Redamo Suites — August 2026 Dashboard

Occupancy

64.7%

vs 65.6% (Jul) · ▲ 11.1 pts vs Jun · T12 60.2%

ADR

$69.65

▼ $7.49 vs $77.14 (Jul) · T12 $84.69

RevPAR

$45.04

▼ $5.59 vs $50.63 (Jul) · T12 $50.96

Hotel Revenue

$63,567

▲ $11,630 (+22.4%) vs budget

NOI

$21,954

▲ $8,596 (164%) vs operating plan

NOI Margin

34.5%

▲ 11.9 pts vs 22.6% (Jun)

August delivered on both sides of the ledger Hotel revenue of $63,567 came in 22.4% above plan while operating expenses ran only 7.9% over — against 22.2% over in June. The result is NOI of $21,954, or 164% of the operating plan, and an NOI margin back above a third at 34.5%. Occupancy of 64.7% is 11 points ahead of June and the second-best month of 2026.

Debt service is now the whole story Interest expense of $24,026 — 37.8% of revenue — exceeded operating profit again, producing a net loss of $2,071 on an otherwise strong month. Total debt rose to $4.46 million in August as the LaBella building was completed and placed in service, funded by a new $787,500 term loan. Interest will step up further in September as a full month of that facility is carried.

Highlights & Priorities

LaBella is complete and on the balance sheet Construction in progress went to zero during August as the LaBella building was placed in service, moving $879,000 into fixed assets. Land was recognised separately for the first time ($234,000 across the site). The project was funded by a new $787,500 term loan, which together with continued line-of-credit draws lifted total debt to $4.46 million. The asset base grew accordingly, to $5.11 million.
Refinancing the construction facility is the single largest lever At 37.8% of revenue, interest is what stands between positive operating performance and a positive bottom line. $2.71 million of the $4.46 million stack is still construction-period line of credit. Converting it to permanent debt remains the priority and is now more material than it was a quarter ago.
Occupancy strategy is working; rate is the trade Occupancy has held in the mid-60s for two consecutive months after a soft spring, and extended stay is now a durable second revenue channel. ADR continues to compress as longer stays book at lower nightly rates. RevPAR of $45.04 is ahead of June but below July, so pricing work continues to focus on whether the blend improves overall yield rather than simply trading rate for volume.
Retail will not contribute income in 2026 The Smoothie King white-box buildout is close to complete, but its rent abatement period runs for several months from delivery, so no retail rent lands in 2026. The second-floor space previously carried as retail is being converted to 12 additional rental units — a change of use, not a delay. Negotiations continue with a pilates studio and other complementary businesses for the remaining ground-floor space. The FY26 budget's retail line has been removed from variance reporting rather than deferred.
Cost base is stabilising Operating expenses of $41,613 were the lowest since April and 16% below June. Management fee, guest communications and room supplies all came in under budget. Utilities and housekeeping remain above a budget set before the third building opened; those lines are being re-based rather than treated as overruns.

Operating Snapshot

Room Nights — August 2026

Available room-nights	1,333
Occupied	862
Out of order	0
Guests served	1,432
Occupancy	64.7%

All 43 rooms available for sale for the full month — the fifth consecutive month with no out-of-order inventory.

Extended-Stay Service Line

Occupied room-nights	93
Share of occupied nights	10.8%
Average rate	$50.19
Prior month rate	$54.28
Target mix by Q3 2026	20%+

Room-night share has been steady at 93 nights for two months. Accounting revenue for extended stay is higher than the PMS figure because contracted long-stay revenue is recognised on an accrual basis ahead of receipt.

Income Statement — August 2026

Accrual basis, from the FY26 Budget vs Actuals report. Budget figures reflect the re-based FY26 plan: ground-floor retail rent has been removed, since those spaces are in buildout and are not expected to generate income this year. Capital-raise legal and professional costs are reported below the NOI line as non-operating — August carried none.

