X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

BOCA RATON, FL-Janus Hotels & Resorts Inc. is expanding an existing plan to repurchase one million shares of the company’s outstanding common stock. The locally based company can repurchase of up to 1.4 million shares either on the open market or through private block transactions, according to its directors who authorized the strategy Oct. 5.

Announcement of the buyback comes as shares in the company last traded up six cents on Oct. 4 at $1.22 each on volume of 1,200. The issue has traded as high as $3.63 and as low as $1.05 over the past 52 weeks. Janus owns and operates 14 hotels.

The company experienced a 181% increase in net losses and a 10.6% decrease in total revenue for the second quarter ended June 30. Revenue per available room decreased about 13.6% over the three-month period compared to the same period in 2000. Occupancy rates dipped to 61% from 66% for the same period a year ago.

Janus reported a net loss of $346,293, or five cents a share on total revenue of $11.98 million for the three months ended June 30 compared with a net gain of $428,077, or one cent per share on total revenue of $13.4 million for the same 2000 period.

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
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

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

  • Free unlimited access to GlobeSt.com'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 ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.