**SECURITIES      AND EXCHANGE COMMISSION**

**WASHINGTON,      D.C. 20549**

**FORM 10-K/A**

**FOR      ANNUAL AND TRANSITION REPORTS**

**PURSUANT      TO SECTIONS 13 OR 15(d) OF THE**

**SECURITIES      EXCHANGE ACT OF 1934**

| **ý**                                                                                                                                                                                                                                                                                                                                                                                                       | **ANNUAL                REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES                EXCHANGE ACT OF 1934**     |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                                                                                                                                                                                                                             |                                                                                                                                 |
| **For                the fiscal year ended January 31, 2005.**                                                                                                                                                                                                                                                                                                                                              |
|                                                                                                                                                                                                                                                                                                                                                                                                             |                                                                                                                                 |
| **o**                                                                                                                                                                                                                                                                                                                                                                                                            | **TRANSITION                REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES                EXCHANGE ACT OF 1934** |
|                                                                                                                                                                                                                                                                                                                                                                                                             |                                                                                                                                 |
| **For                the transition period from                                                         to                                         .** |
|                                                                                                                                                                                                                                                                                                                                                                                                             |                                                                                                                                 |
| **Commission                File No. 1-7062**                                                                                                                                                                                                                                                                                                                                                               |

| **InnSuites                Hospitality Trust**                                                                          |
|-------------------------------------------------------------------------------------------------------------------------|
| (Exact                Name of Registrant as Specified in Its Charter)                                                   |
|                                                                                                                    |   |   |
| **Ohio**                                                                                                                |   | **34-6647590** |
| (State                or Other Jurisdiction of Incorporation or Organization)                                           |   | (I.R.S.                Employer Identification Number) |
|                                                                                                                    |   |   |
| **InnSuites                Hotels Centre, 1615 E. Northern Avenue,****Suite 102,                Phoenix, Arizona** |   | **85020** |
| (Address                of Principal Executive Offices)                                                                 |   | (ZIP                Code) |
|                                                                                                                    |   |   |
| Registrant’s                Telephone Number, including area code: **(602)                944-1500**              |
|                                                                                                                    |

| **Title of                Each Class**                                   |   | **Name                of Exchange on Which Registered** |
|-------------------------------------------------------------------------------|--------|---------------------------------------------------------|
| Shares                of Beneficial Interest,without                par value |   | American                Stock Exchange                  |

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|                                                    |   | **For                the Year Ended January 31,** |   |
|---------------------------------------------------------|--------|--------------------------------------------------------|--------|
|                                                    |   | **2005**                                               |   | **2004** |   | **2003** |   |
|                                                    |   |                                                   |   |   |   |   |   |   |   |   |
| Occupancy                                               |   |                                                   | 68.55  | % |   | 62.79 | % |   | 60.46 | % |
|                                                    |   |                                                   |   |   |   |   |   |   |   |   |
| Average                Daily Rate (ADR)                 |   | $                                                      | 70.83  |   | $ | 66.27 |   | $ | 66.59 |   |
|                                                    |   |                                                   |   |   |   |   |   |   |   |   |
| Revenue                Per Available Room (REVPAR) |   | $                                                      | 48.55  |   | $ | 41.61 |   | $ | 40.26 |   |

***Results      of Operations of the Trust for the year ended January 31, 2005 compared to      the year ended January 31, 2004.***

*Overview*

|                                                       |   | **2005**    |     | **2004**    |   | **Change**   |   | **%                Change** |      |
|------------------------------------------------------------|--------|-------------|----------|-------------|--------|--------------|--------|-----------------------------|-----------|
| Revenue                                                    |   | $22,875,187 |     | $24,211,328 |   | $(1,336,141) |   | (5.5)%                      |      |
| Operating                Loss                              |   | $           | (221,647 | )           | $      | (272,479     | )      | $                           | 50,832    |   |   | 18.7 | % |
| Net                Income (Loss)                           |   | $           | 240,442  |        | $      | (2,594,317   | )      | $                           | 2,834,759 |   |   | >100.0 | % |
| Income                (Loss) Per Share - Basic and Diluted |   | $           | 0.10     |        | $      | (1.27        | )      | $                           | 1.37      |   |   | >100.0 | % |

