国语两人做人爱费视频BETHESDA, MD—Condor Hospitality Trust Inc. has revealed its results for the fourth quarter ended December 31, 2019.
“For the fiscal year 2019, our portfolio outperformed the upscale and upper-midscale chain scales with 0.1% RevPAR growth compared to (0.5)% for upscale and (0.2)% for upper-midscale as reported by Smith Travel Research,” said Bill Blackham, Condor’s CEO. “Our proforma same-store RevPAR for the fourth quarter 2019 excluding the Home2 Tallahassee increased 0.3% as compared to (0.6)% for upscale and (1.0)% for upper-midscale, as reported by Smith Travel Research while unadjusted same-store RevPAR declined 2.9% for the fourth quarter. In addition to the market conditions in Tallahassee and San Antonio, the portfolio during the quarter experienced ongoing operational disruptions caused by management company changes at seven of our hotels. In the fiscal year 2019 Same-Store Hotel EBITDA was approximately 2.0% lower than 2018 at $26.3 million compared to $26.8 million, and our margins, while declining for the year, did so moderately reducing 60 bps from 37.7% in 2018 to 37.1% in 2019.
国语两人做人爱费视频“The outbreak of the novel coronavirus has reduced travel and adversely affected the hospitality industry in general,” he added. “The extent to which our business may be affected by the coronavirus will largely depend on future developments which we cannot accurately predict, and its impact on customer travel, including the duration of the outbreak, the continued spread and treatment of the coronavirus.”
Fourth Quarter and Fiscal Year 2019 Financial Highlights:
- Revenue of $61.1 million in fiscal year 2019 including $0.3 million from legacy hotels, which decreased 6.2% from $65.1 million of revenue in fiscal year 2018 (this included $4.4 million from legacy hotels)
- Revenue in the fourth quarter 2019 of $14.3 million generated entirely from new investment platform hotels, a 3.6% decrease from $14.8 million generated by new investment platform hotels in the $15.1 million fourth quarter 2018 revenue
- Same-Store ADR increased 1.3% in Fiscal Year 2019 compared to Fiscal Year 2018 while Same- Store RevPAR increased 0.1% over this same time period in the previous year
- Net Earnings (Loss) Attributable to Common Shareholders of ($2.0 million), or ($0.17) per Diluted Share in the fourth quarter, compared to ($1.1 million), or ($0.10) per share, in the 2018 fourth quarter. Decline in Net Earnings Attributable to Common Shareholders primarily caused by $0.1 million increase in general and administrative costs for the fourth quarter, $0.2 million in equity transaction and strategic alternatives costs incurred in the fourth quarter 2019, and $0.3 million increase in income tax expense for the quarter
- Adjusted Funds from Operations for the fourth quarter 2019 was $1.8 million, or $0.15 per Diluted Share, a $0.5 million decrease from $2.3 million, or $0.20, in the 2018 fourth quarter.
- Hotel EBITDA decreased to $26.2 million from $27.6 million, a 5.3% decrease over last fiscal year; the current fiscal year included $0.1 million from legacy hotels compared to $1.1 million from legacy hotels in the last fiscal year
At December 31, 2019, the company’s total portfolio included 15 hotels, representing 1,908 rooms. The company’s last remaining legacy asset was sold during the first quarter of 2019.