Southern States Sign (SOST) 10-Q 15 Nov 13 2013 Q3 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	9 Months Ended
	Sep. 30, 2013	Nov. 12, 2013
Document Information [Line Items]	'	'
Entity Registrant Name	'SOUTHERN STATES SIGN Co	'
Entity Central Index Key	'0001510130	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Smaller Reporting Company	'
Trading Symbol	'SOST	'
Entity Common Stock, Shares Outstanding	'	40,151,261
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	30-Sep-13	'
Document Fiscal Period Focus	'Q3	'
Document Fiscal Year Focus	'2013	'

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (EUR €)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
ASSETS	'	'
Cash	€ 88	€ 441
Net receivables	4,735	4,701
Related parties receivables	23,554	22,043
VAT Tax receivables	985	1,628
Other current assets	334	340
Available-for-sale assets	0	444
Total current assets	29,696	29,597
Non - Current Assets:	'	'
Net properties, plant and equipment(Including Capital Leased properties € 35,416 and € 36,361 respectively)	66,915	68,727
Goodwill	1,541	1,541
Other non-current assets(Including Related Parties receivables € 8,890 for 2013 and 2012)	10,622	10,535
Total non - current assets	79,078	80,803
Total Assets	108,774	110,400
LIABILITIES AND STOCKHOLDERS’ EQUITY	'	'
Bank overdrafts	958	2,970
Current maturities of long term loans and capital leases	13,232	11,196
Trade payables	8,186	7,774
Related parties payables	8,150	7,014
Others current liabilities	3,706	4,232
Available-for-sale liabilities	0	335
Total current Liabilities	34,232	33,521
Non - current liabilities:	'	'
Long term loans and capital leases	39,862	41,888
Shareholder's loans	2,556	626
Other non-current liabilities	60	60
Total non - current Liabilities	42,478	42,574
Stockholders' Equity	'	'
Common stocks	27	27
Additional Paid in Capital	26,509	26,059
Retained earnings/(Accumulated loss)	5,218	7,359
Equity attributable to owners of Southern States Sign Company	31,304	33,445
Non-Controlling interests in the consolidated subsidiaries	760	860
Total Stockholders' Equity	32,064	34,305
Total Liabilities and Stockholders' Equity	€ 108,774	€ 110,400

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS [Parenthetical] (EUR €)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Capital leases, Balance sheet, Assets by major class, Net	€ 35,416	€ 36,361
Related parties non-current receivables	€ 8,890	€ 8,890

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS (EUR €)	3 Months Ended		9 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Revenue from operations	€ 648	€ 970	€ 1,807	€ 3,254
Direct operating and selling, general and administrative costs	'	'	'	'
Direct operating costs	-175	109	40	576
Selling, general and administrative costs	127	-25	1,081	1
Amortization and depreciation	577	726	1,752	2,158
Total direct operating, selling, and administrative costs	529	810	2,873	2,735
Operating Profit/(Loss)	119	160	-1,066	519
Interest income	477	'	523	'
Interest expenses	525	579	1,670	1,775
Other income	0	0	0	17
Income/(Loss) from continuing operations, before income taxes	71	-419	-2,214	-1,239
Income taxes	'	38	0	113
Income/(Loss) from continuing operations, net of income taxes	71	-457	-2,214	-1,352
Net income/(loss) from operations of discontinued operations, after taxes	0	845	0	19
Net income/(loss) on disposal of discontinued operations, after taxes	0	250	-32	3,565
Net profit/(loss) from discontinued operations	0	1,094	-32	3,546
Consolidated net profit/(loss) for the period	71	638	-2,246	2,194
Less net loss/(profit) attributable to non-controlling interests in the consolidated subsidiaries	7	-121	100	44
Net profit/(loss) attributable to owners of Southern States Sign Company	€ 78	€ 517	-€ 2,146	€ 2,238
Profit/(Loss) per share of Common Stock	'	'	'	'
Loss from continuing operations (in euros per share)	€ 0	-€ 0.01	-€ 0.06	-€ 0.04
Profit/(loss) from discontinued operations (in euros per share)	€ 0	€ 0.03	€ 0	€ 0.12
Net profit/(loss) (in euros per share)	€ 0	€ 0.02	-€ 0.06	€ 0.07
Weighted-average shares outstanding:	'	'	'	'
Common Stock Basic and diluted (in shares)	40,151,261	33,101,852	40,151,261	33,101,852

STATEMENT_OF_COMPREHENSIVE_INC

STATEMENT OF COMPREHENSIVE INCOME/(LOSS) (EUR €)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Net profit/(loss) for the period	€ 78	€ 517	-€ 2,146	€ 2,238
Other comprehensive income	'	'	'	'
Foreign currency Translation differences	5	0	5	0
Total comprehensive income for the period	€ 83	€ 517	-€ 2,141	€ 2,238

CONSOLIDATED_STATEMENTS_OF_STO

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT) (EUR €)	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Noncontrolling Interest [Member]
In Thousands, except Share data
Balance at Dec. 31, 2011	€ 25,064	€ 25	€ 25,978	-€ 936	-€ 3
Balance (in shares) at Dec. 31, 2011	'	33,101,852	'	'	'
Shares issued to Consultants	15	1	14	0	0
Shares issued to Consultants (in shares)	'	200,000	'	'	'
Acquisition of Southern States Sign Company	68	1	67	0	0
Acquisition of Southern States Sign Company (in shares)	'	6,849,409	'	'	'
Change in Percentage of Controlling Interests	1,031	0	0	136	895
Net profit/(loss) for the year	8,121	0	0	8,153	-32
Foreign currency translation	6	0	0	6	0
Balance at Dec. 31, 2012	34,305	27	26,059	7,359	860
Balance (in shares) at Dec. 31, 2012	'	40,151,261	'	'	'
Net profit/(loss) for the year	-2,246	0	0	-2,146	-100
Foreign currency translation	5	0	0	5	0
Balance at Sep. 30, 2013	€ 32,064	€ 27	€ 26,059	€ 5,218	€ 760
Balance (in shares) at Sep. 30, 2013	'	40,151,261	'	'	'

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (EUR €)	9 Months Ended		12 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2012
Cash Flows from Operating Activities:	'	'	'
Net Income/(loss)	-€ 2,246	€ 2,194	€ 8,121
Net loss from operations on discontinued operations	0	19	'
Net (gain)/loss from discontinued operations	32	-3,565	'
Net Income/(loss) from continuing operations	-2,214	-1,352	'
Depreciation and amortization of non-current assets	1,752	2,158	'
Other non-cash adjustments	78	67	'
Cash flows from operations before changes in assets and liabilities	-384	873	'
Changes in assets and liabilities:	'	'	'
Change in trade receivables	-33	-1,608	'
Change in related parties receivables	-1,512	-19,211	'
Change in other receivables	-1	-243	'
Change in advance payment on purchase and other current assets	6	0	'
Change in other assets	64	96	'
Change in trade payables	456	-890	'
Change in related parties payables	1,196	4,917	'
Change in other payables	-415	973	'
Change in VAT taxes	527	1,475	'
Change in other liabilities	4	6,883	'
Net cash provided by operating activities of discontinued operations	0	-6,966	'
Net cash provided by/(used in) Operating Activities (A)	-152	-13,701	'
Cash Flows from Investing Activities:	'	'	'
Purchases of intangible assets	-1	-1	'
Proceeds from sale/(Purchases of) properties, plant and equipment	60	-3,591	'
Proceeds from sale of associates and other company	9	'	'
Other investing change	-337	-76	'
Net cash provided by investing activities of discontinued operations	0	12,823	'
Net cash provided by/(used in) investing activities (B)	-269	9,155	'
Cash Flows from Financing Activities:	'	'	'
Net (reimbursements)/borrowings from bank overdrafts	-2,012	97	'
Net proceeds from/(repayment of) issuance of long-term debt	10	231	'
Net proceeds from issuance/(repayment of) shareholders loan	2,070	6,136	'
Net cash provided by/(used in) financing activities of discontinued operations	0	2,019	'
Net cash provided by Financing Activities (C )	68	4,445	'
Net Increase/(decrease) in Cash and Cash Equivalents (A+B+C)	-354	-101	'
Cash and cash equivalents at beginning of the year	441	312	312
Cash and cash equivalents at end of the year	€ 88	€ 211	€ 441

ORGANIZATION

ORGANIZATION	9 Months Ended
	Sep. 30, 2013
Organization, Consolidation and Presentation Of Financial Statements [Abstract]	'
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	'
	NOTE 1. ORGANIZATION
	Southern States Sign Company (“SOST”) is a corporation incorporated in the state of Nevada. SOST operates through its wholly owned subsidiary, Conte Rosso & Partners S.r.l. (“CR&P,” and together with SOST, the “Company”), which is a company incorporated in Italy. Operations are carried out through its subsidiary, CR&P, and mainly consist of investments in the hospitality industry.
	On November 1, 2012, the Company entered into a share exchange agreement with CR&P, pursuant to which the shareholders of CR&P transferred all of the issued and outstanding capital stock of CR&P to SOST in exchange for 21,250,000 newly issued shares of the Company’s common stock, resulting in CR&P becoming a wholly owned subsidiary of SOST (the “Share Exchange”). The transaction was accounted for as a reverse acquisition into a publicly traded shell corporation, and accordingly, no goodwill was recorded. As a result of the Share Exchange, the historical financial statements of SOST for the periods prior to the date of the transaction are not presented.
	As of September 30, 2013, the consolidated operating subsidiaries are the following (those entities which are indented represent subsidiaries of the entity under which they are indented:
	Subsidiaries		% of voting
			capital of
			subsidiary
		%	owned by its		Principal
	Name of Company	Ownership	parent	Location	activity
	Southern States Sign Company
	A. Conte Rosso & Partners S.r.l.	100	100	Italy	Hospitality Business
	1. Aral Immobiliare S.r.l.	100	100	Italy	Hospitality Business
	2. C.R.&P. Service S.c.a.r.l.	35.75	35.75	Italy	Group’s Exclusive financial services
	3. Galzignano Terme Golf & Resort S.p.A.	100	100	Italy	Hospitality business
	4. I.B.H. Management Company, S.r.l.	100	100	Italy	Hospitality business
	a. I.B.H. Ripa S.R.L.*	90	90	Italy	Hospitality Business
	5. Masseria Santo Scalone Hotel & Resort S.r.l.	100	100	Italy	Hospitality business
	6. Primesint S.r.l.	70	70	Italy	Investment Company
	On October 10, 2013, I.B.H. Ripa S.r.l. (“I.B.H. Ripa”) was incorporated. I.B.H. Ripa is 90% owned by I.B.H. Management Company, S.r.l. and 10% owned by Aral Immobiliare S.r.l.

