BOCA RATON, FL-Boca Resorts Inc. closed the fiscal year relatively unscathed by the current overall national decline in demand for hospitality services.

The Boca Raton-based owner-operator of resorts is reporting an 8.1% increase in revenue per available room and room occupancy of 3.1% for the fourth quarter ended June 30. Year-end RevPar increased by 8.3%, while year-end occupancy rates grew by 1.5%.

Excluding extraordinary expenses and income taxes, the company also exceeded a fourth-quarter earnings forecast of four cents per share by one cent, as tracked by First Call/Thomson Financial. It met the year-end consensus estimate of eight cents a share.

The company reported a fourth-quarter net gain of $3.3 million, or eight cents per share, on total revenue of $72.1 million, compared with net of $7.8 million, or 19 cents per share, on revenue of $66.7 million for the same period in 2000.

Although it didn’t cite reasons for the decline in fourth-quarter net income, the company attributed the increased revenue to a 4% rise in average daily rates charged at its resorts and an increase in golf initiation fees and club dues.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.