4 us-gaap Employee Stock Ownership Plan Esop Number Of Allocated Shares
EmployeeStockOwnershipPlanESOPNumberOfAllocatedShares
9473
CY2017Q4 us-gaap Employee Stock Ownership Plan Esop Number Of Committed To Be Released Shares
EmployeeStockOwnershipPlanESOPNumberOfCommittedToBeReleasedShares
24359
CY2018Q3 soho Employee Stock Ownership Plan Esop Number Of Allocated Shares And Committed To Be Released Shares
EmployeeStockOwnershipPlanESOPNumberOfAllocatedSharesAndCommittedToBeReleasedShares
59893
CY2017Q4 soho Employee Stock Ownership Plan Esop Number Of Allocated Shares And Committed To Be Released Shares
EmployeeStockOwnershipPlanESOPNumberOfAllocatedSharesAndCommittedToBeReleasedShares
33832
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
14141273
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
14481104
CY2018Q3 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-573028
CY2017Q3 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-641346
us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
639311
us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
851313
CY2018Q3 soho Income Tax Reconciliation Tax Exempt Income Expense
IncomeTaxReconciliationTaxExemptIncomeExpense
39675
CY2017Q3 soho Income Tax Reconciliation Tax Exempt Income Expense
IncomeTaxReconciliationTaxExemptIncomeExpense
248043
soho Income Tax Reconciliation Tax Exempt Income Expense
IncomeTaxReconciliationTaxExemptIncomeExpense
47394
CY2018Q3 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-134221
CY2018Q3 us-gaap Weighted Average Number Of Shares Employee Stock Ownership Plan Shares Not Committed To Be Released
WeightedAverageNumberOfSharesEmployeeStockOwnershipPlanSharesNotCommittedToBeReleased
640418
CY2017Q3 us-gaap Weighted Average Number Of Shares Employee Stock Ownership Plan Shares Not Committed To Be Released
WeightedAverageNumberOfSharesEmployeeStockOwnershipPlanSharesNotCommittedToBeReleased
665516
us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
79897
CY2018Q3 soho Deferred Tax Asset Nondeductible Accrued Expenses
DeferredTaxAssetNondeductibleAccruedExpenses
500000
CY2017Q4 soho Deferred Tax Asset Nondeductible Accrued Expenses
DeferredTaxAssetNondeductibleAccruedExpenses
600000
soho Loss Carryforwards Expiration Dates
LossCarryforwardsExpirationDates
2028
CY2018Q3 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
14154414
CY2017Q3 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
14488059
CY2017Q4 us-gaap Employee Stock Ownership Plan Esop Number Of Suspense Shares
EmployeeStockOwnershipPlanESOPNumberOfSuspenseShares
648668
CY2018Q3 us-gaap Employee Stock Ownership Plan Esop Shares In Esop
EmployeeStockOwnershipPlanESOPSharesInESOP
682500
CY2017Q4 us-gaap Employee Stock Ownership Plan Esop Shares In Esop
EmployeeStockOwnershipPlanESOPSharesInESOP
682500
CY2018Q3 soho Employee Stock Ownership Plan Esop Allocated Shares Fair Value
EmployeeStockOwnershipPlanESOPAllocatedSharesFairValue
250721
CY2017Q4 soho Employee Stock Ownership Plan Esop Allocated Shares Fair Value
EmployeeStockOwnershipPlanESOPAllocatedSharesFairValue
64321
CY2018Q3 soho Employee Stock Ownership Plan Esop Shares Committed To Be Released Fair Value
EmployeeStockOwnershipPlanESOPSharesCommittedToBeReleasedFairValue
165367
CY2017Q4 soho Employee Stock Ownership Plan Esop Shares Committed To Be Released Fair Value
EmployeeStockOwnershipPlanESOPSharesCommittedToBeReleasedFairValue
157117
CY2018Q3 soho Employee Stock Ownership Plan Esop Allocated Shares And Committed To Be Released Fair Value
EmployeeStockOwnershipPlanESOPAllocatedSharesAndCommittedToBeReleasedFairValue
416088
CY2017Q4 soho Employee Stock Ownership Plan Esop Allocated Shares And Committed To Be Released Fair Value
EmployeeStockOwnershipPlanESOPAllocatedSharesAndCommittedToBeReleasedFairValue
221438
CY2017Q4 us-gaap Employee Stock Ownership Plan Esop Deferred Shares Fair Value
EmployeeStockOwnershipPlanESOPDeferredSharesFairValue
4183908
CY2018Q3 soho Employee Stock Ownership Plan Esop Shares Fair Value
EmployeeStockOwnershipPlanESOPSharesFairValue
4898861
CY2017Q4 soho Employee Stock Ownership Plan Esop Shares Fair Value
EmployeeStockOwnershipPlanESOPSharesFairValue
4405346
CY2018Q3 soho Indirect Hotels Operating Costs
IndirectHotelsOperatingCosts
16027496
CY2017Q3 soho Indirect Hotels Operating Costs
IndirectHotelsOperatingCosts
15209249
soho Indirect Hotels Operating Costs
IndirectHotelsOperatingCosts
48901037
soho Indirect Hotels Operating Costs
IndirectHotelsOperatingCosts
45019742
CY2017Q3 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
-10184
CY2018Q3 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
24266
CY2017Q3 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
97641
us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
131306
us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
197881
CY2018Q3 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
24266
CY2017Q3 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
87457
us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
131306
us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
197881
CY2018Q3 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-612703
CY2017Q3 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-879206
us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
591917
us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-661787
CY2018Q3 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-158487
CY2017Q3 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-158561
us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
158822
us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-117984
CY2018Q3 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-771190
CY2017Q3 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-1037767
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
750739
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-779771
us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="margin-top:12pt;margin-bottom:0pt;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">Use of Estimates<font style="font-style:normal;"> &#8211; The preparation of the financial statements in conformity with accounting principles generally accepted in the United States of America (&#8220;GAAP&#8221;) 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.</font></p></div>
us-gaap Weighted Average Number Of Shares Employee Stock Ownership Plan Shares Not Committed To Be Released
WeightedAverageNumberOfSharesEmployeeStockOwnershipPlanSharesNotCommittedToBeReleased
649466
us-gaap Weighted Average Number Of Shares Employee Stock Ownership Plan Shares Not Committed To Be Released
WeightedAverageNumberOfSharesEmployeeStockOwnershipPlanSharesNotCommittedToBeReleased
607929
CY2018Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
14154414
CY2017Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
14488059
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
14141273
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
14493219
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
97270143
CY2017Q3 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-60921

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