SUMMARY_OF_SIGNIFICANT_ACCOUNT

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2013
Accounting Policies [Abstract]	'
Significant Accounting Policies [Text Block]	'
	NOTE 2. Summary of significant accounting policies
	Basis of consolidation
	All majority-owned subsidiaries in which CR&P has both a voting share and management control are consolidated. All significant intercompany accounts and transactions are eliminated. Subsidiaries over which control is achieved through other means, such as stockholders’ agreements, are also consolidated even if less than 51% of voting capital is held. The equity attributable to non-controlling interests in subsidiaries is shown separately in the consolidated financial statements.
	Basis of presentation
	The consolidated financial statements for the nine months ended September 30, 2013, unaudited, and for the fiscal year ended 2012, audited, are prepared in accordance with generally accepted accounting principles generally accepted in the United States of America (“US GAAP”).
	The Euro is the functional currency of all companies included in these consolidated financial statements.
	The amounts presented have been rounded to the nearest thousand.
	Fair value
	We disclose the fair value of our financial assets and liabilities based on observable market information where available, or on market participant assumptions. These assumptions which are subjective in nature involve matters of judgment, and, therefore, fair values cannot always be determined with precision. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). “US GAAP” establishes a valuation hierarchy for prioritizing the inputs and the hierarchy places greater emphasis on the use of observable market inputs and less emphasis on unobservable inputs. When determining fair value, an entity is required to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of the hierarchy are as follows:
	Level One—Fair values based on unadjusted quoted prices in active markets for identical assets and liabilities;
	Level Two—Fair values based on quoted market prices for similar assets and liabilities in active markets, quoted prices in inactive markets for identical assets and liabilities, and inputs other than quoted market prices that are observable for the asset or liability;
	Level Three—Fair values based on inputs that cannot be corroborated by observable market data and reflect the use of significant management judgment. Valuation techniques could include the use of discounted cash flow models and similar techniques.
	We utilize the market approach and income approach for valuing our financial instruments. The market approach utilizes prices and information generated by market transactions involving identical or similar assets and liabilities and the income approach uses valuation techniques to convert future amounts (for example, cash flows or earnings) to a single present amount (discounted). For instances in which the inputs used to measure fair value fall into different levels of the fair value hierarchy, the fair value measurement has been determined based on the lowest level input that is significant to the fair value measurement in its entirety. Our assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the classification of fair value assets and liabilities within the fair value hierarchy.
	The carrying values of cash equivalents, accounts receivable, financing receivable – current, accounts payable and current maturities of long-term debt approximate fair value due to the short-term nature of these items and their close proximity to maturity.
	Acquisitions
	Assets acquired and liabilities assumed in business combinations are recorded on our consolidated balance sheets as of the respective acquisition dates based upon their estimated fair values at such dates.
	The results of operations of businesses acquired by us have been included in the consolidated statements of income (loss) since their respective dates of acquisition. In certain circumstances, the purchase price allocations are based upon preliminary estimates and assumptions. Accordingly, the allocations are subject to revision when we receive final information, including appraisals and other analyses. There were no contingent payments, options, or commitments specified in any of our acquisition agreements.
	Cash and cash equivalents
	Cash and cash equivalents are comprised of cash balances, cash on current accounts with banks, bank deposits and other highly liquid short-term investments with original maturities of less than three months.
	Accounts receivable & Allowance for doubtful accounts
	Accounts receivable represents trade obligations from customers that are subject to normal trade collection terms, without discounts. The Company periodically evaluates the collectability of its accounts receivable and considers the need to record or adjust an allowance for doubtful accounts based upon historical collection experience and specific customer information. Actual amounts could vary from the recorded estimates. The Company has determined that as of September 30, 2013 and December 31, 2012, € 0 is the allowance for doubtful accounts that was required. The Company does not require collateral to support customer receivables.
	Investments
	Investments in unconsolidated affiliates over which we exercise significant influence, but do not control, including joint ventures, are accounted for using the equity method.
	Investments in unconsolidated affiliates over which we are not able to exercise significant influence are accounted for under the cost method.
	Property, plant and equipment
	Property, plant and equipment are stated at acquisition cost less accumulated depreciation and adjustments for impairment losses. Property, plant and equipment also includes assets under construction and plant and equipment awaiting installation.
	Subsequent expenditures are capitalized only when they increase the future economic benefits embodied in an item of property, plant and equipment. All other expenditures are recognized as expenses in the consolidated statement of income as incurred.
	Capitalization ceases when construction is interrupted for an extended period or when the asset is substantially complete.
	Depreciation is charged on a straight-line basis over the estimated remaining useful lives of the individual assets.
	Depreciation commences from the time an asset is put into operation. Depreciation is not charged on assets to be disposed of or on land. The range of the estimated useful lives is as follows:
		-	Buildings and constructions: 33 years
		-	Machinery and equipment: 2 – 20 years
		-	Others: 5 years
	Long-Lived Assets
	We evaluate the carrying value of our long-lived assets for impairment by comparing the expected undiscounted future cash flows of the assets to the net book value of the assets when events or circumstances indicate that the carrying amount of a long-lived asset may not be recoverable. If the expected undiscounted future cash flows are less than the net book value of the assets, the excess of the net book value over the estimated fair value will be charged to earnings.
	Fair value is based upon discounted cash flows of the assets at a rate deemed reasonable for the type of asset and prevailing market conditions, appraisals, and, if appropriate, current estimated net sales proceeds from pending offers.
	We evaluate the carrying value of our long-lived assets based on our plans, at the time, for such assets and such qualitative factors as future development in the surrounding area and status of expected local competition.
	Discontinued operations
	At the end of September, 2012, we divested all of our non-hotel assets to a related party at cost as part of our strategy to focus on hotel ownership.
	The realized value of these assets is higher than the net asset carrying value.
	Goodwill and Other Intangible Assets
	We evaluate goodwill for impairment on an annual basis, and do so during the last month of each year using balances as of the end of September and at an interim date if indications of impairment exist. Goodwill impairment is determined by comparing the fair value of a reporting unit to its carrying amount in a two-step process with an impairment being recognized only where the fair value is less than carrying value. We define a reporting unit at the individual property level.
	When determining fair value in step one, we utilize internally developed discounted future cash flow models, third party appraisals and, if appropriate, current estimated net sales proceeds from pending offers. Under the discounted cash flow approach we utilize various assumptions, including projections of revenues based on assumed long-term growth rates, estimated costs and appropriate discount rates based on the weighted-average cost of capital. The principal factors used in the discounted cash flow analysis requiring judgment are the projected future operating cash flow, the weighted-average cost of capital and the terminal value growth rate assumptions. The weighted-average cost of capital takes into account the relative weights of each component of our capital structure (equity and long-term debt) and is determined at the reporting unit level. Our estimates of long-term growth and costs are based on historical data, various internal estimates and a variety of external sources, and are developed as part of our routine, long-term planning process. We then compare the estimated fair value to our carrying value.
	If the carrying value is in excess of the fair value, we must determine our implied fair value of goodwill to measure if any impairment charge is necessary. The determination of our implied fair value of goodwill requires the allocation of the reporting unit’s estimated fair value to the individual assets and liabilities of the reporting unit as if we had completed a business combination.
	We perform the allocation based on our knowledge of the reporting unit, the market in which they operate, and our overall knowledge of the hospitality industry.
	Leasing
	All lease agreements of the Company and its subsidiaries as lessees are accounted for as capital. The Company recognizes the asset and associated liability on its balance sheet. Capital is capitalized at the beginning of the lease at the lower of the fair value of the leased property and the present value of minimum lease payments. Each installment of the lease is apportioned between the liability and finance charges so as to achieve an equal reduction in capital due for each payment made at constant rate on the remaining financial balances.
	Derivative financial instruments
	The Company uses derivative financial instruments principally for the management of exposure to variable interest rates on long-term financing. All derivative financial instruments are classified as assets or liabilities and are accounted for at trade date. The Company measures all derivative financial instruments based on fair values derived from market prices of the instruments. Changes in the fair value of a derivative that is significant and that is designated and qualifies as a fair value hedge, along with the loss or gain on the hedged asset or liability, are recorded in the income statement.
	As of December 31, 2012 there are no derivative instruments. During the 2012 there was only one derivative instrument hedging the risk of variable interest rates (an “interest rate cap”), the notional amount of which was € 4 million. This derivative instrument hedges the risk from change of interest rate on a mortgage loan facility with “bullet” repayments originally of € 8 million of which € 6.6 million is outstanding. This derivative was divested as part of our plan to focus on hotels only as of September 30, 2012.
	Shareholder loans
	Shareholder loans to the Company are all non-interest bearing. Italian law provides that the shareholders loans to a corporation ("S.r.l.") are not preferred and their repayment is subordinated to other categories of debt. As a result all shareholder loans are classified as non-current liabilities.
	Severance indemnity fund
	According to Italian accounting principles reflecting local law and applicable employment contracts, certain post-employment benefits accrue during the period of employment. Under U.S. GAAP, post-employment benefits are defined either as de fined contribution plans or defined benefit plans.
	In defined contribution plans, the Company's obligation is limited to the payment of contributions to the Government or to a fund. Defined benefit plans are pension, insurance and healthcare programs which cover the Company's obligation, even implicitly, to provide the benefits due to former employees. The liabilities associated with defined benefit plans are determined on the basis of actuarial assumption (discounting) and accrued in the financial statements over the employment period required to obtain the benefits.
	The severance indemnity fund required by Italian law is a liability similar to a defined benefit plan, which, however, according to Italian accounting principles, is not subject to discounting. Given the small number of Company employee any difference between the present provisions in the financial statements prepared in accordance with Italian GAAP and discounted value of these benefits is considered to be immaterial.
	Revenue Recognition
	Our revenues are derived from rent we receive according to rental agreements we have in place with a hotel management companies. The majority of our rent is fixed and payable monthly. We recognize additional revenue that varies based on a percentage of the operating profit of our rented hotels.
	Taxes
	Income taxes
	We account for income taxes to recognize the amount of taxes payable or refundable for the current year and the amount of deferred tax assets and liabilities resulting from the future tax consequences of differences between the financial statements and tax basis of the respective assets and liabilities. We recognize the financial statement effect of a tax position when, based on the technical merits of the uncertain tax position, it is more likely than not to be sustained on a review by taxing authorities. These estimates are based on judgments made with currently available information. We review these estimates and make changes to recorded amounts of uncertain tax positions as facts and circumstances warrant.
	We are subject to income taxes under the tax laws of Italy. The Company accounts for uncertainty in income taxes in accordance with Topic 740, “Income Taxes,” of the Accounting Standards Codification (“ASC 740”). ASC 740 clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements in accordance with generally accepted accounting principles and prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in an income tax return. ASC 740 also provides guidance on recognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. During the years ended December 31, 2012 and 2011, the Company recognized no adjustments for uncertain tax positions.
	The Company recognizes interest and penalties relating to uncertain tax positions in income tax expense. There is no interest or penalties relating to tax positions during the periods ended September 30, 2013 and December 31, 2012.
The Company is also subject to examination in Italy where it has filed tax returns for the years 2009 through 2011.
Stockholder’s equity
As of September 30, 2013, the share capital of CR&P is represented by 40,151,261 outstanding shares. Mr. Antonio Conte and his wife Maddalena Olivieri contributed 82.44% of the share capital of CR&P.
As of December 31, 2012, after the Share Exchange was consummated on November 1, 2012, the share capital of CR&P was represented by 39,526,261 outstanding shares. Mr. Antonio Conte and his family contributed 87.14% of the share capital of CR&P.

