The Marcus Corporation reports developments across its entertainment and hospitality businesses, with Marcus Theatres operating movie theatres under the Marcus Theatres, Movie Tavern by Marcus and BistroPlex brands and Marcus Hotels & Resorts owning and managing hotels, resorts and other properties. Company news commonly covers box-office trends, film-slate performance, food-and-beverage concepts such as Zaffiro's, Reel Sizzle, Take Five Lounges and in-auditorium dining, and hotel operating measures such as RevPAR.
Updates also include quarterly results, conference participation, annual shareholder meeting matters, division leadership changes and governance topics. The company's releases often connect theatre attendance, dining formats and hospitality demand with the performance of its company-owned real estate and managed-property portfolio.
MetaMedia, a global cloud-based content delivery platform, has partnered with Marcus Theatres, the fourth-largest theater chain in the U.S., which operates 1,064 screens across 85 locations. This collaboration aims to leverage MetaMedia's technology to enhance operational efficiency and create new revenue streams through diverse programming, including live events. The MetaMedia Entertainment Network, powered by Microsoft Azure, will facilitate the secure and rapid delivery of entertainment content to Marcus Theatres.
The Marcus Corporation announced a joint venture with Searchlight Capital Partners to acquire the Kimpton Hotel Monaco Pittsburgh, managed by Marcus Hotels & Resorts, effective December 16, 2021. This acquisition marks a strategic expansion into the Pennsylvania market, enhancing their portfolio of lifestyle hotels and resorts. The Kimpton Hotel Monaco features 248 rooms and over 11,300 sq. ft. of event space, appealing to business and leisure travelers. The terms of the deal were not disclosed.
Marcus Theatres, a division of The Marcus Corporation (NYSE:MCS), announced record advance ticket sales for ‘Spider-Man: No Way Home’, marking the largest sales since ‘Avengers: End Game’ in 2019. Tickets, which went on sale on November 29, are expected to continue strong sales as audiences return to theaters. Notably, 72% of tickets sold in the first two days were for premium formats like UltraScreen DLX and IMAX. The excitement around the film comes as the company heads into the holiday season.
The Marcus Corporation (NYSE: MCS) reported a strong recovery in its third quarter fiscal 2021, achieving nearly $25 million in Adjusted EBITDA and positive net earnings of $1.76 million. Total revenues reached $145.86 million, a significant increase from $33.59 million in Q3 2020. Both Marcus Theatres and Marcus Hotels & Resorts outperformed their industries, with Marcus Theatres achieving positive Adjusted EBITDA for the first time since the pandemic began. The balance sheet remains solid with $197 million in cash and credit availability.
The Marcus Corporation (NYSE: MCS) has appointed Chad Paris as corporate controller and treasurer. Paris, with over 15 years of experience in finance, previously served as CFO at Jason Group, Inc., where he managed various financial functions and transactions. He holds degrees in management and finance from the University of Wisconsin – Milwaukee and is a certified public accountant. Douglas A. Neis, CFO of The Marcus Corporation, commended Paris for his depth of knowledge in financial management, which is expected to support the company's growth strategy.
The Marcus Corporation (NYSE: MCS) will report its third quarter fiscal 2021 results before the market opens on November 3, 2021. Following the release, a conference call will be held at 10:00 a.m. Central (11:00 a.m. Eastern), accessible via the company's website or by phone. A replay will be available until November 10, 2021. The company is a leader in lodging and entertainment, operating Marcus Theatres, the fourth largest theater circuit in the U.S., with 1,091 screens across 17 states, and Marcus Hotels & Resorts, managing 19 properties.
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The Marcus Corporation (NYSE: MCS) has filed a new universal shelf registration statement with the Securities and Exchange Commission. This allows the company to offer an indeterminate number of securities with a maximum aggregate price of up to $150 million. This replaces the previous shelf registration that expired on September 18, 2021. The registration provides flexibility to raise public equity or debt capital for business expansion, acquisitions, or debt repayment. CEO Gregory S. Marcus emphasized the proactive nature of this filing for future financial opportunities.
The Marcus Corporation (NYSE: MCS) has promoted Steve Hilton to senior vice president of operations for Marcus Hotels & Resorts. In this role, Hilton will oversee operations across the hotel portfolio, enhancing systems, talent development, and community engagement. Hilton has over 30 years of experience and previously managed the Omaha Marriott Downtown, recognized as 'Hotel of the Year' in 2019. His extensive background positions him to bolster the company’s service quality and operational excellence.
The Marcus Corporation (NYSE: MCS) announced participation in two virtual investor conferences on September 9, 2021. Executives Gregory S. Marcus and Douglas A. Neis will attend Benchmark’s 8th Annual Virtual Consumer/Media/Entertainment Conference, allowing for one-on-one and small group meetings. They will also participate in the 14th Annual Barrington Research Virtual Fall Investment Conference on the same day. Investors can schedule meetings through the respective firms. The Marcus Corporation is a prominent player in the lodging and entertainment sectors, owning 1,091 screens at 88 locations.