BOCA RATON, FL-The decision last summer by Boca Resorts Inc. to sell the Florida Panthers professional hockey franchise produced a healthy impact on the company’s first-quarter financials.

Fueled by a non-recurring gain of $23.7 million, or 59 cents per share, the Boca Raton-based owner-operator of luxury resorts in Florida is reporting a net gain for the three months ended Sept. 30, compared with a net loss for the same period last year.

However, the sale comes as the company reports that first-quarter occupancy at its Florida reports dropped to 51.2%, compared with occupancy of 64.1% for the same period in 2000.

The same trend held true for revenue per available room. RevPar for the three-month period dropped to $67.35, down from $82.65 during the same period last year.

The company reported first-quarter net income of $12.2 million, or 31 cents per share, on total revenue of $39.5 million, compared with a net loss of $27.6 million, or 68 cents per share, on revenue of $59.6 million for the same period in 2000.

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?


© 2024 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 © 2024 ALM Global, LLC. All Rights Reserved.