$SOHO
Sotherly Hotels Inc.

2017 Q4 Form 10-K Financial Statement

#000156459019008031 Filed on March 15, 2019

View on sec.gov

Income Statement

Concept 2017 Q4 2017 Q3 2017 Q2
Revenue $38.16M $36.77M $40.64M
YoY Change 6.19% -1.36% -2.83%
Cost Of Revenue $15.56M $28.78M $29.12M
YoY Change 14.08% 110.08% 97.72%
Gross Profit $22.60M $7.989M $11.52M
YoY Change 1.39% -66.12% -57.48%
Gross Profit Margin 59.22% 21.73% 28.34%
Selling, General & Admin $14.05M $16.54M $17.44M
YoY Change -9.88% 4.29% 9.2%
% of Gross Profit 62.17% 207.03% 151.41%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.290M $4.430M $4.220M
YoY Change 14.1% 16.89% 11.05%
% of Gross Profit 18.98% 55.45% 36.64%
Operating Expenses $35.34M $34.60M $35.18M
YoY Change 7.0% 3.15% 1.54%
Operating Profit $2.820M $2.174M $5.464M
YoY Change -3.04% -41.79% -23.89%
Interest Expense -$3.810M $4.139M $3.874M
YoY Change 0.79% -190.38% -16.02%
% of Operating Profit -135.11% 190.37% 70.9%
Other Income/Expense, Net
YoY Change
Pretax Income -$740.0K -$1.886M $1.312M
YoY Change -34.51% -2.26% -47.31%
Income Tax -$360.0K -$950.3K $196.5K
% Of Pretax Income 14.97%
Net Earnings -$3.056M -$745.6K $1.082M
YoY Change 4025.4% -51.87% -45.29%
Net Earnings / Revenue -8.01% -2.03% 2.66%
Basic Earnings Per Share -$0.11 $0.02
Diluted Earnings Per Share -$187.6K -$0.11 $0.02
COMMON SHARES
Basic Shares Outstanding 13.82M 13.81M
Diluted Shares Outstanding 13.82M 13.82M

Balance Sheet

Concept 2017 Q4 2017 Q3 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $29.80M $32.70M $34.40M
YoY Change -6.29% 23.86% 31.8%
Cash & Equivalents $29.78M $38.77M $39.06M
Short-Term Investments
Other Short-Term Assets $7.300M $6.200M $5.900M
YoY Change 58.7% 26.53% 18.0%
Inventory
Prepaid Expenses
Receivables $6.000M $6.100M $3.900M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $43.10M $45.00M $44.20M
YoY Change 6.42% 25.0% 24.86%
LONG-TERM ASSETS
Property, Plant & Equipment $357.8M $357.6M $357.5M
YoY Change 2.64% 0.99% 0.42%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00 $0.00 $0.00
YoY Change -100.0%
Other Assets $9.100M $13.80M $11.30M
YoY Change -20.87% 17.95% 14.14%
Total Long-Term Assets $366.9M $371.4M $368.8M
YoY Change 0.36% 1.48% 0.79%
TOTAL ASSETS
Total Short-Term Assets $43.10M $45.00M $44.20M
Total Long-Term Assets $366.9M $371.4M $368.8M
Total Assets $410.0M $416.4M $413.0M
YoY Change 0.97% 3.58% 2.91%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $13.80M $16.10M $13.50M
YoY Change 6.15% 3.21% -7.53%
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 $18.40M $20.90M $18.20M
YoY Change 3.95% 4.5% -0.55%
LONG-TERM LIABILITIES
Long-Term Debt $297.3M $323.0M $318.9M
YoY Change -3.16% 9.45% -3.45%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $297.3M $323.0M $318.9M
YoY Change -3.16% 9.45% -3.45%
TOTAL LIABILITIES
Total Short-Term Liabilities $18.40M $20.90M $18.20M
Total Long-Term Liabilities $297.3M $323.0M $318.9M
Total Liabilities $315.8M $345.8M $337.1M
YoY Change -2.74% 8.88% -4.13%
SHAREHOLDERS EQUITY
Retained Earnings -$48.77M -$40.23M
YoY Change 23.32% 17.41%
Common Stock $146.4M $118.6M
YoY Change 23.49%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $93.02M $70.70M $73.67M
YoY Change
Total Liabilities & Shareholders Equity $410.0M $416.4M $413.0M
YoY Change 0.97% 3.58% 2.93%

Cashflow Statement

Concept 2017 Q4 2017 Q3 2017 Q2
OPERATING ACTIVITIES
Net Income -$3.056M -$745.6K $1.082M
YoY Change 4025.4% -51.87% -45.29%
Depreciation, Depletion And Amortization $4.290M $4.430M $4.220M
YoY Change 14.1% 16.89% 11.05%
Cash From Operating Activities $430.0K $3.280M $6.110M
YoY Change -83.9% 80.22% -11.06%
INVESTING ACTIVITIES
Capital Expenditures -$5.670M -$5.000M -$6.180M
YoY Change 53.66% 109.21% 59.69%
Acquisitions
YoY Change
Other Investing Activities $1.340M $0.00 $270.0K
YoY Change -157.26% -100.0% -126.73%
Cash From Investing Activities -$4.340M -$5.000M -$5.910M
YoY Change -27.91% 342.48% 21.11%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.440M 1.440M 12.47M
YoY Change -119.2% -511.43% 36.88%
NET CHANGE
Cash From Operating Activities 430.0K 3.280M 6.110M
Cash From Investing Activities -4.340M -5.000M -5.910M
Cash From Financing Activities -1.440M 1.440M 12.47M
Net Change In Cash -5.350M -280.0K 12.67M
YoY Change -228.92% -182.35% 14.14%
FREE CASH FLOW
