Iht fiscal first quarter record revenue; increases in iht ownership by key individuals
Phoenix, az, june 06, 2022 (globe newswire) -- innsuites hospitality trust (nyse american : iht) fiscal q1 results will be reported soon, confirming a continuation of iht strong quarterly resurgence, with revenues achieving an all-time record high for the quarter. combined revenue for hotel operations have tentatively exceeded $2.1 million for the fiscal first quarter (february 1, 2022, through april 30, 2022), with final totals to be announced in the coming weeks. this represents a 50% increase from the prior fiscal first quarter (february 1, 2021, through april 30, 2021), of $1.4 million. furthermore, the month of may has also started the second fiscal quarter (may 1, 2022, through july 31, 2022), with equally record-breaking tentative results, surpassing the maximum combined hotel revenue ever achieved by innsuites, with a new may standard of approximately $600,966, which is an increase of 159% compared to may of 2021, which recorded combined revenues of approximately $232,499.
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