Portsmouth Square, Inc. Reports Third Quarter Fiscal 2026 Results; Hotel Operating Results Improve Year‑Over‑Year as San Francisco Recovery Progresses

About this update from Portsmouth Square, Inc.

[{"type":"text","content":"Los Angeles, California, May 11, 2026 (GLOBE NEWSWIRE) -- Portsmouth Square, Inc. (the “Company” or “Portsmouth”) today announced financial results for the fiscal third quarter ended March 31, 2026. Portsmouth’s principal asset is the Hilton San Francisco Financial District hotel (the “Hotel”). The Company’s results and related discussion below are derived from its Quarterly Report on Form 10‑Q for the quarter ended March 31, 2026.","length":435,"tagName":"p"},{"type":"text","content":"Third Quarter Fiscal 2026 Highlights (Three Months Ended March 31, 2026 vs. 2025)","length":81,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Hotel revenues increased to $16.497 million from $12.210 million (+$4.287 million, +35%).","length":89,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":89,"olType":false},{"type":"text","content":"For additional context, Hotel revenues for the quarter ended March 31, 2026 exceeded the comparable pre‑pandemic quarter ended March 31, 2019 by approximately $1.028 million (Hotel revenues of $15.469 million for the quarter ended March 31, 2019), which management views as a notable milestone relative to pre‑pandemic levels.","length":326,"tagName":"p","attribs":{}},{"type":"text","content":"While revenues improved notablely year‑over‑year, net income (loss) was partially offset by higher hotel operating expenses associated with increased activity levels, as well as ongoing fixed charges including mortgage and related‑party interest expense and depreciation and amortization. In addition, the prior‑year quarter included a $1.416 million gain on extinguishment of debt that did not recur in the current quarter.","length":424,"tagName":"p","attribs":{}},{"type":"list","items":[{"val":[{"type":"text","content":"GAAP net income was $0.571 million, compared to a GAAP net loss of $0.712 million in the prior‑year quarter.","length":108,"tagName":"p"}]},{"val":[{"type":"text","content":"Net income from Hotel operations was $0.884 million, compared to a net loss of $0.253 million in the prior‑year quarter.","length":120,"tagName":"p"}]},{"val":[{"type":"text","content":"Hotel operating income before interest, depreciation and amortization increased to $5.123 million from $2.525 million.","length":118,"tagName":"p"}]},{"val":[{"type":"text","content":"Hotel operating metrics improved year...

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