Schedule III - Real Estate and Accumulated Depreciation

12 Months Ended

Jan. 31, 2012

Real Estate and Accumulated Depreciation Disclosure [Text Block]

REAL ESTATE AND ACCUMULATED DEPRECIATION

AS OF JANUARY 31, 2012

			Initial Cost to Tenant				Cost Capitalized Subsequent to Acquisition					Gross Amounts at Which Carried at Close of Period
Properties	Encumbrances		Land		Building and Improvements		Land			Building and Improvements		Land		Building and Improvements

InnSuites Hotel and Suites
Tucson, Catalina Foothills Best Western
Tucson, Arizona	$	2,135,796	$	—	$	4,220,820	$	—		$	2,415,388	$	—	$	6,650,091
InnSuites Hotels and Suites
Yuma
Yuma, Arizona		5,000,000		251,649		4,983,292		53,366			2,500,739		305,015		7,644,723
Best Western
Airport Ontario Hotel and Suites
Ontario, California		*7,405,289		1,633,064		5,450,872		—			1,667,433		1,633,064		7,105,372
InnSuites Hotels and Suites
Tucson St. Mary’s
Tucson, Arizona		5,409,156		900,000		9,166,549		(20,564	)		1,621,327		879,436		10,876,620
InnSuites Hotels and Suites
Albuquerque Airport Best Western
Albuquerque, New Mexico		1,321,015		—		1,903,970		—			368,473		—		2,290,460
InnSuites Hospitality Trust
Phoenix, Arizona		—		7,005		75,662		—			—		7,005		75,662

	$	21,271,256	$	2,791,718	$	25,801,165	$	32,802		$	8,573,360	$	2,824,520	$	34,642,928

* On February 14, 2012 the mortgage note payable on the Ontario property was written down by the lender by $500,000. See Note 10.

	Gross Land and Building		Accumulated Depreciation		Net Book Value Land and Buildings and Improvements		Date of Construction		Date of Acquisition		Depreciation in Income Statement is Computed

InnSuites Hotel and Suites
Tucson, Catalina Foothills Best Western
Tucson, Arizona	$	6,650,091	$	2,627,034	$	4,023,057		1981		1998	5-40 years

InnSuites Hotels and Suites
Yuma
Yuma, Arizona		7,949,738		2,784,683		5,165,055		1982		1998	5-40 years

Best Western
Airport Ontario Hotel and Suites
Ontario, California		8,738,436		3,008,757		5,729,679		1990		1998	5-40 years

InnSuites Hotels and Suites
Tucson St. Mary’s
Tucson, Arizona		11,756,056		4,339,188		7,416,868		1960		1998	5-40 years

InnSuites Hotels and Suites
Albuquerque Airport Best Western
Albuquerque, New Mexico		2,290,460		1,062,437		1,228,023		1975		2000	5-40 years

InnSuites Hospitality Trust
Phoenix, Arizona		82,667		17,769		64,,898		2004		2004	33 years

	$	37,467,448	$	13,839,868	$	23,627,580

(A) Aggregate cost for federal income tax purposes at January 31, are as follows:

	2012		2011
Land	$	1,856,788	$	1,856,788
Buildings and improvements		19,414,468		20,223,866
	$	21,271,256	$	22,080,654

Reconciliation of Real Estate:

Balance at January 31, 2000	$	37,160,881
Improvement to Hotel Properties	346,358
Disposal of Property Improvements	(308,194		)

Balance at January 31, 2011	$	37,199,045
Improvement to Hotel Properties	301,629
Disposal of Property Improvements	(33,226		)

Balance at January 31, 2012	$	37,467,448

- Definition

The entire disclosure for real estate and accumulated depreciation. This may include a schedule that describes the property and lists the initial cost of land, buildings and improvements, improvements and carrying costs capitalized after acquisition, and the total carrying cost for land, buildings and improvements for each property and in aggregate. The schedule also lists the accumulated depreciation for each property and in aggregate, the date each property was constructed and acquired, the useful life used to calculate depreciation and any encumbrances on the properties. The entity provides a reconciliation of the carrying amount of real estate from the beginning of the period to the end of the period. Any real estate investments that have been written down or reserved against are described, including the basis of the write-down. A material amount of intercompany profit in the total carrying amount of real estate is disclosed. The aggregate cost of all real estate investments for federal income tax purposes is also disclosed.

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