Civeo(CVEO) - 2022 Q4 - Annual Report

During the year ended December 31, 2022, revenues from our lodges and villages represented over 62% of our consolidated revenues. Our contract terms generally provide for a rental rate for a reserved room and an occupied room rate that compensates us for hospitality services, including meals, housekeeping, utilities and maintenance for workers staying in the lodges and villages. In most multiyear contracts, our rates typically have annual escalation provisions to cover expected increases in labor and consum ...