Cash From Operating Activities $430.0K $3.280M $6.110M
Capital Expenditures -$5.670M -$5.000M -$6.180M
Free Cash Flow $6.100M $8.280M $12.29M
YoY Change -4.09% 96.67% 14.43%

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837991
CY2016 soho Payments Of Deferred Financing Costs
PaymentsOfDeferredFinancingCosts
1796351
CY2017 us-gaap Origination Of Loans To Employee Stock Ownership Plans
OriginationOfLoansToEmployeeStockOwnershipPlans
4874758
CY2017 us-gaap Distribution Made To Limited Partner Cash Distributions Paid
DistributionMadeToLimitedPartnerCashDistributionsPaid
5945401
CY2016 us-gaap Distribution Made To Limited Partner Cash Distributions Paid
DistributionMadeToLimitedPartnerCashDistributionsPaid
5851813
CY2018 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
5829914
CY2017 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
3781639
CY2016 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
339889
CY2018 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
79174915
CY2017 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
549709
CY2016 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
15798218
CY2018 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
4439239
CY2017 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-2933878
CY2016 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
19075167
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
CY2015Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
17287753
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
37868281
CY2018 us-gaap Interest Paid Net
InterestPaidNet
18325563
CY2017 us-gaap Interest Paid Net
InterestPaidNet
15253059
CY2016 us-gaap Interest Paid Net
InterestPaidNet
16881223
CY2018 us-gaap Income Taxes Paid
IncomeTaxesPaid
173753
CY2017 us-gaap Income Taxes Paid
IncomeTaxesPaid
162677
CY2016 us-gaap Income Taxes Paid
IncomeTaxesPaid
192965
CY2017 soho Settlements For Repurchase Of Common Stock In Accounts Payable And Accrued Liabilities
SettlementsForRepurchaseOfCommonStockInAccountsPayableAndAccruedLiabilities
125279
CY2016 soho Settlements For Repurchase Of Common Stock In Accounts Payable And Accrued Liabilities
SettlementsForRepurchaseOfCommonStockInAccountsPayableAndAccruedLiabilities
1103129
CY2016 soho Increase Decrease In Capital Expenditures Incurred But Not Yet Paid
IncreaseDecreaseInCapitalExpendituresIncurredButNotYetPaid
431858
CY2018 soho Increase Decrease In Non Controlling Interest And Additional Paid In Capital
IncreaseDecreaseInNonControllingInterestAndAdditionalPaidInCapital
867421
CY2018 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">Concentration of Credit Risk &#8211;<font style="font-style:normal;"> We hold cash accounts at several institutions in excess of the Federal Deposit Insurance Corporation (the &#8220;FDIC&#8221;) protection limits of $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. </font><font style="color:#000000;font-style:normal;">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>
CY2018 us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">Use of Estimates &#8211;<font style="font-style:normal;"> The preparation of the financial statements in conformity with accounting principles generally accepted in the United States of America 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>
CY2018 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">Reclassifications <font style="font-style:normal;">&#8211; 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 Statement of Cash Flows (Topic 230): Restricted Cash, 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.&nbsp;&nbsp;</font><font style="color:#000000;font-style:normal;">Certain other reclassifications in the amount of approximately $0.6 million for the twelve-month period ending December 31, 2016, from rooms expense to indirect expense balances on the consolidated statements of operations have been made to conform to the current period presentation.</font><font style="font-style:normal;">&nbsp;&nbsp;We also reclassified approximately $0.3 million for the </font><font style="color:#000000;font-style:normal;">twelve-month period ending December 31, 2016 on the statement of cash flows into line item, loss on early extinguishments of debt, and out of line item, payments of deferred financing costs, in order to conform to the current period presentation.</font></p>
