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SUBSEQUENT EVENTS | 12 Months Ended
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Jan. 31, 2022
Subsequent Events [Abstract] |
SUBSEQUENT EVENTS | 28. SUBSEQUENT EVENTS Subsequent to the Fiscal Year ended January 31, 2022 the Trust repurchased 201,676 Shares of Beneficial Interest on the open market for a total cash repurchase price of approximately $211,000. On March 30, 2020 Tucson Hospitality Properties LLLP , 51% owned by RRF Limited partnership, a subsidiary of InnSuites Hospitality Trust, funded a new loan for $ 8.4 million to refinance it’s relatively low $ 4.4 million first position debt along with $ 3.8 million in inter-company advances used to complete the Best Western product improvement plan PIP refurbishment of the Hotel at a lower blended interest rate of 4.99% financed on a 25 year amortization with no prepayment penalty and no balloon. RRF LP repaid prior advances in full to its parent InnSuites Hospitality Trust (IHT), and InnSuites Hospitality Trust (IHT) repaid prior advances in full to affiliate Rare Earth Financial. Hotel Operation results of the Albuquerque Hotel and the Tucson Hotel both achieved record results for the combined months of February and March 2022. Tucson hotel total revenues were $998,740, (up $457,943 from the same two months last year), and Gross operating profits recorded of $532,958, (up $357,858 from the same period last year). Albuquerque total revenues for the same two months were $508,373, (up $185,806 from the same two month period last year), and gross operating profit recorded was $133,551 (up $107,771 from last year), both records for this two month period.

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- 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://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI https://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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