Skyline Announces Continued Improvement in Operational Results for Q2 2021 leaderpost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from leaderpost.com Daily Mail and Mail on Sunday newspapers.
North Americaâs Upscale Resorts Enjoying a Post-pandemic Boom
May 25, 2021
The staff at one of the tourist information centers in the Pocono Mountains region in Pennsylvania have not been this busy for a long time now. The phone seems to be ringing off the hook, with vacationers looking for recommendations regarding attractions, restaurants and lodging opportunities. “We haven’t had such a busy May here for quite a while,” told us Matt from the center. “We knew people would be ecstatic after this rough COVID-19 year, but we didn’t know it would be this crazy.”
The tourism and hospitality sector has had an indisputably bumpy ride in the past year. With international travel being limited, and with restrictions and lockdowns affecting domestic tourism, it was unclear for many in the business how they would survive this rough period. Nowadays, though, it seems for those hotel companies that were strong enough to make it through the pandemic, there’s
All amounts in millions of Canadian dollars unless otherwise stated
Total revenue for Q1 2021 was $31.1, compared to $71.7 in Q1 2020. Revenue from hotels and resorts decreased by 32% to $28.2 due to timing of the impact of COVID-19, which did not have a material impact during the prior year quarter until the second half of March. During Q1 2021, local government restrictions impacted ski operations during the first half of the quarter, however both of the Company’s ski resorts experienced strong demand upon reopening. Revenue from the sale of residential real estate was $2.9 during Q1 2021, compared to $30.1 during Q1 2020, when the Company completed the sale of phases 2 and 3 of the Second Nature development project located near Blue Mountain.
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;
LARGO â Pinellas County commissioners unanimously approved one resolution and two ordinance amendments Feb. 23 that address code enforcement liens as well as demolitions and condemnations.
The resolution allows Code Enforcement to partially forgive existing liens on residential and commercial property to make sure compliance efforts donât result in excessive amounts that hinder property owners from making improvements and prevent reinvestment opportunities.
The county has more than 500 properties with lien amounts that exceed the value of the property, according to Blake Lyon, director of Building & Development Review Services. The value of those liens is about $300 million. The plan is to reduce lien amounts that too costly for property owners to address either physically or financially.