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<SEC-DOCUMENT>0001104659-06-003467.txt : 20060705
<SEC-HEADER>0001104659-06-003467.hdr.sgml : 20060704
<ACCEPTANCE-DATETIME>20060124113111
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001104659-06-003467
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20060124

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			INNSUITES HOSPITALITY TRUST
		CENTRAL INDEX KEY:			0000082473
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				346647590
		STATE OF INCORPORATION:			OH
		FISCAL YEAR END:			0131

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		INNSUITES HOTELS CENTRE
		STREET 2:		1625 E NORTHERN AVE STE 201
		CITY:			PHOENIX
		STATE:			AZ
		ZIP:			85020
		BUSINESS PHONE:		2166220046

	MAIL ADDRESS:	
		STREET 1:		925 EUCLID AVENUE
		STREET 2:		SUITE 1750
		CITY:			CLEVELAND
		STATE:			OH
		ZIP:			44115

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	REALTY REFUND TRUST
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
<TEXT>
<html>

<head>





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<body lang="EN-US">

<div style="font-family:Times New Roman;">

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[Letterhead of Thompson Hine LLP]</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">January 24, 2006</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">By EDGAR and Fax</font></i></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Linda
van Doorn</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Senior
Assistant Chief Accountant</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">U.S.
Securities and Exchange Commission</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">100
F Street, N.E.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Washington,
D.C. 20549</font></p>

<p style="margin:0in 0in .0001pt 23.0pt;text-indent:-23.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:uppercase;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 23.05pt;text-indent:-23.05pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:uppercase;">Re:</font><font size="1" style="font-size:8.0pt;">&#160;&#160;&#160; </font>InnSuites Hospitality Trust<br>
Form 10-K for the year ended January 31, 2005<br>
Form 10-Q for the quarter ended April 30, 2005<br>
Form 10-Q for the quarter ended July 31, 2005<br>
Form 10-Q for the quarter ended October 31, 2005<br>
File No. 1-07062</p>

<p style="margin:0in 0in .0001pt 23.0pt;text-indent:-23.0pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Dear Ms. van Doorn:</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This letter is in response
to your letter dated January 11, 2006 addressed to Anthony B. Waters, Chief
Financial Officer of InnSuites Hospitality Trust (the &#147;Trust&#148;).</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Your letter indicated that
the Securities and Exchange Commission staff&#146;s comments should be addressed in
the Trust&#146;s filings with the SEC to the extent applicable.&#160; Further, your letter indicated that where the
Trust&#146;s management felt appropriate, an explanation should be made as to why a
comment is considered to be inapplicable or why a revision of the Trust&#146;s
related disclosures is unnecessary.&#160; As
indicated in the responses below, the Trust will address the staff&#146;s comments
in its filings, either by amending its past filings or reflecting the staff&#146;s
comments in its future filings.&#160; Please
advise us if you are comfortable with this approach to your comments.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Trust believes that the
filings that are the subject of your letter were in material compliance with
federal securities laws at the time of their filing, but nonetheless agree that
disclosure practices are subject to continuous refinement.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The numbers of the items
shown below in this response letter correspond to the similarly-numbered staff
comments in your January 11 letter.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Form
10-K for the year ended January 31, 2005</font></u></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Management&#146;s
Discussion and Analysis of Financial Condition and Results of Operations</font></u></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Liquidity
and Capital Resources, page 13</font></u></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Please revise your discussion of cash flows
provided by operating activities to discuss the underlying drivers impacting
the changes in working capital.&#160; Refer to
SEC Release 33-8350.</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
underlying drivers impacting the changes in working capital are discussed in
more detail on page 9 in the second, third and fourth paragraphs under the
heading &#147;Overview&#148; of Item 2, Management&#146;s Discussion and Analysis of Financial
Condition and Results of Operations.&#160;
Pursuant to your request, in future filings, the Trust will add a
discussion of these drivers under the heading &#147;Liquidity and Capital Resources&#148;
as well.</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Contractual Obligations,
page 16</font></u></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Please revise your disclosure to include
interest in your table or a discussion in the text.&#160; Refer to SEC Release 33-8350.</p>

