Portsmouth Square Reports Q1 Net Loss of $2.6 Million on $12.4 Million Revenue
Reuters
Nov 18, 2025
<a href="https://laohu8.com/S/PRSI">Portsmouth Square</a> Reports Q1 Net Loss of $2.6 Million on $12.4 Million Revenue
Portsmouth Square Inc. reported a GAAP net loss of $2.6 million for the first quarter of fiscal 2026, compared to a net loss of $1.9 million in the same period last year. Hotel revenue was $12.4 million, up 5.1% year over year from $11.8 million. Average daily rate (ADR) increased by approximately 4%, and revenue per available room (RevPAR) rose by around 2.5%, while occupancy declined by about 1 percentage point. As of September 30, 2025, the company held approximately $10.1 million in cash and restricted cash. Management indicated that prior going-concern doubts were alleviated following refinancing in March 2025 and that no substantial doubt exists for at least twelve months from the issuance date of the financial statements. The Hilton San Francisco Financial District continues to operate under a franchise license with Hilton through 2030 and is managed by Aimbridge Hospitality.
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