Note 7 - Property, Plant, and Equipment, Hotel Properties

12 Months Ended

Jan. 31, 2012

Property, Plant and Equipment Disclosure [Text Block]

7.   PROPERTY, PLANT, AND EQUIPMENT, HOTEL PROPERTIES

As of January 31, property, plant and equipment consisted of the following:

	2012			2011
Land	$	7,005		$	7,005
Building and improvements		75,662			75,662
Furniture, fixtures and equipment		459,058			391,808
Total property, plant and equipment		541,725			474,475
Less accumulated depreciation		(392,349	)		(334,588	)
Property, Plant and Equipment, net	$	149,376		$	139,887

As of January 31, and the hotel properties consisted of the following:

	2012			2011
Land	$	2,817,515		$	2,817,515
Building and improvements		34,567,267			34,298,863
Furniture, fixtures and equipment		5,337,765			5,207,459
Work in progress		—			62,146
Total hotel properties		42,722,547			42,385,983
Less accumulated depreciation		(17,580,799	)		(16,468,720	)
Hotel properties, net	$	25,141,748		$	25,917,263