Corp. Travel Rebound Boosts SVC Q1 RevPAR | Business Travel News
Revenue per available room for real estate investment trust Services Properties Trust’s hotels in March recovered to 25.7 percent below 2019 levels, compared with 37.3 percent in January, the company announced Wednesday. Also known by its “SVC” Nasdaq symbol, the company holds a 34 percent stake in Sonesta International Hotels Corp. “We expect to benefit further from a rebound in business travel in the coming quarters, particularly at our full-service hotels as urban centers continue to reopen,” SVC president and CIO Todd Hargreaves said in a statement. The company had a first-quarter net loss of about $119.8 million, compared with a net loss of about $195 million over the comparable period in 2021.
Stay connected with us on social media platform for instant update click here to join our Twitter, & Facebook
We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.
For all the latest Education News Click Here
For the latest news and updates, follow us on Google News.