Sotherly Hotels (SOHO) 10-K 25 Mar 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2015	Mar. 16, 2016	Jun. 30, 2015
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Trading Symbol	SOHO
Entity Registrant Name	SOTHERLY HOTELS INC.
Entity Central Index Key	1,301,236
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		14,949,651
Entity Public Float			$ 65,035,163
Sotherly Hotels LP [Member]
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Entity Registrant Name	SOUTHERLY HOTELS LP
Entity Central Index Key	1,301,236
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Non-accelerated Filer

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2015	Dec. 31, 2014
ASSETS
Investment in hotel properties, net	$ 354,963,242	$ 260,192,153
Investment in joint venture		1,982,107
Cash and cash equivalents	11,493,914	16,634,499
Restricted cash	5,793,840	6,621,864
Accounts receivable, net	4,071,175	1,908,762
Accounts receivable-affiliate	226,552	197,674
Loan proceeds receivable	2,600,711
Prepaid expenses, inventory and other assets	4,432,431	3,334,401
Deferred income taxes	5,390,374	3,543,295
Deferred financing costs, net	4,086,114	5,405,288
TOTAL ASSETS	393,058,353	299,820,043
LIABILITIES
Mortgage loans	271,977,944	205,291,657
Unsecured notes	52,900,000	52,900,000
Accounts payable and accrued expenses	12,334,878	12,044,886
Advance deposits	1,651,840	1,220,729
Dividends and distributions payable	1,335,323	852,914
TOTAL LIABILITIES	$ 340,199,985	$ 272,310,186
Commitments and contingencies
Sotherly Hotels Inc. stockholders’ equity
Preferred stock, par value $0.01, 972,350 shares authorized, 0 shares issued and outstanding
Common stock, par value $0.01, 49,000,000 shares authorized, 14,490,714 shares and 10,570,932 shares issued and outstanding at December 31, 2015 and December 31, 2014, respectively	$ 144,907	$ 105,709
Additional paid in capital	82,749,058	58,659,799
Distributions in excess of retained earnings	(33,890,834)	(35,388,313)
Total Sotherly Hotels Inc. stockholders’ equity	49,003,131	23,377,195
Noncontrolling interest	3,855,237	4,132,662
TOTAL EQUITY	52,858,368	27,509,857
TOTAL LIABILITIES AND OWNERS' EQUITY	393,058,353	299,820,043
Sotherly Hotels LP [Member]
ASSETS
Investment in hotel properties, net	354,963,242	260,192,153
Investment in joint venture		1,982,107
Cash and cash equivalents	11,493,914	16,634,499
Restricted cash	5,793,840	6,621,864
Accounts receivable, net	4,071,175	1,908,762
Accounts receivable-affiliate	226,552	197,674
Loan proceeds receivable	2,600,711
Prepaid expenses, inventory and other assets	4,432,431	3,334,401
Deferred income taxes	5,390,374	3,543,295
Deferred financing costs, net	4,086,114	5,405,288
TOTAL ASSETS	393,058,353	299,820,043
LIABILITIES
Mortgage loans	271,977,944	205,291,657
Unsecured notes	52,900,000	52,900,000
Accounts payable and accrued expenses	12,334,878	12,044,886
Advance deposits	1,651,840	1,220,729
Dividends and distributions payable	1,335,323	852,914
TOTAL LIABILITIES	$ 340,199,985	$ 272,310,186
Commitments and contingencies
Sotherly Hotels Inc. stockholders’ equity
TOTAL LIABILITIES AND OWNERS' EQUITY	$ 393,058,353	$ 299,820,043
PARTNERS’ CAPITAL
General Partner: 166,915 and 131,218 units issued and outstanding as of December 31, 2015 and December 31, 2014, respectively	774,295	520,791
Limited Partners: 16,524,626 and 12,990,541 units issued and outstanding as of December 31, 2015 and December 31, 2014, respectively	52,084,073	26,989,066
TOTAL PARTNERS’ CAPITAL	$ 52,858,368	$ 27,509,857

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2015	Dec. 31, 2014
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	972,350	972,350
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	49,000,000	49,000,000
Common stock, shares issued	14,490,714	10,570,932
Common stock, shares outstanding	14,490,714	10,570,932
Sotherly Hotels LP [Member]
General Partner, units issued	166,915	131,218
General Partner, units outstanding	166,915	131,218
Limited Partner, units issued	16,524,626	12,990,541
Limited Partner, units outstanding	16,524,626	12,990,541

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
REVENUE
Rooms department	$ 96,837,386	$ 84,618,889	$ 62,837,422
Food and beverage department	33,273,599	31,444,984	22,054,209
Other operating departments	8,422,491	6,876,046	4,482,896
Total revenue	138,533,476	122,939,919	89,374,527
Hotel operating expenses
Rooms department	25,782,992	22,913,479	17,212,549
Food and beverage department	23,005,629	21,026,202	14,048,924
Other operating departments	1,786,197	1,192,183	508,868
Indirect	51,310,292	45,072,491	33,757,896
Total hotel operating expenses	101,885,110	90,204,355	65,528,237
Depreciation and amortization	13,591,495	11,969,284	8,467,228
Impairment of investment in hotel properties, net	500,000	3,175,000	611,000
Gain on disposal of assets	(41,435)
Corporate general and administrative	7,268,256	5,085,949	4,360,583
Total operating expenses	123,203,426	110,434,588	78,967,048
NET OPERATING INCOME	15,330,050	12,505,331	10,407,479
Other income (expense)
Interest expense	(16,515,827)	(14,636,870)	(9,606,479)
Interest income	50,461	19,865	17,914
Equity income in joint venture	475,514	307,370	449,500
Loss on early debt extinguishment	(772,907)	(831,079)	(2,040,662)
Unrealized loss on hedging activities	(108,819)
Realized and unrealized loss on warrant derivative			(2,205,248)
Gain on change in control	6,603,148
Gain (loss) on involuntary conversion of asset		169,151
Net income (loss) before income taxes	5,061,620	(2,466,232)	(2,977,496)
Income tax (provision) benefit	1,336,033	1,727,723	(1,496,096)
Net income (loss)	6,397,653	(738,509)	(4,473,592)
Less: Net (income) loss attributable to the noncontrolling interest	(1,040,987)	153,838	989,623
Net income (loss) attributable to the Company	$ 5,356,666	$ (584,671)	$ (3,483,969)
Net income (loss) per share attributable to the Company
Basic and diluted	$ 0.43	$ (0.06)	$ (0.34)
Weighted average number of shares outstanding
Basic and diluted	12,541,117	10,377,125	10,156,955
Sotherly Hotels LP [Member]
REVENUE
Rooms department	$ 96,837,386	$ 84,618,889	$ 62,837,422
Food and beverage department	33,273,599	31,444,984	22,054,209
Other operating departments	8,422,491	6,876,046	4,482,896
Total revenue	138,533,476	122,939,919	89,374,527
Hotel operating expenses
Rooms department	25,782,992	22,913,479	17,212,549
Food and beverage department	23,005,629	21,026,202	14,048,924
Other operating departments	1,786,197	1,192,183	508,868
Indirect	51,310,292	45,072,491	33,757,896
Total hotel operating expenses	101,885,110	90,204,355	65,528,237
Depreciation and amortization	13,591,495	11,969,284	8,467,228
Impairment of investment in hotel properties, net	500,000	3,175,000	611,000
Gain on disposal of assets	(41,435)
Corporate general and administrative	7,268,256	5,085,949	4,360,583
Total operating expenses	123,203,426	110,434,588	78,967,048
NET OPERATING INCOME	15,330,050	12,505,331	10,407,479
Other income (expense)
Interest expense	(16,515,827)	(14,636,870)	(9,606,479)
Interest income	50,461	19,865	17,914
Equity income in joint venture	475,514	307,370	449,500
Loss on early debt extinguishment	(772,907)	(831,079)	(2,040,662)
Unrealized loss on hedging activities	(108,819)
Realized and unrealized loss on warrant derivative			(2,205,248)
Gain on change in control	6,603,148
Gain (loss) on involuntary conversion of asset		169,151
Net income (loss) before income taxes	5,061,620	(2,466,232)	(2,977,496)
Income tax (provision) benefit	1,336,033	1,727,723	(1,496,096)
Net income (loss)	$ 6,397,653	$ (738,509)	$ (4,473,592)
Net income (loss) per share attributable to the Company
Basic and diluted	$ 0.43	$ (0.06)	$ (0.34)
Weighted average number of shares outstanding
Basic and diluted	14,924,410	13,107,413	13,042,020

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - USD ($)	Total	Common Stock [Member]	Additional Paid-In-Capital [Member]	Distributions in Excess of Retained Earnings [Member]	Noncontrolling Interest [Member]
Balances, beginning at Dec. 31, 2012	$ 37,053,953	$ 99,998	$ 57,020,979	$ (27,389,338)	$ 7,322,314
Balances, shares, beginning at Dec. 31, 2012		9,999,786
Net income (loss)	(4,473,592)			(3,483,969)	(989,623)
Conversion of units in Operating Partnership to shares of common stock		$ 1,316	337,449		(338,765)
Conversion of units in Operating Partnership to shares of common stock, shares		131,641
Redemption of units in Operating Partnership	(32,900)				(32,900)
Issuance of units for Houston purchase	153,636				153,636
Issuance of restricted and unrestricted common stock awards	176,440	$ 755	175,685
Issuance of restricted and unrestricted common stock awards, shares		75,500
Dividends and distributions declared	(2,022,742)			(1,577,466)	(445,276)
Balances, ending at Dec. 31, 2013	30,854,795	$ 102,069	57,534,113	(32,450,773)	5,669,386
Balances, shares, ending at Dec. 31, 2013		10,206,927
Net income (loss)	(738,509)			(584,671)	(153,838)
Conversion of units in Operating Partnership to shares of common stock		$ 3,100	755,750		(758,850)
Conversion of units in Operating Partnership to shares of common stock, shares		310,000
Redemption of units in Operating Partnership	(25,621)				(25,621)
Issuance of unrestricted common stock awards	147,360	$ 248	147,112
Issuance of unrestricted common stock awards, shares		24,750
Issuance of restricted common stock awards	78,285	$ 120	78,165
Issuance of restricted common stock awards, shares		12,000
Issuance of common stock through ATM offering, net	124,911	$ 172	124,739
Issuance of common stock through ATM offering, net, shares		17,255
Amortization of restricted stock award	19,920		19,920
Dividends and distributions declared	(2,951,284)			(2,352,869)	(598,415)
Balances, ending at Dec. 31, 2014	27,509,857	$ 105,709	58,659,799	(35,388,313)	4,132,662
Balances, shares, ending at Dec. 31, 2014		10,570,932
Net income (loss)	6,397,653			5,356,666	1,040,987
Conversion of units in Operating Partnership to shares of common stock		$ 3,500	588,162		(591,662)
Conversion of units in Operating Partnership to shares of common stock, shares		350,000
Issuance of unrestricted common stock awards	194,200	$ 264	193,936
Issuance of unrestricted common stock awards, shares		26,350
Issuance of restricted common stock awards	71,858	$ 98	71,760
Issuance of restricted common stock awards, shares		9,750
Issuance of common stock through ATM offering, net	682,208	$ 986	681,222
Issuance of common stock through ATM offering, net, shares		98,682
Issuance of common stock from equity offering	22,568,609	$ 34,350	22,534,259
Issuance of common stock from equity offering, shares		3,435,000
Amortization of restricted stock award	19,920		19,920
Dividends and distributions declared	(4,585,937)			(3,859,187)	(726,750)
Balances, ending at Dec. 31, 2015	$ 52,858,368	$ 144,907	$ 82,749,058	$ (33,890,834)	$ 3,855,237
Balances, shares, ending at Dec. 31, 2015		14,490,714

