Highlights
-- Resort Reported EBITDA, which includes our Mountain and Lodging
segments, for the first quarter improved from the prior year by $0.8
million, or 2.0%, due in part to the favorable impact of cost savings
initiatives implemented subsequent to the prior year first quarter.
-- Total revenue and Real Estate Reported EBITDA declined and net loss was
greater for the first quarter compared to the prior year due to the
timing of real estate project closings.
-- Net Debt leverage ratio of 2.4 times trailing twelve months Total
Reported EBITDA and no revolver borrowings under the Company's $400
million senior credit facility as of October 31, 2009.
-- Season pass sales to date, including the Epic Season Pass, up
approximately 11% in units and approximately 9% in sales dollars
compared to the same time period in the prior year.
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Tuesday, December 8, 2009
Pyramid Hotels & Resorts files for $275 mln IPO
NEW YORK, Dec 7 (Reuters) - Luxury hotelier Pyramid Hotels & Resorts Inc on Monday filed for an initial public offering that it hopes will raise $275 million.
The Massachusetts-based company, which acquires and invests in luxury and top-end hotels, currently manages 52 hotels including nine spas and 18 golf courses in the United States, according to a filing with the U.S. Securities and Exchange Commission.
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The Massachusetts-based company, which acquires and invests in luxury and top-end hotels, currently manages 52 hotels including nine spas and 18 golf courses in the United States, according to a filing with the U.S. Securities and Exchange Commission.
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Pubs close in Scotland over licensing chaos
A deadline of 1 December was set for venues to submit names and details of new premises managers. If Licensing Boards’ records showed this had not been done, licences were automatically revoked.
A spokesman for Aberdeen City Council said: “Twenty one premises have yet to advise licensing of the name and details of their premises managers.
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A spokesman for Aberdeen City Council said: “Twenty one premises have yet to advise licensing of the name and details of their premises managers.
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Carluccio’s reports fall in profits but says consumer confidence is rising
Italian restaurant group Carluccio's today revealed full-year profits had fallen, but said there have been signs of improved consumer confidence in recent weeks.
Adjusted pre-tax profits for the 12 months to 27 September fell to £4.7m from £5.6m last year as costs rose, partly due to a weak exchange rate and higher utility costs. Turnover was up to £69m from £64.1m as expansion continued.
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Adjusted pre-tax profits for the 12 months to 27 September fell to £4.7m from £5.6m last year as costs rose, partly due to a weak exchange rate and higher utility costs. Turnover was up to £69m from £64.1m as expansion continued.
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