<p style="margin:0in 0in .0001pt .25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pursuant
to your request and in accordance with the guidance contained in SEC Release
No. 33-8350 (particularly footnote 46 thereof), the Trust will amend its Form
10-K for the year ended January 31, 2005 to include a discussion in the text
following the table of interest due in future periods, including the amount and
timing of such interest payments.</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Consolidated Financial
Statements</font></u></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Note 19 &#150; Properties Held
for Sale and Sale of Hotel Properties</font></u></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>With respect to your hotel properties held
for sale and sold during the year, please tell us how you analyzed the
conditions outlined in paragraph 42 of SFAS 144 in evaluating whether the
properties qualified for reporting as discontinued operations.&#160; In addition, please advise us and expand your
accounting policy disclosure to clarify how you determine whether the disposal
of hotel properties should be accounted for as discontinued operations.&#160; If the reason these properties were not
accounted for as discontinued operations was because of the registrant&#146;s
continuing involvement with those properties as outlined in EITF 03-13, please
clarify that to us and expand your accounting policy in future filings to
clarify this.&#160; Please note that each
property disposition typically represents a component of the business and as
such is accounted for as discontinued operations under SFAS 144.</p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The properties listed in Note 19 &#150; &#147;Properties Held for Sale and Sale
of Hotel Properties&#148; were not accounted for as discontinued operations.&#160;&#160; Based upon EITF Abstract Issue No. 03-13 &#147;Applying
the Conditions in Paragraph 42 of FASB Statement No. 144, Accounting for the
Impairment or Disposal of Long-Lived Assets, in Determining Whether to Report
Discontinued Operations,&#148; the Trust concluded that it is not necessary to
report as discontinued operations hotels &#147;held for sale&#148; or &#147;disposed of&#148; when
the Trust maintains significant continuing involvement.&#160; The Trust provides management, trademark, reservations
and advertising services to the Tempe, San Diego and Phoenix hotels, which
provides the Trust the ability to influence significantly the operating and
financial polices of these hotels and which we believe constitutes significant
continuing involvement for purposes of EITF 03-13.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pursuant to your request,
the Trust will expand its accounting policy discussion in future filings to
clarify why the Trust did not report certain hotel dispositions as discontinued
operations.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Item 9A &#150; Controls and
Procedures, page 48</font></u></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>We note the statement that your principal
executive officer and principal financial officer concluded, &#147;except as
described below,&#148; that the Trust&#146;s disclosure controls and procedures are
effective.&#160; Given the exceptions noted,
it remains unclear whether your principal executive officer and principal
financial officer have concluded that your disclosure controls and procedures
are effective.&#160; Please revise your
disclosure to state, in clear and unqualified language, the conclusions reached
by your principal executive officer and your principal financial officer on the
effectiveness of your disclosure controls and procedures.&#160; For example, if true, you may state that your
disclosure controls and procedures are effective including consideration of the
identified matters, so long as your provide appropriate disclosure explaining
how the disclosure controls and procedures were determined to be effective in
light of the identified matters.&#160; Or, if
true, you may state that given the identified matters, your disclosure controls
and procedures are not effective.&#160; You
may not, however, state that your disclosure controls and procedures are
effective except to the extent that they are not effective.</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pursuant
to your request, the Trust will amend its Form 10-K for the year ended January
31, 2005 to state that the principal executive officer and the principal
financial officer concluded that the Trust&#146;s disclosure controls are effective
including consideration of the identified matters and to provide appropriate
disclosure explaining how the disclosure controls and procedures were
determined to be effective in light of the identified matters.&#160; We propose to amend the first paragraph of
Item 9A to read as follows:</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;As
of the end of the period covered by this report, the Trust conducted an
evaluation, under the supervision and with the participation of the principal
executive officer and principal financial officer, of the Trust&#146;s disclosure
controls and procedures (as defined in Rules&nbsp;13a-15(e)&nbsp;and 15d-15(e)&nbsp;under
the Securities Exchange Act of 1934). Based on this evaluation, the principal
executive officer and principal financial officer concluded that the Trust&#146;s
disclosure controls and procedures are effective to ensure that information
required to be disclosed by the Trust in reports that it files or submits under
the Securities Exchange Act of 1934 is recorded, processed, summarized and
reported within the time periods specified in the Commission&#146;s rules&nbsp;and
forms.&#160; During the fourth quarter of
fiscal year 2005, the Trust took the actions described below to strengthen its
disclosure controls and procedures and internal control over financial
reporting in response to the issues described below that were identified by the
Trust&#146;s management and independent accountants.&#160;
These actions enabled the principal executive officer and principal
