Sotherly Hotels (SOHO) 10-K 21 Mar 23 2022 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2022	Mar. 05, 2023	Jun. 30, 2022
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Document Annual Report	true
Document Transition Report	false
Entity Registrant Name	SOTHERLY HOTELS INC.
Entity Central Index Key	0001301236
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	true
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Incorporation, State or Country Code	MD
Entity File Number	001-32379
Entity Tax Identification Number	20-1531029
Entity Address, Address Line One	306 South Henry Street, Suite 100
Entity Address, City or Town	Williamsburg
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	23185
City Area Code	757
Local Phone Number	229-5648
Entity Common Stock, Shares Outstanding		19,235,803
Entity Public Float			$ 26,443,236
Auditor Firm ID	686
Auditor Name	FORVIS, LLP
Auditor Location	Richmond, Virginia
Documents Incorporated by Reference	Part III of this Form 10-K incorporates by reference certain portions of Sotherly Hotels Inc.’s proxy statement for its 2023 annual meeting of stockholders to be filed with the Securities and Exchange Commission not later than 120 days after the end of the fiscal year covered by this report.
Common Stock [Member]
Document Information [Line Items]
Title of each class	Common Stock, $0.01 par value
Trading Symbol	SOHO
Name of each exchange on which registered	NASDAQ
8.0% Series B Cumulative Redeemable Perpetual Preferred Stock [Member]
Document Information [Line Items]
Title of each class	8.0% Series B Cumulative Redeemable Perpetual Preferred Stock, $0.01 par value
Trading Symbol	SOHOB
Name of each exchange on which registered	NASDAQ
7.875% Series C Cumulative Redeemable Perpetual Preferred Stock [Member]
Document Information [Line Items]
Title of each class	7.875% Series C Cumulative Redeemable Perpetual Preferred Stock, $0.01 par value
Trading Symbol	SOHOO
Name of each exchange on which registered	NASDAQ
8.25% Series D Cumulative Redeemable Perpetual Preferred Stock [Member]
Document Information [Line Items]
Title of each class	8.25% Series D Cumulative Redeemable Perpetual Preferred Stock, $0.01 par value
Trading Symbol	SOHON
Name of each exchange on which registered	NASDAQ
Sotherly Hotels LP [Member]
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Document Annual Report	true
Document Transition Report	false
Entity Registrant Name	SOTHERLY HOTELS LP
Entity Central Index Key	0001301236
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Incorporation, State or Country Code	DE
Entity File Number	001-36091
Entity Tax Identification Number	20-1965427
Entity Address, Address Line One	306 South Henry Street, Suite 100
Entity Address, City or Town	Williamsburg
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	23185
City Area Code	757
Local Phone Number	229-5648

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2022	Dec. 31, 2021
ASSETS
Investment in hotel properties, net	$ 365,070,725	$ 375,885,224
Investment in hotel properties held for sale, net		22,870,487
Cash and cash equivalents	21,918,680	13,166,883
Restricted cash	5,422,950	12,411,654
Accounts receivable, net	5,844,904	4,822,187
Prepaid expenses, inventory and other assets	8,311,862	6,894,228
TOTAL ASSETS	406,569,121	436,050,663
LIABILITIES
Mortgage loans, net	320,482,103	351,170,883
Secured notes, net		19,128,330
Unsecured notes	2,545,975	7,609,934
Accounts payable and accrued liabilities	25,704,835	35,960,293
Advance deposits	2,233,013	1,552,942
Dividends and distributions payable	4,082,472	4,125,351
TOTAL LIABILITIES	355,048,398	419,547,733
Commitments and contingencies
Sotherly Hotels Inc. stockholders’ equity
Common stock, par value $0.01, 69,000,000 shares authorized, 18,951,525 shares issued and outstanding at December 31, 2022 and 17,441,058 shares issued and outstanding at December 31, 2021.	189,515	174,410
Additional paid-in capital	175,611,370	177,651,954
Unearned ESOP shares	(2,601,134)	(3,083,398)
Distributions in excess of retained earnings	(120,985,183)	(153,521,704)
Total Sotherly Hotels Inc. stockholders’ equity	52,254,301	21,261,858
Noncontrolling interest	(733,578)	(4,758,928)
TOTAL EQUITY	51,520,723	16,502,930
TOTAL LIABILITIES AND EQUITY	406,569,121	436,050,663
8.0% Series B Cumulative Redeemable Perpetual Preferred Stock [Member]
Sotherly Hotels Inc. stockholders’ equity
Preferred stock, $0.01 par value, 11,000,000 shares authorized:	14,641	15,100
7.875% Series C Cumulative Redeemable Perpetual Preferred Stock [Member]
Sotherly Hotels Inc. stockholders’ equity
Preferred stock, $0.01 par value, 11,000,000 shares authorized:	13,461	13,846
8.25% Series D Cumulative Redeemable Perpetual Preferred Stock [Member]
Sotherly Hotels Inc. stockholders’ equity
Preferred stock, $0.01 par value, 11,000,000 shares authorized:	11,631	11,650
Sotherly Hotels LP [Member]
ASSETS
Investment in hotel properties, net	365,070,725	375,885,224
Investment in hotel properties held for sale, net		22,870,487
Cash and cash equivalents	21,918,680	13,166,883
Restricted cash	5,422,950	12,411,654
Accounts receivable, net	5,844,904	4,822,187
Loan receivable - affiliate	2,650,526	3,157,172
Prepaid expenses, inventory and other assets	8,311,862	6,894,228
TOTAL ASSETS	409,219,647	439,207,835
LIABILITIES
Mortgage loans, net	320,482,103	351,170,883
Secured notes, net		19,128,330
Unsecured notes	2,545,975	7,609,934
Accounts payable and accrued liabilities	25,704,835	35,960,293
Advance deposits	2,233,013	1,552,942
Dividends and distributions payable	4,082,472	4,125,351
TOTAL LIABILITIES	355,048,398	419,547,733
Commitments and contingencies
PARTNERS' CAPITAL
General Partner: 197,767 units and 185,748 units issued and outstanding as of December 31, 2022 and 2021, respectively	(106,022)	(469,805)
Limited Partners: 19,578,946 units and 18,389,030 units issued and outstanding as of December 31, 2022 and 2021, respectively	(39,143,494)	(75,315,469)
TOTAL PARTNERS' CAPITAL	54,171,249	19,660,102
Sotherly Hotels Inc. stockholders’ equity
TOTAL LIABILITIES AND EQUITY	409,219,647	439,207,835
Sotherly Hotels LP [Member] | 8.0% Series B Cumulative Redeemable Perpetual Preferred Units [Member]
PARTNERS' CAPITAL
Preferred units, 11,000,000 units authorized;	34,344,086	35,420,784
Sotherly Hotels LP [Member] | 7.875% Series C Cumulative Redeemable Perpetual Preferred Stock [Member]
PARTNERS' CAPITAL
Preferred units, 11,000,000 units authorized;	31,571,778	32,474,760
Sotherly Hotels LP [Member] | 8.25% Series D Cumulative Redeemable Perpetual Preferred Stock [Member]
PARTNERS' CAPITAL
Preferred units, 11,000,000 units authorized;	$ 27,504,901	$ 27,549,832

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Preferred stock, shares authorized	11,000,000	11,000,000
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	69,000,000	69,000,000
Common stock, shares issued	18,951,525	17,441,058
Common stock, shares outstanding	18,951,525	17,441,058
8.0% Series B Cumulative Redeemable Perpetual Preferred Stock [Member]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	11,000,000	11,000,000
Preferred stock, dividend rate percentage	8%	8%
Preferred stock, shares issued	1,464,100	1,510,000
Preferred stock, shares outstanding	1,464,100	1,510,000
Preferred stock, aggregate liquidation preference	$ 44,655,050	$ 43,035,000
7.875% Series C Cumulative Redeemable Perpetual Preferred Stock [Member]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	11,000,000	11,000,000
Preferred stock, dividend rate percentage	7.875%	7.875%
Preferred stock, shares issued	1,346,110	1,384,610
Preferred stock, shares outstanding	1,346,110	1,384,610
Preferred stock, aggregate liquidation preference	$ 40,940,681	$ 39,385,669
8.25% Series D Cumulative Redeemable Perpetual Preferred Stock [Member]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	11,000,000	11,000,000
Preferred stock, dividend rate percentage	8.25%	8.25%
Preferred stock, shares issued	1,163,100	1,165,000
Preferred stock, shares outstanding	1,163,100	1,165,000
Preferred stock, aggregate liquidation preference	$ 35,674,458	$ 33,329,922
Sotherly Hotels LP [Member]
General Partner, units issued	197,767	185,748
General Partner, units outstanding	197,767	185,748
Limited Partner, units issued	19,578,946	18,389,030
Limited Partner, units outstanding	19,578,946	18,389,030
Sotherly Hotels LP [Member] | 8.0% Series B Cumulative Redeemable Perpetual Preferred Units [Member]
Preferred units, authorized	11,000,000	11,000,000
Preferred units, dividend rate percentage	8%	8%
Preferred units, issued	1,464,100	1,510,000
Preferred units, outstanding	1,464,100	1,510,000
Preferred units, aggregate liquidation preference	$ 44,655,050	$ 43,035,000
Sotherly Hotels LP [Member] | 7.875% Series C Cumulative Redeemable Perpetual Preferred Stock [Member]
Preferred units, authorized	11,000,000	11,000,000
Preferred units, dividend rate percentage	7.875%	7.875%
Preferred units, issued	1,346,110	1,384,610
Preferred units, outstanding	1,346,110	1,384,610
Preferred units, aggregate liquidation preference	$ 40,940,681	$ 39,385,669
Sotherly Hotels LP [Member] | 8.25% Series D Cumulative Redeemable Perpetual Preferred Stock [Member]
Preferred units, authorized	11,000,000	11,000,000
Preferred units, dividend rate percentage	8.25%	8.25%
Preferred units, issued	1,163,100	1,165,000
Preferred units, outstanding	1,163,100	1,165,000
Preferred units, aggregate liquidation preference	$ 35,674,458	$ 33,329,922

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
REVENUE
Total revenue	$ 166,077,304	$ 127,587,924	$ 71,502,576
Hotel operating expenses
Total hotel operating expenses	119,614,736	96,693,363	74,726,885
Depreciation and amortization	18,650,336	19,909,226	19,896,772
Impairment of investment in hotel properties, net	0	12,201,461
Loss (gain) on disposal of assets	636,198	(158,286)	136,063
Corporate general and administrative	6,621,221	6,997,166	6,492,526
Total operating expenses	145,522,491	135,642,930	101,252,246
NET OPERATING INCOME (LOSS)	20,554,813	(8,055,006)	(29,749,670)
Other income (expense)
Interest expense	(19,772,802)	(22,686,694)	(18,056,874)
Interest income	189,291	147,025	210,426
Loss on early extinguishment of debt	(5,944,881)
Unrealized gain (loss) on hedging activities	2,918,207	1,493,841	(986,200)
PPP loan forgiveness	4,720,278
Gain on sale of hotel properties	30,053,977
Gain on involuntary conversion of assets	1,763,320	588,586	179,856
Net income (loss) before income taxes	34,482,203	(28,512,248)	(48,402,462)
Income tax provision	(522,355)	(27,392)	(5,280,443)
Net income (loss)	33,959,848	(28,539,640)	(53,682,905)
Less: Net (income) loss attributable to noncontrolling interest	(1,423,327)	2,318,166	4,489,341
Net income (loss) attributable to the Company	32,536,521	(26,221,474)	(49,193,564)
Undeclared distributions to preferred stockholders	(7,634,219)	(7,541,891)	(8,755,642)
Gain on extinguishment of preferred stock/units	64,518	361,476
Net income (loss) attributable to common stockholders	$ 24,966,820	$ (33,401,889)	$ (57,949,206)
Net income (loss) per share attributable to common stockholders/general and limited partner unit
Basic	$ 1.40	$ (2.15)	$ (4.05)
Diluted	$ 1.40	$ (2.15)	$ (4.05)
Weighted average number of common shares/general and limited partner units outstanding
Basic	17,802,772	15,531,684	14,312,049
Diluted	17,802,772	15,531,684	14,312,049
Sotherly Hotels LP [Member]
REVENUE
Total revenue	$ 166,077,304	$ 127,587,924	$ 71,502,576
Hotel operating expenses
Total hotel operating expenses	119,614,736	96,693,363	74,726,885
Depreciation and amortization	18,650,336	19,909,226	19,896,772
Impairment of investment in hotel properties, net		12,201,461
Loss (gain) on disposal of assets	636,198	(158,286)	136,063
Corporate general and administrative	6,621,221	6,997,166	6,492,526
Total operating expenses	145,522,491	135,642,930	101,252,246
NET OPERATING INCOME (LOSS)	20,554,813	(8,055,006)	(29,749,670)
Other income (expense)
Interest expense	(19,772,802)	(22,686,694)	(18,056,874)
Interest income	189,291	147,025	210,426
Loss on early extinguishment of debt	(5,944,881)
Unrealized gain (loss) on hedging activities	2,918,207	1,493,841	(986,200)
PPP loan forgiveness	4,720,278
Gain on sale of hotel properties	30,053,977
Gain on involuntary conversion of assets	1,763,320	588,586	179,856
Net income (loss) before income taxes	34,482,203	(28,512,248)	(48,402,462)
Income tax provision	(522,355)	(27,392)	(5,280,443)
Net income (loss)	33,959,848	(28,539,640)	(53,682,905)
Undeclared distributions to preferred stockholders	(7,634,219)	(7,541,891)	(8,755,642)
Undeclared distributions to preferred unit holders	(7,634,219)	(7,541,891)	(8,755,642)
Gain on extinguishment of preferred stock/units	64,518	361,476
Net income (loss) attributable to general and limited partnership unit holders	$ 26,390,147	$ (35,720,055)	$ (62,438,547)
Net income (loss) per share attributable to common stockholders/general and limited partner unit
Basic	$ 1.36	$ (2.08)	$ (3.89)
Diluted	$ 1.36	$ (2.08)	$ (3.89)
Weighted average number of common shares/general and limited partner units outstanding
Basic	19,266,320	17,186,789	16,065,499
Diluted	19,266,320	17,186,789	16,065,499
Rooms Department [Member]
REVENUE
Total revenue	$ 109,553,906	$ 88,625,659	$ 49,192,589
Hotel operating expenses
Total hotel operating expenses	25,782,888	22,688,063	15,565,313
Rooms Department [Member] | Sotherly Hotels LP [Member]
REVENUE
Total revenue	109,553,906	88,625,659	49,192,589
Hotel operating expenses
Total hotel operating expenses	25,782,888	22,688,063	15,565,313
Food and Beverage Department [Member]
REVENUE
Total revenue	29,556,213	15,829,487	10,676,646
Hotel operating expenses
Total hotel operating expenses	19,724,225	10,297,461	8,531,411
Food and Beverage Department [Member] | Sotherly Hotels LP [Member]
REVENUE
Total revenue	29,556,213	15,829,487	10,676,646
Hotel operating expenses
Total hotel operating expenses	19,724,225	10,297,461	8,531,411
Other Operating Departments [Member]
REVENUE
Total revenue	26,967,185	23,132,778	11,633,341
Hotel operating expenses
Total hotel operating expenses	9,296,056	8,607,594	5,142,853
Other Operating Departments [Member] | Sotherly Hotels LP [Member]
REVENUE
Total revenue	26,967,185	23,132,778	11,633,341
Hotel operating expenses
Total hotel operating expenses	9,296,056	8,607,594	5,142,853
Indirect [Member]
Hotel operating expenses
Total hotel operating expenses	64,811,567	55,100,245	45,487,308
Indirect [Member] | Sotherly Hotels LP [Member]
Hotel operating expenses
Total hotel operating expenses	$ 64,811,567	$ 55,100,245	$ 45,487,308

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - USD ($)	Total	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-In Capital [Member]	Unearned ESOP Shares [Member]	Distributions in Excess of Retained Earnings [Member]	Noncontrolling Interest [Member]
Balances, beginning at Dec. 31, 2019	$ 101,407,171	$ 43,646	$ 142,723	$ 180,515,861	$ (4,105,637)	$ (73,990,690)	$ (1,198,732)
Balances, shares, beginning at Dec. 31, 2019		4,364,610	14,272,378
Net income (loss)	(53,682,905)					(49,193,564)	(4,489,341)
Issuance of restricted common stock awards	461,939		$ 1,876	460,063
Issuance of restricted common stock awards, shares			187,583
Issuance of unrestricted common stock awards	14,175		$ 23	14,152
Issuance of unrestricted common stock awards, shares			2,250
Conversion of units in Operating Partnership to shares of common stock			$ 5,616	(505,699)	(322)		500,405
Conversion of units in Operating Partnership to shares of common stock, shares			561,639
Amortization of ESOP shares	205,216			(264,717)	469,933
Amortization of restricted stock award	72,780			72,780
Preferred stock dividends declared	(2,188,910)					(2,188,910)
Common stockholders' dividends and distributions declared	(2,088,161)					(1,927,066)	(161,095)
Balances, ending at Dec. 31, 2020	44,201,305	$ 43,646	$ 150,238	180,292,440	(3,636,026)	(127,300,230)	(5,348,763)
Balances, shares, ending at Dec. 31, 2020		4,364,610	15,023,850
Net income (loss)	(28,539,640)					(26,221,474)	(2,318,166)
Issuance of preferred stock	444,766
Issuance of common stock awards			$ 1,513	443,253
Issuance of common stock awards, shares			151,281
Conversion of units in Operating Partnership to shares of common stock			$ 328	(2,908,329)			2,908,001
Conversion of units in Operating Partnership to shares of common stock, shares			32,781
Amortization of ESOP shares	172,000			(380,628)	552,628
Amortization of restricted stock award	72,780			72,780
Extinguishment of preferred stock	151,719	$ (3,050)	$ 22,331	132,438
Extinguishment of preferred stock, shares		(305,000)	2,233,146
Balances, ending at Dec. 31, 2021	16,502,930	$ 40,596	$ 174,410	177,651,954	(3,083,398)	(153,521,704)	(4,758,928)
Balances, shares, ending at Dec. 31, 2021		4,059,610	17,441,058
Net income (loss)	33,959,848					32,536,521	1,423,327
Issuance of common stock awards	798,686		$ 3,951	794,735
Issuance of common stock awards, shares			395,086
Conversion of units in Operating Partnership to shares of common stock			$ 3,085	(2,605,108)			2,602,023
Conversion of units in Operating Partnership to shares of common stock, shares			308,532
Amortization of ESOP shares	126,958			(355,306)	482,264
Amortization of restricted stock award	72,780			72,780
Extinguishment of preferred stock	59,521	$ (863)	$ 8,069	52,315
Extinguishment of preferred stock, shares		(86,300)	806,849
Balances, ending at Dec. 31, 2022	$ 51,520,723	$ 39,733	$ 189,515	$ 175,611,370	$ (2,601,134)	$ (120,985,183)	$ (733,578)
Balances, shares, ending at Dec. 31, 2022		3,973,310	18,951,525

Consolidated Statements of Cash

Consolidated Statements of Cash Flows	12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Cash flows from operating activities:
Net income (loss)	$ 33,959,848	$ (28,539,640)	$ (53,682,905)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	18,650,336	19,909,226	19,896,772
Impairment of investment in hotel properties, net	0	12,201,461
Amortization of deferred financing costs	1,293,092	1,029,306	572,696
Amortization of mortgage premium	(24,681)	(24,681)	(24,681)
Gain on involuntary conversion of assets	(1,763,320)	(588,586)	(179,856)
Unrealized (gain) loss on hedging activities	(2,918,207)	(1,493,841)	986,200
Loss on early extinguishment of debt	5,944,881
PPP loan forgiveness	(4,720,278)
Gain on sale of assets	(30,053,977)
Loss (gain) on disposal of assets	633,803	(158,286)	136,063
ESOP and stock / unit - based compensation	998,424	689,547	754,111
Changes in assets and liabilities:
Accounts receivable	(1,439,886)	(2,640,487)	3,032,703
Prepaid expenses, inventory and other assets	(1,597,055)	719,031	(2,197,874)
Deferred income taxes			5,412,084
Accounts payable and other accrued liabilities	(12,984,231)	1,630,584	15,152,165
Advance deposits	680,071	(411,131)	(821,265)
Accounts receivable - affiliate			(300,153)
Net cash provided by (used in) operating activities	6,658,820	2,322,503	(11,263,940)
Cash flows from investing activities:
Proceeds from sale of hotel properties	52,403,981
Improvements and additions to hotel properties	(7,964,630)	(3,176,841)	(4,015,514)
Proceeds from involuntary conversion	2,180,489	588,586	179,856
Proceeds from sale of assets	35,327	200,500	56,677
Net cash provided by (used in) investing activities	46,655,167	(2,387,755)	(3,778,981)
Cash flows from financing activities:
Proceeds from mortgage loans	7,777,475
Proceeds from secured notes			20,000,000
Proceeds from unsecured notes			10,719,100
Payments on mortgage loans	(38,507,799)	(6,528,078)	(2,609,861)
Payments on secured notes	(20,000,000)
Payments of unsecured notes	(461,181)	(3,109,166)
Payments of deferred financing costs	(359,389)	(19,513)	(1,560,680)
Dividends on common stock and distributions paid			(2,000,418)
Preferred dividends paid			(2,188,910)
Net cash (used in ) provided by financing activities	(51,550,894)	(9,656,757)	22,359,231
Net increase/(decrease) in cash, cash equivalents and restricted cash	1,763,093	(9,722,009)	7,316,310
Cash, cash equivalents and restricted cash at the beginning of the period	25,578,537	35,300,546	27,984,236
Cash, cash equivalents and restricted cash at the end of the period	27,341,630	25,578,537	35,300,546
Supplemental disclosures:
Cash paid during the period for interest	23,277,738	19,897,847	9,543,748
Cash paid (received) during the period for income taxes	26,000	20,200	(21,078)
Non-cash investing and financing activities:
Change in amount of improvements to hotel property in accounts payable and accrued liabilities	56,914	353,028	542,102
Cash and cash equivalents	21,918,680	13,166,883	25,297,771
Restricted cash	5,422,950	12,411,654	10,002,775
Cash, cash equivalents and restricted cash at the end of the period	27,341,630	25,578,537	35,300,546
Sotherly Hotels LP [Member]
Cash flows from operating activities:
Net income (loss)	33,959,848	(28,539,640)	(53,682,905)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	18,650,336	19,909,226	19,896,772
Impairment of investment in hotel properties, net		12,201,461
Amortization of deferred financing costs	1,293,092	1,029,306	572,696
Amortization of mortgage premium	(24,681)	(24,681)	(24,681)
Gain on involuntary conversion of assets	(1,763,320)	(588,586)	(179,856)
Unrealized (gain) loss on hedging activities	(2,918,207)	(1,493,841)	986,200
Loss on early extinguishment of debt	5,944,881
PPP loan forgiveness	(4,720,278)
Gain on sale of assets	(30,053,977)
Loss (gain) on disposal of assets	633,803	(158,286)	136,063
ESOP and stock / unit - based compensation	491,778	100,465	349,217
Changes in assets and liabilities:
Accounts receivable	(1,439,886)	(2,640,487)	3,032,703
Prepaid expenses, inventory and other assets	(1,597,055)	719,031	(2,197,874)
Deferred income taxes			5,412,084
Accounts payable and other accrued liabilities	(12,984,231)	1,630,584	15,152,165
Advance deposits	680,071	(411,131)	(821,265)
Accounts receivable - affiliate			(300,153)
Net cash provided by (used in) operating activities	6,152,174	1,733,421	(11,668,834)
Cash flows from investing activities:
Proceeds from sale of hotel properties	52,403,981
Improvements and additions to hotel properties	(7,964,630)	(3,176,841)	(4,015,514)
ESOP loan payments received	506,646	589,082	463,376
Proceeds from involuntary conversion	2,180,489	588,586	179,856
Proceeds from sale of assets	35,327	200,500	56,677
Net cash provided by (used in) investing activities	47,161,813	(1,798,673)	(3,315,605)
Cash flows from financing activities:
Proceeds from mortgage loans	7,777,475
Proceeds from secured notes			20,000,000
Proceeds from unsecured notes			10,719,100
Payments on mortgage loans	(38,507,799)	(6,528,078)	(2,609,861)
Payments on secured notes	(20,000,000)
Payments of unsecured notes	(461,181)	(3,109,166)
Payments of deferred financing costs	(359,389)	(19,513)	(1,560,680)
Dividends on common stock and distributions paid			(2,058,900)
Preferred dividends paid			(2,188,910)
Net cash (used in ) provided by financing activities	(51,550,894)	(9,656,757)	22,300,749
Net increase/(decrease) in cash, cash equivalents and restricted cash	1,763,093	(9,722,009)	7,316,310
Cash, cash equivalents and restricted cash at the beginning of the period	25,578,537	35,300,546	27,984,236
Cash, cash equivalents and restricted cash at the end of the period	27,341,630	25,578,537	35,300,546
Supplemental disclosures:
Cash paid during the period for interest	23,157,605	19,630,506	9,541,533
Cash paid (received) during the period for income taxes	26,000	20,200	(21,078)
Non-cash investing and financing activities:
Change in amount of improvements to hotel property in accounts payable and accrued liabilities	56,914	353,028	542,102
Cash and cash equivalents	21,918,680	13,166,883	25,297,771
Restricted cash	5,422,950	12,411,654	10,002,775
Cash, cash equivalents and restricted cash at the end of the period	$ 27,341,630	$ 25,578,537	$ 35,300,546

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Partners' Capital - USD ($)	Total	Sotherly Hotels LP [Member]	Sotherly Hotels LP [Member] General Partner [Member]	Sotherly Hotels LP [Member] Limited Partner [Member]	Sotherly Hotels LP [Member] Preferred Units [Member]	Sotherly Hotels LP [Member] Preferred Units [Member] Series B Preferred Units [Member]	Sotherly Hotels LP [Member] Preferred Units [Member] Series C Preferred Units [Member]	Sotherly Hotels LP [Member] Preferred Units [Member] Series D Preferred Units [Member]
Balances, beginning at Dec. 31, 2019		$ 105,558,317	$ 315,959	$ 2,636,363		$ 37,766,531	$ 36,461,955	$ 28,377,509
Balances, units, beginning at Dec. 31, 2019			160,006	15,840,512	4,364,610
Issuance of partnership units		476,113	$ 4,761	$ 471,352
Issuance of partnership units, number of units			1,898	187,935
Amortization of restricted units award	$ 72,780	72,780	$ 728	$ 72,052
Unit based compensation		(199,675)	(1,997)	(197,678)
Preferred units distributions declared		(2,188,910)				(805,000)	(765,160)	(618,750)
Partnership units distributions declared		(2,088,161)	(19,271)	(2,068,890)
Net income (loss)	$ (53,682,905)	(53,682,905)	(558,718)	(55,313,097)		805,000	765,160	618,750
Balances, ending at Dec. 31, 2020		47,947,559	$ (258,538)	$ (54,399,898)		37,766,531	36,461,955	28,377,509
Balances, units, ending at Dec. 31, 2020			161,904	16,028,447	4,364,610
Balances, beginning at Dec. 31, 2019		105,558,317	$ 315,959	$ 2,636,363		37,766,531	36,461,955	28,377,509
Balances, units, beginning at Dec. 31, 2019			160,006	15,840,512	4,364,610
Redemption of partnership units, number of units	0
Balances, ending at Dec. 31, 2021		19,660,102	$ (469,805)	$ (75,315,469)		35,420,784	32,474,760	27,549,832
Balances, units, ending at Dec. 31, 2021			185,748	18,389,030	4,059,610
Balances, beginning at Dec. 31, 2020		47,947,559	$ (258,538)	$ (54,399,898)		37,766,531	36,461,955	28,377,509
Balances, units, beginning at Dec. 31, 2020			161,904	16,028,447	4,364,610
Issuance of partnership units		444,766	$ 4,448	$ 440,318
Issuance of partnership units, number of units			1,513	149,768
Amortization of restricted units award	$ 72,780	72,780	$ 728	$ 72,052
Unit based compensation		(417,082)	(4,171)	(412,911)
Extinguishment of preferred units	151,719	151,719	$ 73,124	$ 7,239,214		(2,345,747)	(3,987,195)	(827,677)
Extinguishment of preferred units, shares			22,331	2,210,815	(305,000)
Net income (loss)	(28,539,640)	(28,539,640)	$ (285,396)	$ (28,254,244)
Balances, ending at Dec. 31, 2021		19,660,102	$ (469,805)	$ (75,315,469)		$ 35,420,784	32,474,760	27,549,832
Balances, units, ending at Dec. 31, 2021			185,748	18,389,030	4,059,610
Issuance of partnership units		798,686	$ 7,987	$ 790,699
Issuance of partnership units, number of units			3,951	391,135
Amortization of restricted units award	72,780	72,780	$ 728	$ 72,052
Unit based compensation		(379,688)	(5,025)	(374,663)
Extinguishment of preferred units	59,521	59,521	$ 20,495	$ 2,063,637			(902,982)	(44,931)
Extinguishment of preferred units, shares			8,068	798,781	(86,300)	(1,076,698)
Net income (loss)	$ 33,959,848	33,959,848	$ 339,598	$ 33,620,250
Balances, ending at Dec. 31, 2022		$ 54,171,249	$ 106,022	$ (39,143,494)		$ 34,344,086	$ 31,571,778	$ 27,504,901
Balances, units, ending at Dec. 31, 2022			197,767	19,578,946	3,973,310

