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Message : Required fields Service Properties Trust (Nasdaq: SVC) today announced its financial results for the quarter ended March 31, 2021. John Murray, President and Chief Executive Officer of SVC, made the following statement: “The first quarter marked a continued period of transition for SVC’s hotel portfolio. We converted an additional 88 hotels to Sonesta brands and management during the first quarter, following the conversion of 112 hotels during the fourth quarter of 2020. We expect disruption to our operating results from these transitions to be short-term in nature and believe that the rebranding will benefit SVC by creating more flexibility with respect to capital investments, possibly repurposing hotels to other uses, or sales. SVC also benefits from its 34% ownership of Sonesta. ....
Quarantine requirement boosts occupancy of hotels 04 May 2021 - 9:35 Sachin Kumar | The Peninsula The mandatory hotel quarantine requirement for those coming to Qatar has improved the occupancy rate in hospitality sector. During the fourth quarter more people resumed travelling as due to fall in COVID-19 restrictions that resulted in easing of restrictions. According to the Planning and Statistics Authority, the average hotel occupancy in 5 star hotel for fourth quarter of 2020 was around 49 percent while in Q4 Average Daily Rates (ADRs) and Revenue per Available Room were QR537 and QR263, respectively, noted a report released by Al-Asmakh Real Estate Development. “Mandatory hotel quarantine upon return to Qatar for nationals and residents has slightly boosted the overall occupancy compared to previous quarter,” said Qatar Real Estate Q4, 2020 report released yesterday. ....
NexPoint Hospitality Trust Announces Fiscal Year 2020 Financial Results News provided by Share this article DALLAS and TORONTO, April 30, 2021 /PRNewswire/ NexPoint Hospitality Trust, ( NHT 1), (TSX-V: NHT.U) announced today the release of NHT s financial results for the twelve months ended December 31, 2020. All amounts are expressed in U.S. dollars. Results for the twelve months ended December 31, 2020 For the twelve months ended December 31, 2020, NHT reported Net Loss, FFO 2, Core FFO 2 of $(112.4) million, $(17.6) million, $(16.8) million and $(16.7) million, respectively, attributable to Unitholders. For the twelve months ended December 31, 2020, the portfolio averaged occupancy of 41.8%, Average Daily Rate ( ADR ) of $110.14 and Revenue per Available Room of $47.16. ....
MGM Resorts International Reports First Quarter 2021 Financial And Operating Results - Best quarterly operating results in Las Vegas since reopening - U.S. Regionals achieved record 1Q Adjusted Property EBITDAR and Adjusted Property EBITDAR margins - BetMGM delivered market share gains in the growing U.S. sports betting and iGaming market News provided by Share this article Share this article LAS VEGAS, April 28, 2021 /PRNewswire/ MGM Resorts International (NYSE: MGM) ( MGM Resorts or the Company ) today reported financial results for the quarter ended March 31, 2021. We are pleased with the meaningful progress we ve made on multiple fronts this quarter, said Bill Hornbuckle, Chief Executive Officer and President of MGM Resorts International. Consumer demand strengthened at our domestic properties, and the significant changes we ve made to our operating model have positioned us to capitalize on the recovery. Our regional properties achieved ....
The COVID-19 vaccination rate is climbing steadily in the U.S. At its current rate, three in four people, or 75% of eligible residents, will be vaccinated by June. Businesses are reopening. The U.S. economy is now operating at 88% of its pre-pandemic level, with hope for continuous improvement. Advertisements People want to travel again. In mid-March, Disneyland announced it would reopen on April 30. Now, all reopening day reservations for both single-park and park-hopper tickets are sold out already. On April 2, the Friday before Easter, TSA screened over 1.58 million people at airport checkpoints, the highest number since March 12, 2020. By comparison, TSA only screened 129,763 people (about 8.2% of 1.58 million) on April 2, 2020. ....