Company: INTG
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021858
Chunk: 1

Company: INTERGROUP CORP
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 2
Chunk 1
---
 Compared to Three Months Ended September 30, 2024

The
Company had a net loss of $535,000 and $398,000 for the three months ended September 30, 2025 and September 30, 2024, respectively. The
increase loss primarily reflects the absence of an incentive management fee waiver that reduced Hotel operating expenses in the prior-year
quarter, partially offset by improved operating income from the real estate segment (stronger occupancy and modest rate growth).

-21-

Hotel
Operations

The
Company had net loss from Hotel operations of $1,455,000 for the three months ended September 30, 2025, compared to net loss $725,000
for the three months ended September 30, 2024. The increased loss primarily reflects the absence of the prior-year incentive management
fee waiver and higher compensation costs under new labor union agreements.

The
following table sets forth a more detailed presentation of Hotel operations for the three months ended September 30, 2025 and 2024:

    For the three
    months ended September 30, 
    2025  
    2024 
  
    Hotel revenues: 

    Hotel rooms 
    $10,428,000  
    $10,110,000 
  
    Food and beverage 
     912,000  
     733,000 
  
    Garage 
     900,000  
     875,000 
  
    Other
    operating departments 
     178,000  
     102,000 
  
    Total Hotel revenues 
     12,418,000  
     11,820,000 
  
    Operating
    expenses excluding depreciation and amortization 
     (10,481,000) 
     (8,792,000)
  
    Operating income before interest, depreciation
    and amortization 
     1,937,000  
     3,028,000 
  
    Interest expense - mortgage 
     (2,493,000) 
     (2,824,000)
  
    Depreciation
    and amortization expense 
     (899,000) 
     (929,000)
  
    Net
    loss from Hotel operations 
    $(1,455,000) 
    $(725,000)

For
the three months ended September 30, 2025, the Hotel had operating income of $1,937,000 before