Organization and Description of

Organization and Description of Business	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Organization and Description of Business	1. Organization and Description of Business Sotherly Hotels Inc. (the “Company”) is a self-managed and self-administered lodging real estate investment trust (“REIT”) that was incorporated in Maryland on August 20, 2004 . The Company historically has focused on the acquisition, renovation, upbranding and repositioning of upscale to upper-upscale full-service hotels in the southern United States. The Company’s portfolio, as of December 31, 2022 , consisted of investments in ten hotel properties, comprising 2,786 rooms and two hotel commercial condominium units and their associated rental programs. Seven of our hotels operated under the Hilton, DoubleTree and Hyatt brands, and three are independent hotels. The Company commenced operations on December 21, 2004 when it completed its initial public offering (“IPO”) and thereafter consummated the acquisition of six hotel properties. Substantially all of the Company’s assets are held by, and all of its operations are conducted through, Sotherly Hotels LP, (the “Operating Partnership”). Pursuant to the terms of the Amended and Restated Agreement of Limited Partnership (the “Partnership Agreement”), the Company, as general partner, is not entitled to compensation for its services to the Operating Partnership. The Company, as general partner, conducts substantially all of its operations through the Operating Partnership and the Company’s administrative expenses are the obligations of the Operating Partnership. Additionally, the Company is entitled to reimbursement for any expenditure incurred by it on the Operating Partnership’s behalf. For the Company to qualify as a REIT, it cannot operate hotels. Therefore, the Operating Partnership, which, at December 31, 2022 , was approximately 95.8 % owned by the Company, and its subsidiaries, lease its hotels to direct and indirect subsidiaries of MHI Hospitality TRS Holding, Inc., MHI Hospitality TRS, LLC and certain of its subsidiaries, (collectively, “MHI TRS Entities”), each of which is a wholly-owned subsidiary of the Operating Partnership. For the years ended December 31, 2022, 2021, and 2020, the MHI TRS Entities engaged eligible independent hotel management companies, MHI Hotels Services, LLC, which did business as Chesapeake Hospitality (“Chesapeake Hospitality”); Highgate Hotels, L.P.; and Our Town Hospitality, LLC (“Our Town”) to operate the hotels under management contracts. MHI Hospitality TRS Holding, Inc. is treated as a taxable REIT subsidiary (“TRS”) for federal income tax purposes. As of December 31, 2022 , Our Town was the manager of each of our ten wholly-owned hotels and our two condominium hotel rental programs. All references in these “Notes to Consolidated Financial Statements” to “we,” “us” and “our” refer to the Company, its Operating Partnership and its subsidiaries and predecessors, collectively, unless the context otherwise requires or where otherwise indicated. Significant Transactions Significant transactions occurring during the current and two prior fiscal years include the following: Between April 16 and May 6, 2020, the Company received proceeds of three separate PPP Loans administered by the U.S. Small Business Administration pursuant to the CARES Act totaling approximately $ 10.7 million. Each PPP Loan had an initial term of two years with the ability to extend the loan to five years , if not completely forgiven and carries an interest rate of 1.00 %. Equal payments of principal and interest were to begin no later than 10 months following origination of the loan and are amortized over the remaining term of the loan . Pursuant to the terms of the CARES Act, the proceeds of each PPP Loan may be used for payroll costs, mortgage interest, rent or utility costs. The promissory note for each PPP Loan contains customary events of default relating to, among other things, payment defaults and breach of representations and warranties or of provisions of the relevant promissory note. On December 9, 2022, the Company was notified it had received forgiveness for one of its PPP Loans in the principal amount of approximately $ 4.6 million. On February 3, 2023, the Company was notified it has received forgiveness for another PPP Loan in the principal amount of approximately $ 0.3 million. On December 31, 2020, we entered into the following agreements with KWHP SOHO, LLC ("KW") and MIG SOHO, LLC (together, the "Investors"): (i) a Note Purchase Agreement with the Investors; (ii) the Secured Notes; (iii) a Pledge and Security Agreement with KW; (iv) a Board Observer Agreement with KW; and (v) other ancillary agreements. These agreements constituted a transaction whereby the Investors purchased $ 20.0 million in Secured Notes (the "Secured Notes") from the Operating Partnership. On June 29, 2022, the Company satisfied and paid in full the Secured Notes. On November 30, 2021, Raleigh Hotel Associates, LLC, a Delaware limited liability company and an affiliate of the Company, entered into a real estate sale agreement to sell the DoubleTree by Hilton Raleigh-Brownstone University hotel located in Raleigh, North Carolina to CS Acquisition Vehicle, LLC, a Delaware limited liability company, for a purchase price of $ 42.0 million. On December 13, 2021, Louisville Hotel Associates, LLC, a Delaware limited liability company and an affiliate of the Company, entered into a purchase and sale agreement to sell the Sheraton Louisville Riverside hotel located in Jeffersonville, Indiana to Riverside Hotel, LLC, an Indiana limited liability company, for a purchase price of $ 11.5 million, including the assumption by the buyer of the mortgage loan on the hotel. On February 10, 2022, the Company closed the sale of the Sheraton Louisville Riverside hotel. There were no net proceeds from the sale. On June 10, 2022, we closed the sale of the DoubleTree by Hilton Raleigh-Brownstone University hotel. The Company used approximately $ 18.6 million of the net cash proceeds from the sale of the hotel to repay the existing mortgage on the property and approximately $ 19.8 million of the net cash proceeds to repay a portion of the Secured Notes with the Investors as required by the terms of the Secured Notes. The Company used the remaining net cash proceeds general corporate purposes. The Investors received approximately $ 19.8 million of the proceeds from the sale of the hotel, of which approximately $ 13.3 million was applied toward principal, approximately $ 6.3 million was applied toward the exit fee owed under the Secured Notes, and approximately $ 0.2 million was applied toward accrued interest. Additionally, the terms of the Secured Notes allowed for the release of a portion of the interest reserves in the amount of approximately $ 1.6 million, of which approximately $ 1.1 million was applied toward principal and approximately $ 0.5 million was applied toward the exit fee. On June 28, 2022, affiliates of the Company entered into amended loan documents to modify the existing mortgage loan on the Hotel Alba Tampa with the existing lender, Fifth Third Bank. Pursuant to the amended loan documents, the amended mortgage loan: (i) has an increased principal balance of $ 25.0 million; (ii) includes an extended maturity date of June 30, 2025 , which may be further extended for two additional periods of one year each, subject to certain conditions; (iii) bears a floating interest rate of SOFR plus 2.75 %, subject to a floor rate of 2.75 %; (iv) amortizes on a 25-year schedule and requires payments of monthly interest plus $ 40,600 monthly amortization payments; and (v) is guaranteed by the Operating Partnership up to $ 12.5 million, with the guaranty reducing to $ 6.25 million upon the successful achievement of certain performance milestones. On June 29, 2022, the Company used the proceeds from the refinance of the Hotel Alba Tampa, along with approximately $ 0.2 million of cash on hand as well as the balance of the interest reserve under the Secured Notes of approximately $ 0.5 million, to satisfy and pay in full the Secured Notes. The Investors received approximately $ 8.3 million in satisfaction of the Secured Notes, of which approximately $ 5.6 million was applied toward principal, approximately $ 2.6 million was applied toward the exit fee owed under the Secured Notes, and approximately $ 0.02 million was applied toward accrued interest. Concurrent with the cancellation of the Secured Notes, the following agreements were also terminated in accordance with their terms: (i) Note Purchase Agreement; (ii) Pledge and Security Agreement; (iii) Board Observer Agreement; and (iv) other related ancillary agreements. From June 21, 2021 through August 24, 2022, the Company entered into various privately-negotiated share exchange agreements with holders of its Series B Preferred Stock, Series C Preferred Stock and Series D Preferred Stock, in reliance on Section 3(a)(9) of the Securities Act. Pursuant to those share exchange agreements, the Company has exchanged an aggregate of 3,0393,995 shares of its common stock for 145,900 shares of the Series B Preferred Stock, 208,500 shares of the Series C Preferred Stock, and 36,900 shares of the Series D Preferred Stock, together with all of the holder’s rights to receive accrued and unpaid dividends on those shares of Series B Preferred Stock, Series C Preferred Stock, and Series D Preferred Stock. The common stock was issued in reliance on the exemption from registration set forth in Section 3(a)(9) of the Securities Act, as amended, for securities exchanged by an issuer with an existing security holder in a transaction where no commission or other remuneration was be paid or given directly or indirectly for soliciting such an exchange.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation – The consolidated financial statements of the Company presented herein include all the accounts of Sotherly Hotels Inc., the Operating Partnership and the MHI TRS Entities. All significant inter-company balances and transactions have been eliminated. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. The consolidated financial statements of the Operating Partnership presented herein include all the accounts of Sotherly Hotels LP and the MHI TRS Entities. All significant inter-company balances and transactions have been eliminated. Additionally, all administrative expenses of the Company and those expenditures made by the Company on behalf of the Operating Partnership are reflected as the administrative expenses, expenditures and obligations thereto of the Operating Partnership, pursuant to the terms of the Partnership Agreement. Variable Interest Entities – The Operating Partnership is a variable interest entity. The Company’s only significant asset is its investment in the Operating Partnership, and consequently, substantially all of the Company’s assets and liabilities represent those assets and liabilities of the Operating Partnership and its subsidiaries. All of the Company’s debt is an obligation of the Operating Partnership and its subsidiaries. Investment in Hotel Properties – Investments in hotel properties include investments in operating properties which are recorded at fair value on the acquisition date and allocated to land, property and equipment and identifiable intangible assets. Replacements and improvements are capitalized, while repairs and maintenance are expensed as incurred. Upon the sale or retirement of a fixed asset, the cost and related accumulated depreciation are removed from our accounts and any resulting gain or loss is included in the statements of operations. Expenditures under a renovation project, which constitute additions or improvements that extend the life of the property, are capitalized. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, generally 7 to 39 years for buildings and building improvements and 3 to 10 years for furniture, fixtures and equipment. Leasehold improvements are amortized over the shorter of the lease term or the useful lives of the related assets. The Company assesses the carrying values of its investments in hotel properties whenever events or changes in circumstances indicate that the carrying value of the hotel properties may not be recoverable. Events or circumstances that may cause a review include, but are not limited to, adverse permanent changes in the demand for lodging at the properties due to declining national or local economic conditions and/or new hotel construction in markets where the hotels are located. When such conditions exist, management performs an analysis to determine if the estimated undiscounted future cash flows from operations and the proceeds from the ultimate disposition of a hotel property exceeds its carrying value. If the estimated undiscounted future cash flows are found to be less than the carrying amount of the asset, an adjustment to reduce the carrying amount to the related hotel property’s estimated fair market value would be recorded and an impairment loss recognized. The COVID-19 pandemic has had, an adverse impact on the lodging and hospitality industries, which the Company considered to be a triggering event for each of its hotels during its impairment testing for the year ended December 31, 2021. The Company assessed the recoverability of each of its hotel properties which included a projection of future operating cash flows based upon significant assumptions regarding its ability to maintain ownership of the property, growth rates, occupancy, room rates, economic trends, property-specific operating costs, an allowance for the replacement of furniture, fixtures and equipment and projected cash flows from the eventual disposition of the hotel. The Company also projected cash flows assuming an eventual disposition of the hotel based upon property-specific capitalization rates. As of December 31, 2021, the Company determined the Sheraton Louisville Riverside, to be impaired based on the proceeds received in a subsequent sale, as well as The Whitehall in Houston, Texas due to the lack of certainty regarding our ability to extend or refinance the mortgage which was set to mature in early 2023. The Company recognized an impairment loss of approximately $ 12.2 million during the period ended December 31, 2021. The impairment loss was determined using level 2 inputs under authoritative guidance for fair value measurements. No impairment loss was recognized for the year ended December 31, 2022. Assets Held for Sale – The Company records assets as held for sale when management has committed to a plan to sell the assets, actively seeks a buyer for the assets, and the consummation of the sale is considered probable and is expected within one year. When the carrying value of the asset is greater than the fair value, the Company reduces the carrying value to fair value less selling costs and recognizes an impairment loss. Cash and Cash Equivalents – The Company consider all highly liquid investments with an original maturity of three months or less to be cash equivalents. Concentration of Credit Risk – The Company holds cash accounts at several institutions in excess of the Federal Deposit Insurance Corporation (the “FDIC”) protection limits of $ 250,000 . Our exposure to credit loss in the event of the failure of these institutions is represented by the difference between the FDIC protection limit and the total amounts on deposit. Management monitors, on a regular basis, the financial condition of the financial institutions along with the balances there on deposit to minimize our potential risk. Restricted Cash – Restricted cash includes real estate tax escrows, insurance escrows and reserves for replacements of furniture, fixtures and equipment pursuant to certain requirements in our various mortgage agreements. Accounts Receivable – Accounts receivable consists primarily of hotel guest, banqueting and credit card receivables. Ongoing evaluations of collectability are performed and an allowance for potential credit losses is provided against the portion of accounts receivable that is estimated to be uncollectible. Inventories – Inventories, consisting primarily of food and beverages, are stated at the lower of cost or net realizable value, with cost determined on a method that approximates first-in, first-out basis. Franchise License Fees – Fees expended to obtain or renew a franchise license are amortized over the life of the license or renewal. The unamortized franchise fees as of December 31, 2022 and 2021 were approximately $ 241,038 and $ 294,390 , respectively. Amortization expense for the years ended December 31, 2022, 2021, and 2020 was $ 48,852 , $ 59,482 and $ 59,482 , respectively. Deferred Financing Costs – Deferred financing costs are recorded at cost and consist of loan fees and other costs incurred in issuing debt and are reflected in mortgage loans, net and unsecured notes, net on the consolidated balance sheets. Deferred offering costs are recorded at cost and consist of offering fees and other costs incurred in advance of issuing equity and are reflected in prepaid expenses, inventory and other assets on the consolidated balance sheets. Amortization of deferred financing costs is computed using a method that approximates the effective interest method over the term of the related debt and is included in interest expense in the consolidated statements of operations. Derivative Instruments – Our derivative instruments are reflected as assets or liabilities on the consolidated balance sheet and measured at fair value. Derivative instruments used to hedge the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as an interest rate risk, are considered fair value hedges. Derivative instruments used to hedge exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. For a derivative instrument designated as a cash flow hedge, the change in fair value each period is reported in accumulated other comprehensive income in stockholders’ equity and partners’ capital to the extent the hedge is effective. For a derivative instrument designated as a fair value hedge, the change in fair value each period is reported in earnings along with the change in fair value of the hedged item attributable to the risk being hedged. For a derivative instrument that does not qualify for hedge accounting or is not designated as a hedge, the change in fair value each period is reported in earnings. We use derivative instruments to add stability to interest expense and to manage our exposure to interest-rate movements. To accomplish this objective, we currently use interest rate caps and an interest rate swap which act as cash flow hedges and are not designated as hedges. We value our interest-rate caps and interest rate swap at fair value, which we define 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 (exit price). We do not enter into contracts to purchase or sell derivative instruments for speculative trading purposes. Fair Value Measurements – We classify the inputs used to measure fair value into the following hierarchy: Level 1 Unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 Unadjusted quoted prices in active markets for similar assets or liabilities, or unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs other than quoted prices that are observable for the asset or liability. Level 3 Unobservable inputs for the asset or liability. We endeavor to utilize the best available information in measuring fair value. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The following table represents our assets and liabilities measured at fair value and the basis for that measurement (our interest rate caps and interest rate swap are the only assets or liabilities measured at fair value on a recurring basis, there were two non-recurring or infrequent asset valuations and no non-recurring liabilities for fair value measurements as of December 31, 2022 and 2021, respectively): Level 1 Level 2 Level 3 December 31, 2021 Interest rate cap (1) $ — $ 47 $ — Interest rate swap (2) $ — $ ( 1,537,319 ) $ — Mortgage loans (3) $ — $ ( 355,496,444 ) $ — Investment in hotel properties, net (4) $ — $ 23,000,000 $ — Investment in hotel properties held for sale, net (5) $ — $ 11,063,952 $ — December 31, 2022 Interest rate swaps (2) $ — $ 1,308,503 $ — Mortgage loans (3) $ — $ ( 306,300,855 ) $ — (1) Interest rate cap, which caps the 1-month LIBOR rate at 3.25 %. (2) Interest rate swaps, one of which swaps the Loan Rate for a fixed interest rate of 5.237 % for the DoubleTree by Hilton Philadelphia Airport mortgage and is valued at December 31, 2022 and December 31, 2021 , and the other which swaps the Loan Rate for a fixed rate of 5.576 % for the Hotel Alba Tampa mortgage and is valued only at December 31, 2022. Notional amounts of the swaps approximate the declining balance of the loan. (3) Mortgage loans had a carrying value on our Consolidated Balance Sheets of $ 320,482,103 and $ 351,170,883 , as of December 31, 2022 and December 31, 2021, respectively. (4) Investment in hotel properties, net, a non-recurring asset, is reflected at appraised value as of December 31, 2021. (5) Investment in hotel properties held for sale, net, a non-recurring asset, is reflected at net realizable value as of December 31, 2021. Noncontrolling Interest in Operating Partnership – Certain hotel properties have been acquired, in part, by the Operating Partnership through the issuance of limited partnership units of the Operating Partnership. The noncontrolling interest in the Operating Partnership is: (i) increased or decreased by the limited partners’ pro-rata share of the Operating Partnership’s net income or net loss, respectively; (ii) decreased by distributions; (iii) decreased by redemption of partnership units for the Company’s common stock; and (iv) adjusted to equal the net equity of the Operating Partnership multiplied by the limited partners’ ownership percentage immediately after each issuance of units of the Operating Partnership and/or the Company’s common stock through an adjustment to additional paid-in capital. Net income or net loss is allocated to the noncontrolling interest in the Operating Partnership based on the weighted average percentage ownership throughout the period. Revenue Recognition – Revenue consists of amounts derived from hotel operations, including the sales of rooms, food and beverage, and other ancillary services. Room revenue is recognized over a customer’s hotel stay. Revenue from food and beverage and other ancillary services is generated when a customer chooses to purchase goods or services separately from a hotel room and revenue is recognized on these distinct goods and services at the point in time or over the time period that goods or services are provided to the customer. Some contracts for rooms or food and beverage services require an upfront deposit which is recorded as advanced deposits (or contract liabilities) shown on our consolidated balance sheets and recognized once the performance obligations are satisfied. Certain ancillary services are provided by third parties and the Company assessed whether it is the principal or agent in these arrangements. If the Company is the agent, revenue is recognized based upon the gross commission earned from the third party. If the Company is the principal, the Company recognizes based upon the gross sales price. With respect to the hotel condominium rental programs the Company operates at the Hyde Resort & Residences and the Hyde Beach House Resort & Residences, the Company has determined that it is an agent and recognizes revenue based on its share of revenue earned under the rental agency agreement. Certain of the Company’s hotels have retail spaces, restaurants or other spaces which the Company leases to third parties. Lease revenue is recognized on a straight-line basis over the life of the lease and included in other operating revenues in the Company’s consolidated statements of operations. The Company collects revenue, sales taxes, use taxes, occupancy taxes and similar taxes at its hotels which are reflected in revenue on a net basis on the consolidated statements of operations. Lease Revenue – Several of our properties generate revenue from leasing commercial space adjacent to the hotel, the restaurant space within the hotel, portions of our parking facilities, apartment units and space on the roofs of our hotels for antennas and satellite dishes. We account for the lease income as revenue from other operating departments within the consolidated statement of operations pursuant to the terms of each lease. Lease revenue was approximately $ 1.3 million, $ 1.7 million and $ 1.4 million, for the years ended December 31, 2022, 2021, and 2020, respectively. A schedule of minimum future lease payments receivable for the following twelve-month periods is as follows: December 31, 2023 1,370,292 December 31, 2024 1,367,550 December 31, 2025 1,339,747 December 31, 2026 1,330,479 December 31, 2027 1,327,226 December 31, 2028 and thereafter 19,575,361 Total 26,310,655 Lessee Accounting – The Company’s operating lease agreements primarily include the ground lease on the Hyatt Centric Arlington, the parking garage lease in Hollywood, Florida at the Hyde Beach House Resort & Residences, and the corporate office lease. The assets are classified as “right of use assets”, which represent our right to use an underlying asset and the operating lease liability, which represent our obligation to make lease payments arising from the lease, is classified within “accounts payable and other accrued liabilities”. Right of use assets and operating lease liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. Variable lease payments are excluded from the right of use assets and operating lease liabilities are recognized in the period in which the obligation for those payments is incurred. As our leases do not provide an implicit financing rate, we use our incremental borrowing cost based on information available at the commencement date using our actual borrowing rates commensurate with the lease terms and fully levered borrowing to determine present value. Extension options on our leases are included in our minimum lease terms when they are reasonably certain to be exercised. Income Taxes – The Company has elected to be taxed as a REIT under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended. As a REIT, the Company generally will not be subject to federal income tax. The MHI TRS Entities which leases our hotels from subsidiaries of the Operating Partnership, are subject to federal and state income taxes. We account for income taxes using the asset and liability method under which deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. A valuation allowance is required for deferred tax assets if, based on all available evidence, it is “more-likely-than-not” that all or a portion of the deferred tax asset will or will not be realized due to the inability to generate sufficient taxable income in certain financial statement periods. The “more-likely-than-not” analysis means the likelihood of realization is greater than 50 %, that we either will or will not be able to fully utilize the deferred tax assets against future taxable income. The net amount of deferred tax assets that are recorded on the financial statements must reflect the tax benefits that are expected to be realized using these criteria. As of December 31, 2022, we determined that it is more-likely-than-not that we will not be able to fully utilize our deferred tax assets for future tax consequences; therefore, a 100 % valuation allowance is required. As of December 31, 2022 , we had no uncertain tax positions. Our policy is to recognize interest and penalties related to uncertain tax positions in income tax expense. As of December 31, 2022, the tax years that remain subject to examination by the major tax jurisdictions to which the Company is subject generally include 2011 through 2021. In addition, as of December 31, 2022, the tax years that remain subject to examination by the major tax jurisdictions to which the MHI TRS Entities are subject, because of open NOL carryforwards, generally include 2014 through 2021. The Operating Partnership is generally not subject to federal and state income taxes as the unit holders of the Partnership are subject to tax on their respective shares of the Partnership’s taxable income. Stock-based Compensation – The Company’s 2013 Long-Term Incentive Plan (the “2013 Plan”), which the Company’s stockholders approved in April 2013, permitted the grant of stock options, restricted stock and performance share compensation awards to its employees and directors for up to 750,000 shares of common stock. The Company believes that stock awards align the interests of its employees with those of its stockholders. Under the 2013 Plan, the Company made cumulative stock awards totaling 745,160 shares, of which 316,333 were originally restricted. As of December 31, 2022 , there were 45,000 restricted shares to certain executives, directors, and employees, and 700,160 non-restricted shares issued to certain executives, directors and employees. All awards have vested except for 45,000 shares issued to certain executives, which will vest over the next 7 years. The remaining 4,840 shares have been deregistered. Under the 2013 Plan, the Company was authorized to issue a variety of performance-based stock awards, including nonqualified stock options. The value of the awards is charged to compensation expense on a straight-line basis over the vesting or service period based on the value of the award as determined by the Company’s stock price on the date of grant or issuance. As of December 31, 2022 , no performance-based stock awards have been granted. Consequently, stock-based compensation as determined under the fair-value method would be the same under the intrinsic-value method. The Company’s 2022 Long-Term Incentive Plan (the “2022 Plan”), which the Company’s stockholders approved in April 2022, permits the grant of stock options, restricted stock, unrestricted stock and performance share compensation awards to its employees and directors for up to 2,000,000 shares of common stock. Under the 2022 Plan, the Company may issue a variety of performance-based stock awards, including nonqualified stock options. The value of the awards is charged to compensation expense on a straight-line basis over the vesting or service period based on the value of the award as determined by the Company’s stock price on the date of grant or issuance. As of December 31, 2022 , 167,390 service-based stock awards have been granted. Total stock-based compensation cost recognized under the 2013 Plan and 2022 Plan for the years ended December 31, 2022, 2021, and 2020 was $ 871,466 , $ 517,546 and $ 548,894 , respectively. Additionally, the Company sponsors and maintains an Employee Stock Ownership Plan (“ESOP”) and related trust for the benefit of its eligible employees. We reflect unearned ESOP shares as a reduction of stockholders’ equity. Dividends on unearned ESOP shares, when paid, are considered compensation expense. The Company recognizes compensation expense equal to the fair value of the Company’s ESOP shares during the periods in which they are committed to be released. For the years ended December 31, 2022, 2021, and 2020 the ESOP compensation cost was $ 140,703 , $ 172,000 and $ 175,367 , respectively. To the extent that the fair value of the Company’s ESOP shares differs from the cost of such shares, the differential is recognized as additional paid in capital. Because the ESOP is internally leveraged through a loan from the Company to the ESOP, the loan receivable by the Company from the ESOP is not reported as an asset nor is the debt of the ESOP shown as a liability in the Company’s consolidated financial statements. Advertising – Advertising costs, including digital advertising, were approximately $ 2.2 million, $ 2.0 million and $ 1.4 million, for the years ended December 31, 2022, 2021, and 2020 , respectively and are expensed as incurred. Business Interruption Proceeds – Insurance recoveries for business interruption were recognized during the years ended December 31, 2022, 2021, and 2020 , for $ 62,010 , $ 200,000 , and $ 85,517 , respectively. The insurance proceeds were reflected in the statement of operations in other operating departments revenues . Involuntary Conversion of Assets – The Company record gains or losses on involuntary conversions of assets due to recovered insurance proceeds to the extent the undepreciated cost of a nonmonetary asset differs from the amount of monetary proceeds received. During the years ending December 31, 2022, 2021, and 2020 , we recognized approximately $ 1.8 million, $ 0.6 million and $ 0.2 million, respectively, for gain on involuntary conversion of assets, which is reflected in the consolidated statements of operations. Comprehensive Income (Loss) – Comprehensive income (loss), as defined, includes all changes in equity (net assets) during a period from non-owner sources. The Company does not have any items of comprehensive income (loss) other than net income (loss). Segment Information – The Company has determined that our business is conducted in one reportable segment: hotel ownership. Use of Estimates – The preparation of the financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. New Accounting Pronouncements – In June 2016, the FASB issued ASU 2016-13, Financial Instruments -Credit Losses(Topic 326) , which replaced the existing " incurred loss " approach with an " expected loss " model for financial instruments measured at amortized cost. For trade and other receivables, the forward looking "expected loss" model will generally result in the earlier recognition of allowances for losses. In November 2018, the FASB issued ASU 2018-19, Codification Improvements to Topic 326, Financial Instruments -Credit Losses, which clarified that operating lease receivables accounted for under ASC 842 are not in the scope of ASU 2016-13. We do not expect adoption of this standard to have a material impact on the Company's consolidated financial statements. In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform – Facilitation of the Effects of Reference Rate Reform on Financial Reporting , which provides temporary optional expedients and exceptions to the existing guidance on contract modifications and hedge accounting to ease the financial reporting burdens of the expected market transition from the London Interbank Offered Rate (“LIBOR”) and other interbank offered rates to alternative reference rates, such as the Secured Overnight Financing Rate (“SOFR”). The update provides guidance in accounting for changes in contracts, hedging relationships, and other transactions as a result of this reference rate reform. The option expedients and exceptions contained within this update, in general, only apply to contract amendments and modifications entered into prior to January 1, 2023. The provisions of this update will most likely affect our financial reporting process relating to modifications of contracts with lenders and the hedging contracts associated with each respective modified borrowing contract. In general, the provision of the update would benefit us by allowing modifications of debt contracts with lenders that fall under the guidance of ASC Topic 740 to be accounted for as a non-substantial modification and not be considered debt extinguishment. As of December 31, 2022 , we have not entered into any contract modification as it directly relates to reference rate reform, with the exception of a modification to the mortgages on The Whitehall in Houston, Texas, which changed the reference rate from LIBOR to the New York Prime Rate, and on Hotel Alba Tampa, Tapestry Collection in Tampa, Florida, which changed the reference rate from LIBOR to SOFR. On March 14, 2023, the Company modified the floating-rate mortgage on the DoubleTree by Hilton Philadelphia Airport to change the reference rate from 1-month LIBOR to SOFR. The Company anticipates no additional loan modifications will be required.

