we purchased 75,726 partnership units during the year ended january 31 , 2012. we did not purchase any partnership units during the year ended january 31 , 2011. our expenses consist primarily of property taxes , insurance , corporate overhead , interest on mortgage debt , professional fees , depreciation of the hotels and hotel operating expenses . hotel operating expenses consist primarily of payroll , guest and maintenance supplies , marketing and utilities expenses . under the terms of its partnership agreement , the partnership is required to reimburse us for all such expenses . accordingly , management believes that a review of the historical performance of the operations of the hotels , particularly with respect to occupancy , which is calculated as rooms sold divided by total rooms available , average daily rate ( “ adr ” ) , calculated as total room revenue divided by number of rooms sold , and revenue per available room ( “ revpar ” ) , calculated as total room revenue divided by number of rooms available , is appropriate for understanding revenue from the hotels . in fiscal year 2012 , occupancy increased 6.77 % to 61.73 % from 54.96 % in the prior year . adr decreased by $ 0.01 to $ 71.20 in fiscal year 2012 from $ 71.21 in fiscal year 2011. the increase in occupancy and adr remaining stable resulted in an increase in revpar of $ 4.81 to $ 43.95 in fiscal year 2012 from $ 39.14 in fiscal year 2011. the increased occupancy and stable rates reflect the improving economy and travel industry during fiscal year 2012 . 5 the following table shows certain historical financial and other information for the periods indicated : replace_table_token_4_th no assurance can be given that occupancy , adr and revpar will not increase or decrease as a result of changes in national or local economic or hospitality industry conditions . we enter into transactions with certain related parties from time to time . for information relating to such related party transactions see the following : for a discussion of management and licensing agreements with certain related parties , see “ item 1 – business – management and licensing contracts . ” for a discussion of guarantees of our mortgage notes payable by certain related parties , see note 10 to our consolidated financial statements – “ mortgage notes payable . ” for a discussion of our equity sales and restructuring agreements involving certain related parties , see notes 3 , 4 and 5 to our consolidated financial statements – “ sale of ownership interests in albuquerque subsidiary , ” “ restructuring agreement for tucson hospitality properties subsidiary , ” and restructuring agreement for ontario hospitality properties subsidiary , ” respectively . for a discussion of other related party transactions , see note 16 to our consolidated financial statements – “ other related party transactions . ” results of operations of the trust for the year ended january 31 , 2012 compared to the year ended january 31 , 2011. overview a summary of operating results for the fiscal years ended january 31 is : replace_table_token_5_th our overall results in fiscal year 2012 were positively affected by the improving economic environment and the hospitality industry in particular . for the twelve months ended january 31 , 2012 , we had total revenue of $ 17.1 million compared to $ 15.7 million for the twelve months ended january 31 , 2011 , an increase of approximately $ 1.3 million . this increase in total revenue is primarily due to higher occupancies at the hotels , resulting in increased room revenues . during fiscal year 2013 , we expect improvements in occupancy and modest improvements in rates . total expenses of $ 18.3 million for the twelve months ended january 31 , 2012 reflect a decrease of approximately $ 123,000 compared to total expenses of $ 18.4 million for the twelve months ended january 31 , 2011. the decrease was primarily due to reduced payroll expense under the management contracts . general and administrative expenses include overhead charges for management , accounting , shareholder and legal services . general and administrative expenses of $ 3.1 million for the twelve months ended january 31 , 2012 increased $ 165,000 from $ 2.9 million for the twelve months ended january 31 , 2011 primarily due to increased occupancies at the hotels . sales and marketing expenses of $ 1.1 million for the twelve months ended january 31 , 2012 were consistent with the prior year . total operating expenses of $ 17.0 million for the twelve months ended january 31 , 2012 were consistent with the prior year . considering the increased occupancy , this reflects the benefits of improved cost control . total interest expense for the twelve months ended january 31 , 2012 was $ 1.5 million , a