Tuesday, May 3, 2011

Hotel Pennsylvania 1st Q reports

Vornado announced their first quarter reports today, for the period ending March 31, 2011. Although the Hotel Pennsylvania showed an improvement from last year at this time, they are still down. The Hotel lost $68,000 this quarter, which is an improvement from last year at this times, loss of $447,000.

Vornado the parent company and current owner of the Hotel Pennsylvania, did not invest any money this past quarter in improvements to the building.

Currently the hotel property size is 1,400,000 SqF with a retail portion of 188,000 SqF.

The full report can be read off of the SCC website here.