InnSuites Hospitality Trust Results

InnSuites Hospitality Trust (IHT) Revenues, Net Income, Cash and Net Income Per Share Grow

InnSuites Hospitality Trust

InnSuites Hospitality Trust reported revenues of approximately $5.46 million for the six months ended July 31, 2017 compared to revenues of approximately $4.70 million for the six months ended July 31, 2016, an improvement of approximately $760,000 or 16%. Consolidated Net Income was approximately $9.56 million for the six months ended July 31, 2017 compared with a small net loss for the six months ended July 31, 2016, an improvement in reported earnings of approximately $9.81 million.

Included in consolidated net income was non-cash depreciation expense of approximately $604,000 for the six months ended July 31, 2017 compared to $161,000 for the six months ended July 31, 2016. Reported net income per share was $0.97 for the six months ended July 31, 2017 compared with a net loss per share of ($0.03) for the six months ended July 31, 2016. As of September 14, 2017, IHT's closing stock price was $1.58. The first fiscal six months improved results were due in part to the sale of one of the Trusts' hotel asses which was carried on the accounting books significantly below the sales/market price. Management believes that its other hotels assets as well as its IBC Hotels technology division are also carried at a book value significantly below the market value.

As of July 31, 2017, cash on hand was $7.5 million as compared to $478,000 as of January 31, 2017.

As of September, 1, 2017, InnSuites corporate office moved into a new more spacious building located at 1730 E Northern Avenue, Suite 122 Phoenix, Arizona 85020. The additional space and capacity is for our fast-growing technology division, IBC Hotels. 



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