Innsites Hospitality Trust Files 2024 10-K

TL;DR

<b>Innsites Hospitality Trust has filed its annual 10-K report for the fiscal year ending January 31, 2024.</b>

AI Summary

INNSUITES HOSPITALITY TRUST (IHT) filed a Annual Report (10-K) with the SEC on April 8, 2024. Innsites Hospitality Trust filed its 10-K for the fiscal year ending January 31, 2024. The filing covers the period from February 1, 2023, to January 31, 2024. The company's principal business address is in Phoenix, AZ, with a mailing address in Cleveland, OH. Innsites Hospitality Trust was formerly known as Realty Refund Trust, with a name change on July 3, 1992. The filing includes financial data for the fiscal years ending January 31, 2024, and January 31, 2023.

Why It Matters

For investors and stakeholders tracking INNSUITES HOSPITALITY TRUST, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Innsites Hospitality Trust's financial performance and operational status for the fiscal year 2023-2024, crucial for investors assessing the company's health and future prospects. The detailed financial statements and risk factors within the 10-K are essential for stakeholders to understand the REIT's financial position, revenue streams, and potential challenges in the real estate and hospitality sectors.

Risk Assessment

Risk Level: medium — INNSUITES HOSPITALITY TRUST shows moderate risk based on this filing. The company operates in the real estate investment trusts sector, which can be subject to market fluctuations and interest rate sensitivity, as indicated by its SIC code and the nature of its business.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to understand the company's performance and outlook.

Key Numbers

• 2024-01-31 — Fiscal Year End (Conformed period of report)
• 2024-04-08 — Filing Date (Filed as of date)
• 0000082473 — Central Index Key (Filer's identifier)
• 6798 — Standard Industrial Classification (Industry classification for REITs)

Key Players & Entities

• INNSUITES HOSPITALITY TRUST (company) — Filer name
• 0000082473 (company) — Central Index Key
• REALTY REFUND TRUST (company) — Former company name
• Phoenix, AZ (company) — Business address city and state
• Cleveland, OH (company) — Mail address city and state
• 0131 (dollar_amount) — Fiscal year end
• 20240131 (dollar_amount) — Conformed period of report
• 20240408 (dollar_amount) — Filed as of date

FAQ

Key Dates

• 2024-01-31: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-04-08: Filing Date — Date the 10-K was officially filed with the SEC.

Glossary

10-K

An annual report required by the U.S. Securities and Exchange Commission (SEC), which gives a comprehensive summary of a company's financial performance. (This filing provides the official annual financial and business overview for Innsites Hospitality Trust.)

REIT

Real Estate Investment Trust. A company that owns, operates, or finances income-generating real estate. (Innsites Hospitality Trust operates under this structure, impacting its financial reporting and investment profile.)

Key Financial Figures

• $2,000 — revenue and a monthly accounting fee of $2,000 per hotel. These agreements have no exp
• $201,000 — ees and reservations were approximately $201,000 and $173,000, recorded in on the Consol
• $173,000 — vations were approximately $201,000 and $173,000, recorded in on the Consolidated Statem
• $0.02 — ual dividends each Fiscal Year totaling $0.02 per share per Fiscal Year. In the Fisca
• $0.01 — 4 and 2023, the Trust paid dividends of $0.01 per share per share in each of the firs
• $1 million — entified in December 2019, and invested $1 million in UniGen Power, Inc. ("UniGen"), an in
• $1.80 — the prior Fiscal Year. ADR increased by $1.80

Filing Documents

• form10-k.htm (10-K) — 1496KB
• ex21.htm (EX-21) — 2KB
• ex22.htm (EX-22) — 10KB
• ex31-1.htm (EX-31.1) — 17KB
• ex31-2.htm (EX-31.2) — 17KB
• ex32-1.htm (EX-32.1) — 7KB
• ex32-2.htm (EX-32.2) — 7KB
• 0001493152-24-013409.txt (&nbsp;) — 7654KB
• iht-20240131.xsd (EX-101.SCH) — 76KB
• iht-20240131_cal.xml (EX-101.CAL) — 81KB
• iht-20240131_def.xml (EX-101.DEF) — 321KB
• iht-20240131_lab.xml (EX-101.LAB) — 489KB
• iht-20240131_pre.xml (EX-101.PRE) — 423KB
• form10-k_htm.xml (XML) — 1028KB

, Item 12 for information about our equity compensation plans

Part III, Item 12 for information about our equity compensation plans. See Note 2 to our Consolidated Financial Statements – "Summary of Significant Accounting Policies" for information related to grants of restricted shares made to members of our Board of Trustees during Fiscal Year 2023. These grants were made in reliance upon the exemption from the registration requirements of the Securities Act of 1933, as amended (the " Securities Act "), pursuant to Section 4(a)(2). No stock option grants were made in Fiscal 2023 or 2024. Item 6. SELECTED FINANCIAL DATA Not required for smaller reporting companies. Item 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS GENERAL The following discussion should be read in conjunction with our consolidated financial statements and notes thereto appearing elsewhere in this Form 10-K. We are engaged in the ownership and operation of hotel properties. At January 31, 2024, the Trust had two moderate-service hotels, one in Tucson, Arizona and one in Albuquerque, New Mexico with 270 hotel suites. Both of our Trust Hotels are branded through membership agreements with Best Western, and both are also trademarked as InnSuites Hotels and Suites. We are also involved in various operations incidental to the operation of hotels, such as the operation of a limited service restaurant, and bar, as well as meeting/banquet room rentals. At January 31, 2024, and currently, the Trust owns a 75.89% sole general partner interest in the Partnership, which controls a 51.62% interest in the InnSuites hotel located in Tucson, Arizona, and a direct 21.90% interest in the InnSuites hotel located in Albuquerque, New Mexico. Trust operations consist of one reportable segment – Hotel Ownership & Hotel Management Services. Hotel Ownership Operations derives its revenue from the operation of the Trust's two hotel properties with an aggregate of 270 hotel suites in Arizona and New Mexico. Hotel management

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View this 10-K filing on SEC EDGAR