Innlanz Limited (ASX: $INL) Quarterly Activities Report

Innlanz Limited (ASX: $INL) has released its Quarterly Activities Report for the period ended 30 June 2024. The report indicates a decrease in net cashflows from operations by $145k compared to the previous quarter. The company's total cash position at 30 June 2024 was $308k, reflecting a decrease of $154k from the previous quarter. The main income for the group is generated from its hotel asset in Hamilton, New Zealand, which finished the quarter with an occupancy of 80.3% and total revenue of NZD672k.

Executive Commentary on Quarterly Report

The decrease in net cashflows from operations and the total cash position is a result of a decrease in receipts from customers, an increase in corporate & admin expenses, and operating expenses this quarter. The hotel's occupancy of 80.3% was a mix of corporate, leisure, and group-based travelers, which contributed to the total revenue. The Board and Management appreciate the ongoing support of our shareholders.

Summary of Quarterly Activities Report and Outlook

Innlanz Limited's Quarterly Activities Report for the period ended 30 June 2024 reflects a decrease in net cashflows from operations and the company's total cash position. The main income for the group is derived from its hotel asset in Hamilton, New Zealand, which achieved an occupancy of 80.3% and total revenue of NZD672k. The company remains focused on business development and growth opportunities in the Hospitality sector and continues to explore strategic business assets to diversify the Group's revenue. The company's outlook will depend on its ability to manage expenses and enhance revenue generation from its existing assets.