Disposal of Assets

Disposal of Assets	12 Months Ended
	Dec. 31, 2022
Discontinued Operations and Disposal Groups [Abstract]
Disposal of Assets	3. Disposal of Assets Sheraton Louisville Riverside and DoubleTree by Hilton Raleigh-Brownstone University. On February 10, 2022 and June 10, 2022, we closed on the sale of our hotel properties the Sheraton Louisville Riverside and the DoubleTree by Hilton Raleigh-Brownstone University, respectively. The results of operations for these two properties are included in our consolidated financial statements through the date of disposal. The following proforma financial information presents the results of operations of the Company and the Operating Partnership for the years ending December 31, 2022 and 2021, respectively, as if the disposition of properties, the Sheraton Louisville Riverside and the DoubleTree by Hilton Raleigh-Brownstone University, had taken place on January 1, 2021. The following proforma results have been prepared for comparative purposes only and do not purport to be indicative of the results of operations, had the transactions taken place on January 1, 2021: Twelve Months Ended Twelve Months Ended December 31, 2022 December 31, 2021 (unaudited) (unaudited) Pro forma revenues $ 162,852,282 $ 118,839,373 Pro forma operating expenses $ 143,126,315 $ 121,773,659 Pro forma operating expense (income) $ 19,725,967 $ ( 2,934,286 ) Pro forma net income (loss) $ 7,090,465 $ ( 21,984,647 ) Pro forma income (loss) per basic share $ 0.40 $ ( 1.42 ) Pro forma income (loss) per diluted share $ 0.40 $ ( 1.42 ) Pro forma income (loss) per basic unit $ 0.37 $ ( 1.28 ) Pro forma income (loss) per diluted unit $ 0.37 $ ( 1.28 ) Basic common shares 17,802,772 15,531,684 Diluted common shares 17,802,772 15,531,684 Basic units 19,266,320 17,186,789 Diluted units 19,266,320 17,186,789

Investment in Hotel Properties,

Investment in Hotel Properties, Net and Investment in Hotel Properties Held for Sale, Net	12 Months Ended
	Dec. 31, 2022
Real Estate [Abstract]
Investment in Hotel Properties, Net and Investment in Hotel Properties Held for Sale, Net	4. Investment in Hotel Properties, Net and Investment in Hotel Properties Held for Sale, Net Investment in hotel properties, net as of December 31, 2022 and 2021 consisted of the following: December 31, 2022 December 31, 2021 Land and land improvements $ 60,934,859 $ 60,395,168 Buildings and improvements 412,717,919 407,310,530 Right of use assets 5,199,845 5,711,607 Furniture, fixtures and equipment 51,292,107 50,505,902 530,144,730 523,923,207 Less: accumulated depreciation and impairment ( 165,074,005 ) ( 148,037,983 ) Investment in Hotel Properties, Net $ 365,070,725 $ 375,885,224 Our review of possible impairment during the years ended December 31, 2022 and 2021 , resulted in an impairment charge of approximately $ 12.2 million, related to the Sheraton Louisville Riverside and The Whitehall in Houston, Texas during the year ended December 31, 2021. Investment in hotel properties held for sale, net as of December 31, 2022 and 2021 consisted of the following: December 31, 2022 December 31, 2021 Land and land improvements $ — $ 5,799,197 Buildings and improvements — 36,115,121 Furniture, fixtures and equipment — 5,743,949 — 47,658,267 Less: accumulated depreciation and impairment — ( 24,787,780 ) Investment in Hotel Properties Held for Sale, Net $ — $ 22,870,487

Debt

Debt	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Debt	5. Debt Mortgage Loans, Net. As of December 31, 2022 and 2021 , the Company had approximately $ 320.5 million and approximately $ 351.2 million of outstanding mortgage debt, respectively. The following table sets forth our mortgage debt obligations on our hotels. Balance Outstanding as of December 31, December 31, Prepayment Maturity Amortization Interest Property 2022 2021 Penalties Date Provisions Rate The DeSoto (1) $ 31,219,022 $ 32,148,819 Yes 7/1/2026 25 years 4.25 % DoubleTree by Hilton Jacksonville (2) 32,416,570 33,051,316 Yes 7/11/2024 30 years 4.88 % DoubleTree by Hilton Laurel (3) 7,412,107 8,175,215 None 5/5/2023 25 years 5.25 % DoubleTree by Hilton Philadelphia Airport (4) 39,413,672 40,734,077 None 10/31/2023 30 years LIBOR plus 2.27 % DoubleTree by Hilton Raleigh- (5) — 18,300,000 Yes 8/1/2022 (5) LIBOR plus 4.00 % DoubleTree Resort by Hilton Hollywood (6) 52,724,475 54,253,963 (6) 10/1/2025 30 years 4.913 % Georgian Terrace (7) 40,492,622 41,484,732 (7) 6/1/2025 30 years 4.42 % Hotel Alba Tampa, Tapestry Collection by Hilton (8) 24,756,400 17,383,397 None 6/30/2025 (8) SOFR plus 2.75 % Hotel Ballast Wilmington, Tapestry Collection by (9) 31,699,775 32,604,948 Yes 1/1/2027 25 years 4.25 % Hyatt Centric Arlington (10) 47,534,606 48,990,136 Yes 10/1/2028 30 years 5.25 % Sheraton Louisville Riverside (11) — 10,947,366 Yes 12/1/2026 25 years 4.27 % The Whitehall (12) 14,226,067 14,551,671 None 2/26/2028 25 years PRIME plus 1.25 % Total Mortgage Principal Balance $ 321,895,316 $ 352,625,640 Deferred financing costs, net ( 1,480,779 ) ( 1,547,004 ) Unamortized premium on loan 67,566 92,247 Total Mortgage Loans, Net $ 320,482,103 $ 351,170,883 (1) The note amortizes on a 25 -year schedule after an initial interest-only period of one year and is subject to a pre-payment penalty except for any pre-payments made within 120 days of the maturity date. (2) The note is subject to a pre-payment penalty until March 2024 . Prepayment can be made without penalty thereafter. (3) The note is subject to an exit fee of 0.75 % if prepaid on or after February 5, 2023. On July 15, 2021, we entered into a note modification agreement whereby the maturity date was extended from August 5, 2021 to May 5, 2022 . On April 28, 2022, we entered into an additional note modification agreement whereby the maturity date was extended from May 5, 2022 to May 5, 2023 . (4) The note bears a floating interest rate of 1 -month LIBOR plus 2.27 %, but we entered into a swap agreement to fix the rate at 5.237 % through July 31, 2023 . Under the swap agreement, notional amounts approximate the declining balance of the loan and we are responsible for any potential termination fees associated with early termination of the swap agreement. (5) The DoubleTree by Hilton Raleigh-Brownstone University was sold on June 10, 2022. (6) With limited exception, the note may not be prepaid prior to June 2025 . (7) With limited exception, the note may not be prepaid prior to February 2025 . (8) The note bears a floating interest rate of SOFR plus 2.75 % subject to a floor rate of 2.75 %; with monthly principal payments of $ 40,600 ; the note provides that the mortgage can be extended for two additional periods of one year each, subject to certain conditions. On July 11, 2022, we entered into a swap agreement to fix the rate at 5.576 %. The swap agreement reflects notional amounts approximate to the declining balance of the loan and we are responsible for any potential termination fees associated with early termination of the swap agreement. (9) The note amortizes on a 25 -year schedule after an initial interest-only period of one year and is subject to a pre-payment penalty except for any pre-payments made within 120 days of the maturity date. (10) Following a 5 -year lockout, the note can be prepaid with penalty in years 6 - 10 and without penalty during the final 4 months of the term. (11) The Sheraton Louisville Riverside was sold on February 10, 2022. (12) The note bears a floating interest rate of New York Prime Rate plus 1.25 %, with a floor of 7.50 %. As of December 31, 2022, the Company failed to meet certain financial covenants under the mortgages secured by The Whitehall and the DoubleTree by Hilton Philadelphia Airport. The Company has received waivers of the financial covenants from each lender, through December 31, 2022. In 2023, the mortgages on the Whitehall, the DoubleTree by Hilton Laurel, and the DoubleTree by Hilton Philadelphia Airport mature. We intend to either refinance the mortgages maturing in 2023 at the level of their existing indebtedness or request extensions at existing terms. Total future mortgage debt maturities, including with respect to any extensions of loan maturity, as of December 31, 2022 were as follows: December 31, 2023 53,555,486 December 31, 2024 38,069,572 December 31, 2025 116,084,892 December 31, 2026 58,588,970 December 31, 2027 1,757,220 December 31, 2028 and thereafter 53,839,176 Total future maturities $ 321,895,316 PPP Loans . Between April 16 and May 6, 2020, the Operating Partnership and certain of its subsidiaries received proceeds of three separate PPP Loans administered by the U.S. Small Business Administration pursuant to the CARES Act totaling approximately $ 10.7 million. Each PPP Loan had an initial term of two years with the ability to extend the loan to five years , if not forgiven and carries an interest rate of 1.00 %. Equal payments of principal and interest were to begin no later than 10 months following origination of the loan and are amortized over the remaining term of the loan . Pursuant to the terms of the CARES Act, the proceeds of each PPP Loan may be used for payroll costs, mortgage interest, rent or utility costs. The promissory note for each PPP Loan contains customary events of default relating to, among other things, payment defaults and breach of representations and warranties or of provisions of the relevant promissory note. Under the terms of the CARES Act, each borrower can apply for and be granted forgiveness for all or a portion of the PPP Loan, which is determined, subject to limitations, based on the use of loan proceeds in accordance with the terms of the CARES Act. On December 9, 2022, the Company was notified it had received principal debt forgiveness in the amount of approximately $ 4.6 million. As of December 31, 2022, the Company had two outstanding applications for forgiveness totaling approximately $ 0.6 million. No assurance is provided that the Company will obtain forgiveness under any relevant PPP Loan in whole or in part. As of December 31, 2022 and 2021, the Company had principal balances outstanding which totaled approximately $ 2.5 million and $ 7.6 million, respectively. Secured Notes Financing . On December 31, 2020, we entered into a transaction whereby certain investors purchased $ 20.0 million in Secured Notes from the Operating Partnership. On June 10, 2022, the Company used the proceeds from the sale of the Doubletree by Hilton Raleigh Brownstone-University hotel to partially repay the Secured Notes. The Investors received approximately $ 19.8 million of the proceeds from the sale of the hotel, of which approximately $ 13.3 million was applied toward principal, approximately $ 6.3 million was applied toward the exit fee owed under the Secured Notes, and approximately $ 0.2 million was applied toward accrued interest. Additionally, the terms of the Secured Notes allowed for the release of a portion of the interest reserves in the amount of approximately $ 1.6 million, of which approximately $ 1.1 million was applied toward principal and approximately $ 0.5 million was applied toward the exit fee. On June 29, 2022, the Company used the proceeds from the refinance of the Hotel Alba Tampa, along with approximately $ 0.2 million of cash on hand as well as the balance of the interest reserve under the Secured Notes of approximately $ 0.5 million, to satisfy and pay in full the Secured Notes. The Investors received approximately $ 8.3 million in satisfaction of the Secured Notes, of which approximately $ 5.6 million was applied toward principal, approximately $ 2.6 million was applied toward the exit fee owed under the Secured Notes, and approximately $ 0.1 million was applied toward accrued interest. Concurrent with the cancellation of the Secured Notes, the following agreements were also terminated in accordance with their terms: (i) Note Purchase Agreement; (ii) Pledge and Security Agreement; (iii) Board Observer Agreement; and (iv) other related ancillary agreements.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	6. Commitments and Contingencies Ground, Building and Submerged Land Leases – We lease 2,086 square feet of commercial space next to The DeSoto for use as an office, retail or conference space, or for any related or ancillary purposes for the hotel and/or atrium space. In December 2007, we signed an amendment to the lease to include rights to the outdoor esplanade adjacent to the leased commercial space. The areas are leased under a six-year operating lease, which expired October 31, 2006 and has been renewed for the fourth of five optional five-year renewal periods expiring October 31, 2026 . Rent expense for this operating lease for the years ended December 31, 2022, 2021, and 2020 was $ 83,932 , $ 83,932 and $ 74,809 , respectively. We lease, as landlord, the entire fourteenth floor of the Savannah hotel property to The Chatham Club, Inc. under a ninety-nine- year lease expiring July 31, 2086 . This lease was assumed upon the purchase of the building under the terms and conditions agreed to by the previous owner of the property. No rental income is recognized under the terms of this lease as the original lump sum rent payment of $ 990 was received by the previous owner and not prorated over the life of the lease. We lease land adjacent to the Hotel Alba Tampa, Tapestry Collection by Hilton for use as parking under a five-year renewable agreement with the Florida Department of Transportation that commenced in July 2019 and expires in July 2024 . The agreement requires annual payments of $ 2,432 , plus tax, and may be renewed for an additional five years . Rent expense for each of the years ended December 31, 2022, 2021, and 2020 was $ 2,608 , $ 2,575 and $ 2,604 , respectively. We lease approximately 8,500 square feet of commercial office space in Williamsburg, Virginia under an agreement with a ten-year term beginning January 1, 2020 . The initial annual rent under the agreement is $ 218,875 , with the rent for each successive annual period increasing by 3.0 % over the prior annual period’s rent. The annual rent was offset by a tenant improvement allowance of $ 200,000 , that was applied against one-half of each monthly rent payment until the tenant improvement allowance was exhausted in 2021. Rent expense for the years ended December 31, 2022, 2021, and 2020 was each $ 223,607 . We lease the land underlying all of the Hyatt Centric Arlington hotel pursuant to a ground lease. The ground lease requires us to make rental payments of $ 50,000 per year in base rent and percentage rent equal to 3.5 % of gross room revenue in excess of certain thresholds, as defined in the ground lease agreement. The initial term of the ground lease expires in 2025 . We have exercised our option on the first of five renewal periods of 10 years each. Rent expense for the years ended December 31, 2022, 2021, and 2020 , was $ 501,042 , $ 232,588 and $ 153,019 , respectively. We entered into a 20 -year parking and cabana management agreement for the parking garage and poolside cabanas associated with the Hyde Beach House Resort & Residences. The parking and cabana management agreement, which is treated for accounting purposes as an embedded lease, requires us to make rental payments of $ 270,100 per year in base rent. The initial term of the parking garage and cabana lease expires in 2039 and may be extended for four additional renewal periods of 5 years each. Rent expense for the years ended December 31, 2022, 2021, and 2020 , was $ 271,000 , $ 271,000 and $ 85,166 , respectively. We also lease certain furniture and equipment under financing arrangements expiring by December 2027 . A schedule of minimum future lease payments for the following twelve-month periods is as follows: December 31, 2023 $ 675,927 December 31, 2024 678,300 December 31, 2025 683,348 December 31, 2026 673,413 December 31, 2027 342,503 December 31, 2028 and thereafter 13,512,577 Total $ 16,566,068 Employment Agreements — The Company has entered into various employment contracts with employees that could result in obligations to us in the event of a change in control or termination without cause. Management Agreements – As of December 31, 2022, all ten of our wholly-owned hotels, and our two condominium hotel rental programs, operated under management agreements with Our Town (see Note 9). The management agreements expire on March 31, 2035 and may be extended for up to two additional periods of five years each, subject to the approval of both parties . Each of the individual hotel management agreements may be terminated earlier than the stated term upon the sale of the hotel covered by the respective management agreement, in which case we may incur early termination fees. Franchise Agreements – As of December 31, 2022 , most of our hotels operate under franchise licenses from national hotel companies. Under the franchise agreements, we are required to pay a franchise fee generally between 3.0 % and 5.0 % of room revenues, plus additional fees for marketing, central reservation systems, and other franchisor programs and services that amount to between 3.0 % and 4.0 % of gross revenues from the hotels. The franchise agreements currently expire between October 2024 and March 2038 . Each of our franchise agreements provides for early termination fees in the event the agreement is terminated before the stated term. Restricted Cash Reserves – Each month, we are required to escrow with the lenders on the Hotel Ballast, The DeSoto, the DoubleTree by Hilton Jacksonville Riverfront, the DoubleTree Resort by Hilton Hollywood Beach, the Hyatt Centric Arlington and the Georgian Terrace an amount equal to one-twelfth (1/12) of the annual real estate taxes due for the properties . We are also required by several of our lenders to establish individual property improvement funds to cover the cost of replacing capital assets at our properties. Each month, those contributions equal 4.0 % of gross revenues for the Hotel Ballast, The DeSoto, the DoubleTree by Hilton Jacksonville Riverfront, the DoubleTree Resort by Hilton Hollywood Beach, The Whitehall and the Georgian Terrace and equal 4.0 % of room revenues for the DoubleTree by Hilton Philadelphia Airport and the Hyatt Centric Arlington. ESOP Loan Commitment – The Company’s board of directors approved the ESOP on November 29, 2016, which was adopted by the Company in December 2016 and effective January 1, 2016. The ESOP is a non-contributory defined contribution plan covering all employees of the Company. The ESOP is a leveraged ESOP, meaning the contributed funds are loaned to the ESOP from the Company. The Company entered into a loan agreement with the ESOP on December 29, 2016, pursuant to which the ESOP may borrow up to $ 5.0 million to purchase shares of the Company’s common stock on the open market. Under the loan agreement, the aggregate principal amount outstanding at any time may not exceed $ 5.0 million and the ESOP may borrow additional funds up to that limit in the future, until December 29, 2036. Between January 3, 2017 and February 28, 2017, the Company’s ESOP purchased 682,500 shares of the Company’s common stock of an aggregate cost of $ 4.9 million. Litigation – We are not involved in any material litigation, nor, to our knowledge, is any material litigation threatened against us. We have settled, during the period covered by these financial statements, all significant claims made during the same period. We are involved in routine litigation arising out of the ordinary course of business, all of which we expect to be covered by insurance and we believe it is not reasonably possible such matters will have a material adverse impact on our financial condition or results of operations or cash flows.

Preferred Stock and Units

Preferred Stock and Units	12 Months Ended
	Dec. 31, 2022
Preferred Stock And Units [Abstract]
Preferred Stock and Units	. Preferred Stock and Units Preferred Stock - The Company is authorized to issue up to 11,000,000 shares of preferred stock. The following table sets forth our Cumulative Redeemable Perpetual Preferred Stock by series: Per Number of Shares Quarterly Annum Liquidation Issued and Outstanding as of Distributions Preferred Stock - Series Rate Preference December 31, 2022 December 31, 2021 Per Share Series B Preferred Stock 8.000 % $ 25.00 1,464,100 1,510,000 $ 0.500000 Series C Preferred Stock 7.875 % $ 25.00 1,346,110 1,384,610 $ 0.492188 Series D Preferred Stock 8.250 % $ 25.00 1,163,100 1,165,000 $ 0.515625 The Company is required to pay cumulative cash distributions on the preferred stock at rates in the above table per annum of the $ 25.00 liquidation preference per share. Holders of the Company’s preferred stock are entitled to receive distributions when authorized by the Company’s board of directors out of assets legally available for the payment of distributions. The preferred stock is not redeemable by the holders, has no maturity date and is not convertible into any other security of the Company or its affiliates. In March 2020 the Company deferred the record date for the dividends on the Company’s Series B Preferred Stock, Series C Preferred Stock, and Series D Preferred Stock that were to be paid April 15, 2020. As of December 31, 2022, there are cumulative undeclared preferred dividends, of approximately $ 21.9 million. Preferred Units – The Company is the holder of the Operating Partnership’s preferred partnership units and is entitled to receive distributions when authorized by the general partner of the Operating Partnership out of assets legally available for the payment of distributions. The following table sets forth our Cumulative Redeemable Perpetual Preferred Units by series: Per Number of Units Quarterly Annum Liquidation Issued and Outstanding as of Distributions Preferred Units - Series Rate Preference December 31, 2022 December 31, 2021 Per Unit Series B Preferred Units 8.000 % $ 25.00 1,464,100 1,510,000 $ 0.500000 Series C Preferred Units 7.875 % $ 25.00 1,346,110 1,384,610 $ 0.492188 Series D Preferred Units 8.250 % $ 25.00 1,163,100 1,165,000 $ 0.515625 The Company pays cumulative cash distributions on the preferred units at rates in the above table per annum of the $ 25.00 liquidation preference per unit. The Company, which is the holder of the Operating Partnership’s preferred units is entitled to receive distributions when authorized by the Operating Partnership’s general partner out of assets legally available for the payment of distributions. The preferred units are not redeemable by the holder, have no maturity date and are not convertible into any other security of the Operating Partnership or its affiliates. In March 2020 the Company deferred the record dates for the dividends on the Operating Partnership’s Series B Preferred Units, Series C Preferred Units, and Series D Preferred Units that were to be paid April 15, 2020. As of December 31, 2022 , there are cumulative undeclared preferred distributions to the Company from the Operating Partnership of approximately $ 21.9 million. The following table presents the quarterly distributions by the Operating Partnership declared and payable per December 31, 2022, 2021, and 2020: Quarter Ended 2020 2021 2022 March 31, $ 0.500000 $ - $ - June 30, - - - September 30, - - - December 31, - - - The following table presents the quarterly distributions by the Operating Partnership declared and payable per Series C Preferred Unit and dividends by the Company declared and payable per share of Series C Preferred Stock, for the years ended December 31, 2022, 2021, and 2020: Quarter Ended 2020 2021 2022 March 31, $ 0.492188 $ - $ - June 30, - - - September 30, - - - December 31, - - - The following table presents the quarterly distributions by the Operating Partnership declared and payable per Series D Preferred Unit and dividends by the Company declared and payable per share of Series D Preferred Stock, for the years ended December 31, 2022, 2021, and 2020: Quarter Ended 2020 2021 2022 March 31, $ 0.515625 $ - $ - June 30, - - - September 30, - - - December 31, - - -

Common Stock and Units

Common Stock and Units	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
Common Stock and Units	8. Common Stock and Units Common Stock – The Company is authorized to issue up to 69,000,000 shares of common stock, $ 0.01 par value per share. Each outstanding share of common stock entitles the holder to one vote on all matters submitted to a vote of stockholders. Holders of the Company’s common stock are entitled to receive distributions when authorized by the Company’s board of directors out of assets legally available for the payment of distributions. The following is a list of issuances during the years ended December 31, 2022, 2021, and 2020 of the Company’s common stock: On November 1, 2022, one holder of units in the Operating Partnership converted 217,845 units for an equivalent number of shares in the Company’s common stock. On August 23, 2022, we entered into a privately-negotiated share exchange agreement. Pursuant to the share exchange agreement, the Company agreed to exchange 13,000 shares of the Company's Series B Preferred Stock and 3,200 shares of the Company's Series C Preferred Stock, together with all of the holder’s rights to receive accrued and unpaid dividends on those preferred shares, for 140,130 shares of the Company's common stock. We closed the transaction and issued the common stock on August 24, 2022. On August 18, 2022, we entered into a privately-negotiated share exchange agreement. Pursuant to the share exchange agreement, the Company agreed to exchange 11,000 shares of the Company's Series B Preferred Stock, 7,100 shares of the Company's Series C Preferred Stock, and 1,900 shares of the Company's Series D Preferred Stock, together with all of the holder’s rights to receive accrued and unpaid dividends on those preferred shares, for 178,800 shares of the Company's common stock. We closed the transaction and issued the common stock on August 18, 2022. On July 21, 2022, the Company was issued 167,390 units in the Operating Partnership and awarded an equivalent number of shares of unrestricted stock to its employees. On July 1, 2022, one holder of units in the Operating Partnership converted 40,687 units for an equivalent number of shares in the Company’s common stock. On May 23, 2022, the Company was issued 37,428 units in the Operating Partnership and awarded an equivalent number of shares of unrestricted stock to its employees. On May 19, 2022, one holder of units in the Operating Partnership converted 50,000 units for an equivalent number of shares in the Company’ s common stock. On April 19, 2022, we entered into a privately-negotiated share exchange agreement. Pursuant to the share exchange agreement, the Company agreed to exchange 5,000 shares of the Company's Series B Preferred Stock and 10,600 shares of the Company's Series C Preferred Stock, together with all of the holder’s rights to receive accrued and unpaid dividends on those preferred shares, for 153,504 shares of the Company's common stock. We closed the transaction and issued the common stock on April 19, 2022. On April 11, 2022, we entered into a privately-negotiated share exchange agreement. Pursuant to the share exchange agreement, the Company agreed to exchange 4,000 shares of the Company's Series B Preferred Stock and 8,000 shares of the Company's Series C Preferred Stock, together with all of the holder’s rights to receive accrued and unpaid dividends on those preferred shares, for 116,640 shares of the Company's common stock. We closed the transaction and issued the common stock on April 12, 2022. On March 31, 20 22, we entered into a privately-negotiated share exchange agreement. Pursuant to the share exchange agreement, the Company agreed to exchange 5,900 shares of the Company’s Series B Preferred Stock and 6,600 shares of the Company’s Series C Preferred Stock, together with all of the rights to receive accrued and unpaid dividends on those preferred shares, for 120,875 shares of the Company’s common stock. We closed the transaction and issued the common stock on March 31, 2022. On March 24, 2022, we entered into a privately-negotiated share exchange agreement. Pursuant to the share exchange agreement, the Company agreed to exchange 7,000 shares of the Company’s Series B Preferred Stock and 3,000 shares of the Company’s Series C Preferred Stock, together with all of the rights to receive accrued and unpaid dividends on those preferred shares, for 96,900 shares of the Company’s common stock. We closed the transaction and issued the common stock on March 25, 2022. On January 21, 2022, the Company was issued 15,000 units in the Operating Partnership and awarded an equivalent number of shares of restricted stock to its independent directors. On January 21, 2022 and February 15, 2022, the Company was issued a total of 175,268 units in the Operating Partnership and awarded an equivalent number of shares of unrestricted stock to its employees. On December 16, 2021, one holder of units in the Operating Partnership redeemed 32,681 units for an equivalent number of shares in the Company’s common stock. On December 9, 2021, we entered into a privately-negotiated share exchange agreement. Pursuant to the share exchange agreement, the Company agreed to exchange 75,000 shares of the Company’s Series C Preferred Stock, together with all of the rights to receive accrued and unpaid dividends on those preferred shares, for 620,919 shares of the Company’s common stock. We closed the transaction and issued the common stock on December 9, 2021. On December 3, 2021, we entered into a privately-negotiated share exchange agreement. Pursuant to the share exchange agreement, the Company agreed to exchange 10,000 shares of the Company’s Series C Preferred Stock, together with all of the rights to receive accrued and unpaid dividends on those preferred shares, for 69,500 shares of the Company’s common stock. We closed the transaction and issued the common stock on December 9, 2021. On June 21, 2021, we entered into a privately-negotiated share exchange agreement. Pursuant to the share exchange agreement, the Company agreed to exchange 100,000 shares of the Company’s Series B Preferred Stock, 85,000 shares of the Company’s Series C Preferred Stock, and 35,000 shares of the Company’s Series D Preferred Stock, together with all of the rights to receive accrued and unpaid dividends on those preferred shares, for 1,542,727 shares of the Company’s common stock. We closed the transaction and issued the common stock on June 22, 2021. On February 4, 2021, one holder of units in the Operating Partnership redeemed 100 units for an equivalent number of shares in the Company’s common stock. On February 4, 2021, the Company was issued 136,281 units in the Operating Partnership and awarded shares of unrestricted stock to its employees. On February 4, 2021, the Company was issued 15,000 units in the Operating Partnership and awarded shares of restricted stock to its independent directors. On December 17, 2020, The Company issued 127,583 units in the Operating Partnership and awarded shares of restricted stock to its independent directors and employees. On December 1, 2020, one holder of units in the Operating Partnership redeemed 15,000 units for an equivalent number of shares in the Company’s common stock. On May 1, 2020, one holder of units in the Operating Partnership redeemed 57,687 units for an equivalent number of shares in the Company’s common stock. On February 23, 2020, the Company was issued 17,250 units in the Operating Partnership and awarded 15,000 shares of restricted stock and 2,250 shares of unrestricted stock to its independent directors. On January 1, 2020, two holders of units in the Operating Partnership redeemed 488,952 units for an equivalent number of shares in the Company’s common stock. On January 1, 2020, the Company was issued 45,000 units in the Operating Partnership and awarded 45,000 shares of restricted stock to two of its employees. As of December 31, 2022 and 2021 , the Company had 18,951,525 and 17,441,058 shares of common stock outstanding, respectively. Operating Partnership Units – Holders of Operating Partnership units, other than the Company as general partner, have certain redemption rights, which enable them to cause the Operating Partnership to redeem their units in exchange for shares of the Company’s common stock on a one -for-one basis or, at the option of the Company, cash per unit equal to the average of the market price of the Company’s common stock for the 10 trading days immediately preceding the notice date of such redemption. The number of shares issuable upon exercise of the redemption rights will be adjusted upon the occurrence of stock splits, mergers, consolidations or similar pro-rata share transactions, which otherwise would have the effect of diluting the ownership interests of the limited partners or the stockholders of the Company. Since January 1, 2020, there have been no issuances or redemptions, of units in the Operating Partnership other than the issuances of units in the Operating Partnership to the Company described above. As of December 31, 2022 and 2021 , the total number of Operating Partnership units outstanding was 19,776,713 and 18,574,778 , respectively. As of December 31, 2022 and 2021, the total number of outstanding units in the Operating Partnership not owned by the Company was 825,188 and 1,133,720 , respectively, with a fair market value of approximately $ 1.5 million and approximately $ 2.4 million, respectively, based on the price per share of the common stock on such respective dates. Common Stock Dividends and Unit Distributions – The following table presents the quarterly stock dividends and unit distributions by us declared and payable per common stock/unit for the years ended December 31, 2022, 2021, and 2020: Quarter Ended 2020 2021 2022 March 31, $ 0.130 $ - $ - June 30, - - - September 30, - - - December 31, - - - As of December 31, 2022 , there were unpaid common dividends and distributions to holders of record as of March 13, 2020 in the amount of $ 2,088,160 .

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2022
Related Party Transactions [Abstract]
Related Party Transactions	9. Related Party Transactions Our Town Hospitality. Our Town is currently the management company for each of our ten wholly-owned hotels, as well as the manager of our rental programs at the Hyde Resort & Residences and the Hyde Beach House Resort & Residences. As of December 31, 2022, an affiliate of Andrew M. Sims, our Chairman, an affiliate of David R. Folsom, our President and Chief Executive Officer, and Andrew M. Sims Jr., our Vice President - Operations & Investor Relations, beneficially owned approximately 63.0 %, 7.0 %, a nd 15.0 %, respectively, of the total outstanding ownership interests of Our Town. Mr. Sims, Mr. Folsom, and Mr. Sims Jr. serve as directors of Our Town. The following is a summary of the transactions between Our Town and us: Accounts Receivable – At December 31, 2022 and 2021 , we were due approximately $ 0.3 million and $ 0.2 million, respectively, from Our Town Hospitality. Accounts Payable – At December 31, 2022 and 2021 , we owed Our Town approximately $ 1.3 million and $ 1.0 million, respectively. Management Agreements – On September 6, 2019, we entered into a master agreement with Our Town related to the management of certain of our hotels, as amended on December 13, 2019 (as amended, the “OTH Master Agreement”). On December 13, 2019, and subsequent dates we entered into a series of individual hotel management agreements for the management of our hotels. The hotel management agreements for each of our ten wholly-owned hotels and the two rental programs are each referred to as an “OTH Hotel Management Agreement” and, together, the “OTH Hotel Management Agreements”. The Company agreed to provide Our Town with initial working capital of up to $ 1.0 million as an advance on the management fees that we will owe to Our Town under the OTH Hotel Management Agreements. The advanced funds were to be offset against future management fees otherwise payable to Our Town by means of a 25 % reduction in such fees each month during 2020. In addition, the OTH Master Agreement provides for an adjustment to the fees payable by us under the OTH Hotel Management Agreements in the event the net operating income of Our Town falls below $ 250,000 for any calendar year beginning on or after January 1, 2021. The OTH Master Agreement expires on March 31, 2035 but shall be extended beyond 2035 for such additional periods as an OTH Hotel Management Agreement remains in effect. The base management fees for each hotel under management with Our Town is 2.50 %. For any new individual hotel management agreements, Our Town will receive a base management fee of 2.00 % of gross revenues for the first full year from the commencement date through the anniversary date, 2.25 % of gross revenues the second full year, and 2.50 % of gross revenues for every year thereafter. For the years ended December 31, 2022 and 2021, the base management fees earned by Our Town under the contract were approximately $ 4.1 million and $ 3.4 million, respectively, and the incentive management fees earned by Our Town were approximately $ 0.3 million and $ 0.3 million, respectively. We also paid Our Town approximately $ 0.3 million in termination fees in 2022 triggered by the sale of the Sheraton Louisville Riverside and DoubleTree by Hilton Raleigh-Brownstone University . Sublease – On December 13, 2019, we entered into a sublease agreement with Our Town pursuant to which Our Town subleases 2,245 square feet of office space from Sotherly for a period of 5 years, with a 5 -year renewal subject to approval by Sotherly, on terms and conditions similar to the terms of the prime lease entered into by Sotherly and the third-party owner of the property . For the years ended December 31, 2022 and 2021 , the Company received rent income from Our Town of $ 159,734 and $ 144,452 , respectively. Credit Agreement – On December 13, 2019, we entered into a credit agreement with Our Town effective January 1, 2020, pursuant to which Sotherly agreed to provide Our Town with a working capital line of credit. The original agreement allowed Our Town to borrow up to $ 500,000 . Our Town was allowed to draw against the line of credit from time to time prior to January 1, 2021. The credit agreement was amended by the parties on June 4, 2021 such that (i) the maximum amount of credit available is capped at $ 894,900 ; (ii) the total amount of advances, as of June 4, 2021, was agreed to be $ 894,900 ; (iii) no additional advances are permitted; (iv) principal payments are required to be made by the borrower in the amount of $ 100,000 on each of December 31, 2021 through 2025; (v) the maturity date was extended to December 31, 2026 ; and (vi) the aggregate unpaid principal amount and another other obligations are required to be paid at maturity. In addition, an affiliate of Mr. Sims entered into a conditional financing commitment with Our Town to provide funding to permit repayment of the loan in the event the principal balance of the loan made to Our Town under the credit agreement has not been repaid prior to maturity and Sotherly declines to extend the maturity date. Interest accrued on the outstanding balance at 3.5 % per annum and was payable quarterly in arrears. In the event of a default under the credit agreement, the Company had the right to offset any outstanding unpaid balance against amounts it owed to Our Town under the OTH Hotel Management Agreements. On June 4, 2021, the OTH Master Agreement and the related credit agreement were amended to provide for an increase in the balance outstanding under the credit agreement of $ 299,900 in satisfaction for an equivalent portion of unrepaid management fee advances and to provide for a guaranteed minimum incentive management fee of $ 250,000 for calendar year 2021 in satisfaction of the remainder of unrepaid management fee advances. On December 20, 2021, the Company received full payment on the credit agreement and was no longer available for use by Our Town. Employee Medical Benefits – We purchase employee medical benefits through Our Town (or its affiliate) for those employees that are employed by Our Town that work exclusively for our properties, starting January 1, 2020. For the years ended December 31, 2022 and 2021, the employer portion of the plan covering those employees that work exclusively at our properties under our management agreements with Our Town was approximately $ 3.2 million and $ 2.7 million, respectively. Chesapeake Hospitality. Chesapeake Hospitality was a company owned and controlled by individuals including Kim E. Sims and Christopher L. Sims, each a former director of Sotherly and a sibling of our Chairman, Andrew M. Sims. Prior to November 2019, Andrew M. Sims, owned approximately 19.3 % of the total outstanding ownership interests of Chesapeake Hospitality, all of which have since been sold. The following is a summary of the transactions between Chesapeake Hospitality and us: Management Agreements – Chesapeake Hospitality was the management company for our DoubleTree Resort by Hilton Hollywood Beach hotel, the Hyde Resort & Residences, and the Hyde Beach House Resort & Residences until April 1, 2020. Effective April 1, 2020 , Chesapeake no longer serves as manager for any of our properties and management of the remaining properties that had been managed by Chesapeake was transitioned to Our Town. Upon termination of the last remaining individual hotel management agreements with Chesapeake, the Chesapeake master agreement automatically terminated in accordance with its terms. Prior to January 1, 2020, Chesapeake Hospitality was the manager for each of our hotels that we wholly-owned, with the exception of the Hyatt Centric Arlington, under various hotel management agreements. On January 1, 2020 , the management agreements for ten of our wholly-owned hotels expired. Those hotels are now managed by Our Town as described above. In connection with the termination of those ten Chesapeake management agreements, we paid approximately $ 0.2 million in termination fees. Base management fees earned by Chesapeake Hospitality totaled $ 0 , $ 0 and $ 241,332 for the years ended December 31, 2022, 2021, and 2020 , respectively. In addition, incentive management fees of $ 0 , $ 0 and $( 40,375 ) were expensed for the years ended December 31, 2022, 2021, and 2020, respectively. Other Related Parties – The Company employs Andrew M. Sims, Jr. the son of our Chairman, who currently serves as Vice President – Operations & Investor Relations, and Robert E. Kirkland IV, the son-in-law of our Chairman, who currently serves as General Counsel, as employees. Prior to February 1, 2022, the Company employed Ashley S. Kirkland, daughter of our Chairman, as Corporate Counsel and Compliance Officer. Compensation for these three employees, including benefits, for the years ended December 31, 2022, 2021, and 2020 totaled $ 605,163 , $ 462,809 and $ 464,218 , respectively. On July 1, 2022, a partnership controlled by a sibling of our Chairman converted 40,687 partnership units for an equivalent number of shares in the Company’s common stock, pursuant to the terms of the partnership agreement. On May 19, 2022, a trust in which our Chairman has a potential beneficial interest converted 50,000 partnership units for an equivalent number of shares in the Company’s common stock, pursuant to the terms of the partnership agreement. On December 16, 2021, a trust controlled in part by our Chairman converted 32,681 partnership units for an equivalent number of shares of the Company’s common stock, pursuant to the terms of the partnership agreement. On May 1, 2020, a partnership controlled by a sibling of our Chairman converted 57,867 partnership units, for an equivalent number of shares of the Company’s common stock, pursuant to the terms of the partnership agreement. On January 1, 2020, a partnership controlled by a sibling of our Chairman converted 410,000 partnership units for an equivalent number of shares of the Company’s common stock, pursuant to the terms of the partnership agreement.

Retirement Plans

Retirement Plans	12 Months Ended
	Dec. 31, 2022
Retirement Benefits [Abstract]
Retirement Plans	. Retirement Plans 401(k) Plan - The Company maintains a 401(k) plan for qualified employees. Prior to May 16, 2020, the plan was subject to “safe harbor” provisions requiring that we match 100.0 % of the deferral equal to 3.0 % of eligible employee compensation and 50.0 % of the deferral equal to the next 2.0 % of eligible employee compensation. All employer matching funds vested immediately in accordance with the “safe harbor” provisions. For the year ended December 31, 2021, the Company elected to make a discretionary contribution of 3.0 % of eligible employee compensation in order to comply with requirements associated with top-heavy plans. The Company's contributions to the plan for the years ended December 31, 2022, 2021, and 2020 were $ 75,631 , $ 53,474 and $ 42,841 , respectively. Employee Stock Ownership Plan - The Company adopted an ESOP effective January 1, 2016, which is a non-contributory defined contribution plan covering all employees of the Company. The ESOP is a leveraged ESOP, with funds loaned to the ESOP from the Company. The Company entered into a loan agreement with the ESOP on December 29, 2016, pursuant to which the ESOP may maintain aggregate borrowings of up to $ 5.0 million to purchase shares of the Company’s common stock on the open market, which serve as collateral for the loan. Coincident with the loan between the Company and the ESOP, the Operating Partnership entered into a loan with the Company to facilitate borrowings between the Company and the ESOP. Between January 3, 2017 and February 28, 2017, the Company’s ESOP purchased 682,500 shares of the Company’s common stock of an aggregate cost of approximately $ 4.9 million. Shares purchased by the ESOP are held in a suspense account for allocation among participants as contributions are made to the ESOP by the Company. The share allocations are accounted for at fair value on the date of allocation. A total of 301,646 and 247,606 shares with a fair value of $ 545,979 and $ 517,496 remained allocated or committed to be released from the suspense account as of December 31, 2022 and 2021 , respectively. The Company recognized compensation cost of $ 140,703 , $ 172,000 and $ 175,367 during the twelve months ended December 31, 2022, 2021 and 2020, respectively. The remaining 364,177 unallocated shares have an approximate fair value of $ 0.7 million, as of December 31, 2022. At December 31, 2022 , the ESOP held a total of 301,646 allocated shares, no committed-to-be-released shares and 364,177 unallocated shares. Dividends received by the ESOP on allocated and unallocated shares are used to pay down the loan from the Company. The share allocations are accounted for at fair value on the date of allocation as follows: December 31, 2022 December 31, 2021 Number of Shares Fair Value Number of Shares Fair Value Allocated shares 301,646 $ 545,979 247,606 $ 517,496 Committed to be released shares — — — — Total Allocated and Committed-to-be-Released 301,646 $ 545,979 247,606 $ 517,496 Unallocated shares 364,177 659,160 431,697 902,247 Total ESOP Shares 665,823 $ 1,205,139 679,303 $ 1,419,743

Indirect Hotel Operating Expens

Indirect Hotel Operating Expenses	12 Months Ended
	Dec. 31, 2022
Other Income and Expenses [Abstract]
Indirect Hotel Operating Expenses	11. Indirect Hotel Operating Expenses Indirect hotel operating expenses consists of the following expenses incurred by the hotels: 2022 2021 2020 Sales and marketing $ 15,062,397 $ 11,684,933 $ 8,094,085 General and administrative 13,436,054 10,533,201 10,542,495 Repairs and maintenance 8,723,144 7,362,334 5,490,145 Utilities 5,649,716 5,309,637 4,817,508 Property taxes 5,254,075 6,131,271 7,014,472 Management fees, including incentive 4,377,814 3,620,071 1,822,359 Franchise fees 4,059,709 3,321,352 2,042,902 Insurance 4,082,551 3,596,153 3,097,245 Information and telecommunications 3,378,716 3,048,495 2,271,266 Other 787,391 492,798 294,831 Total indirect hotel operating expenses $ 64,811,567 $ 55,100,245 $ 45,487,308

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	12. Income Taxes The components of the provision for income taxes for the years ended December 31, 2022, 2021, and 2020 are as follows: Year Ended Year Ended Year Ended December 31, 2022 December 31, 2021 December 31, 2020 Current: Federal $ — $ — $ ( 125,587 ) State 522,355 27,392 ( 6,054 ) 522,355 27,392 ( 131,641 ) Deferred: Federal 3,025,518 ( 149,704 ) ( 7,576,931 ) State 695,708 ( 38,580 ) ( 1,705,939 ) Subtotals 3,721,226 ( 188,284 ) ( 9,282,870 ) Change in deferred tax valuation allowance ( 3,721,226 ) 188,284 14,694,954 — — 5,412,084 $ 522,355 $ 27,392 $ 5,280,443 A reconciliation of the statutory federal income tax provision (benefit) to the Company’s provision for income tax is as follows: Year Ended Year Ended Year Ended December 31, 2022 December 31, 2021 December 31, 2020 Statutory federal income tax provision (benefit) $ 7,241,263 $ ( 5,987,572 ) $ ( 10,164,517 ) Federal tax impact of REIT election ( 3,255,236 ) 5,851,466 2,530,482 Statutory federal income tax provision (benefit) at TRS 3,986,027 ( 136,106 ) ( 7,634,035 ) Federal impact of PPP loan forgiveness ( 966,584 ) — — State income tax provision (benefit), net of federal provision (benefit) 1,224,138 ( 24,786 ) ( 1,780,476 ) Change in valuation allowance ( 3,721,226 ) 188,284 14,694,954 $ 522,355 $ 27,392 $ 5,280,443 Deferred income taxes are recognized for temporary differences between the financial reporting bases of asset and liabilities and their respective tax bases and for operating losses and tax credit carryforwards based on enacted tax rates expected to be in effect when such amounts are realized. However, deferred tax assets are recognized only to the extent that it is more likely than not that they will be realizable based on consideration of available evidence, including future reversal of taxable temporary differences, projected taxable income and tax planning strategies. Due to the economic uncertainty the COVID-19 pandemic has produced upon tax-planning strategies and projections for future taxable income over the periods in which the deferred tax assets are realizable, as of December 31, 2022, the Company believes is not more likely than not that the Company will realize the benefits of these assets. Therefore, the Company has determined that a full valuation allowance should be recorded against the deferred tax asset. The amount of the deferred tax assets considered unrealizable, however, could change in the future based on revised estimates of future taxable income during the carryforward period. The significant components of our deferred tax asset as of December 31, 2022 and 2021, are as follows: Year Ended Year Ended Year Ended December 31, 2022 December 31, 2021 December 31, 2020 Deferred tax asset: Net operating loss carryforwards $ 10,744,121 $ 14,287,318 $ 14,409,321 Accrued compensation 425,575 338,033 108,646 Accrued expenses and other — 247,037 128,318 Intangible assets 10,092 28,627 48,670 Less: Valuation allowance ( 11,179,788 ) ( 14,901,015 ) ( 14,694,955 ) Total $ — $ — $ —

Earnings (Loss) per Share and p

Earnings (Loss) per Share and per Unit	12 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
Earnings (Loss) per Share and per Unit	13. Earnings (Loss) per Share and per Unit Earnings (Loss) Per Share . The limited partners’ outstanding limited partnership units in the Operating Partnership (which may be redeemed for common stock upon notice from the limited partner and following our election to redeem the units for stock rather than cash) have been excluded from the diluted earnings per share calculation as there would be no effect on the amounts since the limited partners’ share of income would also be added back to net loss. The shares of the Series B Preferred Stock, Series C Preferred Stock, and Series D Preferred Stock are not convertible into or exchangeable for any other property or securities of the Company, except upon the occurrence of a change of control and have been excluded from the diluted earnings per share calculation as there would be no impact on the current controlling stockholders. The 364,177 , 431,697 and 509,069 non-committed, unearned ESOP shares are treated as reducing the number of issued and outstanding common shares and similarly reducing the weighted average number of common shares outstanding, for the years ended December 31, 2022, 2021 and 2020, respectively. The effect of allocated and committed to be released shares during the years ended December 31, 2021 and 2020, have not been included in the weighted average diluted earnings per share calculation, since there would be an anti-dilutive effect from the dilution by these shares, although the amount of compensation for allocated shares is reflected in net loss available to common stockholders for basic computation. The computation of the Company’s basic net earnings (loss) per share is presented below: Twelve Months Ended Twelve Months Ended Twelve Months Ended December 31, 2022 December 31, 2021 December 31, 2020 Numerator Net income (loss) $ 33,959,848 $ ( 28,539,640 ) $ ( 53,682,905 ) Less: Net income allocated to participating share awards ( 113,405 ) — (1) — (1) Net (income) loss attributable to non-controlling interest ( 1,423,327 ) 2,318,166 4,489,341 Declared and undeclared distributions to preferred stockholders ( 7,634,219 ) ( 7,541,891 ) ( 8,755,642 ) Gain on extinguishment of preferred stock 64,518 361,476 — Net income (loss) attributable to common stockholders for EPS computation $ 24,853,415 $ ( 33,401,889 ) $ ( 57,949,206 ) Denominator Weighted average number common shares outstanding for basic EPS computation 17,802,772 15,531,684 14,312,049 Effect of dilutive participating securities: Unvested restricted shares — (1) — (1) — (1) Weighted average number common and common equivalent shares outstanding for diluted EPS computation 17,802,772 15,531,684 14,312,049 Basic net income (loss) per common share: Undistributed income (loss) $ 1.40 $ ( 2.15 ) $ ( 4.05 ) Total basic $ 1.40 $ ( 2.15 ) $ ( 4.05 ) Diluted net income (loss) per common share: Undistributed income (loss) $ 1.40 $ ( 2.15 ) $ ( 4.05 ) Allocation of participating share awards — (1) — (1) — (1) Total diluted $ 1.40 $ ( 2.15 ) $ ( 4.05 ) (1) Anti-dilutive, therefore not included. Earnings (Loss) Per Unit . The Series B Preferred Units, Series C Preferred Units, and Series D Preferred Units are not convertible into or exchangeable for any other property or securities of the Operating Partnership, except upon the occurrence of a change of control and have been excluded from the diluted earnings per unit calculation as there would be no impact on the current unitholders. The number of non-committed, unearned shares in the Company’s ESOP have no impact on the calculation of the loss per unit in the Operating Partnership. The computation of basic earnings (loss) per general and limited partnership unit in the Operating Partnership is presented below: Twelve Months Ended Twelve Months Ended Twelve Months Ended December 31, 2022 December 31, 2021 December 31, 2020 Numerator Net income (loss) $ 33,959,848 $ ( 28,539,640 ) $ ( 53,682,905 ) Less: Net income allocated to participating unit awards ( 113,405 ) — (1) — (1) Declared and undeclared distributions to preferred unitholders ( 7,634,219 ) ( 7,541,891 ) ( 8,755,642 ) Gain on extinguishment of preferred units 64,518 361,476 — Net income (loss) attributable to unitholders for EPU computation $ 26,276,742 $ ( 35,720,055 ) $ ( 62,438,547 ) Denominator Weighted average number of units outstanding for basic EPU computation 19,266,320 17,186,789 16,065,499 Effect of dilutive participating securities: Unvested restricted units — (1) — (1) — (1) Weighted average number of equivalent units outstanding for diluted EPU computation 19,266,320 17,186,789 16,065,499 Basic net income (loss) per unit: Undistributed income (loss) $ 1.36 $ ( 2.08 ) $ ( 3.89 ) Total basic $ 1.36 $ ( 2.08 ) $ ( 3.89 ) Diluted net income (loss) per unit: Undistributed income (loss) $ 1.36 $ ( 2.08 ) $ ( 3.89 ) Allocation of participating unit awards — (1) — (1) — (1) Total diluted $ 1.36 $ ( 2.08 ) $ ( 3.89 ) (1) Anti-dilutive, therefore not included.

Quarterly Operating Results - U

Quarterly Operating Results - Unaudited	12 Months Ended
	Dec. 31, 2022
Quarterly Financial Information Disclosure [Abstract]
Quarterly Operating Results - Unaudited	14. Quarterly Operating Results - Unaudited Quarters Ended 2022 March 31 June 30 September 30 December 31 Total revenue $ 38,352,603 $ 47,170,259 $ 39,212,695 $ 41,341,747 Total operating expenses 34,427,399 38,970,971 35,923,699 36,200,422 Net operating income 3,925,204 8,199,288 3,288,996 5,141,325 Net income (loss) ( 810,944 ) 27,605,359 1,972,563 5,192,870 Net income (loss) attributable to common shareholders ( 2,507,765 ) 24,269,449 112,680 3,092,456 Income (loss) per share attributable to common $ ( 0.15 ) $ 1.36 $ 0.01 $ 0.18 Income (loss) per share attributable to common $ ( 0.15 ) $ 1.36 $ 0.01 $ 0.18 Net income (loss) available to operating partnership unitholders ( 2,669,386 ) 25,799,389 61,586 3,198,559 Income (loss) per unit attributable to operating partnership unitholders– basic $ ( 0.14 ) $ 1.33 $ 0.00 $ 0.17 Income (loss) per unit attributable to operating partnership unitholders– diluted $ ( 0.14 ) $ 1.33 $ 0.00 $ 0.17 Quarters Ended 2021 March 31 June 30 September 30 December 31 Total revenue $ 22,635,532 $ 34,383,309 $ 35,493,126 $ 35,075,957 Total operating expenses 24,717,808 31,240,158 32,706,524 46,978,440 Net operating income (loss) ( 2,082,276 ) 3,143,151 2,786,602 ( 11,902,483 ) Net loss ( 7,575,624 ) ( 1,553,970 ) ( 2,528,221 ) ( 16,881,825 ) Net loss attributable to common shareholders ( 9,064,995 ) ( 2,810,603 ) ( 4,317,081 ) ( 17,209,210 ) Loss per share attributable to common shareholders– basic and diluted $ ( 0.62 ) $ ( 0.19 ) $ ( 0.27 ) $ ( 1.05 ) Net loss available to operating partnership unitholders ( 9,764,534 ) ( 2,990,241 ) ( 4,607,249 ) ( 18,358,031 ) Loss per unit attributable to operating partnership unitholders– basic and diluted $ ( 0.60 ) $ ( 0.18 ) $ ( 0.26 ) $ ( 1.02 )

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2022
Subsequent Events [Abstract]
Subsequent Events	15. Subsequent Events On February 3, 2023, the SBA notified the Company that it had received partial forgiveness for one of its PPP Loans in the amount of $ 268,309 . On January 12, 2023, the Company issued 15,000 restricted shares of common stock to its independent directors and 64,278 vested shares of common stock to its independent directors and one officer. On January 23, 2023, the Company issued 205,000 restricted shares of common stock to certain its officers and employees pursuant to their employment agreements. On January 27, 2023, the Company amended one of its two PPP Loan Agreement with Fifth Third Bank providing for monthly level payments of $ 13,402 commencing March 6, 2023 and continuing until May 6, 2025 to extinguish the outstanding balance of the loan. On February 9, 2023, the Company amended another of its PPP Loan Agreements providing for 29 monthly level payments of $ 56,809 commencing March 1, 2023 and continuing until July 1, 2025 to extinguish the outstanding balance of the loan. On February 26, 2023, the Company entered into amended loan documents to modify the mortgage loan on The Whitehall hotel located in Houston, TX with the lender, International Bank of Commerce. The amendment (i) extends the maturity date to February 26, 2028 ; (ii) maintains a floating interest rate of New York Prime Rate plus 1.25 %; and (iii) subjects the interest rate to a floor rate of 7.50 %. The mortgage loan continues to be guaranteed by the Operating Partnership. On March 14, 2023, the Company entered into amended loan documents to modify the mortgage loan on the DoubleTree by Hilton Philadelphia Airport with the lender, TD Bank, N.A. The amendment provides a waiver for non-compliance with financial covenants for the periods ended September 30 and December 31, 2022, and modifies the reference rate replacing 1-month LIBOR with SOFR. On March 15, 2023, the Company paid a quarterly dividend (distribution) of $ 0.50 per Series B Preferred Stock (and unit) to the preferred stockholders (and unitholders of the Operating Partnership) of record on February 28, 2023. On March 15, 2023, the Company paid a quarterly dividend (distribution) of $ 0.492188 per Series C Preferred Stock (and unit) to the preferred stockholders (and unitholders of the Operating Partnership) of record on February 28, 2023. On March 15, 2023, the Company paid a quarterly dividend (distribution) of $ 0.515625 per Series D Preferred Stock (and unit) to the preferred stockholders (and unitholders of the Operating Partnership) of record on February 28, 2023.

Schedule III - Real Estate and

Schedule III - Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2022
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
Schedule III - Real Estate and Accumulated Depreciation	SOTHERLY HOTELS INC. SOTHERLY HOTELS LP SCHEDULE III—REAL ESTATE AN D ACCUMULATED DEPRECIATION AS OF DECEMBER 31, 2022 (in thousands) Costs Capitalized Life on Initial Costs Subsequent to Acquisition Gross Amount At End of Year Accumulated Which Building & Building & Building & Depreciation Date of Date Depreciation Description Encumbrances Land Improvements Land Improvements Land Improvements Total & Impairment Construction Acquired is Computed The DeSoto – Savannah, Georgia $ 31,219 $ 600 $ 13,562 $ 865 $ 21,368 $ 1,465 $ 34,930 $ 36,395 $ ( 15,471 ) 1968 2004 3 - 39 years DoubleTree by Hilton Jacksonville 32,416 7,090 14,604 520 7,610 7,610 22,214 29,824 ( 10,316 ) 1970 2005 3 - 39 years DoubleTree by Hilton Laurel – Laurel, 7,412 900 9,443 71 5,900 971 15,343 16,314 ( 6,935 ) 1985 2004 3 - 39 years DoubleTree by Hilton Philadelphia 39,414 2,100 22,031 435 7,168 2,535 29,199 31,734 ( 13,830 ) 1972 2004 3 - 39 years DoubleTree Resort by Hilton 52,724 22,865 67,660 634 9,107 23,499 76,767 100,266 ( 15,696 ) 1972 2015 3 - 39 years Georgian Terrace – Atlanta, Georgia 40,493 10,128 45,386 ( 1,168 ) 9,307 8,960 54,693 63,653 ( 12,982 ) 1911 2014 3 - 39 years Hotel Alba Tampa, Tapestry Collection 24,756 4,153 9,670 1,777 26,026 5,930 35,696 41,626 ( 12,983 ) 1973 2007 3 - 39 years Hotel Ballast Wilmington, 31,700 785 16,829 1,139 15,248 1,924 32,077 34,001 ( 16,319 ) 1970 2004 3 - 39 years Hyatt Centric Arlington - Arlington, 47,535 191 70,369 79 1,792 270 72,161 72,431 ( 9,032 ) 2018 3 - 39 years The Whitehall – Houston, Texas 14,226 7,374 22,185 171 7,453 7,545 29,638 37,183 ( 15,615 ) 1963 2013 3 - 39 years Hyde Resort & Residences - 226 4,290 - - 226 4,290 4,516 ( 651 ) 2016 2017 3 - 39 years Hyde Beach House Resort & - - 5,710 - - - 5,710 5,710 ( 481 ) 2019 2019 3 - 39 years $ 321,895 $ 56,412 $ 301,739 $ 4,523 $ 110,979 $ 60,935 $ 412,718 $ 473,653 $ ( 130,311 ) (1) For the year ending December 31, 2022 , the aggregate cost of our real estate assets for federal income tax purposes was approximately $ 468.9 million. RECONCILIATION OF REAL ESTATE AND ACCUMULATED DEPRECIATION RECONCILIATION OF REAL ESTATE Balance at December 31, 2020 $ 508,153 Acquisitions — Improvements 2,147 Disposal of Assets ( 680 ) Balance at December 31, 2021 $ 509,620 Acquisitions — Improvements 6,916 Disposal of Assets ( 42,883 ) Balance at December 31, 2022 $ 473,653 RECONCILIATION OF ACCUMULATED DEPRECIATION Balance at December 31, 2020 $ 111,758 Current Expense 14,474 Impairment 12,201 Disposal of Assets ( 8,538 ) Balance at December 31, 2021 $ 129,895 Current Expense 13,462 Impairment — Disposal of Assets ( 13,046 ) Balance at December 31, 2022 $ 130,311