----

----

***Results      of Operations of the Trust for the year ended January 31, 2004 compared to      the year ended January 31, 2003.***

*Overview*

|                                              |   | **2004**    |       | **2003**    |   | **Change**   |   | **%                Change** |    |
|---------------------------------------------------|--------|-------------|------------|-------------|--------|--------------|--------|-----------------------------|---------|
| Revenue                                           |   | $24,211,328 |       | $26,940,473 |   | $(2,729,145) |   | (10.1)%                     |    |
| Operating                Loss                     |   | $           | (272,479   | )           | $      | (1,080,639   | )      | $                           | 808,160 |   |   | 74.8 | % |
| Net                Loss                           |   | $           | (2,594,317 | )           | $      | (3,445,948   | )      | $                           | 851,631 |   |   | 24.7 | % |
| Loss                Per Share - Basic and Diluted |   | $           | (1.27      | )           | $      | (1.67        | )      | $                           | 0.40    |   |   | 24.0 | % |

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----

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|                                                                                                                                                               |   | **PAYMENTS                DUE BY PERIOD** |       |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------------------|------------|
| **CONTRACTUAL                OBLIGATIONS**                                                                                                                         |   | **TOTAL**                                 |       | **LESS****THAN****1                YEAR** |   | **1-3****YEARS** |   | **3-5****YEARS** |   | **THEREAFTER** |   |
|                                                                                                                                                               |   |                                      |       |   |   |   |   |   |   |   |   |
| Mortgage                notes payable, notes payable to banks, other notes payable and notes                and                advances payable to related parties |   | $                                         | 24,849,370 |   | $ | 1,673,537 |   | $ | 2,564,700 |   | $ | 6,643,302 |   | $ | 13,967,831 |   |
|                                                                                                                                                               |   |                                      |       |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Operating                leases                                                                                                                                    |   |                                      | 7,128,793  |   |   | 196,186 |   |   | 392,372 |   |   | 392,372 |   |   | 6,147,863 |   |
|                                                                                                                                                               |   |                                      |       |   |   |   |   |   |   |   |   |   |   |   |   |   |
| TOTAL                                                                                                                                                              |   | $                                         | 31,978,163 |   | $ | 1,869,723 |   | $ | 2,957,072 |   | $ | 7,035,674 |   | $ | 20,115,694 |   |

|        |   |   | **TOTAL**  |   |   | **LESS****THAN****1                YEAR** |   |   | **1-3****YEARS** |   |   | **3-5****YEARS** |   |   | **THEREAFTER** |   |
|--------|--------|--------|------------|--------|--------|-------------------------------------------|--------|--------|------------------|--------|--------|------------------|--------|--------|----------------|--------|
|   |   |   |       |   |   |                                      |   |   |             |   |   |             |   |   |           |   |
|   |   | $      | 10,519,880 |   | $      | 1,912,019                                 |   | $      | 3,482,861        |   | $      | 2,898,244        |   | $      | 2,226,756      |   |

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|   | • | fluctuations                in hotel occupancy rates; |
|--------|---------|-------------------------------------------------------|

|   | • | changes                in room rental rates which may be charged by InnSuites Hotels in                response                to market rental rate changes or                otherwise; |
|--------|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | interest                rate fluctuations; |
|--------|---------|--------------------------------------------|

|   | • | changes                in federal income tax laws and                regulations; |
|--------|---------|-----------------------------------------------------------------------------------|

|   | **•** | competition; |
|--------|-------------|--------------|

|   | • | any                changes in the Trust’s financial condition or operating results due to                acquisitions or dispositions of hotel                properties; |
|--------|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | real                estate and hospitality market                conditions; |
|--------|---------|------------------------------------------------------------------------------|

|   | • | hospitality                industry factors; |
|--------|---------|----------------------------------------------|

|   | • | terrorist                attacks or other acts of war; |
|--------|---------|--------------------------------------------------------|

|   | • | outbreaks                of communicable diseases; |
|--------|---------|----------------------------------------------------|

|   | • | natural                disasters; |
|--------|---------|-----------------------------------|

|   | • | local                or national economic and business conditions, including, without                limitation, conditions which may affect public securities markets                generally, the hospitality industry or the markets in which the Trust                operates or will operate; and |
|--------|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | uncertainties                the Trust might encounter in changing from a REIT to a tax-paying                entity. |
|--------|---------|-----------------------------------------------------------------------------------------------------------------------|

