XML 20 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
INVESTMENT IN HOTEL, NET
9 Months Ended
Mar. 31, 2012
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Disclosure [Text Block]

NOTE 2 – INVESTMENT IN HOTEL, NET

 

Investment in hotel consisted of the following as of:

 

          Accumulated     Net Book  
March 31, 2012   Cost     Depreciation     Value  
                         
Land   $ 1,896,000     $ -     $ 1,896,000  
Furniture and equipment     20,638,000       (17,900,000 )     2,738,000  
Building and improvements     51,913,000       (20,179,000 )     31,734,000  
    $ 74,447,000     $ (38,079,000 )   $ 36,368,000  
                         

 

                   
          Accumulated     Net Book  
June 30, 2011   Cost     Depreciation     Value  
                         
Land   $ 1,896,000     $ -     $ 1,896,000  
Furniture and equipment     19,583,000       (17,076,000 )     2,507,000  
Building and improvements     50,834,000       (19,393,000 )     31,441,000  
    $ 72,313,000     $ (36,469,000 )   $ 35,844,000