First Quarter 2021 Results
Ryman Hospitality Properties, Inc. Reports First Quarter 2021 Results
Ryman Hospitality Properties | May 14, 2021
NASHVILLE, Tenn. - May 14, 2021 - 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, 2021. First Quarter 2021 Highlights and Recent Developments: Through the end of first quarter 2021, rebooked 1.6 million room nights, or approximately 60% of total room nights cancelled as a result of COVID-19 Average monthly cash burn for the first quarter of 2021 was approximately $17.9 million, better than the expected range of $23-26 millio...
Sunstone Hotel Investors Reports First Quarter 2021 Results
Sunstone Hotel Investors, Inc. | May 14, 2021
IRVINE, CA – May 14, 2021 – Sunstone Hotel Investors, Inc. (the “Company” or “Sunstone”) (NYSE: SHO), the owner of Long-Term Relevant Real Estate® in the hospitality sector, today announced results for the first quarter ended March 31, 2021. First Quarter 2021 Operational Results (as compared to First Quarter 2020): Resumption of Hotel Operations: 15 of the Company’s 17 hotels were in operation for the entirety of the first quarter 2021. Net Loss: Net loss was $55.3 million as compared to $162.5 million. 17 Hotel Portfolio RevPAR: 17 Hotel Portfolio RevPAR decreased 69.5% to $42.19. Adjusted EBITDAre: Adjusted ...
Summit Hotel Properties Reports First Quarter 2021 Results
Summit Hotel Properties | May 14, 2021
AUSTIN, Texas - May 14, 2021 - Summit Hotel Properties, Inc., has announced results for the first quarter ended March 31, 2021. "Hotel demand, particularly leisure demand, improved significantly during the latter part of the first quarter driving March RevPAR to a new high of more than $65 since the onset of the pandemic, which exceeded February's previous high by nearly 30%," said Jonathan P. Stanner, the Company's President and Chief Executive Officer. "We also completed the contribution of six hotels to our existing joint venture with GIC for $172 million subsequent to quarter end which generated net proceeds of $83 million. The trans...
