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Innsuites Hospitality Trust (iht) Doubles Dividend(December 08, 2017)
Phoenix, AZ, Dec. 08, 2017 (GLOBE NEWSWIRE) -- InnSuites Hospitality Trust (NYSE American: IHT)
The Board of Trustees of InnSuites Hospitality Trust (“IHT”) declared a dividend of $0.01 per share payable on January 31, 2018 to shareholders of record as of December 20, 2017 continuing an uninterrupted 47-year annual dividend record since the formation of the Trust in 1971. IHT has initiated semiannual dividends as of July 31, 2017 of one cent each 6 months effectively doubling the prior annual dividend rate.
The IHT Board of Trustees thanks and congratulates Pamela Barnhill, IHT’s President and COO, who has been recently recognized in the Hospitality industry by two separate top industry publications. In the September 2017 Lodging Magazine, Ms. Barnhill was recognized as one of the top 20 female leaders Making-A-Mark in Hospitality. On October 3, 2017, Hotel Management magazine recognized Ms. Barnhill as one of the 30 Influential Women in Hospitality. These two industry publications recognize Ms. Barnhill’s substantial influence in the fast-changing hospitality technology and services industry.
The IHT Board of Trustees thanks and congratulates Adam B. Remis CPA, IHT’s Chief Financial Officer, who was recognized on November 9, 2017 for becoming the Arizona Financial Executives International CFO of the Year – public company category. The organization recognized Mr. Remis’ success in adding outstanding value to IHT.
The Trust and the Board congratulates both of our Officers who have received significant professional recognition and both of whom are and continue a very substantial and positive influence on behalf of the shareholders of IHT.
For more information, visit www.innsuitestrust.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.
CONTACT: FOR FURTHER INFORMATION: Marc Berg,Executive Vice President 602-944-1500 email: [email protected]