$SOHO
Sotherly Hotels Inc.

2021 Q1 Form 10-Q Financial Statement

#000156459021028449 Filed on May 17, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $22.64M $37.21M
YoY Change -39.17% -21.49%
Cost Of Revenue $18.43M $32.15M
YoY Change -42.66% -6.05%
Gross Profit $4.201M $5.059M
YoY Change -16.97% -61.59%
Gross Profit Margin 18.56% 13.6%
Selling, General & Admin $12.89M $18.06M
YoY Change -28.63% -5.3%
% of Gross Profit 306.85% 356.95%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.980M $4.980M
YoY Change 0.0% -17.41%
% of Gross Profit 118.55% 98.43%
Operating Expenses $24.72M $39.01M
YoY Change -36.64% -6.95%
Operating Profit -$2.082M -$1.804M
YoY Change 15.46% -133.01%
Interest Expense $5.920M $4.562M
YoY Change 29.76% -14.01%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$7.570M -$7.878M
YoY Change -3.91% 10834.46%
Income Tax $2.609K $5.454M
% Of Pretax Income
Net Earnings -$7.576M -$12.13M
YoY Change -37.57% 6521.77%
Net Earnings / Revenue -33.47% -32.61%
Basic Earnings Per Share -$0.62 -$1.01
Diluted Earnings Per Share -$470.6K -$851.2K
COMMON SHARES
Basic Shares Outstanding 14.62M 14.25M
Diluted Shares Outstanding

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $21.10M $14.70M
YoY Change 43.54% -49.31%
Cash & Equivalents $21.10M $22.08M
Short-Term Investments
Other Short-Term Assets $8.300M $7.600M
YoY Change 9.21% 33.33%
Inventory
Prepaid Expenses
Receivables $3.700M $4.500M
Other Receivables $0.00 $0.00
Total Short-Term Assets $33.10M $26.80M
YoY Change 23.51% -40.84%
LONG-TERM ASSETS
Property, Plant & Equipment $423.7M $440.6M
YoY Change -3.84% -0.16%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $11.90M $7.300M
YoY Change 63.01% -21.51%
Total Long-Term Assets $435.5M $448.0M
YoY Change -2.79% -0.55%
TOTAL ASSETS
Total Short-Term Assets $33.10M $26.80M
Total Long-Term Assets $435.5M $448.0M
Total Assets $468.6M $474.8M
YoY Change -1.31% -4.24%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $33.30M $22.70M
YoY Change 46.7% 14.07%
Accrued Expenses $6.500M $4.400M
YoY Change 47.73% 15.79%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $45.50M $33.40M
YoY Change 36.23% 13.22%
LONG-TERM LIABILITIES
Long-Term Debt $386.1M $357.3M
YoY Change 8.06% -7.84%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $386.1M $357.3M
YoY Change 8.06% -7.84%
TOTAL LIABILITIES
Total Short-Term Liabilities $45.50M $33.40M
Total Long-Term Liabilities $386.1M $357.3M
Total Liabilities $425.5M $390.7M
YoY Change 8.91% -6.35%
SHAREHOLDERS EQUITY
Retained Earnings -$90.13M
YoY Change
Common Stock $180.4M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $43.20M $86.28M
YoY Change
Total Liabilities & Shareholders Equity $468.6M $474.8M
YoY Change -1.3% -4.24%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income -$7.576M -$12.13M
YoY Change -37.57% 6521.77%
Depreciation, Depletion And Amortization $4.980M $4.980M
YoY Change 0.0% -17.41%
Cash From Operating Activities -$787.7K $1.520M
YoY Change -151.83% -72.62%
INVESTING ACTIVITIES
Capital Expenditures -$970.0K -$1.800M
YoY Change -46.11% -66.97%
Acquisitions
YoY Change
Other Investing Activities $0.00 $10.00K
YoY Change -100.0% -94.12%
Cash From Investing Activities -$973.0K -$1.784M
YoY Change -45.47% -66.26%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -559.0K -5.644M
YoY Change -90.1% 19.59%
NET CHANGE
Cash From Operating Activities -787.7K 1.520M
Cash From Investing Activities -973.0K -1.784M
Cash From Financing Activities -559.0K -5.644M
Net Change In Cash -2.320M -5.908M
YoY Change -60.74% 32.57%
FREE CASH FLOW
Cash From Operating Activities -$787.7K $1.520M
Capital Expenditures -$970.0K -$1.800M
Free Cash Flow $182.3K $3.320M
YoY Change -94.51% -69.82%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2020Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1880125
CY2020Q1 us-gaap Costs And Expenses
CostsAndExpenses
39011968
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
22635532
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
