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OTHER RELATED PARTY TRANSACTIONS
12 Months Ended
Jan. 31, 2022
Other Related Party Transactions  
OTHER RELATED PARTY TRANSACTIONS

19. OTHER RELATED PARTY TRANSACTIONS

 

As of January 31, 2022 and January 31, 2021, Mr. Wirth and his affiliates held 2,974,038 Class B Partnership units, which represented 22.51% of the total outstanding Partnership units, respectively. As of January 31, 2022 and January 31, 2021, Mr. Wirth and his affiliates held 5,876,683 Shares of Beneficial Interest in the Trust, respectively, which represented 64.72% and 61.42% respectively, of the total issued and outstanding Shares of Beneficial Interest.

 

As of January 31, 2022 and January 31, 2021, the Trust owned 75.98 and 75.89% of the Partnership, respectively. As of January 31, 2022, the Partnership owned a 51.01% interest in the InnSuites® hotel located in Tucson. The Trust also owned a direct 21.00% interest in one InnSuites® hotel located in Albuquerque, New Mexico.

 

During the Fiscal Years ended January 31, 2022 and 2021, the Trust paid Berg Investment Advisors $6,000 and $6,000 for additional consultative services rendered by Mr. Marc Berg, the Trust’s Executive Vice President.

 

The Trust employs an immediate family member of Mr. Wirth, Brian James Wirth, who provides technology support services to the Trust, receiving a $62,000 annual salary.