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INVESTMENT IN HOTEL, NET

3 Months Ended

Sep. 30, 2011

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

NOTE 2 – INVESTMENT IN HOTEL, NET

Investment in hotel consisted of the following as of:

			Accumulated			Net Book
September 30, 2011	Cost		Depreciation			Value
Land	$	2,738,000	$	-		$	2,738,000
Furniture and equipment		19,826,000		(17,339,000	)		2,487,000
Building and improvements		55,868,000		(20,752,000	)		35,116,000
	$	78,432,000	$	(38,091,000	)	$	40,341,000

			Accumulated			Net Book
June 30, 2011	Cost		Depreciation			Value
Land	$	2,738,000	$	-		$	2,738,000
Furniture and equipment		19,584,000		(17,075,000	)		2,509,000
Building and improvements		55,363,000		(20,467,000	)		34,896,000
	$	77,685,000	$	(37,542,000	)	$	40,143,000

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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