37208465
CY2021Q1 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
18434835
CY2020Q1 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
32148967
CY2020Q1 us-gaap Unrealized Gain Loss On Cash Flow Hedging Instruments
UnrealizedGainLossOnCashFlowHedgingInstruments
-1585632
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
-12134789
CY2020Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-7878171
CY2020Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-1197416
CY2020Q1 us-gaap Interest Expense
InterestExpense
4561840
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
14246216
CY2020Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
5454034
CY2020Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.01
CY2020Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
60365
CY2021Q1 us-gaap Change In Accounting Principle Accounting Standards Update Adopted
ChangeInAccountingPrincipleAccountingStandardsUpdateAdopted
true
CY2021Q1 us-gaap Accounting Standards Update Extensible List
AccountingStandardsUpdateExtensibleList
us-gaap:AccountingStandardsUpdate201602Member
CY2020Q1 us-gaap Profit Loss
ProfitLoss
-13332205
CY2021Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1300958
CY2021Q1 us-gaap Costs And Expenses
CostsAndExpenses
24717808
CY2021Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-2082276
CY2021Q1 us-gaap Interest Expense
InterestExpense
5919523
CY2021Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
38599
CY2021Q1 us-gaap Unrealized Gain Loss On Cash Flow Hedging Instruments
UnrealizedGainLossOnCashFlowHedgingInstruments
390185
CY2020Q1 soho Gain Loss Due To Involuntary Conversion Of Assets
GainLossDueToInvoluntaryConversionOfAssets
12439
CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
44201305
CY2021Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
400666
CY2021Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
44100
CY2021Q1 soho Adjustments To Additional Paid In Capital Amortization Of Esop Award
AdjustmentsToAdditionalPaidInCapitalAmortizationOfESOPAward
22086
CY2021Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
37110728
CY2019Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
101407171
CY2020Q1 us-gaap Profit Loss
ProfitLoss
-13332205
CY2020Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
14175
CY2020Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
94500
CY2020Q1 soho Adjustments To Additional Paid In Capital Amortization Of Esop Award
AdjustmentsToAdditionalPaidInCapitalAmortizationOfESOPAward
62635
CY2020Q1 soho Adjustments To Additional Paid In Capital Amortization Of Restricted Stock
AdjustmentsToAdditionalPaidInCapitalAmortizationOfRestrictedStock
18195
CY2020Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.13
CY2020Q1 us-gaap Dividends Common Stock
DividendsCommonStock
2013428
CY2020Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
84062133
CY2021Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
4982015
CY2020Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
4982876
CY2021Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
260135
CY2020Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
141391
CY2021Q1 us-gaap Mortgage Loans On Real Estate Amortization Of Premium
MortgageLoansOnRealEstateAmortizationOfPremium
6170
CY2020Q1 us-gaap Mortgage Loans On Real Estate Amortization Of Premium
MortgageLoansOnRealEstateAmortizationOfPremium
6170
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
14615720
CY2020Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-1803503
CY2021Q1 us-gaap Profit Loss
ProfitLoss
-7575624
CY2020Q1 soho Gain Loss Due To Involuntary Conversion Of Assets
GainLossDueToInvoluntaryConversionOfAssets
12439
CY2021Q1 us-gaap Unrealized Gain Loss On Cash Flow Hedging Instruments
UnrealizedGainLossOnCashFlowHedgingInstruments
390185
CY2020Q1 us-gaap Unrealized Gain Loss On Cash Flow Hedging Instruments
UnrealizedGainLossOnCashFlowHedgingInstruments
-1585632
CY2021Q1 us-gaap Share Based Compensation
ShareBasedCompensation