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash flows from operating activities:
Net income (loss)	$ 6,397,653	$ (738,509)	$ (4,473,592)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	13,591,495	11,969,284	8,467,228
Gain on change in control	(6,603,148)
Equity income in joint venture	(475,514)	(307,370)	(449,500)
Impairment of investment in hotel properties, net	500,000	3,175,000	611,000
Realized and unrealized loss on warrant derivative			2,205,248
Amortization of deferred financing costs	1,300,032	1,428,674	1,518,556
Amortization of mortgage premium	(18,820)
Unrealized loss on derivative instrument	108,819
Gain on disposal of assets	(41,435)
Loss on early debt extinguishment	772,907	831,079	2,040,662
Paid-in-kind interest			186,293
Charges related to equity-based compensation	285,978	245,565	323,800
Changes in assets and liabilities:
Restricted cash	584,926	(92,439)	(173,990)
Accounts receivable	(2,021,825)	369,685	58,368
Prepaid expenses, inventory and other assets	(623,980)	(1,677,032)	116,976
Deferred income taxes	(1,780,571)	(1,961,663)	1,370,189
Accounts payable and other accrued liabilities	(1,001,376)	2,338,688	(3,396)
Advance deposits	431,111	89,099	(33,233)
Accounts receivable - affiliate	(28,878)	12,273	(129,196)
Net cash provided by operating activities	11,377,374	14,851,255	9,594,751
Cash flows from investing activities:
Acquisition of hotel properties	(25,525,754)	(61,106,085)	(30,725,959)
Improvements and additions to hotel properties	(20,136,427)	(9,801,018)	(4,906,000)
Distributions from joint venture	600,000	750,000	6,646,627
Funding of restricted cash reserves	(4,973,602)	(3,692,045)	(2,195,658)
Proceeds from restricted cash reserves	6,376,459	2,583,419	1,653,401
Proceeds from the sale of assets	2,402,113
Proceeds from involuntary conversion of assets	124,609	169,151
Net cash used in investing activities	(41,132,602)	(71,096,578)	(29,527,589)
Cash flows from financing activities:
Proceeds of unsecured notes		25,300,000	27,600,000
Proceeds of mortgage debt	127,000,000	48,600,000	29,367,287
Proceeds of loans		19,000,000
Proceeds from the sale of common stock, net	23,250,818	124,911
Payments on mortgage debt and loans	(120,154,764)	(24,171,892)	(8,703,390)
Payment of deferred financing costs	(1,377,882)	(2,637,637)	(2,684,581)
Dividends and distributions paid	(4,103,529)	(2,686,567)	(1,823,723)
Redemption of redeemable preferred stock			(14,413,943)
Redemption of units in Operating Partnership		(25,621)	(32,900)
Redemption of warrants			(7,175,000)
Net cash provided by financing activities	24,614,643	63,503,194	22,133,750
Net (decrease) increase in cash and cash equivalents	(5,140,585)	7,257,871	2,200,912
Cash and cash equivalents at the beginning of the period	16,634,499	9,376,628	7,175,716
Cash and cash equivalents at the end of the period	11,493,914	16,634,499	9,376,628
Supplemental disclosures:
Cash paid during the period for interest	15,415,695	13,766,824	10,423,150
Cash paid during the period for income taxes	570,762	263,621	143,848
Non-cash investing and financing activities:
Issuance of units in Operating Partnership for acquisition of hotel property			153,636
Mortgage debt proceeds receivable and related loan costs	2,704,415
Assumption of mortgage loan on Crowne Plaza Hollywood Beach Resort acquisition	57,000,000
Assumption of loan premium on the Crowne Plaza Hollywood Beach Resort assumed loan	246,815
Change in amount of deferred financing and deferred offering cost in accounts payable and accrued liabilities	624,117	375,487	248,630
Change in amount of hotel property improvements in accounts payable and accrued liabilities	601,895	1,108,182	195,725
Sotherly Hotels LP [Member]
Cash flows from operating activities:
Net income (loss)	6,397,653	(738,509)	(4,473,592)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	13,591,495	11,969,284	8,467,228
Gain on change in control	(6,603,148)
Equity income in joint venture	(475,514)	(307,370)	(449,500)
Impairment of investment in hotel properties, net	500,000	3,175,000	611,000
Realized and unrealized loss on warrant derivative			2,205,248
Amortization of deferred financing costs	1,300,032	1,428,674	1,518,556
Amortization of mortgage premium	(18,820)
Unrealized loss on derivative instrument	108,819
Gain on disposal of assets	(41,435)
Loss on early debt extinguishment	772,907	831,079	2,040,662
Paid-in-kind interest			186,293
Charges related to equity-based compensation	285,978	245,565	323,800
Changes in assets and liabilities:
Restricted cash	584,926	(92,439)	(173,990)
Accounts receivable	(2,021,825)	369,685	58,368
Prepaid expenses, inventory and other assets	(623,980)	(1,677,032)	116,976
Deferred income taxes	(1,780,571)	(1,961,663)	1,370,189
Accounts payable and other accrued liabilities	(1,001,376)	2,338,688	(3,396)
Advance deposits	431,111	89,099	(33,233)
Accounts receivable - affiliate	(28,878)	12,273	(129,196)
Net cash provided by operating activities	11,377,374	14,851,255	9,594,751
Cash flows from investing activities:
Acquisition of hotel properties	(25,525,754)	(61,106,085)	(30,725,959)
Improvements and additions to hotel properties	(20,136,427)	(9,801,018)	(4,906,000)
Distributions from joint venture	600,000	750,000	6,646,627
Funding of restricted cash reserves	(4,973,602)	(3,692,045)	(2,195,658)
Proceeds from restricted cash reserves	6,376,459	2,583,419	1,653,401
Proceeds from the sale of assets	2,402,113
Proceeds from involuntary conversion of assets	124,609	169,151
Net cash used in investing activities	(41,132,602)	(71,096,578)	(29,527,589)
Cash flows from financing activities:
Proceeds of unsecured notes		25,300,000	27,600,000
Proceeds of mortgage debt	127,000,000	48,600,000	29,367,287
Proceeds of loans		19,000,000
Proceeds from the issuance of units	23,250,818	124,911
Payments on mortgage debt and loans	(120,154,764)	(24,171,892)	(8,703,390)
Payment of deferred financing costs	(1,377,882)	(2,637,637)	(2,684,581)
Dividends and distributions paid	(4,103,529)	(2,686,567)	(1,823,723)
Redemption of redeemable preferred stock			(14,413,943)
Redemption of units in Operating Partnership		(25,621)	(32,900)
Redemption of warrants			(7,175,000)
Net cash provided by financing activities	24,614,643	63,503,194	22,133,750
Net (decrease) increase in cash and cash equivalents	(5,140,585)	7,257,871	2,200,912
Cash and cash equivalents at the beginning of the period	16,634,499	9,376,628	7,175,716
Cash and cash equivalents at the end of the period	11,493,914	16,634,499	9,376,628
Supplemental disclosures:
Cash paid during the period for interest	15,415,695	13,766,824	10,423,150
Cash paid during the period for income taxes	570,762	263,621	143,848
Non-cash investing and financing activities:
Issuance of units in Operating Partnership for acquisition of hotel property			153,636
Mortgage debt proceeds receivable and related loan costs	2,704,415
Assumption of mortgage loan on Crowne Plaza Hollywood Beach Resort acquisition	57,000,000
Assumption of loan premium on the Crowne Plaza Hollywood Beach Resort assumed loan	246,815
Change in amount of deferred financing and deferred offering cost in accounts payable and accrued liabilities	624,117	375,487	248,630
Change in amount of hotel property improvements in accounts payable and accrued liabilities	$ 601,895	$ 1,108,182	$ 195,725

Consolidated Statements of Cha7

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]
Balances, beginning at Dec. 31, 2012		$ 37,053,953	$ 615,130	$ 36,438,823
Balances, units, beginning at Dec. 31, 2012			129,727	12,842,898
Issuance of partnership units		330,076	$ 4,625	$ 325,451
Issuance of partnership units, number of units			1,084	107,345
Distributions declared		(2,022,742)	$ (20,227)	$ (2,002,515)
Redemption of limited partnership units		(32,900)	$ (476)	$ (32,424)
Redemption of limited partnership units, number of units			(100)	(9,900)
Net income (loss)	$ (4,473,592)	(4,473,592)	$ (44,736)	$ (4,428,856)
Balances, ending at Dec. 31, 2013		30,854,795	$ 554,316	$ 30,300,479
Balances, units, ending at Dec. 31, 2013			130,711	12,940,343
Issuance of partnership units		350,556	$ 3,534	$ 347,022
Issuance of partnership units, number of units			540	53,465
Amortization of restricted stock award	19,920	19,920	$ 199	$ 19,721
Distributions declared		(2,951,284)	(29,644)	(2,921,640)
Redemption of limited partnership units		(25,621)	$ (228)	$ (25,393)
Redemption of limited partnership units, number of units			(33)	(3,267)
Net income (loss)	(738,509)	(738,509)	$ (7,386)	$ (731,123)
Balances, ending at Dec. 31, 2014		27,509,857	$ 520,791	$ 26,989,066
Balances, units, ending at Dec. 31, 2014			131,218	12,990,541
Issuance of partnership units		23,516,875	$ 235,237	$ 23,281,638
Issuance of partnership units, number of units			35,697	3,534,085
Amortization of restricted stock award	19,920	19,920	$ 149	$ 19,771
Distributions declared		(4,585,937)	(45,859)	(4,540,078)
Net income (loss)	$ 6,397,653	6,397,653	63,977	6,333,676
Balances, ending at Dec. 31, 2015		$ 52,858,368	$ 774,295	$ 52,084,073
Balances, units, ending at Dec. 31, 2015			166,915	16,524,626