CY2018 dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2004-08-20
CY2018Q4 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
12
CY2018Q4 soho Number Of Rooms In Hotel
NumberOfRoomsInHotel
3156
CY2018 soho Date Of Commencement Of Business
DateOfCommencementOfBusiness
2004-12-21
CY2018 us-gaap Number Of Businesses Acquired
NumberOfBusinessesAcquired
6
CY2016Q1 us-gaap Debt Instrument Maturity Date
DebtInstrumentMaturityDate
2017-11-13
CY2016Q4 us-gaap Secured Debt
SecuredDebt
20500000
CY2016Q4 us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
15000000
CY2016Q4 soho Mortgage Loan Additional Earn Out Provision
MortgageLoanAdditionalEarnOutProvision
5500000
CY2016Q4 soho Mortgage Loan Term Period
MortgageLoanTermPeriod
P5Y
CY2016Q4 soho Debt Instrument Bears Interest Floating Rate Period
DebtInstrumentBearsInterestFloatingRatePeriod
P1M
CY2016Q4 us-gaap Debt Instrument Basis Spread On Variable Rate1
DebtInstrumentBasisSpreadOnVariableRate1
0.035
CY2016Q4 us-gaap Long Term Debt Percentage Bearing Fixed Interest Rate
LongTermDebtPercentageBearingFixedInterestRate
0.040
CY2016Q4 us-gaap Debt Instrument Term
DebtInstrumentTerm
P18Y
CY2016Q4 soho Number Of Parts Mortgage Loan Issued
NumberOfPartsMortgageLoanIssued
2
CY2016Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2018 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0
CY2017 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
401720
CY2016 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
481100
CY2018 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
0
CY2016Q1 soho Employee Stock Ownership Plan Esop Maximum Borrowing Amount To Purchase Common Stock
EmployeeStockOwnershipPlanESOPMaximumBorrowingAmountToPurchaseCommonStock
5000000
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
CY2018Q4 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000
CY2018Q4 soho Un Amortized Franchise Fees
UnAmortizedFranchiseFees
471996
CY2017Q4 soho Un Amortized Franchise Fees
UnAmortizedFranchiseFees
532070
CY2018 soho Amortization Expense Franchise License Fees
AmortizationExpenseFranchiseLicenseFees
60073
CY2017 soho Amortization Expense Franchise License Fees
AmortizationExpenseFranchiseLicenseFees
46209
CY2016 soho Amortization Expense Franchise License Fees
AmortizationExpenseFranchiseLicenseFees
52330
CY2018 soho Amortization Expense On Favorable Lease Assets Net
AmortizationExpenseOnFavorableLeaseAssetsNet
316080
CY2017 soho Amortization Expense On Favorable Lease Assets Net
AmortizationExpenseOnFavorableLeaseAssetsNet
0
CY2016 soho Amortization Expense On Favorable Lease Assets Net
AmortizationExpenseOnFavorableLeaseAssetsNet
0
CY2018 us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
0
CY2017 us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
500000
CY2016 us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
0
CY2018Q4 us-gaap Deferred Finance Costs Gross
DeferredFinanceCostsGross
0
CY2018Q4 us-gaap Derivative Fixed Interest Rate
DerivativeFixedInterestRate
0.05237
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable Current
OperatingLeasesFutureMinimumPaymentsReceivableCurrent
1675930
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Two Years
OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears
1625491
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Three Years
OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears
1566965
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Four Years
OperatingLeasesFutureMinimumPaymentsReceivableInFourYears
1393983
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Five Years
OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears
557428
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable Thereafter
OperatingLeasesFutureMinimumPaymentsReceivableThereafter
3199781
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable
OperatingLeasesFutureMinimumPaymentsReceivable
10019578
CY2018Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
4400000
CY2018 soho Minimum Percentage Of Likelihood Of Realization Of Deferred Tax Assets
MinimumPercentageOfLikelihoodOfRealizationOfDeferredTaxAssets
0.50
CY2018Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
0
CY2018Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2018 us-gaap Advertising Expense
AdvertisingExpense
432754
