MSR Resort Golf Course posts improved net income of $25,953 for March

By Caroline Salls

Pittsburgh, April 26 - MSR Resort Golf Course LLC reported $25,953 of net income for March on $55.86 million in total revenues, according to its monthly operating report filed Monday with the U.S. Bankruptcy Court for the Southern District of New York.

The figures showed improvement over the $1.61 million net loss posted for February on $47.91 million in total revenues.

The company had $37.25 million in cash and cash equivalents at March 31, up from $30.03 million at the end of February.

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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