MSR Resort Golf Course posts $1.11 million April net loss; sales down

By Caroline Salls

Pittsburgh, May 26 - MSR Resort Golf Course LLC reported a $1.11 million net loss for April on $51.53 million of total revenues, according to its monthly operating report filed Wednesday with the U.S. Bankruptcy Court for the Southern District of New York.

The figures showed a decline from the $25,953 of net income posted for March on $55.86 million of total revenues.

The company had $33.79 million of cash and cash equivalents at April 30, down from $37.25 million at the end of March.

MSR Resort owns and operates five resorts, including the Grand Wailea Resort Hotel & Spa in Maui, Hawaii; the La Quinta Resort & Club and PGA West in La Quinta, Calif.; the Arizona Biltmore Resort & Spa in Phoenix; the Doral Golf Resort & Spa in Miami; and the Claremont Hotel Club & Spa in Berkeley, Calif.

The New York-based company filed for bankruptcy on Feb. 1. The Chapter 11 case number is 11-10372.

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