InterGroup’s Q3 revenues rose 21% year-over-year to $20.372 million, while income from operations increased 81% to $4.26 million, turning GAAP net income positive at $0.595 million compared to a $0.75 million loss a year earlier. Net income attributable to shareholders reached $0.457 million, or $0.21 per diluted share, reversing the prior-year quarter's $0.578 million loss.

Hotel revenues climbed 35% to $16.497 million with ADR of $306 and occupancy of 94%, driven by stronger San Francisco demand and event-related activity such as the Super Bowl. Quarterly hotel revenues exceeded pre-pandemic March 2019 levels by $1.028 million, though higher operating expenses and fixed charges partially offset gains.

Real estate revenues declined 16% to $3.875 million, while losses from investment transactions narrowed to $0.342 million from $1.379 million. Year-to-date, the company recognized a $3.508 million gain on sale of a non-core multifamily property, contributing to a nine-month net income of $0.398 million.

Cash, cash equivalents, and restricted cash totaled $17.323 million as of March 31, with $1.096 million in marketable securities, bolstering liquidity. Management highlighted cautious optimism in the San Francisco recovery and improved marketable securities performance, focusing on disciplined operations and risk management.