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Unaudited Condensed Consolidated Statements of Operations (USD $)
Share data in Millions, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Oct. 31, 2013
Oct. 31, 2012
Oct. 31, 2013
Oct. 31, 2012
REVENUE        
Room $ 2,757,598 $ 2,899,698 $ 10,185,717 $ 10,213,833
Food and Beverage 184,723 233,798 746,485 836,833
Other 50,418 54,828 186,136 162,161
Management and Trademark Fees 46,365 46,861 143,976 213,485
TOTAL REVENUE 3,039,104 3,235,185 11,262,314 11,426,312
OPERATING EXPENSES        
Room 932,177 839,559 2,834,218 2,779,221
Food and Beverage 196,604 248,761 690,870 770,503
Telecommunications 8,815 9,582 23,249 45,658
General and Administrative 690,623 749,107 2,459,796 2,363,403
Sales and Marketing 269,687 252,836 804,916 850,151
Repairs and Maintenance 316,875 320,188 923,115 1,087,408
Hospitality 183,904 179,522 624,062 621,742
Utilities 318,507 343,275 925,906 971,271
Hotel Property Depreciation 434,284 440,016 1,333,765 1,307,203
Real Estate and Personal Property Taxes, Insurance and Ground Rent 195,622 182,780 678,106 727,769
Other 2,515 3,091 6,990 8,144
TOTAL OPERATING EXPENSES 3,549,613 3,568,717 11,304,993 11,532,473
OPERATING LOSS (510,509) (333,532) (42,679) (106,161)
Interest Income 5 14,122 1,816 19,524
TOTAL OTHER INCOME 5 14,122 1,816 19,524
Interest on Mortgage Notes Payable 188,390 236,053 560,233 701,968
Interest on Notes Payable to Banks 8,893 7,841 17,745 8,935
Interest on Other Notes Payable 11,575 7,673 27,877 25,761
TOTAL INTEREST EXPENSE 208,858 251,567 605,855 736,664
CONSOLIDATED NET LOSS (719,362) (570,977) (646,718) (823,301)
LESS: NET INCOME (LOSS) ATTRIBUTABLE TO NON-CONTROLLING INTEREST (108,339) (172,857) 199,737 (195,570)
NET LOSS ATTRIBUTABLE TO CONTROLLING INTERESTS $ (611,023) $ (398,120) $ (846,455) $ (627,731)
NET LOSS PER SHARE – BASIC AND DILUTED (in Dollars per share) $ (0.07) $ (0.05) $ (0.10) $ (0.07)
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING - BASIC AND DILUTED (in Shares) 8,363,876 8,400,593 8,375,835 8,419,415