Phoenix, AZ, Jan. 18, 2018 (GLOBE NEWSWIRE) -- InnSuites Hospitality Trust (NYSE American: IHT)
InnSuites Hospitality Trust (IHT) is in full compliance with the NYSE American continued listing standards as of January 11, 2018 as confirmed by the NYSE American exchange as the Trusts’ shareholder equity exceeds the minimum requirements. James Wirth, CEO stated “we are pleased with the financial strength of IHT, increasing technology division revenues and strong hotel division earnings all of which combined indicate a strong performance for the IHT fiscal year ending January 31, 2018. We are also pleased to provide a dividend payment at the end of January 2018 which has doubled this fiscal year representing an uninterrupted string of annual dividends since the inception of the Trust and initial listing on the New York Stock Exchange in 1971. We are encouraged by the strong economy and the positive impact on our businesses in the fiscal year ahead.”
For more information, visit www.innsuitestrust.com and www.ibchospitality.com
With the exception of historical information, the matters discussed in this news release may include “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements are not guarantees of future performance due to numerous risks and uncertainties such as local, national or international economic and business conditions, including, without limitation, conditions that may, or may continue to, affect public securities markets generally, the hospitality industry or the markets in which we operate or will operate; fluctuations in hotel occupancy rates; changes in room rental rates that may be charged by InnSuites Hotels in response to market rental rate changes or otherwise; seasonality of our business; our ability to sell any of our Hotels at market value, listed sale price or at all; interest rate fluctuations; changes in, or reinterpretations of governmental regulations; competition; availability of credit or other financing; our ability to meet, refinance or extend present and future debt service obligations; insufficient resources to pursue our current strategy; concentration of our investments in the InnSuites Hotels® brand; loss of membership contracts; the financial condition of franchises, brand membership companies and travel related companies; our ability to develop and maintain positive relations with “Best Western Plus” or “Best Western” and potential future franchises or brands; our ability to carry out our strategy, including our strategy regarding IBC Hotels; the Trust’s ability to remain listed on the NYSE MKT; effectiveness of the Trust’s software program; the need to periodically repair and renovate our Hotels at a cost at or in excess of our standard 4% reserve; our ability to cost effectively integrate any acquisitions with the Trust in a timely manner; increases in the cost of labor, energy, healthcare, insurance and other operating expenses as a result of changed or increased regulation or otherwise; terrorist attacks or other acts of war; outbreaks of communicable diseases attributed to our hotels or impacting the hotel industry in general; natural disasters, including adverse climate changes in the areas where we have or serve hotels; airline strikes; transportation and fuel price increases; adequacy of insurance coverage; data breaches or cybersecurity attacks; and other factors. Such uncertainties are described in greater detail in our filings with the Securities and Exchange Commission. Although we believe our current expectations to be based upon reasonable assumptions, we can give no assurance that our expectations will be attained.
FOR FURTHER INFORMATION: Marc Berg, Executive Vice President 602-944-1500 email: firstname.lastname@example.org
Source:InnSuites Hospitality Trust