<PAGE>   1





   
                                 F O R M   10-Q/A
    




                       SECURITIES AND EXCHANGE COMMISSION

                            Washington, D. C. 20549



                              --------------------



               Quarterly Report Pursuant to Section 13 or 15 (d)
                     of The Securities Exchange Act of 1934



                              --------------------



                        For Quarter Ended June 30, 1996


                          Commission File No. 2-64309


                            GOLF HOST RESORTS, INC.

            STATE OF COLORADO EMPLOYER IDENTIFICATION NO. 84-0631130

                Post Office Drawer 3131, Durango, Colorado 81302

                        Telephone Number (970) 259-2000



     Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15 (d) of the Securities Exchange Act of
1934 during the preceding twelve months, and (2) has been subject to the filing
requirements for the past 90 days. - Yes   X               No 
                                          ---                 ---

     Issuer has no common stock subject to this report.



                                  

<PAGE>   2




    The remainder of Note 3 has not changed significantly from the 10-K filing
    of December 31, 1995.

(4) LEASES

    During the quarter, there was no significant change from the 10-K filing of
    December 31, 1995.

(5) ACCRUED EXPENSES

    Accrued expenses consist of the following:



   
<TABLE>
<CAPTION>
                                              June 30,  December 31,
                                               1996         1995
                                            ----------  ------------
            <S>                             <C>         <C>

            Rental pool lease operations    $2,080,776   $1,760,259
            Salaries                         1,255,002    1,400,364
            Taxes, other than income taxes     572,720      742,033
            Other                              441,643      371,429
                                            ----------   ----------
                                            $4,350,141   $4,274,085
                                            ==========   ==========
</TABLE>
    


(6) INCOME TAX ALLOCATION AND SHARING POLICY

    During the quarter, there was no significant change from the 10-K filing of
    December 31, 1995.

(7) SUPPLEMENTAL CASH FLOW DATA

    The (increases) decreases  in working capital other than cash are as
    follows:



<TABLE>
<CAPTION>
                                        Six Months Ended June 30,
                                        ----------------------------
                                            1996          1995
                                        -------------  -------------
            <S>                         <C>            <C>

            Accounts receivable         $ 226,012      $  (473,893)
            Inventories and supplies     (169,646)         (53,344)
            Prepaid expenses and other    (62,517)         (11,234)
            Intercompany                  210,208         (436,600)
            Accounts payable              185,261          495,564
            Accrued expenses               76,056         (260,435)
            Deposits and prepaid fees    (572,925)     $(1,037,640)
                                        ---------      -----------
                                        $(107,551)     $(1,777,582)
                                        =========      ===========
</TABLE>





                                     

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                                   SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.



                            GOLF HOST RESORTS, INC.




   

Date: October 2, 1997           By: /s/ R. S. Ferreira
      ---------------           ---------------------------
                                Richard S. Ferreira
                                Executive Vice President
                                Chief Financial Officer




Date: October 2, 1997           By: /s/ A. S. Herzog 
      ---------------           ---------------------------
                                A. Stephen Herzog            
                                Vice President and Controller
                                Chief Accounting Officer     

Date: October 2, 1997           By: /s/ R. L. Akin
      ---------------           -----------------------
                                Richard L. Akin
                                Vice President
                                and Treasurer