TSX:HOT.DB.V - Post by User
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BudFox198777777on Nov 08, 2022 6:06pm
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Post# 35083688
2022 THIRD QUARTER HIGHLIGHTS
2022 THIRD QUARTER HIGHLIGHTS
- Revenue increased 11.3% to $76.2 million in the third quarter of 2022 compared to $68.4 million in the same period of 2021.
- A 33.0% increase in RevPAR (1) for the Embassy Suites sub-portfolio, compared to the same period in 2021.
- Diluted FFO per unit (1) was $0.13 for the third quarter of 2022, compared to normalized diluted FFO per unit (1) of $0.16 for the same period of 2021.
- ADR increased to $127, compared to $125 in the second quarter of 2022, and $118 in the same period of 2021.
- Occupancy (1) was 72.1% in the current quarter, compared to 72.8% in the second quarter of 2022, and 68.8% in the same period of 2021.
- Debt to gross book value (1) decreased to 52.6% as at September 30, 2022, compared to 54.1% as at December 31, 2021.
- Weighted average interest rate for all term loans and credit facility was 4.34% as at September 30, 2022, a reduction of 18 bps compared to 4.52% as at December 31, 2021.
- Paid monthly distributions of $0.015 U.S. dollar per unit in each month since March 2022.
- Cash flow from operating activities was $14.2 million for the third quarter of 2022, an increase of $4.5 million compared to the same period of 2021.
- Net and comprehensive income was $0.3 million for the third quarter of 2022, a decrease of $15.4 million compared to the same period of 2021, primarily due to a non-recurring gain of $14.7 million in the third quarter of 2021.