SEGMENT INFORMATION (Details) (USD $)	3 Months Ended		9 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014	Jun. 30, 2014
Segment Reporting Information [Line Items]
Revenues	$ 18,132,000	$ 15,873,000	$ 55,233,000	$ 49,688,000
Segment operating expenses	(14,560,000)	(13,095,000)	(44,504,000)	(46,054,000)
Segment income (loss) from operations	2,314,000	1,748,000	7,013,000	136,000
Interest expense - mortgage	(2,539,000)	(2,511,000)	(7,714,000)	(5,447,000)
Interest expense - occupancy tax			0	(328,000)
Loss on extinguishment of debt			0	(3,910,000)
Loss on disposal of assets			(51,000)	(1,092,000)
Gain on sale of real estate	9,358,000	0	11,100,000	0
Other real estate income			458,000	0
Depreciation and amortization expense	(1,258,000)	(1,030,000)	(3,716,000)	(3,498,000)
Gain (loss) from investments	(2,201,000)	22,000	(5,644,000)	407,000
Income tax expense	(2,930,000)	177,000	(2,672,000)	2,194,000
Net income (loss)	4,002,000	(564,000)	2,490,000	(8,040,000)
Total assets	144,904,000	162,073,000	144,904,000	162,073,000	165,460,000
Hotel Operations [Member]
Segment Reporting Information [Line Items]
Revenues	13,983,000	11,849,000	42,857,000	37,428,000
Segment operating expenses	(11,997,000)	(10,320,000)	(35,868,000)	(37,724,000)
Segment income (loss) from operations	1,986,000	1,529,000	6,989,000	(296,000)
Interest expense - mortgage	(1,785,000)	(1,766,000)	(5,450,000)	(3,168,000)
Interest expense - occupancy tax				(328,000)
Loss on extinguishment of debt				(3,910,000)
Loss on disposal of assets			(51,000)	(1,092,000)
Gain on sale of real estate	0		0
Other real estate income			0
Depreciation and amortization expense	(744,000)	(491,000)	(2,149,000)	(1,887,000)
Gain (loss) from investments	0	0	0	0
Income tax expense	0	0	0	0
Net income (loss)	(543,000)	(728,000)	(661,000)	(10,681,000)
Total assets	49,819,000	48,042,000	49,819,000	48,042,000
Real Estate Operations [Member]
Segment Reporting Information [Line Items]
Revenues	4,149,000	4,024,000	12,376,000	12,260,000
Segment operating expenses	(1,947,000)	(2,194,000)	(6,279,000)	(6,738,000)
Segment income (loss) from operations	2,202,000	1,830,000	6,097,000	5,522,000
Interest expense - mortgage	(754,000)	(745,000)	(2,264,000)	(2,279,000)
Interest expense - occupancy tax				0
Loss on extinguishment of debt				0
Loss on disposal of assets			0	0
Gain on sale of real estate	9,358,000		11,100,000
Other real estate income			458,000
Depreciation and amortization expense	(514,000)	(539,000)	(1,567,000)	(1,611,000)
Gain (loss) from investments	0	0	0	0
Income tax expense	0	0	0	0
Net income (loss)	10,292,000	546,000	13,824,000	1,632,000
Total assets	56,123,000	64,135,000	56,123,000	64,135,000
Investment Transactions [Member]
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Segment operating expenses	0	0	0	0
Segment income (loss) from operations	0	0	0	0
Interest expense - mortgage	0	0	0	0
Interest expense - occupancy tax				0
Loss on extinguishment of debt				0
Loss on disposal of assets			0	0
Gain on sale of real estate	0		0
Other real estate income			0
Depreciation and amortization expense	0	0	0	0
Gain (loss) from investments	(2,201,000)	22,000	(5,644,000)	407,000
Income tax expense	0	0	0	0
Net income (loss)	(2,201,000)	22,000	(5,644,000)	407,000
Total assets	24,332,000	26,333,000	24,332,000	26,333,000
Other [Member]
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Segment operating expenses	(616,000)	(581,000)	(2,357,000)	(1,592,000)
Segment income (loss) from operations	(616,000)	(581,000)	(2,357,000)	(1,592,000)
Interest expense - mortgage	0	0	0	0
Interest expense - occupancy tax				0
Loss on extinguishment of debt				0
Loss on disposal of assets			0	0
Gain on sale of real estate	0		0
Other real estate income			0
Depreciation and amortization expense	0	0	0	0
Gain (loss) from investments	0	0	0	0
Income tax expense	(2,930,000)	177,000	(2,672,000)	2,194,000
Net income (loss)	(3,546,000)	(404,000)	(5,029,000)	602,000
Total assets	$ 14,630,000	$ 23,563,000	$ 14,630,000	$ 23,563,000