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New words:
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Removed:
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Financial report summary
?Management Discussion
- The increase in net rental revenue of 28% for the three months ended March 31, 2024 to $29.1 million as compared to $22.8 million for the three months ended March 31, 2023 was a result of the increase in average units available to rent from 571 for the three months ended March 31, 2023 to 1,535 for the three months ended March 31, 2024 partially offset by lower RevPAR, or revenue per available room, from $257 for the three months ended March 31, 2023 to $208 for the three months ended March 31, 2024. The lower RevPar in the current quarter is attributable to the overall unit mix as well as the impact on our business from the partnership we exited in April of 2024. RevPAR includes both average daily rate (“ADR”) and occupancy.