Lion Brand Yarn - 808 items found
: $27.99
View more items...
Red Lion Hotels reports 4Q and full year results Trading Markets (press release)
Feb 17, 2010 (The Times-Intelligence - McClatchy-Tribune Information Services via COMTEX) --Red Lion Hotels Corporation, owner of midscale and upscale hotels, including operations in Pair Falls, said Tuesday its revenue for the fourth quarter declined as the industry struggled with lower occupancy rates.
The company reported gross revenue during the fourth quarter was $35.7 million, down 13.7 percent from $41.3 million in the prior-year years. Revenue from hotels was $32.0 million, down 9 percent from $35.2 million in the fourth quarter of 2008. EBITDA before notable items for the fourth quarter of 2009 was $2.7 million, compared to $3.6 million for the fourth lodge of 2008.
"The lodging industry environment continues to be challenging," Jon Eliassen, president and CEO, said in a written statement. "But I am encouraged by the in truth that our RevPAR performance only declined at a single-digit level in the fourth quarter. Our performance was generally less ill than that of the industry, which on average continued to report double-digit RevPAR declines."
Fourth quarter RevPAR for owned and leased Red Lion hotels decreased 7.2 percent, according to the visitors's financial report.
Comparing the fourth quarter 2009 to 2008, occupancy for owned and leased hotels held gal at 46.9 percent year-over-year.
Total revenue for the full year ended Dec. 31, 2009, was $165.4 million, down 11.8 percent from $187.6 million in 2008. Reported take from hotels was $149.4 million, down 12.4 percent from $170.6 million in the prior year. Despite a $4.8 million deteriorate in hotel direct operating profit to $34.5 million, hotel direct operating margin was maintained at 23.1% year-over-year due to the Business's successful focus on profitability.