decrease of $ 61,000 from $ 1.6 million for the twelve months ended january 31 , 2011. the decrease was primarily due to reduced interest on mortgage notes payable , which decreased by $ 58,000 , and lower principal balances . we had a consolidated net loss before income taxes of $ 1.4 million for the twelve months ended january 31 , 2012 , compared to $ 2.7 million in the prior year . after deducting the loss allocated to the minority interest of $ 369,603 , we had a net loss attributable to controlling interests of approximately $ 1.1 million for fiscal year 2012 , which represented approximately $ 902,000 in additional income attributable to controlling interests , as compared to the twelve months ended january 31 , 2011. basic and diluted net loss per share was $ ( 0.13 ) for the twelve months ended january 31 , 2012 , compared to $ ( 0.23 ) for fiscal year 2011. the change from the prior year is primarily attributable to increased business levels at the hotel properties . story_separator_special_tag we began our long-term corporate strategy when we relinquished our reit income tax status in january 2004 , which had previously prevented us from providing management services to hotels . in june 2004 , we acquired our trademark license and management agreements and began providing management , trademark and reservations services to our hotels . the table below lists the hotel properties , their respective carrying and mortgage value and the estimated sales value for the hotel properties . replace_table_token_7_th the ontario mortgage balance was written down by $ 500,000 by the lender and we paid down the mortgage balance by $ 1.0 million pursuant to the terms of our loan modification agreement executed on february 14 , 2012. the balance after the modification and the $ 1.0 million repayment was $ 5,905,289. the listed asking price is the amount at which we would sell each of the hotels and is based on the original listed selling price adjusted to reflect recent hotel sales in the hotels ' areas of operation and current earnings of each of the hotels . the listed asking price is not based on appraisals of the properties . there is no assurance that the listed sales price for the individual hotel properties will be realized . however , our management believes that these values are reasonable based on local market conditions and comparable sales . changes in market conditions have in part resulted , and may in the future result , in our changing one or all of the sales prices . we provide trademark licensing , management , reservation and advertising services to all the hotel properties listed above and expect to continue the trademark licensing services , which include the reservation and advertising services , and or continue the management services , which also include the reservation and advertising services , after the hotels are sold . if any or all of these hotel properties are sold , our future management and or licensing fees could be reduced if the purchaser did not continue to retain innsuites hotels to provide those services . in the past , when we have sold hotel properties to unrelated third parties , we have continued to provide management and or trademark licensing and reservation services after a sale . however , there can be no assurance that we will be able to successfully do so in the future . as part of the board study for 2008-2009 , greater emphasis has been placed on priority for additional management , trademark and reservations fee income . we have determined that it is easier to sell management contracts when the trademark services are also provided . as part of the emphasis on trademark services , we have developed two trademark packages . the first is the “ traditional innsuites hotels & suites ” regional package and the second is the “ innsuites boutique hotel collection , ” which now includes three affiliate hotels managed by us , the five trust hotels and fifty-one unrelated hotels . sales and marketing for the expansion of the innsuites boutique hotel collection are being handled internally . 