Company: INTG
Filing Date: 2025-09-30
Form Type: 10-K
Source: 0001493152-25-016154
Chunk: 39

Company: INTERGROUP CORP
Filing Date: 2025-09-30
Form: 10-K
Item: Item 1
Chunk 39
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ated by reference to Part III, Item 12 of this Annual Report on Form 10-K.

21

ISSUER
PURCHASES OF EQUITY SECURITIES

The
Company did not repurchase any shares of its common stock during the fiscal quarter ended June 30, 2025; accordingly, no monthly repurchase
table is presented pursuant to Item 703 of Regulation S-K.

The
Company maintains a share repurchase program originally announced on January 13, 1998 and subsequently increased by the Board of Directors
on February 10, 2023; October 12, 2004; November 15, 2012; September 23, 2019; and December 20, 2021. Repurchases, if any, may be made
from time to time in the open market or through privately negotiated transactions, subject to market conditions and other factors, and
the program has no stated expiration date. As of June 30, 2025, approximately 39,209 shares remained available for repurchase under the
authorizations.

Item
6. Reserved.

Reserved.

Item
7. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

The
following discussion and analysis of our financial condition and results of operations should be read in conjunction with the accompanying
consolidated financial statements, related notes included thereto and Item 1A - “Risk Factors,” appearing elsewhere in this
Annual Report on Form 10-K. Under the SEC’s Item 303 modernization, we have omitted a discussion of the earlier year. For a comparison
of fiscal 2024 to fiscal 2023, refer to Item 7 – “Management’s Discussion and Analysis of Financial Condition and Results
of Operations” in our Annual Report of Form 10-K for the year ended June 30, 2024, which is incorporated herein by reference.

MARKET
CONDITIONS IN SAN FRANCISCO  

We
continue to monitor the San Francisco lodging market, including changes in business travel, convention activity, tourism, public safety
initiatives, and broader economic conditions. Demand trends are influenced by the region’s technology sector, convention and group
calendars, and overall macroeconomic conditions. Management evaluates these trends and related uncertainties when planning pricing, sales
and marketing, and capital allocation strategies. See “Risk Factors” for a discussion of factors that could adversely affect
demand for our Hotel.

REAL
ESTATE

Real
estate carried at historical cost;