Phoenix, AZ, June 18, 2026 (GLOBE NEWSWIRE) -- InnSuites Hospitality Trust (NYSE American: IHT) achieved Fiscal First Quarter Consolidated Net Income profitability of $74,702, which is a modest improvement of $35,672, over the prior year Fiscal First Quarter. IHT reported record Hotel Revenue results of approximately $2.2 million in the Fiscal First Quarter of 2027 (February 1, 2026, to April 30, 2026).
Consolidated Net Income before non-cash items of depreciation and non-cash Best Western Travel Rewards credit expenses was $307,326 for the 2027 First Fiscal Quarter ended April 30, 2026 (February 1, 2026, through April 30, 2026).
Combined Hotel Occupancy jumped to 85.37%, while the Revenue Per Available Room and Suites (REVPAR), modestly increased to $88.23.
IHT hotel operations were strong in the 2026 Fiscal Year ended January 31, 2026, and are contributing to a solid start in the current 2027 Fiscal Year. Combined Hotel May Revenue for both hotels was $652,786, which led to total Hotel Revenue of approximately $2.9 million for the First Four Fiscal Months of Fiscal 2027, a new combined record level. IHT's strong hotel operating results are reflected in three of the five most recent Fiscal Years profitable, even after accounting for substantial non-cash depreciation expense. These are positive signs for InnSuites, as progress remains strong, despite early 2026 Travel Industry uncertainty.
InnSuites Hospitality Trust continues to explore diversification opportunities and opportunities to increase Equity, potentially including a reverse merger, which is of high interest.
RRF LLLP, the 76% owned subsidiary Management Company for IHT, manages the IHT Hotels, and InnDependent Boutique Collection (IBC Hotels, LLC). IBC is a diversification opportunity for IHT.
In the process of ownership and management of branded and unbranded hotels, IHT recognized an unfulfilled need to provide hotel reservations, branding, and hotel services for global independent hotels, which at the time and still represent half the hotels in the world. In February 2014, IHT founded IBC Hotels, LLC to exploit this unfulfilled opportunity, developing reservations, branding, and related hotel services doing business as "InnDependent Boutique Collection "(IBC Hotels). Initial success in providing reservations for an IHT operated independent hotel was substantial. As this independent hotel services opportunity and the size of this potential demand was increasingly recognized in the travel industry, IBC Hotels was sold in August 2018 to a foreign hotel company planning expansion of independent hotel reservations and services internationally. IBC growth slowed in 2020 with the Covid Travel shutdown.
On March 5, 2025, REF, an investment entity owned by the chairman and family of IHT majority IHT shareholder, purchased IBC Hotels, LLC, and hired RRF LLLP, the management company subsidiary of InnSuites Hospitality Trust (IHT), to manage the rebirth of IBC, to benefit from the substantial unfulfilled need worldwide for independent hotel and resort reservations, Boutique branding, and related hotel services. In the process, RRF LLLP, obtained a five-year option to purchase, at cost, IBC Hotels, LLC. This option is believed to provide IHT a valuable upside opportunity, if successful, to profit from the revitalization of InnDependent Boutique Collection (IBC Hotels).
With the continued growing demand for electricity from data centers plus the influx of electric vehicles, as well as projected growing needs for artificial intelligence, increased demand for electricity over the next five years is projected to approximately double, which bodes well for the IHT investment in UniGen Power, Inc. This product is a potentially power industry disruptive relatively clean energy cost effective electric generation innovation, and even though it is high risk, it offers IHT substantial high upside potential.
On February 20, 2026, James Wirth was elected Chairman, CEO, and President of UniGen, while Marc Berg was elected as Vice Chairman, EVP, and Secretary/Treasurer of UniGen, with plans to rejuvenate the UniGen progress to benefit all the UniGen debt and equity holders, including IHT. Target date for the first two prototype engines to be ready for testing is in less than two years.
IHT management believes that due to real estate held on the books of IHT at book values significantly below current market value, due to clean energy diversification high profit potential ahead, IBC independent hotel services prospects, a potential reverse merger possibility, and improving hospitality profitability before non-cash depreciation and other non-cash items, the IHT future looks bright.
Our most recent dividend at the start of the current Fiscal Year 2027 extended IHT's uninterrupted, continuous annual dividends to 56 years, since 1971, when IHT was first listed on the NYSE.
For more information, visit www.innsuitestrust.com and www.innsuites.com.
Forward-Looking Statements
With the exception of historical information, matters discussed in this news release may include "forward-looking statements" within the meaning of the federal securities laws. All statements regarding IHT's review and exploration of a potential reverse merger, strategic, operational, and structural alternative diversification investments, increasing equity, and expected associated costs and benefits are forward-looking. Actual developments and business decisions may differ materially from those expressed or implied by such forward-looking statements. Important factors, among others, that could cause IHT's actual results and future actions to differ materially from those described in forward-looking statements include economic effects of international conflicts as well as tariffs, the uncertain outcome, impact, effects and results of IHT's success in finding qualified purchasers for its hospitality real estate, or a reverse merger partner, the success of additional financing increasing equity, and timing of the UniGen clean energy and other potential diversification innovations, the continuation of annual dividends in the year(s) ahead, collections of receivables, and other risks discussed in IHT's SEC filings. IHT expressly disclaims any obligation to update any forward-looking statement contained in this news release to reflect events or circumstances that may arise after the date hereof, all of which are expressly qualified by the foregoing, other than as required by applicable law.
FOR FURTHER INFORMATION:
Marc Berg, Executive Vice President
602-944-1500
email: mberg@innsuites.com
INNSUITES HOSPITALITY CENTRE
1730 E. NORTHERN AVENUE, #122
Phoenix, Arizona 85020
Phone: 602-944-1500