Organization and Description of

Organization and Description of Business	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Organization and Description of Business	1. Organization and Description of Business Sotherly Hotels Inc., formerly MHI Hospitality Corporation, (the “Company”) is a self-managed and self-administered lodging real estate investment trust (“REIT”) that was incorporated in Maryland on August 20, 2004 to own full-service, primarily upscale and upper-upscale hotels located in primary and secondary markets in the mid-Atlantic and southern United States. Currently, the Company is 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 consists of investments in twelve hotel properties, comprising 3,011 rooms. All of the Company’s hotels, except for the Georgian Terrace, operate under the Hilton, Crowne Plaza, DoubleTree, and Sheraton brands. 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 (“initial properties”). Substantially all of the Company’s assets are held by, and all of its operations are conducted through, Sotherly Hotels LP, formerly MHI Hospitality, L.P. (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 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, 2015, was approximately 86.8% owned by the Company, and its subsidiaries, lease its hotels to a subsidiary of MHI Hospitality TRS Holding, Inc., MHI Hospitality TRS, LLC, (collectively, “MHI TRS”), a wholly-owned subsidiary of the Operating Partnership. MHI TRS then engages an eligible independent hotel management company, MHI Hotels Services, LLC, which does business as Chesapeake Hospitality (“Chesapeake Hospitality”), to operate the hotels under a management contract. MHI TRS is treated as a taxable REIT subsidiary for federal income tax purposes. 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 occurring during the current and two prior fiscal years include the following: On March 22, 2013, we entered into a First Amendment to the Loan Agreement and other amendments to secure additional proceeds on the original $8.0 million mortgage on the DoubleTree by Hilton Raleigh Brownstone-University hotel property with our existing lender, Premier Bank, Inc. Pursuant to the amended loan documents, the mortgage loan’s principal amount was increased to $10.0 million, the prepayment penalty was removed and the interest rate was fixed at 5.25%; if the mortgage loan is extended, it will adjust to a rate of 3.00% plus the current 5-year U.S. Treasury bill rate of interest, with an interest rate floor of 5.25%. The remaining original terms of the agreement remained the same. On March 26, 2013, we used the net proceeds of the mortgage on the DoubleTree by Hilton Raleigh Brownstone-University to make a special distribution by the Operating Partnership to the Company to redeem 1,902 shares of Preferred Stock for an aggregate redemption price of approximately $2.1 million plus the payment of accrued and unpaid cash and stock dividends. On June 28, 2013, we entered into an agreement with TowneBank to extend the maturity of the mortgage on the Crowne Plaza Hampton Marina in Hampton, Virginia, until June 30, 2014. Under the terms of the extension, we made a principal payment of approximately $1.1 million to reduce the principal balance on the loan to approximately $6.0 million and continue to be required to make monthly principal payments of $16,000. Interest payable monthly pursuant to the mortgage remained unchanged at a rate of LIBOR plus additional interest of 4.55% and a minimum total rate of interest of 5.00% per annum. Pursuant to certain terms and conditions, we extended the maturity date of the loan to June 30, 2015. On August 1, 2013, we obtained a $15.6 million mortgage with CIBC, Inc. on the DoubleTree by Hilton Raleigh Brownstone – University in Raleigh, North Carolina. The mortgage bears interest at a rate of 4.78% and provides for level payments of principal and interest on a monthly basis under a 30-year amortization schedule. The maturity date is August 1, 2018. Approximately $0.7 million of the loan proceeds were placed into a restricted reserve which can be disbursed to us upon satisfaction of certain financial performance criteria. The remaining proceeds of the mortgage were used to repay the existing indebtedness, to pay closing costs, to make a special distribution by the Operating Partnership to the Company to redeem 2,460 shares of Preferred Stock for an aggregate redemption price of approximately $2.7 million plus the payment of accrued and unpaid cash and stock dividends and for working capital. The redemption resulted in a prepayment fee of approximately $0.2 million. On September 30, 2013, the Operating Partnership issued 8.0% senior unsecured notes (the “8% Notes”) in the aggregate amount of $27.6 million. The indenture requires quarterly payments of interest and matures on September 30, 2018. The proceeds were used to make a special distribution by the Operating Partnership to the Company to redeem the remaining outstanding shares of Preferred Stock for an aggregate redemption price of approximately $10.7 million plus the payment of accrued and unpaid cash and stock dividends. The redemption resulted in a prepayment fee of approximately $0.7 million. On October 23, 2013, the Company redeemed a portion of a warrant to purchase 1,900,000 shares of the Company’s common stock (the “Essex Warrant”) from Essex Illiquid, LLC and Richmond Hill Capital Partners, LP (collectively, the “Investors” or “Initial Holders”) corresponding to an aggregate of 900,000 Issuable Warrant Shares (the “First Tranche of Redeemed Warrant Shares”) for an aggregate cash redemption price of $3.2 million. The First Tranche of Redeemed Warrant Shares are no longer Issuable Warrant Shares under the Essex Warrant, and all exercise and other rights of the Initial Holders in respect of the Redeemed Warrant Shares under the Essex Warrant are terminated and extinguished. Concurrently with the redemption of the 900,000 Issuable Warrant Shares, the Operating Partnership redeemed a portion of a warrant to purchase 1,900,000 units of the Operating Partnership (the “OP Warrant”) corresponding to an aggregate of 900,000 Issuable Warrant Units, as defined in the OP Warrant, for an aggregate cash redemption price of $3.2 million. On November 13, 2013, we acquired 100% of the partnership interests of Houston Hotel Associates Limited Partnership, L.L.P., a Virginia limited liability partnership (“HHA”), for aggregate consideration of approximately $30.9 million in cash, the issuance to MHI Hotels, L.L.C., a Virginia limited liability company (“MHI Hotels”), of 32,929 units of limited partnership interests in the Operating Partnership, plus an additional amount for HHA’s working capital as of the closing date. HHA is the sole owner of the entity that indirectly owns the Crowne Plaza Houston Downtown. On December 23, 2013, the Company redeemed the remaining portion of the Essex Warrant corresponding to an aggregate of 1,000,000 Issuable Warrant Shares (the “Final Tranche of Redeemed Warrant Shares”) for an aggregate cash redemption price of approximately $4.0 million. The Final Tranche of Redeemed Warrant Shares are no longer Issuable Warrant Shares under the Essex Warrant, and all exercise and other rights of the Initial Holders in respect of the Redeemed Warrant Shares under the Essex Warrant are terminated and extinguished. Concurrently with the redemption of the 1,000,000 Issuable Warrant Shares, the Operating Partnership redeemed a portion of the OP Warrant corresponding to an aggregate of 1,000,000 Issuable Warrant Units from the Company for an aggregate cash redemption price of approximately $4.0 million. On December 27, 2013, through our joint venture with The Carlyle Group (“Carlyle”), we entered into a credit and security agreement and other loan documents to secure a $57.0 million non-recourse mortgage on the Crowne Plaza Hollywood Beach Resort in Hollywood, Florida with Bank of America, N.A. The proceeds from the loan were used to repay the existing first mortgage, to pay closing costs, and to make a distribution to the joint venture partners. We used approximately $3.5 million of its distribution proceeds to repay its existing loan with The Carlyle Group, and the remainder for general corporate purposes. On March 26, 2014, we entered into a Note Agreement, Guaranty, and Pledge Agreement to secure a $19.0 million secured loan (the “Bridge Loan”) with Richmond Hill Capital Partners, LP (“Richmond Hill”) and Essex Equity Joint Investment Vehicle, LLC (collectively with Richmond Hill, the “Bridge Lenders”). The Bridge Loan bore interest at the rate of 10.0% per annum and matured on March 26, 2015. The loan also required mandatory prepayment upon certain events, was subject to a prepayment premium if the loan was prepaid in full or in part prior to maturity and contains limited financial covenants. The loan was secured by a lien on our interest in our subsidiary that owns the DoubleTree by Hilton Philadelphia Airport. On March 27, 2014, we acquired the Georgian Terrace, a 326-room hotel in Atlanta, Georgia for the aggregate purchase price of approximately $61.1 million. Also included in the acquisition was a 698-space parking structure; all personal property and equipment located in or at the hotel; and a separate 0.6 acre development parcel with related development rights and improvements located thereon. In conjunction with the acquisition, we obtained a $41.5 million first mortgage from Bank of the Ozarks, of which $1.5 million of the proceeds was placed in a restricted cash reserve. The mortgage bore a floating rate of interest equal to LIBOR plus 3.75%, with a 4.00% floor and required monthly payments of principal and interest on a 25-year amortization schedule following a 12-month interest-only period. The mortgage would have matured on March 27, 2017, and could have been extended for two additional 1-year period subject to certain terms and conditions. On March 31, 2014, we entered into a First Amendment and other amended loan documents to extend the maturity date and secure additional proceeds of approximately $5.6 million on the original $30.0 million mortgage on the DoubleTree by Hilton Philadelphia Airport hotel with its existing lender, TD Bank, N.A. Pursuant to the First Amendment and other amended loan documents, the mortgage continues to bear interest at a rate of LIBOR plus 3.0% with a 3.50% floor, requires monthly payments of principal and interest on an amortization schedule over the remainder of the 25-year period that began with the commencement of the loan in March 2012, and extends the maturity date to April 1, 2019. As a condition to obtaining the First Amendment to the mortgage on the Hilton Philadelphia Airport hotel, we were required to enter into a license agreement with a national hotel franchise through at least the term of the amended mortgage loan. As such, we entered into a 10-year franchise agreement with Hilton Worldwide to rebrand the Hilton Philadelphia Airport hotel as a DoubleTree by Hilton in November 2014, subject to the completion of certain product improvement requirements that were met as of October 27, 2014. On June 27, 2014, we entered into an agreement with TowneBank to extend the maturity of the mortgage on the Crowne Plaza Hampton Marina in Hampton, Virginia, until June 30, 2016. Under the terms of the extension, we made a principal payment of $0.8 million and are required to make monthly principal payments of $83,000 and interest payments at a rate of 5.0% per annum. On November 21, 2014, we closed on a 7.0% unsecured note offering in the aggregate amount of $25.3 million, of which a portion of the proceeds was used to repay the $19.0 million Bridge Loan, with the remainder to be used for general corporate purposes. On November 24, 2014, we repaid the $19.0 million Bridge Loan. On December 19, 2014, we secured $3.0 million additional proceeds on our mortgage loan on the DoubleTree by Hilton Jacksonville Riverfront property as part of an earnout pursuant to the terms of the existing loan agreement. On May 5, 2015, the Company obtained a $47.0 million mortgage with Bank of America N.A. on the Georgian Terrace in Atlanta, Georgia. The mortgage bears interest at a fixed rate of 4.42% and provides for level payments of principal and interest on a monthly basis under a 30-year amortization schedule. The maturity date is June 1, 2025. The Company used the proceeds of the mortgage to repay the existing first mortgage and to pay closing costs, and will use the balance of the proceeds to partially fund ongoing renovations at the Georgian Terrace and for general corporate purposes. During June 2015, the Company sold 98,682 On July 1, 2015, the Company sold 3,000,000 On July 7, 2015, we entered into a loan agreement and other loan documents to secure an $18.5 million mortgage with Bank of the Ozarks collateralized by a first mortgage on the DoubleTree by Hilton Jacksonville Riverfront. The $18.5 million mortgage was received in two parts. We received $18.0 million on July 7, 2015 and the remainder of $0.5 million on October 20, 2015. The $0.5 million was included with the additional earn-out provision of $1.5 million, for a total of $2.0 million additional proceeds, as described below. The mortgage term is four years maturing July 7, 2019 and may be extended for one additional period of one year, subject to certain criteria. The mortgage bears a floating interest rate of the 30-day LIBOR plus 3.5%, subject to a floor rate of 4.0%. The mortgage amortizes on a 25-year schedule; and has a prepayment penalty if prepaid during the initial two years. The Company used the proceeds from the mortgage to repay the existing first mortgage on the DoubleTree by Hilton Jacksonville Riverfront and to pay closing costs, and will use the balance of the proceeds to partially fund ongoing renovations at the DoubleTree by Hilton Jacksonville Riverfront and for general corporate purposes. On July 17, 2015, the Company On July 31, 2015, we acquired the remaining 75.0% interest in (i) the entity that owns the Crowne Plaza Hollywood Beach Resort, and (ii) the entity that leases the Crowne Plaza Hollywood Beach Resort. As a result, the Operating Partnership now has a 100% indirect ownership interest in the entities that own the Crowne Plaza Hollywood Beach Resort. On September 2, 2015, we closed on the sale of a 0.3 acre parcel of excess land adjacent to our Atlanta, Georgia property for $2.2 million. The parcel was included in the acquisition of the Georgian Terrace in March 2014. We used the proceeds of the sale for general corporate purposes. On September 28, 2015, we entered into a loan agreement to secure a $60.0 million mortgage on the Crowne Plaza Hollywood Beach Resort with Bank of America, N.A. The mortgage term is ten years maturing October 1, 2025, subject to certain criteria. The mortgage bears a fixed interest rate of 4.913%. The mortgage amortizes on a 30-year schedule. The Company used the proceeds from the mortgage to repay the existing first mortgage on the Crowne Plaza Hollywood Beach Resort and to pay closing costs, and will use the balance of the proceeds for general corporate purposes. On October 20, 2015, we secured $2.0 million additional proceeds on the mortgage loan on the DoubleTree by Hilton Jacksonville Riverfront as part of an earn-out pursuant to the terms of the loan agreement. On December 31, 2015, we entered into an amendment to the existing mortgage loan on the DoubleTree by Hilton Laurel which generated additional net proceeds of approximately $2.6 million and received the loan proceeds on January 4, 2016 .

