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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.
The Marcus Corporation (NYSE: MCS) announced it will report its first quarter fiscal 2023 results on May 4, 2023, prior to the market open. A conference call will be held at 10:00 a.m. Central / 11:00 a.m. Eastern time for investors and analysts, with access available via the company’s website or by phone.
This conference call will provide insights into the company's performance in the lodging and entertainment sectors. The replay will be accessible until May 11, 2023, allowing listeners to catch up on discussions related to earnings and strategic direction. The Marcus Corporation operates significant assets in both cinema and hotel industries, including 1,036 screens across 83 locations in 17 states.
Screenvision Media has renewed its partnership with Marcus Theatres, the nation's fourth largest exhibitor and a division of The Marcus Corporation (NYSE:MCS). This strategic extension highlights the strength of Screenvision's exhibitor network and its growing profitability, leveraging the company's strong first-quarter advertising revenue. The deal grants Marcus Theatres access to premium advertising inventory and will feature in Screenvision's upcoming broadcasts. With 65 theatres and 864 screens, Marcus is a vital partner, contributing significantly to Screenvision's recovery towards pre-pandemic advertising levels.
The Pfister Hotel in Milwaukee announces Nicole Acosta as its 14th Artist in Residence, starting April 1, 2023. Acosta, a first-generation Mexican American artist, will take over from current resident Christopher T Wood. The community is invited to welcome her during Spring Gallery Night on April 21. Acosta's ongoing project, HOOPS, focuses on Latinx culture and is being adapted into a stage production. During her residency, she plans to create a coffee table book and collect stories from hotel guests and the local community. The Pfister's Artist in Residence program has gained national recognition for promoting art and cultural engagement.
The Marcus Corporation (NYSE: MCS) reported a record Adjusted EBITDA for fiscal year 2022, totaling $85.1 million, a 142.5% increase from fiscal 2021. Total revenues for FY 2022 reached $677.4 million, marking a 47.8% increase. The hotel division exceeded pre-pandemic revenue levels, contributing significantly to operating income of $8.3 million. However, Q4 revenues decreased by 3.6%, resulting in a net loss of $9.3 million. Despite these challenges, the company anticipates continued improvement in both hotel and theatre divisions for fiscal 2023 due to growing travel demand and an expected increase in film releases.
On March 1, 2023, The Marcus Corporation (NYSE: MCS) announced a quarterly cash dividend of
The Marcus Corporation (NYSE: MCS) announced the election of Austin M. Ramirez as a director. Ramirez is CEO of Husco, a global manufacturing firm, known for its leadership skills within Milwaukee’s business community. Under his guidance, Husco grew by over 300% and gained recognition as a Global Growth Company. Ramirez's experience includes a White House fellowship and roles at McKinsey & Company. His background in strategic planning and finance is expected to bolster Marcus Corporation’s growth initiatives. This management change is perceived as a strategic move to enhance leadership and identify new growth opportunities.
The Marcus Corporation (NYSE: MCS) will report its fourth quarter and full year results for fiscal 2022 on March 2, 2023, prior to the market opening. A conference call will follow at 10:00 a.m. Central / 11:00 a.m. Eastern where participants can join via the investor relations section of the company's website or by phone. A replay of the call will be available until March 9, 2023. The Marcus Corporation operates in the lodging and entertainment industries, managing 1,053 screens at 84 locations and owning 16 hotels across 8 states.
The Marcus Corporation (NYSE:MCS) announced the appointment of Steve Bunnell as the new executive vice president of content strategy, effective March 6. Bunnell brings extensive experience from roles at Briarcliff/Open Road, Alamo Draft House, Regal Entertainment, and Universal Pictures. His leadership aims to enhance programming for the 84 locations of Marcus Theatres and Movie Tavern, focusing on maximizing attendance and revenue. Mark Gramz, president of Marcus Theatres, highlighted the importance of innovative out-of-home entertainment experiences. Bunnell succeeds Sonny Gourley, who is retiring after ten years with the company.
Marcus Hotels & Resorts has appointed restaurateur John Wise as vice president of food and beverage. Wise, with over 27 years of experience at Bartolotta Restaurants, will enhance the culinary offerings across Marcus’s 16 properties, which include over 40 restaurants, bars, and catering programs. He aims to provide guests with innovative dining experiences and foster a vibrant restaurant culture within the hotels. Andrew Flack, chief commercial officer, highlighted Wise’s proven track record in creative restaurant management. This strategic move is part of Marcus’s efforts to elevate its culinary operations.
Marcus Hotels & Resorts, a division of The Marcus Corporation (NYSE: MCS), announces the sale of the Skirvin Hilton in Oklahoma City for
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