financial officer to conclude that the Trust&#146;s disclosure controls and
procedures remained effective.&#160; Except as
described below, there was no change in the Trust&#146;s internal control over
financial reporting during the Trust&#146;s most recently completed fiscal year that
has materially affected, or is reasonably likely to materially affect, the
Trust&#146;s internal control over financial reporting.&#148;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Form 10-Q for the quarter
ended July 31, 2005</font></u></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Consolidated Financial
Statements</font></u></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Note 6 &#150; Sale of Hotel
Property, page 9</font></u></p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>We note that the gain on the sale of your
Phoenix, Arizona hotel was recorded as a capital contribution due to the
relationship between Wirth and the Trust.&#160;
Please clarify for us your basis in GAAP for accounting for the gain on
this transaction as a capital transaction.&#160;
Clarify to us if the appraised value of the property was not considered
to be a reliable estimate of the fair value of the property, and if so, explain
why.&#160; If the accounting was based on your
conclusion that Phoenix Northern Resort LLC and the Trust are under the common
control of Mr. Wirth, clarify to us how the criteria of EITF 02-5 were
met.&#160; In addition, describe to us the
nature of any continuing involvement the registrant has with the sold hotel and
how that continuing involvement was considered in the context of whether a sale
should be recognized under SFAS 66.</p>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">As
a result of your comment, the Trust has reviewed its accounting with respect to
this transaction and has decided to amend its filings on Form 10-Q for the
quarterly periods ended July 31, 2005 and October 31, 2005 to account for the
gain on sale of the Phoenix hotel as income instead of a capital
contribution.&#160; In response to your
comment and your request for clarification, we note the following:</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Accounting
for the sale of the Phoenix hotel as a capital transaction was based on our
conservative judgment regarding the transaction which considered Mr. Wirth&#146;s
66.7% ownership of the Trust&#146;s Shares of Beneficial Interest, his initial
involvement in forming Phoenix Northern Resort LLC, his ownership, at the time
of sale, of a 35.4% interest in Phoenix Northern Resort LLC, and the role of
Rare Earth Financial, an affiliate of Mr. Wirth, as the administrative member
of Phoenix Northern Resort LLC.&#160; However,
upon further consideration, the Trust has determined that the criteria of EITF
02-5 were not met because neither Mr. Wirth, members of his family nor any
affiliated group held more than 50% of the voting ownership interest of each
entity.</p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The
Trust considered the appraised value of the property to be a reliable estimate
of the fair value of the property.</p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&#149;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The
Trust has continuing involvement with the hotel through management and
licensing agreements which are based on a percentage of revenue and paid
monthly. A sale was recognized under SFAS 66 since the usual risks and rewards
of ownership were passed to the buyer.</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Trust acknowledges that the Trust is responsible
for the adequacy and accuracy of the disclosure in its filings; staff comments
or changes to disclosure in response to staff comments do not foreclose the SEC
from taking any action with respect to a filing; and the Trust may not assert
staff comments as a defense in any proceeding initiated by the SEC or any
person under the federal securities laws of the United States.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

</div>
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<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Please call me at (216) 566-5738 or Anthony Waters
at (602) 944-1500 x207 if you have any questions.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Very truly yours,</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="15%" colspan="2" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:15.2%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Daniel T. Young</font></p>
  </td>
  <td width="84%" valign="top" style="padding:0in .7pt 0in .7pt;width:84.8%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="3" valign="top" style="padding:0in .7pt 0in .7pt;width:100.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="3" valign="top" style="padding:0in .7pt 0in .7pt;width:100.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Daniel
  T. Young</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="94%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:94.48%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">cc:</font></p>
  </td>
  <td width="94%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:94.48%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">James
  Wirth, InnSuites Hospitality Trust</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="94%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:94.48%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Anthony
  Waters, InnSuites Hospitality Trust</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="94%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:94.48%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Mark
  Weber, Epstein, Weber &amp; Conover, P.L.C.</font></p>
  </td>
 </tr>
 <tr height="0">
  <td width="41" style="border:none;"></td>
  <td width="72" style="border:none;"></td>
  <td width="634" style="border:none;"></td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5</font></p>

<div style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

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