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| (a)(3) |   | Exhibit List |
|--------|--------|-------------------|

| **Exhibit No.** |   | **Exhibit**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|----------------------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 3.1(2)               |   | Second                Amended and Restated Declaration of Trust of InnSuites Hospitality                Trust                dated June 16, 1998, as further amended on July 12,                1999.                                                                                                                                                                                                                                                                                                                                         |
|                 |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 10.1                 |   | First                Amended and Restated Agreement of Limited Partnership of RRF Limited                Partnership dated January 31, 1998 (incorporated by reference to                Exhibit 10.1 of the Registrant’s Registration Statement on                Form S-2, filed with the Securities and Exchange Commission on                September 8, 1998).                                                                                                                                                          |
|                 |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 10.2(1)(2)           |   | Employment                Agreement dated as of January 31, 1998, between InnSuites Hospitality                Trust and James F. Wirth.                                                                                                                                                                                                                                                                                                                                                                                                           |
|                 |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 10.3(1)              |   | Indemnity                Agreement dated February 3, 2004 between InnSuites Hospitality Trust                and                each of James F. Wirth, Marc E. Berg, Steven S. Robson, Peter A.                Thoma,                and Anthony B. Waters (incorporated by reference to Exhibit 10.3                of the                Registrant’s Annual Report on Form 10-K for the fiscal year ended January                31, 2004 filed with the Securities and Exchange Commission on April                30,                2004). |
|                 |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 10.4(1)              |   | Indemnification                Agreement dated January 4, 2005 between InnSuites Hospitality Trust                and                Mason E. Anderson (incorporated by reference to Exhibit 10.1 of the                Registrant’s Current Report on Form 8-K, filed with the Securities and                Exchange Commission on January 7, 2005).                                                                                                                                                                                            |
|                 |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 10.5                 |   | Debt                Exchange Agreement effective January 31, 2005 between InnSuites                Hospitality Trust and RRF Limited Partnership (incorporated by reference                to Exhibit 10.1 of the Registrant’s Current Report on Form 8-K,                filed with the Securities and Exchange Commission on February 4,                2005).                                                                                                                                                              |
|                 |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 10.6                 |   | Yuma                Acquisition Agreement effective January 31, 2005 between InnSuites                Hospitality Trust and RRF Limited Partnership (incorporated by reference                to Exhibit 10.2 of the Registrant’s Current Report on Form 8-K,                filed with the Securities and Exchange Commission on February 4,                2005).                                                                                                                                                           |
|                 |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 10.7                 |   | Note                Exchange Agreement effective January 31, 2005 between InnSuites                Hospitality Trust and Hulsey Hotels Corporation (incorporated by                reference                to Exhibit 10.3 of the Registrant’s Current Report on Form 8-K,                filed with the Securities and Exchange Commission on February 4,                2005).                                                                                                                                             |
|                 |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 10.8                 |   | Note                Exchange Agreement effective January 31, 2005 between InnSuites                Hospitality Trust and the note holders named therein (incorporated                by                reference to Exhibit 10.4 of the Registrant’s Current Report on                Form 8-K, filed with the Securities and Exchange Commission on                February 4, 2005).                                                                                                                                        |
|                 |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 10.9                 |   | Class B                Units Conversion Agreement effective January 31, 2005 between                InnSuites Hospitality Trust and the Class B Unit holders named                therein (incorporated by reference to Exhibit 10.5 of the                Registrant’s Current Report on Form 8-K, filed with the Securities                and Exchange Commission on February 4, 2005).                                                                                                                          |
|                 |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 10.10(2)             |   | Promissory                Note dated July 26, 2002 by InnSuites Hospitality Trust in favor of                The Anderson Charitable Remainder Unitrust.                                                                                                                                                                                                                                                                                                                                                                                           |
|                 |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 14                   |   | Code                of Ethics for Senior Financial Officers (incorporated by reference                to                Exhibit 14 of the Registrant’s Annual Report on Form 10-K for                the fiscal year ended January 31, 2004, filed with the Securities and                Exchange Commission on April 30, 2004).                                                                                                                                                                                             |
|                 |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 21(2)                |   | Subsidiaries                of the Registrant.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|                 |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 23.1(2)              |   | Consent                of Epstein, Weber & Conover, P.L.C., Independent Registered                Public Accounting Firm.                                                                                                                                                                                                                                                                                                                                                                                                                      |
|                 |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 23.2(2)              |   | Consent                of McGladrey & Pullen, LLP, Independent Registered Public                Accounting Firm.                                                                                                                                                                                                                                                                                                                                                                                                                               |
|                 |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 31.1(3)              |   | Certification                of Chief Executive Officer pursuant to Section 302 of the                Sarbanes-Oxley Act of 2002.                                                                                                                                                                                                                                                                                                                                                                                                                  |
|                 |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 31.2(3)              |   | Certification                of Chief Financial Officer pursuant to Section 302 of the                Sarbanes-Oxley Act of 2002.                                                                                                                                                                                                                                                                                                                                                                                                                  |
|                 |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 32.1(3)              |   | Certification                of Chief Executive Officer required by Section 906 of the                Sarbanes-Oxley Act of 2002.                                                                                                                                                                                                                                                                                                                                                                                                                  |
|                 |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| 32.2(3)              |   | Certification                of Chief Financial Officer required by Section 906 of the                Sarbanes-Oxley Act of 2002.                                                                                                                                                                                                                                                                                                                                                                                                                  |

