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Globe and Mail
8 hours ago
- Business
- Globe and Mail
IHT Q1 HOTEL REVENUES EXCEED $2.2 MILLION; IBC MANAGEMENT OBTAINED
Phoenix, AZ, June 20, 2025 (GLOBE NEWSWIRE) -- InnSuites Hospitality Trust (NYSE American: IHT) reported Hotel Revenue results surpassing $2 million once again in the First Fiscal Quarter of 2026, (February 1, 2025, to April 30, 2025), with Total Revenue of approximately $2.2 million. Consolidated Net Income before non-cash depreciation expense was $221,330 for the 2026 First Fiscal Quarter ended April 30, 2025 (February 1, 2025, through April 30, 2025). Total Consolidated Fiscal First Quarter Net Income remained positive, at $39,030. IHT hotel operations were strong in the 2025 Fiscal Year ended January 31, 2025, and are contributing to a solid start in the current 2026 Fiscal Year. Combined Hotel May Revenue for both hotels was a notable $632,584, which has led to another remarkable Hotel Revenue amount of $2,838,347 for the first four Fiscal Months of Fiscal Year 2026. These are positive signs for InnSuites, as progress continues strong, while the Travel Industry in general, flattens. InnSuites Hospitality Trust (IHT), in late 2019, made a diversification investment in new development privately held UniGen Power, Inc. (UniGen), a company developing a patented, high profit potential, efficient clean energy generation innovation. With the continued strong demand from data centers, and added influx and popularity of electric cars, as well as growing projections for artificial intelligence, demand for electricity over the next five years is projected to approximately double. IHT holds convertible bonds and warrants that, if fully exercised, could result in IHT holding an approximately up to 15-20% or more ownership stake in UniGen. UniGen is currently concentrating on its next round of capital raising, in which IHT may participate. UniGen is a high-risk, clean, efficient, diversification investment, offering high potential investment return if and when successful. RRF LLLP, the Management Company for IHT, has recently become the Management Company for InnDependent Boutique Collection (IBC Hotels, LLC). This is another new diversification opportunity IHT may participate in further, in the future. In the process of ownership and management of branded and unbranded hotels, IHT recognized an unfulfilled need to provide hotel reservations, branding, and hotel services for global independent hotels, which at the time and still represent half the hotels in the world. In February 2014, IHT founded IBC Hotels, LLC to explore this unfulfilled opportunity, developing reservations, branding, and related hotel services doing business as 'InnDependent Boutique Collection '(IBC Hotels). Initial success in providing reservations for an IHT operated independent hotel was substantial. As this independent hotel services opportunity and the size of this potential demand was increasingly recognized in the travel industry, IBC Hotels was sold in August 2018 to a foreign hotel company planning expansion of independent hotel reservations and services internationally. The new owner added additional hotels to the reservation system, further developed, updated, and improved then-existing software, and pursued an agreement with a large international internet hotel guest source. When Covid hit in early 2020 and travel virtually briefly, but almost completely came to a standstill in March 2020, the new owner was not in a position to continue operations pausing IBC Hotels reservation services. On March 5, 2025, REF , an investment entity owned by the chairman and family of IHT majority IHT shareholder, purchased IBC Hotels, LLC, and hired RRF LLLP, the management company subsidiary of InnSuites Hospitality Trust (IHT), to manage the rebirth of IBC, to benefit from the substantial unfulfilled need worldwide for independent hotel and resort reservations, Boutique branding, and related hotel services. In the process, RRF LLLP, a 76% owned subsidiary of IHT and manager of IHT hotels, was engaged as manager of IBC obtaining a five-year option to purchase, at cost, IBC Hotels, LLC. This option is believed to provide IHT a valuable opportunity, if successful, to profit from the revitalization of InnDependent Boutique Collection (IBC Hotels). IHT management believes that due to real estate held on the books of IHT at book values believed to be significantly below current market value and due to the high clean energy and IBC diversification profit potential ahead, the IHT future looks bright. IHT's strong hotel operating results are reflected in three of the four most recent Fiscal Years profitable, even after accounting for substantial non-cash depreciation expense. Fiscal Year 2026 extended IHT's uninterrupted, continuous annual dividends to 55 years, since initial NYSE listing in 1971. Semi-annual dividends were paid February 5, 2025, and are anticipated for August 4, 2025. The IHT Annual Shareholder Meeting has been announced, and will be held at the IHT Phoenix Corporate Office, on August 14, 2025, at 1 PM. For more information, visit and Forward-Looking Statements With the exception of historical information, matters discussed in this news release may include 'forward-looking statements' within the meaning of the federal securities laws. All statements regarding IHT's review and exploration of potential strategic, operational, and structural alternative diversification investments, and expected associated costs and benefits are forward-looking. Actual developments and business decisions may differ materially from those expressed or implied by such forward-looking statements. Important factors, among others, that could cause IHT's actual results and future actions to differ materially from those described in forward-looking statements include economic effects of tariffs, the uncertain outcome, impact, effects and results of IHT's success in finding qualified purchasers for its hospitality real estate, or a reverse merger partner, the success of additional financing and timing of the UniGen clean energy, IBC, and other potential diversification innovations, the continuation of semi-annual dividends in the year(s) ahead, collections of receivables, and other risks discussed in IHT's SEC filings. IHT expressly disclaims any obligation to update any forward-looking statement contained in this news release to reflect events or circumstances that may arise after the date hereof, all of which are expressly qualified by the foregoing, other than as required by applicable law. FOR FURTHER INFORMATION: Marc Berg, Executive Vice President 602-944-1500 email: mberg@ INNSUITES HOTEL CENTRE 1730 E. NORTHERN AVENUE, #122 Phoenix, Arizona 85020 Phone: 602-944-1500
