EBITDA
MGM Resorts International Reports Record Fourth Quarter and Full Year 2023 Results
MGM Resorts International | February 19, 2024
Las Vegas Strip Resorts achieved record full year and fourth quarter net revenue and Adjusted Property EBITDAR MGM China achieved record full year and fourth quarter Adjusted Property EBITDAR $2.3 billion in share repurchases in 2023 and $629 million during the quarter MGM Resorts senior secured credit facility expanded to $2.3 billion, providing increased liquidity LAS VEGAS, Feb. 19, 2024 -- MGM Resorts International (NYSE: MGM) ("MGM Resorts" or the "Company") today reported financial results for the quarter and year ended December 31, 2023. "Our Las Vegas Strip Resorts and MGM China set new all-time records for full ye...
Wyndham Hotels & Resorts Reports Strong Fourth Quarter Results With Record Openings, Retention and System Growth
Wyndham Hotels & Resorts | February 19, 2024
Increases Quarterly Dividend by 9% Reiterates Full-Year 2024 Outlook PARSIPPANY, N.J., Feb. 19, 2024 -- Wyndham Hotels & Resorts (NYSE: WH) today announced results for the three months and year ended December 31, 2023. Highlights include: • System-wide rooms grew organically by 3.5% year-over-year, a record high. • Opened a record 66,000 organic rooms, representing a year-over-year increase of 3%. • Global retention rate - including all terminations - improved another 30 basis points to a record 95.6%. • Development pipeline grew 1% sequentially and by 10% year-over-year to a record 240,000 rooms. • Grew ECHO Suites p...
Agilysys Fiscal 2023 Third Quarter Revenue Rises 26.5% to Record $49.9M
Agilysys | January 25, 2023
Includes Recurring Revenue of $30.2M and Subscription Revenue Growth of 28.8% Quarter Positive Adjusted EBITDA of $8.1M and GAAP EPS of $0.13 Per Share Raises Fiscal 2023 Annual Revenue Guidance to $195M to $198M; Reiterates Greater Than 15% Adjusted EBITDA ALPHARETTA, GA – January 25, 2023 - Agilysys, Inc. (NASDAQ: AGYS), a leading global provider of hospitality software solutions that deliver High Return Hospitality, today reported operating results for its fiscal 2023 third quarter and period ended December 31, 2022. Summary of Fiscal 2023 Third Quarter Financial Results • Total net revenue increased 26.5% to a record $49.9 m...
Hotel Revenue Management Best Practice, Shifting From Revenue Management to Profit Management
Ahmed Mahmoud | August 11, 2022
By Ahmed Mahmoud Good revenue management defines a property's bottom line. ... A profit management strategy determines a property's net revenue, Revenue management in hotels is a practice that has evolved significantly in its relatively short history, demonstrated great success using inventory, capacity and pricing to ‘manage’ revenue and probability, although hotel revenue management doesn’t evolve fast, strategies aimed at improving it develop in tandem with modern business and technological trends. What is the Revenue and Profit Management Role? Revenue management revolves around measurement of what customers from different ...
Quantifying the Franchise Relationship During COVID-19
Robert Mandelbaum | August 8, 2022
By Robert Mandelbaum In 2020, the average hotel in CBRE’s annual Trends® in the Hotel Industry survey experienced a 108 percent decline in earnings before interest, taxes, depreciation and amortization (EBITDA), resulting in an EBITDA margin of -5.5 percent. For hotels, EBITDA represents the cash flows from operations that are used to fund debt service and provide returns to investors. This is by far the greatest decline in EBITDA since CBRE began tracking the performance of the U.S. lodging industry in the 1930s. Facing such traumatic declines in profitability and insolvency, hotel owners reached out to their lenders, investors...
Agilysys Fiscal 2022 Fourth Quarter Revenue Rises 28.1% to Record $46.6M
Agilysys | May 18, 2022
Expects Fiscal 2022 Record Revenue of $162.6M to Grow to $190M to $195M in Fiscal 2023 Alpharetta, GA – May 18, 2022 - Agilysys, Inc. (NASDAQ: AGYS), a global provider of next-generation hospitality software solutions and services, today reported operating results for its fiscal 2022 fourth quarter and period ended March 31, 2022. Summary of Fiscal 2022 Fourth Quarter Financial Results Total net revenue was $46.6 million, compared to total net revenue of $36.3 million and $39.7 million in the fourth quarters of fiscal 2021 and 2020, respectively. Recurring revenue (which is comprised of support, maintenance and subscrip...
Agilysys Reports Fiscal 2021 Fourth Quarter Revenue of $36.3M
Agilysys | May 19, 2021
Reports Record Recurring Revenue of $22.9M and Adjusted EBITDA of $7.1M and Quarterly Free Cash Flow of $13.0M and Cash Balance Increase of $6.6M to $99.2M Announces Fiscal 2022 Revenue Guidance of $160M to $170M with Adjusted EBITDA of 15% Alpharetta, GA – May 19, 2021 - Agilysys, Inc. (Nasdaq: AGYS), a leading global provider of next-generation cloud-native SaaS and on-premise hospitality software solutions and services, today reported operating results for its fiscal 2021 fourth quarter and fiscal year ended March 31, 2021. Summary of Fiscal 2021 Fourth Quarter Financial Results • Total net revenue was $36.3 million, compared...
Wyndham Hotels & Resorts Reports Second Quarter 2020 Results
Wyndham Hotels & Resorts | July 29, 2020
PARSIPPANY, N.J., July 28, 2020 - Wyndham Hotels & Resorts (NYSE: WH) today announced results for the three months ended June 30, 2020. Highlights include: Diluted loss per share was $1.86, and adjusted diluted earnings per share was $0.10. Net loss was $174 million for the second quarter and adjusted net income was $9 million. Adjusted EBITDA was $63 million. System-wide rooms remained flat year-over-year. Global comparable RevPAR declined 54% year-over-year. Paid quarterly cash dividend of $0.08 per share. "We generated positive adjusted EBITDA in the second quarter, driven by our drive-to and le...
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