SEGMENT INFORMATION (Tables)

9 Months Ended

Mar. 31, 2016

Schedule of Segment Reporting Information, by Segment [Table Text Block]

Information below represents reported segments for the three and nine months ended March 31, 2016 and 2015. Operating income (loss) from hotel operations consist of the operation of the hotel and operation of the garage. Operating income for rental properties consist of rental income. Operating income (loss) for investment transactions consist of net investment gain (loss), impairment loss on other investments, net unrealized gain (loss) on other investments, dividend and interest income and trading and margin interest expense.

As of and for the three months	Hotel		Real Estate		Investment
ended March 31, 2016	Operations		Operations		Transactions		Other		Total
Revenues	$	14,481,000	$	3,585,000	$	-	$	-	$	18,066,000
Segment operating expenses		(17,067,000)		(1,597,000)		-		(631,000)		(19,295,000)
Segment income (loss) from operations		(2,586,000)		1,988,000		-		(631,000)		(1,229,000)
Interest expense - mortgage		(1,793,000)		(639,000)		-		-		(2,432,000)
Depreciation and amortization expense		(780,000)		(548,000)		-		-		(1,328,000)
Loss from investments		-		-		(1,532,000)		-		(1,532,000)
Income tax benefit		-		-		-		2,183,000		2,183,000
Net income (loss)	$	(5,159,000)	$	801,000	$	(1,532,000)	$	1,552,000	$	(4,338,000)
Total assets	$	50,600,000	$	56,783,000	$	14,518,000	$	15,071,000	$	136,972,000

As of and for the three months	Hotel		Real Estate		Investment
ended March 31, 2015	Operations		Operations		Transactions		Other		Total
Revenues	$	13,983,000	$	4,149,000	$	-	$	-	$	18,132,000
Segment operating expenses		(11,997,000)		(1,947,000)		-		(616,000)		(14,560,000)
Segment income (loss) from operations		1,986,000		2,202,000		-		(616,000)		3,572,000
Interest expense - mortgage		(1,785,000)		(754,000)		-		-		(2,539,000)
Gain on sale of real estate		-		9,358,000		-		-		9,358,000
Depreciation and amortization expense		(744,000)		(514,000)		-		-		(1,258,000)
Loss from investments		-		-		(2,201,000)		-		(2,201,000)
Income tax expense		-		-		-		(2,930,000)		(2,930,000)
Net income (loss)	$	(543,000)	$	10,292,000	$	(2,201,000)	$	(3,546,000)	$	4,002,000
Total assets	$	49,819,000	$	56,123,000	$	24,332,000	$	14,630,000	$	144,904,000

As of and for the nine months	Hotel		Real Estate		Investment
ended March 31, 2016	Operations		Operations		Transactions		Other		Total
Revenues	$	43,332,000	$	10,713,000	$	-	$	-	$	54,045,000
Segment operating expenses		(40,229,000)		(5,048,000)		-		(2,025,000)		(47,302,000)
Segment income (loss) from operations		3,103,000		5,665,000		-		(2,025,000)		6,743,000
Interest expense - mortgage		(5,420,000)		(1,937,000)		-		-		(7,357,000)
Loss on disposal of assets		(30,000)		-		-		-		(30,000)
Depreciation and amortization expense		(2,301,000)		(1,548,000)		-		-		(3,849,000)
Loss from investments		-		-		(8,365,000)		-		(8,365,000)
Income tax benefit		-		-		-		4,103,000		4,103,000
Net income (loss)	$	(4,648,000)	$	2,180,000	$	(8,365,000)	$	2,078,000	$	(8,755,000)
Total assets	$	50,600,000	$	56,783,000	$	14,518,000	$	15,071,000	$	136,972,000

As of and for the nine months	Hotel		Real Estate		Investment
ended March 31, 2015	Operations		Operations		Transactions		Other		Total
Revenues	$	42,857,000	$	12,376,000	$	-	$	-	$	55,233,000
Segment operating expenses		(35,868,000)		(6,279,000)		-		(2,357,000)		(44,504,000)
Segment income (loss) from operations		6,989,000		6,097,000		-		(2,357,000)		10,729,000
Interest expense - mortgage		(5,450,000)		(2,264,000)		-		-		(7,714,000)
Loss on disposal of assets		(51,000)		-		-		-		(51,000)
Gain on sale of real estate		-		11,100,000		-		-		11,100,000
Other real estate income		-		458,000		-		-		458,000
Depreciation and amortization expense		(2,149,000)		(1,567,000)		-		-		(3,716,000)
Loss from investments		-		-		(5,644,000)		-		(5,644,000)
Income tax expense		-		-		-		(2,672,000)		(2,672,000)
Net income (loss)	$	(661,000)	$	13,824,000	$	(5,644,000)	$	(5,029,000)	$	2,490,000
Total assets	$	49,819,000	$	56,123,000	$	24,332,000	$	14,630,000	$	144,904,000