9 share repurchase program for information on the trust 's share repurchase program , see part ii , item 5 . “ market for the trust 's shares , related shareholder matters and trust purchases of shares . ” off-balance sheet financings and liabilities other than lease commitments and legal contingencies incurred in the normal course of business , we do not have any off-balance sheet financing arrangements or liabilities . we do not have any majority-owned subsidiaries that are not included in our consolidated financial statements . see note 2 - “ new accounting pronouncements ” for a discussion of new accounting interpretations with respect to variable interest entities and the impact of such interpretations on us . critical accounting policies and estimates we believe that the policies we follow for the valuation of our hotel properties , which constitute the majority of our assets , are our most critical policies . the financial accounting standards board ( “ fasb ” ) has issued authoritative guidance related to the impairment or disposal of long-lived assets , codified in asc topic 360-10-35 , which we apply to determine when it is necessary to test an asset for recoverability . on an events and circumstances basis , we review the carrying value of our hotel properties . we will record an impairment loss and reduce the carrying value of a property when anticipated undiscounted future cash flows and the current market value of the property do not support its carrying value . in cases where we do not expect to recover the carrying cost of hotel properties held for use , we will reduce the carrying value to the fair value of the hotel , as determined by a current appraisal or other acceptable valuation methods . we did not recognize impairment loss in fiscal years 2012 or 2011. as of january 31 , 2012 , our management does not believe that the carrying values of any of its hotel properties are impaired . inflation we rely entirely on the performance of the hotels and innsuites hotels ' ability to increase revenue to keep pace with inflation . operators of hotels in general and innsuites hotels in particular can change room rates quickly , but competitive pressures may limit innsuites hotels ' ability to raise rates as fast as or faster than inflation . average daily rate per room declined $ 0.01 in the most recent fiscal year ended january 31 , 2012. forward-looking statements certain statements in this form 10-k , including statements containing the phrases “ believes , ” “ intends , ” “ expects , ” “ anticipates , ” “ predicts , ” “ projects , ” “ will be , ” “ should be , ” “ looking ahead , ” “ may ” or similar words , constitute “ forward-looking statements

liquidity and capital resources overview our principal source of cash to meet our cash requirements , including distributions to our shareholders , is our share of the partnership 's cash flow , quarterly distributions from albuquerque , new mexico hotel property and our direct ownership of the yuma , arizona property . the partnership 's principal source of revenue is hotel operations for the two hotel properties it owns and quarterly distributions from the tucson , arizona property . our liquidity , including our ability to make distributions to our shareholders , will depend upon our ability and the partnership 's ability to generate sufficient cash flow from hotel operations . hotel operations are significantly affected by occupancy and room rates at the hotels with occupancy significantly increasing and adr remaining stable during fiscal year 2012 , our ability to manage costs , and changes in the number of available suites caused by acquisition and disposition activities . results are also significantly impacted by overall economic conditions and conditions in the travel industry . unfavorable changes in these factors negatively impact hotel room demand and pricing , which reduces our profit margins on rented suites . in past years , we have relied on our cash flows from operations and hotel refinancing to meet our financial obligations as they come due .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources overview our principal source of cash to meet our cash requirements , including distributions to our shareholders , is our share of the partnership 's cash flow , quarterly distributions from albuquerque , new mexico hotel property and our direct ownership of the yuma , arizona property . the partnership 's principal source of revenue is hotel operations for the two hotel properties it owns and quarterly distributions from the tucson , arizona property . our liquidity , including our ability to make distributions to our shareholders , will depend upon our ability and the partnership 's ability to generate sufficient cash flow from hotel operations . hotel operations are significantly affected by occupancy and room rates at the hotels with occupancy significantly increasing and adr remaining stable during fiscal year 2012 , our ability to manage costs , and changes in the number of available suites caused by acquisition and disposition activities . results are also significantly impacted by overall economic conditions and conditions in the travel industry . unfavorable changes in these factors negatively impact hotel room demand and pricing , which reduces our profit margins on rented suites . in past years , we have relied on our cash flows from operations and hotel refinancing to meet our financial obligations as they come due .
