Company: INTG
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010724
Chunk: 103

Company: INTERGROUP CORP
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 2
Chunk 103
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 room revenues increased by $1,516,000, food and beverage revenue decreased by $196,000 and garage
increased by $50,000 compared to the three months ended March 31, 2024. Total operating expenses increased by $446,000 due to increases
in union salaries and wages, Hilton marketing and guest loyalty fees, travel agent and group commissions.

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

    Three
                                   Months Ended
                                            March 31, 
    Average Daily
                                            Rate  
    Average Occupancy
                                            %  
    RevPAR 
  
    2025 
    $241  
     89% 
    $215 
  
    2024 
    $232  
     78% 
    $182 

The
Hotel’s revenues increased by 13% this quarter as compared to the previous comparable quarter. Average daily rate increased by
$9, average occupancy increased by 11%, and RevPAR increased by $33 for the three months ended March 31, 2025 compared to the three months
ended March 31, 2024.

Real
Estate Operations 

Revenue
from real estate operations increased to $4,614,000 for the three months ended March 31, 2025 from $4,125,000 for the three months ended
March 31, 2024 primarily due to decrease in vacancy at its Missouri property which is rebranding and was undergoing renovation. Real
estate operating expenses decreased to $2,431,000 from $2,612,000 year over year primarily due to decreased repairs and maintenance.
Management continues to review and analyze the Company’s real estate operations to improve occupancy and rental rates and to reduce
expenses and improve efficiencies.

-22-

Investment
Transactions

The
Company had a net loss on marketable securities of $1,097,000 for the three months ended March 31, 2025 compared to a net loss on marketable
securities of $811,000 for the three months ended March 31, 2024. For the three months ended March 31, 2025, the Company had a net realized
loss of $74,000 and a net unrealized loss of $1,023,000. For the three months ended March 31, 2024, the