PHOENIX, AZ--(Marketwired - Jun 14, 2016) - InnSuites Hospitality Trust (NYSE MKT: IHT) ("IHT") reported total revenues of approximately $3.64 million for its first fiscal quarter for the period February 1, 2016 to April 30, 2016 which increased approximately $180,000 from revenues of approximately $3.46 million for the first fiscal quarter ended October 31, 2015 excluding the revenues generated by Hotel Tucson City Center which was sold on October 14, 2015.
IHT continues to invest in its rapidly growing IBC/IVH digital hotel services division as it moves from real estate ownership. Pamela J. Barnhill, President and COO of the Trust, confirmed the continued focus on both the organic and potentially acquisition growth of its IBC division.
IBC is a technology platform with numerous brand-like benefits designed for independent hotels by independent hoteliers and delivers one-stop shop including: Reservations/Revenue generation, Operations dashboard, InnDependent InnCentives loyalty program and a preferred partner network. IBC provides full guest information and is 100% ROI-based.
On June 7, 2016, CUBILIS by Stardekk and IBC Hotels announced a partnership to provide hoteliers a user friendly channel manager and PMS that allows hoteliers to manage rates and availability on their booking channels via a central user interface. "We're very pleased to announce the partnership with IBC as we share the same focus on independent and boutique hotels" says Vincent Goemaere, CEO of Stardekk.
On June 3, 2016, Hotelogix & IBC Hotels created a joint initiative empowering hotels to increase total REVPAR by driving more bookings and simplifying their operations. "Independent hotels need access to the best tools to compete against the evolved brands, changing distribution and regaining their customer relationships by owning their own guest information to drive repeat business, and by implementing modern, cloud-based solutions" said Pamela Barnhill.
On June 2, 2016, IBC Hotels and Go Moment announced that the Go Moment's Ivy Platform has been selected by IBC Hotels as the recommended guest engagement messaging service. "We're excited to team up with IBC Hotels and receive this exclusive designation," said Raj Singh, Go Moment's CEO.
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 and 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.