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 Suspicious Activity Report : we purchased 75,726 partnership units during the year ended january 31 , 2012. we did not purchase any partnership units during the year ended january 31 , 2011. our expenses consist primarily of property taxes , insurance , corporate overhead , interest on mortgage debt , professional fees , depreciation of the hotels and hotel operating expenses . hotel operating expenses consist primarily of payroll , guest and maintenance supplies , marketing and utilities expenses . under the terms of its partnership agreement , the partnership is required to reimburse us for all such expenses . accordingly , management believes that a review of the historical performance of the operations of the hotels , particularly with respect to occupancy , which is calculated as rooms sold divided by total rooms available , average daily rate ( “ adr ” ) , calculated as total room revenue divided by number of rooms sold , and revenue per available room ( “ revpar ” ) , calculated as total room revenue divided by number of rooms available , is appropriate for understanding revenue from the hotels . in fiscal year 2012 , occupancy increased 6.77 % to 61.73 % from 54.96 % in the prior year . adr decreased by $ 0.01 to $ 71.20 in fiscal year 2012 from $ 71.21 in fiscal year 2011. the increase in occupancy and adr remaining stable resulted in an increase in revpar of $ 4.81 to $ 43.95 in fiscal year 2012 from $ 39.14 in fiscal year 2011. the increased occupancy and stable rates reflect the improving economy and travel industry during fiscal year 2012 . 5 the following table shows certain historical financial and other information for the periods indicated : replace_table_token_4_th no assurance can be given that occupancy , adr and revpar will not increase or decrease as a result of changes in national or local economic or hospitality industry conditions . we enter into transactions with certain related parties from time to time . for information relating to such related party transactions see the following : for a discussion of management and licensing agreements with certain related parties , see “ item 1 – business – management and licensing contracts . ” for a discussion of guarantees of our mortgage notes payable by certain related parties , see note 10 to our consolidated financial statements – “ mortgage notes payable . ” for a discussion of our equity sales and restructuring agreements involving certain related parties , see notes 3 , 4 and 5 to our consolidated financial statements – “ sale of ownership interests in albuquerque subsidiary , ” “ restructuring agreement for tucson hospitality properties subsidiary , ” and restructuring agreement for ontario hospitality properties subsidiary , ” respectively . for a discussion of other related party transactions , see note 16 to our consolidated financial statements – “ other related party transactions . ” results of operations of the trust for the year ended january 31 , 2012 compared to the year ended january 31 , 2011. overview a summary of operating results for the fiscal years ended january 31 is : replace_table_token_5_th our overall results in fiscal year 2012 were positively affected by the improving economic environment and the hospitality industry in particular . for the twelve months ended january 31 , 2012 , we had total revenue of $ 17.1 million compared to $ 15.7 million for the twelve months ended january 31 , 2011 , an increase of approximately $ 1.3 million . this increase in total revenue is primarily due to higher occupancies at the hotels , resulting in increased room revenues . during fiscal year 2013 , we expect improvements in occupancy and modest improvements in rates . total expenses of $ 18.3 million for the twelve months ended january 31 , 2012 reflect a decrease of approximately $ 123,000 compared to total expenses of $ 18.4 million for the twelve months ended january 31 , 2011. the decrease was primarily due to reduced payroll expense under the management contracts . general and administrative expenses include overhead charges for management , accounting , shareholder and legal services . general and administrative expenses of $ 3.1 million for the twelve months ended january 31 , 2012 increased $ 165,000 from $ 2.9 million for the twelve months ended january 31 , 2011 primarily due to increased occupancies at the hotels . sales and marketing expenses of $ 1.1 million for the twelve months ended january 31 , 2012 were consistent with the prior year . total operating expenses of $ 17.0 million for the twelve months ended january 31 , 2012 were consistent with the prior year . considering the increased occupancy , this reflects the benefits of improved cost control . total interest expense for the twelve months ended january 31 , 2012 was $ 1.5 million , a decrease of $ 61,000 from $ 1.6 million for the twelve months ended january 31 , 2011. the decrease was primarily due to reduced interest on mortgage notes payable , which decreased by $ 58,000 , and lower principal balances . we had a consolidated net loss before income taxes of $ 1.4 million for the twelve months ended january 31 , 2012 , compared to $ 2.7 million in the prior year . after deducting the loss allocated to the minority interest of $ 369,603 , we had a net loss attributable to controlling interests of approximately $ 1.1 million for fiscal year 2012 , which represented approximately $ 902,000 in additional income attributable to controlling interests , as compared to the twelve months ended january 31 , 2011. basic and diluted net loss per share was $ ( 0.13 ) for the twelve months ended january 31 , 2012 , compared to $ ( 0.23 ) for fiscal year 2011. the change from the prior year is primarily attributable to increased business levels