CY2017 us-gaap Advertising Expense
AdvertisingExpense
357379
CY2016 soho Gain Loss Due To Involuntary Conversion Of Assets
GainLossDueToInvoluntaryConversionOfAssets
0
CY2018 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2018Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
546898044
CY2017Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
456505158
CY2018Q4 soho Real Estate Investment Property Accumulated Depreciation And Impairment
RealEstateInvestmentPropertyAccumulatedDepreciationAndImpairment
111172230
CY2017Q4 soho Real Estate Investment Property Accumulated Depreciation And Impairment
RealEstateInvestmentPropertyAccumulatedDepreciationAndImpairment
98705646
CY2018 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0
CY2017 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0
CY2018Q4 us-gaap Mortgage Loans On Real Estate
MortgageLoansOnRealEstate
364800000
CY2017Q4 us-gaap Mortgage Loans On Real Estate
MortgageLoansOnRealEstate
297300000
CY2018Q4 us-gaap Secured Debt
SecuredDebt
367613880
CY2017Q4 us-gaap Secured Debt
SecuredDebt
299051772
CY2018Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
2951327
CY2017Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
1923928
CY2018Q4 us-gaap Debt Instrument Unamortized Premium
DebtInstrumentUnamortizedPremium
166292
CY2017Q4 us-gaap Debt Instrument Unamortized Premium
DebtInstrumentUnamortizedPremium
190972
CY2018Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
24301062
CY2018Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
6161782
CY2018Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
14362532
CY2018Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
24752732
CY2018Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
60594053
CY2018Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
237441719
CY2017 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
220000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
475343
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
364163
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
354639
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
351464
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
351464
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
3568701
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
5465774
CY2016Q4 soho Employee Stock Ownership Plan Esop Maximum Borrowing Amount To Purchase Common Stock
EmployeeStockOwnershipPlanESOPMaximumBorrowingAmountToPurchaseCommonStock
5000000
CY2018Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
11000000
CY2017Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
11000000
CY2018 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.
CY2018Q4 soho Common Stock Exchange Ratio
CommonStockExchangeRatio
1
CY2018Q4 soho Operating Partnership Common Unit Not Owned
OperatingPartnershipCommonUnitNotOwned
1778140
CY2017Q4 soho Operating Partnership Common Unit Not Owned
OperatingPartnershipCommonUnitNotOwned
1778140
CY2018 soho Percentage Of Matching Contribution For First Specified Percentage Of Employee Contribution
PercentageOfMatchingContributionForFirstSpecifiedPercentageOfEmployeeContribution
1.000
CY2018 soho Percentage Of Matching Contribution For Next Specified Percentage Of Employee Contribution
PercentageOfMatchingContributionForNextSpecifiedPercentageOfEmployeeContribution
0.500
CY2018 soho Percentage Of First Specified Percentage Of Employee Contribution
PercentageOfFirstSpecifiedPercentageOfEmployeeContribution
0.030
CY2018 soho Percentage Of Next Specified Percentage Of Employee Contribution
PercentageOfNextSpecifiedPercentageOfEmployeeContribution
0.020
CY2018 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
71623
CY2017 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
67273
CY2016 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
63944
CY2018Q4 us-gaap Employee Stock Ownership Plan Esop Number Of Allocated Shares
EmployeeStockOwnershipPlanESOPNumberOfAllocatedShares
33832
CY2017Q4 us-gaap Employee Stock Ownership Plan Esop Number Of Allocated Shares
EmployeeStockOwnershipPlanESOPNumberOfAllocatedShares
9473
CY2018Q4 us-gaap Employee Stock Ownership Plan Esop Number Of Committed To Be Released Shares
EmployeeStockOwnershipPlanESOPNumberOfCommittedToBeReleasedShares
35474
CY2017Q4 us-gaap Employee Stock Ownership Plan Esop Number Of Committed To Be Released Shares
