PHOENIX, Dec. 10, 2014 (GLOBE NEWSWIRE) -- InnSuites® Hospitality Trust (NYSE MKT:IHT) ("IHT") reported Consolidated Net Loss of ($671,000) for the third fiscal quarter ended October 31, 2014 compared to a Consolidated Net Loss of ($719,000) in the prior third fiscal quarter ended October 31, 2013, an improvement of $48,000. Included is non-cash depreciation of approximately $441,000 and $434,000 for the three months of the fiscal year ended October 31, 2014 and 2013 respectively.
InnDependent Boutique Collection ("IBC Hotels"), a division of InnSuites Hospitality Trust, continues to grow as one of the world's largest independent hotel networks providing advanced distribution and reservation technologies and soft branding along with InnDependent InnCentives boutique hotel loyalty program to over 6,500 independently owned hotel members representing 20,000+ hotels in 170 countries worldwide. IBC Hotels looks forward to co-sponsoring the InnDependent Lodging Summit and Trade show in Tucson, Arizona March 15 – 17, 2015 at Hotel Tucson City Center in conjunction with Independent Lodging Industry Association (ILIA) and InnJoy Travel.
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.