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation – The consolidated financial statements of the Company presented herein include all the accounts of Sotherly Hotels Inc., the Operating Partnership and the MHI TRS Entities. All significant inter-company balances and transactions have been eliminated. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. The consolidated financial statements of the Operating Partnership presented herein include all the accounts of Sotherly Hotels LP and the MHI TRS Entities. All significant inter-company balances and transactions have been eliminated. Additionally, all administrative expenses of the Company and those expenditures made by the Company on behalf of the Operating Partnership are reflected as the administrative expenses, expenditures and obligations thereto of the Operating Partnership, pursuant to the terms of the Partnership Agreement.
Variable Interest Entities	Variable Interest Entities – The Operating Partnership is a variable interest entity. The Company’s only significant asset is its investment in the Operating Partnership, and consequently, substantially all of the Company’s assets and liabilities represent those assets and liabilities of the Operating Partnership and its subsidiaries. All of the Company’s debt is an obligation of the Operating Partnership and its subsidiaries.
Investment in Hotel Properties	Investment in Hotel Properties – Investments in hotel properties include investments in operating properties which are recorded at fair value on the acquisition date and allocated to land, property and equipment and identifiable intangible assets. Replacements and improvements are capitalized, while repairs and maintenance are expensed as incurred. Upon the sale or retirement of a fixed asset, the cost and related accumulated depreciation are removed from our accounts and any resulting gain or loss is included in the statements of operations. Expenditures under a renovation project, which constitute additions or improvements that extend the life of the property, are capitalized. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, generally 7 to 39 years for buildings and building improvements and 3 to 10 years for furniture, fixtures and equipment. Leasehold improvements are amortized over the shorter of the lease term or the useful lives of the related assets. The Company assesses the carrying values of its investments in hotel properties whenever events or changes in circumstances indicate that the carrying value of the hotel properties may not be recoverable. Events or circumstances that may cause a review include, but are not limited to, adverse permanent changes in the demand for lodging at the properties due to declining national or local economic conditions and/or new hotel construction in markets where the hotels are located. When such conditions exist, management performs an analysis to determine if the estimated undiscounted future cash flows from operations and the proceeds from the ultimate disposition of a hotel property exceeds its carrying value. If the estimated undiscounted future cash flows are found to be less than the carrying amount of the asset, an adjustment to reduce the carrying amount to the related hotel property’s estimated fair market value would be recorded and an impairment loss recognized. The COVID-19 pandemic has had, an adverse impact on the lodging and hospitality industries, which the Company considered to be a triggering event for each of its hotels during its impairment testing for the year ended December 31, 2021. The Company assessed the recoverability of each of its hotel properties which included a projection of future operating cash flows based upon significant assumptions regarding its ability to maintain ownership of the property, growth rates, occupancy, room rates, economic trends, property-specific operating costs, an allowance for the replacement of furniture, fixtures and equipment and projected cash flows from the eventual disposition of the hotel. The Company also projected cash flows assuming an eventual disposition of the hotel based upon property-specific capitalization rates. As of December 31, 2021, the Company determined the Sheraton Louisville Riverside, to be impaired based on the proceeds received in a subsequent sale, as well as The Whitehall in Houston, Texas due to the lack of certainty regarding our ability to extend or refinance the mortgage which was set to mature in early 2023. The Company recognized an impairment loss of approximately $ 12.2 million during the period ended December 31, 2021. The impairment loss was determined using level 2 inputs under authoritative guidance for fair value measurements. No impairment loss was recognized for the year ended December 31, 2022.
Assets Held for Sale	Assets Held for Sale – The Company records assets as held for sale when management has committed to a plan to sell the assets, actively seeks a buyer for the assets, and the consummation of the sale is considered probable and is expected within one year. When the carrying value of the asset is greater than the fair value, the Company reduces the carrying value to fair value less selling costs and recognizes an impairment loss.
Cash and Cash Equivalents	Cash and Cash Equivalents – The Company consider all highly liquid investments with an original maturity of three months or less to be cash equivalents.
Concentration of Credit Risk	Concentration of Credit Risk – The Company holds cash accounts at several institutions in excess of the Federal Deposit Insurance Corporation (the “FDIC”) protection limits of $ 250,000 . Our exposure to credit loss in the event of the failure of these institutions is represented by the difference between the FDIC protection limit and the total amounts on deposit. Management monitors, on a regular basis, the financial condition of the financial institutions along with the balances there on deposit to minimize our potential risk.
Restricted Cash	Restricted Cash – Restricted cash includes real estate tax escrows, insurance escrows and reserves for replacements of furniture, fixtures and equipment pursuant to certain requirements in our various mortgage agreements.
Accounts Receivable	Accounts Receivable – Accounts receivable consists primarily of hotel guest, banqueting and credit card receivables. Ongoing evaluations of collectability are performed and an allowance for potential credit losses is provided against the portion of accounts receivable that is estimated to be uncollectible.
Inventories	Inventories – Inventories, consisting primarily of food and beverages, are stated at the lower of cost or net realizable value, with cost determined on a method that approximates first-in, first-out basis.
Franchise License Fees	Franchise License Fees – Fees expended to obtain or renew a franchise license are amortized over the life of the license or renewal. The unamortized franchise fees as of December 31, 2022 and 2021 were approximately $ 241,038 and $ 294,390 , respectively. Amortization expense for the years ended December 31, 2022, 2021, and 2020 was $ 48,852 , $ 59,482 and $ 59,482 , respectively.
Deferred Financing Costs	Deferred Financing Costs – Deferred financing costs are recorded at cost and consist of loan fees and other costs incurred in issuing debt and are reflected in mortgage loans, net and unsecured notes, net on the consolidated balance sheets. Deferred offering costs are recorded at cost and consist of offering fees and other costs incurred in advance of issuing equity and are reflected in prepaid expenses, inventory and other assets on the consolidated balance sheets. Amortization of deferred financing costs is computed using a method that approximates the effective interest method over the term of the related debt and is included in interest expense in the consolidated statements of operations.
Derivative Instruments	Derivative Instruments – Our derivative instruments are reflected as assets or liabilities on the consolidated balance sheet and measured at fair value. Derivative instruments used to hedge the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as an interest rate risk, are considered fair value hedges. Derivative instruments used to hedge exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. For a derivative instrument designated as a cash flow hedge, the change in fair value each period is reported in accumulated other comprehensive income in stockholders’ equity and partners’ capital to the extent the hedge is effective. For a derivative instrument designated as a fair value hedge, the change in fair value each period is reported in earnings along with the change in fair value of the hedged item attributable to the risk being hedged. For a derivative instrument that does not qualify for hedge accounting or is not designated as a hedge, the change in fair value each period is reported in earnings. We use derivative instruments to add stability to interest expense and to manage our exposure to interest-rate movements. To accomplish this objective, we currently use interest rate caps and an interest rate swap which act as cash flow hedges and are not designated as hedges. We value our interest-rate caps and interest rate swap at fair value, which we define 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 (exit price). We do not enter into contracts to purchase or sell derivative instruments for speculative trading purposes.
Fair Value Measurements	Fair Value Measurements – We classify the inputs used to measure fair value into the following hierarchy: Level 1 Unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 Unadjusted quoted prices in active markets for similar assets or liabilities, or unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs other than quoted prices that are observable for the asset or liability. Level 3 Unobservable inputs for the asset or liability. We endeavor to utilize the best available information in measuring fair value. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The following table represents our assets and liabilities measured at fair value and the basis for that measurement (our interest rate caps and interest rate swap are the only assets or liabilities measured at fair value on a recurring basis, there were two non-recurring or infrequent asset valuations and no non-recurring liabilities for fair value measurements as of December 31, 2022 and 2021, respectively): Level 1 Level 2 Level 3 December 31, 2021 Interest rate cap (1) $ — $ 47 $ — Interest rate swap (2) $ — $ ( 1,537,319 ) $ — Mortgage loans (3) $ — $ ( 355,496,444 ) $ — Investment in hotel properties, net (4) $ — $ 23,000,000 $ — Investment in hotel properties held for sale, net (5) $ — $ 11,063,952 $ — December 31, 2022 Interest rate swaps (2) $ — $ 1,308,503 $ — Mortgage loans (3) $ — $ ( 306,300,855 ) $ — (1) Interest rate cap, which caps the 1-month LIBOR rate at 3.25 %. (2) Interest rate swaps, one of which swaps the Loan Rate for a fixed interest rate of 5.237 % for the DoubleTree by Hilton Philadelphia Airport mortgage and is valued at December 31, 2022 and December 31, 2021 , and the other which swaps the Loan Rate for a fixed rate of 5.576 % for the Hotel Alba Tampa mortgage and is valued only at December 31, 2022. Notional amounts of the swaps approximate the declining balance of the loan. (3) Mortgage loans had a carrying value on our Consolidated Balance Sheets of $ 320,482,103 and $ 351,170,883 , as of December 31, 2022 and December 31, 2021, respectively. (4) Investment in hotel properties, net, a non-recurring asset, is reflected at appraised value as of December 31, 2021. (5) Investment in hotel properties held for sale, net, a non-recurring asset, is reflected at net realizable value as of December 31, 2021.
Noncontrolling Interest in Operating Partnership	Noncontrolling Interest in Operating Partnership – Certain hotel properties have been acquired, in part, by the Operating Partnership through the issuance of limited partnership units of the Operating Partnership. The noncontrolling interest in the Operating Partnership is: (i) increased or decreased by the limited partners’ pro-rata share of the Operating Partnership’s net income or net loss, respectively; (ii) decreased by distributions; (iii) decreased by redemption of partnership units for the Company’s common stock; and (iv) adjusted to equal the net equity of the Operating Partnership multiplied by the limited partners’ ownership percentage immediately after each issuance of units of the Operating Partnership and/or the Company’s common stock through an adjustment to additional paid-in capital. Net income or net loss is allocated to the noncontrolling interest in the Operating Partnership based on the weighted average percentage ownership throughout the period.
Revenue Recognition	Revenue Recognition – Revenue consists of amounts derived from hotel operations, including the sales of rooms, food and beverage, and other ancillary services. Room revenue is recognized over a customer’s hotel stay. Revenue from food and beverage and other ancillary services is generated when a customer chooses to purchase goods or services separately from a hotel room and revenue is recognized on these distinct goods and services at the point in time or over the time period that goods or services are provided to the customer. Some contracts for rooms or food and beverage services require an upfront deposit which is recorded as advanced deposits (or contract liabilities) shown on our consolidated balance sheets and recognized once the performance obligations are satisfied. Certain ancillary services are provided by third parties and the Company assessed whether it is the principal or agent in these arrangements. If the Company is the agent, revenue is recognized based upon the gross commission earned from the third party. If the Company is the principal, the Company recognizes based upon the gross sales price. With respect to the hotel condominium rental programs the Company operates at the Hyde Resort & Residences and the Hyde Beach House Resort & Residences, the Company has determined that it is an agent and recognizes revenue based on its share of revenue earned under the rental agency agreement. Certain of the Company’s hotels have retail spaces, restaurants or other spaces which the Company leases to third parties. Lease revenue is recognized on a straight-line basis over the life of the lease and included in other operating revenues in the Company’s consolidated statements of operations. The Company collects revenue, sales taxes, use taxes, occupancy taxes and similar taxes at its hotels which are reflected in revenue on a net basis on the consolidated statements of operations.
Lease Revenue	Lease Revenue – Several of our properties generate revenue from leasing commercial space adjacent to the hotel, the restaurant space within the hotel, portions of our parking facilities, apartment units and space on the roofs of our hotels for antennas and satellite dishes. We account for the lease income as revenue from other operating departments within the consolidated statement of operations pursuant to the terms of each lease. Lease revenue was approximately $ 1.3 million, $ 1.7 million and $ 1.4 million, for the years ended December 31, 2022, 2021, and 2020, respectively. A schedule of minimum future lease payments receivable for the following twelve-month periods is as follows: December 31, 2023 1,370,292 December 31, 2024 1,367,550 December 31, 2025 1,339,747 December 31, 2026 1,330,479 December 31, 2027 1,327,226 December 31, 2028 and thereafter 19,575,361 Total 26,310,655
Lessee Accounting	Lessee Accounting – The Company’s operating lease agreements primarily include the ground lease on the Hyatt Centric Arlington, the parking garage lease in Hollywood, Florida at the Hyde Beach House Resort & Residences, and the corporate office lease. The assets are classified as “right of use assets”, which represent our right to use an underlying asset and the operating lease liability, which represent our obligation to make lease payments arising from the lease, is classified within “accounts payable and other accrued liabilities”. Right of use assets and operating lease liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. Variable lease payments are excluded from the right of use assets and operating lease liabilities are recognized in the period in which the obligation for those payments is incurred. As our leases do not provide an implicit financing rate, we use our incremental borrowing cost based on information available at the commencement date using our actual borrowing rates commensurate with the lease terms and fully levered borrowing to determine present value. Extension options on our leases are included in our minimum lease terms when they are reasonably certain to be exercised.
Income Taxes	Income Taxes – The Company has elected to be taxed as a REIT under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended. As a REIT, the Company generally will not be subject to federal income tax. The MHI TRS Entities which leases our hotels from subsidiaries of the Operating Partnership, are subject to federal and state income taxes. We account for income taxes using the asset and liability method under which deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. A valuation allowance is required for deferred tax assets if, based on all available evidence, it is “more-likely-than-not” that all or a portion of the deferred tax asset will or will not be realized due to the inability to generate sufficient taxable income in certain financial statement periods. The “more-likely-than-not” analysis means the likelihood of realization is greater than 50 %, that we either will or will not be able to fully utilize the deferred tax assets against future taxable income. The net amount of deferred tax assets that are recorded on the financial statements must reflect the tax benefits that are expected to be realized using these criteria. As of December 31, 2022, we determined that it is more-likely-than-not that we will not be able to fully utilize our deferred tax assets for future tax consequences; therefore, a 100 % valuation allowance is required. As of December 31, 2022 , we had no uncertain tax positions. Our policy is to recognize interest and penalties related to uncertain tax positions in income tax expense. As of December 31, 2022, the tax years that remain subject to examination by the major tax jurisdictions to which the Company is subject generally include 2011 through 2021. In addition, as of December 31, 2022, the tax years that remain subject to examination by the major tax jurisdictions to which the MHI TRS Entities are subject, because of open NOL carryforwards, generally include 2014 through 2021. The Operating Partnership is generally not subject to federal and state income taxes as the unit holders of the Partnership are subject to tax on their respective shares of the Partnership’s taxable income.
Stock-Based Compensation	Stock-based Compensation – The Company’s 2013 Long-Term Incentive Plan (the “2013 Plan”), which the Company’s stockholders approved in April 2013, permitted the grant of stock options, restricted stock and performance share compensation awards to its employees and directors for up to 750,000 shares of common stock. The Company believes that stock awards align the interests of its employees with those of its stockholders. Under the 2013 Plan, the Company made cumulative stock awards totaling 745,160 shares, of which 316,333 were originally restricted. As of December 31, 2022 , there were 45,000 restricted shares to certain executives, directors, and employees, and 700,160 non-restricted shares issued to certain executives, directors and employees. All awards have vested except for 45,000 shares issued to certain executives, which will vest over the next 7 years. The remaining 4,840 shares have been deregistered. Under the 2013 Plan, the Company was authorized to issue a variety of performance-based stock awards, including nonqualified stock options. The value of the awards is charged to compensation expense on a straight-line basis over the vesting or service period based on the value of the award as determined by the Company’s stock price on the date of grant or issuance. As of December 31, 2022 , no performance-based stock awards have been granted. Consequently, stock-based compensation as determined under the fair-value method would be the same under the intrinsic-value method. The Company’s 2022 Long-Term Incentive Plan (the “2022 Plan”), which the Company’s stockholders approved in April 2022, permits the grant of stock options, restricted stock, unrestricted stock and performance share compensation awards to its employees and directors for up to 2,000,000 shares of common stock. Under the 2022 Plan, the Company may issue a variety of performance-based stock awards, including nonqualified stock options. The value of the awards is charged to compensation expense on a straight-line basis over the vesting or service period based on the value of the award as determined by the Company’s stock price on the date of grant or issuance. As of December 31, 2022 , 167,390 service-based stock awards have been granted. Total stock-based compensation cost recognized under the 2013 Plan and 2022 Plan for the years ended December 31, 2022, 2021, and 2020 was $ 871,466 , $ 517,546 and $ 548,894 , respectively. Additionally, the Company sponsors and maintains an Employee Stock Ownership Plan (“ESOP”) and related trust for the benefit of its eligible employees. We reflect unearned ESOP shares as a reduction of stockholders’ equity. Dividends on unearned ESOP shares, when paid, are considered compensation expense. The Company recognizes compensation expense equal to the fair value of the Company’s ESOP shares during the periods in which they are committed to be released. For the years ended December 31, 2022, 2021, and 2020 the ESOP compensation cost was $ 140,703 , $ 172,000 and $ 175,367 , respectively. To the extent that the fair value of the Company’s ESOP shares differs from the cost of such shares, the differential is recognized as additional paid in capital. Because the ESOP is internally leveraged through a loan from the Company to the ESOP, the loan receivable by the Company from the ESOP is not reported as an asset nor is the debt of the ESOP shown as a liability in the Company’s consolidated financial statements.
Advertising	Advertising – Advertising costs, including digital advertising, were approximately $ 2.2 million, $ 2.0 million and $ 1.4 million, for the years ended December 31, 2022, 2021, and 2020 , respectively and are expensed as incurred.
Business Interruption Proceeds	Business Interruption Proceeds – Insurance recoveries for business interruption were recognized during the years ended December 31, 2022, 2021, and 2020 , for $ 62,010 , $ 200,000 , and $ 85,517 , respectively. The insurance proceeds were reflected in the statement of operations in other operating departments revenues .
Involuntary Conversion of Assets	Involuntary Conversion of Assets – The Company record gains or losses on involuntary conversions of assets due to recovered insurance proceeds to the extent the undepreciated cost of a nonmonetary asset differs from the amount of monetary proceeds received. During the years ending December 31, 2022, 2021, and 2020 , we recognized approximately $ 1.8 million, $ 0.6 million and $ 0.2 million, respectively, for gain on involuntary conversion of assets, which is reflected in the consolidated statements of operations.
Comprehensive Income (Loss)	Comprehensive Income (Loss) – Comprehensive income (loss), as defined, includes all changes in equity (net assets) during a period from non-owner sources. The Company does not have any items of comprehensive income (loss) other than net income (loss).
Segment Information	Segment Information – The Company has determined that our business is conducted in one reportable segment: hotel ownership.
Use of Estimates	Use of Estimates – The preparation of the financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
New Accounting Pronouncements	New Accounting Pronouncements – In June 2016, the FASB issued ASU 2016-13, Financial Instruments -Credit Losses(Topic 326) , which replaced the existing " incurred loss " approach with an " expected loss " model for financial instruments measured at amortized cost. For trade and other receivables, the forward looking "expected loss" model will generally result in the earlier recognition of allowances for losses. In November 2018, the FASB issued ASU 2018-19, Codification Improvements to Topic 326, Financial Instruments -Credit Losses, which clarified that operating lease receivables accounted for under ASC 842 are not in the scope of ASU 2016-13. We do not expect adoption of this standard to have a material impact on the Company's consolidated financial statements. In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform – Facilitation of the Effects of Reference Rate Reform on Financial Reporting , which provides temporary optional expedients and exceptions to the existing guidance on contract modifications and hedge accounting to ease the financial reporting burdens of the expected market transition from the London Interbank Offered Rate (“LIBOR”) and other interbank offered rates to alternative reference rates, such as the Secured Overnight Financing Rate (“SOFR”). The update provides guidance in accounting for changes in contracts, hedging relationships, and other transactions as a result of this reference rate reform. The option expedients and exceptions contained within this update, in general, only apply to contract amendments and modifications entered into prior to January 1, 2023. The provisions of this update will most likely affect our financial reporting process relating to modifications of contracts with lenders and the hedging contracts associated with each respective modified borrowing contract. In general, the provision of the update would benefit us by allowing modifications of debt contracts with lenders that fall under the guidance of ASC Topic 740 to be accounted for as a non-substantial modification and not be considered debt extinguishment. As of December 31, 2022 , we have not entered into any contract modification as it directly relates to reference rate reform, with the exception of a modification to the mortgages on The Whitehall in Houston, Texas, which changed the reference rate from LIBOR to the New York Prime Rate, and on Hotel Alba Tampa, Tapestry Collection in Tampa, Florida, which changed the reference rate from LIBOR to SOFR. On March 14, 2023, the Company modified the floating-rate mortgage on the DoubleTree by Hilton Philadelphia Airport to change the reference rate from 1-month LIBOR to SOFR. The Company anticipates no additional loan modifications will be required.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Schedule of Recurring Assets and Liabilities Measured at Fair Value	The following table represents our assets and liabilities measured at fair value and the basis for that measurement (our interest rate caps and interest rate swap are the only assets or liabilities measured at fair value on a recurring basis, there were two non-recurring or infrequent asset valuations and no non-recurring liabilities for fair value measurements as of December 31, 2022 and 2021, respectively): Level 1 Level 2 Level 3 December 31, 2021 Interest rate cap (1) $ — $ 47 $ — Interest rate swap (2) $ — $ ( 1,537,319 ) $ — Mortgage loans (3) $ — $ ( 355,496,444 ) $ — Investment in hotel properties, net (4) $ — $ 23,000,000 $ — Investment in hotel properties held for sale, net (5) $ — $ 11,063,952 $ — December 31, 2022 Interest rate swaps (2) $ — $ 1,308,503 $ — Mortgage loans (3) $ — $ ( 306,300,855 ) $ — (1) Interest rate cap, which caps the 1-month LIBOR rate at 3.25 %. (2) Interest rate swaps, one of which swaps the Loan Rate for a fixed interest rate of 5.237 % for the DoubleTree by Hilton Philadelphia Airport mortgage and is valued at December 31, 2022 and December 31, 2021 , and the other which swaps the Loan Rate for a fixed rate of 5.576 % for the Hotel Alba Tampa mortgage and is valued only at December 31, 2022. Notional amounts of the swaps approximate the declining balance of the loan. (3) Mortgage loans had a carrying value on our Consolidated Balance Sheets of $ 320,482,103 and $ 351,170,883 , as of December 31, 2022 and December 31, 2021, respectively. (4) Investment in hotel properties, net, a non-recurring asset, is reflected at appraised value as of December 31, 2021. (5) Investment in hotel properties held for sale, net, a non-recurring asset, is reflected at net realizable value as of December 31, 2021.
Schedule of Minimum Future Lease Payments Receivable	A schedule of minimum future lease payments receivable for the following twelve-month periods is as follows: December 31, 2023 1,370,292 December 31, 2024 1,367,550 December 31, 2025 1,339,747 December 31, 2026 1,330,479 December 31, 2027 1,327,226 December 31, 2028 and thereafter 19,575,361 Total 26,310,655

Disposal of Assets (Tables)

Disposal of Assets (Tables)	12 Months Ended
	Dec. 31, 2022
Discontinued Operations and Disposal Groups [Abstract]
Summary of Proforma Financial Information Presents the Results of Operations	The following proforma results have been prepared for comparative purposes only and do not purport to be indicative of the results of operations, had the transactions taken place on January 1, 2021: Twelve Months Ended Twelve Months Ended December 31, 2022 December 31, 2021 (unaudited) (unaudited) Pro forma revenues $ 162,852,282 $ 118,839,373 Pro forma operating expenses $ 143,126,315 $ 121,773,659 Pro forma operating expense (income) $ 19,725,967 $ ( 2,934,286 ) Pro forma net income (loss) $ 7,090,465 $ ( 21,984,647 ) Pro forma income (loss) per basic share $ 0.40 $ ( 1.42 ) Pro forma income (loss) per diluted share $ 0.40 $ ( 1.42 ) Pro forma income (loss) per basic unit $ 0.37 $ ( 1.28 ) Pro forma income (loss) per diluted unit $ 0.37 $ ( 1.28 ) Basic common shares 17,802,772 15,531,684 Diluted common shares 17,802,772 15,531,684 Basic units 19,266,320 17,186,789 Diluted units 19,266,320 17,186,789

Investment in Hotel Propertie_2

Investment in Hotel Properties, Net and Investment in Hotel Properties Held for Sale, Net (Tables)	12 Months Ended
	Dec. 31, 2022
Real Estate [Abstract]
Schedule of Investment in Hotel Properties, Net	Investment in hotel properties, net as of December 31, 2022 and 2021 consisted of the following: December 31, 2022 December 31, 2021 Land and land improvements $ 60,934,859 $ 60,395,168 Buildings and improvements 412,717,919 407,310,530 Right of use assets 5,199,845 5,711,607 Furniture, fixtures and equipment 51,292,107 50,505,902 530,144,730 523,923,207 Less: accumulated depreciation and impairment ( 165,074,005 ) ( 148,037,983 ) Investment in Hotel Properties, Net $ 365,070,725 $ 375,885,224
Schedule of Investment in Hotel Properties Held for Sale, Net	Investment in hotel properties held for sale, net as of December 31, 2022 and 2021 consisted of the following: December 31, 2022 December 31, 2021 Land and land improvements $ — $ 5,799,197 Buildings and improvements — 36,115,121 Furniture, fixtures and equipment — 5,743,949 — 47,658,267 Less: accumulated depreciation and impairment — ( 24,787,780 ) Investment in Hotel Properties Held for Sale, Net $ — $ 22,870,487

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Schedule of Mortgage Debt Obligations on Hotels	The following table sets forth our mortgage debt obligations on our hotels. Balance Outstanding as of December 31, December 31, Prepayment Maturity Amortization Interest Property 2022 2021 Penalties Date Provisions Rate The DeSoto (1) $ 31,219,022 $ 32,148,819 Yes 7/1/2026 25 years 4.25 % DoubleTree by Hilton Jacksonville (2) 32,416,570 33,051,316 Yes 7/11/2024 30 years 4.88 % DoubleTree by Hilton Laurel (3) 7,412,107 8,175,215 None 5/5/2023 25 years 5.25 % DoubleTree by Hilton Philadelphia Airport (4) 39,413,672 40,734,077 None 10/31/2023 30 years LIBOR plus 2.27 % DoubleTree by Hilton Raleigh- (5) — 18,300,000 Yes 8/1/2022 (5) LIBOR plus 4.00 % DoubleTree Resort by Hilton Hollywood (6) 52,724,475 54,253,963 (6) 10/1/2025 30 years 4.913 % Georgian Terrace (7) 40,492,622 41,484,732 (7) 6/1/2025 30 years 4.42 % Hotel Alba Tampa, Tapestry Collection by Hilton (8) 24,756,400 17,383,397 None 6/30/2025 (8) SOFR plus 2.75 % Hotel Ballast Wilmington, Tapestry Collection by (9) 31,699,775 32,604,948 Yes 1/1/2027 25 years 4.25 % Hyatt Centric Arlington (10) 47,534,606 48,990,136 Yes 10/1/2028 30 years 5.25 % Sheraton Louisville Riverside (11) — 10,947,366 Yes 12/1/2026 25 years 4.27 % The Whitehall (12) 14,226,067 14,551,671 None 2/26/2028 25 years PRIME plus 1.25 % Total Mortgage Principal Balance $ 321,895,316 $ 352,625,640 Deferred financing costs, net ( 1,480,779 ) ( 1,547,004 ) Unamortized premium on loan 67,566 92,247 Total Mortgage Loans, Net $ 320,482,103 $ 351,170,883 (1) The note amortizes on a 25 -year schedule after an initial interest-only period of one year and is subject to a pre-payment penalty except for any pre-payments made within 120 days of the maturity date. (2) The note is subject to a pre-payment penalty until March 2024 . Prepayment can be made without penalty thereafter. (3) The note is subject to an exit fee of 0.75 % if prepaid on or after February 5, 2023. On July 15, 2021, we entered into a note modification agreement whereby the maturity date was extended from August 5, 2021 to May 5, 2022 . On April 28, 2022, we entered into an additional note modification agreement whereby the maturity date was extended from May 5, 2022 to May 5, 2023 . (4) The note bears a floating interest rate of 1 -month LIBOR plus 2.27 %, but we entered into a swap agreement to fix the rate at 5.237 % through July 31, 2023 . Under the swap agreement, notional amounts approximate the declining balance of the loan and we are responsible for any potential termination fees associated with early termination of the swap agreement. (5) The DoubleTree by Hilton Raleigh-Brownstone University was sold on June 10, 2022. (6) With limited exception, the note may not be prepaid prior to June 2025 . (7) With limited exception, the note may not be prepaid prior to February 2025 . (8) The note bears a floating interest rate of SOFR plus 2.75 % subject to a floor rate of 2.75 %; with monthly principal payments of $ 40,600 ; the note provides that the mortgage can be extended for two additional periods of one year each, subject to certain conditions. On July 11, 2022, we entered into a swap agreement to fix the rate at 5.576 %. The swap agreement reflects notional amounts approximate to the declining balance of the loan and we are responsible for any potential termination fees associated with early termination of the swap agreement. (9) The note amortizes on a 25 -year schedule after an initial interest-only period of one year and is subject to a pre-payment penalty except for any pre-payments made within 120 days of the maturity date. (10) Following a 5 -year lockout, the note can be prepaid with penalty in years 6 - 10 and without penalty during the final 4 months of the term. (11) The Sheraton Louisville Riverside was sold on February 10, 2022. (12) The note bears a floating interest rate of New York Prime Rate plus 1.25 %, with a floor of 7.50 %.
Schedule of Future Mortgage Debt Maturities	Total future mortgage debt maturities, including with respect to any extensions of loan maturity, as of December 31, 2022 were as follows: December 31, 2023 53,555,486 December 31, 2024 38,069,572 December 31, 2025 116,084,892 December 31, 2026 58,588,970 December 31, 2027 1,757,220 December 31, 2028 and thereafter 53,839,176 Total future maturities $ 321,895,316

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Schedule of Minimum Future Lease Payments	A schedule of minimum future lease payments for the following twelve-month periods is as follows: December 31, 2023 $ 675,927 December 31, 2024 678,300 December 31, 2025 683,348 December 31, 2026 673,413 December 31, 2027 342,503 December 31, 2028 and thereafter 13,512,577 Total $ 16,566,068

