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Sotherly Hotels Plans for the Future in Naming New CEO

REIT to Ring In New Year With Three Promoted to Senior Leadership Positions
Sotherly Hotels owns the hotel commercial condominium unit of the Hyde Resort & Residences in Hollywood, Florida. (CoStar)
Sotherly Hotels owns the hotel commercial condominium unit of the Hyde Resort & Residences in Hollywood, Florida. (CoStar)
By Madison Cromwell
CoStar Research
December 4, 2019 | 11:02 P.M.

Effective January 1, 2020, Sotherly Hotels Inc. will be under new management. The board of directors of the Williamsburg, Virginia-based hospitality trust approved a leadership succession plan that will see Dave Folsom, Southerly's president and COO, succeed the REIT's longtime CEO, Drew Sims.

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