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2015
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 of the accounts of Sotherly Hotels Inc., the Operating Partnership, MHI TRS and subsidiaries and have been prepared using accounting standards generally accepted in the United States of America (“GAAP”). All significant inter-company balances and transactions have been eliminated. The consolidated financial statements of the Operating Partnership presented herein include all of the accounts of Sotherly Hotels LP, MHI TRS and subsidiaries. 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. Investment in Hotel Properties – Investments in hotel properties include investments in operating properties which are recorded at fair value 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. We review our investments in hotel properties for impairment 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. Our review of possible impairment at one of our hotel properties and a re-evaluation of future revenues based on anticipated market conditions, market penetration and costs necessary to achieve such market penetration revealed an excess of current carrying cost over the estimated undiscounted future cash flows and current fair values during the periods ending December 31, 2015 and 2013, resulting in impairments of approximately $0.5 and $0.6 million, as of December 31, 2015 and 2013, respectively. Our review of possible impairment at the same hotel property for 2014, which was triggered by a combination of a change in anticipated use and future branding of the property; and a re-evaluation of future revenues based on anticipated market conditions, market penetration, costs necessary to achieve such market penetration and the then current fair value, resulted in an impairment of approximately $3.2 million, as of December 31, 2014. 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. Investment in Joint Venture – Investment in joint venture represents our noncontrolling indirect 25.0% equity interest, through July 30, 2015, in (i) the entity that owns the Crowne Plaza Hollywood Beach Resort and (ii) the entity that leases the hotel and has engaged Chesapeake Hospitality to operate the hotel under a management contract. Carlyle owned a 75.0% controlling indirect interest in these entities during this period. We accounted for our investment in the joint venture under the equity method of accounting and were entitled to receive our pro rata share of annual cash flow. We also had the opportunity to earn an incentive participation in the net sale proceeds based upon the achievement of certain overall investment returns, in addition to our pro rata share of net sale proceeds. On July 31, 2015, we acquired the remaining 75.0% interest in (i) the entity that owns the Crowne Plaza Hollywood Beach Resort, and (ii) the entity that leases the Crowne Plaza Hollywood Beach Resort. As a result, the Operating Partnership now has a 100% indirect ownership interest in the entities that own the Crowne Plaza Hollywood Beach Resort and consolidates the financial results of operations within the financial statements from August 1, 2015 through December 31, 2015. In addition we recorded a gain on change in control of $6,603,148. The overall enterprise fair value based on underlying acquired assets was used to determine the fair value of the equity interest on the date of acquisition. The value was reduced by a minority interest discount to arrive at the fair value used to calculate the gain on the acquisition. Cash and Cash Equivalents – We consider all highly liquid investments with an original maturity of three months or less to be cash equivalents. Concentration of Credit Risk – We hold 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 reviews, on a regular basis, the balances 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 and banqueting 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 market, 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, 2015 and 2014 were approximately $339,542 and $394,139, respectively. Amortization expense for the years ended December 31, 2015, 2014, and 2013 was $124,632, $50,908 and $49,658, respectively. Deferred Financing and Offering Costs – Deferred financing costs are recorded at cost and consist of loan fees and other costs incurred in issuing debt. Deferred offering costs are recorded at cost and consist of offering fees and other costs incurred in 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. Deferred offering costs are offset against the equity funds raised in the future and included in additional paid in capital on the consolidated balance sheets when the equity offering is complete. When there is a shelf registration the offset may occur when the registration expires or when the funds are raised, and if the offering expires and the offering costs exceed the funds raised in the offering then the excess will be included in corporate general and administrative expenses in the consolidated statements of operations. Derivative Instruments – Our derivative instruments are reflected as assets or liabilities on the 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 primarily used an interest-rate swap, which was required under our then-existing credit agreement and acted as a cash flow hedge involving the receipts of variable-rate amounts from a counterparty in exchange for our making fixed-rate payments without exchange of the underlying principal amount. We valued our 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 also use derivative instruments in the Company’s stock to obtain more favorable terms on our financing. 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 mortgage loans and unsecured notes measured at fair value and the basis for that measurement: Level 1 Level 2 Level 3 December 31, 2014 Investment in hotel property, net (1) $ — $ — $ 6,396,787 Mortgage loans (2) $ — $ (209,994,659 ) $ — Unsecured notes (3) $ (53,816,320 ) $ — $ — December 31, 2015 Investment in hotel property, net (1) $ — $ — $ 5,700,762 Interest Rate Cap (4) $ — $ 70,981 $ — Mortgage loans (2) $ — $ (272,933,327 ) $ — Unsecured notes (3) $ (54,238,600 ) $ — $ — (1) A non-recurring fair value measurement was conducted in both 2014 and 2015 for our investment in hotel property, which resulted in impairment charges for the years ended December 31, 2015 and 2014, which represent the amounts by which the carrying value of the asset group exceeded its fair value. (2) Mortgage loans are reflected at carrying value on our Consolidated Balance Sheet as of December 31, 2015 and December 31, 2014. (3) Unsecured notes are recorded at historical cost on our Consolidated Balance Sheet as of December 31, 2015 and December 31, 2014. (4) An interest rate cap on the DoubleTree by Hilton Jacksonville Riverfront mortgage with the Bank of the Ozarks. 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 – Revenues from operations of the hotels are recognized when the services are provided. Revenues consist of room sales, food and beverage sales, and other hotel department revenues, such as telephone, parking, gift shop sales and rentals from restaurant tenants, rooftop leases and gift shop operators. Revenues are reported net of occupancy and other taxes collected from customers and remitted to governmental authorities. Lease Revenue – Several of our properties generate revenue from leasing commercial space adjacent to the hotel, the restaurant space within the hotel, 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 statement of consolidated operations pursuant to the terms of each lease. Lease revenue was $1,776,518, $1,657,614 and $1,734,944, for the years ended December 31, 2015, 2014, and 2013, respectively. A schedule of minimum future lease payments receivable for the following twelve-month periods is as follows: December 31, 2016 $ 1,336,016 December 31, 2017 $ 863,350 December 31, 2018 $ 352,384 December 31, 2019 $ 233,286 December 31, 2020 $ 188,158 December 31, 2021 and thereafter $ 539,063 Total $ 3,512,257 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. MHI TRS, our wholly owned taxable REIT subsidiary which leases our hotels from subsidiaries of the Operating Partnership, is 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. As of December 31, 2015, 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, 2015, the tax years that remain subject to examination by the major tax jurisdictions to which the Company is subject generally include 2010 through 2015. In addition, as of December 31, 2015, the tax years that remain subject to examination by the major tax jurisdictions to which MHI TRS is subject generally include 2004 through 2014. 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 2004 Long Term Incentive Plan (the “2004 Plan”) and its 2013 Long-Term Incentive Plan (the “2013 Plan”), which the Company’s stockholders approved in April 2013, permit the grant of stock options, restricted stock and performance share compensation awards to its employees for up to 350,000 and 750,000 shares of common stock, respectively. The Company believes that such awards better align the interests of its employees with those of its stockholders. Under the 2004 Plan, the Company has made restricted stock and deferred stock awards totaling 337,438 shares including 255,938 shares issued to certain executives and employees and 81,500 restricted shares issued to its independent directors. Of the 255,938 shares issued to certain of our executives and employees, all have vested except 18,000 shares issued to the Chief Financial Officer upon execution of his employment contract which will vest pro rata on each of the next three anniversaries of the effective date of his employment agreement. All of the 81,500 restricted shares issued to the Company’s independent directors have vested. The 2004 plan was terminated in 2013. Under the 2013 Plan, the Company has made stock awards totaling 109,100 shares, including 74,600 non-restricted shares to certain executives, directors and employees, and 34,500 restricted shares issued to its independent directors. All awards have vested except for 12,000 shares issued to the Company’s independent directors in January 2016. Previously, under the 2004 Plan, and currently, under the 2013 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, 2015, 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. Total compensation cost recognized under the 2004 Plan and 2013 Plan for the years ended December 31, 2015, 2014, and 2013 was $285,978, $245,565 and $323,800, respectively. The 2004 Plan was terminated in April 2013. Advertising – Advertising costs were $280,625, $198,991 and $181,886 for the years ended December 31, 2015, 2014, and 2013, respectively and are expensed as incurred. Comprehensive Income (Loss) – Comprehensive income (loss), as defined, includes all changes in equity (net assets) during a period from non-owner sources. We do not have any items of comprehensive income (loss) other than net income (loss). Segment Information – We have 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 April 2015, the FASB issued Accounting Standards Update (“ASU”) 2015-03 related to “Simplifying the Presentation of Debt Issuance Costs,” as part of its simplification initiative. The ASU changes the presentation of debt issuance costs in financial statements. Under the ASU, an entity presents such costs in the balance sheet as a direct deduction from the related debt liability rather than as an asset. Amortization of the costs is reported as interest expense. The ASU specifies that “issue costs shall be reported in the balance sheet as a direct deduction from the face amount of the note” and that “amortization of debt issue costs shall also be reported as interest expense.” According to the ASU’s Basis for Conclusions, debt issuance costs incurred before the associated funding is received (i.e., the debt liability) should be reported on the balance sheet as deferred charges until that debt liability amount is recorded. For public business entities, the guidance in the ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015 and is applicable for our interim periods within 2016. Early adoption is allowed for all entities for financial statements that have not been previously issued. Entities would apply the new guidance retrospectively to all prior periods (i.e., the balance sheet for each period is adjusted). We do expect this ASU to have a material impact on the Company’s consolidated financial position and cash flows and will be applied during our 2016 reporting. In February 2015, the FASB issued Accounting Standards Update (“ASU”) 2015-02 related to ASC Topic 810, Consolidation. In May 2014, the FASB issued Accounting Standards Update (“ASU”) 2014-09 related to ASC Topic 606, Revenue from Contracts with Customers. Revenue Recognition Revenue Recognition—Construction-Type and Production-Type Contracts Property, Plant, and Equipment Intangibles—Goodwill and Other As issued, this ASU is not effective until annual reporting periods beginning after December 15, 2016, however the FASB has deferred the effective date of ASU 2014-09 such that it would be effective for annual reporting periods beginning after December 15, 2017.

Acquisition of Hotel Properties

Acquisition of Hotel Properties	12 Months Ended
	Dec. 31, 2015
Business Combinations [Abstract]
Acquisition of Hotel Properties	3. Acquisition of Hotel Properties Hollywood Beach and Atlanta Acquisitions. On July 31, 2015, we acquired the remaining 75.0% interest in the 311-room Crowne Plaza Hollywood Beach Resort in Hollywood Beach, Florida, for approximately $25.5 million, net cash. On March 27, 2014, we acquired the 326-room Georgian Terrace in Atlanta, Georgia, for approximately $61.1 million, net cash. The allocation of the purchase price based on their fair values was as follows: Georgian Terrace Crowne Land and land improvements $ 10,127,687 $ 24,008,289 Buildings and improvements 45,385,939 64,854,787 Furniture, fixtures and equipment 5,163,135 2,802,135 Investment in hotel properties 60,676,761 91,665,211 Restricted cash 124,658 1,159,759 Accounts receivable 465,287 140,588 Prepaid expenses, inventory and other assets 430,997 797,505 Assumed mortgage — (57,259,159 ) Accounts payable and accrued liabilities (591,618 ) (2,517,380 ) Equity investment — (1,857,622 ) Gain on change in control — (6,603,148 ) Net cash $ 61,106,085 $ 25,525,754 The results of operations of the Georgian Terrace and the Crowne Plaza Hollywood Beach Resort are included in our consolidated financial statements from the dates of acquisition. The total revenue and net loss related to the acquisition of the Georgian Terrace, for the period March 27, 2014 to December 31, 2014 are approximately $ 16.4 million and $ 2.2 million, respectively and the total revenue and net loss related to the acquisition of the Crowne Plaza Hollywood Beach Resort, for the period from August 1, 2015 to December 31, 2015 are approximately $ 5.2 million and $ 1.1 million, respectively. The following pro forma financial information presents the results of operations of the Company and the Operating Partnership for the years ended December 31, 2015 and 2014, as if the acquisitions of the Georgian Terrace and the Crowne Plaza Hollywood Beach Resort had December 31, 2015 December 31, 2014 (unaudited) (unaudited) Pro forma revenues $ 151,931,931 $ 147,451,042 Pro forma operating expenses $ 133,346,497 $ 129,961,867 Pro forma operating income $ 18,585,434 $ 17,489,175 Pro forma net income (loss) $ 1,017,180 $ (1,671,774 ) Pro forma earnings (loss) per basic and diluted share $ 0.07 $ (0.10 ) Pro forma earnings (loss) per basic and diluted units $ 0.07 $ (0.10 ) Pro forma basic and diluted common shares 12,541,117 13,812,125 Pro forma basic and diluted units 14,924,410 16,542,413

Investment in Hotel Properties

Investment in Hotel Properties	12 Months Ended
	Dec. 31, 2015
Real Estate [Abstract]
Investment in Hotel Properties	4. Investment in Hotel Properties Investment in hotel properties as of December 31, 2015 and 2014 consisted of the following: December 31, 2015 December 31, 2014 Land and land improvements $ 59,910,212 $ 37,483,400 Buildings and improvements 333,720,421 257,343,516 Furniture, fixtures and equipment 42,245,334 38,762,997 435,875,967 333,589,913 Less: accumulated depreciation and impairment (80,912,725 ) (73,397,760 ) $ 354,963,242 $ 260,192,153 Our review of possible impairment at one of our hotel properties and a re-evaluation of future revenues based on anticipated market conditions, market penetration and costs necessary to achieve such market penetration revealed an excess of current carrying cost over the estimated undiscounted future cash flows and current fair values during the periods ending December 31, 2015 and 2013, resulting in impairments of approximately $0.5 and $0.6 million, as of December 31, 2015 and 2013, respectively. Our review of possible impairment at the same hotel property for 2014, which was triggered by a combination of a change in anticipated use and future branding of the property; and a re-evaluation of future revenues based on anticipated market conditions, market penetration, costs necessary to achieve such market penetration and the then current fair value, resulted in an impairment of approximately $3.2 million, as of December 31, 2014.

Debt

Debt	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Debt	5. Debt Mortgage Debt. As of December 31, 2015 and 2014, we had approximately $272.0 million and approximately $205.3 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 2015 2014 Penalties Date Provisions Rate Crowne Plaza Hampton Marina $ 3,512,586 $ 4,509,500 None 6/30/2016 $ 83,000 (1) 5.00% (2) Crowne Plaza Hollywood Beach Resort 59,795,743 — N/A (3) 10/1/2025 30 years 4.913% Crowne Plaza Houston Downtown 20,459,256 20,954,867 None 11/13/2017 (4) 25 years 4.50% Crowne Plaza Tampa Westshore 13,016,045 13,317,684 None 6/18/2017 25 years 5.60% DoubleTree by Hilton Jacksonville Riverfront 19,774,577 16,358,706 Yes (5) 7/7/2019 (6) 25 years LIBOR plus 3.50 % DoubleTree by Hilton Laurel 9,500,000 6,974,458 Yes (7) 8/5/2021 25 years 5.25% (8) DoubleTree by Hilton Philadelphia Airport 32,376,795 33,378,102 None 4/1/2019 25 years LIBOR plus 3.00 % (9) DoubleTree by Hilton Raleigh Brownstone –University 15,029,121 15,274,284 N/A (10) 8/1/2018 30 years 4.78% Georgian Terrace 46,579,011 41,500,000 N/A (11) 6/1/2025 30 years 4.42% Hilton Savannah DeSoto 20,522,836 21,050,093 Yes (12) 9/1/2017 25 years 6.06% Hilton Wilmington Riverside 19,825,772 20,389,325 Yes (12) 4/1/2017 25 years 6.21% Sheraton Louisville Riverside 11,345,866 11,584,638 N/A (10) 1/6/2017 25 years 6.24% Total Mortgage Principal Balance $ 271,737,608 $ 205,291,657 Unamortized premium on loan 240,336 - Total Mortgage Loans $ 271,977,944 $ 205,291,657 (1) The Operating Partnership is required to make monthly principal payments of $83,000. (2) The note rate was changed to a fixed rate of 5.00%, effective June 27, 2014. (3 ) With limited exception, the note may not be prepaid until June 2025. (4) The note was extended in March 2016 and provides that the mortgage can be extended until November 2018 if certain conditions have been satisfied. (5) The note is subject to a pre-payment penalty until July 2017. Prepayment can be made without penalty thereafter. (6 ) The note provides that the mortgage can be extended until July 2020 if certain conditions have been satisfied. (7 ) The note is subject to a pre-payment penalty except for any pre-payments made either between April 2017 and August 2017, or from April 2021 through maturity of the note. (8) The note provides that after five years, the rate of interest will adjust to a rate of 3.00% per annum plus the then-current five-year U.S. Treasury rate of interest, with a floor of 5.25%. (9 ) The note bears a minimum interest rate of 3.50%. (10 ) With limited exception, the note may not be prepaid until two months before maturity. (11 ) With limited exception, the note may not be prepaid until February 2025. (12 ) The notes may not be prepaid during the first six years of the terms. Prepayment can be made with penalty thereafter until 90 days before maturity. We were in compliance with all debt covenants, current on all loan payments and not otherwise in default under any of our mortgage loans, as of December 31, 2015. Total future mortgage debt maturities, without respect to any extension of loan maturity, as of December 31, 2015 were as follows: December 31, 2016 $ 9,364,807 December 31, 2017 86,711,703 December 31, 2018 18,184,906 December 31, 2019 49,559,118 December 31, 2020 2,237,443 December 31, 2021 and thereafter 105,679,631 Total future maturities $ 271,737,608 7.0% Unsecured Notes. On November 21, 2014, the Operating Partnership issued 7.0% senior unsecured notes in the aggregate amount of $25.3 million (the “7% Notes”). The indenture requires quarterly payments of interest and matures on November 15, 2019. The 7% Notes are callable after November 15, 2017 at 101% of face value. 8.0% Unsecured Notes. On September 30, 2013, the Operating Partnership issued 8.0% senior unsecured notes in the aggregate amount of $27.6 million (the “8% Notes”). The indenture requires quarterly payments of interest and matures on September 30, 2018. The 8% Notes are callable after September 30, 2016 at 101% of face value. Bridge Loan. On March 26, 2014, we entered into a Note Agreement, Guaranty, and Pledge Agreement to secure a $19.0 million secured Bridge Loan with the Bridge Lenders. The Bridge Loan had a maturity date of March 26, 2015; carried a fixed interest rate of 10.0% per annum; was subject to a prepayment premium if the loan is prepaid in full or in part prior to March 26, 2015; required mandatory prepayment upon certain events; contained limited financial covenants; and was secured by a lien on 100% of the limited partnership interests in the subsidiary that owns the DoubleTree by Hilton Philadelphia Airport hotel. On November 24, 2014, the Bridge Loan was repaid with the proceeds of a $25.3 million 7.0% senior unsecured note offering. There was no outstanding balance on the Bridge Loan at December 31, 2015 and December 31, 2014, respectively.

