XML 15 R25.htm IDEA: XBRL DOCUMENT
v3.19.3.a.u2

Subsequent Events | 9 Months Ended
--- | ---
Oct. 31, 2019
Subsequent Events [Abstract] |
Subsequent Events | 19. SUBSEQUENT EVENTS Subsequent to the nine months ended October 31, 2019, the Trust repurchased 1,666 Shares of Beneficial Interest on the open market for a total cash repurchase price of approximately $2,900. On December 2, 2019, Albuquerque Suite Hospitality, LLC, a subsidiary of InnSuites Hospitality Trust, entered into a $1.4 million Business Loan Agreement (“Albuquerque Loan”) as a first mortgage credit facility with Republic Bank of Arizona. The Albuquerque Loan has a maturity date of December 2, 2029. The Albuquerque Loan has an initial interest rate of 4.90% for the first five years and thereafter a variable rate equal to the US Treasury + 3.5% with a floor of 4.90% and no prepayment penalty. This credit facility is guaranteed by InnSuites Hospitality Trust. The Albuquerque Loan enabled Albuquerque Suite Hospitality, LLC to repay its intercompany loan to InnSuites Hospitality Trust of approximately $1,257,000 and accrued interest of approximately $80,000 subsequent to the loan funding on December 4, 2019. On December 16, 2019, pursuant to a 2019 Convertible Debenture Purchase Agreement between UniGen and InnSuites Hospitality Trust, seeking diversification of its holdings, IHT has agreed to invest up to $1,500,000 or more in UniGen Power Inc. Details are contained in Innsuites Hospitality Trust’s form 8-K filed with the Securities and Exchange Commission (SEC) on December 20, 2019.

X
- References No definition available. + Details
Name: | us-gaap_SubsequentEventsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 + Details
Name: | us-gaap_SubsequentEventsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration