Skyline Investments Inc. (the 'Company' or 'Skyline') (TASE: SKLN), a Canadian company that specializes in hospitality real estate investments in the United States and Canada, published its results for the year ended December 31, 2020.

'COVID-19 presented new and unprecedented challenges in 2020 to the world economy, which directly affected Skyline's properties. Nonetheless, Skyline was able to achieve positive EBITDA in fiscal 2020' commented Blake Lyon, Skyline's Chief Executive Officer. 'During 2020, Skyline, along with the entire hospitality industry, experienced a material downturn in occupancy at all of our hotels and resort. Management responded with significant cost reductions and managed its cash very closely. Skyline participated in certain Canadian and US government relief programs that assisted the Company's cash flow. Our balance sheet strength, combined with Government relief programs helped Skyline in its efforts to reduce the effects of COVID-19 and the Company is making all required interest and principal payments.'

About Skyline

Skyline is a Canadian company that specializes in hospitality real estate investments in the United States and Canada. The Company currently owns 18 income-producing assets with 3,282 hotel rooms and 85,238 square feet of commercial space, and development lands with rights for approximately 2,315 residential units located in three main areas north of Toronto, Canada. The Company is traded on the Tel Aviv Stock Exchange (ticker: SKLN) and is a reporting issuer in Canada.

Contact:

Tel: 1 (647) 207-5312

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