485047
CY2020Q1 us-gaap Share Based Compensation
ShareBasedCompensation
183386
CY2021Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1714241
CY2020Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-564141
CY2021Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
585106
CY2020Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1943351
CY2020Q1 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
-5412084
CY2021Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
4093143
CY2020Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
4823067
CY2021Q1 soho Increase Decrease In Advances Deposits
IncreaseDecreaseInAdvancesDeposits
-545564
CY2020Q1 soho Increase Decrease In Advances Deposits
IncreaseDecreaseInAdvancesDeposits
-715029
CY2021Q1 us-gaap Increase Decrease Due From Affiliates
IncreaseDecreaseDueFromAffiliates
-208828
CY2020Q1 us-gaap Increase Decrease Due From Affiliates
IncreaseDecreaseDueFromAffiliates
163630
CY2021Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-787722
CY2020Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1519753
CY2021Q1 us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
972958
CY2020Q1 us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
1796662
CY2020Q1 soho Proceeds From Involuntary Conversion
ProceedsFromInvoluntaryConversion
12439
CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-972958
CY2020Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1784223
CY2021Q1 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
530497
CY2020Q1 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
1370018
CY2021Q1 soho Payments Of Deferred Financing Costs
PaymentsOfDeferredFinancingCosts
28495
CY2020Q1 soho Payments Of Deferred Financing Costs
PaymentsOfDeferredFinancingCosts
84500
CY2020Q1 soho Payments Of Dividends Common Stock And Distribution Made To General And Limited Partner Cash Distributions Paid
PaymentsOfDividendsCommonStockAndDistributionMadeToGeneralAndLimitedPartnerCashDistributionsPaid
2000418
CY2020Q1 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
2188910
CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-558992
CY2020Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-5643846
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-2319672
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-5908316
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
35300546
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
27984236
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
32980874
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
22075920
CY2021Q1 us-gaap Interest Paid Net
InterestPaidNet
2943722
CY2020Q1 us-gaap Interest Paid Net
InterestPaidNet
3681239
CY2020Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
3845
CY2021Q1 soho Increase Decrease In Capital Expenditures Incurred But Not Yet Paid
IncreaseDecreaseInCapitalExpendituresIncurredButNotYetPaid
320004
CY2020Q1 soho Increase Decrease In Capital Expenditures Incurred But Not Yet Paid
IncreaseDecreaseInCapitalExpendituresIncurredButNotYetPaid
518733
CY2020Q1 soho Partners Capital Account Distributions Per Unit
PartnersCapitalAccountDistributionsPerUnit
0.13
CY2021Q1 dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2004-08-20
CY2020Q3 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
12
CY2020Q3 soho Number Of Rooms In Hotel
NumberOfRoomsInHotel
3156
CY2021Q1 soho Date Of Commencement Of Business
DateOfCommencementOfBusiness
2004-12-21
CY2021Q1 us-gaap Number Of Businesses Acquired
NumberOfBusinessesAcquired
6
CY2021Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
21100000
CY2021Q1 us-gaap Restricted Cash
RestrictedCash
11900000
CY2021Q1 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0
CY2021Q1 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<span style="font-style:normal;"> – We hold cash accounts at several institutions in excess of the Federal Deposit Insurance Corporation (the “FDIC”) 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. 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>
