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Stock impact report

Sotherly Hotels Inc. Enters Into Master Agreement

Sotherly Hotels Inc. (SOHO) 
Last sotherly hotels inc. earnings: 2/27 06:30 am Check Earnings Report
US:NASDAQ Investor Relations: investors.sotherlyhotels.com
Company Research Source: GlobeNewswire
WILLIAMSBURG, Va., Sept. 09, 2019 (GLOBE NEWSWIRE) -- Sotherly Hotels Inc. (NASDAQ: SOHO) (the “Company”) today announced that the Company has entered into a master agreement with Newport Hospitality Group, Inc. (“NHG”) and Our Town Hospitality LLC (“Our Town”) for the management of ten of the Company’s hotels, effective January 1, 2020. Pursuant to the master agreement, Our Town, a newly formed wholly-owned subsidiary of NHG, will be headquartered in Williamsburg, Virginia and dedicated solely to the management of the Company’s hotels. Our Town will be governed by a board of directors which will include two directors selected by the Company. For additional details please reference the Company’s Form 8-K filed this morning with the Securities and Exchange Commission. Dave Folsom, President and Chief Operating Officer of the Company, commented, “With the management contracts for the majority of our portfolio expiring at year-end, we set out to identify a partner that could develop Show less Read more
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