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INVESTMENT IN HOTEL, NET
 12 Months Ended
Jun. 30, 2025
Investment In Hotel Net  
INVESTMENT IN HOTEL, NET

NOTE 4 – INVESTMENT IN HOTEL, NET

 

Investment in Hotel consisted of the following as of:

 

       Accumulated   Net Book 
June 30, 2025  Cost   Depreciation   Value 
             
Land  $2,738,000   $-   $2,738,000 
Finance lease ROU assets   1,805,000    (1,665,000)   140,000 
Furniture and equipment   41,195,000    (33,248,000)   7,947,000 
Building and improvements   68,527,000    (39,833,000)   28,694,000 
Investment in Hotel, net  $114,265,000   $(74,746,000)  $39,519,000 

 

       Accumulated   Net Book 
June 30, 2024  Cost   Depreciation   Value 
             
Land  $2,738,000   $-   $2,738,000 
Finance lease ROU assets   1,805,000    (1,521,000)   284,000 
Furniture and equipment   40,310,000    (31,396,000)   8,914,000 
Building and improvements   67,159,000    (38,194,000)   28,965,000 
Investment in Hotel, net  $112,012,000   $(71,111,000)  $40,901,000 

 

Note: Accumulated amounts include amortization of finance-lease right-of-use assets. Depreciation and amortization expense related to Hotel assets were $3,634,000 and $3,494,000 for the years ended June 30, 2025 and 2024, respectively.