Skyline Announces Operational Results for the Year Ended December 31, 2020
March 12, 2021 18:01 ET | Source: Skyline Investments Inc. Skyline Investments Inc. Toronto, Ontario, CANADA
2020 revenue from Skyline’s hotels and resorts was $91.5 million compared to $193.6 million in 2019, a decline of 53% due to the impact of COVID-19;
Skyline’s operating expenses from hotels and resorts also declined by 47%, including the effect of subsidies received in response to the pandemic;
2020 EBITDA remained positive at $7.9 million versus $40.8 million in 2019;
Unrestricted cash and available lines of credit as at December 31, 2020 totalled approximately $27 million;
Occupancy of all of the Company’s US hotels and Canadian resorts show a steady seasonally-adjusted improvement from their lows in April;
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Barrie, Ontario: Today, AGEMA Work, a leading provider of hospitality and services staff, announced that it has supplied over 18,000 work shift hours and contracted nearly 250 associates under the AGEMA Work umbrella since the start of the novel COVID-19 pandemic. Through a comprehensive vetting process, the company has provided many talented hospitality and services associates to numerous Ontario employers. Its efforts have reduced the strain placed on employers in non-urban areas who face problems caused by understaffing, with a particular focus on resorts, agriculture, construction and other areas in the hospitality and services industry.
Of the company s recent achievement, AGEMA Work Associate, Mirsada S. from Albania said, Agema Work embraces the skills of talented people, and gives us opportunities to learn and to grow, in our work. Agema Work, provides a very warm and welcoming team, that you would be happy to work alongside. They appreciate and