CONCENTRATION OF CREDIT RISK

12 Months Ended

Jun. 30, 2015

Concentration Risk Disclosure [Text Block]

NOTE 13 – CONCENTRATION OF CREDIT RISK

As of June 30, 2015, approximately 70% of accounts receivable is related to the amended franchise agreement. Travel agents and airlines made up 19%, or $1,278,000, and 50%, or $915,000, of accounts receivable at June 30, 2015 and 2014, respectively. The Hotel had two customers that accounted for 17%, or $1,182,000, of accounts receivable at June 30, 2015. The Hotel had two customers who accounted for 65%, or $1,203,000, of accounts receivable at June 30, 2014.

The Partnership maintains its cash and cash equivalents and restricted cash with various financial institutions that are monitored regularly for credit quality. At times, such cash and cash equivalents holdings may be in excess of the Federal Deposit Insurance Corporation (“FDIC”) or other federally insured limits.