RELATED_PARTIES_RECEIVABLES_AN

RELATED PARTIES RECEIVABLES AND PAYABLES	9 Months Ended
	Sep. 30, 2013
Related Parties Receivables and Payables [Abstract]	'
Related Parties Receivables and Payables [Text Block]	'
	NOTE 3. Related parties receivables and payables
	Related parties current receivables and payables relate to the former CEO and shareholder, Mr. Antonio Conte, both directly and indirectly. As of September 30, 2013, the amounts of related parties current receivables and payables mainly refers to CR&P Service, S.r.l., a subsidiary incorporated in 2012 that manages the Company’s cash facilities and cash pooling and also for other companies owned by Mr. Conte but not consolidated in CR&P (related parties). During the fiscal year 2012 and the nine months period ended September 30, 2013, the operations of CR&P Service, S.r.l. did not generate any material impact on the consolidated equity and statement of operations of CR&P. The amount shown as non-current receivables as of September 30, 2013 and December 31, 2012 relates to a receivable from Masoledo, S.r.l., owned by Mr. Conte in connection with the sale of the non-hotel business which occurred in September, 2012.

PROPERTY_PLANT_AND_EQUIPMENT

PROPERTY PLANT AND EQUIPMENT	9 Months Ended
	Sep. 30, 2013
Property, Plant and Equipment [Abstract]	'
Property, Plant and Equipment Disclosure [Text Block]	'
	NOTE 4. PROPERTY, PLANT AND EQUIPMENT
	Property, plant and equipment, included in continuing operations, comprises:
	€’000
	Property, plant and equipment	September 30, 2013		December 31, 2012
	Hotel Ripa building, plant and equipment	€	42,594	€	42,654
	Terme di Galzignano golf, building, plant and equipment		39,061		39,229
	Via Buozzi, Rome, building		3,300		3,300
	Ostuni (BR) - Hotel Masseria Santo Scalone building		5,028		5,013
	Less accumulated depreciation		-23,068		-21,469
	Total, net	€	66,915	€	68,727
	The properties owned by the Company as of September 30, 2013 have been recently tested for impairment, by committing a specialized appraisal firm, which provided updated appraisals of their fair value. The methodologies applied in those appraisals mainly consists in the market value method and the discounted future cash flows method. The appraisals show fair value amounts of each property significantly higher than the relevant carrying amount.

MAJOR_ACQUISITIONS_AND_DIVESTM

MAJOR ACQUISITIONS AND DIVESTMENTS	9 Months Ended
	Sep. 30, 2013
Major Acquisitions and Divestments [Abstract]	'
Major Acquisitions and Divestments [Text Block]	'
	NOTE 5. MAJOR ACQUISITIONS AND DIVESTMENTS
	Masseria Santo Scalone Hotel & Resort S.r.l.
	In line with the strategy to expand operations in the hospitality area, on September 29, 2012, the Company acquired 100.00% of Masseria Santo Scalone Hotel& Resort S.r.l. (“Masseria”) from a related party (Masoledo, S.r.l., owned by Mr. Conte and his family). The cost of acquisition of Masseria was €3.2 million.
	The primary asset of Masseria is a resort spa located in Ostuni, Pulia, in the south of Italy. The complex is restructuring.
	The balance sheet effects of the acquisition are summarized below:
	The purchase price allocation for the acquisition of Masseria Santo Scalone Hotel & Resort S.r.l. is as follows;
	€’000	May 29, 2012
	Current maturity of long-term debt	€	2,898
	Related parties payable		300
	Cash payments		10
	Total purchase price	€	3,208
	Allocated to:
	Property, plant and equipment	€	4,903
	Net working capital		-1.705
	Cash		10
	Total	€	3,208
	There is no goodwill recognized on the acquisition of Masseria.
	Divestment of all non-hospitality businesses
	In September 2012, the Company divested all of it non-hotel assets to a related party company controlled by the shareholders. The total assets and liabilities divested was $ 52.9 million and $ 44.7 million, respectively.
	Divestment of the property in Via Benaco, Milan, Italy
	In order to focus on the hospitality business, in April, 2013 the Company sold the property located in Via Benaco, Milan (Italy). The property has been owned under a capital lease contract, which has been transferred to the acquirer with no-cash inflow paid.
	The balance sheet effects of this disposal are summarized in the table below:
	Balance sheets effects of the divestment of the property in Via Benaco, Milan (Italy)
	€’000	April 1, 2013
	Inflow of cash and other assets	€	0
	Total assets divested, less accumulated depreciation		-439
	Total liabilities divested		407
	Recognized loss		-32
	The loss resulting from this divestment has been recognized in the consolidated statement of operations as a loss on disposal of discontinued operations.

GOODWILL

GOODWILL	9 Months Ended
	Sep. 30, 2013
Goodwill and Intangible Assets Disclosure [Abstract]	'
Goodwill and Intangible Assets Disclosure [Text Block]	'
	NOTE 6. GOODWILL
	The table below shows the breakdown of goodwill related to continuing operations:
	€’000
		Owned and	Others owned
		leased hotel	properties	Total
	Balance as of January 1, 2012
	Goodwill, net	1,149	392	1,541
	No Activity during the period
	Balance as of December 31, 2012
	Goodwill, net	1,149	392	1,541
	Balance as of January 1, 2013
	Goodwill, net	1,149	392	1,541
	No Activity during the period
	Balance as of September 30, 2013
	Goodwill, net	1.149	392	1.541
	In the nine months period ended September 30, 2013 and in the fiscal year ended December 31, 2012, the company did not have any new goodwill or any impairment on existing goodwill.

OTHER_NONCURRENT_ASSETS

OTHER NON-CURRENT ASSETS	9 Months Ended
	Sep. 30, 2013
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]	'
Other Non Current Assets [Text Block]	'
	NOTE 7. OTHER NON-CURRENT ASSETS
	The table below shown the breakdown of other non-current assets, related to continuing operations:
		September		December
	€’000	30, 2013		31, 2012
	Related parties non-current receivables	€	8,890	€	8,890
	Investment in other companies		4		13
	Accruals and deferred costs		311		375
	Other intangible assets		1,259		1,257
	Other non-current assets	€	10,464	€	10,535

