InnSuites Hospitality Trust (IHT) Reports Sharp Increased Earnings, Profit and Digital Operations
April 29 2016 - 6:16PM
Marketwired
InnSuites Hospitality Trust (IHT) Reports Sharp Increased
Earnings, Profit and Digital Operations
PHOENIX, AZ-(Marketwired - Apr 29, 2016) - InnSuites Hospitality
Trust ("IHT") (NYSE MKT: IHT) reported Consolidated Net Income of
$339,000 for the fiscal year ended January 31, 2016 compared to a
Consolidated Net Loss of $2,241,000 in the prior fiscal year, an
improvement of over $2,580,000. Included is non-cash depreciation
expense of approximately $1.18 million and approximately $1.78
million for the fiscal years ended January 31, 2016 and 2015,
respectively. When the earnings from ongoing operations are added
to the earnings from discontinued operations, the Trust saw a solid
profit and increased profits from prior fiscal year.
The InnDependent Boutique Collection ("IBC") division of IHT
recently purchased International Vacation Hotels ("IVH") which
provides substantial organic and acquired growth in the digital
marketing space.
InnSuites Hospitality Trust has been named in the LUX 2016
Hospitality Awards as Best Independent Hotel Booking Agency - USA
& Most Innovative Travel Rewards Program: InnDependent
InnCentives. Says Pamela Barnhill, InnDependent InnCentives
Founder, "One of our many software creations, we are proud to have
developed our own technology to serve the needs of hoteliers and
guests globally in a smart easy hotel loyalty program."
IBC, the leading independent and boutique hotel provider, is
pleased to announce it now offers independent hoteliers direct
connection with Omnibees, an online distribution platform.
Additionally, Ms. Barnhill was recently named as a finalist in
2016 EY Entrepreneur of the Year program.
For more information, visit www.ibchotels.com and
www.ibcmembers.com
With the exception of historical information, the matters
discussed in this news release may include "forward-looking
statements" within the meaning of the federal securities laws.
Forward-looking statements are not guarantees of future performance
due to numerous risks and uncertainties and are described in
greater detail in our filings with the Securities and Exchange
Commission. Although we believe our current expectations to be
based upon reasonable assumptions, we can give no assurance that
our expectations will be attained.
For more information visit www.innsuitestrust.com or
www.sec.gov.
Contact Information
FOR FURTHER INFORMATION: Marc Berg Executive Vice President
602-944-1500 email: mberg@innsuites.com
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