NYSE AMEX:IHT Phoenix, Arizona
85020
FOR
FURTHER INFORMATION:
602-944-1500
email: mberg@innsuites.com
INNSUITES HOSPITALITY
TRUST (IHT) IMPROVED THIRD QUARTER RESULTS
IHT reported
operating income of $45,000 for the nine months ended October 31, 2011, an increase
of $715,000 from the prior year period operating loss of $(670,000). For the third fiscal quarter ended October
31, 2011, the Trust reported an operating loss of $(292,000), an improvement of
$201,000 from the prior year period operating loss of $(493,000).
The Trust reported revenue of $12.7 million for the nine months ended October 31, 2011, an increase of 7.9% from $11.8 million for the prior year period. The Trust reported revenue of $3.6 million for the three months ended October 31, 2011, an increase of 9.3% from $3.3 million for the prior year period.
With the exception of historical information,
the matters discussed in this news may release 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