<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from the
unaudited condensed balance sheet at October 31, 1997 and the unaudited
condensed statement of operations for the nine months ended October 31, 1997 and
is qualified in its entirety by reference to such financial statements.
</LEGEND>
<MULTIPLIER> 1,000
       
                                     
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          JAN-31-1998
<PERIOD-START>                             FEB-01-1997
<PERIOD-END>                               OCT-31-1997
<CASH>                                          11,973
<SECURITIES>                                         0
<RECEIVABLES>                                      924
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                14,242
<PP&E>                                         777,232
<DEPRECIATION>                                  22,060
<TOTAL-ASSETS>                               1,002,964
<CURRENT-LIABILITIES>                           34,390
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                           300
<OTHER-SE>                                     179,398
<TOTAL-LIABILITY-AND-EQUITY>                 1,002,964
<SALES>                                              0
<TOTAL-REVENUES>                                   571
<CGS>                                                0
<TOTAL-COSTS>                                   31,445
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                              13,870
<INCOME-PRETAX>                                  4,595
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                              4,595
<DISCONTINUED>                                       0
<EXTRAORDINARY>                               (94,580)
<CHANGES>                                            0
<NET-INCOME>                                  (89,985)
<EPS-PRIMARY>                                   (3.00)
<EPS-DILUTED>                                     0.00