CY2021Q1 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000
CY2020Q4 soho Un Amortized Franchise Fees
UnAmortizedFranchiseFees
353872
CY2021Q1 us-gaap Derivative Fixed Interest Rate
DerivativeFixedInterestRate
0.05237
CY2021Q1 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
842900
CY2021Q1 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
1039282
CY2021Q1 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
1042517
CY2021Q1 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
1050255
CY2021Q1 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
1058563
CY2021Q1 soho Lessor Operating Lease Payments To Be Received In Year Five And After
LessorOperatingLeasePaymentsToBeReceivedInYearFiveAndAfter
7133042
CY2021Q1 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
12166559
CY2021Q1 us-gaap Change In Accounting Principle Accounting Standards Update Adoption Date
ChangeInAccountingPrincipleAccountingStandardsUpdateAdoptionDate
2019-01-01
CY2021Q1 soho Minimum Percentage Of Likelihood Of Realization Of Deferred Tax Assets
MinimumPercentageOfLikelihoodOfRealizationOfDeferredTaxAssets
0.50
CY2021Q1 soho Deferred Tax Assets Valuation Allowance Percent
DeferredTaxAssetsValuationAllowancePercent
1
CY2021Q1 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0
CY2020Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0
CY2021Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2020Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2021Q1 us-gaap Advertising Expense
AdvertisingExpense
320766
CY2020Q1 us-gaap Advertising Expense
AdvertisingExpense
500296
CY2021Q1 soho Gain Loss Due To Involuntary Conversion Of Assets
GainLossDueToInvoluntaryConversionOfAssets
0
CY2020Q1 soho Gain Loss Due To Involuntary Conversion Of Assets
GainLossDueToInvoluntaryConversionOfAssets
12439
CY2021Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2021Q1 us-gaap Use Of Estimates
UseOfEstimates
Use of Estimates<span style="font-style:normal;"> – 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>
CY2021Q1 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
570647379
CY2020Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
569944891
CY2021Q1 soho Real Estate Investment Property Accumulated Depreciation And Impairment
RealEstateInvestmentPropertyAccumulatedDepreciationAndImpairment
146966521
CY2020Q4 soho Real Estate Investment Property Accumulated Depreciation And Impairment
RealEstateInvestmentPropertyAccumulatedDepreciationAndImpairment
142120306
CY2021Q1 soho Real Estate Investment Property Excluding Held For Sale Net
RealEstateInvestmentPropertyExcludingHeldForSaleNet
423680858
CY2020Q4 soho Real Estate Investment Property Excluding Held For Sale Net
RealEstateInvestmentPropertyExcludingHeldForSaleNet
427824585
CY2021Q1 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0
CY2020 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0
CY2021Q1 us-gaap Mortgage Loans On Real Estate
MortgageLoansOnRealEstate
356500000
CY2020Q4 us-gaap Mortgage Loans On Real Estate
MortgageLoansOnRealEstate
357500000
CY2021Q1 us-gaap Secured Debt
SecuredDebt
358424144
CY2020Q4 us-gaap Secured Debt
SecuredDebt
359551870
CY2021Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
1998280
CY2020Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
2122822
CY2021Q1 us-gaap Debt Instrument Unamortized Premium
DebtInstrumentUnamortizedPremium
110759
CY2020Q4 us-gaap Debt Instrument Unamortized Premium
DebtInstrumentUnamortizedPremium
116929
CY2021Q1 us-gaap Long Term Debt
LongTermDebt
356536623
CY2020Q4 us-gaap Long Term Debt
LongTermDebt
357545977
CY2021Q1 soho Mortgage Forbearance Agreements And Or Loan Modification Agreements Completed Number Of Loan
MortgageForbearanceAgreementsAndOrLoanModificationAgreementsCompletedNumberOfLoan
11
CY2021Q1 soho Mortgage Forbearance Agreements And Or Loan Modification Agreements Number Of Loans
MortgageForbearanceAgreementsAndOrLoanModificationAgreementsNumberOfLoans
12
