INVESTMENT IN HOTEL, NET (Tables)

9 Months Ended

Mar. 31, 2013

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment [Table Text Block]

Investment in hotel consisted of the following as of:

			Accumulated		Net Book
March 31, 2013	Cost		Depreciation		Value
Land	$	1,896,000	$	-	$	1,896,000
Furniture and equipment		21,954,000		(19,038,000)		2,916,000
Building and improvements		53,795,000		(21,291,000)		32,504,000
	$	77,645,000	$	(40,329,000)	$	37,316,000

			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