InnSuites Hospitality Trust (IHT) Reports Fiscal 2003 Year-End Results

                                               Fiscal Year    Fiscal Year

                                                  Ended          Ended

                                               January 31,    January 31,

                                                   2003           2002

   Net loss attributable to Shares

    of Beneficial Interest                     $(3,445,948)   $(3,539,402)

   Depreciation of hotel properties              3,395,844      3,056,489

   Loss on disposal of assets                       66,401         45,866

   Loss on impairment of hotel properties          589,687             --

   Extraordinary items                                  --        322,153

   Minority interest share of depreciation,

    loss on disposals, loss on impairment of

    hotel properties and extraordinary items    (2,034,159)    (1,765,306)

   Funds from operations                       $(1,428,175)   $(1,880,200)

   One-time charge for acquisition of

    InnSuites Hotels, Inc.                              --      1,608,482

   Comparable funds from operations            $(1,428,175)     $(271,718)

   FFO per basic share                              $(0.69)        $(0.13)



Several factors can impact the Trust's FFO per basic share, including, but not limited to, changes in occupancy rates, property acquisitions and dispositions, and overall economic conditions.



Positioned for the Future



Over the past two years, the travel and hospitality industries have been challenged by the uncertain economy and world events. The Trust has responded to these events with aggressive cost-cutting measures which, when combined with sales initiatives, have helped the Trust to somewhat mitigate the economic impact of these events. As a step to reduce losses, the Trust sold the Scottsdale InnSuites hotel on March 21, 2003 at its appraised value of $3.1 million. For the fiscal year ended January 31, 2003, the Scottsdale hotel accounted for $632,000 of the loss attributable to Shares of Beneficial Interest, or $(0.31) per basic share. The buyer was an affiliate of James Wirth, President of the Trust. Although the Trust does expect a modest pickup in the economy and in travel in the coming year, nevertheless, the Trust is taking additional steps to cut costs and improve stability.



Your Suite Choice(R)- Value Concept



InnSuites Hospitality Trust is a mid-market studio and two-room suite hospitality real estate hotel investment trust with 10 moderate service and full service hotels containing 1,555 hotel suites located in Arizona, New Mexico and Southern California.