CY2021Q1 us-gaap Cash Collateral For Borrowed Securities
CashCollateralForBorrowedSecurities
1900000
CY2021Q1 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
13511647
CY2021Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
42087366
CY2021Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
60575964
CY2021Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
37218158
CY2021Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
93250734
CY2021Q1 soho Long Term Debt Maturities Repayments Of Principal After Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFour
111780275
CY2021Q1 us-gaap Secured Debt
SecuredDebt
358424144
CY2021Q1 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
454803
CY2021Q1 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
683693
CY2021Q1 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
671883
CY2021Q1 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
663585
CY2021Q1 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
668651
CY2021Q1 soho Finance Lease Liability Payments Due After Year Four
FinanceLeaseLiabilityPaymentsDueAfterYearFour
14758987
CY2021Q1 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
17901602
CY2016Q4 soho Employee Stock Ownership Plan Esop Maximum Borrowing Amount To Purchase Common Stock
EmployeeStockOwnershipPlanESOPMaximumBorrowingAmountToPurchaseCommonStock
5000000.0
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
CY2021Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
11000000
CY2020Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
11000000
CY2021Q1 us-gaap Preferred Stock Liquidation Preference
PreferredStockLiquidationPreference
25.00
CY2020Q4 us-gaap Preferred Stock Liquidation Preference
PreferredStockLiquidationPreference
25.00
CY2021Q1 soho Preferred Stock Amount Of Undeclared And Cumulative Preferred Dividends
PreferredStockAmountOfUndeclaredAndCumulativePreferredDividends
8800000
CY2021Q1 soho Declared Unpaid Preferred Stock Dividends Amount
DeclaredUnpaidPreferredStockDividendsAmount
2200000
CY2021Q1 soho Preferred Units Amount Of Undeclared And Cumulative Preferred Dividends
PreferredUnitsAmountOfUndeclaredAndCumulativePreferredDividends
8800000
CY2021Q1 soho Declared Unpaid Preferred Units Dividends Amount
DeclaredUnpaidPreferredUnitsDividendsAmount
2200000
CY2021Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
69000000
CY2021Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2021Q1 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.
CY2021Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
15175231
CY2020Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
15023850
CY2021Q1 soho Common Stock Exchange Ratio
CommonStockExchangeRatio
1
us-gaap Partners Capital Account Units Redeemed
PartnersCapitalAccountUnitsRedeemed
0
CY2021Q1 soho Operating Partnership Common Unit Not Owned
OperatingPartnershipCommonUnitNotOwned
1166401
CY2020Q4 soho Operating Partnership Common Unit Not Owned
OperatingPartnershipCommonUnitNotOwned
1166501
CY2021Q1 soho Unpaid Common Dividends And Distributions Amount To Holders
UnpaidCommonDividendsAndDistributionsAmountToHolders
2088161
CY2021Q1 soho Percentage Of Matching Contribution For First Specified Percentage Of Employee Contribution
PercentageOfMatchingContributionForFirstSpecifiedPercentageOfEmployeeContribution
1.000
CY2021Q1 soho Percentage Of First Specified Percentage Of Employee Contribution
PercentageOfFirstSpecifiedPercentageOfEmployeeContribution
0.030
CY2021Q1 soho Percentage Of Matching Contribution For Next Specified Percentage Of Employee Contribution
PercentageOfMatchingContributionForNextSpecifiedPercentageOfEmployeeContribution
0.500
CY2021Q1 soho Percentage Of Next Specified Percentage Of Employee Contribution
PercentageOfNextSpecifiedPercentageOfEmployeeContribution
0.020
CY2021Q1 soho Effective Date Of Ceased Matching Employer Contribution
EffectiveDateOfCeasedMatchingEmployerContribution
2020-05-16
CY2021Q1 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
0
