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American Hotel Income Properties REIT Q2 decreased 69.7%

Christian Fernsby ▼ | August 10, 2020
American Hotel Income Properties REIT LP announced its financial results for the three months ended June 30, 2020.
American Hotel Income Properties REIT
American Hotel Income Properties REIT   Revenues for the quarter decreased to $27.3 million
Revenues for the quarter decreased 69.7% to $27.3 million (Q2 2019 $90.0 million) as a result of lower demand due to the significant impact of coronavirus and portfolio changes between periods.

Topics: American Hotel Income Properties

Average Daily Rate ("ADR") decreased 4.3% compared to Q2 2019, to $95.13 (Q2 2019 $99.39).

Occupancy during the second quarter decreased 43.6 percentage points to 34.7% (Q2 2019 78.3%). Average occupancy in April was 21.8%, when the worst impacts from coroavirus were experienced. Average occupancy in May improved to 33.3%. Average occupancy in June improved to 49.0%.

Revenue per Available Room ("RevPAR") decreased 57.6% compared to the same quarter last year, to $33.01 (Q2 2019 $77.82).


 

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