Highest-materiality recent filing
Portsmouth Square Q3 hotel rev +35% to $16.5M; posts net income $0.57M vs loss
Hotel revenues $16.497M, up 35% YoY; RevPAR $287 vs $215, ADR $306 vs $241, occupancy 94% vs 89%.
Portsmouth Square Q1 FY2026 net loss widens to $2.6M; hotel revenue up 5% but costs rise
Net loss of $2.585M vs. $1.872M in Q1 FY2025; EBITDA fell 38.2% to $1.655M.
Portsmouth Square reports FY2025 results; going-concern doubt alleviated after March refinancing
Hotel revenue $46.4M (+10.7% YoY); occupancy 92% (up 10 pts); RevPAR $200 (+13%).
Portsmouth Square subsidiary refinances Hilton SF hotel with $67M mortgage and $36.3M mezzanine loan
Mortgage loan of $67M at SOFR + 4.80% with interest rate cap limiting Term SOFR to 4.50%.
Portsmouth Square receives loan default notice; $97M debt may be accelerated
Notice of termination event received Jan 3, 2025; Justice failed to pay $97M principal by forbearance deadline Jan 1.
Portsmouth Square subsidiary enters loan forbearance, requires $8.6M paydown
Forbearance on mortgage loan with U.S. Bank until Jan 1, 2025; regular payments continue.
On Jan 4, 2024, Justice Operating Company received a notice of default on $97M in loans from institutional lenders.
On August 31, 2022, Danfeng Xu resigned as the Treasurer and Controller of Portsmouth Square, Inc. effective immediately.
Max materiality 0.85 · Median 0.38 · Most common event other