EmployeeStockOwnershipPlanESOPNumberOfCommittedToBeReleasedShares
24359
CY2018Q4 soho Employee Stock Ownership Plan Esop Number Of Allocated Shares And Committed To Be Released Shares
EmployeeStockOwnershipPlanESOPNumberOfAllocatedSharesAndCommittedToBeReleasedShares
69306
CY2017Q4 soho Employee Stock Ownership Plan Esop Number Of Allocated Shares And Committed To Be Released Shares
EmployeeStockOwnershipPlanESOPNumberOfAllocatedSharesAndCommittedToBeReleasedShares
33832
CY2018Q4 us-gaap Employee Stock Ownership Plan Esop Number Of Suspense Shares
EmployeeStockOwnershipPlanESOPNumberOfSuspenseShares
613194
CY2017Q4 us-gaap Employee Stock Ownership Plan Esop Number Of Suspense Shares
EmployeeStockOwnershipPlanESOPNumberOfSuspenseShares
648668
CY2018Q4 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
CY2018Q4 soho Employee Stock Ownership Plan Esop Allocated Shares Fair Value
EmployeeStockOwnershipPlanESOPAllocatedSharesFairValue
189798
CY2017Q4 soho Employee Stock Ownership Plan Esop Allocated Shares Fair Value
EmployeeStockOwnershipPlanESOPAllocatedSharesFairValue
64321
CY2018Q4 soho Employee Stock Ownership Plan Esop Shares Committed To Be Released Fair Value
EmployeeStockOwnershipPlanESOPSharesCommittedToBeReleasedFairValue
199007
CY2017Q4 soho Employee Stock Ownership Plan Esop Shares Committed To Be Released Fair Value
EmployeeStockOwnershipPlanESOPSharesCommittedToBeReleasedFairValue
157117
CY2018Q4 soho Employee Stock Ownership Plan Esop Allocated Shares And Committed To Be Released Fair Value
EmployeeStockOwnershipPlanESOPAllocatedSharesAndCommittedToBeReleasedFairValue
388805
CY2017Q4 soho Employee Stock Ownership Plan Esop Allocated Shares And Committed To Be Released Fair Value
EmployeeStockOwnershipPlanESOPAllocatedSharesAndCommittedToBeReleasedFairValue
221438
CY2018Q4 us-gaap Employee Stock Ownership Plan Esop Deferred Shares Fair Value
EmployeeStockOwnershipPlanESOPDeferredSharesFairValue
3440020
CY2017Q4 us-gaap Employee Stock Ownership Plan Esop Deferred Shares Fair Value
EmployeeStockOwnershipPlanESOPDeferredSharesFairValue
4183908
CY2018Q4 soho Employee Stock Ownership Plan Esop Shares Fair Value
EmployeeStockOwnershipPlanESOPSharesFairValue
3828825
CY2017Q4 soho Employee Stock Ownership Plan Esop Shares Fair Value
EmployeeStockOwnershipPlanESOPSharesFairValue
4405346
CY2018 soho Indirect Hotels Operating Costs
IndirectHotelsOperatingCosts
65645500
CY2018Q1 us-gaap Profit Loss
ProfitLoss
1176488
CY2018Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.23
CY2018Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.28
CY2018Q1 soho Net Income Loss Attributable To Operating Partnership Unit Holders
NetIncomeLossAttributableToOperatingPartnershipUnitHolders
-268356
CY2018Q2 us-gaap Profit Loss
ProfitLoss
2967589
CY2018Q3 us-gaap Profit Loss
ProfitLoss
-1981780
CY2018Q4 us-gaap Profit Loss
ProfitLoss
-2770454
CY2018Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-238343
CY2018Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1352414
CY2018Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-3065883
CY2018Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-3768166
CY2018Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.02
CY2018Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.10
CY2018Q2 soho Net Income Loss Attributable To Operating Partnership Unit Holders
NetIncomeLossAttributableToOperatingPartnershipUnitHolders
1522745
CY2017 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
239582
CY2017 soho Indirect Hotels Operating Costs
IndirectHotelsOperatingCosts
57612203
CY2016 soho Indirect Hotels Operating Costs
IndirectHotelsOperatingCosts
57736937
CY2018 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
351663
CY2018 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-31724
CY2017 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-162931
CY2018 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
319939
CY2017 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
1498222
CY2016 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-1558966
CY2018 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-29150
CY2017 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
600880
CY2016 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-158859