Preferred Stock, Preferred Inte

Preferred Stock, Preferred Interest and Warrants	12 Months Ended
	Dec. 31, 2015
Preferred Stock Preferred Interest And Warrants [Abstract]
Preferred Stock, Preferred Interest and Warrants	6. Preferred Stock, Preferred Interest and Warrants Preferred Stock and Preferred Interest. On April 18, 2011, the Company completed a private placement to the Investors pursuant to the Securities Purchase Agreement for gross proceeds of $25.0 million. The Company issued 25,000 shares of Preferred Stock and the Essex Warrant to purchase 1,900,000 shares of the Company’s common stock, par value $0.01 per share. The Company designated a class of preferred stock, the Preferred Stock, consisting of 27,650 shares with $0.01 par value per share, having a liquidation preference of $1,000.00 per share pursuant to Articles Supplementary (the “Articles Supplementary”), which sets forth the preferences, rights and restrictions for the Preferred Stock. The Preferred Stock is non-voting and non-convertible. The holders of the Preferred Stock had a right to payment of a cumulative dividend payable quarterly (i) in cash at an annual rate of 10.0% of the liquidation preference per share and (ii) in additional shares of Preferred Stock at an annual rate of 2.0% of the liquidation preference per share. As set forth in the Articles Supplementary, the holder(s) of the Company’s Preferred Stock had the exclusive right, voting separately as a single class, to elect one (1) member of the Company’s board of directors. As of December 31, 2011, there were 25,354 shares of the Preferred Stock issued and outstanding. In addition, under certain circumstances as set forth in the Articles Supplementary, the holder(s) of the Company’s Preferred Stock would have been entitled to appoint a majority of the members of the Company’s board of directors. The holder(s) of the Company’s Preferred Stock would have been entitled to require that the Company redeem the Preferred Stock under certain circumstances, but no later than April 18, 2016, and on such terms and at such price as is set forth in the Articles Supplementary. Concurrently with the issuance of the Preferred Stock, the Operating Partnership issued the Preferred Interest to the Company in an amount equivalent to the proceeds of the Preferred Stock received by the general partner pursuant to the terms of the Partnership Agreement. The Partnership Agreement also authorizes the general partner to make special distributions to the Company related to its Preferred Interest for the sole purpose of fulfilling the Company’s obligations with respect to the Preferred Stock. In addition, the Operating Partnership issued the OP Warrant to purchase 1,900,000 partnership units at an amount equal to the consideration received by the Company upon exercise of the Essex Warrant, as amended. On June 15, 2012, the Company entered into an agreement with the holders of the Company’s Preferred Stock to redeem 11,514 shares of Preferred Stock for an aggregate redemption price of approximately $12.3 million plus the payment of related accrued and unpaid cash and stock dividends. On June 18, 2012, we used a portion of the proceeds of the mortgage on the Crowne Plaza Tampa Westshore to make a special distribution by the Operating Partnership to the Company to redeem the 11,514 shares of Preferred Stock. The redemption resulted in a prepayment fee of approximately $0.8 million. In addition, approximately $0.7 million in unamortized issuance costs related to the redeemed shares were written off. On March 26, 2013, we used the net proceeds of an expansion of the mortgage on the DoubleTree by Hilton Raleigh Brownstone-University to make a special distribution by the Operating Partnership to the Company to redeem 1,902 shares of Preferred Stock for an aggregate redemption price of approximately $2.1 million plus the payment of related accrued and unpaid cash and stock dividends. The redemption resulted in a prepayment fee of approximately $0.2 million. In addition, approximately $0.1 million in unamortized issuance costs related to the redeemed shares were written off. On August 1, 2013, we used the net proceeds of a new mortgage on the DoubleTree by Hilton Raleigh Brownstone-University to make a special distribution by the Operating Partnership to the Company to redeem 2,460 shares of Preferred Stock for an aggregate redemption price of approximately $2.7 million plus the payment of related accrued and unpaid cash and stock dividends. The redemption resulted in a prepayment fee of approximately $0.2 million. In addition, approximately $0.1 million in unamortized issuance costs related to the redeemed shares were written off. On September 30, 2013, we used a portion of the proceeds of the 8% Notes offering to make a special distribution by the Operating Partnership to the Company to redeem the remaining outstanding shares of Preferred Stock for an aggregate redemption price of approximately $10.7 million plus the payment of related accrued and unpaid cash and stock dividends. The redemption resulted in a prepayment fee of approximately $0.7 million. In addition, approximately $0.4 million in unamortized issuance costs related to the redeemed shares were written off. As of December 31, 2015 and 2014, there were no shares of the Preferred Stock issued and outstanding, respectively. As of December 31, 2015 and 2014, there was no redemption value of the Preferred Interest, respectively. Warrants. The Essex Warrant, as modified, entitled the holder(s) to purchase up to 1,900,000 shares of the Company’s common stock at an exercise price of $2.25 per share. Pursuant to an amendment to the Essex Warrant, the exercise price per share of common stock covered by the Essex Warrant adjusted from time to time in the event of payment of cash dividends to holders of common stock by deducting from such exercise price the per-share amount of such cash dividends. Such adjustment did not take into account dividends declared prior to January 1, 2012. Concurrently with the issuance of the Essex Warrant, the Operating Partnership issued the OP Warrant to the Company. Under the terms of the OP Warrant, the Company was obligated to exercise the OP Warrant immediately and concurrently if at any time the Essex Warrant was exercised by its holders. In that event, the Operating Partnership would have issued an equivalent number of partnership units and would have been entitled to receive the proceeds received by the Company upon exercise of the Essex Warrant. On October 23, 2013, the Company redeemed the First Tranche of Redeemed Warrant Shares for an aggregate cash redemption price of $3.2 million. The First Tranche of Redeemed Warrant Shares are no longer Issuable Warrant Shares under the OP Warrant, and all exercise and other rights of the Initial Holders in respect of the Redeemed Warrant Shares under the Essex Warrant are terminated and extinguished. Concurrently with the redemption of the 900,000 Issuable Warrant Shares, the Operating Partnership redeemed 900,000 Issuable Warrant Units, as defined in the OP Warrant, for an aggregate cash redemption price of $3.2 million. On December 23, 2013, the Company redeemed the Final Tranche of Redeemed Warrant Shares for an aggregate cash redemption price of approximately $4.0 million. The Final Tranche of Redeemed Warrant Shares are no longer Issuable Warrant Shares under the OP Warrant, and all exercise and other rights of the Initial Holders in respect of the Redeemed Warrant Shares under the Essex Warrant are terminated and extinguished. Concurrently with the redemption of the 1,000,000 Issuable Warrant Shares, the Operating Partnership redeemed 1,000,000 Issuable Warrant Units, as defined in the OP Warrant, for an aggregate cash redemption price of approximately $4.0 million. The redeemed warrant units are no longer Issuable Warrant Units under the OP Warrants, and all rights under the OP Warrants are terminated and extinguished. On the date of issuance, we determined the fair market value of the warrants was approximately $1.6 million using the Black-Scholes option pricing model assuming an exercise price of $2.25 per share of common stock, a risk-free interest rate of 2.26%, a dividend yield of 5.00%, expected volatility of 60.0%, and an expected term of 5.5 years. The fair market value is included in deferred financing costs. The deferred cost was amortized to interest expense in the accompanying consolidated statement of operations over the period of issuance to the mandatory redemption date of the preferred stock.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2015
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	7. Commitments and Contingencies Ground, Building and Submerged Land Leases – We lease 2,086 square feet of commercial space next to the Hilton Savannah 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 second of three optional five-year renewal periods expiring October 31, 2011, October 31, 2016 and October 31, 2021, respectively. Rent expense for this operating lease for the years ended December 31, 2015, 2014, and 2013 was $65,054, $63,468 and $64,700, 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 a parking lot adjacent to the DoubleTree by Hilton Raleigh Brownstone-University in Raleigh, North Carolina. The land is leased under a second amendment, dated April 28, 1998, to a ground lease originally dated May 25, 1966. The original lease is a 50-year operating lease, which expires August 31, 2016. We exercised a renewal option for the first of three additional ten-year periods expiring August 31, 2026, August 31, 2036, and August 31, 2046, respectively. We hold an exclusive and irrevocable option to purchase the leased land at fair market value at the end of the original lease term, subject to the payment of an annual fee of $9,000, and other conditions. For each of the years ended December 31, 2015, 2014, and 2013, rent expense was $95,482. We lease land adjacent to the Crowne Plaza Tampa Westshore for use as parking under a five-year agreement with the Florida Department of Transportation that commenced in July 2009 and expires in July 2019. The agreement requires annual payments of $2,432, plus tax, and may be renewed for an additional five years. Rent expense for the years ended December 31, 2015, 2014, and 2013 was $2,602, $2,602 and $3,036, respectively. We lease certain submerged land in the Saint Johns River in front of the DoubleTree by Hilton Jacksonville Riverfront from the Board of Trustees of the Internal Improvement Trust Fund of the State of Florida. The submerged land was leased under a five-year operating lease requiring annual payments of $4,961, which expired September 18, 2012. A new operating lease was executed requiring annual payments of $6,020 and expires September 18, 2017. Rent expense for the years ended December 31, 2015, 2014, and 2013 was $6,020, $6,020 and $6,020, respectively. We lease 4,836 square feet of commercial office space in Williamsburg, Virginia under an agreement, as amended, that commenced September 1, 2009 and expires August 31, 2018. Rent expense for each of the years ended December 31, 2015, 2014, and 2013 was $83,651, $71,039 and $63,393, respectively. We leased 1,632 square feet of commercial office space in Rockville, Maryland under an agreement that was to expire February 28, 2017. We terminated this lease early by replacing our lease with another tenant lease and prepaying an amount of $21,000. The agreement required monthly payments at an annual rate of $22,848 for the first year of the lease term and monthly payments at an annual rate of $45,696 for the second year of the lease term, increasing 2.75% per year for the remainder of the lease term. Rent expense for the years ended December 31, 2015, 2014, and 2013 was $62,949, $50,277 and $47,813, respectively. We also lease certain furniture and equipment under financing arrangements expiring between June 2016 and March 2019. A schedule of minimum future lease payments for the following twelve-month periods is as follows: December 31, 2016 $ 337,386 December 31, 2017 256,211 December 31, 2018 188,070 December 31, 2019 121,196 December 31, 2020 95,482 December 31, 2021 and thereafter 541,065 Total $ 1,539,410 Employment Agreements — The Company has entered into various employment contracts with employees that could result in obligations to the Company in the event of a change in control or termination without cause. Management Agreements – At December 31, 2015, each of our wholly-owned operating hotels was operated under a management agreement with Chesapeake Hospitality. Effective January 1, 2015, each of our wholly-owned hotels operated under a new master agreement as well as an individual hotel management agreement (see Note 9). On July 31, 2015, upon acquisition of the Crowne Plaza Hollywood Beach Resort, we entered into a management agreement for the management of said hotel pursuant to the form of individual hotel management agreement provided for under the master agreement. 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, 2015, 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 2.5% and 5.0% of room revenues, plus additional fees for marketing, central reservation systems, and other franchisor programs and services that amount to between 2.5% and 6.0% of room revenues from the hotels. The franchise agreements currently expire between April 2016 and October 2030. On August 7, 2014, we voluntarily terminated the franchise agreement with Holiday Hospitality Franchising, LLC (IHG) for the Crowne Plaza Jacksonville Riverfront effective September 1, 2015 and recognized a termination fee of $351,800. The property has been rebranded as the DoubleTree by Hilton Jacksonville Riverfront. 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 Hilton Wilmington Riverside, the Hilton Savannah DeSoto, the DoubleTree by Hilton Raleigh Brownstone-University, the DoubleTree by Hilton Jacksonville Riverside, the Crowne Plaza Hollywood Beach Resort, the Sheraton Louisville Riverside and the Georgian Terrace an amount equal to 1 / 12 of the annual real estate taxes due for the properties. We are also required by several of its 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 Hilton Savannah DeSoto, the Hilton Wilmington Riverside, the DoubleTree by Hilton Jacksonville Riverside, the Crowne Plaza Hollywood Beach Resort, the Sheraton Louisville Riverside, DoubleTree by Hilton Raleigh Brownstone–University, Crowne Plaza Houston Downtown, Crowne Plaza Hampton Marina and the Georgian Terrace and equal 4.0% of room revenues for the DoubleTree by Hilton Philadelphia Airport. 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 this report, 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 impact on our financial condition or results of operations.

