Pirate Properties is a chain of extended stay hotel properties. The chain has 15 properties with an average of 200 rooms in each property. In 2019, the occupancy rate (number of rooms filled divided by the number of rooms available) was 70 percent, based on a 365-day year. The average room rate was $180 for a night.

The operating income for 2019 is as follows: Pirate Properties Income Statement 2019 Sales Revenue: Lodging $137,970,000 Food & beverage 19,162,500 Miscellaneous 7,665,000 Total Revenues $164,797,500 Costs: Labor $ 44.325,000 Food & Beverage 13,797,000 Miscellaneous 9,198,000 Management 2,500,000 Utilities 37,500,000 Depreciation 10,500,000 Marketing 25,000,000 Other Costs 8,000,000 Total Costs $ 150.820,000 Operating Profit $ 13,977,500