Pamela J.W. Barnhill, President & COO; Mark E. Berg, Corporate Trustee & Executive VP, and James F. Wirth, Chairman & CEO of InnSuites Hospitality Trust (IHT), Interview with The Wall Street Transcript
67 WALL STREET, New York - November 27, 2013 - The Wall Street Transcript has just published its Gaming and Leisure Report offering a timely review of the sector to serious investors and industry executives. This special feature contains expert industry commentary through in-depth interviews with public company CEOs and Equity Analysts. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.
Topics covered: U.S. Regional and Emerging Market Hospitality - Gaming Opportunities In Asian Markets - Macau VIP and Mass Market Gaming - Lodging C-Corporations - Timeshare Industry Recovery - Regional Casino Development
Companies include: Innsuites Hospitality Trust (IHT) and many more.
In the following excerpt from the Gaming and Leisure Report, Executives at InnSuites Hospitality Trust (IHT) discuss their company strategy and the outlook for this vital sector:
TWST: What's the outlook for InnSuites?
Ms. Barnhill: We have been experiencing larger occupancies year over year. While the rates have not yet come back, we are experiencing some smaller increases in rates, and we believe that we're going to have some larger increases in rates going into our seasoned hotels this winter as well as next spring and summer.
Mr. Wirth: In our last fiscal year our profits, incidentally, were up about $370,000. Year to date profits are up $325,000, and every indication is that this trend will be favorable going forward for several years.
TWST: The RevPAR forecasts look really strong for three or four years, right?
Ms. Barnhill: Until 2017 is what we're hearing. At the lodging conference I just attended some people were questioning that, but we were told that a lot of it is based on strong regression analysis associated with building permits. Apparently they're starting to see an uptick in building permit requests from cities, but the cities have been so slashed with the shutdowns and with budgets but they're not able to handle all this, so there is still a lot of bottleneck in the system.
Mr. Wirth: Another factor that's important with respect to InnSuites relative to the industry is that our hotels are typically in seasoned locations. It's unlikely that new construction will be in areas near us; typically new construction goes into the newer, fringe areas. When we built, we tended to be in those fringe areas, but today our sites are typically in very seasoned, more centralized locations with higher barriers to entry. One good example of that is Ontario, California.
TWST: You mentioned profits being up. Aside from outside factors and the cycle, what's driving that growth over these past 12 to 18 months?
For more of this interview and many others visit the Wall Street Transcript - a unique service for investors and industry researchers - providing fresh commentary and insight through verbatim interviews with CEOs, portfolio managers and research analysts. This special issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.
