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

12 Months Ended

Jan. 31, 2015

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

7.   PROPERTY, PLANT, AND EQUIPMENT AND HOTEL PROPERTIES

As of January 31, 2015 and 2014, hotel properties consisted of the following:

	2015			2014
Land	$	5,534,150		$	3,034,150
Building and improvements		35,050,637			34,236,297
Furniture, fixtures and equipment		5,695,356			5,167,117
Total hotel properties		46,280,143			42,437,564
Less accumulated depreciation		(20,466,347	)		(18,767,369	)
Hotel Properties in Service, net		25,813,796			23,670,195
Construction in progress		4,650			2,520
Hotel properties, net	$	25,818,446		$	23,672,715

As of January 31, 2015 and 2014, property, plant and equipment consisted of the following:

	2015			2014
Land	$	7,005		$	7,005
Building and improvements		75,662			75,662
Furniture, fixtures and equipment		388,565			380,846
Total property, plant and equipment		471,232			463,513
Less accumulated depreciation		(395,140	)		(374,165	)
Property, Plant and Equipment, net	$	76,092		$	89,348

During the twelve month period ending January 31, 2015, gross hotel properties increased by approximately $3,843,000, which included a $2,500,000 land purchase under our Tucson Oracle building, and additional building improvements and furniture, fixtures and equipment.