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.
These Quarterly and Monthly tentative results, to be officially confirmed in the coming weeks, continue to bode well for the hotel industry, the travel industry, and specifically InnSuites. It has prompted Key Personnel to increase their IHT Beneficial Ownership Interest. The Trust President/Chairman/CEO James Wirth, has recently purchased an additional 5,000 shares of stock within the Open Trading Window for the Trust on May 31, 2022.
Likewise, another member of the Board of Trustees,…
