Company: INTG
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010724
Chunk: 105

Company: INTERGROUP CORP
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 2
Chunk 105
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 depreciation 

    and amortization 
     6,463,000  
     4,151,000 
  
    Gain on extinguishment of debt 
     1,416,000  
     - 
  
    Interest expense - mortgage 
     (8,128,000) 
     (5,796,000)
  
    Depreciation and amortization
    expense 
     (2,731,000) 
     (2,597,000)
  
    Net
    loss from Hotel operations 
    $(2,980,000) 
    $(4,242,000)

For
the nine months ended March 31, 2025, the Hotel had operating income of $6,463,000 before interest expense, depreciation, and amortization
on total operating revenues of $33,995,000 compared to operating income of $4,151,000 before interest expense, depreciation, and amortization
on total operating revenues of 32,076,000 for the nine months ended March 31, 2024.

For
the nine months ended March 31, 2025, room revenues increased by $2,063,000, food and beverage revenue decreased by $408,000, garage
revenue increased by $172,000 compared to the nine months ended March 31, 2024. Total operating expenses decreased by $393,000 due to
decreased commissions, franchise fees, Hilton marketing fees, and salaries and wages.

-23-

The
following table sets forth the average daily room rate, average occupancy percentage and RevPAR of the Hotel for the nine months ended
March 31, 2025 and 2024.

    Nine
                                    Months Ended
                                            March 31, 
    Average Daily
                                            Rate  
    Average Occupancy
                                            %  
    RevPAR 
  
    2025 
    $213  
     91% 
    $194 
  
    2024 
    $219  
     82% 
    $180 

The
Hotel’s revenues increased by 6% for the nine months ended March 31, 2025 as compared to the nine months ended March 31, 2024.
Average daily rate decreased by $6, average occupancy increased by 9%, and RevPAR increased by $14 for the nine months ended March 31,
2025 compared to the nine months ended March 31, 2024