Operating revenues were $725.8 million for the first quarter of 2021, a decrease of 23.9%, or $227.9 million, from $953.7 million for the first quarter of 2020.
First quarter 2021 comparable systemwide constant dollar RevPAR declined 46.3 percent worldwide, 46.3 percent in the U.S. & Canada, and 46.1 percent in international markets, compared to the 2020 first quarter
The company's performance has continued the trend of sequential domestic systemwide RevPAR change improvement, with April 2021 RevPAR declining approximately 4.2% versus April 2019 and increasing 140% from April 2020.
Net loss for the quarter ended March 31, 2021 was $195.0 million, or $1.19 per diluted common share, compared to a net loss of $33.7 million, or $0.20 per diluted common share, for the quarter ended March 31, 2020.
The Baird/STR Hotel Stock Index rose 3.2% in April to a level of 5,297. Year to date through the first four months of 2021, the stock index was up 15.8%.
Owned Resort EBITDA decreased 89.2% versus 2020 to $6.5 million. Adjusted EBITDA decreased 105.0% versus 2020 to $(2.5) million.
Occupancy, ADR and RevPAR for the Companys portfolio sequentially improved each month during the first quarter of 2021, driven by a wide variety of demand generators including leisure, government, health care, construction, disaster recovery, insurance, athletics, education, and local and regional business-related travel.
Improvement in demand within the first quarter, led by the Americas and Greater China. – Group RevPAR down 50.6% vs 2019 (down 33.7% vs 2020); continued industry outperformance in key markets. – RevPAR reflects a 23%pts reduction in occupancy, with rate sustained at ~80% of 2019 levels.
Total portfolio generated positive Hotel EBITDA each month during the first quarter – Monthly cash burn below low end of guidance – Open hotel occupancy of 46.4%
The Indian Hotels Company Limited (IHCL), South Asias largest hospitality company, reported its consolidated and standalone financials for the fourth quarter ending March 31st, 2021 and the full year FY 2020-21.