Equity

Equity	12 Months Ended
	Dec. 31, 2015
Equity [Abstract]
Equity	8. Equity Preferred Stock – The Company has authorized 1,000,000 shares of preferred stock, of which 27,650 shares were issued as Series A Cumulative Redeemable Preferred Stock, as described above, and subsequently redeemed in 2013. None of the remaining authorized shares have been issued. Common Stock – The Company is authorized to issue up to 49,000,000 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, 2015, 2014, and 2013 of the Company’s common stock: On September 16, 2015, one holder of units in the Operating Partnership redeemed a total of 200,000 units for an equivalent number of shares of the Company’s common stock. On July 17, 2015, the Company sold 435,000 shares of common stock for net proceeds of approximately $2.8 million, which it contributed to the Operating Partnership for an equivalent number of units. On July 1, 2015, the Company sold 3,000,000 shares of common stock, for net proceeds of approximately $19.8 million, which it contributed to the Operating Partnership for an equivalent number of units. During June 2015, the Company sold 98,682 shares of common stock for net proceeds of approximately $0.7 million, which it contributed to the Operating Partnership for an equivalent number of units. On May 1, 2015, one holder of units in the Operating Partnership redeemed a total of 50,000 units for an equivalent number of shares of the Company’s common stock. On April 1, 2015, one holder of units in the Operating Partnership redeemed 100,000 units for an equivalent number of shares of the Company’s common stock. On January 29, 2015, the Company was issued 36,100 units in the Operating Partnership and awarded an aggregate of 26,350 shares of unrestricted stock to certain executives and employees as well as 9,750 shares of restricted stock to certain of its independent directors. On October 1, 2014, one holder of units in the Operating Partnership redeemed 200,000 units for an equivalent number of shares of the Company’s common stock. During September 2014, the Company sold 16,979 shares of common stock for net proceeds of $122,793, which it contributed to the Operating Partnership for an equivalent number of units. During August 2014, the Company sold 276 shares of common stock for net proceeds of $2,118, which it contributed to the Operating Partnership for an equivalent number of units. On April 1, 2014, two holders of units in the Operating Partnership redeemed 110,000 units for an equivalent number of shares of the Company’s common stock. On February 14, 2014, the Company was issued 36,750 units in the Operating Partnership and awarded an aggregate of 24,000 shares of unrestricted stock to certain executives as well as 12,000 shares of restricted stock and 750 share of unrestricted stock to certain of its independent directors. On August 14, 2013, one holder of units in the Operating Partnership redeemed 50,000 units for an equivalent number of shares of the Company’s common stock. On April 1, 2013, one holder of units in the Operating Partnership redeemed 31,641 units for an equivalent number of shares of the Company’s common stock. On March 1, 2013, one holder of units in the Operating Partnership redeemed 50,000 units for an equivalent number of shares of the Company’s common stock. On January 25, 2013, the Company was issued 45,500 units in the Operating Partnership and awarded an aggregate of 30,500 shares of unrestricted stock to certain executives and employees as well as 15,000 shares of restricted stock to certain of its independent directors. On January 1, 2013, the Company was issued 30,000 units in the Operating Partnership and granted 30,000 restricted shares to its Chief Financial Officer in accordance with the terms of his employment contract. As of December 31, 2015, the Company had 14,490,714 shares of common stock outstanding. Warrants for Shares of Common Stock – The Company has granted no warrants representing the right to purchase common stock other than the Essex Warrant described in Note 6. 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. The following is a list of issuance and redemption events, since January 2013, of units in the Operating Partnership in addition to the issuances of units in the Operating Partnership to the Company and redemptions for the Company’s common stock described above: On November 1, 2014, the Operating Partnership redeemed 3,300 units held by a trust controlled by two members of the Board of Directors for a total of $25,621, pursuant to the terms of the partnership agreement. On November 13, 2013, the Operating Partnership issued 32,929 limited partnership units in conjunction with the purchase of the partnership interests in HHA, which is the sole owner of the Crowne Plaza Houston Downtown. On April 1, 2013, the Operating Partnership redeemed 10,000 units held by a trust controlled by two members of the Board of Directors for a total of $32,900 pursuant to the terms of the partnership agreement. As of December 31, 2015 and 2014, the total number of Operating Partnership units outstanding was 16,691,541 and 13,121,759, respectively. As of December 31, 2015 and 2014, the total number of outstanding units in the Operating Partnership not owned by the Company was 2,200,827 and 2,550,827, respectively, with a fair market value of approximately $15.0 million and approximately $19.1 million, respectively, based on the price per share of the common stock on such respective dates. Warrants for Units in the Operating Partnership – The Operating Partnership has granted no warrants representing the right to purchase limited partnership units other than the Warrant described in Note 6. Distributions – The following table presents the quarterly distributions by the Operating Partnership declared and payable per unit for the years ended December 31, 2015, 2014, and 2013: Quarter Ended 2013 2014 2015 March 31, $ 0.035 $ 0.045 0.070 June 30, $ 0.035 $ 0.050 0.075 September 30, $ 0.040 $ 0.065 0.080 December 31, $ 0.045 $ 0.065 0.080

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2015
Related Party Transactions [Abstract]
Related Party Transactions	9. Related Party Transactions Chesapeake Hospitality. As of December 31, 2015, the members of Chesapeake Hospitality (a company that is majority-owned and controlled by the Company’s chief executive officer, its former chief financial officer, a member of its Board of Directors and a former member of its Board of Directors) owned 1,329,314 shares, approximately 9.2%, of the Company’s outstanding common stock as well as 1,292,958 Operating Partnership units. The following is a summary of the transactions between Chesapeake Hospitality and us: Accounts Receivable – At December 31, 2015 and 2014, we were due $0 and $50,838, respectively, from Chesapeake Hospitality. Shell Island Sublease – We had a sublease arrangement with Chesapeake Hospitality on our expired leasehold interests in the property at Shell Island. For the years ended December 31, 2015, 2014, and 2013, we earned $0, $350,000 and $350,000, respectively, in leasehold revenue. The underlying leases at Shell Island expired on December 31, 2011. Strategic Alliance Agreement – On December 21, 2004, we entered into a ten-year strategic alliance agreement with Chesapeake Hospitality that provides in part for the referral of acquisition opportunities to the Company and the management of its hotels by Chesapeake Hospitality. The agreement expired on December 15, 2014, in conjunction with the execution of the new management agreement, Management Agreements – Each of the hotels that we wholly-owned at December 31, 2015 and 2014, are operated by Chesapeake Hospitality under various management agreements that were to expire between December 2014 and March 2019. Under those now terminated agreements, Chesapeake Hospitality received a base management fee of 2.0% of gross revenues for the first full fiscal year and partial fiscal year from the commencement date through December 31 of that year, 2.5% of gross revenues the second full fiscal year, and 3.0% of gross revenues for every year thereafter. The agreements also provided for an incentive management fee due annually in arrears within 90 days of the end of the fiscal year equal to 10.0% of the amount by which the gross operating profit of the hotels, on an aggregate basis for eight hotels and on an individual basis for two other hotels, for a given year exceeds the gross operating profit for the same hotel(s), for the prior year. The incentive management fee may not exceed 0.25% of gross revenues of all of the hotel(s) included in the incentive fee calculation. The management agreement for the Crowne Plaza Houston Downtown did not provide for any incentive management fee. Additionally, the management agreement for the Georgian Terrace provided for an administrative fee of $30,000 per year for as long as the adjacent parking garage is managed by a third party. On December 15, 2014, we entered into a new master agreement and a series of individual hotel management agreements that became effective on January 1, 2015. The master agreement has a five-year term, but may be extended for such additional periods as long as an individual management agreement remains in effect. The base management fee for the Crowne Plaza Houston Downtown and the Georgian Terrace will remain at 2.00% through 2015, increases to 2.25% in 2016 and increases to 2.50% thereafter. The base management fees for the remaining properties in the current portfolio will be 2.65% through 2017 and decreases to 2.50% thereafter. For new individual hotel management agreements, Chesapeake Hospitality 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. Base management fees earned by Chesapeake Hospitality totaled $3,371,668, $3,342,782 and $2,652,070 for the years ended December 31, 2015, 2014, and 2013, respectively. In addition, incentive management fees of $79,555, $97,025 and $67,502 were accrued for the years ended December 31, 2015, 2014, and 2013, respectively. Employee Medical Benefits – We purchase employee medical benefits through Maryland Hospitality, Inc. (d/b/a MHI Health), an affiliate of Chesapeake Hospitality for our employees as well as those employees that are employed by Chesapeake Hospitality that work exclusively for our hotel properties. Gross premiums for employee medical benefits paid by the Company (before offset of employee co-payments) were $4,541,546, $3,748,587 and $2,592,115 for the years ended December 31, 2015, 2014, and 2013, respectively. Crowne Plaza Hollywood Beach Resort. As of December 31, 2015, w e own 100% of the Crowne Plaza Hollywood Beach Resort, which is no longer considered a related party and has a new management agreement as of July 31, 2015. However , through July 3 0 , 2015 we owned a 25.0% indirect interest in (i) the entity that owns the Crowne Plaza Hollywood Beach Resort and (ii) the entity that leases the hotel and has engaged Chesapeake Hospitality to operate the hotel under a management contract. The following is a summary of the transactions between Crowne Plaza Hollywood Beach Resort and us: Accounts Receivable – At December 31, 2015 and 2014, we were due $0 and $146,836, respectively, from Crowne Plaza Hollywood Beach Resort. Management Agreement – Crowne Plaza Hollywood Beach Resort was operated by Chesapeake Hospitality under a management agreement that was set to expire August 2017. Under this agreement Chesapeake Hospitality received a base management fee of 3.0% of gross revenues. Base management fees earned by Chesapeake Hospitality totaled $401,954, $592,119 and $560,847 for the period ended July 31, 2015 and the years ended December 31, 2014, and 2013, respectively. Asset Management Fee – Also, under an asset management agreement that terminated on July 31, 2015, MHI Hospitality TRS II, LLC, an indirect subsidiary of the Company, receives a fee of 1.50% of total revenue which is due on a quarterly basis for services rendered. Asset management fees for the period ended July 31, 2015 and the years ended December 31, 2014, and 2013 were $200,976, $300,607 and $280,274, respectively. Unpaid asset management fees included in accounts payable and accrued liabilities at December 31, 2015, 2014, and 2013 totaled $0, $73,278 and $74,464, respectively Redemption of Units in Operating Partnership – During 2014, we redeemed a total of 3,300 units in its Operating Partnership held by a trust controlled by one current member of our Board of Directors for a total of $25,621 pursuant to the terms of the partnership agreement. Sotherly Foundation – During 2015, the Company loaned $180,000 to the Sotherly Foundation, a non-profit organization to benefit wounded warriors. As of December 31, 2015, the balance of the loan was $160,000. Issuance of Units in Operating Partnership – In connection with the acquisition of the Crowne Plaza Houston Downtown Hotel in November 2013, we purchased from MHI Hotels its 1.0% limited partnership interest in HHA, the entity that owns the property, in exchange for 32,929 units of limited partnership interests in the Operating Partnership valued at $153,636 pursuant to an exchange agreement entered into between the Operating Partnership and MHI Hotels. The indirect equity owners of MHI Hotels include the Company’s chief executive officer, Andrew M. Sims, and a member of the Company’s board of directors, Kim E. Sims. Modified Excepted Holder. On July 10, 2012, the Company amended the terms of the outstanding Essex Warrant by establishing a modified excepted holder limit (as defined in the Company’s Articles of Amendment and Restatement) for the Investors. On December 23, 2013, the Company’s board of directors terminated and extinguished the excepted holder limit and excepted holder status for the Investors in connection with the redemption of the Essex Warrant. Preferred Stock Redemptions. On March 26, 2013, we used the net proceeds of an expansion of the mortgage on the DoubleTree by Hilton Raleigh Brownstone-University to make a special distribution by the Operating Partnership to the Company to redeem 1,902 shares of Preferred Stock for an aggregate redemption price of approximately $2.1 million plus the payment of related accrued and unpaid cash and stock dividends. The redemption resulted in a prepayment fee of approximately $0.2 million. On August 1, 2013, we used the net proceeds of a new mortgage on the DoubleTree by Hilton Raleigh Brownstone-University to make a special distribution by the Operating Partnership to the Company to redeem 2,460 shares of Preferred Stock for an aggregate redemption price of approximately $2.7 million plus the payment of related accrued and unpaid cash and stock dividends. The redemption resulted in a prepayment fee of approximately $0.2 million. On September 30, 2013, we used a portion of the proceeds of the 8% Notes offering to make a special distribution by the Operating Partnership to the Company to redeem the remaining outstanding shares of Preferred Stock for an aggregate redemption price of approximately $10.7 million plus the payment of related accrued and unpaid cash and stock dividends. The redemption resulted in a prepayment fee of approximately $0.7 million. Essex Warrant Redemptions. On October 23, 2013, the Company entered into an agreement to redeem the First Tranche of Redeemed Warrant Shares for an aggregate cash redemption price of $3.2 million. The First Tranche of Redeemed Warrant Shares are no longer Issuable Warrant Shares under the Essex Warrant, and all exercise and other rights of the Initial Holders in respect of the Redeemed Warrant Shares under the Essex Warrant were terminated and extinguished. On December 23, 2013, the Company entered into an agreement to redeem the Final Tranche of Redeemed Warrant Shares for an aggregate cash redemption price of approximately $4.0 million. The Final Tranche of Redeemed Warrant Shares are no longer Issuable Warrant Shares under the Essex Warrant, and all exercise and other rights of the Initial Holders in respect of the Redeemed Warrant Shares under the Essex Warrant were terminated and extinguished. Others. On June 24, 2013 we hired Ashley S. Kirkland, the daughter of our Chief Executive Officer as a legal analyst and Robert E. Kirkland IV, her husband, as our compliance officer. On October 2, 2014, we hired Andrew M. Sims Jr., the son of our Chief Executive Officer, as a brand manager. Compensation for the years ended December 31, 2015 and 2014 totaled approximately $270,240 and $204,000, respectively, for the three individuals. During the year ending December 31, 2015, the Company reimbursed $138,025, to a partnership controlled by the Chief Executive Officer for business-related air travel pursuant to the Company’s travel reimbursement policy. There were no reimbursements during the year ended December 31, 2014.

