Lightstone Value Plus REIT I Reports Q1 2026 Financial Results with Revenue Growth and Improved Net Loss

Lightstone Value Plus REIT I, Inc. reported its financial results for the first quarter of 2026, revealing total revenues of $12.54 million, a slight increase from $12.37 million in the same period of 2025. The growth was primarily driven by a rise in hotel revenues, which reached $9.65 million, up from $9.54 million year-over-year. Rental revenues also saw a modest increase, totaling $2.89 million compared to $2.83 million in the prior year. Despite the revenue growth, the company recorded a net loss of $4.35 million, an improvement from the $8.12 million loss reported in the first quarter of 2025.

The company's total expenses for the quarter increased to $12.77 million from $12.42 million in the previous year, largely due to higher hotel operating expenses, which rose to $8.30 million from $7.86 million. The increase in expenses was attributed to rising utility costs at the Lower East Side Moxy Hotel. Additionally, interest expense decreased significantly to $4.39 million from $6.58 million, reflecting the impact of refinancing efforts and the extinguishment of certain mortgage debts.

In terms of operational developments, Lightstone continues to manage a diverse portfolio, including the Lower East Side Moxy Hotel and Gantry Park Landing, a luxury multifamily property. The Moxy Hotel reported an average daily rate (ADR) of $212.94 and a revenue per available room (RevPAR) of $182.44, indicating strong performance despite a slight decrease in occupancy rates to 86%. The company also made capital contributions of $1.94 million to its joint ventures during the quarter, reflecting ongoing investment in its growth strategy.

As of March 31, 2026, Lightstone's total assets amounted to $381.85 million, a decrease from $387.69 million at the end of 2025. The company’s cash and cash equivalents stood at $59.22 million, down from $61.83 million. The total liabilities were reported at $231.19 million, slightly lower than $231.61 million at the end of the previous fiscal year. Looking ahead, Lightstone remains focused on maintaining its REIT status and managing its liquidity, with plans to utilize its cash reserves and marketable securities to meet operational needs and potential distributions to shareholders. The company is also exploring opportunities for further acquisitions and investments to enhance its portfolio.