INVESTMENT IN HOTEL, NET (Tables)

6 Months Ended

Dec. 31, 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
December 31, 2012	Cost		Depreciation			Value
Land	$	2,738,000	$	-		$	2,738,000
Furniture and equipment		21,734,000		(18,773,000	)		2,961,000
Building and improvements		57,393,000		(22,240,000	)		35,153,000
	$	81,865,000	$	(41,013,000	)	$	40,852,000

			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