INVESTMENT IN HOTEL, NET (Tables)

6 Months Ended

Dec. 31, 2012

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment [Table Text Block]

Investment in hotel consisted of the following as of:

			Accumulated			Net Book
December 31, 2012	Cost		Depreciation			Value
Land	$	1,896,000	$	-		$	1,896,000
Furniture and equipment		21,733,000		(18,775,000	)		2,958,000
Building and improvements		52,847,000		(21,016,000	)		31,831,000
	$	76,476,000	$	(39,791,000	)	$	36,685,000

			Accumulated			Net Book
June 30, 2012	Cost		Depreciation			Value
Land	$	1,896,000	$	-		$	1,896,000
Furniture and equipment		20,855,000		(18,187,000	)		2,668,000
Building and improvements		52,383,000		(20,466,000	)		31,917,000
	$	75,134,000	$	(38,653,000	)	$	36,481,000