Caesars Entertainment Corp Sees Revenue Growth from Hotel Operations, Fourth Quarter and Full-Year 2015 Results
Caesars Entertainment Corp released its revenues for its hotel operations and are quite pleased with their results. The company’s hotel sector of the business earned a recorded increase of 14.7% in net revenues in 2015. For year-on-year earnings, Caesars reported that continual growth increased 51.7% with its adjusted earnings for full-year to $1.3 billion.
Increased net revenues are from improved hotel customer mix, marketing strategies and operational proficiencies. “Caesars achieved solid operating momentum throughout 2015“, including CEOC’s results, the enterprise experienced its best full-year of operating results since 2007 commented President and Chief Executive, Mark Frissora.
These results largely reflect higher hotel revenues, with cash ADR up double-digits, and increased marketing and operational efficiencies, which delivered approximately $350 million in incremental EBITDA enterprise-wide year-over-year.”
One of the reasons for the boosted hotel revenues for last year was due to average daily room rates. Frissora stated that,
“The ability to generate this level of sustained growth is a testament to the success of our low-cost, high-quality operating model. We remain focused on executing a balanced agenda of enhancing revenue growth while driving productivity gains to improve margins and cash flow, while increasing long-term value for our stakeholders.”