at the hotel properties . story_separator_special_tag we began our long-term corporate strategy when we relinquished our reit income tax status in january 2004 , which had previously prevented us from providing management services to hotels . in june 2004 , we acquired our trademark license and management agreements and began providing management , trademark and reservations services to our hotels . the table below lists the hotel properties , their respective carrying and mortgage value and the estimated sales value for the hotel properties . replace_table_token_7_th the ontario mortgage balance was written down by $ 500,000 by the lender and we paid down the mortgage balance by $ 1.0 million pursuant to the terms of our loan modification agreement executed on february 14 , 2012. the balance after the modification and the $ 1.0 million repayment was $ 5,905,289. the listed asking price is the amount at which we would sell each of the hotels and is based on the original listed selling price adjusted to reflect recent hotel sales in the hotels ' areas of operation and current earnings of each of the hotels . the listed asking price is not based on appraisals of the properties . there is no assurance that the listed sales price for the individual hotel properties will be realized . however , our management believes that these values are reasonable based on local market conditions and comparable sales . changes in market conditions have in part resulted , and may in the future result , in our changing one or all of the sales prices . we provide trademark licensing , management , reservation and advertising services to all the hotel properties listed above and expect to continue the trademark licensing services , which include the reservation and advertising services , and or continue the management services , which also include the reservation and advertising services , after the hotels are sold . if any or all of these hotel properties are sold , our future management and or licensing fees could be reduced if the purchaser did not continue to retain innsuites hotels to provide those services . in the past , when we have sold hotel properties to unrelated third parties , we have continued to provide management and or trademark licensing and reservation services after a sale . however , there can be no assurance that we will be able to successfully do so in the future . as part of the board study for 2008-2009 , greater emphasis has been placed on priority for additional management , trademark and reservations fee income . we have determined that it is easier to sell management contracts when the trademark services are also provided . as part of the emphasis on trademark services , we have developed two trademark packages . the first is the “ traditional innsuites hotels & suites ” regional package and the second is the “ innsuites boutique hotel collection , ” which now includes three affiliate hotels managed by us , the five trust hotels and fifty-one unrelated hotels . sales and marketing for the expansion of the innsuites boutique hotel collection are being handled internally . 9 share repurchase program for information on the trust 's share repurchase program , see part ii , item 5 . “ market for the trust 's shares , related shareholder matters and trust purchases of shares . ” off-balance sheet financings and liabilities other than lease commitments and legal contingencies incurred in the normal course of business , we do not have any off-balance sheet financing arrangements or liabilities . we do not have any majority-owned subsidiaries that are not included in our consolidated financial statements . see note 2 - “ new accounting pronouncements ” for a discussion of new accounting interpretations with respect to variable interest entities and the impact of such interpretations on us . critical accounting policies and estimates we believe that the policies we follow for the valuation of our hotel properties , which constitute the majority of our assets , are our most critical policies . the financial accounting standards board ( “ fasb ” ) has issued authoritative guidance related to the impairment or disposal of long-lived assets , codified in asc topic 360-10-35 , which we apply to determine when it is necessary to test an asset for recoverability . on an events and circumstances basis , we review the carrying value of our hotel properties . we will record an impairment loss and reduce the carrying value of a property when anticipated undiscounted future cash flows and the current market value of the property do not support its carrying value . in cases where we do not expect to recover the carrying cost of hotel properties held for use , we will reduce the carrying value to the fair value of the hotel , as determined by a current appraisal or other acceptable valuation methods . we did not recognize impairment loss in fiscal years 2012 or 2011. as of january 31 , 2012 , our management does not believe that the carrying values of any of its hotel properties are impaired . inflation we rely entirely on the performance of the hotels and innsuites hotels ' ability to increase revenue to keep pace with inflation . operators of hotels in general and innsuites hotels in particular can change room rates quickly , but competitive pressures may limit innsuites hotels ' ability to raise rates as fast as or faster than inflation . average daily rate per room declined $ 0.01 in the most recent fiscal year ended january 31 , 2012. forward-looking statements certain statements in this form 10-k , including statements containing the phrases “ believes , ” “ intends , ” “ expects , ” “ anticipates , ” “ predicts , ” “ projects , ” “ will be , ” “ should be , ” “ looking ahead , ” “ may ” or similar words , constitute “ forward-looking statements

