Generating Positive Adjusted Property EBITDA in Macao and Singapore – Pandemic-Related Travel Restrictions and Reduced Visitation Continue to Impact Financial Results
64% Decline in RevPar vs. Q1 2019
The Baird/STR Hotel Stock Index dipped 0.2% in March to a level of 5,131. Year to date through the first three months of 2021, the stock index was up 12.2%.
Full Year 2020 Portfolio Revenue Per Available Room (RevPAR): The 15 hotels Same-Store RevPAR in 2020 decreased 48.3% to $50.98 compared to 2019. Same-Store Average Daily Rate (ADR) decreased 20.9% to $99.00 and Same-Store Occupancy decreased 34.7% to 51.49% in 2020 compared to the same period in 2019.
Revenues for the fourth quarter decreased 48.2% to $39.4 million (Q4 2019 $76.1 million), as a result of lower demand levels resulting from the ongoing impact of COVID-19 and from portfolio changes between periods.
The Baird/STR Hotel Stock Index jumped 22.4% in February to a level of 5,141. Year to date through the first two months of 2021, the stock index was up 12.4%.
“A challenging year” is how Trip.com Group has described its 2020, as the China-based travel giant reported annual revenues of $2.8 billion – down 49% on 2019.
Full Year Highlights – Total revenue of $473.1 million – Pro forma RevPAR decrease of (66.8%) – Net loss of ($408.8) million
Airbnb co-founder and CEO Brian Chesky says he believes the COVID-19 pandemic has shown that his business is 'inherently adaptable' as the home-share giant reports financial results for the first time since its IPO in December.
Adjusted EBITDAre decreased 92.2 percent to $14.4 million from $185.3 million in the same period of 2019.