Occupancy at the Companys open hotels and resorts increased from 19.3 percent in January to 34.8 percent by March, and RevPAR grew from $43 in January to $65 in February and to $85 in March, roughly doubling from January
Global RevPAR declined 11% compared to first quarter 2020 and 31% compared to first quarter 2019 in constant currency.
Net sales decreased by 72 percent to 930 MSEK (3,343). Average occupancy dropped to 17.5 percent during the quarter. Levels of activity were particularly low in the larger cities.
The Company reported a preliminary estimated range of net loss attributable to common stockholders of approximately $(11.7) million to $(10.7) million or $(0.29) to $(0.27) per share, a preliminary estimated range of Adjusted EBITDAre of $16.1 million to $17.1 million.
Generating Positive Adjusted Property EBITDA in Macao and Singapore – Pandemic-Related Travel Restrictions and Reduced Visitation Continue to Impact Financial Results
64% Decline in RevPar vs. Q1 2019
The Baird/STR Hotel Stock Index dipped 0.2% in March to a level of 5,131. Year to date through the first three months of 2021, the stock index was up 12.2%.
Full Year 2020 Portfolio Revenue Per Available Room (RevPAR): The 15 hotels Same-Store RevPAR in 2020 decreased 48.3% to $50.98 compared to 2019. Same-Store Average Daily Rate (ADR) decreased 20.9% to $99.00 and Same-Store Occupancy decreased 34.7% to 51.49% in 2020 compared to the same period in 2019.
Revenues for the fourth quarter decreased 48.2% to $39.4 million (Q4 2019 $76.1 million), as a result of lower demand levels resulting from the ongoing impact of COVID-19 and from portfolio changes between periods.
The Baird/STR Hotel Stock Index jumped 22.4% in February to a level of 5,141. Year to date through the first two months of 2021, the stock index was up 12.4%.