financial reporting
Caesars Entertainment Posts Surprise Quarterly Loss, Misses Wall Street Estimates
October 30, 2024
(Reuters) - Caesars Entertainment posted a surprise third-quarter loss on Tuesday, missing market expectations, as sales were hurt by new competition and construction-related disruptions in regional markets, sending its shares down 4% after the bell. Quarterly loss per share came in at 4 cents, compared to Wall Street expectations of a profit of 12 cents, according to data compiled by LSEG. Caesars' bottom-line in the U.S. regional market has faced increased pressure due to new entrants and expanded offerings from existing competitors. In the past, the casino operator flagged high competition in Indianapolis from Churchill's Terre Ha...
USALI 12th Revised Edition, Deep Dive: Highlights of Major Changes, Increased Transparency
HFTP | May 20, 2024
In the very near future, the lodging industry will have a brand-new edition of the Uniform System of Accounts for the Lodging Industry (USALI) — the 12th Revised Edition. This latest release has been meticulously updated with guiding principles to enhance transparency in reporting, broaden data sets to better inform decision-making, and align with contemporary practices. The revisions were written by the Global Finance Committee (GFC), a joint forum sponsored by Hospitality Finance and Technology Professionals (HFTP®) and the American Hotel and Lodging Association (AHLA). Members of the GFC consist of representatives from ownershi...
When Business Strategy Rhymes With Financial Reporting Complexity
Dr Cédric Poretti | May 19, 2023
An insightful exploration into how certain business strategies can enhance the flexibility of companies while simultaneously increasing their financial reporting complexity. The COVID-19 pandemic and the recent invasion of Ukraine are two prime examples of unanticipated shocks that have placed intense strain on companies’ financials. These events generated uncertainty and highlighted the importance of managing risks and being flexible. Financial flexibility can be achieved through retaining adequate cash reserves to handle any unforeseen obligation or constraint, or adopting a cost structure that allows the firm to withstand a sudden dec...
Hospitality Financial Leadership – Why GMs Have Such a Hard Time Managing Their Financial Leader
David Lund | February 6, 2023
By David Lund This is not the case for all GMs, but it is definitely the case for many. The reason is simple: the GM has not been given any formal accounting training and they are intimidated by the numbers and their lack of knowledge. Because of this they tend to stay out of the way, so to speak, when it comes to digging into what is really going on with the numbers and the accounting department. That might seem like a natural thing to do, and it needs to be this way to a certain extent. But with a few clues and cues the GM can have a great handle on the numbers person and what they are up to. That is what this piece is all about...
Choice Hotels International Reports 2022 Third Quarter Results
Choice Hotels | November 7, 2022
ROCKVILLE, Md., Nov. 7, 2022 -- Choice Hotels International, Inc. (NYSE: CHH), one of the world's largest lodging franchisors, reported its results today for the three months ended September 30, 2022. "Our third quarter results and the acquisition of the Radisson Hotels Americas business are a significant leap forward in the evolution of both Choice Hotels' competitive position and future growth potential. For 11 consecutive quarters, our RevPAR growth has outperformed the hotel industry, confirming that our strategy of focusing our investments and growth on RevPAR accretive hotel segments and locations is working. Our future growth is...
Marriott International Reports Third Quarter 2020 Results
Marriott International, Inc. | November 9, 2020
Third quarter 2020 comparable systemwide constant dollar RevPAR declined 65.9 percent worldwide, 65.4 percent in North America and 67.4 percent outside North America, compared to the 2019 third quarter; Third quarter reported diluted EPS totaled $0.31, compared to reported diluted EPS of $1.16 in the year-ago quarter. Third quarter adjusted diluted EPS totaled $0.06, compared to third quarter 2019 adjusted diluted EPS of $1.47. Third quarter 2020 impairment charges related to COVID-19 impacted reported and adjusted diluted EPS by $0.07; Third quarter reported net income totaled $100 million, compared to reported net income of $387 ...
RLJ Lodging Trust Reports Third Quarter 2020 Results
RLJ Lodging Trust | November 5, 2020
- Portfolio generated positive gross operating profit and open hotels generated positive EBITDA - Reduced monthly cash burn estimate - Maintain total liquidity of $1.2 billion BETHESDA, Md.--November 5, 2020--RLJ Lodging Trust (the “Company”) (NYSE: RLJ) today reported results for the three and nine months ended September 30, 2020, and is providing a hotel reopening and cash burn update in light of the ongoing COVID-19 pandemic. Highlights 96 hotels now open, representing 93% of the portfolio Total portfolio achieved 29.3% occupancy and open hotels achieved 37.1% occupancy during the third quarter Reducing monthly cash bu...
Ryman Hospitality Properties, Inc. Reports Third Quarter 2020 Results
Ryman Hospitality Properties, Inc. | November 4, 2020
NASHVILLE, Tenn., Nov. 04, 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 third quarter ended September 30, 2020. Third Quarter 2020 Highlights: Third quarter 2020 gross advanced room night bookings of approximately 669,000 room nights for all future periods, of which approximately 158,000 or 24% were unrelated to rebooking efforts Year to date through September 30, 2020 rebooked room nights of approximately 1.01 million room...
