INVESTMENT IN HOTEL, NET (Tables)

12 Months Ended

Jun. 30, 2012

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment [Table Text Block]

Investment in hotel consisted of the following as of:

			Accumulated			Net Book
June 30, 2012	Cost		Depreciation			Value
Land	$	2,738,000	$	-		$	2,738,000
Furniture and equipment		20,856,000		(18,185,000	)		2,671,000
Building and improvements		56,909,000		(21,640,000	)		35,269,000
	$	80,503,000	$	(39,825,000	)	$	40,678,000

			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