Retirement Plan

Retirement Plan	12 Months Ended
	Dec. 31, 2015
Compensation And Retirement Disclosure [Abstract]
Retirement Plan	10. Retirement Plans We began a 401(k) plan for qualified employees on April 1, 2006. The plan is subject to “safe harbor” provisions which require that we match 100.0% of the first 3.0% of employee contributions and 50.0% of the next 2.0% of employee contributions. All employer matching funds vest immediately in accordance with the “safe harbor” provisions. Contributions to the plan for the years ended December 31, 2015, 2014, and 2013 were $40,768, $40,586 and $47,094, respectively.

Unconsolidated Joint Venture

Unconsolidated Joint Venture	12 Months Ended
	Dec. 31, 2015
Unconsolidated Joint Venture [Member]
Schedule Of Equity Method Investments [Line Items]
Unconsolidated Joint Venture	11. Unconsolidated Joint Venture As of December 31, 2015 we own 100% of the Crowne Plaza Hollywood Beach Resort. However through July 31, 2015 we owned only a 25.0% indirect interest in (i) the entity that owns the Crowne Plaza Hollywood Beach Resort and (ii) the entity that leases the hotel and has engaged Chesapeake Hospitality to operate the hotel under a management contract. Carlyle owned a 75.0% indirect controlling interest in these entities through July 31, 2015. The joint venture purchased the property on August 8, 2007 and began operations on September 18, 2007. Summarized financial information for this investment through July 31, 2015, which is accounted for under the equity method, is as follows: December 31, 2014 ASSETS Investment in hotel property, net $ 62,823,142 Cash and cash equivalents 2,153,906 Restricted cash 874,111 Accounts receivable 328,755 Prepaid expenses, inventory and other assets 1,489,479 TOTAL ASSETS $ 67,669,393 LIABILITIES Mortgage loan, net $ 57,000,000 Accounts payable and other accrued liabilities 2,195,613 Accounts payable and other accrued liabilities, member 146,836 Advance deposits 398,695 TOTAL LIABILITIES 59,741,144 TOTAL MEMBERS’ EQUITY 7,928,249 TOTAL LIABILITIES AND MEMBERS’ EQUITY $ 67,669,393 Seven Months Ended Year Ended July 31, 2015 December 31, 2014 Revenue Rooms department $ 10,605,941 $ 15,386,595 Food and beverage department 1,911,950 2,968,395 Other operating departments 880,564 1,385,469 Total revenue 13,398,455 19,740,459 Expenses Hotel operating expenses Rooms department 2,062,515 3,270,930 Food and beverage department 1,442,139 2,270,918 Other operating departments 388,087 655,818 Indirect 4,774,322 7,436,198 Total hotel operating expenses 8,667,063 13,633,864 Depreciation and amortization 1,060,339 2,116,211 General and administrative 252,565 148,873 Total operating expenses 9,979,967 15,898,948 Operating income 3,418,488 3,841,511 Interest expense (1,516,433 ) (2,612,032 ) Net (loss) income $ 1,902,055 $ 1,229,479

Indirect Hotel Operating Expens

Indirect Hotel Operating Expenses	12 Months Ended
	Dec. 31, 2015
Other Income And Expenses [Abstract]
Indirect Hotel Operating Expenses	12. Indirect Hotel Operating Expenses Indirect hotel operating expenses consists of the following expenses incurred by the hotels: 2015 2014 2013 General and administrative $ 11,595,819 $ 9,823,853 $ 7,258,817 Sales and marketing $ 11,426,637 9,788,079 7,497,693 Repairs and maintenance $ 6,948,699 6,278,411 4,705,222 Utilities $ 6,124,458 5,763,990 4,301,755 Franchise fees $ 4,016,083 4,122,726 3,098,379 Management fees, including incentive $ 3,490,586 3,439,807 2,719,573 Property taxes $ 5,110,659 3,664,022 2,480,909 Insurance $ 2,305,967 1,927,935 1,447,485 Other $ 291,383 263,668 248,063 Total indirect hotel operating expenses $ 51,310,292 $ 45,072,491 $ 33,757,896

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Income Taxes	13. Income Taxes The components of the provision for (benefit from) income taxes for the years ended December 31, 2015, 2014, and 2013 are as follows: Year Ended Year Ended Year Ended December 31, 2015 December 31, 2014 December 31, 2013 Current: Federal $ - $ - $ 68,431 State 444,538 233,940 57,476 444,538 233,940 125,907 Deferred: Federal (1,510,726 ) (1,718,351 ) 1,078,543 State (269,845 ) (243,312 ) 291,646 (1,780,571 ) (1,961,663 ) 1,370,189 $ (1,336,033 ) $ (1,727,723 ) $ 1,496,096 A reconciliation of the statutory federal income tax provision (benefit) to the Company’s provision for (benefit from) income tax is as follows: Year Ended Year Ended Year Ended December 31, 2015 December 31, 2014 December 31, 2013 Statutory federal income tax expense $ 1,705,610 $ (838,519 ) $ (1,012,349 ) Effect of non-taxable REIT income (2,866,950 ) (898,576 ) 2,159,323 State income tax benefit (174,693 ) 9,372 349,122 $ (1,336,033 ) $ (1,727,723 ) $ 1,496,096 As of December 31, 2015 and 2014, we had a net deferred tax asset of approximately $5.4 million and $3.5 million, respectively, of which, approximately $4.5 million and $2.7 million, respectively, are due to accumulated net operating losses. These loss carryforwards will begin to expire in 2028 if not utilized. As of December 31, 2015 and 2014, approximately $0.2 million and $0.2 million, respectively, of the deferred tax asset is attributable to our share of start-up expenses related to the Crowne Plaza Hollywood Beach Resort and start-up expenses related to the opening of the Sheraton Louisville Riverside and the Crowne Plaza Tampa Westshore, all of which were not deductible when incurred and are now being amortized over 15 years. The remainder of the deferred tax asset is attributable to year-to-year timing differences for accrued, but not deductible, employee performance awards, vacation and sick pay, bad debt allowance and depreciation. We believe that it is more likely than not that the deferred tax asset will be realized and that no valuation allowance is required.

Income (Loss) Per Share and Per

Income (Loss) Per Share and Per Unit	12 Months Ended
	Dec. 31, 2015
Earnings Per Share [Abstract]
Income (Loss) Per Share and Per Unit	14. Income (Loss) per Share and per Unit Income (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 income (loss). The effect of the allocation of net loss attributable to the limited partners’ interests by the issuance of dilutive shares has been excluded, since there would be an anti-dilutive effect from the pro forma dilution of the Essex Warrant discussed in Note 6 issued in April 2011. The computation of basic and diluted income (loss) per share is presented below. Year Ended Year Ended Year Ended December 31, 2015 December 31, 2014 December 31, 2013 Numerator Net income (loss) attributable to the Company for basic computation $ 5,356,666 $ (584,671 ) $ (3,483,969 ) Denominator Weighted average number of common shares outstanding for basic computation 12,541,117 10,377,125 10,156,955 Basic and diluted net income (loss) per share $ 0.43 $ (0.06 ) $ (0.34 ) Income (Loss) Per Unit . The computation of basic and diluted income (loss) per unit is presented below. Year Ended Year Ended Year Ended December 31, 2015 December 31, 2014 December 31, 2013 Numerator Net income (loss) $ 6,397,653 $ (738,509 ) $ (4,473,592 ) Denominator Weighted average number of units outstanding 14,924,410 13,107,413 13,042,020 Basic and diluted net income (loss) per unit $ 0.43 $ (0.06 ) $ (0.34 )

Quarterly Operating Results (Un

Quarterly Operating Results (Unaudited)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Quarterly Operating Results (Unaudited)	15. Quarterly Operating Results (Unaudited) Quarters Ended 2015 March 31 June 30 September 30 December 31 Total revenue $ 30,975,630 $ 36,865,108 $ 33,941,875 $ 36,750,863 Total operating expenses 27,410,462 29,689,455 31,976,036 $ 34,127,473 Net operating income (loss) 3,565,168 7,175,653 1,965,839 2,623,390 Net income (loss) 713,859 1,759,109 4,636,644 (711,959 ) Net income (loss) attributable to the Company 575,336 1,431,110 3,872,394 (522,174 ) Earnings (loss) per share – basic and diluted $ 0.05 0.13 0.27 (0.04 ) Quarters Ended 2014 March 31 June 30 September 30 December 31 Total revenue $ 25,010,389 $ 36,339,701 $ 31,764,453 $ 29,825,377 Total operating expenses 22,249,394 29,120,620 28,622,841 30,441,730 Net operating income (loss) 2,760,995 7,219,081 3,141,612 (616,353 ) Net income (loss) 1,002,314 2,752,555 (280,014 ) (4,213,362 ) Net income (loss) attributable to the Company 783,002 2,166,689 (214,902 ) (3,319,460 ) Earnings (loss) per share – basic and diluted 0.08 0.21 (0.02 ) (0.31 )

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2015
Subsequent Events [Abstract]
Subsequent Events	16. Subsequent Events On January 11, 2016, we paid a quarterly dividend (distribution) of $0.08 per common share (and unit) to those stockholders (and unitholders of the Operating Partnership) of record on December 31, 2015. On January 1, 2016, we entered into a new employment agreement, effective as of January 1, 2016, between the Company and David R. Folsom, to serve as President and Chief Operating Officer of the Company. On January 25, 2016, we authorized payment of a quarterly dividend (distribution) of $0.085 per common share (and unit) to the stockholders (and unitholders of the Operating Partnership) of record as of March 15, 2016. The dividend (distribution) is to be paid on April 11, 2016. On February 1, 2016, two holders of units in the Operating Partnership redeemed 422,687 units for an equivalent number of shares of the Company’s common stock.

