Company: INTG
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001493152-25-006758
Chunk: 38

Company: INTERGROUP CORP
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 1
Chunk 38
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 interest rate.

-23-

The
following table sets forth a more detailed presentation of Hotel operations for the six months ended December 31, 2024 and 2023:

    For the six months ended
    December 31, 
    2024  
    2023 
  
    Hotel revenues: 

    Hotel rooms 
    $18,511,000  
    $17,964,000 
  
    Food and beverage 
     1,387,000  
     1,599,000 
  
    Garage 
     1,655,000  
     1,533,000 
  
    Other
    operating departments 
     232,000  
     222,000 
  
    Total Hotel revenues 
     21,785,000  
     21,318,000 
  
    Operating
    expenses excluding depreciation and amortization 
     (17,847,000) 
     (18,686,000)
  
    Operating income before interest expense, depreciation 

    and amortization 
     3,938,000  
     2,632,000 
  
    Interest expense - mortgage 
     (5,669,000) 
     (3,205,000)
  
    Depreciation and amortization
    expense 
     (1,832,000) 
     (1,711,000)
  
    Net
    loss from Hotel operations 
    $(3,563,000) 
    $(2,284,000)

For
the six months ended December 31, 2024, the Hotel had operating income of $3,938,000 before interest expense, depreciation, and amortization
on total operating revenues of $21,785,000 compared to operating income of $2,632,000 before interest expense, depreciation, and amortization
on total operating revenues of $21,318,000 for the six months ended December 31, 2023.

For
the six months ended December 31, 2024, room revenues increased by $547,000, food and beverage revenue decreased by $212,000, garage
revenue increased by $122,000 compared to the six months ended December 31, 2023. Total operating expenses decreased by $839,000 due
to general and administrative expenses. The year-over-year increase in room revenue due to completion of the renovation. Food and beverage
is a