Last C$0.40 CAD
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As of 11:57 AM 08/18/14 All times are local (Market data is delayed by at least 15 minutes).

lakeview hotel investment co (LHR) Snapshot

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06/6/14 - C$0.45
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lakeview hotel investment co (LHR) Details

Lakeview Hotel Real Estate Investment Trust operates as a closed-end mutual fund trust. It owns directly and indirectly the Lakeview Inn & Suites, Fredericton. The trust has also a 49% interest in the Lakeview Flag. It intends to invest in a portfolio of hotel properties, commercial and office properties, and extended stay properties in Canada and the United States. The trust was created under the laws of the Province of Manitoba in February 2004 and is headquartered in Winnipeg, Manitoba.

Founded in 2004

lakeview hotel investment co (LHR) Top Compensated Officers

Chief Executive Officer, President, Director,...
Total Annual Compensation: --
Chief Financial Officer, Chief Financial Offi...
Total Annual Compensation: --
Compensation as of Fiscal Year 2012.

lakeview hotel investment co (LHR) Key Developments

Lakeview Hotel Investment Closes Credit Facility with its Existing Lender

Lakeview Hotel Investment Corp. announced that, on July 30, 2014, it closed a two-year financing with its existing lender. The company will use the credit facility to refinance all first mortgage loans on 13 of its properties in Alberta and British Columbia.

Lakeview Hotel Investment Corp Enters into Binding Commitment Agreement with Existing Lender to Refinance All First Mortgage Loans

Lakeview Hotel Investment Corp. announced that it entered into a binding commitment agreement with its existing lender to refinance all first mortgage loans on thirteen properties in Alberta and British Columbia. Such commitment agreement is conditional upon a number of conditions including the entering into of definitive agreements, the absence of material changes and completing the refinancing by July 15, 2014. The credit facility will be for a two year term and would provide for comparable debt service payments to the payments that are currently being made by LHIC. The financing is scheduled to close on July 15, 2014.

Lakeview Hotel Investment Corp Reports Financial Results for the First Quarter Ended March 31, 2014; Provides Earnings Guidance for the Second Quarter of 2014

Lakeview Hotel Investment Corp. reported financial results for the first quarter ended March 31, 2014. For the period, total revenue was $9,688,663 against $9,946,705 last year. Net income was $1,200,587 against net loss of 315,315 last year. Basic and diluted income before income tax per share was $0.061 against basic and diluted loss before income tax per share of $0.016 last year. Funds from operations increased from $696,701 or $0.036 per basic and diluted share to $1,327,682 or $0.068 per basic and diluted share last year. Adjusted funds from operations increases from $508,233 $0.026 per basic and diluted share or to $1,164,669 $0.060 per basic and diluted share last year. Distributable income for the quarter was up, from $607,437 or $0.063 per basic and diluted share to $1,225,095 or $0.031 per basic and diluted share last year. The company provided earnings guidance for the second quarter of 2014. The company reported that second quarter operating results are typically more difficult to predict based on uncertainty related to the timing and duration of road closures in Alberta and British Columbia and the impact of these closures on hotel operations. While subject to this uncertainty, at the time of writing expectations are that on a comparable hotel basis second quarter revenues will be well ahead of the revenues achieved in the second quarter of 2013. The outlook beyond the second quarter continues to remain very positive.


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