Net income increased 49% to $64 million for the quarter, and decreased 3% to $157 million for the full-year; adjusted net income increased 35% to $77 million for the quarter, and 17% to $317 million for the full-year.
System-wide comparable RevPAR decreased 1.0 percent and increased 0.8 percent on a currency neutral basis for the fourth quarter and full year, respectively, from the same periods in 2018
The Baird/STR Hotel Stock Index's January performance lagged behind the S&P 500 and MSCI US REIT Index.
Net revenues were $460.8 million for the fourth quarter of 2019, an increase of 6.8%, or $29.3 million, from $431.5 million for the same period of 2018. The increase in net revenues was primarily due to an increase in Las Vegas operations, led by an increase in net revenues at the Palms Casino Resort.
The Hotel Stock Index ended 2019 up 29.5%.
The Baird/STR Hotel Stock Index jumped 7.0% in November to 4,968. Year to date through the first 11 months of 2019, the index was up 22.1%.
The classic brand continues to expand profitably for its shareholders by focusing on hospitality.
Being a branded or franchised hotel is an expensive endeavor. Especially when you consider the average agreement is 20 years in duration and youre on the hook for the fees outlined in your agreement plus anything else the management company throws at you. When I say on the hook, I mean they can literally charge you for whatever they want as long as they determine it is in your best interest. T
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.