Quarterly ResultMay 11, 2026, 03:36 PM
Procaccianti Hotel REIT Q1 Net Loss $(1.86)M; Revenue $5.11M
AI Summary
Procaccianti Hotel REIT reported a significant increase in net loss and a decrease in total revenues for the three months ended March 31, 2026, compared to the same period in 2025. The net loss attributable to common stockholders widened to $(1.86) million, while total revenues fell to $5.11 million. The company's operating loss also substantially increased, reflecting challenging market conditions for its portfolio of five select-service hotels.
Key Highlights
- Net loss attributable to common stockholders increased to $(1,859,901) in Q1 2026 from $(1,186,320) in Q1 2025, a 56.8% increase.
- Total revenues decreased by 12.6% to $5,111,943 in Q1 2026 from $5,846,974 in Q1 2025.
- Operating loss widened to $(724,397) in Q1 2026 from $(197,174) in Q1 2025.
- Net loss per Class K common share was $(0.31) in Q1 2026, compared to $(0.19) in Q1 2025.
- Total assets decreased to $102,254,584 as of March 31, 2026, from $104,500,986 as of December 31, 2025.
- Cash and restricted cash at period end decreased to $9,723,110 from $10,862,958 at the beginning of the period.
- The company owns interests in five select-service hotels with a total of 559 rooms as of March 31, 2026.