Company: INTG
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001493152-25-006758
Chunk: 81

Company: INTERGROUP CORP
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 8
Chunk 81
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318,000 and garage
increased by $72,000 compared to the three months ended December 31, 2023. Total operating expenses decreased by $350,000 due to general
and administrative expenses. The year-over-year decrease in food and beverage is a result of less self-contained groups that utilize
banquet spaces. Improved parking revenues are a result of price increases year-over-year.

The
following table sets forth the average daily room rate, average occupancy percentage and RevPAR of the Hotel for the three months ended
December 31, 2024 and 2023:

    Three
                                   Months Ended
                                            December 31, 
    Average Daily
                                            Rate  
    Average Occupancy
                                            %  
     RevPAR 
  
    2024 
    $190  
     88% 
    $168 
  
    2023 
    $207  
     81% 
    $168 

The
Hotel’s revenues were flat this quarter as compared to the previous comparable quarter. Average daily rate decreased by $17, average
occupancy increased by 7%, and RevPAR was flat the three months ended December 31, 2024 compared to the three months ended December 31,
2023.

Real
Estate Operations 

Revenue
from real estate operations increased to $4,476,000 for the three months ended December 31, 2024 from $4,096,000 for the three months
ended December 31, 2023 primarily due to decrease in vacancy at its Missouri property which is rebranding and is undergoing renovation.
Real estate operating expenses decreased to $2,208,000 from $2,806,000 year-over-year 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.

Investment
Transactions

The
Company had a net loss on marketable securities of $598,000 for the three months ended December 31, 2024 compared to a net gain on marketable
securities of $1,760,000 for the three months ended December 31, 2023. For the three months ended December 31, 2024, the Company had
a net realized gain of $404,000 and a net unrealized loss of $1,002,000. For the three months ended December 31, 2023, the Company had
a net