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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) issued a clarification regarding the status of the Skirvin Hilton sale in Oklahoma City, stating that the sale is still pending and has not yet closed. The company warns investors and the public against relying on existing reports that detail the sale's terms and timing. Marcus Hotels & Resorts manages 17 properties across the U.S. and is recognized for its hospitality leadership since 1962.
The Marcus Corporation (NYSE: MCS) reported strong third-quarter results for fiscal 2022, with revenues reaching $183.7 million, a 25.9% increase from the previous year. Operating income improved to $8.9 million, while net earnings rose to $3.3 million, or $0.10 per diluted share. The hotel division exceeded pre-pandemic revenue levels, and the theatres segment saw a 28% increase in attendance despite a lackluster film slate. A quarterly cash dividend of $0.05 per share was also announced, highlighting the company's financial resilience.
Marcus Hotels & Resorts, part of The Marcus Corporation (NYSE: MCS), announces Milwaukee's recognition as a top 25 global destination for 2023 by National Geographic. This accolade highlights the city’s vibrant culture, stunning lakefront, and diverse dining options. Michael Evans, president of Marcus Hotels, expressed excitement about offering unforgettable experiences to visitors through their properties, including The Pfister, Saint Kate - The Arts Hotel, and Hilton Milwaukee City Center. The company operates 17 hotels across the U.S. and emphasizes its commitment to enhancing Milwaukee's tourism appeal.
Marcus Hotels & Resorts announced the promotions of Brandon Drusch to general manager of The Pfister Hotel and managing director of both The Pfister Hotel and Saint Kate – The Arts Hotel. Dana Johnson succeeds Drusch as general manager of Saint Kate. Drusch has over 15 years of experience, leading Saint Kate to become a AAA Four Diamond property. Johnson has more than 25 years in hotel sales, previously managing the sales teams for the company's Milwaukee properties.
The Marcus Corporation (NYSE: MCS) will announce its fiscal Q3 2022 results on Thursday, November 3, 2022, before the market opens. A live conference call is scheduled for 10:00 a.m. Central time, accessible via the company's investor relations website or by phone. A recording will be available until November 10, 2022. The Marcus Corporation is a leader in the lodging and entertainment sectors, owning 1,064 screens at 85 locations across 17 states through its theatre division, Marcus Theatres, and managing 17 hotels in nine states under its lodgings division.
Marcus Theatres, a division of The Marcus Corporation (NYSE:MCS), celebrates reaching its five millionth member in the Magical Movie Rewards loyalty program. Launched in 2014, the program has played a crucial role in enhancing customer loyalty and boosting sales. Members earn one point per dollar spent and receive various perks, including waived online ticketing fees. Loyalty members contributed to 46% of overall attendance and visit the theatre an average of four times a year. The program continues to grow, adding approximately 15,000 new members monthly.
The Marcus Corporation (NYSE: MCS) will participate in two investor conferences on September 8, 2022. Gregory S. Marcus, President and CEO, and Chad M. Paris, CFO, will attend Benchmark’s 9th Annual Consumer/Media/Entertainment Conference in New York. Meetings can be arranged through the Benchmark Company. Additionally, they will engage in the 15th Annual Barrington Research Virtual Fall Investment Conference, with private meetings scheduled via Barrington Research Associates. The company, based in Milwaukee, is a key player in the lodging and entertainment sectors.
The Marcus Corporation (NYSE: MCS) has announced the retirement of Rolando B. Rodriguez, CEO of Marcus Theatres, effective October 1, 2022. Mark A. Gramz will be promoted to president of Marcus Theatres following Rodriguez's departure. Rodriguez, who joined the company in 2013 and played a key role in transforming the theatre division, will transition to a senior advisor role while continuing to represent Marcus Theatres on various boards. This leadership change is expected to ensure a smooth transition as the company continues to navigate the entertainment industry.
The Marcus Corporation (NYSE: MCS) reported strong second quarter fiscal 2022 results, with revenues rising to $198.6 million, a 114.5% increase year-over-year. Operating income surged to $18.9 million, marking a return to profitability after a $26.1 million loss in the same quarter last year. Net earnings were $9.0 million, up from a net loss of $23.4 million. Adjusted EBITDA reached $37.3 million compared to a loss of $1.2 million in the previous year. The company declared a cash dividend of $0.05 per share, its first since March 2020, reflecting a commitment to return value to shareholders.
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