Temple Hotels Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2018
August 07, 2018 at 09:45 pm
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Temple Hotels Inc. reported earnings results for the second quarter and six months ended June 30, 2018. For the quarter, total revenue was CAD 43,094,000 against CAD 43,389,000 a year ago. Hotel operating income was CAD 12,142,000 against CAD 12,717,000 a year ago. Net loss was CAD 3,870,000 or CAD 0.15 per basic and diluted share against CAD 2,708,000 or CAD 0.11 per basic and diluted share a year ago. Cash flow provided by operating activities was CAD 1,647,000 against CAD 6,289,000 a year ago. Funds from operations were CAD 4,989,000 or CAD 0.20 per share against CAD 6,673,000 or CAD 0.26 per share a year ago.
For the six months, total revenue was CAD 80,305,000 against CAD 79,628,000 a year ago. Hotel operating income was CAD 19,689,000 against CAD 20,116,000 a year ago. Net loss was CAD 8,578,000 or CAD 0.34 per basic and diluted share against CAD 2,860,000 or CAD 0.11 per basic and diluted share a year ago. Cash flow provided by operating activities was CAD 3,274,000 against CAD 2,348,000 a year ago. Funds from operations were CAD 4,933,000 or CAD 0.20 per share against CAD 6,458,000 or CAD 0.25 per share a year ago.
Temple Hotels Inc. is a Canada-based company engaged in owning and operating hotel property investments in Canada. The Company's segments include Fort McMurray, Other Alberta and Other Canada. The Company invests, directly and indirectly, in hotel properties and assets. The primary business activity of the Company is the acquisition and development of hotel properties and the management of the acquired/developed properties. The hotel portfolio of the Company consists of over 30 hotel and investment properties, which are owned by the Company, comprising approximately 3,880 rooms. The hotel portfolio includes two extended-stay properties (Stanton Suites Hotel, Yellowknife and Clearwater Timberlea) and one investment property (Cortona Residence). It has equity interests in limited partnerships, which own hotels in London and Ottawa, Ontario. The Company offers food and beverages, spa, video lottery terminal and gift shop services.