<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from the
unaudited condensed balance sheet at April 30, 1997 and the unaudited
condensed statement of operations for the three months ended April 30,
1997 and is qualified in its entirety by reference to such financial
statements.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          JAN-31-1997
<PERIOD-START>                             FEB-01-1997
<PERIOD-END>                               APR-30-1997
<CASH>                                          15,344
<SECURITIES>                                         0
<RECEIVABLES>                                       22
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                15,814
<PP&E>                                         585,949
<DEPRECIATION>                                  18,528
<TOTAL-ASSETS>                                 608,404
<CURRENT-LIABILITIES>                           75,885
<BONDS>                                        379,638
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                           300
<OTHER-SE>                                      62,016
<TOTAL-LIABILITY-AND-EQUITY>                   608,404
<SALES>                                              0
<TOTAL-REVENUES>                                     0
<CGS>                                                0
<TOTAL-COSTS>                                   13,867
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                               3,296
<INCOME-PRETAX>                               (19,047)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                           (19,047)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                  (19,047)
<EPS-PRIMARY>                                   (0.63)
<EPS-DILUTED>                                        0