CY2018 soho Income Tax Reconciliation Tax Exempt Income Expense
IncomeTaxReconciliationTaxExemptIncomeExpense
-380813
CY2017 soho Income Tax Reconciliation Tax Exempt Income Expense
IncomeTaxReconciliationTaxExemptIncomeExpense
1621526
CY2016 soho Income Tax Reconciliation Tax Exempt Income Expense
IncomeTaxReconciliationTaxExemptIncomeExpense
1135549
CY2017 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
2681800
CY2018 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
117686
CY2017 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
76650
CY2016 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-73226
CY2018 soho Loss Carryforwards Expiration Dates
LossCarryforwardsExpirationDates
2028
CY2018Q4 soho Deferred Tax Asset Nondeductible Accrued Expenses
DeferredTaxAssetNondeductibleAccruedExpenses
700000
CY2017Q4 soho Deferred Tax Asset Nondeductible Accrued Expenses
DeferredTaxAssetNondeductibleAccruedExpenses
600000
CY2018 soho Tax Cuts And Jobs Act Of2017 Change In Tax Rate Deferred Tax Assets Provisional Income Tax Expense Benefit
TaxCutsAndJobsActOf2017ChangeInTaxRateDeferredTaxAssetsProvisionalIncomeTaxExpenseBenefit
2700000
CY2018 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
14145838
CY2017 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
14445865
CY2016 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
14896994
CY2018 us-gaap Weighted Average Number Of Shares Employee Stock Ownership Plan Shares Not Committed To Be Released
WeightedAverageNumberOfSharesEmployeeStockOwnershipPlanSharesNotCommittedToBeReleased
628350
CY2017 us-gaap Weighted Average Number Of Shares Employee Stock Ownership Plan Shares Not Committed To Be Released
WeightedAverageNumberOfSharesEmployeeStockOwnershipPlanSharesNotCommittedToBeReleased
616765
CY2018Q1 us-gaap Revenues
Revenues
41735556
CY2018Q2 us-gaap Revenues
Revenues
51553527
CY2018Q3 us-gaap Revenues
Revenues
41418062
CY2018Q4 us-gaap Revenues
Revenues
43465976
CY2018Q1 us-gaap Operating Expenses
OperatingExpenses
37041269
CY2018Q2 us-gaap Operating Expenses
OperatingExpenses
42275569
CY2018Q3 us-gaap Operating Expenses
OperatingExpenses
38298919
CY2018Q4 us-gaap Operating Expenses
OperatingExpenses
40451053
CY2018Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
4694287
CY2018Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
9277958
CY2018Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
3119143
CY2018Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
3014923
CY2018Q3 soho Net Income Loss Attributable To Operating Partnership Unit Holders
NetIncomeLossAttributableToOperatingPartnershipUnitHolders
-3451499
CY2018Q4 soho Net Income Loss Attributable To Operating Partnership Unit Holders
NetIncomeLossAttributableToOperatingPartnershipUnitHolders
-4240961
CY2018Q1 soho Earnings Per Share Basic And Diluted To Operating Partnership Unitholders
EarningsPerShareBasicAndDilutedToOperatingPartnershipUnitholders
-0.02
CY2017Q3 us-gaap Operating Expenses
OperatingExpenses
34595193
CY2017Q4 us-gaap Operating Expenses
OperatingExpenses
35339712
CY2017Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
5705704
CY2018Q2 soho Earnings Per Share Basic And Diluted To Operating Partnership Unitholders
EarningsPerShareBasicAndDilutedToOperatingPartnershipUnitholders
0.10
CY2018Q3 soho Earnings Per Share Basic And Diluted To Operating Partnership Unitholders
EarningsPerShareBasicAndDilutedToOperatingPartnershipUnitholders
-0.22
CY2018Q4 soho Earnings Per Share Basic And Diluted To Operating Partnership Unitholders
EarningsPerShareBasicAndDilutedToOperatingPartnershipUnitholders
-0.27
CY2017Q1 us-gaap Revenues
Revenues
38694886
CY2017Q2 us-gaap Revenues
Revenues
40642632
CY2017Q3 us-gaap Revenues
Revenues
36769471
CY2017Q4 us-gaap Revenues
Revenues
38159704
CY2017Q1 us-gaap Operating Expenses
OperatingExpenses
32989182
CY2017Q2 us-gaap Operating Expenses
OperatingExpenses
35178717
CY2017Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
5463915
CY2017Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
2174278
CY2017Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
2819992
CY2017Q1 us-gaap Profit Loss
ProfitLoss
2886032
CY2017Q2 us-gaap Profit Loss
ProfitLoss
1135719
CY2017Q3 us-gaap Profit Loss
ProfitLoss
-936000
CY2017Q4 us-gaap Profit Loss
ProfitLoss
-3056262