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|                                 | INNSUITES                HOSPITALITY TRUST |
|--------------------------------------|--------------------------------------------|
|                                 |                                       |
|                                 |                                       |
| Dated:                March 24, 2006 | By:                                        | /s/                James F. Wirth |
|                                 |                                       | James                F. Wirth, Chairman,President                and Chief Executive Officer(Principal                Executive Officer) |
|                                 |                                       |   |
|                                 |                                       |   |
| Dated:                March 24, 2006 | By:                                        | /s/                Anthony B. Waters |
|                                 |                                       | Anthony                B. Waters, Chief Financial Officer(Principal                Financial Officer) |

| Dated:                March 24, 2006 | By:    | /s/                James F. Wirth                                                                                                       |
|--------------------------------------|--------|-----------------------------------------------------------------------------------------------------------------------------------------|
|                                 |   | James                F. Wirth, ChairmanPresident                and Chief Executive Officer(Principal                Executive Officer) |
|                                 |   |                                                                                                                                    |
|                                 |   |                                                                                                                                    |
| Dated:                March 24, 2006 | By:    | /s/                Anthony B. Waters                                                                                                    |
|                                 |   | Anthony                B. Waters, Chief Financial Officer(Principal                Financial Officer)                                   |
|                                 |   |                                                                                                                                    |
|                                 |   |                                                                                                                                    |
| Dated:                March 24, 2006 | By:    | /s/                Marc E. Berg                                                                                                         |
|                                 |   | Marc                E. Berg, Trustee                                                                                                    |
|                                 |   |                                                                                                                                    |
|                                 |   |                                                                                                                                    |
| Dated:                March 24, 2006 | By:    | /s/                Steven S. Robson                                                                                                     |
|                                 |   | Steven                S. Robson, Trustee                                                                                                |
|                                 |   |                                                                                                                                    |
|                                 |   |                                                                                                                                    |
| Dated:                March 24, 2006 | By:    | /s/                Peter A. Thoma                                                                                                       |
|                                 |   | Peter                A. Thoma, Trustee                                                                                                  |
|                                 |   |                                                                                                                                    |
|                                 |   |                                                                                                                                    |
| Dated:                March 24, 2006 | By:    | /s/                Larry Pelegrin                                                                                                       |
|                                 |   | Larry                Pelegrin, Trustee                                                                                                  |