Receive our newsletter – data, insights and analysis delivered to you
  1. Market Data
November 27, 2011

Temple REIT reports decline in Q3 operating income

Temple Real Estate Investment Trust (REIT) reported a 4% fall in operating income for the third quarter of 2011 compared with the same period in 2010.

Temple Real Estate Investment Trust (REIT) reported a 4% fall in operating income for the third quarter of 2011 compared with the same period in 2010.

The company’s operating income for the year-to-date (YTD) 2011 rose by 16%, compared with the same period in 2010.

Temple REIT’s income for Q3 2011 increased by $480,000, or 104%, and for the YTD by $3.97m, or 425%, compared with the previous year’s figures.

The net income for Q3 2011 increased by $1.8m, or 262%, compared with Q3 2010, while the net income for the YTD rose by $3.59m, compared with a net loss of $1.27m for the same period last year.

Temple REIT’s room revenue for the quarter increased by $680,000, or 6%, compared with Q3 2010, although the company’s Capri Centre hotel in Alberta, Canada, recorded a drop in occupancy and operating income due to the removal of rooms from the market for renovation.

Content from our partners
Untapped: How Turks and Caicos is primed for tourism investment
Untapped: How Turks and Caicos is primed for tourism investment
LG smart hospitality solutions in a post-COVID era
Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU