Food cost is a never-ending battle in a war that does not end. You can never take your foot off the gas, if you do you will slow down. When you slow down in the food cost world it is costly. Back in the day I cut my teeth as a receiver, F&B cost control clerk and ultimately an F&B cost controller.
The Company reported a net loss attributable to RLH Corporation of $3.5 million or $(0.14) per share in the third quarter as compared to net income attributable to RLH Corporation of $8.9 million or $0.35 per diluted share in the prior year period. The year-over-year change was primarily related to the loss of revenue from sale of the Company Operated hotels as well as the associated gain of $26.0 million in the 2018 period.
Meliá Hotels Reports Q3 2019 Results
Park Comparable RevPAR was $183.51, an increase of 1.9% from the same period in 2018; Park Comparable RevPAR increased 2.6% from the same period in 2018, excluding Florida renovation displacement and disruption from Hurricane Dorian;
Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) for the third quarter were $111.0 million, an increase of 7% from the same period of 2018.
Net income decreased 63.4% to $33.5 million. Excluding the effect of the four hotels sold during the third and fourth quarters of 2018, net income would have decreased 12.0%.
Third quarter reported net income totaled $387 million, a 23 percent decrease from prior year results. Third quarter adjusted net income totaled $488 million, an 18 percent decrease from prior year adjusted results
Adjusted EBITDA decreased 7.3% to $163 million, a decrease of 6.5% in constant currency.
Consolidated net revenues increased 9% compared to the prior year quarter to $3.3 billion
ame-Property RevPAR was $164.25, an increase of 2.5% compared to the third quarter of 2018, as a result of a 140 basis point increase in occupancy and a 0.6% increase in ADR.