Portsmouth Square's Fiscal 2026: Hotel Revenue Climbs 20%, Adjusted EBITDA Surges 82%
PRSI has more than doubled off its 52-week low of $1.25.
Summary
Portsmouth Square's fiscal 2026 results show a 20% hotel revenue increase, 82% Adjusted EBITDA growth, and debt covenant compliance with a 1.45x DSCR — supporting the expected first loan extension through April 2028.
Key Events · Earnings and Guidance · PRSI
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Hotel Revenue Up 20%
Fiscal 2026 hotel revenues reached $55.797 million, up from $46.363 million, driven by higher ADR ($253 vs $218), occupancy (95% vs 92%), and RevPAR ($239 vs $200).
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Adjusted EBITDA Up 82%
Adjusted EBITDA rose to $11.350 million from $6.229 million, excluding two non-recurring fiscal 2025 items: a $1.416M debt extinguishment gain and a $1.030M Aimbridge fee waiver.
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Debt Covenant Compliance
DSCR of 1.45:1.00 as of June 30, 2026 exceeds the 1.10:1.00 required for the first extension of the $67.0M senior mortgage and $36.3M mezzanine loans; management expects to exercise the extension through April 9, 2028.
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Revolving Credit Facility Extended
The $40.0M unsecured facility with The InterGroup Corporation had $38.108M outstanding and $1.892M available; maturity was extended from July 31, 2027 to July 31, 2029 in August 2026.
Analysis · PRSI · Real Estate & Construction
Portsmouth Square delivered a materially improved fiscal 2026: hotel revenue rose 20% to $55.8 million, income from operations more than doubled to $7.8 million, and Adjusted EBITDA jumped 82% to $11.35 million. The GAAP net loss narrowed by $3.7 million to $5.4 million. Critically, the company is in compliance with its debt covenants — DSCR of 1.45x versus the 1.10x required for the first loan extension — and management expects to exercise that extension through April 2028. The $40 million revolving credit facility maturity was also pushed out to July 2029. Against a market cap of roughly $5 million, the operating turnaround and covenant headroom meaningfully reduce near-term liquidity risk, though the company remains loss-making on a GAAP basis.
How filings like this one have moved
In the 30 days to Oct 2, 2026, 29.9% of the 1656 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.57%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, PRSI was trading at $6.86 on OTC in the Real Estate & Construction sector, with a market capitalization of approximately $5M. The 52-week trading range was $1.25 to $92.00. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.