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The Marcus Corporation (symbol: MCS) is a diversified company primarily engaged in the motion picture theatre and hospitality industries in the United States. Founded in 1935 and headquartered in Milwaukee, Wisconsin, Marcus Corporation has a rich history and significant presence in the entertainment and hospitality sectors.
Theatre Segment: The Marcus Corporation operates 1,110 screens at 91 locations across 17 states under well-recognized brands such as Marcus Theatres, Movie Tavern by Marcus, and BistroPlex. Notably, the company also runs a family entertainment center named Funset Boulevard in Appleton, Wisconsin, and a retail outlet called Ronnie's Plaza. This segment generates the maximum revenue for the corporation, providing high-quality movie-going experiences through state-of-the-art technology and superior customer service.
Hotels and Resorts Segment: The company's hospitality segment includes owning and managing 20 hotels, resorts, and other properties in eight states. These properties range from luxury resorts to full-service hotels, offering extensive amenities and services like check-in, housekeeping, and maintenance for vacation ownership developments. Marcus Corporation's hotels and resorts are located in Wisconsin, Illinois, Nebraska, and manage properties in states like Minnesota, Texas, Nevada, California, and North Carolina.
In addition to its core business operations, The Marcus Corporation prides itself on its commitment to customer satisfaction, community involvement, and sustainable business practices. The company's strategic partnerships and continuous efforts in enhancing guest experiences have been pivotal in its sustained growth and market relevance.
Despite the challenges posed by the global pandemic, Marcus Corporation has shown resilience by adapting to new market demands and implementing innovative solutions. Its diversified portfolio and robust management strategies provide a stable financial outlook, positioning it well for future growth and expansion.
Marcus Theatres (NYSE: MCS) has launched the Marcus Movie Club, a new monthly membership program priced at $9.99 per month. Members receive one 2D movie credit monthly, 20% off food and beverages, unlimited additional tickets at $9.99, and no digital convenience fees. Unused credits roll over, and the pricing applies to early access and opening night screenings. An annual subscription option is available at $109.89, offering one month free. The program can be accessed through the Marcus Theatres app or website, with credits usable for upgrades to premium formats like IMAX and 3D.
Marcus Theatres (NYSE:MCS) has launched the Marcus Movie Club, a new monthly membership program priced at $9.99. Members receive a monthly credit for any 2D movie, 20% off food and beverages, unlimited access to additional tickets at $9.99, and no digital convenience fees. The program features rollover credits for unused tickets and early access to screenings. Members can also upgrade to premium formats like SuperScreen, UltraScreen, RealD3D, IMAX, 4DX, or ScreenX. The company offers both monthly subscriptions at $9.99 and annual memberships at $109.89, which includes one free month.
The Marcus (NYSE: MCS) has declared a regular quarterly cash dividend of $0.07 per share of common stock, payable December 16, 2024, to shareholders of record on November 25, 2024. Additionally, a dividend of $0.064 per share was declared on the non-publicly traded Class B common stock, with the same payment and record dates. Marcus operates in lodging and entertainment industries, with Marcus Theatres® being the fourth largest theatre circuit in the U.S., managing 993 screens at 79 locations across 17 states. The company's lodging division, Marcus® Hotels & Resorts, operates 16 properties in eight states.
The Marcus (NYSE: MCS) reported record third quarter fiscal 2024 results with total revenues of $232.7 million, up 11.4% year-over-year. Net earnings reached $23.3 million, a 90.6% increase from the prior year. Marcus Theatres saw a 13.6% revenue increase to $143.8 million, with attendance growing 7.1%. Marcus Hotels & Resorts reported revenues of $79.0 million, up 9.6%. The company completed $10 million in share repurchases and retired convertible debt. Both divisions outperformed their respective industries, benefiting from strong room rates during the Republican National Convention and an improved film slate.
The Marcus (NYSE: MCS) has announced the release date for its third quarter fiscal 2024 results. The company will report its results before the stock market opens on Thursday, October 31, 2024. Following the release, a conference call will be held at 10:00 a.m. Central/11:00 a.m. Eastern time.