BANK_OVERDRAFTS_AND_LONGTERM_D

BANK OVERDRAFTS AND LONG-TERM DEBT	9 Months Ended
	Sep. 30, 2013
Bank Overdrafts and Long Term Debt [Abstract]	'
Bank Overdrafts and Long Term Debt [Text Block]	'
	NOTE 8. BANK OVERDRAFTS AND LONG-TERM DEBT
	Amounts of financial debt due to non-related parties for continuing operations are:
	€’000
	Mortgages & Capital Leases
		September			December
		30, 2013			31, 2012
	Mortgage loan on property	€	23,940		€	23,689
	Leasing		29,154			29,394
	Total	€	53,094		€	53,083
		September			December
		30, 2013			31, 2012
	Current portion of debt	€	13,232		€	11,196
	Long term debt		39,862			41,887
	Total	€	53,094		€	53,083
	The following tables sets out the main terms and conditions and the outstanding balances as of September 30, 2013 and December 31, 2012 of the financial debts:
	Outstanding bank overdrafts
	as of September 30, 2013 and December 31, 2012
	€’000
							Outstanding		Outstanding
							balance as of		balance as
							September		of Dec. 31,
	Company	Type of debt		Object		Collateral	30, 2013		2012
	CONTE ROSSO & PARTNERS, S.R.L.	BANK OVERDRAFT		Cash facility		-	-		2,051
	TERME DI GALZIGNANO, S.r.l.	BANK OVERDRAFT		Cash facility		-	958		919
						TOTAL	958		2,970
	Outstanding non-current loans related to continuing operations
	as of September 30, 2013 and December 31, 2012
	€’000
							Outstanding.		Outstanding
							balance as of		balance as of Dec.
	Company	Type of debt		Object		Collateral	September 30, 2013		31, 2012
	CONTE ROSSO & PARTNERS, S.R.L.	CAPITAL LEASE		Building purchase		Headquarter property, via B.Buozzi, Rome, Italy	2,627		2,665
	CONTE ROSSO & PARTNERS, S.R.L.	UNSECURED LOAN		Cash facility		-	608		688
	MASSERIA SANTO SCALONE, S.r.l.	MORTGAGE LOAN		Building purchase		Hotel and land property, Santo Scalone, Ostuni (Brindisi), Italy	2,388		2,388
	MASSERIA SANTO SCALONE, S.r.l.	MORTGAGE LOAN		Building purchase		Hotel and land property, Santo Scalone, Ostuni (Brindisi), Italy	510		510
	ARAL IMMOBILIARE, S.r.l.	CAPITAL LEASE		Building purchase		Hotel property in Rome, Italy	26,527		26,729
	ARAL IMMOBILIARE, S.r.l.	MORTGAGE LOAN		Building purchase		Building, Porto Cervo (Olbia), Italy	366		438
	TERME DI GALZIGNANO, S.r.l.	MORTGAGE LOAN		Building purchase		Hotel property in Galzignano (Padova), Italy	14,535		14,361
	TERME DI GALZIGNANO, S.r.l.	MORTGAGE LOAN ("bullet" reimbursement plan)		Cash facility		Hotel property in Galzignano (Padova), Italy	5,533		5,304
						TOTAL	53,094		53,083
	The following table sets out the significant term and future payments of long-term loans:
	€’000							Installments maturity as of September 30, 2013
	Company	Type of debt		Object		Collateral	2014			2015		2016		2017		2018
	CONTE ROSSO & PARTNERS, S.R.L.	CAPITAL LEASE		Building purchase		Headquarter property, via B.Buozzi, Rome, Italy	€	137		€	107	€	112	€	117	€	122
	CONTE ROSSO & PARTNERS, S.R.L.	UNSECURED LOAN		Cash facility		-		328			280
	MASSERIA SANTO SCALONE, S.r.l.	MORTGAGE LOAN		Building purchase		Hotel and land property, Santo Scalone, Ostuni (Brindisi), Italy		783			201		207		216		225
	MASSERIA SANTO SCALONE, S.r.l.	MORTGAGE LOAN		Building purchase		Hotel and land property, Santo Scalone, Ostuni (Brindisi), Italy		510
	ARAL IMMOBILIARE, S.r.l.	MORTGAGE LOAN		Building purchase		Building, Porto Cervo (Olbia), Italy		60			61		63		65		68
	ARAL IMMOBILIARE, S.r.l.	CAPITAL LEASE		Building purchase		Hotel property in Rome, Italy		1,001			642		671		702		734
	TERME DI GALZIGNANO, S.r.l.	MORTGAGE LOAN		Building purchase		Hotel property in Galzignano (Padova), Italy		4,880			1,379		1,379		1,379		1,379
	TERME DI GALZIGNANO, S.r.l.	MORTGAGE LOAN ("bullet" reimbursement plan)		Cash facility		Hotel property in Galzignano (Padova), Italy		5,533
						TOTAL	€	13,232		€	2,670	€	2,432	€	2,479	€	2,528
	The following table sets out the amounts of the assets held and used by capital lease, related to continuing operations:
	€’000
		Asset			Asset
	Class of Property	Balances at			Balances at
		September			December
		30, 2013			31, 2012
	Building	€	42,030		€	42,030
	Less: accumulated depreciation		-6,614			-5,669
	Net balance	€	35,416		€	36,361
	The following table sets out the schedule of the undiscounted and discounted future minimum lease payments:
	€’000
Minimum lease payments (future and net present value)
Twelve months period ending September 30:
2014	€	2,400
2015		1,977
2016		1,977
2017		1,977
2018		1,977
Later years		21,469
Purchase option		11,852
Net minimum lease payments		43,630
Less: Amount representing interest		-14,475
Present value of net minimum lease payments	€	29,154
As of September 30, 2013, there are no unused credit lines.

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2013
Commitments and Contingencies Disclosure [Abstract]	'
Commitments and Contingencies Disclosure [Text Block]	'
	NOTE 9. COMMITMENTS AND CONTINGENCIES
	The Company is occasionally involved in litigation matters relating to claims arising from the ordinary course of business. The Company’s management believes that there are no claims or actions pending or threatened against the Company, the ultimate disposition of which would have a material adverse effect on our business, results of operations and financial condition.

INCOME_TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2013
Income Tax Disclosure [Abstract]	'
Income Tax Disclosure [Text Block]	'
	NOTE 10. INCOME TAXES
	Tax losses carryforwards
	Under Italian tax law the operating loss carryforwards available for offset against future profits can be used indefinitely. Operating loss carryforwards are only available for offset against national income tax, in the limit of 80% of taxable annual income (this restriction does not apply to the operating loss incurred in the first three years of the Company’s activity, which are therefore available for 100% offsetting).
	Our operating losses carried forward and available for offset against future profits as of September 30, 2013 and December 31, 2012 is € 2,865 and € 651, respectively.
	Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes.
	Components of the Company’s deferred tax asset are as follows as of September 30, 2013 and December 31, 2012:
	€’000	September 30, 2013		December 31, 2012
	Deferred tax asset – net operating loss carryovers		797		179
	Less Valuation allowance		-797		-179
	Net deferred tax asset	€	-	€	-
	The Company periodically evaluates whether it is more likely than not that it will generate sufficient taxable income to realize the deferred income tax asset. The ultimate realization of this asset is dependent upon the generation of future taxable income sufficient to offset the related deductions. At the present time, management cannot presently determine when the Company will be able to generate sufficient taxable income to realize the deferred tax asset; accordingly, a valuation allowance has been established to offset the asset.
	The reconciliation of income tax benefit attributable to continuing operations computed at the Italian statutory tax rates to the income tax benefit recorded is as follows:
		Nine months period ended September 30,
	€’000	2013		2012
	Income tax at Italian statutory rate of 27.5%	€	-618	€	603
	Increase in valuation allowance		618		-603
	Income tax benefit	€	-	€	-

SUBSEQUENT_EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2013
Subsequent Events [Abstract]	'
Subsequent Events [Text Block]	'
	NOTE 13. SUBSEQUENT EVENTS
	On October 10, 2013, I.B.H. Ripa was incorporated. I.B.H. Ripa is 90% owned by I.B.H. Management Company, S.r.l. and 10% owned by Aral Immobiliare S.r.l., each a wholly owned subsidiary of the Company. I.B.H. Ripa shall manage the business of the Ripa Hotel in Rome. Also, on October 23, 2013, Aral Immobiliare S.r.l. and Ku Hotel Srl, the former management company of the Ripa Hotel, agreed to terminate their business division agreement and their lease agreement which were last modified on March 10, 2013 (the “Termination”). The Termination shall become effective on November 14, 2013.
	Contemporaneously with the Termination, Aral Immobiliare S.r.l. and I.B.H. Ripa entered into a hotel management agreement, dated as of October 23, 2013 (the “Ripa Management Agreement”). Pursuant to the Ripa Management Agreement, I.B.H. Ripa will manage the Ripa Hotel. I.B.H. Ripa shall pay to Aral Immobiliare annual consideration of €1,680,000 plus VAT for the first year of the agreement, € 1,920,000 plus VAT for the second year of the agreement, and € 2,160,000 plus VAT for the third year and all years of the agreement thereafter. The Ripa Management Agreement shall become effective on November 14, 2013, and expire on November 13, 2022. Upon mutual consent, the parties may renew the agreement for an additional nine years.

