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The InterGroup Corporation Reports Third Quarter Fiscal 2026 Results; Operating Performance Improves Year?Over?Year as San Francisco Recovery Progresses
Los Angeles, California, May 11, 2026 (GLOBE NEWSWIRE) -- The InterGroup Corporation (NASDAQ: IN...
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[{"type":"text","content":"The InterGroup Corporation Reports Third Quarter Fiscal 2026 Results; Operating Performance Improves Year‑Over‑Year as San Francisco Recovery Progresses\nLos Angeles, California, May 11, 2026 (GLOBE NEWSWIRE) -- The InterGroup Corporation (NASDAQ: INTG) (the “Company” or “InterGroup”) today announced financial results for the fiscal third quarter ended March 31, 2026. InterGroup is a diversified holding company with interests in hospitality (through its majority‑owned subsidiary Portsmouth Square, Inc.), real estate operations, and investment transactions. The discussion below is derived from the Company’s Quarterly Report on Form 10‑Q for the quarter ended March 31, 2026. Third Quarter Fiscal 2026 Highlights (Three Months Ended March 31, 2026 vs. 2025) Total revenues increased to $20.372 million from $16.824 million (+21%).Income from operations increased to $4.260 million from $2.350 million (+81%).GAAP net income was $0.595 million, compared to a GAAP net loss of $0.750 million in the prior‑year quarter.Net income attributable to InterGroup was $0.457 million, or $0.21 per diluted share, compared to a net loss attributable to InterGroup of $0.578 million, or $0.27 per share, in the prior‑year quarter.Hotel revenues increased to $16.497 million from $12.210 million (+35%). For additional context, Hotel revenues for the quarter ended March 31, 2026 exceeded the comparable pre‑pandemic quarter ended March 31, 2019 by approximately $1.028 million.Real estate revenues were $3.875 million compared to $4.614 million in the prior‑year quarter (‑16%).Net loss from investment transactions was $(0.342) million compared to $(1.379) million in the prior‑year quarter. Hotel Operating Metrics (Hilton San Francisco Financial District) Three months ended March 31ADROccupancyRevPAR2026$30694%$2872025$24189%$215 Key Drivers and Market Context Management attributed year‑over‑year improvement primarily to stronger hotel operating results, including improved ADR and occupancy, and continued progress in San Francisco demand trends. The quarter also benefited from event‑related activity in the market, including the Super Bowl. Results further benefited from substantially lower losses in marketable securities compared with the...