Investors and interested parties can access the call through the company's website or by dialing 1-404-975-4839 with passcode 935227. A telephone replay will be available until November 14, 2024, by dialing 1-866-813-9403 with passcode 167289. The webcast will remain archived on the company's website until the next earnings release.
The Marcus (NYSE: MCS) has filed a new universal shelf registration statement with the SEC, replacing its expiring prior statement. This allows the company to potentially offer up to $150 million in various securities, including debt securities, common stock, preferred stock, and warrants. The filing provides flexibility for future public offerings, with specifics to be detailed in prospectus supplements as needed.
CEO Gregory S. Marcus described the filing as a proactive step to efficiently facilitate potential future capital raising for business expansion, acquisitions, growth opportunities, or debt repayment. The Marcus is a leader in lodging and entertainment industries, operating 981 screens at 79 locations in 17 states under various brands, and owning or managing 16 hotels and resorts in 8 states.
Marcus Hotels & Resorts, a division of The Marcus (NYSE: MCS), announced that four of its properties have been recognized in the Condé Nast Traveler 2024 Readers' Choice Awards. The honored properties include:
1. The Pfister Hotel - No. 8 top hotel in the Midwest (8th consecutive year)
2. Saint Kate – The Arts Hotel - No. 11 top hotel in the Midwest
3. Grand Geneva Resort & Spa - No. 2 top resort in the Midwest
4. Kimpton Hotel Monaco Pittsburgh - No. 2 top hotel in the Mid-Atlantic
Michael Evans, president of Marcus Hotels & Resorts, expressed gratitude for the recognition, attributing it to the dedication of their associates. The Pfister Hotel is undergoing a $20 million reinvestment, while Saint Kate offers an immersive arts experience. Grand Geneva Resort & Spa is an all-seasons destination, and Kimpton Hotel Monaco Pittsburgh connects guests to the 'Steel City'.
Marcus Theatres (NYSE:MCS) is reviving its Reel Movies for Real Needs program at 18 locations across 8 states. This initiative, suspended in 2020 due to COVID-19, offers sensory-friendly movie screenings with lower volume and brighter lighting for those who may be uncomfortable in typical cinema environments. The program caters to an estimated 5% to 16.5% of the population experiencing sensory processing disorders.
Screenings will take place on Saturday mornings at 11 a.m., featuring first-run family-friendly films. The upcoming lineup includes titles like Beetlejuice, Transformers One, and The Wild Robot. This program is part of Marcus Theatres' broader accessibility efforts, which include cost-saving options and language-accessible screenings.
The Marcus (NYSE: MCS) has announced that CFO Chad M. Paris will participate in two upcoming investor conferences in September 2024. These include Benchmark's 11th Annual Tech/Media/Telecom Conference on September 5 in New York City and the 17th Annual Barrington Research Virtual Fall Investment Conference on September 12.
Both conferences offer opportunities for one-on-one and small group meetings with investors. The Marcus , headquartered in Milwaukee, is a leader in the lodging and entertainment industries. Its theatre division, Marcus Theatres, is the fourth largest theatre circuit in the U.S., operating 995 screens at 79 locations across 17 states. The company's lodging division, Marcus Hotels & Resorts, manages 16 properties in eight states.
The Marcus (NYSE: MCS) has declared a regular quarterly cash dividend of $0.07 per share of common stock, payable on September 16, 2024, to shareholders of record on August 26, 2024. Additionally, a dividend of $0.064 per share on the Class B common stock was declared, with the same payment and record dates. Marcus , headquartered in Milwaukee, is a leader in the lodging and entertainment industries. Its theatre division, Marcus Theatres®, is the fourth largest theatre circuit in the U.S., operating 995 screens at 79 locations in 17 states. The company's lodging division, Marcus® Hotels & Resorts, manages 16 hotels, resorts and other properties in eight states.
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