Lightstone Value Plus Reit IV Inc

lightstonecapitalmarkets.com

What Do They Do?

Operates a Marriott-branded hotel offering rooms, food and beverages to hotel guests.

How Do They Make Money?

Hotel guests pay a daily room rate at checkout; the hotel also earns revenue from separately purchased food, beverages and other services.

revenue

Segment	Share	How money arrives
Room Revenue Usage-based	69%	Usage-based
Food Beverage And Other Revenue Sold outright	31%	Sold outright
Hotel	100%

Who Are Their Customers?

Hotel guests pay to stay in rooms and can separately purchase food, beverages and other services at the hotel.

Do Revenues Turn Into Profits?

No. It lost $3.7M in FY2025.

Net income, FY2025

−12% of revenue

▼ −54% (Loss) vs FY2024 (−$8M, −27%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▼ −1%; vs $8.6M in Q2 FY2025
Net income: ▲ +397%; vs $117K in Q2 FY2025

Growing. Revenue grew 31% in 2 years, from $23.3M in FY2023 to $30.5M in FY2025, about 14% a year.

From construction to hotel operations The older report describes the hotel as under construction; the latest describes it as an operating hotel that has opened and serves guests.

Revenue over time

Room Revenue Food Beverage And Other Revenue Hotel

$50M$25M$0

FY2023 FY2024 FY2025

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