Sotherly Hotels: Falls on bigger Q1 loss, lower revenue

Sotherly Hotels

24/06/2020 15:44

** Shares of real estate investment trust  SOHO.O  down
10.5% at $2.65
    ** SOHO Q1 revenue falls 21.5% to $37.2 mln compared with a
year earlier
    ** Q1 net loss attributable to common shareholders widens to
$14.3 mln from $1.7 mln from last year 
    ** Company suspends regular quarterly cash common stock
dividends in order to preserve liquidity  urn:newsml:reuters.com:*:nGNXqZF2h
    ** Says it's unable to provide forecast for 2020 due to
uncertainties related to the COVID-19 pandemic and its impact on
travel
    ** Sees initial signs of increased demand for hotel rooms in
recent weeks 
    ** SOHO down 56.3% so far this year

 (Reporting by Arunima Kumar in Bengaluru)
 ((Arunima.Kumar@thomsonreuters.com))