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Unaudited Consolidated Statements of Operations (USD $)
Share data in Millions, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jul. 31, 2013
Jul. 31, 2012
Jul. 31, 2013
Jul. 31, 2012
REVENUE        
Room $ 3,121,138 $ 3,030,877 $ 7,428,119 $ 7,314,135
Food and Beverage 205,596 243,681 561,762 603,035
Other 57,885 42,776 135,718 107,333
Management and Trademark Fees 42,393 54,168 97,611 166,624
TOTAL REVENUE 3,427,012 3,371,502 8,223,210 8,191,127
OPERATING EXPENSES        
Room 954,550 962,446 1,902,041 1,939,662
Food and Beverage 200,885 258,663 494,266 521,742
Telecommunications 8,895 19,256 14,434 36,076
General and Administrative 946,692 817,924 1,769,173 1,614,296
Sales and Marketing 246,041 313,404 535,229 597,315
Repairs and Maintenance 314,019 371,223 606,240 767,220
Hospitality 212,061 215,197 440,158 442,220
Utilities 343,012 344,326 607,399 627,996
Hotel Property Depreciation 444,850 433,530 899,481 867,187
Real Estate and Personal Property Taxes, Insurance and Ground Rent 256,371 257,857 482,484 544,989
Other 2,032 2,645 4,475 5,053
TOTAL OPERATING EXPENSES 3,929,408 3,996,471 7,755,380 7,963,756
OPERATING INCOME (502,396) (624,969) 467,830 227,371
Interest Income 1,803 5,294 1,811 5,402
TOTAL OTHER INCOME 1,803 5,294 1,811 5,402
Interest on Mortgage Notes Payable 190,686 267,946 371,843 465,915
Interest on Notes Payable to Banks 8,852 890 8,852 1,094
Interest on Other Notes Payable 10,440 8,635 16,302 18,088
TOTAL INTEREST EXPENSE 209,978 277,471 396,997 485,097
CONSOLIDATED NET INCOME (LOSS) (710,571) (897,146) 72,644 (252,324)
LESS: NET INCOME (LOSS) ATTRIBUTABLE TO NON-CONTROLLING INTEREST (43,514) (213,281) 303,693 (30,547)
NET LOSS ATTRIBUTABLE TO CONTROLLING INTERESTS $ (667,057) $ (683,865) $ (231,049) $ (221,777)
NET LOSS PER SHARE – BASIC AND DILUTED (in Dollars per share) $ (0.08) $ (0.08) $ (0.03) $ (0.03)
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING - BASIC AND DILUTED (in Shares) 8,376,472 8,417,899 8,381,868 8,429,911