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REVENUE
 12 Months Ended
Jun. 30, 2025
Revenue from Contract with Customer [Abstract]  
REVENUE

NOTE 3 - REVENUE

 

The following table presents our revenue disaggregated by revenue streams:

 

For the years ended June 30,  2025   2024 
Hotel revenues:          
Hotel rooms  $39,648,000   $35,239,000 
Food and beverage   2,862,000    3,213,000 
Garage   3,214,000    2,988,000 
Other operating departments   639,000    446,000 
Total Hotel revenue  $46,363,000   $41,886,000 

 

Contract Assets and Liabilities

 

The Company does not have any material contract assets as of June 30, 2025 and 2024, other than trade and other receivables, net on our consolidated balance sheets. Our receivables are primarily the result of contracts with customers, which are reduced by an allowance for doubtful accounts that reflects our estimate of amounts that will not be collected.

 

The Company records contract liabilities when cash payments are received or due in advance of guests staying at our hotel, which are presented within accounts payable and other liabilities- Hotel on our consolidated balance sheets and had a balance of $370,000 at July 1, 2024. Contract liabilities were $505,000 as of June 30, 2025. The increase as of June 30, 2025, was primarily driven by an increase in advance deposits received from customers for services to be performed after June 30, 2025.

 

Contract liabilities were $370,000 as of June 30, 2024 compared to $290,000 as of June 30, 2023. The increase for the twelve months ended June 30, 2024 was primarily driven by an increase in advance deposits received from customers for services to be performed after June 30, 2024.

 

Contract Costs

 

We consider sales commissions earned to be incremental costs of obtaining a contract with our customers. As a practical expedient, we expense these costs as incurred as our contracts with customers are less than one year.