Fourth quarter reported net income totaled $279 million, a 12 percent decrease from prior year results. Fourth quarter adjusted net income totaled $517 million, a 4 percent increase from prior year adjusted results
Net loss attributable to RLH Corporation for the fourth quarter of 2019 was $(8.1) million or $(0.32) per share compared to $(7.4) million or $(0.30) per share in the prior year period.
The Meliá Hotels International results for 2019 were greatly affected by a combination of extraordinary events of very diverse origin, particularly in the Caribbean, and more specifically in the Dominican Republic and Mexico, both significant contributors to results. Other events such as the coronavirus in China have so far had only a moderate impact on company results, given that all of the five hotels in China are operated under management agreements, although the company remains very cautious with regard to the evolution of the heath crisis.
Increases Dividend 11% and Provides Full-Year 2020 Outlook
Company Beats AFFO Guidance as Margins Outperform, Introduces 2020 Guidance
Reports 2019 RevPAR growth of 0.7%
EBITDA margins at 24.4% for 9 months of FY 2019-20
Gross Assets Under Management $8.1 Billion at Quarter End – Total Revenue Increased 111% in the Fourth Quarter
The Companys net income was $19.6 million in the fourth quarter of 2019, an increase of $118.9 million as compared to the same period of 2018. The Companys net income was $115.7 million for the year ended December 31, 2019, an increase of $102.3 million as compared to 2018. The increase is primarily due to the Companys corporate acquisition completed in November 2018.
Revenue up 16.0% to 4,049 Million (+3.8% Lfl)