CY2020Q1 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
32853
CY2016Q4 soho Employee Stock Ownership Plan Esop Maximum Borrowing Amount To Purchase Common Stock
EmployeeStockOwnershipPlanESOPMaximumBorrowingAmountToPurchaseCommonStock
5000000.0
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
CY2021Q1 soho Employee Stock Ownership Plan Esop Number Of Allocated And Committed To Be Released Shares
EmployeeStockOwnershipPlanESOPNumberOfAllocatedAndCommittedToBeReleasedShares
178251
CY2021Q1 soho Employee Stock Ownership Plan Esop Allocated And Committed To Be Released From Suspense Account Shares Fair Value
EmployeeStockOwnershipPlanESOPAllocatedAndCommittedToBeReleasedFromSuspenseAccountSharesFairValue
620313
CY2021Q1 soho Employee Stock Ownership Plan Recognized To Compensation Cost
EmployeeStockOwnershipPlanRecognizedToCompensationCost
22086
CY2020Q1 soho Employee Stock Ownership Plan Recognized To Compensation Cost
EmployeeStockOwnershipPlanRecognizedToCompensationCost
56516
CY2021Q1 us-gaap Employee Stock Ownership Plan Esop Number Of Suspense Shares
EmployeeStockOwnershipPlanESOPNumberOfSuspenseShares
501237
CY2021Q1 us-gaap Employee Stock Ownership Plan Esop Deferred Shares Fair Value
EmployeeStockOwnershipPlanESOPDeferredSharesFairValue
1744305
CY2021Q1 us-gaap Employee Stock Ownership Plan Esop Number Of Allocated Shares
EmployeeStockOwnershipPlanESOPNumberOfAllocatedShares
170419
CY2021Q1 us-gaap Employee Stock Ownership Plan Esop Number Of Committed To Be Released Shares
EmployeeStockOwnershipPlanESOPNumberOfCommittedToBeReleasedShares
7832
CY2021Q1 us-gaap Employee Stock Ownership Plan Esop Number Of Suspense Shares
EmployeeStockOwnershipPlanESOPNumberOfSuspenseShares
501237
CY2021Q1 us-gaap Employee Stock Ownership Plan Esop Number Of Allocated Shares
EmployeeStockOwnershipPlanESOPNumberOfAllocatedShares
170419
CY2021Q1 soho Employee Stock Ownership Plan Esop Allocated Shares Fair Value
EmployeeStockOwnershipPlanESOPAllocatedSharesFairValue
593058
CY2020Q4 us-gaap Employee Stock Ownership Plan Esop Number Of Allocated Shares
EmployeeStockOwnershipPlanESOPNumberOfAllocatedShares
170419
CY2020Q4 soho Employee Stock Ownership Plan Esop Allocated Shares Fair Value
EmployeeStockOwnershipPlanESOPAllocatedSharesFairValue
426048
CY2021Q1 us-gaap Employee Stock Ownership Plan Esop Number Of Committed To Be Released Shares
EmployeeStockOwnershipPlanESOPNumberOfCommittedToBeReleasedShares
7832
CY2021Q1 soho Employee Stock Ownership Plan Esop Shares Committed To Be Released Fair Value
EmployeeStockOwnershipPlanESOPSharesCommittedToBeReleasedFairValue
27255
CY2021Q1 soho Employee Stock Ownership Plan Esop Number Of Allocated Shares And Committed To Be Released Shares
EmployeeStockOwnershipPlanESOPNumberOfAllocatedSharesAndCommittedToBeReleasedShares
178251
CY2021Q1 soho Employee Stock Ownership Plan Esop Allocated Shares And Committed To Be Released Fair Value
EmployeeStockOwnershipPlanESOPAllocatedSharesAndCommittedToBeReleasedFairValue
620313
CY2020Q4 soho Employee Stock Ownership Plan Esop Number Of Allocated Shares And Committed To Be Released Shares
EmployeeStockOwnershipPlanESOPNumberOfAllocatedSharesAndCommittedToBeReleasedShares
170419
CY2020Q4 soho Employee Stock Ownership Plan Esop Allocated Shares And Committed To Be Released Fair Value
EmployeeStockOwnershipPlanESOPAllocatedSharesAndCommittedToBeReleasedFairValue
426048
CY2021Q1 us-gaap Employee Stock Ownership Plan Esop Number Of Suspense Shares
EmployeeStockOwnershipPlanESOPNumberOfSuspenseShares
501237
CY2021Q1 us-gaap Employee Stock Ownership Plan Esop Deferred Shares Fair Value
EmployeeStockOwnershipPlanESOPDeferredSharesFairValue
1744305
CY2020Q4 us-gaap Employee Stock Ownership Plan Esop Number Of Suspense Shares
EmployeeStockOwnershipPlanESOPNumberOfSuspenseShares
509069
CY2021Q1 us-gaap Employee Stock Ownership Plan Esop Shares In Esop
EmployeeStockOwnershipPlanESOPSharesInESOP
679488
CY2021Q1 soho Employee Stock Ownership Plan Esop Shares Fair Value