CY2017Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1851090
CY2017Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
296850
CY2017Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-1550555
CY2017Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-3936522
CY2017Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.13
CY2017Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.02
CY2017Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.11
CY2017Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.29
CY2017Q1 soho Net Income Loss Attributable To Operating Partnership Unit Holders
NetIncomeLossAttributableToOperatingPartnershipUnitHolders
2100958
CY2017Q2 soho Net Income Loss Attributable To Operating Partnership Unit Holders
NetIncomeLossAttributableToOperatingPartnershipUnitHolders
310795
CY2017Q3 soho Net Income Loss Attributable To Operating Partnership Unit Holders
NetIncomeLossAttributableToOperatingPartnershipUnitHolders
-1741000
CY2017Q4 soho Net Income Loss Attributable To Operating Partnership Unit Holders
NetIncomeLossAttributableToOperatingPartnershipUnitHolders
-4422903
CY2017Q1 soho Earnings Per Share Basic And Diluted To Operating Partnership Unitholders
EarningsPerShareBasicAndDilutedToOperatingPartnershipUnitholders
0.13
CY2017Q2 soho Earnings Per Share Basic And Diluted To Operating Partnership Unitholders
EarningsPerShareBasicAndDilutedToOperatingPartnershipUnitholders
0.02
CY2017Q3 soho Earnings Per Share Basic And Diluted To Operating Partnership Unitholders
EarningsPerShareBasicAndDilutedToOperatingPartnershipUnitholders
-0.11
CY2017Q4 soho Earnings Per Share Basic And Diluted To Operating Partnership Unitholders
EarningsPerShareBasicAndDilutedToOperatingPartnershipUnitholders
-0.27
CY2018Q4 srt Real Estate And Accumulated Depreciation Amount Of Encumbrances
RealEstateAndAccumulatedDepreciationAmountOfEncumbrances
367614000
CY2018Q4 us-gaap Real Estate And Accumulated Depreciation Initial Cost Of Land
RealEstateAndAccumulatedDepreciationInitialCostOfLand
58009000
CY2018Q4 us-gaap Real Estate And Accumulated Depreciation Initial Cost Of Buildings And Improvements
RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements
310336000
CY2018Q4 soho Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Land
RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionLand
6401000
CY2018Q4 soho Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Building And Improvements
RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionBuildingAndImprovements
114321000
CY2018Q4 us-gaap Real Estate And Accumulated Depreciation Carrying Amount Of Land
RealEstateAndAccumulatedDepreciationCarryingAmountOfLand
64410000
CY2018Q4 us-gaap Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements
RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements
424657000
CY2018Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
489067000
CY2018 soho Real Estate Accumulated Depreciation Impairment
RealEstateAccumulatedDepreciationImpairment
85655000
CY2018Q4 srt Real Estate Federal Income Tax Basis
RealEstateFederalIncomeTaxBasis
478500000
CY2016Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
402189000
CY2017 soho Real Estate Acquisitions
RealEstateAcquisitions
4516000
CY2017 us-gaap Real Estate Improvements
RealEstateImprovements
13713000
CY2017 us-gaap Real Estate Cost Of Real Estate Sold
RealEstateCostOfRealEstateSold
12381000
CY2017Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
408037000
CY2018 soho Real Estate Acquisitions
RealEstateAcquisitions
71037000
CY2018 us-gaap Real Estate Improvements
RealEstateImprovements
14355000
CY2018 us-gaap Real Estate Cost Of Real Estate Sold
RealEstateCostOfRealEstateSold
4362000
CY2016Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
68506000
CY2017 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
9933000
CY2017 us-gaap Real Estate Accumulated Depreciation Real Estate Sold
RealEstateAccumulatedDepreciationRealEstateSold
3328000
CY2017Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
75111000
CY2018 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
14787000
CY2018 us-gaap Real Estate Accumulated Depreciation Real Estate Sold
RealEstateAccumulatedDepreciationRealEstateSold
4243000
CY2018Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
85655000

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