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Hersha Hospitality Trust Announces First Quarter 2020 Results
Hersha Hospitality Trust | May 7, 2020
- Implements Aggressive Cost Containment Strategies - - Amends Bank Credit Facility to Access Additional $100 Million - - Obtains Full Financial Covenant Waiver through March 31, 2021 - PHILADELPHIA, May 07, 2020 -- Hersha Hospitality Trust (NYSE: HT) (“Hersha,” “Company,” “we” or “our”), owner of high-quality upscale and lifestyle hotels in urban gateway markets and resort destinations, today announced results for the first quarter ended March 31, 2020. First Quarter 2020 Financial Results Net loss applicable to common shareholders was approximately ($29.1 million), or ($0.76) per diluted common share, in the first quart
Ryman Hospitality Properties, Inc. Reports First Quarter 2020 Results
Ryman Hospitality Properties, Inc. | May 7, 2020
NASHVILLE, Tenn., May 07, 2020 -- Ryman Hospitality Properties, Inc. (NYSE: RHP), a lodging real estate investment trust (“REIT”) specializing in group-oriented, destination hotel assets in urban and resort markets, today reported financial results for the first quarter ended March 31, 2020. First Quarter 2020 Results (as compared to First Quarter 2019): Hospitality RevPAR decreased 20.6% and Hospitality Total RevPAR decreased 16.3% Consolidated Net Income Available to Common Shareholders declined 258.2% to a loss of $46.5 million including approximately $33 million in non-cash charges Consolidated Adjusted EBITDAre de
Wynn Resorts, Limited Reports First Quarter 2020 Results
May 7, 2020
LAS VEGAS--May 7, 2020--Wynn Resorts, Limited (NASDAQ: WYNN) (the "Company") today reported financial results for the quarter ended March 31, 2020. Operating revenues were $953.7 million for the first quarter of 2020, a decrease of 42.3%, or $697.8 million, from $1.65 billion for the first quarter of 2019. Net loss attributable to Wynn Resorts, Limited was $402.0 million, or $3.77 per diluted share, for the first quarter of 2020, compared to net income attributable to Wynn Resorts, Limited of $104.9 million, or $0.98 per diluted share, in the first quarter of 2019. Adjusted Property EBITDA (1) was $(5.3) million for the first quarter of 20
Hyatt Reports First-Quarter 2020 Results
Hyatt | May 7, 2020
RevPAR Decline of 28% Due to COVID-19 Pandemic; Net Rooms Growth of Over 6% CHICAGO (May 7, 2020) - Hyatt Hotels Corporation ("Hyatt" or the "Company") (NYSE: H) today reported first-quarter 2020 financial results. Net loss attributable to Hyatt was $103 million, or $1.02 per diluted share, in the first quarter of 2020, compared to net income attributable to Hyatt of $63 million, or $0.59 per diluted share, in the first quarter of 2019. Adjusted net loss attributable to Hyatt was $35 million, or $0.35 per diluted share, in the first quarter of 2020, compared to Adjusted net income attributable to Hyatt of $48 million, or $0.45 per diluted
Hilton Reports First Quarter 2020 Results
Hilton | May 7, 2020
MCLEAN, Va. - Hilton Worldwide Holdings Inc. ("Hilton" or the "Company") (NYSE: HLT) today reported its first quarter 2020 results. The following results reflect the material impact that the novel coronavirus ("COVID-19") pandemic had on Hilton's business, the effects of which were not significant until March 2020. Highlights include: Diluted EPS was $0.06 for the first quarter, and diluted EPS, adjusted for special items, was $0.74 Net income was $18 million for the first quarter Adjusted EBITDA was $363 million for the first quarter System-wide comparable RevPAR decreased 22.6 percent on a currency neutral basis for the first
IHG – First Quarter Trading Update to 31 March 2020
IHG | May 7, 2020
Highlights Group Q1 comparable RevPAR1 down 24.9%; March down 55%; April expected to be down around 80% ~15% (~1,000 hotels) of the estate closed as at the end of April; ~10% (~440 hotels) in the Americas, ~50% (~560 hotels) in EMEAA and ~2% (10 hotels) in Greater China Occupancy levels in comparable open hotels in the low-to-mid 20% range 4.6% YoY net system size growth to 882k rooms 6k rooms opened, including 1k in March Signed 14k rooms (104 hotels) in the quarter, including 4k in March, taking the pipeline to 288k rooms Delivering on our cost reduction and cash conservation actions across the System Fund and Fee Bus
STR: Canada Hotel Results for Week Ending 2 May
STR | May 7, 2020
HENDERSONVILLE, Tennessee—Showing further COVID-19 impact, the Canadian hotel industry recorded steep year-over-year declines in the three key performance metrics during the week of 26 April through 2 May 2020, according to data from STR. In comparison with the week of 28 April through 4 May 2019, the industry reported the following: Occupancy: -75.8% to 16.6% Average daily rate (ADR): -37.5% to CAD101.69 Revenue per available room (RevPAR): -84.9% to CAD16.91 Among the provinces and territories, Newfoundland and Labrador experienced the largest decline in occupancy (-87.8% to 6.8%). British Columbia posted the steepest
ProfitSword Joins Special Edition of In Clear Focus Podcast to Provide Insight on How COVID-19 Is Transforming the Business Intelligence Landscape
ProfitSword, LLC | May 7, 2020
Leading provider of business intelligence technology for the hospitality and senior living industries offers guidance over how the pandemic has affected strategic business planning abilities for both markets and how industry professionals can best adapt moving forward. ORLANDO, Fla. – (May 7, 2020) – ProfitSword, the leading developer of business intelligence and data integration software for the hospitality and senior living industries, has announced its taking part in a special edition of the “In Clear Focus” Podcast with the goal of providing industry professionals with the latest expert insight over how the COVID-19 pandemic ha