Core Insights - InnSuites Hospitality Trust (IHT) reported a consolidated net income before non-cash depreciation expense of 2.3 million, representing a 4% growth compared to the same period last year [13] - IHT's hotel operations have shown strong results, contributing to a solid start in the current fiscal year, with record revenues from both the Tucson and Albuquerque hotels [14][16] Financial Performance - Total consolidated fiscal first quarter net income remained positive at $86,598, reflecting the company's ongoing profitability [7] - The fiscal year 2025 marks the continuation of IHT's uninterrupted annual dividends for 54 years, with semiannual dividends paid on February 5, 2024, and anticipated for July 31, 2024 [10] Strategic Investments - IHT made a diversification investment in UniGen Power, Inc., a company focused on clean energy generation, which is expected to see increased demand due to the rise of electric vehicles and artificial intelligence [2] - IHT holds convertible bonds and warrants in UniGen, which could lead to an ownership stake of approximately 20% or more if fully exercised [2] Market Outlook - The management of IHT believes that the real estate held on its books is valued significantly below current market value, combined with the high profit potential from clean energy diversification, suggests a bright future for the company [3] - The travel industry, including IHT, continues to grow and thrive, indicating positive market conditions for the company's operations [8]
IHT Q1 HOTEL REVENUES ACHIEVE RECORD RESULTS