Luxury hotel operator Four Seasons Hotels Inc., which recently agreed to be taken private, on Monday said it swung to a fourth-quarter profit due to increased revenue per available room.
Analysts surveyed by Thomson Financial were expecting earnings of 28 cents per share.
Quarterly revenue gained 19 percent to $69.8 million from $58.5 million. Analysts had estimated revenue at $66.8 million.
Revenue per available room, also known as revPAR, grew 13.9 percent at worldwide core hotels and rose 8.4 percent at U.S. core hotels during the quarter.
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Source - AP
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