EmployeeStockOwnershipPlanESOPSharesFairValue
2364618
CY2020Q4 us-gaap Employee Stock Ownership Plan Esop Shares In Esop
EmployeeStockOwnershipPlanESOPSharesInESOP
679488
CY2020Q4 soho Employee Stock Ownership Plan Esop Shares Fair Value
EmployeeStockOwnershipPlanESOPSharesFairValue
1698720
CY2021Q1 soho Indirect Hotels Operating Costs
IndirectHotelsOperatingCosts
11589077
CY2020Q1 soho Indirect Hotels Operating Costs
IndirectHotelsOperatingCosts
16181841
CY2021Q1 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
2609
CY2020Q1 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
41950
CY2021Q1 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
2609
CY2020Q1 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
41950
CY2020Q1 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
14813533
CY2021Q1 us-gaap Weighted Average Number Of Shares Employee Stock Ownership Plan Shares Not Committed To Be Released
WeightedAverageNumberOfSharesEmployeeStockOwnershipPlanSharesNotCommittedToBeReleased
502324
CY2020Q1 us-gaap Weighted Average Number Of Shares Employee Stock Ownership Plan Shares Not Committed To Be Released
WeightedAverageNumberOfSharesEmployeeStockOwnershipPlanSharesNotCommittedToBeReleased
567317
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
14615720
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
14246216
CY2021Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.62
CY2021Q1 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-1609051
CY2020Q1 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-1396079
CY2021Q1 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-320081
CY2020Q1 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-233328
CY2021Q1 us-gaap Deferred Federal State And Local Tax Expense Benefit
DeferredFederalStateAndLocalTaxExpenseBenefit
-1929132
CY2020Q1 us-gaap Deferred Federal State And Local Tax Expense Benefit
DeferredFederalStateAndLocalTaxExpenseBenefit
-1629407
CY2021Q1 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
-1929132
CY2020Q1 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
-7041491
CY2020Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
5412084
CY2021Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2609
CY2020Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
5454034
CY2021Q1 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-1590047
CY2020Q1 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-1653922
CY2020Q1 soho Income Tax Reconciliation Tax Exempt Income Expense
IncomeTaxReconciliationTaxExemptIncomeExpense
-7299334
CY2021Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2609
CY2020Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
5454034
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-9064995
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-14323699
CY2021Q1 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
15118044
CY2020Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.01

Files In Submission

Name View Source Status
0001564590-21-028449-index-headers.html Edgar Link pending
0001564590-21-028449-index.html Edgar Link pending
0001564590-21-028449.txt Edgar Link pending
0001564590-21-028449-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R54.htm Edgar Link pending
R55.htm Edgar Link pending
R56.htm Edgar Link pending
R57.htm Edgar Link pending
R58.htm Edgar Link pending
R59.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
soho-10q_20210331.htm Edgar Link pending
soho-10q_20210331_htm.xml Edgar Link completed
soho-20210331.xsd Edgar Link pending
soho-20210331_cal.xml Edgar Link unprocessable
soho-20210331_def.xml Edgar Link unprocessable
soho-20210331_lab.xml Edgar Link unprocessable
soho-20210331_pre.xml Edgar Link unprocessable
soho-ex311_12.htm Edgar Link pending
soho-ex312_11.htm Edgar Link pending
soho-ex313_9.htm Edgar Link pending
soho-ex314_10.htm Edgar Link pending
soho-ex321_6.htm Edgar Link pending
soho-ex322_7.htm Edgar Link pending
soho-ex323_8.htm Edgar Link pending
soho-ex324_13.htm Edgar Link pending