PHOENIX, June 13, 2014 (GLOBE NEWSWIRE) -- InnSuites Hospitality Trust (IHT) (NYSE MKT:IHT) reported Consolidated Net Income of $284,000 for the quarter ended April 30, 2014. Consolidated Net Income before non-cash depreciation was $728,000 for the first fiscal quarter.
InnDependent Boutique Collection (IBC Hotels, Inc.), a division of InnSuites® Hospitality Trust, now serves 4,600 independent properties with 395,000 rooms by providing a supplemental low-cost Branding and Reservations revenue channel. IBC Hotels is a hotbed-growing network of like-minded independent hotels working together and referring business to each other. The booking system and loyalty program, InnDependent InnCentives, allows independent hoteliers to flex their power in numbers, a first for many of these hotels.
IBC has selected MMS Connect™ for all IBC Hotels to access networks of committed travelers in emerging travel marketplaces. MMS Connect's powerful tools will enable IBC Hotels to cost effectively manage marketing, distribution and bookings from one place. INNJOY will be the first marketplace connected to IBC Hotels powered by MMS Connect.
INNJOYtravel.com, a partner with IBC Hotels and MMS Connect, announces integrated social media display features providing enormous reach for IBC Hotels and incredible insight for all traveling customers. INNJOYtravel.com users can now read all displayed social media feeds without a social account, thus bridging the gap between social media and mainstream media. All travelers will be able to review experiences, photos and videos as well as connect directly with onsite activity professionals via social channels on INNJOYtravel.com.
A partnership with Soothe connects IBC's 4,600 independent hotel members worldwide to Soothe's quickly growing on-demand massage service. IBC Hotel caters to savvy travelers that thrive on unique experiences in independent boutique hotels, making the partnership with Soothe a natural fit.
"Our mission at IBC Hotels is to continually improve the travel experience for travelers that crave unique travel opportunities," says Pamela Barnhill, President and COO of InnSuites Hospitality Trust. "The synergy between Soothe and IBC Hotels creates powerful opportunities for both companies. This agreement is one of the benefits we bring to the table for our member hotels that would be difficult to accomplish as standalone properties."
For more information, visit www.ibchotels.com, www.innjoytravel.com and/or www.soothe.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 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.
For more information visit www.innsuitestrust.com or www.sec.gov.