SUMMARY_OF_SIGNIFICANT_ACCOUNT1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2013
Accounting Policies [Abstract]	'
Consolidation, Policy [Policy Text Block]	'
	Basis of consolidation
	All majority-owned subsidiaries in which CR&P has both a voting share and management control are consolidated. All significant intercompany accounts and transactions are eliminated. Subsidiaries over which control is achieved through other means, such as stockholders’ agreements, are also consolidated even if less than 51% of voting capital is held. The equity attributable to non-controlling interests in subsidiaries is shown separately in the consolidated financial statements.
Basis Of Presentation [Policy Text Block]	'
	Basis of presentation
	The consolidated financial statements for the nine months ended September 30, 2013, unaudited, and for the fiscal year ended 2012, audited, are prepared in accordance with generally accepted accounting principles generally accepted in the United States of America (“US GAAP”).
	The Euro is the functional currency of all companies included in these consolidated financial statements.
	The amounts presented have been rounded to the nearest thousand.
Fair Value Measurement, Policy [Policy Text Block]	'
	Fair value
	We disclose the fair value of our financial assets and liabilities based on observable market information where available, or on market participant assumptions. These assumptions which are subjective in nature involve matters of judgment, and, therefore, fair values cannot always be determined with precision. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). “US GAAP” establishes a valuation hierarchy for prioritizing the inputs and the hierarchy places greater emphasis on the use of observable market inputs and less emphasis on unobservable inputs. When determining fair value, an entity is required to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of the hierarchy are as follows:
	Level One—Fair values based on unadjusted quoted prices in active markets for identical assets and liabilities;
	Level Two—Fair values based on quoted market prices for similar assets and liabilities in active markets, quoted prices in inactive markets for identical assets and liabilities, and inputs other than quoted market prices that are observable for the asset or liability;
	Level Three—Fair values based on inputs that cannot be corroborated by observable market data and reflect the use of significant management judgment. Valuation techniques could include the use of discounted cash flow models and similar techniques.
	We utilize the market approach and income approach for valuing our financial instruments. The market approach utilizes prices and information generated by market transactions involving identical or similar assets and liabilities and the income approach uses valuation techniques to convert future amounts (for example, cash flows or earnings) to a single present amount (discounted). For instances in which the inputs used to measure fair value fall into different levels of the fair value hierarchy, the fair value measurement has been determined based on the lowest level input that is significant to the fair value measurement in its entirety. Our assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the classification of fair value assets and liabilities within the fair value hierarchy.
	The carrying values of cash equivalents, accounts receivable, financing receivable – current, accounts payable and current maturities of long-term debt approximate fair value due to the short-term nature of these items and their close proximity to maturity.
Business Combinations Policy [Policy Text Block]	'
	Acquisitions
	Assets acquired and liabilities assumed in business combinations are recorded on our consolidated balance sheets as of the respective acquisition dates based upon their estimated fair values at such dates.
	The results of operations of businesses acquired by us have been included in the consolidated statements of income (loss) since their respective dates of acquisition. In certain circumstances, the purchase price allocations are based upon preliminary estimates and assumptions. Accordingly, the allocations are subject to revision when we receive final information, including appraisals and other analyses. There were no contingent payments, options, or commitments specified in any of our acquisition agreements.
Cash and Cash Equivalents, Policy [Policy Text Block]	'
	Cash and cash equivalents
	Cash and cash equivalents are comprised of cash balances, cash on current accounts with banks, bank deposits and other highly liquid short-term investments with original maturities of less than three months.
Trade and Other Accounts Receivable, Policy [Policy Text Block]	'
	Accounts receivable & Allowance for doubtful accounts
	Accounts receivable represents trade obligations from customers that are subject to normal trade collection terms, without discounts. The Company periodically evaluates the collectability of its accounts receivable and considers the need to record or adjust an allowance for doubtful accounts based upon historical collection experience and specific customer information. Actual amounts could vary from the recorded estimates. The Company has determined that as of September 30, 2013 and December 31, 2012, € 0 is the allowance for doubtful accounts that was required. The Company does not require collateral to support customer receivables.
Investment, Policy [Policy Text Block]	'
	Investments
	Investments in unconsolidated affiliates over which we exercise significant influence, but do not control, including joint ventures, are accounted for using the equity method.
	Investments in unconsolidated affiliates over which we are not able to exercise significant influence are accounted for under the cost method.
Property, Plant and Equipment, Policy [Policy Text Block]	'
	Property, plant and equipment
	Property, plant and equipment are stated at acquisition cost less accumulated depreciation and adjustments for impairment losses. Property, plant and equipment also includes assets under construction and plant and equipment awaiting installation.
	Subsequent expenditures are capitalized only when they increase the future economic benefits embodied in an item of property, plant and equipment. All other expenditures are recognized as expenses in the consolidated statement of income as incurred.
	Capitalization ceases when construction is interrupted for an extended period or when the asset is substantially complete.
	Depreciation is charged on a straight-line basis over the estimated remaining useful lives of the individual assets.
	Depreciation commences from the time an asset is put into operation. Depreciation is not charged on assets to be disposed of or on land. The range of the estimated useful lives is as follows:
		-	Buildings and constructions: 33 years
		-	Machinery and equipment: 2 – 20 years
		-	Others: 5 years
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]	'
	Long-Lived Assets
	We evaluate the carrying value of our long-lived assets for impairment by comparing the expected undiscounted future cash flows of the assets to the net book value of the assets when events or circumstances indicate that the carrying amount of a long-lived asset may not be recoverable. If the expected undiscounted future cash flows are less than the net book value of the assets, the excess of the net book value over the estimated fair value will be charged to earnings.
	Fair value is based upon discounted cash flows of the assets at a rate deemed reasonable for the type of asset and prevailing market conditions, appraisals, and, if appropriate, current estimated net sales proceeds from pending offers.
	We evaluate the carrying value of our long-lived assets based on our plans, at the time, for such assets and such qualitative factors as future development in the surrounding area and status of expected local competition.
Discontinued Operations, Policy [Policy Text Block]	'
	Discontinued operations
	At the end of September, 2012, we divested all of our non-hotel assets to a related party at cost as part of our strategy to focus on hotel ownership.
	The realized value of these assets is higher than the net asset carrying value.
Goodwill and Intangible Assets, Policy [Policy Text Block]	'
	Goodwill and Other Intangible Assets
	We evaluate goodwill for impairment on an annual basis, and do so during the last month of each year using balances as of the end of September and at an interim date if indications of impairment exist. Goodwill impairment is determined by comparing the fair value of a reporting unit to its carrying amount in a two-step process with an impairment being recognized only where the fair value is less than carrying value. We define a reporting unit at the individual property level.
	When determining fair value in step one, we utilize internally developed discounted future cash flow models, third party appraisals and, if appropriate, current estimated net sales proceeds from pending offers. Under the discounted cash flow approach we utilize various assumptions, including projections of revenues based on assumed long-term growth rates, estimated costs and appropriate discount rates based on the weighted-average cost of capital. The principal factors used in the discounted cash flow analysis requiring judgment are the projected future operating cash flow, the weighted-average cost of capital and the terminal value growth rate assumptions. The weighted-average cost of capital takes into account the relative weights of each component of our capital structure (equity and long-term debt) and is determined at the reporting unit level. Our estimates of long-term growth and costs are based on historical data, various internal estimates and a variety of external sources, and are developed as part of our routine, long-term planning process. We then compare the estimated fair value to our carrying value.
	If the carrying value is in excess of the fair value, we must determine our implied fair value of goodwill to measure if any impairment charge is necessary. The determination of our implied fair value of goodwill requires the allocation of the reporting unit’s estimated fair value to the individual assets and liabilities of the reporting unit as if we had completed a business combination.
	We perform the allocation based on our knowledge of the reporting unit, the market in which they operate, and our overall knowledge of the hospitality industry.
Lease, Policy [Policy Text Block]	'
	Leasing
	All lease agreements of the Company and its subsidiaries as lessees are accounted for as capital. The Company recognizes the asset and associated liability on its balance sheet. Capital is capitalized at the beginning of the lease at the lower of the fair value of the leased property and the present value of minimum lease payments. Each installment of the lease is apportioned between the liability and finance charges so as to achieve an equal reduction in capital due for each payment made at constant rate on the remaining financial balances.
Derivatives, Policy [Policy Text Block]	'
	Derivative financial instruments
	The Company uses derivative financial instruments principally for the management of exposure to variable interest rates on long-term financing. All derivative financial instruments are classified as assets or liabilities and are accounted for at trade date. The Company measures all derivative financial instruments based on fair values derived from market prices of the instruments. Changes in the fair value of a derivative that is significant and that is designated and qualifies as a fair value hedge, along with the loss or gain on the hedged asset or liability, are recorded in the income statement.
	As of December 31, 2012 there are no derivative instruments. During the 2012 there was only one derivative instrument hedging the risk of variable interest rates (an “interest rate cap”), the notional amount of which was € 4 million. This derivative instrument hedges the risk from change of interest rate on a mortgage loan facility with “bullet” repayments originally of € 8 million of which € 6.6 million is outstanding. This derivative was divested as part of our plan to focus on hotels only as of September 30, 2012.
Shareholders Loans [Policy Text Block]	'
	Shareholder loans
	Shareholder loans to the Company are all non-interest bearing. Italian law provides that the shareholders loans to a corporation ("S.r.l.") are not preferred and their repayment is subordinated to other categories of debt. As a result all shareholder loans are classified as non-current liabilities.
Postemployment Benefit Plans, Policy [Policy Text Block]	'
	Severance indemnity fund
	According to Italian accounting principles reflecting local law and applicable employment contracts, certain post-employment benefits accrue during the period of employment. Under U.S. GAAP, post-employment benefits are defined either as de fined contribution plans or defined benefit plans.
	In defined contribution plans, the Company's obligation is limited to the payment of contributions to the Government or to a fund. Defined benefit plans are pension, insurance and healthcare programs which cover the Company's obligation, even implicitly, to provide the benefits due to former employees. The liabilities associated with defined benefit plans are determined on the basis of actuarial assumption (discounting) and accrued in the financial statements over the employment period required to obtain the benefits.
	The severance indemnity fund required by Italian law is a liability similar to a defined benefit plan, which, however, according to Italian accounting principles, is not subject to discounting. Given the small number of Company employee any difference between the present provisions in the financial statements prepared in accordance with Italian GAAP and discounted value of these benefits is considered to be immaterial.
Revenue Recognition, Policy [Policy Text Block]	'
	Revenue Recognition
	Our revenues are derived from rent we receive according to rental agreements we have in place with a hotel management companies. The majority of our rent is fixed and payable monthly. We recognize additional revenue that varies based on a percentage of the operating profit of our rented hotels.
Income Tax, Policy [Policy Text Block]	'
	Taxes
	Income taxes
	We account for income taxes to recognize the amount of taxes payable or refundable for the current year and the amount of deferred tax assets and liabilities resulting from the future tax consequences of differences between the financial statements and tax basis of the respective assets and liabilities. We recognize the financial statement effect of a tax position when, based on the technical merits of the uncertain tax position, it is more likely than not to be sustained on a review by taxing authorities. These estimates are based on judgments made with currently available information. We review these estimates and make changes to recorded amounts of uncertain tax positions as facts and circumstances warrant.
	We are subject to income taxes under the tax laws of Italy. The Company accounts for uncertainty in income taxes in accordance with Topic 740, “Income Taxes,” of the Accounting Standards Codification (“ASC 740”). ASC 740 clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements in accordance with generally accepted accounting principles and prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in an income tax return. ASC 740 also provides guidance on recognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. During the years ended December 31, 2012 and 2011, the Company recognized no adjustments for uncertain tax positions.
	The Company recognizes interest and penalties relating to uncertain tax positions in income tax expense. There is no interest or penalties relating to tax positions during the periods ended September 30, 2013 and December 31, 2012.
	The Company is also subject to examination in Italy where it has filed tax returns for the years 2009 through 2011.
Stockholders' Equity, Policy [Policy Text Block]	'
	Stockholder’s equity
	As of September 30, 2013, the share capital of CR&P is represented by 40,151,261 outstanding shares. Mr. Antonio Conte and his wife Maddalena Olivieri contributed 82.44% of the share capital of CR&P.
	As of December 31, 2012, after the Share Exchange was consummated on November 1, 2012, the share capital of CR&P was represented by 39,526,261 outstanding shares. Mr. Antonio Conte and his family contributed 87.14% of the share capital of CR&P.

