This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Hotel Outsource Management International, Inc. Presents Full Year 2009 Results

Hotel Outsource Management International, Inc. (“ HOMI”) (OTCBB:HOUM) presented its consolidated financial results for the year ended December 31, 2009.


  • During 2009, HOMI completed installations of the HOMI ® 336 and the HOMI ® 330 minibar systems in 10 hotels, for a total of 2018 rooms.
  • In 2009 HOMI raised a total of ~US$2,200,000 through new subscriptions and the conversion of shareholder loans and issued ~48,500,000 shares of common stock.
  • HOMI announced the adoption of a new Business Model. Under the new business model, the Company will sell HOMI minibars, to be installed in various hotels, to third parties. HOMI shall manage and operate these minibars for an agreed upon management fee and profit sharing agreement

Full Year 2009 results :

Revenues for the year ended December 31, 2009 reached US$3,651,000, compared to US$3,700,000 in the year ended December 2008. The decrease in revenues is mainly a result of a decrease in occupancy rates in the hotels in which HOMI operates due to the global economic crisis. In the third quarter there was an improvement in the occupancy rates, but it did not fully compensate for the results of the year. Further, as a result of HOMI selling its interest in HOMI South Africa Pty (“HOMI SA”), HOMI SA is no longer affiliated with HOMI, and HOMI no longer provides outsourcing services to the hotels in South Africa to which it previously provided services. Revenue for 2008, include revenues from such hotels in South Africa, while revenue for 2009 does not.

For the year ended December 31, 2009, HOMI's three largest customers accounted for 25.6% of our total revenues, as compared to 30.3% in 2008.

1 of 5

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs