Lakeview Hotel Real Estate Investment Trust said it lost $10.2 million in 2010, compared to $8.068 million in 2009. Properties include Lakeview Resort & Conference Centres in Gimli, Manitoba and Summerside, Prince Edward Island.
Lakeview Hotel Real Estate Investment Trust of Winnipeg, which operates hotels in Canada, announced it lost $10.2 million in 2010, compared to $8.068 million in 2009. But the company says revenues have been increasing.
“The bottom of the market for Lakeview REIT took place in February, 2010,” the firm stated in a press release. “Since that time, operating results have been in a clear uptrend.”
Revenue for the fourth quarter of 2010 was $7.707 million, up 14 per cent from $6.594 million in the same period in 2009. The company says in 2010, revenues were up year-over-year in every month except May.
Lakeview REIT’s parent company is Lakeview Management Inc. Lakeview or its principals own nine hotels including the Lakeview Resort & Conference Centres in Gimli, Manitoba and Summerside, Prince Edward Island.
DCN DIGITAL MEDIA
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