ORGANIZATION_Tables

ORGANIZATION (Tables)	9 Months Ended
	Sep. 30, 2013
Organization, Consolidation and Presentation Of Financial Statements [Abstract]	'
Schedule of Investments in and Advances to Affiliates, Schedule of Investments [Table Text Block]	'
	As of September 30, 2013, the consolidated operating subsidiaries are the following (those entities which are indented represent subsidiaries of the entity under which they are indented:
	Subsidiaries		% of voting
			capital of
			subsidiary
		%	owned by its		Principal
	Name of Company	Ownership	parent	Location	activity
	Southern States Sign Company
	A. Conte Rosso & Partners S.r.l.	100	100	Italy	Hospitality Business
	1. Aral Immobiliare S.r.l.	100	100	Italy	Hospitality Business
	2. C.R.&P. Service S.c.a.r.l.	35.75	35.75	Italy	Group’s Exclusive financial services
	3. Galzignano Terme Golf & Resort S.p.A.	100	100	Italy	Hospitality business
	4. I.B.H. Management Company, S.r.l.	100	100	Italy	Hospitality business
	a. I.B.H. Ripa S.R.L.*	90	90	Italy	Hospitality Business
	5. Masseria Santo Scalone Hotel & Resort S.r.l.	100	100	Italy	Hospitality business
	6. Primesint S.r.l.	70	70	Italy	Investment Company
	On October 10, 2013, I.B.H. Ripa S.r.l. (“I.B.H. Ripa”) was incorporated. I.B.H. Ripa is 90% owned by I.B.H. Management Company, S.r.l. and 10% owned by Aral Immobiliare S.r.l.

PROPERTY_PLANT_AND_EQUIPMENT_T

PROPERTY, PLANT AND EQUIPMENT (Tables)	9 Months Ended
	Sep. 30, 2013
Property, Plant and Equipment [Abstract]	'
Property, Plant and Equipment [Table Text Block]	'
	Property, plant and equipment, included in continuing operations, comprises:
	€’000
	Property, plant and equipment	September 30, 2013		December 31, 2012
	Hotel Ripa building, plant and equipment	€	42,594	€	42,654
	Terme di Galzignano golf, building, plant and equipment		39,061		39,229
	Via Buozzi, Rome, building		3,300		3,300
	Ostuni (BR) - Hotel Masseria Santo Scalone building		5,028		5,013
	Less accumulated depreciation		-23,068		-21,469
	Total, net	€	66,915	€	68,727

MAJOR_ACQUISITIONS_AND_DIVESTM1

MAJOR ACQUISITIONS AND DIVESTMENTS (Tables)	9 Months Ended
	Sep. 30, 2013
Major Acquisitions and Divestments [Abstract]	'
Schedule Of Purchase Price Allocations [Table Text Block]	'
	The purchase price allocation for the acquisition of Masseria Santo Scalone Hotel & Resort S.r.l. is as follows;
	€’000	May 29, 2012
	Current maturity of long-term debt	€	2,898
	Related parties payable		300
	Cash payments		10
	Total purchase price	€	3,208
	Allocated to:
	Property, plant and equipment	€	4,903
	Net working capital		-1.705
	Cash		10
	Total	€	3,208
Schedule of Divestment Of Property [Table Text Block]	'
	Balance sheets effects of the divestment of the property in Via Benaco, Milan (Italy)
	€’000	April 1, 2013
	Inflow of cash and other assets	€	0
	Total assets divested, less accumulated depreciation		-439
	Total liabilities divested		407
	Recognized loss		-32

GOODWILL_Tables

GOODWILL (Tables)	9 Months Ended
	Sep. 30, 2013
Goodwill and Intangible Assets Disclosure [Abstract]	'
Schedule of Intangible Assets and Goodwill [Table Text Block]	'
	The table below shows the breakdown of goodwill related to continuing operations:
	€’000
		Owned and	Others owned
		leased hotel	properties	Total
	Balance as of January 1, 2012
	Goodwill, net	1,149	392	1,541
	No Activity during the period
	Balance as of December 31, 2012
	Goodwill, net	1,149	392	1,541
	Balance as of January 1, 2013
	Goodwill, net	1,149	392	1,541
	No Activity during the period
	Balance as of September 30, 2013
	Goodwill, net	1.149	392	1.541

OTHER_NONCURRENT_ASSETS_Tables

OTHER NON-CURRENT ASSETS (Tables)	9 Months Ended
	Sep. 30, 2013
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]	'
Schedule of Other Assets [Table Text Block]	'
	The table below shown the breakdown of other non-current assets, related to continuing operations:
		September		December
	€’000	30, 2013		31, 2012
	Related parties non-current receivables	€	8,890	€	8,890
	Investment in other companies		4		13
	Accruals and deferred costs		311		375
	Other intangible assets		1,259		1,257
	Other non-current assets	€	10,464	€	10,535

BANK_OVERDRAFTS_AND_LONGTERM_D1

BANK OVERDRAFTS AND LONG-TERM DEBT (Tables)	9 Months Ended
	Sep. 30, 2013
Bank Overdrafts and Long Term Debt [Abstract]	'
Schedule of Debt [Table Text Block]	'
	Amounts of financial debt due to non-related parties for continuing operations are:
	€’000
	Mortgages & Capital Leases
		September			December
		30, 2013			31, 2012
	Mortgage loan on property	€	23,940		€	23,689
	Leasing		29,154			29,394
	Total	€	53,094		€	53,083
		September			December
		30, 2013			31, 2012
	Current portion of debt	€	13,232		€	11,196
	Long term debt		39,862			41,887
	Total	€	53,094		€	53,083
Schedule of Short-term Debt [Table Text Block]	'
	The following tables sets out the main terms and conditions and the outstanding balances as of September 30, 2013 and December 31, 2012 of the financial debts:
	Outstanding bank overdrafts
	as of September 30, 2013 and December 31, 2012
	€’000
							Outstanding		Outstanding
							balance as of		balance as
							September		of Dec. 31,
	Company	Type of debt		Object		Collateral	30, 2013		2012
	CONTE ROSSO & PARTNERS, S.R.L.	BANK OVERDRAFT		Cash facility		-	-		2,051
	TERME DI GALZIGNANO, S.r.l.	BANK OVERDRAFT		Cash facility		-	958		919
						TOTAL	958		2,970
Schedule of Long-term Debt Instruments [Table Text Block]	'
	Outstanding non-current loans related to continuing operations
	as of September 30, 2013 and December 31, 2012
	€’000
							Outstanding.		Outstanding
							balance as of		balance as of Dec.
	Company	Type of debt		Object		Collateral	September 30, 2013		31, 2012
	CONTE ROSSO & PARTNERS, S.R.L.	CAPITAL LEASE		Building purchase		Headquarter property, via B.Buozzi, Rome, Italy	2,627		2,665
	CONTE ROSSO & PARTNERS, S.R.L.	UNSECURED LOAN		Cash facility		-	608		688
	MASSERIA SANTO SCALONE, S.r.l.	MORTGAGE LOAN		Building purchase		Hotel and land property, Santo Scalone, Ostuni (Brindisi), Italy	2,388		2,388
	MASSERIA SANTO SCALONE, S.r.l.	MORTGAGE LOAN		Building purchase		Hotel and land property, Santo Scalone, Ostuni (Brindisi), Italy	510		510
	ARAL IMMOBILIARE, S.r.l.	CAPITAL LEASE		Building purchase		Hotel property in Rome, Italy	26,527		26,729
	ARAL IMMOBILIARE, S.r.l.	MORTGAGE LOAN		Building purchase		Building, Porto Cervo (Olbia), Italy	366		438
	TERME DI GALZIGNANO, S.r.l.	MORTGAGE LOAN		Building purchase		Hotel property in Galzignano (Padova), Italy	14,535		14,361
	TERME DI GALZIGNANO, S.r.l.	MORTGAGE LOAN ("bullet" reimbursement plan)		Cash facility		Hotel property in Galzignano (Padova), Italy	5,533		5,304
						TOTAL	53,094		53,083
Schedule of Maturities of Long-term Debt [Table Text Block]	'
	The following table sets out the significant term and future payments of long-term loans:
	€’000							Installments maturity as of September 30, 2013
	Company	Type of debt		Object		Collateral	2014			2015		2016		2017		2018
	CONTE ROSSO & PARTNERS, S.R.L.	CAPITAL LEASE		Building purchase		Headquarter property, via B.Buozzi, Rome, Italy	€	137		€	107	€	112	€	117	€	122
	CONTE ROSSO & PARTNERS, S.R.L.	UNSECURED LOAN		Cash facility		-		328			280
	MASSERIA SANTO SCALONE, S.r.l.	MORTGAGE LOAN		Building purchase		Hotel and land property, Santo Scalone, Ostuni (Brindisi), Italy		783			201		207		216		225
	MASSERIA SANTO SCALONE, S.r.l.	MORTGAGE LOAN		Building purchase		Hotel and land property, Santo Scalone, Ostuni (Brindisi), Italy		510
	ARAL IMMOBILIARE, S.r.l.	MORTGAGE LOAN		Building purchase		Building, Porto Cervo (Olbia), Italy		60			61		63		65		68
	ARAL IMMOBILIARE, S.r.l.	CAPITAL LEASE		Building purchase		Hotel property in Rome, Italy		1,001			642		671		702		734
	TERME DI GALZIGNANO, S.r.l.	MORTGAGE LOAN		Building purchase		Hotel property in Galzignano (Padova), Italy		4,880			1,379		1,379		1,379		1,379
	TERME DI GALZIGNANO, S.r.l.	MORTGAGE LOAN ("bullet" reimbursement plan)		Cash facility		Hotel property in Galzignano (Padova), Italy		5,533
						TOTAL	€	13,232		€	2,670	€	2,432	€	2,479	€	2,528
Schedule of Capital Leased Assets [Table Text Block]	'
	The following table sets out the amounts of the assets held and used by capital lease, related to continuing operations:
	€’000
		Asset			Asset
	Class of Property	Balances at			Balances at
		September			December
		30, 2013			31, 2012
	Building	€	42,030		€	42,030
	Less: accumulated depreciation		-6,614			-5,669
	Net balance	€	35,416		€	36,361
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block]	'
	The following table sets out the schedule of the undiscounted and discounted future minimum lease payments:
	€’000
	Minimum lease payments (future and net present value)
	Twelve months period ending September 30:
	2014	€	2,400
	2015		1,977
	2016		1,977
	2017		1,977
	2018		1,977
	Later years		21,469
	Purchase option		11,852
	Net minimum lease payments		43,630
	Less: Amount representing interest		-14,475
	Present value of net minimum lease payments	€	29,154