Preferred Stock and Units (Tabl

Preferred Stock and Units (Tables)	12 Months Ended
	Dec. 31, 2022
Preferred Stock And Units [Abstract]
Schedule of Series of Cumulative Redeemable Perpetual Preferred Stock	The following table sets forth our Cumulative Redeemable Perpetual Preferred Stock by series: Per Number of Shares Quarterly Annum Liquidation Issued and Outstanding as of Distributions Preferred Stock - Series Rate Preference December 31, 2022 December 31, 2021 Per Share Series B Preferred Stock 8.000 % $ 25.00 1,464,100 1,510,000 $ 0.500000 Series C Preferred Stock 7.875 % $ 25.00 1,346,110 1,384,610 $ 0.492188 Series D Preferred Stock 8.250 % $ 25.00 1,163,100 1,165,000 $ 0.515625
Schedule of Series of Cumulative Redeemable Perpetual Preferred Units	The following table sets forth our Cumulative Redeemable Perpetual Preferred Units by series: Per Number of Units Quarterly Annum Liquidation Issued and Outstanding as of Distributions Preferred Units - Series Rate Preference December 31, 2022 December 31, 2021 Per Unit Series B Preferred Units 8.000 % $ 25.00 1,464,100 1,510,000 $ 0.500000 Series C Preferred Units 7.875 % $ 25.00 1,346,110 1,384,610 $ 0.492188 Series D Preferred Units 8.250 % $ 25.00 1,163,100 1,165,000 $ 0.515625
Quarterly Distributions Declared and Payable by Operating Partnership	The following table presents the quarterly distributions by the Operating Partnership declared and payable per December 31, 2022, 2021, and 2020: Quarter Ended 2020 2021 2022 March 31, $ 0.500000 $ - $ - June 30, - - - September 30, - - - December 31, - - - The following table presents the quarterly distributions by the Operating Partnership declared and payable per Series C Preferred Unit and dividends by the Company declared and payable per share of Series C Preferred Stock, for the years ended December 31, 2022, 2021, and 2020: Quarter Ended 2020 2021 2022 March 31, $ 0.492188 $ - $ - June 30, - - - September 30, - - - December 31, - - - The following table presents the quarterly distributions by the Operating Partnership declared and payable per Series D Preferred Unit and dividends by the Company declared and payable per share of Series D Preferred Stock, for the years ended December 31, 2022, 2021, and 2020: Quarter Ended 2020 2021 2022 March 31, $ 0.515625 $ - $ - June 30, - - - September 30, - - - December 31, - - -

Common Stock and Units (Tables)

Common Stock and Units (Tables)	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
Quarterly Stock Dividends and Unit Distributions Declared and Payable Per Common Stock/Unit	Common Stock Dividends and Unit Distributions – The following table presents the quarterly stock dividends and unit distributions by us declared and payable per common stock/unit for the years ended December 31, 2022, 2021, and 2020: Quarter Ended 2020 2021 2022 March 31, $ 0.130 $ - $ - June 30, - - - September 30, - - - December 31, - - -

Retirement Plans (Tables)

Retirement Plans (Tables)	12 Months Ended
	Dec. 31, 2022
Retirement Benefits [Abstract]
Summary of Shares Allocations are Accounted For Fair Value on The Date of Allocations	The share allocations are accounted for at fair value on the date of allocation as follows: December 31, 2022 December 31, 2021 Number of Shares Fair Value Number of Shares Fair Value Allocated shares 301,646 $ 545,979 247,606 $ 517,496 Committed to be released shares — — — — Total Allocated and Committed-to-be-Released 301,646 $ 545,979 247,606 $ 517,496 Unallocated shares 364,177 659,160 431,697 902,247 Total ESOP Shares 665,823 $ 1,205,139 679,303 $ 1,419,743

Indirect Hotel Operating Expe_2

Indirect Hotel Operating Expenses (Tables)	12 Months Ended
	Dec. 31, 2022
Other Income and Expenses [Abstract]
Summary of Indirect Hotel Operating Expenses	Indirect hotel operating expenses consists of the following expenses incurred by the hotels: 2022 2021 2020 Sales and marketing $ 15,062,397 $ 11,684,933 $ 8,094,085 General and administrative 13,436,054 10,533,201 10,542,495 Repairs and maintenance 8,723,144 7,362,334 5,490,145 Utilities 5,649,716 5,309,637 4,817,508 Property taxes 5,254,075 6,131,271 7,014,472 Management fees, including incentive 4,377,814 3,620,071 1,822,359 Franchise fees 4,059,709 3,321,352 2,042,902 Insurance 4,082,551 3,596,153 3,097,245 Information and telecommunications 3,378,716 3,048,495 2,271,266 Other 787,391 492,798 294,831 Total indirect hotel operating expenses $ 64,811,567 $ 55,100,245 $ 45,487,308

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Components of Income Tax Provision	The components of the provision for income taxes for the years ended December 31, 2022, 2021, and 2020 are as follows: Year Ended Year Ended Year Ended December 31, 2022 December 31, 2021 December 31, 2020 Current: Federal $ — $ — $ ( 125,587 ) State 522,355 27,392 ( 6,054 ) 522,355 27,392 ( 131,641 ) Deferred: Federal 3,025,518 ( 149,704 ) ( 7,576,931 ) State 695,708 ( 38,580 ) ( 1,705,939 ) Subtotals 3,721,226 ( 188,284 ) ( 9,282,870 ) Change in deferred tax valuation allowance ( 3,721,226 ) 188,284 14,694,954 — — 5,412,084 $ 522,355 $ 27,392 $ 5,280,443
Reconciliation of Statutory Federal Income Tax Provision (Benefit)	A reconciliation of the statutory federal income tax provision (benefit) to the Company’s provision for income tax is as follows: Year Ended Year Ended Year Ended December 31, 2022 December 31, 2021 December 31, 2020 Statutory federal income tax provision (benefit) $ 7,241,263 $ ( 5,987,572 ) $ ( 10,164,517 ) Federal tax impact of REIT election ( 3,255,236 ) 5,851,466 2,530,482 Statutory federal income tax provision (benefit) at TRS 3,986,027 ( 136,106 ) ( 7,634,035 ) Federal impact of PPP loan forgiveness ( 966,584 ) — — State income tax provision (benefit), net of federal provision (benefit) 1,224,138 ( 24,786 ) ( 1,780,476 ) Change in valuation allowance ( 3,721,226 ) 188,284 14,694,954 $ 522,355 $ 27,392 $ 5,280,443
Schedule of Significant Components of Deferred Tax Asset	The significant components of our deferred tax asset as of December 31, 2022 and 2021, are as follows: Year Ended Year Ended Year Ended December 31, 2022 December 31, 2021 December 31, 2020 Deferred tax asset: Net operating loss carryforwards $ 10,744,121 $ 14,287,318 $ 14,409,321 Accrued compensation 425,575 338,033 108,646 Accrued expenses and other — 247,037 128,318 Intangible assets 10,092 28,627 48,670 Less: Valuation allowance ( 11,179,788 ) ( 14,901,015 ) ( 14,694,955 ) Total $ — $ — $ —

Earnings (Loss) per Share and_2

Earnings (Loss) per Share and per Unit (Tables)	12 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
Computation of Basic Net Earnings (Loss) Per Share	The computation of the Company’s basic net earnings (loss) per share is presented below: Twelve Months Ended Twelve Months Ended Twelve Months Ended December 31, 2022 December 31, 2021 December 31, 2020 Numerator Net income (loss) $ 33,959,848 $ ( 28,539,640 ) $ ( 53,682,905 ) Less: Net income allocated to participating share awards ( 113,405 ) — (1) — (1) Net (income) loss attributable to non-controlling interest ( 1,423,327 ) 2,318,166 4,489,341 Declared and undeclared distributions to preferred stockholders ( 7,634,219 ) ( 7,541,891 ) ( 8,755,642 ) Gain on extinguishment of preferred stock 64,518 361,476 — Net income (loss) attributable to common stockholders for EPS computation $ 24,853,415 $ ( 33,401,889 ) $ ( 57,949,206 ) Denominator Weighted average number common shares outstanding for basic EPS computation 17,802,772 15,531,684 14,312,049 Effect of dilutive participating securities: Unvested restricted shares — (1) — (1) — (1) Weighted average number common and common equivalent shares outstanding for diluted EPS computation 17,802,772 15,531,684 14,312,049 Basic net income (loss) per common share: Undistributed income (loss) $ 1.40 $ ( 2.15 ) $ ( 4.05 ) Total basic $ 1.40 $ ( 2.15 ) $ ( 4.05 ) Diluted net income (loss) per common share: Undistributed income (loss) $ 1.40 $ ( 2.15 ) $ ( 4.05 ) Allocation of participating share awards — (1) — (1) — (1) Total diluted $ 1.40 $ ( 2.15 ) $ ( 4.05 ) (1) Anti-dilutive, therefore not included.
Computation of Basic Earnings (Loss) Per Unit	The computation of basic earnings (loss) per general and limited partnership unit in the Operating Partnership is presented below: Twelve Months Ended Twelve Months Ended Twelve Months Ended December 31, 2022 December 31, 2021 December 31, 2020 Numerator Net income (loss) $ 33,959,848 $ ( 28,539,640 ) $ ( 53,682,905 ) Less: Net income allocated to participating unit awards ( 113,405 ) — (1) — (1) Declared and undeclared distributions to preferred unitholders ( 7,634,219 ) ( 7,541,891 ) ( 8,755,642 ) Gain on extinguishment of preferred units 64,518 361,476 — Net income (loss) attributable to unitholders for EPU computation $ 26,276,742 $ ( 35,720,055 ) $ ( 62,438,547 ) Denominator Weighted average number of units outstanding for basic EPU computation 19,266,320 17,186,789 16,065,499 Effect of dilutive participating securities: Unvested restricted units — (1) — (1) — (1) Weighted average number of equivalent units outstanding for diluted EPU computation 19,266,320 17,186,789 16,065,499 Basic net income (loss) per unit: Undistributed income (loss) $ 1.36 $ ( 2.08 ) $ ( 3.89 ) Total basic $ 1.36 $ ( 2.08 ) $ ( 3.89 ) Diluted net income (loss) per unit: Undistributed income (loss) $ 1.36 $ ( 2.08 ) $ ( 3.89 ) Allocation of participating unit awards — (1) — (1) — (1) Total diluted $ 1.36 $ ( 2.08 ) $ ( 3.89 ) (1) Anti-dilutive, therefore not included.

Quarterly Operating Results -_2

Quarterly Operating Results - Unaudited (Tables)	12 Months Ended
	Dec. 31, 2022
Quarterly Financial Information Disclosure [Abstract]
Quarterly Operating Results	Quarters Ended 2022 March 31 June 30 September 30 December 31 Total revenue $ 38,352,603 $ 47,170,259 $ 39,212,695 $ 41,341,747 Total operating expenses 34,427,399 38,970,971 35,923,699 36,200,422 Net operating income 3,925,204 8,199,288 3,288,996 5,141,325 Net income (loss) ( 810,944 ) 27,605,359 1,972,563 5,192,870 Net income (loss) attributable to common shareholders ( 2,507,765 ) 24,269,449 112,680 3,092,456 Income (loss) per share attributable to common $ ( 0.15 ) $ 1.36 $ 0.01 $ 0.18 Income (loss) per share attributable to common $ ( 0.15 ) $ 1.36 $ 0.01 $ 0.18 Net income (loss) available to operating partnership unitholders ( 2,669,386 ) 25,799,389 61,586 3,198,559 Income (loss) per unit attributable to operating partnership unitholders– basic $ ( 0.14 ) $ 1.33 $ 0.00 $ 0.17 Income (loss) per unit attributable to operating partnership unitholders– diluted $ ( 0.14 ) $ 1.33 $ 0.00 $ 0.17 Quarters Ended 2021 March 31 June 30 September 30 December 31 Total revenue $ 22,635,532 $ 34,383,309 $ 35,493,126 $ 35,075,957 Total operating expenses 24,717,808 31,240,158 32,706,524 46,978,440 Net operating income (loss) ( 2,082,276 ) 3,143,151 2,786,602 ( 11,902,483 ) Net loss ( 7,575,624 ) ( 1,553,970 ) ( 2,528,221 ) ( 16,881,825 ) Net loss attributable to common shareholders ( 9,064,995 ) ( 2,810,603 ) ( 4,317,081 ) ( 17,209,210 ) Loss per share attributable to common shareholders– basic and diluted $ ( 0.62 ) $ ( 0.19 ) $ ( 0.27 ) $ ( 1.05 ) Net loss available to operating partnership unitholders ( 9,764,534 ) ( 2,990,241 ) ( 4,607,249 ) ( 18,358,031 ) Loss per unit attributable to operating partnership unitholders– basic and diluted $ ( 0.60 ) $ ( 0.18 ) $ ( 0.26 ) $ ( 1.02 )

Organization and Description _2

Organization and Description of Business - Additional Information (Detail)

1 Months Ended

12 Months Ended

14 Months Ended

Feb. 03, 2023 USD ($)

Dec. 09, 2022 USD ($)

Jun. 29, 2022 USD ($)

Jun. 28, 2022 USD ($)

Jun. 10, 2022 USD ($)

Dec. 13, 2021 USD ($)

Apr. 16, 2020

May 06, 2020 USD ($)

Dec. 31, 2022 USD ($) Room Hotel Resort shares

Dec. 31, 2021 shares

Aug. 24, 2022 shares

Nov. 30, 2021 USD ($)

Dec. 31, 2020 USD ($)

Organization Consolidation and Presentation of Financial Statements [Line Items]

Date of incorporation

Aug. 20, 2004

Investment in number of hotels | Hotel

10

Rooms in hotel | Room

2,786

Number of independent hotels | Hotel

3

Date of commencement of business

Dec. 21, 2004

Number of hotels acquired before commencement of business | Hotel

6

Interest reserves

$ 1,600,000

Subsequent Event [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Paycheck protection program loan amount

$ 268,309

Commercial Unit of Hyde Resort & Residences and Hyde Beach House Resort & Residences [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Investment in number of hotels | Hotel

2

Hilton, DoubleTree and Hyatt Brands [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Number of hotels | Hotel

7

Operating Partnership [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Percentage of operating partnership owned

95.80%

Promissory Note [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Paycheck protection program loan amount

$ 4,600,000

Paycheck protection program loan term

2 years

Paycheck protection program extension loan term

5 years

Paycheck protection program loan interest rate

1%

1%

Paycheck protection program loan repayment terms

Equal payments of principal and interest were to begin no later than 10 months following origination of the loan and are amortized over the remaining term of the loan

Promissory Note [Member] | Subsequent Event [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Paycheck protection program loan amount

$ 300,000

Promissory Note [Member] | Operating Partnership [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Paycheck protection program loan amount

$ 10,700,000

Mortgage Loans [Member] | DoubleTree Resort by Hilton Hollywood Beach [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Amortization Period

30 years

Note Purchase Agreement [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Operating partnership purchase of senior notes

$ 20,000,000

Note Modification Agreement [Member] | Mortgage Loans [Member] | Hotel Alba Tampa [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Increased principal balance

$ 25,000,000

Extended maturity date

Jun. 30, 2025

Extended maturity period

2 years

Amortization Period

25 years

Amortization payments

$ 40,600

Operating Partnership guaranteed

12,500,000

Change in guaranty due to performance milestones

$ 6,250,000

Fixed interest rate

2.75%

Note Modification Agreement [Member] | Mortgage Loans [Member] | SOFR [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Excess Interest rate on mortgage debt

2.75%

Hotel Management Agreement [Member] | Hyatt Centric Arlington and Our Town [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Number of hotels | Hotel

10

Number of condominium resort rental programs | Resort

2

Secured Notes [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Exit fee

$ 2,600,000

Accrued interest paid

20,000

Interest reserves

500,000

$ 1,100,000

Payment of secured notes with cash in hand

200,000

Payment to investors

8,300,000

Principal payments

$ 5,600,000

DoubleTree by Hilton Raleigh-Brownstone University Hotel [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Proceeds from sale of hotel property

$ 18,600,000

$ 42,000,000

Net proceeds from from sale of hotel property

19,800,000

Principal payment of preferred stock

13,300,000

Accrued interest paid

200,000

DoubleTree by Hilton Raleigh-Brownstone University Hotel [Member] | Secured Notes [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Exit fee

$ 6,300,000

Exit fee [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Interest reserves

$ 500,000

Sheraton Louisville Riverside [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Proceeds from sale of hotel property

$ 11,500,000

Net proceeds from from sale of hotel property

$ 0

Common Stock [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Number of shares exchanged in agreement | shares

395,086

151,281

30,393,995

Series B Preferred Stock [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Number of shares exchanged in agreement | shares

145,900

Series C Preferred Stock [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Number of shares exchanged in agreement | shares

208,500

Series D Preferred Stock [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Number of shares exchanged in agreement | shares

36,900

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2022 USD ($) Segment shares	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Summary Of Significant Accounting Policies [Line Items]
Impairment of hotel properties	$ 0	$ 12,201,461
Federal Deposit Insurance Corporation protection limits	250,000
Un-amortized franchise fees	241,038	294,390
Amortization expense	$ 48,852	59,482	$ 59,482
Accounting standards update [Extensible List]	us-gaap:AccountingStandardsUpdate201602Member
Minimum percentage of likelihood of realization of deferred tax assets	50%
Deferred tax assets valuation allowance percent	100%
Uncertain tax positions	$ 0
Compensation cost recognized	998,424	689,547	754,111
Advertising cost	$ 2,200,000	$ 2,000,000	$ 1,400,000
Gain on Business Interruption Insurance Recovery, Statement of Income or Comprehensive Income [Extensible Enumeration]	Revenue from Contract with Customer, Excluding Assessed Tax	Revenue from Contract with Customer, Excluding Assessed Tax	Revenue from Contract with Customer, Excluding Assessed Tax
Gain on involuntary conversion of assets	$ 1,763,320	$ 588,586	$ 179,856
Number of reportable segment | Segment	1
ESOP [Member]
Summary Of Significant Accounting Policies [Line Items]
Compensation cost recognized	$ 140,703	172,000	175,367
2013 Plan [Member]
Summary Of Significant Accounting Policies [Line Items]
Shares issued under plan | shares	745,160
Originally restricted shares issued under plan | shares	316,333
Number of shares deregistered | shares	4,840
Performance-based stock awards granted | shares	0
2013 Plan [Member] | Executives, Directors and Employees [Member]
Summary Of Significant Accounting Policies [Line Items]
Unrestricted shares issued under plan | shares	45,000
Restricted shares issued under plan | shares	700,160
2013 Plan [Member] | One Employee [Member]
Summary Of Significant Accounting Policies [Line Items]
Stock award vesting period	7 years
Shares issued but not vested | shares	45,000
2022 Long term incentive plan [Member]
Summary Of Significant Accounting Policies [Line Items]
Service based stock awards granted | shares	167,390
2022 Long term incentive plan [Member] | Employees and Directors [Member]
Summary Of Significant Accounting Policies [Line Items]
Shares issued under plan | shares	2,000,000
2013 and 2022 plan [Member]
Summary Of Significant Accounting Policies [Line Items]
Compensation cost recognized	$ 871,466	517,546	548,894
Hotel, Other [Member]
Summary Of Significant Accounting Policies [Line Items]
Lease revenue	$ 1,300,000	$ 1,700,000	$ 1,400,000
Operating Lease, Lease Income, Statement of Income or Comprehensive Income [Extensible Enumeration]	Revenue from Contract with Customer, Excluding Assessed Tax	Revenue from Contract with Customer, Excluding Assessed Tax	Revenue from Contract with Customer, Excluding Assessed Tax
Hotel, Other [Member] | Hurricane [Member] | Houston, Texas and Tampa, Florida [Member]
Summary Of Significant Accounting Policies [Line Items]
Insurance recoveries from business interruption	$ 62,010	$ 200,000	$ 85,517
Maximum [Member] | 2013 Plan [Member] | Employees and Directors [Member]
Summary Of Significant Accounting Policies [Line Items]
Restricted and performance stock awards permitted to grant to employees and directors | shares	750,000
Buildings and Building Improvements [Member] | Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Estimated useful lives of the assets	7 years
Buildings and Building Improvements [Member] | Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Estimated useful lives of the assets	39 years
Furniture, Fixtures and Equipment [Member] | Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Estimated useful lives of the assets	3 years
Furniture, Fixtures and Equipment [Member] | Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Estimated useful lives of the assets	10 years

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Schedule of Recurring Assets and Liabilities Measured at Fair Value (Detail) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Derivatives Fair Value [Line Items]
Investment in Hotel Properties, net	$ 365,070,725	$ 375,885,224
Investment in Hotel Properties Held for Sale, net		22,870,487
Level 2 [Member]
Derivatives Fair Value [Line Items]
Investment in Hotel Properties, net		23,000,000
Investment in Hotel Properties Held for Sale, net		11,063,952
Level 2 [Member] | Interest Rate Caps [Member]
Derivatives Fair Value [Line Items]
Interest rate cap		47
Level 2 [Member] | Interest Rate Swap [Member]
Derivatives Fair Value [Line Items]
Interest rate cap	1,308,503	(1,537,319)
Level 2 [Member] | Mortgage Loans [Member]
Derivatives Fair Value [Line Items]
Debt instruments measured at fair value	$ (306,300,855)	$ (355,496,444)

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Schedule of Recurring Assets and Liabilities Measured at Fair Value (Parenthetical) (Detail) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Derivatives Fair Value [Line Items]
Mortgage loans, net	$ 320,482,103	$ 351,170,883
DoubleTree by Hilton Philadelphia Airport [Member]
Derivatives Fair Value [Line Items]
Loan rate swapped for fixed interest rate	5.237%	5.237%
Hotel Alba Tampa [Member]
Derivatives Fair Value [Line Items]
Loan rate swapped for fixed interest rate	5.576%
1-Month LIBOR
Derivatives Fair Value [Line Items]
Interest rate caps for loan	3.25%	3.25%

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Schedule of Minimum Future Lease Payments Receivable (Detail)	Dec. 31, 2022 USD ($)
Leases [Abstract]
December 31, 2023	$ 1,370,292
December 31, 2024	1,367,550
December 31, 2025	1,339,747
December 31, 2026	1,330,479
December 31, 2027	1,327,226
December 31, 2028 and thereafter	19,575,361
Total	$ 26,310,655

Disposal of Assets - Summary Fi

Disposal of Assets - Summary Financial Information Presents Results of Operations of Company and Operating Partnership (Detail) - USD ($)	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract]
Pro forma revenues	$ 162,852,282	$ 118,839,373
Pro forma operating expenses	143,126,315	121,773,659
Pro forma operating expense (income)	19,725,967	2,934,286
Pro forma net income (loss)	$ 7,090,465	$ (21,984,647)
Pro forma income (loss) per basic share	$ 0.40	$ (1.42)
Pro forma income (loss) per diluted share	0.40	(1.42)
Pro forma income (loss) per basic unit	$ 0.37	$ (1.28)
Pro forma income (loss) per diluted unit	0.37	(1.28)
Basic common shares	17,802,772	15,531,684
Diluted common shares	17,802,772	15,531,684
Basic units	19,266,320	17,186,789
Diluted units	19,266,320	17,186,789

Investment in Hotel Propertie_3

Investment in Hotel Properties, Net and Investment in Hotel Properties Held for Sale, Net - Schedule of Investment in Hotel Properties, Net (Detail) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Investment in Hotel Properties, Gross	$ 530,144,730	$ 523,923,207
Less: accumulated depreciation and impairment	(165,074,005)	(148,037,983)
Investment in Hotel Properties, Net	365,070,725	375,885,224
Land and Land Improvements [Member]
Property, Plant and Equipment [Line Items]
Investment in Hotel Properties, Gross	60,934,859	60,395,168
Buildings and Improvements [Member]
Property, Plant and Equipment [Line Items]
Investment in Hotel Properties, Gross	412,717,919	407,310,530
Right of Use Assets [Member]
Property, Plant and Equipment [Line Items]
Investment in Hotel Properties, Gross	5,199,845	5,711,607
Furniture, Fixtures and Equipment [Member]
Property, Plant and Equipment [Line Items]
Investment in Hotel Properties, Gross	$ 51,292,107	$ 50,505,902

Investment in Hotel Propertie_4

Investment in Hotel Properties, Net and Investment in Hotel Properties Held for Sale, Net - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Property Plant And Equipment Capitalized Interest Costs [Abstract]
Impairment of Real Estate	$ 0	$ 12,201,461

Investment in Hotel Propertie_5

Investment in Hotel Properties, Net and Investment in Hotel Properties Held for Sale, Net - Schedule of Investment in Hotel Properties Held for Sale, Net (Detail)	Dec. 31, 2021 USD ($)
Property, Plant and Equipment [Line Items]
Investment in Hotel Properties Held for Sale, Gross	$ 47,658,267
Less: accumulated depreciation and impairment	(24,787,780)
Investment in Hotel Properties Held for Sale, Net	22,870,487
Land and Land Improvements [Member]
Property, Plant and Equipment [Line Items]
Investment in Hotel Properties Held for Sale, Gross	5,799,197
Buildings and Improvements [Member]
Property, Plant and Equipment [Line Items]
Investment in Hotel Properties Held for Sale, Gross	36,115,121
Furniture, Fixtures and Equipment [Member]
Property, Plant and Equipment [Line Items]
Investment in Hotel Properties Held for Sale, Gross	$ 5,743,949

Debt - Additional Information (

Debt - Additional Information (Detail) $ in Millions

1 Months Ended

12 Months Ended

Dec. 09, 2022 USD ($)

Jun. 29, 2022 USD ($)

Jun. 28, 2022

Jun. 10, 2022 USD ($)

Apr. 28, 2022

Apr. 27, 2022

Jul. 15, 2021

Jul. 14, 2021

Apr. 16, 2020

May 06, 2020 USD ($)

Dec. 31, 2022 USD ($) Loan

Dec. 31, 2021 USD ($)

Dec. 31, 2020 USD ($)

Debt Instrument [Line Items]

Mortgage loan outstanding balance

$ 320.5

$ 351.2

Debt instrument, frequency of periodic payment

monthly

Secured Notes [Member]

Debt Instrument [Line Items]

Early repayment of senior debt using cash on hand

$ 0.2

Note Purchase Agreement [Member]

Debt Instrument [Line Items]

Operating partnership purchase of senior notes

$ 20

Double Tree By Hilton Raleigh Brownstone University Raleigh North Carolina [Member]

Debt Instrument [Line Items]

Net proceeds from from sale of hotel property

$ 19.8

Double Tree By Hilton Raleigh Brownstone University Raleigh North Carolina [Member] | Secured Notes [Member]

Debt Instrument [Line Items]

Release of interest reserves for debt extinguishment

1.6

Double Tree By Hilton Raleigh Brownstone University Raleigh North Carolina [Member] | Secured Notes [Member] | Secured Notes Principal Portion [Member]

Debt Instrument [Line Items]

Repayments of debt

13.3

Release of interest reserves for debt extinguishment

1.1

Double Tree By Hilton Raleigh Brownstone University Raleigh North Carolina [Member] | Secured Notes [Member] | Secured Notes Exit Fee Portion [Member]

Debt Instrument [Line Items]

Repayments of debt

6.3

Release of interest reserves for debt extinguishment

0.5

Double Tree By Hilton Raleigh Brownstone University Raleigh North Carolina [Member] | Secured Notes [Member] | Secured Notes Accrued Interest Portion [Member]

Debt Instrument [Line Items]

Repayments of debt

$ 0.2

Hotel Alba Tampa [Member] | Secured Notes [Member]

Debt Instrument [Line Items]

Repayments of debt

8.3

Release of interest reserves for debt extinguishment

0.5

Hotel Alba Tampa [Member] | Secured Notes [Member] | Secured Notes Principal Portion [Member]

Debt Instrument [Line Items]

Repayments of debt

5.6

Hotel Alba Tampa [Member] | Secured Notes [Member] | Secured Notes Exit Fee Portion [Member]

Debt Instrument [Line Items]

Repayments of debt

2.6

Hotel Alba Tampa [Member] | Secured Notes [Member] | Secured Notes Accrued Interest Portion [Member]

Debt Instrument [Line Items]

Repayments of debt

$ 0.1

Mortgage Loans [Member] | The DeSoto [Member]

Debt Instrument [Line Items]

Debt instrument maturity date

Jul. 01, 2026

Mortgage Loans [Member] | Double Tree By Hilton Jacksonville Riverfront

Debt Instrument [Line Items]

Debt instrument maturity date

Jul. 11, 2024

Mortgage Loans [Member] | Double Tree By Hilton Laurel [Member]

Debt Instrument [Line Items]

Extended maturity date

May 05, 2023

May 05, 2022

May 05, 2022

Aug. 05, 2021

Debt instrument maturity date

May 05, 2023

Mortgage Loans [Member] | DoubleTree by Hilton Philadelphia Airport [Member]

Debt Instrument [Line Items]

Debt instrument maturity date

Oct. 31, 2023

Mortgage Loans [Member] | Double Tree By Hilton Raleigh Brownstone University

Debt Instrument [Line Items]

Debt instrument maturity date

Aug. 01, 2022

Mortgage Loans [Member] | DoubleTree Resort by Hilton Hollywood Beach [Member]

Debt Instrument [Line Items]

Debt instrument maturity date

Oct. 01, 2025

Mortgage Loans [Member] | Georgian Terrace [Member]

Debt Instrument [Line Items]

Debt instrument maturity date

Jun. 01, 2025

Mortgage Loans [Member] | Hotel Alba Tampa [Member] | Note Modification Agreement [Member]

Debt Instrument [Line Items]

Extended maturity date

Jun. 30, 2025

Extended maturity period

2 years

Mortgage Loans [Member] | Hyatt Centric Arlington [Member]

Debt Instrument [Line Items]

Debt instrument maturity date

Oct. 01, 2028

Mortgage Loans [Member] | Sheraton Louisville Riverside [Member]

Debt Instrument [Line Items]

Debt instrument maturity date

Dec. 01, 2026

Mortgage Loans [Member] | The Whitehall [Member]

Debt Instrument [Line Items]

Debt instrument maturity date

Feb. 26, 2028

Promissory Note [Member]

Debt Instrument [Line Items]