Line Item	Actual	Budget	Variance	% of Budget	Status
Hotel revenue	$63,567	$51,937	+$11,630	122.4%	FAVORABLE
Total Income	$63,567	$51,937	+$11,630	122.4%	FAVORABLE
Total Operating Expenses	$41,613	$38,578	+$3,034	107.9%	OVER
Net Operating Income	$21,954	$13,358	+$8,596	164.4%	ABOVE PLAN
Interest expense	($24,026)	—	not budgeted	37.8% of rev	HIGH
Net Loss	($2,071)	$13,358	−$15,430	—

The best operating month since April Revenue beat plan by 22.4% and NOI came in at 164% of the operating plan — the widest favourable NOI variance of 2026 other than February. NOI margin of 34.5% compares with 22.6% in June and a 41.9% year-to-date average. Operating expenses of $41,613 were the lowest since April.

Why a strong operating month still shows a net loss Interest expense of $24,026 exceeded NOI of $21,954. This is a capital-structure outcome, not an operating one: the property carries $2.71 million of construction-period line of credit within a $4.46 million debt stack, and took on a further $787,500 term loan in August to complete the LaBella building. The gap between operating profit and net result narrows as that construction financing converts to permanent debt.

Expense Performance vs Budget

Category	Actual	Budget	Variance	Status
Personnel	$14,221	$11,045	+$3,176	OVER
Room turn & supplies	$8,359	$6,698	+$1,661	CHANNEL MIX
Administrative	$5,599	$4,693	+$906	OVER
Management fee	$4,400	$4,418	−$17	ON PLAN
Utilities	$3,884	$2,500	+$1,384	EXPANDED FOOTPRINT
Property site & maintenance	$3,121	$2,558	+$562	OVER
Licences, permits & other	$2,030	—	+$2,030	PERIODIC
Insurance	$0	$4,167	−$4,167	PREMIUM PAID IN JUN
Property taxes	$0	$2,500	−$2,500	ACCRUAL TIMING
Total Operating Expenses	$41,613	$38,578	+$3,034

Room turn is above budget because host channel commissions follow the channel-mix reclassification described under Revenue Mix. Utilities and housekeeping remain above a budget set before the third building opened and at lower occupancy; both lines are being re-based. Property taxes are an accrual-timing benefit that will reverse.

Revenue by Channel — August 2026

Channel	August 2026	% Mix	July 2026	% Mix
Booking.com	$29,100	45.8%	$0	0.0%
Standard stay	$18,804	29.6%	$53,245	68.0%
Extended stay (30+ day)	$16,834	26.5%	$16,833	21.5%
Airbnb	$3,420	5.4%	$7,468	9.5%
Early check-in / late check-out	$706	1.1%	$790	1.0%
Total Revenue	$63,567	100.0%	$78,336	100.0%

Read the August channel mix with care Booking.com revenue for several prior months was recorded within Standard Stay and was reallocated to its own account during August. The $29,100 shown is a catch-up reclassification, not a single month of Booking.com production, and Standard Stay is correspondingly understated for the month. Total revenue is unaffected in August and in every prior period. The two channels carry different tax treatment, which is why the split was completed. Channel mix returns to a normal monthly basis from September.

Extended Stay — the durable trend

Extended stay revenue

$16,834

Level with July and 4.6× the June figure. Extended stay has become a consistent second revenue channel rather than an occasional one, which is the stated strategy.

Host channel commissions

9.6%

Above the 5.5–7.5% target band, following the same reclassification — commissions on the reallocated Booking.com revenue posted alongside it. Expected to return to band in September.

Revenue & NOI — 2026 Year to Date

May 2026 NOI reflects a $154,065 fund-syndication legal charge reported below the NOI line per sponsor policy, consistent with all other periods shown.

Occupancy · ADR · RevPAR — Trailing 14 Months

Room inventory expanded in January 2026 with the third building — available room-nights moved from roughly 930–960 per month to 1,290–1,333. RevPAR is the preferred year-over-year comparison because it normalises for that expansion.

