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News Breaks | | | | September 16, 2012 | | 21:06 EDT |  | IHT | InnSuites Hospitality Trust reports improved 1H results
IHT reported revenues from hotel operations, which include Room, Food and Beverage, Telecommunications and Other revenues, increased 3.4% to $8.2M for the six months ended July 31, from $7.9M for the six months ended July 31, 2011. Net loss attributable to controlling interest improved by $87,000 for the six month period ended July 31, 2012 to a loss of $222,000, or $0.03 per basic share, from a loss of $309,000, or 4c per basic share, during the six months ended July 31, 2011. Occupancy was 68.51% for the six months ended July 31, an increase of 3.66% from the prior year period. ADR decreased $3.33, or 4.6%, to $69.58. The decrease in ADR and increased occupancy resulted in an increase of $0.39 in REVPAR to $47.67 from $47.28 in the prior year period. | |
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