Best Hotel Properties as said its normalized net income for the first quarter came to a loss of €232,500, compared with a loss of €1.4 million in the prior-year period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin rose to negative 2.0% from negative 11.7% in the year-earlier period.
Total revenue declined 5.7% on an annual basis to €11.5 million from €12.2 million, and total operating expenses decreased 11.3% year over year to €13.1 million from €14.8 million.
Reported net income totaled a loss of €98,000, or a loss of 0 cents per share, compared to a loss of €2.3 million in the year-earlier period.