SOURCE: InnSuites Hospitality Trust

April 29, 2016 18:16 ET

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