Red Roof, a leading lodging brand, continues its growth trajectory with the opening of its 700th hotel in Jamaica, NY and a new extended-stay property in Tampa, FL. These new additions highlight the brand’s commitment to providing quality, affordable accommodations for budget-conscious travelers.
Sotherly Hotels, a lodging REIT, reported stable revenue growth in the second quarter of 2024, with total revenue reaching $50.7 million. While net income and adjusted FFO showed positive momentum, the company observed a slight softening in ADR, particularly in Florida markets. Despite these fluctuations, Sotherly Hotels remains cautiously optimistic for the rest of the year.
Choice Hotels International, Inc., a global leader in lodging franchising, has announced a dividend of $0.2875 per share on its common stock. This dividend, approved by the company’s board of directors, will be paid on July 16, 2024, to shareholders recorded as of July 1, 2024. This move demonstrates Choice Hotels’ commitment to delivering value to its shareholders while maintaining its leadership position in the hospitality industry.