Paycheck protection program extension loan term

5 years

Applications for loan forgiveness amount filed

$ 4.6

$ 0.6

Paycheck protection program loan term

2 years

Paycheck protection program loan interest rate

1%

1%

Paycheck protection program loan repayment terms

Equal payments of principal and interest were to begin no later than 10 months following origination of the loan and are amortized over the remaining term of the loan

Paycheck protection program loan amount

$ 4.6

Number of paycheck protection program loans | Loan

3

Paycheck protection program loan amount outstanding

$ 2.5

$ 7.6

Promissory Note [Member] | Operating Partnership [Member]

Debt Instrument [Line Items]

Paycheck protection program loan amount

$ 10.7

Debt - Schedule of Mortgage Deb

Debt - Schedule of Mortgage Debt Obligations on Hotels (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Mortgage loans	$ 321,895,316	$ 352,625,640
Deferred financing costs, net	(1,480,779)	(1,547,004)
Unamortized premium on loan	67,566	92,247
Total Mortgage Loans, Net	320,482,103	351,170,883
The DeSoto [Member] | Mortgage Loans [Member]
Debt Instrument [Line Items]
Mortgage loans	$ 31,219,022	32,148,819
Prepayment Penalties	Yes
Maturity Date	Jul. 01, 2026
Amortization Provisions, Term	25 years
Interest rate applicable to the mortgage loan	4.25%
Double Tree By Hilton Jacksonville Riverfront | Mortgage Loans [Member]
Debt Instrument [Line Items]
Mortgage loans	$ 32,416,570	33,051,316
Prepayment Penalties	Yes
Maturity Date	Jul. 11, 2024
Amortization Provisions, Term	30 years
Interest rate applicable to the mortgage loan	4.88%
Double Tree By Hilton Laurel [Member] | Mortgage Loans [Member]
Debt Instrument [Line Items]
Mortgage loans	$ 7,412,107	8,175,215
Prepayment Penalties	None
Maturity Date	May 05, 2023
Amortization Provisions, Term	25 years
Interest rate applicable to the mortgage loan	5.25%
DoubleTree by Hilton Philadelphia Airport [Member] | Mortgage Loans [Member]
Debt Instrument [Line Items]
Mortgage loans	$ 39,413,672	40,734,077
Prepayment Penalties	None
Maturity Date	Oct. 31, 2023
Amortization Provisions, Term	30 years
Interest rate applicable to the mortgage loan	2.27%
Double Tree By Hilton Raleigh Brownstone University | Mortgage Loans [Member]
Debt Instrument [Line Items]
Mortgage loans		18,300,000
Prepayment Penalties	Yes
Maturity Date	Aug. 01, 2022
Interest rate applicable to the mortgage loan	4%
DoubleTree Resort by Hilton Hollywood Beach [Member] | Mortgage Loans [Member]
Debt Instrument [Line Items]
Mortgage loans	$ 52,724,475	54,253,963
Maturity Date	Oct. 01, 2025
Amortization Provisions, Term	30 years
Interest rate applicable to the mortgage loan	4.913%
Georgian Terrace [Member] | Mortgage Loans [Member]
Debt Instrument [Line Items]
Mortgage loans	$ 40,492,622	41,484,732
Maturity Date	Jun. 01, 2025
Amortization Provisions, Term	30 years
Interest rate applicable to the mortgage loan	4.42%
Hotel Alba Tampa, Tapestry Collection by Hilton [Member] | Mortgage Loans [Member]
Debt Instrument [Line Items]
Mortgage loans	$ 24,756,400	17,383,397
Prepayment Penalties	None
Maturity Date	Jun. 30, 2025
Interest rate applicable to the mortgage loan	2.75%
Hotel Ballast Wilmington,Tapestry Collection by Hilton [Member] | Mortgage Loans [Member]
Debt Instrument [Line Items]
Mortgage loans	$ 31,699,775	32,604,948
Prepayment Penalties	Yes
Maturity Date	Jan. 01, 2027
Amortization Provisions, Term	25 years
Interest rate applicable to the mortgage loan	4.25%
Hyatt Centric Arlington [Member] | Mortgage Loans [Member]
Debt Instrument [Line Items]
Mortgage loans	$ 47,534,606	48,990,136
Prepayment Penalties	Yes
Maturity Date	Oct. 01, 2028
Amortization Provisions, Term	30 years
Interest rate applicable to the mortgage loan	5.25%
Sheraton Louisville Riverside [Member] | Mortgage Loans [Member]
Debt Instrument [Line Items]
Mortgage loans		10,947,366
Prepayment Penalties	Yes
Maturity Date	Dec. 01, 2026
Amortization Provisions, Term	25 years
Interest rate applicable to the mortgage loan	4.27%
The Whitehall [Member] | Mortgage Loans [Member]
Debt Instrument [Line Items]
Mortgage loans	$ 14,226,067	$ 14,551,671
Prepayment Penalties	None
Maturity Date	Feb. 26, 2028
Amortization Provisions, Term	25 years
Interest rate applicable to the mortgage loan	1.25%

Debt - Schedule of Mortgage D_2

Debt - Schedule of Mortgage Debt Obligations on Hotels (Parenthetical) (Detail) - USD ($)					12 Months Ended
	Apr. 28, 2022	Apr. 27, 2022	Jul. 15, 2021	Jul. 14, 2021	Dec. 31, 2022	Dec. 31, 2021
LIBOR [Member]
Debt Instrument [Line Items]
Interest rate caps for loan					3.25%	3.25%
DoubleTree by Hilton Philadelphia Airport [Member]
Debt Instrument [Line Items]
Loan rate swapped for fixed interest rate					5.237%	5.237%
Mortgage Loans [Member] | The DeSoto [Member]
Debt Instrument [Line Items]
Amortization Period					25 years
Interest-only payment period					1 year
Period before maturity in which prepayment is allowed with out penalty					120 days
Maturity Date					Jul. 01, 2026
Interest rate applicable to the mortgage loan					4.25%
Mortgage Loans [Member] | Double Tree By Hilton Jacksonville Riverfront
Debt Instrument [Line Items]
Amortization Period					30 years
Prepayment date before maturity in which prepayment is allowed with penalty					2024-03
Maturity Date					Jul. 11, 2024
Interest rate applicable to the mortgage loan					4.88%
Mortgage Loans [Member] | Double Tree By Hilton Laurel [Member]
Debt Instrument [Line Items]
Amortization Period					25 years
Extended maturity date	May 05, 2023	May 05, 2022	May 05, 2022	Aug. 05, 2021
Maturity Date					May 05, 2023
Interest rate applicable to the mortgage loan					5.25%
Mortgage Loans [Member] | Double Tree By Hilton Laurel [Member] | Prepayment Penalty on or After February 5, 2023 [Member]
Debt Instrument [Line Items]
Exit fee					0.75%
Mortgage Loans [Member] | DoubleTree by Hilton Philadelphia Airport [Member]
Debt Instrument [Line Items]
Amortization Period					30 years
Floating interest rate period					1 month
Maturity Date					Oct. 31, 2023
Interest rate applicable to the mortgage loan					2.27%
Mortgage Loans [Member] | DoubleTree by Hilton Philadelphia Airport [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Excess Interest rate on mortgage debt					2.27%
Mortgage Loans [Member] | DoubleTree by Hilton Philadelphia Airport [Member] | Interest Rate Swap [Member]
Debt Instrument [Line Items]
Loan rate swapped for fixed interest rate					5.237%
Maturity Date					Jul. 31, 2023
Mortgage Loans [Member] | Double Tree By Hilton Raleigh Brownstone University
Debt Instrument [Line Items]
Maturity Date					Aug. 01, 2022
Interest rate applicable to the mortgage loan					4%
Mortgage Loans [Member] | DoubleTree Resort by Hilton Hollywood Beach [Member]
Debt Instrument [Line Items]
Amortization Period					30 years
Maturity Date					Oct. 01, 2025
Prepayment date before maturity					2025-06
Interest rate applicable to the mortgage loan					4.913%
Mortgage Loans [Member] | Georgian Terrace [Member]
Debt Instrument [Line Items]
Amortization Period					30 years
Maturity Date					Jun. 01, 2025
Prepayment date before maturity					2025-02
Interest rate applicable to the mortgage loan					4.42%
Mortgage Loans [Member] | Hotel Alba Tampa, Tapestry Collection by Hilton [Member]
Debt Instrument [Line Items]
Maturity Date					Jun. 30, 2025
Fixed interest rate					2.75%
Debt instrument periodic payment					$ 40,600
Interest rate applicable to the mortgage loan					2.75%
Mortgage Loans [Member] | Hotel Alba Tampa, Tapestry Collection by Hilton [Member] | SOFR [Member]
Debt Instrument [Line Items]
Excess Interest rate on mortgage debt					2.75%
Mortgage Loans [Member] | Hotel Alba Tampa, Tapestry Collection by Hilton [Member] | Interest Rate Swap [Member]
Debt Instrument [Line Items]
Loan rate swapped for fixed interest rate					5.576%
Mortgage Loans [Member] | Hotel Ballast Wilmington,Tapestry Collection by Hilton [Member]
Debt Instrument [Line Items]
Amortization Period					25 years
Interest-only payment period					1 year
Period before maturity in which prepayment is allowed with out penalty					120 days
Maturity Date					Jan. 01, 2027
Interest rate applicable to the mortgage loan					4.25%
Mortgage Loans [Member] | Hyatt Centric Arlington [Member]
Debt Instrument [Line Items]
Amortization Period					30 years
Maturity Date					Oct. 01, 2028
Debt instrument prepayment lockout period					5 years
Debt instrument prepayment without penalty period during final term					4 months
Interest rate applicable to the mortgage loan					5.25%
Mortgage Loans [Member] | Hyatt Centric Arlington [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt instrument prepayment penalty period					6 years
Mortgage Loans [Member] | Hyatt Centric Arlington [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt instrument prepayment penalty period					10 years
Mortgage Loans [Member] | Sheraton Louisville Riverside [Member]
Debt Instrument [Line Items]
Amortization Period					25 years
Maturity Date					Dec. 01, 2026
Interest rate applicable to the mortgage loan					4.27%
Mortgage Loans [Member] | The Whitehall [Member]
Debt Instrument [Line Items]
Amortization Period					25 years
Maturity Date					Feb. 26, 2028
Interest rate applicable to the mortgage loan					1.25%
Mortgage Loans [Member] | The Whitehall [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Excess Interest rate on mortgage debt					1.25%
Fixed interest rate					7.50%

Debt - Schedule of Future Mortg

Debt - Schedule of Future Mortgage Debt Maturities (Detail) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Debt Disclosure [Abstract]
December 31, 2023	$ 53,555,486
December 31, 2024	38,069,572
December 31, 2025	116,084,892
December 31, 2026	58,588,970
December 31, 2027	1,757,220
December 31, 2028 and thereafter	53,839,176
Total future maturities	$ 321,895,316	$ 352,625,640

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail)				1 Months Ended	2 Months Ended	12 Months Ended
	Jan. 01, 2020 USD ($)	Sep. 26, 2019 USD ($) RenewalPeriod	Mar. 01, 2018 USD ($) RenewalPeriod	Dec. 31, 2019 USD ($) ft²	Feb. 28, 2017 USD ($) shares	Dec. 31, 2022 USD ($) ft² Hotel	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 29, 2016 USD ($)
Operating Leased Assets [Line Items]
Maximum amount allocated to purchase common stock under ESOP									$ 5,000,000
Number of common stock, shares purchased | shares					682,500
Purchased common stock, value					$ 4,900,000
Hotel Ballast [Member]
Operating Leased Assets [Line Items]
Monthly contribution of room revenues						4%
Restricted cash reserve						amount equal to one-twelfth (1/12) of the annual real estate taxes due for the properties
The DeSoto [Member]
Operating Leased Assets [Line Items]
Monthly contribution of room revenues						4%
Restricted cash reserve						amount equal to one-twelfth (1/12) of the annual real estate taxes due for the properties
DoubleTree by Hilton Brownstone-University [Member]
Operating Leased Assets [Line Items]
Monthly contribution of room revenues						4%
Restricted cash reserve						amount equal to one-twelfth (1/12) of the annual real estate taxes due for the properties
Double Tree by Hilton Jacksonville Riverfront [Member]
Operating Leased Assets [Line Items]
Monthly contribution of room revenues						4%
Restricted cash reserve						amount equal to one-twelfth (1/12) of the annual real estate taxes due for the properties
DoubleTree Resort by Hilton Hollywood Beach [Member]
Operating Leased Assets [Line Items]
Monthly contribution of room revenues						4%
Restricted cash reserve						amount equal to one-twelfth (1/12) of the annual real estate taxes due for the properties
Whitehall [Member]
Operating Leased Assets [Line Items]
Monthly contribution of room revenues						4%
Georgian Terrace [Member]
Operating Leased Assets [Line Items]
Monthly contribution of room revenues						4%
Restricted cash reserve						amount equal to one-twelfth (1/12) of the annual real estate taxes due for the properties
DoubleTree by Hilton Philadelphia Airport [Member]
Operating Leased Assets [Line Items]
Monthly contribution of room revenues						4%
Minimum [Member]
Operating Leased Assets [Line Items]
Franchise fees of room revenues						3%
Additional fees of gross revenues from the hotels						3%
Franchise agreement expiry date						2024-10
Maximum [Member]
Operating Leased Assets [Line Items]
Franchise fees of room revenues						5%
Additional fees of gross revenues from the hotels						4%
Franchise agreement expiry date						2038-03
Maximum [Member] | ESOP [Member]
Operating Leased Assets [Line Items]
Borrowed amount									$ 5,000,000
Chesapeake Hospitality [Member] | Individual Hotel Management Agreements [Member]
Operating Leased Assets [Line Items]
Master management agreement expiration date						Mar. 31, 2035
Number of wholly-owned hotels operated under master management agreement | Hotel						10
Number of condominium resort rental programs | Hotel						2
Expiry date of master management agreement						on March 31, 2035 and may be extended for up to two additional periods of five years each, subject to the approval of both parties
Hyatt Centric Arlington [Member]
Operating Leased Assets [Line Items]
Monthly contribution of room revenues						4%
Restricted cash reserve						amount equal to one-twelfth (1/12) of the annual real estate taxes due for the properties
Hyatt Centric Arlington [Member] | Franchise Agreement with Affiliate of Hyatt Hotels Corporation Operating as Hyatt Centric Arlington [Member]
Operating Leased Assets [Line Items]
Rent expense						$ 501,042	$ 232,588	$ 153,019
Rental payments per year in base rent under ground lease			$ 50,000
Ground lease percentage rent on gross rooms revenues in excess of thresholds			3.50%
Initial term of ground lease expires year			2025
Number of renewal periods exercised under ground lease | RenewalPeriod			5
Duration period under ground lease for each renewal periods exercised			10 years
Hyde Beach House [Member] | Management Agreement for Parking Garage and Poolside [Member]
Operating Leased Assets [Line Items]
Rent expense						$ 271,000	271,000	85,166
Annual payment		$ 270,100
Initial term of agreement		20 years
Lessee, operating lease expiration year		2039
Lessee, operating lease, existence of option to extend [true false]		true
Lessee, operating lease, option to extend						The initial term of the parking garage and cabana lease expires in 2039 and may be extended for four additional renewal periods of 5 years each.
Number of additional renewal periods | RenewalPeriod		4
Additional renewal of agreement		5 years
Williamsburg Virginia [Member]
Operating Leased Assets [Line Items]
Area of commercial space leased | ft²				8,500
Rent expense	$ 218,875
Commencement date of agreement				Jan. 01, 2020
Lease rent increase each successive period percentage				3%
Tenant improvement allowance				$ 200,000
The DeSoto Hotel Property [Member]
Operating Leased Assets [Line Items]
Area of commercial space leased | ft²						2,086
Operating lease, expiring date						Oct. 31, 2006
Expiration date three under renewal option second						Oct. 31, 2026
Rent expense						$ 83,932	83,932	74,809
Hotel Alba Tampa, Tapestry Collection by Hilton [Member]
Operating Leased Assets [Line Items]
Rent expense						$ 2,608	2,575	2,604
Commencement date of agreement						2019-07
Operating lease, expiring date						2024-07
Annual payment						$ 2,432
Additional renewal of agreement						5 years
8,500 Square Feet of Commercial Office Space [Member] | Williamsburg Virginia [Member]
Operating Leased Assets [Line Items]
Rent expense						$ 223,607	$ 223,607	$ 223,607
Furniture, Fixtures and Equipment [Member]
Operating Leased Assets [Line Items]
Financing arrangement expiration date						2027-12
Ninety Nine Year Operating Lease Property [Member] | Savannah Hotel Property [Member]
Operating Leased Assets [Line Items]
Operating lease, expiring date						Jul. 31, 2086
Rental income recognized during period						$ 0
Original lump sum rent payment received						$ 990

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of Minimum Future Lease Payments (Detail)	Dec. 31, 2022 USD ($)
Finance Lease Liabilities Payments Due [Abstract]
December 31, 2023	$ 675,927
December 31, 2024	678,300
December 31, 2025	683,348
December 31, 2026	673,413
December 31, 2027	342,503
December 31, 2028 and thereafter	13,512,577
Total	$ 16,566,068

Preferred Stock and Units - Add

Preferred Stock and Units - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Preferred Units [Line Items]
Preferred stock, shares authorized	11,000,000	11,000,000
Preferred stock, liquidation preference per share	$ 25	$ 25
Preferred stock amount of undeclared and cumulative preferred dividends	$ 21.9
Preferred units amount of undeclared and cumulative preferred dividends	$ 21.9
Sotherly Hotels LP [Member]
Preferred Units [Line Items]
Preferred stock, liquidation preference per share	$ 25	$ 25
Sotherly Hotels LP [Member] | 8.25% Series D Cumulative Redeemable Perpetual Preferred Units [Member]
Preferred Units [Line Items]
Preferred units, dividend rate percentage	8.25%
Sotherly Hotels LP [Member] | 7.875% Series C Cumulative Redeemable Perpetual Preferred Units [Member]
Preferred Units [Line Items]
Preferred units, dividend rate percentage	7.875%
8.25% Series D Cumulative Redeemable Perpetual Preferred Stock [Member]
Preferred Units [Line Items]
Preferred stock, shares authorized	11,000,000	11,000,000
Preferred stock, liquidation preference per share	$ 25
Preferred stock, shares issued	1,163,100	1,165,000
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, dividend rate percentage	8.25%	8.25%
8.25% Series D Cumulative Redeemable Perpetual Preferred Stock [Member] | Sotherly Hotels LP [Member]
Preferred Units [Line Items]
Preferred units, dividend rate percentage	8.25%	8.25%
7.875% Series C Cumulative Redeemable Perpetual Preferred Stock [Member]
Preferred Units [Line Items]
Preferred stock, shares authorized	11,000,000	11,000,000
Preferred stock, liquidation preference per share	$ 25
Preferred stock, shares issued	1,346,110	1,384,610
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, dividend rate percentage	7.875%	7.875%
7.875% Series C Cumulative Redeemable Perpetual Preferred Stock [Member] | Sotherly Hotels LP [Member]
Preferred Units [Line Items]
Preferred units, dividend rate percentage	7.875%	7.875%

Preferred Stock and Units - Sch

Preferred Stock and Units - Schedule of Series of Cumulative Redeemable Perpetual Preferred Stock (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Class Of Stock [Line Items]
Preferred Stock, Liquidation Preference	$ 25	$ 25
8.0% Series B Cumulative Redeemable Perpetual Preferred Stock [Member]
Class Of Stock [Line Items]
Preferred Stock, Per Annum Rate	8%	8%
Preferred Stock, Liquidation Preference	$ 25
Preferred Stock, Shares Issued	1,464,100	1,510,000
Preferred Stock, Number of Shares Outstanding	1,464,100	1,510,000
Preferred Stock, Quarterly Distributions Per Share	$ 0.500000
7.875% Series C Cumulative Redeemable Perpetual Preferred Stock [Member]
Class Of Stock [Line Items]
Preferred Stock, Per Annum Rate	7.875%	7.875%
Preferred Stock, Liquidation Preference	$ 25
Preferred Stock, Shares Issued	1,346,110	1,384,610
Preferred Stock, Number of Shares Outstanding	1,346,110	1,384,610
Preferred Stock, Quarterly Distributions Per Share	$ 0.492188
8.25% Series D Cumulative Redeemable Perpetual Preferred Stock [Member]
Class Of Stock [Line Items]
Preferred Stock, Per Annum Rate	8.25%	8.25%
Preferred Stock, Liquidation Preference	$ 25
Preferred Stock, Shares Issued	1,163,100	1,165,000
Preferred Stock, Number of Shares Outstanding	1,163,100	1,165,000
Preferred Stock, Quarterly Distributions Per Share	$ 0.515625

Preferred Stock and Units - S_2

Preferred Stock and Units - Schedule of Series of Cumulative Redeemable Perpetual Preferred Units (Detail) - Sotherly Hotels LP [Member] - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
8% Series B Cumulative Redeemable Perpetual Preferred Units [Member]
Preferred Units [Line Items]
Preferred Units, Per Annum Rate	8%
Preferred Units, Liquidation Preference	$ 25
Preferred Units, Number of Units Issued	1,464,100	1,510,000
Preferred Units, Number of Units Outstanding	1,464,100	1,510,000
Preferred Units, Quarterly Distributions Per Unit	$ 0.500000
7.875% Series C Cumulative Redeemable Perpetual Preferred Units [Member]
Preferred Units [Line Items]
Preferred Units, Per Annum Rate	7.875%
Preferred Units, Liquidation Preference	$ 25
Preferred Units, Number of Units Issued	1,346,110	1,384,610
Preferred Units, Number of Units Outstanding	1,346,110	1,384,610
Preferred Units, Quarterly Distributions Per Unit	$ 0.492188
8.25% Series D Cumulative Redeemable Perpetual Preferred Units [Member]
Preferred Units [Line Items]
Preferred Units, Per Annum Rate	8.25%
Preferred Units, Liquidation Preference	$ 25
Preferred Units, Number of Units Issued	1,163,100	1,165,000
Preferred Units, Number of Units Outstanding	1,163,100	1,165,000
Preferred Units, Quarterly Distributions Per Unit	$ 0.515625

Preferred Stock and Units - Qua

Preferred Stock and Units - Quarterly Distributions Declared and Payable by Operating Partnership (Detail) - Sotherly Hotels LP [Member]	3 Months Ended
	Mar. 31, 2020 $ / shares
8% Series B Cumulative Redeemable Perpetual Preferred Units [Member]
Class Of Stock [Line Items]
Preferred Stock, Quarterly Distributions Per Share	$ 0.500000
7.875% Series C Cumulative Redeemable Perpetual Preferred Units [Member]
Class Of Stock [Line Items]
Preferred Stock, Quarterly Distributions Per Share	0.492188
8.25% Series D Cumulative Redeemable Perpetual Preferred Units [Member]
Class Of Stock [Line Items]
Preferred Stock, Quarterly Distributions Per Share	$ 0.515625

Preferred Stock and Units - Q_2

Preferred Stock and Units - Quarterly Distributions Declared and Payable by Operating Partnership (Parenthetical) (Detail)	12 Months Ended
	Dec. 31, 2022 $ / shares
8.25% Series D Cumulative Redeemable Perpetual Preferred Stock [Member]
Class Of Stock [Line Items]
Preferred Stock, Quarterly Distributions Per Share	$ 0.515625

Common Stock and Units - Additi

Common Stock and Units - Additional Information (Detail)																					12 Months Ended			14 Months Ended	24 Months Ended
	Nov. 01, 2022 shares	Aug. 23, 2022 shares	Aug. 18, 2022 shares	Jul. 01, 2022 shares	May 19, 2022 shares	Apr. 19, 2022 shares	Apr. 11, 2022 shares	Mar. 31, 2022 shares	Mar. 24, 2022 shares	Jan. 21, 2022 shares	Dec. 16, 2021 shares	Dec. 09, 2021 shares	Dec. 03, 2021 shares	Jun. 21, 2021 shares	Feb. 04, 2021 shares	Dec. 17, 2020 shares	Dec. 01, 2020 shares	May 01, 2020 shares	Feb. 23, 2020 shares	Jan. 01, 2020 shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) $ / shares shares	Dec. 31, 2020 shares	Aug. 24, 2022 shares	Dec. 31, 2021 USD ($) $ / shares shares	Jul. 21, 2022 shares	May 23, 2022 shares	Feb. 15, 2022 shares
Class of Stock [Line Items]
Common stock, shares authorized																					69,000,000	69,000,000			69,000,000
Common stock, par value | $ / shares																					$ 0.01	$ 0.01			$ 0.01
Voting right																					Each outstanding share of common stock entitles the holder to one vote on all matters submitted to a vote of stockholders.
Common stock, shares outstanding																					18,951,525	17,441,058			17,441,058
Common stock exchange ratio																					1
Redemption of units in operating partnership																									0
Operating partnership units converted	217,845			40,687	50,000
Operating Partnership common units not owned																					825,188	1,133,720			1,133,720
Unpaid common dividends and distributions amount to holders | $																					$ 2,088,160
Sotherly Hotels LP [Member]
Class of Stock [Line Items]
Operating Partnership common units outstanding																					19,776,713	18,574,778			18,574,778
Fair market value | $																					$ 1,500,000	$ 2,400,000			$ 2,400,000
Series C Preferred Stock [Member]
Class of Stock [Line Items]
Number of shares exchanged in agreement																								208,500
Series B Preferred Stock [Member]
Class of Stock [Line Items]
Number of shares exchanged in agreement																								145,900
Series D Preferred Stock [Member]
Class of Stock [Line Items]
Number of shares exchanged in agreement																								36,900
Privately Negotiated Share Exchange Agreement [Member] | Series C Preferred Stock [Member]
Class of Stock [Line Items]
Number of shares exchanged in agreement		3,200	7,100			10,600	8,000	6,600	3,000			75,000	10,000	85,000
Privately Negotiated Share Exchange Agreement [Member] | Series B Preferred Stock [Member]
Class of Stock [Line Items]
Number of shares exchanged in agreement		13,000	11,000			5,000	4,000	5,900	7,000					100,000
Privately Negotiated Share Exchange Agreement [Member] | Series D Preferred Stock [Member]
Class of Stock [Line Items]
Number of shares exchanged in agreement			1,900											35,000
Common Stock [Member]
Class of Stock [Line Items]
Conversion of units in Operating Partnership to shares of common stock, shares											32,681				100		15,000	57,687		488,952	308,532	32,781	561,639
Number of shares exchanged in agreement																					395,086	151,281		30,393,995
Unrestricted shares issued															136,281				2,250							167,390	37,428	175,268
Number of issued unit in Operating Partnership																			15,000	45,000
Restricted shares issued																			17,250	45,000			187,583
Common Stock [Member] | Sotherly Hotels LP [Member]
Class of Stock [Line Items]
Number of issued unit in Operating Partnership										15,000					15,000	127,583
Common Stock [Member] | Privately Negotiated Share Exchange Agreement [Member]
Class of Stock [Line Items]
Number of shares exchanged in agreement		140,130	178,800			153,504	116,640	120,875	96,900			620,919	69,500	1,542,727

Common Stock and Units - Quarte

Common Stock and Units - Quarterly Stock Dividends and Unit Distributions Declared and Payable Per Common Stock/Unit (Detail)	Mar. 31, 2020 $ / shares
Sotherly Hotels LP [Member]
Class of Stock [Line Items]
Dividends payable amount per share	$ 0.130

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail)

3 Months Ended

9 Months Ended

12 Months Ended

Jul. 01, 2022 shares

May 19, 2022 shares

Dec. 16, 2021 shares

Jun. 04, 2021 USD ($)

Feb. 04, 2021 shares

Dec. 01, 2020 shares

May 01, 2020 shares

Apr. 01, 2020

Jan. 01, 2020 USD ($) Hotel shares

Dec. 13, 2019 USD ($) ft² Resort Hotel

Dec. 31, 2022 USD ($)

Sep. 30, 2022 USD ($)

Jun. 30, 2022 USD ($)

Mar. 31, 2022 USD ($)

Dec. 31, 2021 USD ($)

Sep. 30, 2021 USD ($)

Jun. 30, 2021 USD ($)

Mar. 31, 2021 USD ($)

Sep. 30, 2022 USD ($)

Dec. 31, 2022 USD ($) shares

Dec. 31, 2021 USD ($) shares

Dec. 31, 2020 USD ($) shares

Dec. 31, 2019

Oct. 31, 2019

Related Party Transaction [Line Items]

Operating Income (Loss)

$ 5,141,325

$ 3,288,996

$ 8,199,288

$ 3,925,204

$ (11,902,483)

$ 2,786,602

$ 3,143,151

$ (2,082,276)

$ 20,554,813

$ (8,055,006)

$ (29,749,670)

Common Stock [Member]

Related Party Transaction [Line Items]

Conversion of units in Operating Partnership to shares of common stock, shares | shares

32,681

100

15,000

57,687

488,952

308,532

32,781

561,639

Common Stock [Member] | Chairman [Member]

Related Party Transaction [Line Items]

Conversion of units in Operating Partnership to shares of common stock, shares | shares

32,681

Common Stock [Member] | Sibling of chairman [Member]

Related Party Transaction [Line Items]

Conversion of units in Operating Partnership to shares of common stock, shares | shares

57,867

410,000

Common Stock [Member] | Trust in which Chairman has Potential Beneficial Interest [Member]

Related Party Transaction [Line Items]

Conversion of units in Operating Partnership to shares of common stock, shares | shares

40,687

50,000

OTH Master Agreement [Member]

