Same-Property RevPAR: Same-Property RevPAR increased 1.3% compared to the second quarter of 2018 to $181.09, as a result of a 63 basis point increase in occupancy and a 0.5% increase in ADR.
Net income increased 10.6% to $86 million. Adjusted EBITDA decreased 2.1% to $213 million, a decrease of 1.0% in constant currency.
Net Income – Declined $4.0 million to $9.5 million, compared to the 2018 second quarter, driven by the loss on the sale of two hotels of $3.3 million. Net income per diluted share was $0.20 versus $0.29 for the same period a year earlier.
MGM COTAI Continues Its Ramp MGM China Adjusted EBITDA Grew 33% Year-on-Year
Exceeds Net Income and Adjusted EBITDA Expectations
Net sales rose by 2.2% to 4,853 MSEK (4,748), while organic growth was 0.8%. For comparable units, net sales fell by 1.6% due to negative calendar effects, as the Easter holiday fell in April this year. The underlying growth was positive excluding the calendar effects.
Total Revenues were $804.9 million, a 13.6% increase compared to the same quarter in 2018, due mainly to an increase in the number of Installed Room Nights at the Chain level and to ADR growth.
Year to date, the Baird/STR Hotel Stock Index is up 21.3%
Year to date, the Baird/STR Hotel Stock Index is up 14.1%.
Total revenues increased 20.1% from the first quarter of 2018 to RMB235.3 million (US$35.1 million) for the first quarter of 2019.