InnSuites Hospitality Trust Reports Earnings Results for the Third Quarter and Nine Months Ended October 31, 2022
December 15, 2022 at 03:51 am IST
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InnSuites Hospitality Trust reported earnings results for the third quarter and nine months ended October 31, 2022. For the third quarter, the company reported sales was USD 1.67 million compared to USD 1.65 million a year ago. Revenue was USD 1.7 million compared to USD 1.69 million a year ago. Net income was USD 0.095165 million compared to net loss of USD 0.266212 million a year ago. Basic earnings per share from continuing operations was USD 0.01 compared to basic loss per share from continuing operations of USD 0.03 a year ago.
For the nine months, sales was USD 5.42 million compared to USD 4.61 million a year ago. Revenue was USD 5.54 million compared to USD 4.76 million a year ago. Net income was USD 0.371213 million compared to net loss of USD 0.431896 million a year ago. Basic earnings per share from continuing operations was USD 0.04 compared to basic loss per share from continuing operations of USD 0.05 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.
INNSUITES HOSPITALITY TRUST 