InnSuites Hospitality Trust Reports Earnings Results for the Second Quarter and Six Months Ended July 31, 2023
September 14, 2023 at 04:25 pm EDT
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InnSuites Hospitality Trust reported earnings results for the second quarter and six months ended July 31, 2023. For the second quarter, the company reported sales was USD 1.69 million compared to USD 1.66 million a year ago. Revenue was USD 1.72 million compared to USD 1.7 million a year ago. Net income was USD 0.018855 million compared to USD 0.102527 million a year ago.
For the six months, sales was USD 3.86 million compared to USD 3.75 million a year ago. Revenue was USD 3.93 million compared to USD 3.84 million a year ago. Net income was USD 0.245661 million compared to USD 0.283605 million a year ago. Basic earnings per share from continuing operations was USD 0.03 compared to USD 0.03 a year ago.
InnSuites Hospitality Trust (the Trust) is a real estate investment trust. The Trust is engaged in hotel operations and hotel management services. It owns interests in two hotels, operates and provides management services, and provides trademark license services for two hotels. The two hotels have an aggregate of 270 hotel suites and operate as moderate-service hotels that offer a value studio and two-room suite. Its hotels offer services such as swimming pools, fitness centers, business centers and complimentary breakfast. It offers a free hot breakfast plus amenities such as microwave ovens, refrigerators, coffee makers, and free high-speed Internet access. The hotels also offer complementary social areas and modest conference facilities. The hotels are operated under the federally trademarked name InnSuites as well as under the brand name Best Western. Its subsidiaries include RRF Limited Partnership, Tucson Hospitality Properties, L.L.L.P., and Albuquerque Suite Hospitality LLC.