Yahoo
9 hours ago
- Business
- Yahoo
IHT Q1 HOTEL REVENUES EXCEED $2.2 MILLION; IBC MANAGEMENT OBTAINED
Phoenix, AZ, June 20, 2025 (GLOBE NEWSWIRE) -- InnSuites Hospitality Trust (NYSE American: IHT) reported Hotel Revenue results surpassing $2 million once again in the First Fiscal Quarter of 2026, (February 1, 2025, to April 30, 2025), with Total Revenue of approximately $2.2 million. Consolidated Net Income before non-cash depreciation expense was $221,330 for the 2026 First Fiscal Quarter ended April 30, 2025 (February 1, 2025, through April 30, 2025). Total Consolidated Fiscal First Quarter Net Income remained positive, at $39,030. IHT hotel operations were strong in the 2025 Fiscal Year ended January 31, 2025, and are contributing to a solid start in the current 2026 Fiscal Year. Combined Hotel May Revenue for both hotels was a notable $632,584, which has led to another remarkable Hotel Revenue amount of $2,838,347 for the first four Fiscal Months of Fiscal Year 2026. These are positive signs for InnSuites, as progress continues strong, while the Travel Industry in general, flattens. InnSuites Hospitality Trust (IHT), in late 2019, made a diversification investment in new development privately held UniGen Power, Inc. (UniGen), a company developing a patented, high profit potential, efficient clean energy generation innovation. With the continued strong demand from data centers, and added influx and popularity of electric cars, as well as growing projections for artificial intelligence, demand for electricity over the next five years is projected to approximately double. IHT holds convertible bonds and warrants that, if fully exercised, could result in IHT holding an approximately up to 15-20% or more ownership stake in UniGen. UniGen is currently concentrating on its next round of capital raising, in which IHT may participate. UniGen is a high-risk, clean, efficient, diversification investment, offering high potential investment return if and when successful. RRF LLLP, the Management Company for IHT, has recently become the Management Company for InnDependent Boutique Collection (IBC Hotels, LLC). This is another new diversification opportunity IHT may participate in further, in the future. In the process of ownership and management of branded and unbranded hotels, IHT recognized an unfulfilled need to provide hotel reservations, branding, and hotel services for global independent hotels, which at the time and still represent half the hotels in the world. In February 2014, IHT founded IBC Hotels, LLC to explore this unfulfilled opportunity, developing reservations, branding, and related hotel services doing business as 'InnDependent Boutique Collection '(IBC Hotels). Initial success in providing reservations for an IHT operated independent hotel was substantial. As this independent hotel services opportunity and the size of this potential demand was increasingly recognized in the travel industry, IBC Hotels was sold in August 2018 to a foreign hotel company planning expansion of independent hotel reservations and services internationally. The new owner added additional hotels to the reservation system, further developed, updated, and improved then-existing software, and pursued an agreement with a large international internet hotel guest source. When Covid hit in early 2020 and travel virtually briefly, but almost completely came to a standstill in March 2020, the new owner was not in a position to continue operations pausing IBC Hotels reservation services. On March 5, 2025, REF , an investment entity owned by the chairman and family of IHT majority IHT shareholder, purchased IBC Hotels, LLC, and hired RRF LLLP, the management company subsidiary of InnSuites Hospitality Trust (IHT), to manage the rebirth of IBC, to benefit from the substantial unfulfilled need worldwide for independent hotel and resort reservations, Boutique branding, and related hotel services. In the process, RRF LLLP, a 76% owned subsidiary of IHT and manager of IHT hotels, was engaged as manager of IBC obtaining a five-year option to purchase, at cost, IBC Hotels, LLC. This option is believed to provide IHT a valuable opportunity, if successful, to profit from the revitalization of InnDependent Boutique Collection (IBC Hotels). IHT management believes that due to real estate held on the books of IHT at book values believed to be significantly below current market value and due to the high clean energy and IBC diversification profit potential ahead, the IHT future looks bright. IHT's strong hotel operating results are reflected in three of the four most recent Fiscal Years profitable, even after accounting for substantial non-cash depreciation expense. Fiscal Year 2026 extended IHT's uninterrupted, continuous annual dividends to 55 years, since initial NYSE listing in 1971. Semi-annual dividends were paid February 5, 2025, and are anticipated for August 4, 2025. The IHT Annual Shareholder Meeting has been announced, and will be held at the IHT Phoenix Corporate Office, on August 14, 2025, at 1 PM. For more information, visit and Forward-Looking Statements With the exception of historical information, matters discussed in this news release may include 'forward-looking statements' within the meaning of the federal securities laws. All statements regarding IHT's review and exploration of potential strategic, operational, and structural alternative diversification investments, and expected associated costs and benefits are forward-looking. Actual developments and business decisions may differ materially from those expressed or implied by such forward-looking statements. Important factors, among others, that could cause IHT's actual results and future actions to differ materially from those described in forward-looking statements include economic effects of tariffs, the uncertain outcome, impact, effects and results of IHT's success in finding qualified purchasers for its hospitality real estate, or a reverse merger partner, the success of additional financing and timing of the UniGen clean energy, IBC, and other potential diversification innovations, the continuation of semi-annual dividends in the year(s) ahead, collections of receivables, and other risks discussed in IHT's SEC filings. IHT expressly disclaims any obligation to update any forward-looking statement contained in this news release to reflect events or circumstances that may arise after the date hereof, all of which are expressly qualified by the foregoing, other than as required by applicable law. FOR FURTHER INFORMATION: Marc Berg, Executive Vice President 602-944-1500 email: mberg@ INNSUITES HOTEL CENTRE1730 E. NORTHERN AVENUE, #122Phoenix, Arizona 85020Phone: 602-944-1500Sign in to access your portfolio