Trailing Performance Table

Month	Occ %	ADR	RevPAR	Avail	Occupied
Jul 2025	62.0%	$70.34	$43.62	961	596
Aug 2025	58.3%	$63.37	$36.94	959	559
Sep 2025	50.7%	$67.95	$34.42	930	471
Oct 2025	67.4%	$82.03	$55.29	957	645
Nov 2025	69.3%	$78.36	$54.26	930	644
Dec 2025	61.7%	$72.88	$44.93	1,069	659
Jan 2026	51.0%	$73.41	$37.45	1,333	680
Feb 2026	65.5%	$120.81	$79.07	1,204	788
Mar 2026	65.0%	$96.68	$62.81	1,333	866
Apr 2026	59.4%	$99.70	$59.20	1,290	766
May 2026	51.0%	$89.78	$45.80	1,333	680
Jun 2026	53.6%	$77.25	$41.38	1,290	691
Jul 2026	65.6%	$77.14	$50.63	1,333	875
Aug 2026	64.7%	$69.65	$45.04	1,333	862
T12 (Sep 25–Aug 26)	60.2%	$84.69	$50.96	14,335	8,627

2026 Financial Summary

Month	Revenue	Op Expenses	NOI	NOI Margin
January	$59,469	$36,614	$22,855	38.4%
February	$90,391	$35,152	$55,239	61.1%
March	$80,923	$48,452	$32,471	40.1%
April	$84,471	$35,555	$48,916	57.9%
May	$59,322	$42,408	$16,914	28.5%
June	$64,186	$49,647	$14,539	22.6%
July	$78,336	$47,871	$30,465	38.9%
August	$63,567	$41,613	$21,954	34.5%
YTD 2026	$580,666	$337,312	$243,353	41.9%

July and August together produced $52,419 of NOI, more than the prior three months combined. February and April benefited from peak-season rate.

Liquidity & Capital Structure — as of August 31, 2026

Cash on Hand

$218,974

▲ $81,885 vs June 30

Total Debt

$4.46M

▲ $1,005,636 vs June 30

Monthly Interest

$24,026

37.8% of August revenue

Total Assets

$5.11M

▲ $1,169,039 LaBella placed in service

August was a capital event, not a routine month The LaBella building was completed and placed in service. Construction in progress went to zero as $879,000 moved into fixed assets, and land was recognised separately for the first time ($234,000). The work was funded by a new $787,500 term loan alongside continued line-of-credit draws. Total assets rose to $5.11 million and total debt to $4.46 million. Cash of $218,974 is nearly double June's position, but the increase is financed rather than earned — it sits largely in the construction account and is matched by the new borrowing.

Cash Position

Operating account	$107,233
Construction account	$106,699
Reserve sweep	$5,043
Total Cash	$218,974

Operating cash represents roughly 2.6 months of operating expenses, improved from 1.8 months at June 30.

Debt Summary

Construction line of credit	$2,706,773
Permanent mortgage	$967,500
LaBella term loan (new)	$787,500
Total Debt	$4,461,773

61% of the debt stack is construction-period financing. Conversion to permanent debt is the primary lever on monthly interest cost.

What We Are Focused On

Convert construction financing to permanent debt Interest at 37.8% of revenue is the dominant driver of the monthly net result. $2.71 million of the stack carries construction-period pricing. With LaBella now complete and income-producing capacity added, the refinancing case is stronger than it was at mid-year.
Bring the new capacity online LaBella is placed in service and the second floor is being built out as 12 additional rental units. The use is still being decided between hotel inventory and long-term rental. This is the largest near-term addition to revenue capacity and replaces retail income that will not materialise in 2026.
Re-base the cost budget to the three-building footprint Utilities and housekeeping continue to run above budgets set before the third building opened and at lower occupancy. Re-basing gives cleaner variance reporting, alongside thermostat automation now reducing consumption in unoccupied rooms and seasonal relief expected from October.
Stabilise blended rate as extended stay grows Extended stay is building occupancy durability. Pricing work is making sure the blend improves RevPAR rather than trading rate for volume, particularly as ADR has declined for three consecutive months.