Hotel, cinema and resort operator Event Hospitality & Entertainment plunged to its worst annual result in more than 30 years after COVID-19 restrictions "almost entirely" wiped out revenue in the final four months of the past financial year.

The 110-year-old company, which owns the Event cinema chain and operates one of the country's biggest hotel business across brands such as QT, Rydges and Atura (as well as operating the Thredbo alpine resort) was arguably the ASX-listed real estate operator most exposed to the pandemic and subsequent government restrictions.