Related Party Transaction [Line Items]

Operating Income (Loss)

$ 250,000

Percentage of management fee due

2.50%

2.50%

Management fee of gross revenues for first full fiscal year

2%

2%

Management fee of gross revenues for second full fiscal year

2.25%

2.25%

Management fee of gross revenues for every year thereafter

2.50%

2.50%

Our Town Hospitality [Member]

Related Party Transaction [Line Items]

Accounts receivable - affiliate

$ 300,000

200,000

$ 300,000

$ 200,000

Accounts payable - affiliate

$ 1,300,000

$ 1,000,000

$ 1,300,000

1,000,000

Guaranteed minimum incentive management fee in satisfaction of remainder of unrepaid management fee advances

250,000

Our Town Hospitality [Member] | Master Agreement [Member]

Related Party Transaction [Line Items]

Number of rental programs | Resort

2

Our Town Hospitality [Member] | Credit Agreement in Partial Satisfaction [Member]

Related Party Transaction [Line Items]

Working capital and management fee advances

$ 299,900

Chesapeake Hospitality [Member]

Related Party Transaction [Line Items]

Expire date of remaining individual hotels

Apr. 01, 2020

Andrew M. Sims [Member] | Our Town Hospitality [Member]

Related Party Transaction [Line Items]

Percentage of total outstanding ownership interests

63%

63%

Andrew M. Sims [Member] | Chesapeake Hospitality [Member]

Related Party Transaction [Line Items]

Percentage of total outstanding ownership interests

19.30%

David R. Folsom [Member] | Our Town Hospitality [Member]

Related Party Transaction [Line Items]

Percentage of total outstanding ownership interests

7%

7%

Andrew M. Sims Jr [Member] | Our Town Hospitality [Member]

Related Party Transaction [Line Items]

Percentage of total outstanding ownership interests

15%

15%

Our Town Hospitality [Member]

Related Party Transaction [Line Items]

Area of office space subleased | ft²

2,245

Sublease term

5 years

Additional renewal of agreement

5 years

Lessee, operating lease, existence of option to extend [true false]

true

Lease payments due

$ 159,734

144,452

Maximum amount of credit available capped

894,900

Total amount of advances

$ 894,900

Additional advances allowed

$ 0

Maturity date extended period

Dec. 31, 2026

Line of credit facility, interest rate at period

3.50%

Employee medical benefits paid

2,700,000

Incentive management fees expense by related party

$ 300,000

300,000

Our Town Hospitality [Member] | December 31, 2021 [Member]

Related Party Transaction [Line Items]

Principal payments

100,000

Our Town Hospitality [Member] | December 31, 2022 [Member]

Related Party Transaction [Line Items]

Principal payments

100,000

Our Town Hospitality [Member] | December 31, 2023 [Member]

Related Party Transaction [Line Items]

Principal payments

100,000

Our Town Hospitality [Member] | December 31, 2024 [Member]

Related Party Transaction [Line Items]

Principal payments

100,000

Our Town Hospitality [Member] | December 31, 2025 [Member]

Related Party Transaction [Line Items]

Principal payments

100,000

Our Town Hospitality [Member] | Maximum [Member]

Related Party Transaction [Line Items]

Working capital line of credit

$ 500,000

Our Town Hospitality [Member] | Master Agreement [Member]

Related Party Transaction [Line Items]

Base management fees earned by related party

4,100,000

3,400,000

Our Town Hospitality [Member] | OTH Master Agreement [Member]

Related Party Transaction [Line Items]

Number of wholly owned hotels | Hotel

10

Percentage of reduction in payable fees

25%

Termination fees due

$ 300,000

300,000

Our Town Hospitality [Member] | OTH Master Agreement [Member] | Maximum [Member]

Related Party Transaction [Line Items]

Initial working capital

$ 1,000,000

Chesapeake Hospitality [Member]

Related Party Transaction [Line Items]

Employee medical benefits paid

3,200,000

Expire date of wholly-owned hotels

Jan. 01, 2020

Number of wholly-owned hotels expired | Hotel

10

Termination fees paid

$ 200,000

Base management and administrative fees earned by related party

$ 0

0

$ 241,332

Incentive management fees expense by related party

0

0

(40,375)

Immediate Family Members of Chairman [Member]

Related Party Transaction [Line Items]

Total compensation for related parties

$ 605,163

$ 462,809

$ 464,218

Retirement Plans - Additional I

Retirement Plans - Additional Information (Detail) - USD ($)		2 Months Ended	12 Months Ended
	May 15, 2020	Feb. 28, 2017	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 29, 2016
Retirement Benefits [Abstract]
Deferral equal to 3.0% of eligible employee compensation	100%
Deferral equal to the next 2.0% of eligible employee compensation	50%
Percentage of deferral equal to eligible employee compensation	3%
Percentage of next specified deferral equal to eligible employee compensation	2%
Percentage of discretionary contribution eligible employee compensation				3%
Contribution for retirement plan			$ 75,631	$ 53,474	$ 42,841
Maximum amount allocated to purchase common stock under ESOP						$ 5,000,000
Number of common stock, shares purchased		682,500
Purchased common stock, value		$ 4,900,000
Total number of ESOP shares			301,646	247,606
Fair value of ESOP released from suspense account and recognized compensation cost			$ 545,979	$ 517,496
Compensation cost recognized			$ 140,703	$ 172,000	$ 175,367
Number of non committed, unearned ESOP shares			364,177	431,697	509,069
Fair value of unallocated ESOP shares			$ 659,160	$ 902,247
Number of ESOP shares allocated			301,646	247,606
Number of ESOP shares committed to be released			0

Retirement Plans - Summary of S

Retirement Plans - Summary of Shares Allocations are Accounted For Fair Value on The Date of Allocations (Detail) - USD ($)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Retirement Benefits [Abstract]
Number of ESOP shares allocated	301,646	247,606
Number of ESOP shares committed to be released	0
Total number of ESOP allocated and committed-to-be-released	301,646	247,606
Number of non committed, unearned ESOP shares	364,177	431,697	509,069
Total number of ESOP shares	665,823	679,303
Fair value of ESOP allocated shares	$ 545,979	$ 517,496
Total fair value of ESOP allocated and committed-to-be-released	545,979	517,496
Fair value of ESOP unallocated shares	659,160	902,247
Total fair value of ESOP shares	$ 1,205,139	$ 1,419,743

Indirect Hotel Operating Expe_3

Indirect Hotel Operating Expenses - Summary of Indirect Hotel Operating Expenses (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	$ 64,811,567	$ 55,100,245	$ 45,487,308
Sales and Marketing [Member]
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	15,062,397	11,684,933	8,094,085
General and Administrative [Member]
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	13,436,054	10,533,201	10,542,495
Repairs and Maintenance [Member]
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	8,723,144	7,362,334	5,490,145
Utilities [Member]
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	5,649,716	5,309,637	4,817,508
Property Taxes [Member]
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	5,254,075	6,131,271	7,014,472
Management Fees, Including Incentive [Member]
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	4,377,814	3,620,071	1,822,359
Franchise Fees [Member]
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	4,059,709	3,321,352	2,042,902
Insurance [Member]
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	4,082,551	3,596,153	3,097,245
Information and Telecommunications [Member]
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	3,378,716	3,048,495	2,271,266
Other [Member]
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	$ 787,391	$ 492,798	$ 294,831

Income Taxes - Components of In

Income Taxes - Components of Income Tax Provision (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Current:
Federal			$ (125,587)
State	$ 522,355	$ 27,392	(6,054)
Total	522,355	27,392	(131,641)
Deferred:
Federal	3,025,518	(149,704)	(7,576,931)
State	695,708	(38,580)	(1,705,939)
Subtotals	3,721,226	(188,284)	(9,282,870)
Change in deferred tax valuation allowance	(3,721,226)	188,284	14,694,954
Deferred income taxes			5,412,084
Income tax (benefit) provision	$ 522,355	$ 27,392	$ 5,280,443

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Statutory Federal Income Tax Provision (Benefit) (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Statutory federal income tax provision (benefit)	$ 7,241,263	$ (5,987,572)	$ (10,164,517)
Federal tax impact of REIT election	(3,255,236)	5,851,466	2,530,482
Federal impact of PPP loan forgiveness	(966,584)
State income tax provision (benefit), net of federal provision (benefit)	1,224,138	(24,786)	(1,780,476)
Change in valuation allowance	(3,721,226)	188,284	14,694,954
Income tax (benefit) provision	522,355	27,392	5,280,443
TRS [Member]
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Statutory federal income tax provision (benefit)	$ 3,986,027	$ (136,106)	$ (7,634,035)

Income Taxes - Schedule of Sign

Income Taxes - Schedule of Significant Components of Deferred Tax Asset (Detail) - USD ($)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Deferred tax asset:
Net operating loss carryforwards	$ 10,744,121	$ 14,287,318	$ 14,409,321
Accrued compensation	425,575	338,033	108,646
Accrued expenses and other		247,037	128,318
Intangible assets	10,092	28,627	48,670
Less: Valuation allowance	$ (11,179,788)	$ (14,901,015)	$ (14,694,955)

Earnings (Loss) per Share and_3

Earnings (Loss) per Share and per Unit - Additional Information (Detail) - shares	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Earnings Per Share [Abstract]
Number of non-committed, unearned ESOP shares	364,177	431,697	509,069

Earnings (Loss) per Share and_4

Earnings (Loss) per Share and per Unit - Computation of Basic Net Earnings (Loss) Per Share (Detail) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Numerator
Net income (loss)	$ 5,192,870	$ 1,972,563	$ 27,605,359	$ (810,944)	$ (16,881,825)	$ (2,528,221)	$ (1,553,970)	$ (7,575,624)	$ 33,959,848	$ (28,539,640)	$ (53,682,905)
Less: Net income allocated to participating share awards									(113,405)
Net (income) loss attributable to non-controlling interest									1,423,327	(2,318,166)	(4,489,341)
Declared and undeclared distributions to preferred stockholders									(7,634,219)	(7,541,891)	(8,755,642)
Gain on extinguishment of preferred stock									64,518	361,476
Net income (loss) attributable to common stockholders for EPS computation									$ 24,853,415	$ (33,401,889)	$ (57,949,206)
Denominator
Weighted average number common shares outstanding for basic EPS computation									17,802,772	15,531,684	14,312,049
Weighted average number common and common equivalent shares outstanding for diluted EPS computation									17,802,772	15,531,684	14,312,049
Basic net income (loss) per common share:
Undistributed income (loss)									$ 1.40	$ (2.15)	$ (4.05)
Total basic	$ 0.18	$ 0.01	$ 1.36	$ (0.15)	$ (1.05)	$ (0.27)	$ (0.19)	$ (0.62)	1.40	(2.15)	(4.05)
Diluted net income (loss) per common share:
Undistributed income (loss)									1.40	(2.15)	(4.05)
Total diluted	$ 0.18	$ 0.01	$ 1.36	$ (0.15)	$ (1.05)	$ (0.27)	$ (0.19)	$ (0.62)	$ 1.40	$ (2.15)	$ (4.05)

Earnings (Loss) per Share and_5

Earnings (Loss) per Share and per Unit - Computation of Basic Earnings (Loss) Per Unit (Detail) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Numerator
Net income (loss)	$ 5,192,870	$ 1,972,563	$ 27,605,359	$ (810,944)	$ (16,881,825)	$ (2,528,221)	$ (1,553,970)	$ (7,575,624)	$ 33,959,848	$ (28,539,640)	$ (53,682,905)
Declared and undeclared distributions to preferred stockholders									(7,634,219)	(7,541,891)	$ (8,755,642)
Gain on extinguishment of preferred stock									$ 64,518	$ 361,476
Basic net income (loss) per unit:
Undistributed income (loss)									$ 1.40	$ (2.15)	$ (4.05)
Total basic	$ 0.17	$ 0	$ 1.33	$ (0.14)
Diluted net income (loss) per unit:
Undistributed income (loss)									$ 1.40	$ (2.15)	$ (4.05)
Total diluted	$ 0.17	$ 0	$ 1.33	$ (0.14)
Sotherly Hotels LP [Member]
Numerator
Net income (loss)									$ 33,959,848	$ (28,539,640)	$ (53,682,905)
Less: Net income allocated to participating unit awards									(113,405)
Declared and undeclared distributions to preferred stockholders									(7,634,219)	(7,541,891)	(8,755,642)
Gain on extinguishment of preferred stock									64,518	361,476
Net income (loss) attributable to unitholders for EPU computation									$ 26,276,742	$ (35,720,055)	$ (62,438,547)
Denominator
Weighted average number of units outstanding for basic EPU computation									19,266,320	17,186,789	16,065,499
Weighted average number of equivalent units outstanding for diluted EPU computation									19,266,320	17,186,789	16,065,499
Basic net income (loss) per unit:
Undistributed income (loss)									$ 1.36	$ (2.08)	$ (3.89)
Total basic									1.36	(2.08)	(3.89)
Diluted net income (loss) per unit:
Undistributed income (loss)									1.36	(2.08)	(3.89)
Total diluted									$ 1.36	$ (2.08)	$ (3.89)

Quarterly Operating Results -_3

Quarterly Operating Results - Unaudited - Quarterly Operating Results (Detail) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
Total revenue	$ 41,341,747	$ 39,212,695	$ 47,170,259	$ 38,352,603	$ 35,075,957	$ 35,493,126	$ 34,383,309	$ 22,635,532
Total operating expenses	36,200,422	35,923,699	38,970,971	34,427,399	46,978,440	32,706,524	31,240,158	24,717,808
Net operating income (loss)	5,141,325	3,288,996	8,199,288	3,925,204	(11,902,483)	2,786,602	3,143,151	(2,082,276)	$ 20,554,813	$ (8,055,006)	$ (29,749,670)
Net income (loss)	5,192,870	1,972,563	27,605,359	(810,944)	(16,881,825)	(2,528,221)	(1,553,970)	(7,575,624)	33,959,848	(28,539,640)	(53,682,905)
Net income (loss) attributable to common shareholders	$ 3,092,456	$ 112,680	$ 24,269,449	$ (2,507,765)	$ (17,209,210)	$ (4,317,081)	$ (2,810,603)	$ (9,064,995)	$ 24,966,820	$ (33,401,889)	$ (57,949,206)
Basic	$ 0.18	$ 0.01	$ 1.36	$ (0.15)	$ (1.05)	$ (0.27)	$ (0.19)	$ (0.62)	$ 1.40	$ (2.15)	$ (4.05)
Diluted	$ 0.18	$ 0.01	$ 1.36	$ (0.15)	$ (1.05)	$ (0.27)	$ (0.19)	$ (0.62)	$ 1.40	$ (2.15)	$ (4.05)
Net loss available to operating partnership unitholders	$ 3,198,559	$ 61,586	$ 25,799,389	$ (2,669,386)	$ (18,358,031)	$ (4,607,249)	$ (2,990,241)	$ (9,764,534)
Income (loss) per unit attributable to operating partnership unitholders- basic	$ 0.17	$ 0	$ 1.33	$ (0.14)
Income (loss) per unit attributable to operating partnership unitholders- diluted	$ 0.17	$ 0	$ 1.33	$ (0.14)
Loss per unit attributable to operating partnership unitholders– basic and diluted					$ (1.02)	$ (0.26)	$ (0.18)	$ (0.60)

Subsequent Events- Additional I

Subsequent Events- Additional Information (Detail) - USD ($)

12 Months Ended

14 Months Ended

Mar. 15, 2023

Feb. 26, 2023

Feb. 09, 2023

Feb. 03, 2023

Jan. 27, 2023

Jan. 23, 2023

Jan. 12, 2023

Aug. 23, 2022

Aug. 18, 2022

Apr. 19, 2022

Apr. 11, 2022

Mar. 31, 2022

Mar. 24, 2022

Dec. 13, 2021

Dec. 09, 2021

Dec. 03, 2021

Jun. 21, 2021

Feb. 23, 2020

Jan. 01, 2020

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Aug. 24, 2022

Subsequent Event [Line Items]

Debt instrument, frequency of periodic payment

monthly

Series B Preferred Stock [Member]

Subsequent Event [Line Items]

Issuance of common stock awards, shares

145,900

Series C Preferred Stock [Member]

Subsequent Event [Line Items]

Issuance of common stock awards, shares

208,500

Series D Preferred Stock [Member]

Subsequent Event [Line Items]

Issuance of common stock awards, shares

36,900

Privately Negotiated Share Exchange Agreement [Member] | Series B Preferred Stock [Member]

Subsequent Event [Line Items]

Issuance of common stock awards, shares

13,000

11,000

5,000

4,000

5,900

7,000

100,000

Privately Negotiated Share Exchange Agreement [Member] | Series C Preferred Stock [Member]

Subsequent Event [Line Items]

Issuance of common stock awards, shares

3,200

7,100

10,600

8,000

6,600

3,000

75,000

10,000

85,000

Privately Negotiated Share Exchange Agreement [Member] | Series D Preferred Stock [Member]

Subsequent Event [Line Items]

Issuance of common stock awards, shares

1,900

35,000

Sheraton Louisville Riverside [Member]

Subsequent Event [Line Items]

Proceeds from sale of hotel property

$ 11,500,000

Net proceeds from from sale of hotel property

$ 0

Common Stock [Member]

Subsequent Event [Line Items]

Restricted shares issued

17,250

45,000

187,583

Issuance of unrestricted shares

2,250

Issuance of common stock awards, shares

395,086

151,281

30,393,995

Common Stock [Member] | Privately Negotiated Share Exchange Agreement [Member]

Subsequent Event [Line Items]

Issuance of common stock awards, shares

140,130

178,800

153,504

116,640

120,875

96,900

620,919

69,500

1,542,727

Subsequent Events [Member]

Subsequent Event [Line Items]

Paycheck protection program loan amount

$ 268,309

Payment of monthly installments

$ 56,809

$ 13,402

Debt instrument, date of first required payment

Mar. 01, 2023

Mar. 06, 2023

Subsequent Events [Member] | Series B Preferred Stock [Member]

Subsequent Event [Line Items]

Dividend paid per share

$ 0.50

Subsequent Events [Member] | Series C Preferred Stock [Member]

Subsequent Event [Line Items]

Dividend paid per share

0.492188

Subsequent Events [Member] | Series D Preferred Stock [Member]

Subsequent Event [Line Items]

Dividend paid per share

$ 0.515625

Subsequent Events [Member] | The Whitehall [Member] | Mortgage Loans [Member]

Subsequent Event [Line Items]

Extended maturity date

Feb. 26, 2028

Excess Interest rate on mortgage debt

1.25%

Floor interest rate

7.50%

Subsequent Events [Member] | Independent Directors [Member] | Common Stock [Member]

Subsequent Event [Line Items]

Restricted shares issued

15,000

Subsequent Events [Member] | Directors, Officers, and Employees [Member] | Common Stock [Member]

Subsequent Event [Line Items]

Restricted shares issued

205,000

Issuance of unrestricted shares

64,278

Schedule III - Real Estate an_2

Schedule III - Real Estate and Accumulated Depreciation - Real Estate and Accumulated Depreciation (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 321,895
Initial Costs, Land	56,412
Initial Costs, Building & Improvements	301,739
Costs Capitalized Subsequent to Acquisition, Land	4,523
Costs Capitalized Subsequent to Acquisition, Building & Improvements	110,979
Gross Amount at End of Year, Land	60,935
Gross Amount at End of Year, Building & Improvements	412,718
Gross Amount at End of Year, Total	473,653	$ 509,620	$ 508,153
Accumulated Depreciation & Impairment	$ (130,311)
The DeSoto - Savannah, Georgia [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Description	The DeSoto – Savannah, Georgia
Encumbrances	$ 31,219
Initial Costs, Land	600
Initial Costs, Building & Improvements	13,562
Costs Capitalized Subsequent to Acquisition, Land	865
Costs Capitalized Subsequent to Acquisition, Building & Improvements	21,368
Gross Amount at End of Year, Land	1,465
Gross Amount at End of Year, Building & Improvements	34,930
Gross Amount at End of Year, Total	36,395
Accumulated Depreciation & Impairment	$ (15,471)
Date of Construction	1968
Date Acquired	2004
The DeSoto - Savannah, Georgia [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	3 years
The DeSoto - Savannah, Georgia [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	39 years
DoubleTree by Hilton Jacksonville Riverfront - Jacksonville, Florida [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Description	DoubleTree by Hilton Jacksonville Riverfront – Jacksonville, Florida
Encumbrances	$ 32,416
Initial Costs, Land	7,090
Initial Costs, Building & Improvements	14,604
Costs Capitalized Subsequent to Acquisition, Land	520
Costs Capitalized Subsequent to Acquisition, Building & Improvements	7,610
Gross Amount at End of Year, Land	7,610
Gross Amount at End of Year, Building & Improvements	22,214
Gross Amount at End of Year, Total	29,824
Accumulated Depreciation & Impairment	$ (10,316)
Date of Construction	1970
Date Acquired	2005
DoubleTree by Hilton Jacksonville Riverfront - Jacksonville, Florida [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	3 years
DoubleTree by Hilton Jacksonville Riverfront - Jacksonville, Florida [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	39 years
DoubleTree by Hilton Laurel - Laurel, Maryland [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Description	DoubleTree by Hilton Laurel – Laurel, Maryland
Encumbrances	$ 7,412
Initial Costs, Land	900
Initial Costs, Building & Improvements	9,443
Costs Capitalized Subsequent to Acquisition, Land	71
Costs Capitalized Subsequent to Acquisition, Building & Improvements	5,900
Gross Amount at End of Year, Land	971
Gross Amount at End of Year, Building & Improvements	15,343
Gross Amount at End of Year, Total	16,314
Accumulated Depreciation & Impairment	$ (6,935)
Date of Construction	1985
Date Acquired	2004
DoubleTree by Hilton Laurel - Laurel, Maryland [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	3 years
DoubleTree by Hilton Laurel - Laurel, Maryland [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	39 years
DoubleTree by Hilton Philadelphia Airport - Philadelphia, Pennsylvania [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Description	DoubleTree by Hilton Philadelphia Airport – Philadelphia, Pennsylvania
Encumbrances	$ 39,414
Initial Costs, Land	2,100
Initial Costs, Building & Improvements	22,031
Costs Capitalized Subsequent to Acquisition, Land	435
Costs Capitalized Subsequent to Acquisition, Building & Improvements	7,168
Gross Amount at End of Year, Land	2,535
Gross Amount at End of Year, Building & Improvements	29,199
Gross Amount at End of Year, Total	31,734
Accumulated Depreciation & Impairment	$ (13,830)
Date of Construction	1972
Date Acquired	2004
DoubleTree by Hilton Philadelphia Airport - Philadelphia, Pennsylvania [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	3 years
DoubleTree by Hilton Philadelphia Airport - Philadelphia, Pennsylvania [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	39 years
DoubleTree Resort by Hilton Hollywood Beach - Hollywood Beach Florida [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Description	DoubleTree Resort by Hilton Hollywood Beach - Hollywood Beach, Florida
Encumbrances	$ 52,724
Initial Costs, Land	22,865
Initial Costs, Building & Improvements	67,660
Costs Capitalized Subsequent to Acquisition, Land	634
Costs Capitalized Subsequent to Acquisition, Building & Improvements	9,107
Gross Amount at End of Year, Land	23,499
Gross Amount at End of Year, Building & Improvements	76,767
Gross Amount at End of Year, Total	100,266
Accumulated Depreciation & Impairment	$ (15,696)
Date of Construction	1972
Date Acquired	2015
DoubleTree Resort by Hilton Hollywood Beach - Hollywood Beach Florida [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	3 years
DoubleTree Resort by Hilton Hollywood Beach - Hollywood Beach Florida [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	39 years
Georgian Terrace - Atlanta, Georgia [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Description	Georgian Terrace – Atlanta, Georgia
Encumbrances	$ 40,493
Initial Costs, Land	10,128
Initial Costs, Building & Improvements	45,386
Costs Capitalized Subsequent to Acquisition, Land	(1,168)
Costs Capitalized Subsequent to Acquisition, Building & Improvements	9,307
Gross Amount at End of Year, Land	8,960
Gross Amount at End of Year, Building & Improvements	54,693
Gross Amount at End of Year, Total	63,653
Accumulated Depreciation & Impairment	$ (12,982)
Date of Construction	1911
Date Acquired	2014
Georgian Terrace - Atlanta, Georgia [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	3 years
Georgian Terrace - Atlanta, Georgia [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	39 years
Hotel Alba Tampa, Tapestry Collection by Hilton - Tampa, Florida [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Description	Hotel Alba Tampa, Tapestry Collection by Hilton – Tampa, Florida
Encumbrances	$ 24,756
Initial Costs, Land	4,153
Initial Costs, Building & Improvements	9,670
Costs Capitalized Subsequent to Acquisition, Land	1,777
Costs Capitalized Subsequent to Acquisition, Building & Improvements	26,026
Gross Amount at End of Year, Land	5,930
Gross Amount at End of Year, Building & Improvements	35,696
Gross Amount at End of Year, Total	41,626
Accumulated Depreciation & Impairment	$ (12,983)
Date of Construction	1973
Date Acquired	2007
Hotel Alba Tampa, Tapestry Collection by Hilton - Tampa, Florida [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	3 years
Hotel Alba Tampa, Tapestry Collection by Hilton - Tampa, Florida [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	39 years
Hotel Ballast Wilmington, Tapestry Collection by Hilton - Wilmington, North Carolina [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Description	Hotel Ballast Wilmington, Tapestry Collection by Hilton – Wilmington, North Carolina
Encumbrances	$ 31,700
Initial Costs, Land	785
Initial Costs, Building & Improvements	16,829
Costs Capitalized Subsequent to Acquisition, Land	1,139
Costs Capitalized Subsequent to Acquisition, Building & Improvements	15,248
Gross Amount at End of Year, Land	1,924
Gross Amount at End of Year, Building & Improvements	32,077
Gross Amount at End of Year, Total	34,001
Accumulated Depreciation & Impairment	$ (16,319)
Date of Construction	1970
Date Acquired	2004
Hotel Ballast Wilmington, Tapestry Collection by Hilton - Wilmington, North Carolina [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	3 years
Hotel Ballast Wilmington, Tapestry Collection by Hilton - Wilmington, North Carolina [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	39 years
Hyatt Centric Arlington - Arlington, Virginia [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Description	Hyatt Centric Arlington - Arlington, Virginia
Encumbrances	$ 47,535
Initial Costs, Land	191
Initial Costs, Building & Improvements	70,369
Costs Capitalized Subsequent to Acquisition, Land	79
Costs Capitalized Subsequent to Acquisition, Building & Improvements	1,792
Gross Amount at End of Year, Land	270
Gross Amount at End of Year, Building & Improvements	72,161
Gross Amount at End of Year, Total	72,431
Accumulated Depreciation & Impairment	$ (9,032)
Date Acquired	2018
Hyatt Centric Arlington - Arlington, Virginia [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	3 years
Hyatt Centric Arlington - Arlington, Virginia [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	39 years
The Whitehall - Houston, Texas [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Description	The Whitehall – Houston, Texas
Encumbrances	$ 14,226
Initial Costs, Land	7,374
Initial Costs, Building & Improvements	22,185
Costs Capitalized Subsequent to Acquisition, Land	171
Costs Capitalized Subsequent to Acquisition, Building & Improvements	7,453
Gross Amount at End of Year, Land	7,545
Gross Amount at End of Year, Building & Improvements	29,638
Gross Amount at End of Year, Total	37,183
Accumulated Depreciation & Impairment	$ (15,615)
Date of Construction	1963
Date Acquired	2013
The Whitehall - Houston, Texas [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	3 years
The Whitehall - Houston, Texas [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	39 years
Hyde Resort & Residences [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Description	Hyde Resort & Residences
Initial Costs, Land	$ 226
Initial Costs, Building & Improvements	4,290
Gross Amount at End of Year, Land	226
Gross Amount at End of Year, Building & Improvements	4,290
Gross Amount at End of Year, Total	4,516
Accumulated Depreciation & Impairment	$ (651)
Date of Construction	2016
Date Acquired	2017
Hyde Resort & Residences [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	3 years
Hyde Resort & Residences [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	39 years
Hyde Beach House Resort & Residences [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Description	Hyde Beach House Resort & Residences
Initial Costs, Building & Improvements	$ 5,710
Gross Amount at End of Year, Building & Improvements	5,710
Gross Amount at End of Year, Total	5,710
Accumulated Depreciation & Impairment	$ (481)
Date of Construction	2019
Date Acquired	2019
Hyde Beach House Resort & Residences [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	3 years
Hyde Beach House Resort & Residences [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	39 years

Schedule III - Real Estate an_3

Schedule III - Real Estate and Accumulated Depreciation - Real Estate and Accumulated Depreciation (Parenthetical) (Detail) $ in Millions	Dec. 31, 2022 USD ($)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
Aggregate cost of our real estate assets for federal income tax	$ 468.9

Schedule III - Real Estate an_4

Schedule III - Real Estate and Accumulated Depreciation - Reconciliation of Real Estate and Accumulated Depreciation (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of Real Estate
Beginning Balance	$ 509,620,000	$ 508,153,000
Improvements	6,916,000	2,147,000
Disposal of Assets	(42,883,000)	(680,000)
Ending Balance	473,653,000	509,620,000
Reconciliation of Accumulated Depreciation
Beginning Balance	129,895,000	111,758,000
Current Expense	13,462,000	14,474,000
Impairment of Real Estate	0	12,201,461
Disposal of Assets	(13,046,000)	(8,538,000)
Ending Balance	$ 130,311,000	$ 129,895,000