SEGMENT INFORMATION (Details) - USD ($)	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Segment Reporting Information [Line Items]
Revenues	$ 72,737,000	$ 67,295,000
Segment operating expenses	(58,112,000)	(59,914,000)
Segment income (loss) from operations	9,682,000	2,658,000
Interest expense - mortgage	(10,153,000)	(7,986,000)
Interest expense - occupancy tax	0	(328,000)
Loss on extinguishment of debt	0	(3,910,000)
Loss on disposal of assets	(47,000)	(1,092,000)
Other real estate income	458,000	0
Gain on sale of real estate	11,100,000	0
Depreciation and amortization expense	(4,943,000)	(4,723,000)
Gain (loss) from investments	(6,236,000)	343,000
Income tax expense	(2,747,000)	3,567,000
Net income (loss)	2,057,000	(6,748,000)
Total assets	143,419,000	165,460,000
Hotel Operations [Member]
Segment Reporting Information [Line Items]
Revenues	56,811,000	50,963,000
Segment operating expenses	(47,016,000)	(48,764,000)
Segment income (loss) from operations	9,795,000	2,199,000
Interest expense - mortgage	(7,234,000)	(4,960,000)
Interest expense - occupancy tax	0	(328,000)
Loss on extinguishment of debt	0	(3,910,000)
Loss on disposal of assets	(47,000)	(1,092,000)
Other real estate income	0
Gain on sale of real estate	0
Depreciation and amortization expense	(2,902,000)	(2,573,000)
Gain (loss) from investments	0	0
Income tax expense	0	0
Net income (loss)	(388,000)	(10,664,000)
Total assets	54,537,000	41,897,000
Real Estate Operations [Member]
Segment Reporting Information [Line Items]
Revenues	15,926,000	16,332,000
Segment operating expenses	(8,237,000)	(8,982,000)
Segment income (loss) from operations	7,689,000	7,350,000
Interest expense - mortgage	(2,919,000)	(3,026,000)
Interest expense - occupancy tax	0	0
Loss on extinguishment of debt	0	0
Loss on disposal of assets	0	0
Other real estate income	458,000
Gain on sale of real estate	11,100,000
Depreciation and amortization expense	(2,041,000)	(2,150,000)
Gain (loss) from investments	0	0
Income tax expense	0	0
Net income (loss)	14,287,000	2,174,000
Total assets	55,768,000	63,697,000
Investment Transactions [Member]
Segment Reporting Information [Line Items]
Revenues	0	0
Segment operating expenses	0	0
Segment income (loss) from operations	0	0
Interest expense - mortgage	0	0
Interest expense - occupancy tax	0	0
Loss on extinguishment of debt	0	0
Loss on disposal of assets	0	0
Other real estate income	0
Gain on sale of real estate	0
Depreciation and amortization expense	0	0
Gain (loss) from investments	(6,236,000)	343,000
Income tax expense	0	0
Net income (loss)	(6,236,000)	343,000
Total assets	20,909,000	27,257,000
Other [Member]
Segment Reporting Information [Line Items]
Revenues	0	0
Segment operating expenses	(2,859,000)	(2,168,000)
Segment income (loss) from operations	(2,859,000)	(2,168,000)
Interest expense - mortgage	0	0
Interest expense - occupancy tax	0	0
Loss on extinguishment of debt	0	0
Loss on disposal of assets	0	0
Other real estate income	0
Gain on sale of real estate	0
Depreciation and amortization expense	0	0
Gain (loss) from investments	0	0
Income tax expense	(2,747,000)	3,567,000
Net income (loss)	(5,606,000)	1,399,000
Total assets	$ 12,205,000	$ 32,609,000