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Innsuites Hospitality Trust (IHT) provides investors and hospitality professionals with essential updates through this centralized news resource. Track official announcements across all operational segments including hotel management, trademark licensing agreements, and REIT portfolio developments.
This page aggregates critical updates including quarterly earnings reports, property acquisitions, brand partnership expansions, and executive leadership changes. Discover strategic initiatives tied to IHT's Best Western affiliates and IBC Hotels boutique collection through verified press releases.
Key content categories include operational performance metrics, management service updates, licensing agreements, and industry event participation. Bookmark this page for streamlined access to decision-critical information about one of hospitality's unique vertically integrated REITs.
InnSuites Hospitality Trust (IHT) reported a Fiscal First Quarter profit of $157,161, an increase of over $500,000 from the prior year's loss of ($352,857). Revenues remained steady at approximately $1.4 million. Basic earnings per share improved to ($0.01) from ($0.04) year-over-year. The Trust's strategic focus on diversification includes a $1 million investment in UniGen Power, Inc., with potential ownership of up to 25%. IHT's extended dividend history continues, with approvals expected for July 2021 and January 2022.
InnSuites Hospitality Trust (IHT) reported a significant decline in fiscal year 2021 revenues, totaling approximately $4.203 million compared to $6.568 million in the prior year due to the impact of the Covid-19 pandemic. Basic earnings per share fell to ($0.31) from ($0.21). However, fourth-quarter revenues showed stability compared to the previous quarter. The company is advancing its diversification strategy with a notable investment in UniGen Power, Inc., potentially owning up to 25% of the firm, as development on clean energy prototypes progresses.
InnSuites Hospitality Trust (IHT) reported fiscal 2021 Q3 revenues of approximately $1 million, down from $1.497 million in the same period last year, largely due to the impact of the Covid-19 pandemic. Basic earnings per share for Q3 were ($0.08), an improvement from ($0.14) in Q2 2021. Despite the decline, there are indications of economic recovery in Q3, with revenues increasing by $30,000 from Q2 2021. IHT also holds a significant stake in UniGen Power, Inc. and remains compliant with NYSE-American and SEC filing requirements.
InnSuites Hospitality Trust (IHT) reported fiscal 2021 Q2 revenues of approximately $1 million, down from $1.54 million year-over-year, affected by the Covid-19 pandemic. Basic earnings per share were ($0.14), compared to ($0.05) in Q2 2020. The company has a $1 million bond investment in UniGen Power, Inc., potentially leading to a 25% ownership stake. CEO James Wirth expressed confidence in UniGen's progress despite pandemic challenges. IHT's stock is perceived to be undervalued due to a tight float and current low book values compared to market potential.
Innsuites Hospitality Trust (IHT) received an extension from NYSE American for filing its Form 10-Q for the periods ending July 31 and October 31, 2020, initially due by February 15, 2021. The delay was attributed to COVID impacting key personnel. IHT has requested a further extension until April 15, 2021, to comply with listing requirements. Additionally, IHT is making progress on its clean energy project with Unigen Power Inc, which is on track for a prototype completion by June 30, 2021. The current notice does not impact the trading of IHT shares.
InnSuites Hospitality Trust (IHT) reported fiscal Q1 revenues of approximately $1.45 million, down from $2.09 million year-over-year. Basic earnings per share were (0.04), compared to (0.03) the previous year. The company invested $1 million in UniGen Power, Inc. (UPI) to develop a clean energy innovation. UPI is on budget, expecting its first prototype by April 2021. IHT will pay a semi-annual dividend of $0.01, continuing its 50-year dividend history. CEO James Wirth expressed confidence in the company's future despite current challenges.
On January 5, 2021, InnSuites Hospitality Trust (NYSE American: IHT) announced a semi-annual dividend of $0.01 per share, payable on January 29, 2021, to shareholders recorded as of January 15, 2021. This marks the continuation of a 50-year history of uninterrupted dividends. In 2019, IHT invested $1 million in Unigen Power Inc, which is reportedly on track with its development and budget. The press release includes forward-looking statements about potential future operations and strategies, highlighting uncertainty in the hospitality market due to various risks.
InnSuites Hospitality Trust (IHT) reported a fiscal year 2020 revenue increase of 6.5%, reaching $6.57 million compared to $6.17 million in FY2019. However, a consolidated net loss of approximately $2.0 million was recorded, starkly contrasting with a net income of $11.1 million in FY2019, boosted by the sale of profitable assets. Despite operational improvements, IHT anticipates declines in revenue and earnings due to COVID-19 impacts on the hospitality sector. The company maintains its dividend strategy, having paid semi-annual dividends for 50 consecutive years.
InnSuites Hospitality Trust (NYSE American: IHT) received a notice from NYSE Regulation on July 1, 2020, indicating non-compliance with continued listing standards due to the failure to file its Annual Report on Form 10-K for the year ending January 31, 2020. The Trust is actively working to submit the delinquent report and expects to file it by July 20, 2020. The NYSE notice does not currently affect the trading of IHT shares.
On July 6, 2020, InnSuites Hospitality Trust (IHT) announced a dividend of $0.01 per share, marking its 50th consecutive annual dividend. This dividend is payable on July 31, 2020 to shareholders of record by July 16, 2020. The announcement underscores the Trust's commitment to returning value to shareholders despite ongoing economic uncertainties and challenges in the hospitality industry.
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