INCOME_TAXES_Tables

INCOME TAXES (Tables)	9 Months Ended
	Sep. 30, 2013
Income Tax Disclosure [Abstract]	'
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	'
	Components of the Company’s deferred tax asset are as follows as of September 30, 2013 and December 31, 2012:
	€’000	September 30, 2013		December 31, 2012
	Deferred tax asset – net operating loss carryovers		797		179
	Less Valuation allowance		-797		-179
	Net deferred tax asset	€	-	€	-
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	'
	The reconciliation of income tax benefit attributable to continuing operations computed at the Italian statutory tax rates to the income tax benefit recorded is as follows:
		Nine months period ended September 30,
	€’000	2013		2012
	Income tax at Italian statutory rate of 27.5%	€	-618	€	603
	Increase in valuation allowance		618		-603
	Income tax benefit	€	-	€	-

ORGANIZATION_Details

ORGANIZATION (Details)	9 Months Ended
	Sep. 30, 2013		Oct. 10, 2013
Conte Rosso Partners S.r.l. [Member]	'		'
% Ownership	100.00%		'
% of voting capital of subsidiary owned by its parent	100.00%		'
Location	'Italy		'
Principal activity	'Hospitality Business		'
Aral Immobiliare S.r.l. [Member]	'		'
% Ownership	100.00%		'
% of voting capital of subsidiary owned by its parent	100.00%		10.00%
Location	'Italy		'
Principal activity	'Hospitality Business		'
C.R.&P. Service S.c.a.r.l. [Member]	'		'
% Ownership	35.75%		'
% of voting capital of subsidiary owned by its parent	35.75%		'
Location	'Italy		'
Principal activity	'Group’s Exclusive financial services		'
Galzignano Terme Golf & Resort S.p.A. [Member]	'		'
% Ownership	100.00%		'
% of voting capital of subsidiary owned by its parent	100.00%		'
Location	'Italy		'
Principal activity	'Hospitality business		'
I.B.H. Management Company, S.r.l. [Member]	'		'
% Ownership	100.00%		'
% of voting capital of subsidiary owned by its parent	100.00%		90.00%
Location	'Italy		'
Principal activity	'Hospitality business		'
I.B.H. Ripa S.R.L [Member]	'		'
% Ownership	90.00%	[1]	'
% of voting capital of subsidiary owned by its parent	90.00%	[1]	'
Location	'Italy	[1]	'
Principal activity	'Hospitality Business	[1]	'
Masseria Santo Scalone Hotel & Resort S.r.l. [Member]	'		'
% Ownership	100.00%		'
% of voting capital of subsidiary owned by its parent	100.00%		'
Location	'Italy		'
Principal activity	'Hospitality business		'
Primesint S.r.l. [Member]	'		'
% Ownership	70.00%		'
% of voting capital of subsidiary owned by its parent	70.00%		'
Location	'Italy		'
Principal activity	'Investment Company		'
[1]	On October 10, 2013, I.B.H. Ripa S.r.l. (“I.B.H. Ripa”) was incorporated. I.B.H. Ripa is 90% owned by I.B.H. Management Company, S.r.l. and 10% owned by Aral Immobiliare S.r.l.

ORGANIZATION_Details_Textual

ORGANIZATION (Details Textual)	1 Months Ended
	Nov. 30, 2012	Sep. 30, 2013		Oct. 10, 2013	Sep. 30, 2013	Oct. 10, 2013	Oct. 10, 2013	Sep. 30, 2013	Oct. 10, 2013
		I.B.H. Ripa S.R.L [Member]		I.B.H. Management Company, S.r.l. [Member]	I.B.H. Management Company, S.r.l. [Member]	I.B.H. Management Company, S.r.l. [Member]	AralImmobiliareS.r.l. [Member]	AralImmobiliareS.r.l. [Member]	AralImmobiliareS.r.l. [Member]
						Subsequent Event [Member]			Subsequent Event [Member]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares	21,250,000	'		'	'	'	'	'	'
Business Acquisition, Percentage Of Voting Interests Acquired	'	90.00%	[1]	90.00%	100.00%	90.00%	10.00%	100.00%	10.00%
[1]	On October 10, 2013, I.B.H. Ripa S.r.l. (“I.B.H. Ripa”) was incorporated. I.B.H. Ripa is 90% owned by I.B.H. Management Company, S.r.l. and 10% owned by Aral Immobiliare S.r.l.

SUMMARY_OF_SIGNIFICANT_ACCOUNT2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Textual) (EUR €)	9 Months Ended
	Sep. 30, 2013	Dec. 31, 2012
Basis Of Consolidation	'All majority-owned subsidiaries in which CR&P has both a voting share and management control are consolidated. All significant intercompany accounts and transactions are eliminated. Subsidiaries over which control is achieved through other means, such as stockholders’ agreements, are also consolidated even if less than 51% of voting capital is held.	'
Share Capital Fully Paid Amount	€ 40,151,261	'
Allowance For Doubtful Accounts Receivable	0	0
Derivative Asset, Notional Amount	'	4,000,000
Shares, Outstanding	'	39,526,261
Mortgage Loans on Real Estate, Carrying Amount of Mortgages	'	6,600,000
Mortgage Loans Original Repayments Due	'	€ 8,000,000
Ownership Percentage After Reverse Merger	82.44%	87.14%
Buildings and constructions [Member]	'	'
Property, Plant and Equipment, Useful Life	'33 years	'
Machinery and equipment [Member] | Minimum [Member]	'	'
Property, Plant and Equipment, Useful Life	'2 years	'
Machinery and equipment [Member] | Maximum [Member]	'	'
Property, Plant and Equipment, Useful Life	'20 years	'
Others [Member]	'	'
Property, Plant and Equipment, Useful Life	'5 years	'

PROPERTY_PLANT_AND_EQUIPMENT_D

PROPERTY, PLANT AND EQUIPMENT (Details) (EUR €)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Less accumulated depreciation	-€ 23,068	-€ 21,469
Total, net	66,915	68,727
Hotel Ripa building [Member]	'	'
Property, Plant and Equipment, Gross	42,594	42,654
Terme di Galzignano golf [Member]	'	'
Property, Plant and Equipment, Gross	39,061	39,229
Via Buozzi, Rome, building [Member]	'	'
Property, Plant and Equipment, Gross	3,300	3,300
Ostuni (BR) - Hotel Masseria Santo Scalone [Member]	'	'
Property, Plant and Equipment, Gross	€ 5,028	€ 5,013

MAJOR_ACQUISITIONS_AND_DIVESTM2

MAJOR ACQUISITIONS AND DIVESTMENTS (Details) (EUR €)	1 Months Ended
	29-May-12
Allocated to:	'
Property, plant and equipment	€ 4,903
Net working capital	-1.705
Cash	10
Masseria Santo Scalone Hotel & Resort S.r.l. [Member]	'
Current maturity of long-term debt	2,898
Related parties payable	300
Cash payments	10,000
Total	€ 3,208

MAJOR_ACQUISITIONS_AND_DIVESTM3

MAJOR ACQUISITIONS AND DIVESTMENTS (Details 1) (EUR €)	1 Months Ended
In Thousands, unless otherwise specified	Apr. 30, 2013
Inflow of cash and other assets	€ 0
Total assets divested, less accumulated depreciation	-439
Total liabilities divested	407
Recognized loss	-€ 32

MAJOR_ACQUISITIONS_AND_DIVESTM4

MAJOR ACQUISITIONS AND DIVESTMENTS (Details Textual) (USD $)	Sep. 30, 2012	Sep. 29, 2012
		Masseria Santo Scalone Hotel Resort S R L [Member]
Business Acquisition, Percentage of Voting Interests Acquired	'	100.00%
Divestiture Of Assets In Related Party Company	$52.90	'
Divestiture Of Liabilities In Related Party Company	$44.70	'

GOODWILL_Details

GOODWILL (Details) (EUR €)	Sep. 30, 2013	Dec. 31, 2012	Dec. 31, 2011
Begining Goodwill, net	€ 1,541	€ 1,541,000	€ 1,541,000
Ending Goodwill, net	1,541	1,541,000	1,541,000
Owned and leased hotel [Member]	'	'	'
Begining Goodwill, net	1,149	1,149,000	1,149,000
Ending Goodwill, net	1,149	1,149,000	1,149,000
Others owned Properties [Member]	'	'	'
Begining Goodwill, net	392,000	392,000	392,000
Ending Goodwill, net	€ 392,000	€ 392,000	€ 392,000

OTHER_NONCURRENT_ASSETS_Detail

OTHER NON-CURRENT ASSETS (Details) (EUR €)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Related parties non-current receivables	€ 8,890	€ 8,890
Investment in other companies	4	13
Accruals and deferred costs	311	375
Other intangible assets	1,259	1,257
Other non-current assets	€ 10,622	€ 10,535

BANK_OVERDRAFTS_AND_LONGTERM_D2

BANK OVERDRAFTS AND LONG-TERM DEBT (Details) (EUR €)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Mortgage loan on property	€ 23,940	€ 23,689
Leasing	29,154	29,394
Total	53,094	53,083
Current portion of debt	13,232	11,196
Long term debt	39,862	41,887
Total	€ 53,094	€ 53,083

BANK_OVERDRAFTS_AND_LONGTERM_D3

BANK OVERDRAFTS AND LONG-TERM DEBT (Details 1) (EUR €)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Debt Instrument, Collateral	'TOTAL	'
Bank overdrafts	€ 958	€ 2,970
CONTE ROSSO & PARTNERS, S.R.L. [Member] | BANK OVERDRAFT [Member]	'	'
Debt Instrument Object	'Cash facility	'
Debt Instrument, Collateral	'-	'
Bank overdrafts	0	2,051
TERME DI GALZIGNANO, S.r.l. [Member] | BANK OVERDRAFT [Member]	'	'
Debt Instrument Object	'Cash facility	'
Debt Instrument, Collateral	'-	'
Bank overdrafts	€ 958	€ 919

