INVESTMENT IN HOTEL, NET (Tables)

3 Months Ended

Sep. 30, 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
September 30, 2013	Cost		Depreciation		Value
Land	$	1,896,000	$	-	$	1,896,000
Furniture and equipment		22,359,000		(19,653,000)		2,706,000
Building and improvements		54,758,000		(21,869,000)		32,889,000
	$	79,013,000	$	(41,522,000)	$	37,491,000
			Accumulated		Net Book
June 30, 2013	Cost		Depreciation		Value
Land	$	1,896,000	$	-	$	1,896,000
Furniture and equipment		22,270,000		(19,312,000)		2,958,000
Building and improvements		54,327,000		(21,570,000)		32,757,000
	$	78,493,000	$	(40,882,000)	$	37,611,000