BANK_OVERDRAFTS_AND_LONGTERM_D4

BANK OVERDRAFTS AND LONG-TERM DEBT (Details 2) (EUR €)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Mortgage loan on property	€ 23,940	€ 23,689
Debt Instrument, Collateral	'TOTAL	'
CONTE ROSSO & PARTNERS, S.R.L. [Member] | UNSECURED LOAN [Member]	'	'
Unsecured Long-term Debt, Noncurrent	608	688
Debt Instrument Object	'Cash facility	'
Debt Instrument, Collateral	'-	'
CONTE ROSSO & PARTNERS, S.R.L. [Member] | CAPITAL LEASE [Member]	'	'
Capital Lease Obligations, Noncurrent	2,627	2,665
Debt Instrument Object	'Building purchase	'
Debt Instrument, Collateral	'Headquarter property, via B.Buozzi, Rome, Italy	'
Aral Immobiliare S.r.l. [Member] | CAPITAL LEASE [Member]	'	'
Debt and Capital Lease Obligations	26,527	26,729
Debt Instrument Object	'Building purchase	'
Debt Instrument, Collateral	'Hotel property in Rome, Italy	'
Aral Immobiliare S.r.l. [Member] | MORTGAGE LOAN [Member]	'	'
Mortgage loan on property	366	438
Debt Instrument Object	'Building purchase	'
Debt Instrument, Collateral	'Building, Porto Cervo (Olbia), Italy	'
MASSERIA SANTO SCALONE, S.r.l. [Member] | MORTGAGE LOAN [Member]	'	'
Mortgage loan on property	2,388	2,388
Debt Instrument Object	'Building purchase	'
Debt Instrument, Collateral	'Hotel and land property, Santo Scalone, Ostuni (Brindisi), Italy	'
MASSERIA SANTO SCALONE, S.r.l. [Member] | MORTGAGE LOAN 2 [Member]	'	'
Mortgage loan on property	510	510
Debt Instrument Object	'Building purchase	'
Debt Instrument, Collateral	'Hotel and land property, Santo Scalone, Ostuni (Brindisi), Italy	'
TERME DI GALZIGNANO, S.r.l. [Member] | MORTGAGE LOAN [Member]	'	'
Mortgage loan on property	14,535	14,361
Debt Instrument Object	'Building purchase	'
Debt Instrument, Collateral	'Hotel property in Galzignano (Padova), Italy	'
TERME DI GALZIGNANO, S.r.l. [Member] | MORTGAGE LOAN 2 [Member]	'	'
Mortgage loan on property	€ 5,533	€ 5,304
Debt Instrument Object	'Cash facility	'
Debt Instrument, Collateral	'Hotel property in Galzignano (Padova), Italy	'

BANK_OVERDRAFTS_AND_LONGTERM_D5

BANK OVERDRAFTS AND LONG-TERM DEBT (Details 3) (EUR €)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013
Debt Instrument, Collateral	'TOTAL
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months	€ 13,232
Long-term Debt, Maturities, Repayments of Principal in Year Two	2,670
Long-term Debt, Maturities, Repayments of Principal in Year Three	2,432
Long-term Debt, Maturities, Repayments of Principal in Year Four	2,479
Long-term Debt, Maturities, Repayments of Principal in Year Five	2,528
CONTE ROSSO & PARTNERS, S.R.L. [Member] | CAPITAL LEASE [Member]	'
Debt Instrument Object	'Building purchase
Debt Instrument, Collateral	'Headquarter property, via B.Buozzi, Rome, Italy
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months	137
Long-term Debt, Maturities, Repayments of Principal in Year Two	107
Long-term Debt, Maturities, Repayments of Principal in Year Three	112
Long-term Debt, Maturities, Repayments of Principal in Year Four	117
Long-term Debt, Maturities, Repayments of Principal in Year Five	122
CONTE ROSSO & PARTNERS, S.R.L. [Member] | UNSECURED LOAN [Member]	'
Debt Instrument Object	'Cash facility
Debt Instrument, Collateral	'-
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months	328
Long-term Debt, Maturities, Repayments of Principal in Year Two	280
MASSERIA SANTO SCALONE, S.r.l. [Member] | MORTGAGE LOAN [Member]	'
Debt Instrument Object	'Building purchase
Debt Instrument, Collateral	'Hotel and land property, Santo Scalone, Ostuni (Brindisi), Italy
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months	783
Long-term Debt, Maturities, Repayments of Principal in Year Two	201
Long-term Debt, Maturities, Repayments of Principal in Year Three	207
Long-term Debt, Maturities, Repayments of Principal in Year Four	216
Long-term Debt, Maturities, Repayments of Principal in Year Five	225
MASSERIA SANTO SCALONE, S.r.l. [Member] | MORTGAGE LOAN 2 [Member]	'
Debt Instrument Object	'Building purchase
Debt Instrument, Collateral	'Hotel and land property, Santo Scalone, Ostuni (Brindisi), Italy
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months	510
TERME DI GALZIGNANO, S.r.l. [Member] | MORTGAGE LOAN [Member]	'
Debt Instrument Object	'Building purchase
Debt Instrument, Collateral	'Hotel property in Galzignano (Padova), Italy
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months	4,880
Long-term Debt, Maturities, Repayments of Principal in Year Two	1,379
Long-term Debt, Maturities, Repayments of Principal in Year Three	1,379
Long-term Debt, Maturities, Repayments of Principal in Year Four	1,379
Long-term Debt, Maturities, Repayments of Principal in Year Five	1,379
TERME DI GALZIGNANO, S.r.l. [Member] | MORTGAGE LOAN 2 [Member]	'
Debt Instrument Object	'Cash facility
Debt Instrument, Collateral	'Hotel property in Galzignano (Padova), Italy
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months	5,533
Aral Immobiliare S.r.l. [Member] | CAPITAL LEASE [Member]	'
Debt Instrument Object	'Building purchase
Debt Instrument, Collateral	'Hotel property in Rome, Italy
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months	1,001
Long-term Debt, Maturities, Repayments of Principal in Year Two	642
Long-term Debt, Maturities, Repayments of Principal in Year Three	671
Long-term Debt, Maturities, Repayments of Principal in Year Four	702
Long-term Debt, Maturities, Repayments of Principal in Year Five	734
Aral Immobiliare S.r.l. [Member] | MORTGAGE LOAN [Member]	'
Debt Instrument Object	'Building purchase
Debt Instrument, Collateral	'Building, Porto Cervo (Olbia), Italy
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months	60
Long-term Debt, Maturities, Repayments of Principal in Year Two	61
Long-term Debt, Maturities, Repayments of Principal in Year Three	63
Long-term Debt, Maturities, Repayments of Principal in Year Four	65
Long-term Debt, Maturities, Repayments of Principal in Year Five	€ 68

BANK_OVERDRAFTS_AND_LONGTERM_D6

BANK OVERDRAFTS AND LONG-TERM DEBT (Details 4) (EUR €)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Building	€ 42,030	€ 42,030
Less: accumulated depreciation	-6,614	-5,669
Net balance	€ 35,416	€ 36,361

BANK_OVERDRAFTS_AND_LONGTERM_D7

BANK OVERDRAFTS AND LONG-TERM DEBT (Details 5) (EUR €)	Sep. 30, 2013
In Thousands, unless otherwise specified
2014	€ 2,400
2015	1,977
2016	1,977
2017	1,977
2018	1,977
Later years	21,469
Purchase option	11,852
Net minimum lease payments	43,630
Less: Amount representing interest	-14,475
Present value of net minimum lease payments	€ 29,154

INCOME_TAXES_Details

INCOME TAXES (Details) (EUR €)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Deferred tax asset - net operating loss carryovers	€ 797	€ 179
Less Valuation allowance	-797	-179
Net deferred tax asset	€ 0	€ 0

INCOME_TAXES_Details_1

INCOME TAXES (Details 1) (EUR €)	3 Months Ended	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Income tax at Italian statutory rate of 27.5%	'	-€ 618	€ 603
Increase in valuation allowance	'	618	-603
Income tax benefit	€ 38	€ 0	€ 113

INCOME_TAXES_Details_Textual

INCOME TAXES (Details Textual) (EUR €)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Operating Loss Carryforwards	€ 2,865	€ 651
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate	27.50%	'
Operating Loss Carry Forwards Percentage Of Offset Available	80.00%	'
Operating Loss Carry Forwards Percentage Of Offset Available First Three Years	100.00%	'

SUBSEQUENT_EVENTS_Details_Text

SUBSEQUENT EVENTS (Details Textual) (EUR €)	Oct. 10, 2013	Sep. 30, 2013	Oct. 10, 2013	Sep. 30, 2013	Oct. 10, 2013	Oct. 10, 2013	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2013
	I.B.H. Management Company, S.r.l. [Member]	I.B.H. Management Company, S.r.l. [Member]	AralImmobiliareS.r.l. [Member]	AralImmobiliareS.r.l. [Member]	Subsequent Event [Member]	Subsequent Event [Member]	Subsequent Event [Member]	Subsequent Event [Member]	Subsequent Event [Member]
					I.B.H. Management Company, S.r.l. [Member]	AralImmobiliareS.r.l. [Member]	AralImmobiliareS.r.l. [Member]	AralImmobiliareS.r.l. [Member]	AralImmobiliareS.r.l. [Member]
							Year One [Member]	Year Two [Member]	Year Three [Member]
							Ripa Management Agreement [Member]	Ripa Management Agreement [Member]	Ripa Management Agreement [Member]
Business Acquisition, Percentage Of Voting Interests Acquired	90.00%	100.00%	10.00%	100.00%	90.00%	10.00%	'	'	'
Business Combination Annual Consideration Transferred	'	'	'	'	'	'	€ 1,680,000	€ 1,920,000	€ 2,160,000
Business Combination Annual Consideration Value Consist Of	'	'	'	'	'	'	'€1,680,000 plus VAT for the first year of the agreement,	'€ 1,920,000 plus VAT for the second year of the agreement,	'€ 2,160,000 plus VAT for the third year and all years of the agreement thereafter.