Schedule III - Real Estate and

Schedule III - Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2015
Real Estate And Accumulated Depreciation Disclosure [Abstract]
Schedule III - Real Estate and Accumulated Depreciation	SOTHERLY HOTELS INC. SOTHERLY HOTELS LP SCHEDULE III—REAL ESTATE AND ACCUMULATED DEPRECIATION AS OF DECEMBER 31, 2015 (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 Crowne Plaza Hampton Marina – Hampton, Virginia $ 3,513 $ 1,061 $ 6,733 $ 36 3,726 $ 1,097 $ 10,459 $ 11,556 $ (6,751 ) 1988 2008 3-39 years Crowne Plaza Hollywood Beach Resort - Hollywood Beach, Florida 59,796 24,008 67,660 - (2,762 ) 24,008 64,898 88,906 (745 ) 1972 2015 3-39 years Crowne Plaza Houston Downtown – Houston, Texas 20,459 7,374 22,185 44 3,249 7,418 25,434 32,852 (1,522 ) 1963 2013 3-39 years Crowne Plaza Tampa Westshore – Tampa, Florida 13,016 4,153 9,670 283 22,188 4,436 31,858 36,294 (7,215 ) 1973 2007 3-39 years DoubleTree by Hilton Jacksonville Riverfront – Jacksonville, Florida 19,775 7,090 14,604 73 6,990 7,163 21,594 28,757 (5,005 ) 1970 2005 3-39 years DoubleTree by Hilton Laurel – Laurel, Maryland 9,500 900 9,443 175 5,120 1,075 14,563 15,638 (3,430 ) 1985 2004 3-39 years DoubleTree by Hilton Philadelphia Airport – Philadelphia, Pennsylvania 32,376 2,100 22,031 190 5,443 2,290 27,474 29,764 (7,580 ) 1972 2004 3-39 years DoubleTree by Hilton Raleigh Brownstone – University – Raleigh, North Carolina 15,029 815 7,416 203 5,436 1,018 12,852 13,870 (4,422 ) 1971 2004 3-39 years Georgian Terrace – Atlanta, Georgia 46,579 10,128 45,386 (1,336 ) 3,612 8,792 48,998 57,790 (2,241 ) 1911 2014 3-39 years Hilton Savannah DeSoto – Savannah, Georgia 20,523 600 13,562 14 11,732 614 25,294 25,908 (7,850 ) 1968 2004 3-39 years Hilton Wilmington Riverside – Wilmington, North Carolina 19,826 785 16,829 222 11,984 1,007 28,813 29,820 (10,568 ) 1970 2004 3-39 years Sheraton Louisville Riverside – Jeffersonville, Indiana 11,346 782 6,891 210 14,592 992 21,483 22,475 (4,712 ) 1972 2006 3-39 years $ 271,738 $ 59,796 $ 242,410 $ 114 $ 91,310 $ 59,910 $ 333,720 $ 393,630 $ (62,041 ) (1) For the year ending December 31, 2015, the aggregate cost of our real estate assets for federal income tax purposes was approximately $391.1 million. RECONCILIATION OF REAL ESTATE AND ACCUMULATED DEPRECIATION RECONCILIATION OF REAL ESTATE Balance at December 31, 2013 $ 233,060 Acquisitions 55,514 Improvements 6,430 Disposal of Assets (177 ) Balance at December 31, 2014 $ 294,827 Acquisitions 91,669 Improvements 11,105 Disposal of Assets (3,971 ) Balance at December 31, 2015 $ 393,630 RECONCILIATION OF ACCUMULATED DEPRECIATION Balance at December 31, 2013 $ 42,557 Current Expense 7,602 Impairment 3,175 Disposal of Assets (101 ) Balance at December 31, 2014 $ 53,233 Current Expense 8,790 Impairment 500 Disposal of Assets (482 ) Balance at December 31, 2015 $ 62,041 F-1

Summary of Significant Accoun25

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation – The consolidated financial statements of the Company presented herein include all of the accounts of Sotherly Hotels Inc., the Operating Partnership, MHI TRS and subsidiaries and have been prepared using accounting standards generally accepted in the United States of America (“GAAP”). All significant inter-company balances and transactions have been eliminated. The consolidated financial statements of the Operating Partnership presented herein include all of the accounts of Sotherly Hotels LP, MHI TRS and subsidiaries. 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.
Investment in Hotel Properties	Investment in Hotel Properties – Investments in hotel properties include investments in operating properties which are recorded at fair value 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. We review our investments in hotel properties for impairment 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. Our review of possible impairment at one of our hotel properties and a re-evaluation of future revenues based on anticipated market conditions, market penetration and costs necessary to achieve such market penetration revealed an excess of current carrying cost over the estimated undiscounted future cash flows and current fair values during the periods ending December 31, 2015 and 2013, resulting in impairments of approximately $0.5 and $0.6 million, as of December 31, 2015 and 2013, respectively. Our review of possible impairment at the same hotel property for 2014, which was triggered by a combination of a change in anticipated use and future branding of the property; and a re-evaluation of future revenues based on anticipated market conditions, market penetration, costs necessary to achieve such market penetration and the then current fair value, resulted in an impairment of approximately $3.2 million, as of December 31, 2014.
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.
Investment in Joint Venture	Investment in Joint Venture – Investment in joint venture represents our noncontrolling indirect 25.0% equity interest, through July 30, 2015, in (i) the entity that owns the Crowne Plaza Hollywood Beach Resort and (ii) the entity that leases the hotel and has engaged Chesapeake Hospitality to operate the hotel under a management contract. Carlyle owned a 75.0% controlling indirect interest in these entities during this period. We accounted for our investment in the joint venture under the equity method of accounting and were entitled to receive our pro rata share of annual cash flow. We also had the opportunity to earn an incentive participation in the net sale proceeds based upon the achievement of certain overall investment returns, in addition to our pro rata share of net sale proceeds. On July 31, 2015, we acquired the remaining 75.0% interest in (i) the entity that owns the Crowne Plaza Hollywood Beach Resort, and (ii) the entity that leases the Crowne Plaza Hollywood Beach Resort. As a result, the Operating Partnership now has a 100% indirect ownership interest in the entities that own the Crowne Plaza Hollywood Beach Resort and consolidates the financial results of operations within the financial statements from August 1, 2015 through December 31, 2015.
Cash and Cash Equivalents	Cash and Cash Equivalents – We 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 – We hold 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 reviews, on a regular basis, the balances 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 and banqueting 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 market, 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, 2015 and 2014 were approximately $339,542 and $394,139, respectively. Amortization expense for the years ended December 31, 2015, 2014, and 2013 was $124,632, $50,908 and $49,658, respectively.
Deferred Financing and Offering Costs	Deferred Financing and Offering Costs – Deferred financing costs are recorded at cost and consist of loan fees and other costs incurred in issuing debt. Deferred offering costs are recorded at cost and consist of offering fees and other costs incurred in 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. Deferred offering costs are offset against the equity funds raised in the future and included in additional paid in capital on the consolidated balance sheets when the equity offering is complete. When there is a shelf registration the offset may occur when the registration expires or when the funds are raised, and if the offering expires and the offering costs exceed the funds raised in the offering then the excess will be included in corporate general and administrative expenses in the consolidated statements of operations.
Derivative Instruments	Derivative Instruments – Our derivative instruments are reflected as assets or liabilities on the 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 primarily used an interest-rate swap, which was required under our then-existing credit agreement and acted as a cash flow hedge involving the receipts of variable-rate amounts from a counterparty in exchange for our making fixed-rate payments without exchange of the underlying principal amount. We valued our 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 also use derivative instruments in the Company’s stock to obtain more favorable terms on our financing. 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 mortgage loans and unsecured notes measured at fair value and the basis for that measurement: Level 1 Level 2 Level 3 December 31, 2014 Investment in hotel property, net (1) $ — $ — $ 6,396,787 Mortgage loans (2) $ — $ (209,994,659 ) $ — Unsecured notes (3) $ (53,816,320 ) $ — $ — December 31, 2015 Investment in hotel property, net (1) $ — $ — $ 5,700,762 Interest Rate Cap (4) $ — $ 70,981 $ — Mortgage loans (2) $ — $ (272,933,327 ) $ — Unsecured notes (3) $ (54,238,600 ) $ — $ — (1) A non-recurring fair value measurement was conducted in both 2014 and 2015 for our investment in hotel property, which resulted in impairment charges for the years ended December 31, 2015 and 2014, which represent the amounts by which the carrying value of the asset group exceeded its fair value. (2) Mortgage loans are reflected at carrying value on our Consolidated Balance Sheet as of December 31, 2015 and December 31, 2014. (3) Unsecured notes are recorded at historical cost on our Consolidated Balance Sheet as of December 31, 2015 and December 31, 2014. (4) An interest rate cap on the DoubleTree by Hilton Jacksonville Riverfront mortgage with the Bank of the Ozarks.
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 – Revenues from operations of the hotels are recognized when the services are provided. Revenues consist of room sales, food and beverage sales, and other hotel department revenues, such as telephone, parking, gift shop sales and rentals from restaurant tenants, rooftop leases and gift shop operators. Revenues are reported net of occupancy and other taxes collected from customers and remitted to governmental authorities.
Lease Revenue	Lease Revenue – Several of our properties generate revenue from leasing commercial space adjacent to the hotel, the restaurant space within the hotel, 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 statement of consolidated operations pursuant to the terms of each lease. Lease revenue was $ 1,776,518, $1,657,614 and $1,734,944, for the years ended December 31, 2015, 2014, and 2013, respectively. A schedule of minimum future lease payments receivable for the following twelve-month periods is as follows: December 31, 2016 $ 1,336,016 December 31, 2017 $ 863,350 December 31, 2018 $ 352,384 December 31, 2019 $ 233,286 December 31, 2020 $ 188,158 December 31, 2021 and thereafter $ 539,063 Total $ 3,512,257
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. MHI TRS, our wholly owned taxable REIT subsidiary which leases our hotels from subsidiaries of the Operating Partnership, is 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. As of December 31, 2015, 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, 2015, the tax years that remain subject to examination by the major tax jurisdictions to which the Company is subject generally include 2010 through 2015. In addition, as of December 31, 2015, the tax years that remain subject to examination by the major tax jurisdictions to which MHI TRS is subject generally include 2004 through 2014. 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 2004 Long Term Incentive Plan (the “2004 Plan”) and its 2013 Long-Term Incentive Plan (the “2013 Plan”), which the Company’s stockholders approved in April 2013, permit the grant of stock options, restricted stock and performance share compensation awards to its employees for up to 350,000 and 750,000 shares of common stock, respectively. The Company believes that such awards better align the interests of its employees with those of its stockholders. Under the 2004 Plan, the Company has made restricted stock and deferred stock awards totaling 337,438 shares including 255,938 shares issued to certain executives and employees and 81,500 restricted shares issued to its independent directors. Of the 255,938 shares issued to certain of our executives and employees, all have vested except 18,000 shares issued to the Chief Financial Officer upon execution of his employment contract which will vest pro rata on each of the next three anniversaries of the effective date of his employment agreement. All of the 81,500 restricted shares issued to the Company’s independent directors have vested. The 2004 plan was terminated in 2013. Under the 2013 Plan, the Company has made stock awards totaling 109,100 shares, including 74,600 non-restricted shares to certain executives, directors and employees, and 34,500 restricted shares issued to its independent directors. All awards have vested except for 12,000 shares issued to the Company’s independent directors in January 2016. Previously, under the 2004 Plan, and currently, under the 2013 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, 2015, 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. Total compensation cost recognized under the 2004 Plan and 2013 Plan for the years ended December 31, 2015, 2014, and 2013 was $285,978, $245,565 and $323,800, respectively. The 2004 Plan was terminated in April 2013.
Advertising	Advertising – Advertising costs were $ 280,625, $198,991 and $181,886 for the years ended December 31, 2015, 2014, and 2013, respectively and are expensed as incurred.
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. We do not have any items of comprehensive income (loss) other than net income (loss).
Segment Information	Segment Information – We have 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 April 2015, the FASB issued Accounting Standards Update (“ASU”) 2015-03 related to “Simplifying the Presentation of Debt Issuance Costs,” as part of its simplification initiative. The ASU changes the presentation of debt issuance costs in financial statements. Under the ASU, an entity presents such costs in the balance sheet as a direct deduction from the related debt liability rather than as an asset. Amortization of the costs is reported as interest expense. The ASU specifies that “issue costs shall be reported in the balance sheet as a direct deduction from the face amount of the note” and that “amortization of debt issue costs shall also be reported as interest expense.” According to the ASU’s Basis for Conclusions, debt issuance costs incurred before the associated funding is received (i.e., the debt liability) should be reported on the balance sheet as deferred charges until that debt liability amount is recorded. For public business entities, the guidance in the ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015 and is applicable for our interim periods within 2016. Early adoption is allowed for all entities for financial statements that have not been previously issued. Entities would apply the new guidance retrospectively to all prior periods (i.e., the balance sheet for each period is adjusted). We do expect this ASU to have a material impact on the Company’s consolidated financial position and cash flows and will be applied during our 2016 reporting. In February 2015, the FASB issued Accounting Standards Update (“ASU”) 2015-02 related to ASC Topic 810, Consolidation. In May 2014, the FASB issued Accounting Standards Update (“ASU”) 2014-09 related to ASC Topic 606, Revenue from Contracts with Customers. Revenue Recognition Revenue Recognition—Construction-Type and Production-Type Contracts Property, Plant, and Equipment Intangibles—Goodwill and Other As issued, this ASU is not effective until annual reporting periods beginning after December 15, 2016, however the FASB has deferred the effective date of ASU 2014-09 such that it would be effective for annual reporting periods beginning after December 15, 2017.

Summary of Significant Accoun26

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Derivative Instruments and Mortgage Debt Measured at Fair Value	The following table represents our mortgage loans and unsecured notes measured at fair value and the basis for that measurement: Level 1 Level 2 Level 3 December 31, 2014 Investment in hotel property, net (1) $ — $ — $ 6,396,787 Mortgage loans (2) $ — $ (209,994,659 ) $ — Unsecured notes (3) $ (53,816,320 ) $ — $ — December 31, 2015 Investment in hotel property, net (1) $ — $ — $ 5,700,762 Interest Rate Cap (4) $ — $ 70,981 $ — Mortgage loans (2) $ — $ (272,933,327 ) $ — Unsecured notes (3) $ (54,238,600 ) $ — $ — (1) A non-recurring fair value measurement was conducted in both 2014 and 2015 for our investment in hotel property, which resulted in impairment charges for the years ended December 31, 2015 and 2014, which represent the amounts by which the carrying value of the asset group exceeded its fair value. (2) Mortgage loans are reflected at carrying value on our Consolidated Balance Sheet as of December 31, 2015 and December 31, 2014. (3) Unsecured notes are recorded at historical cost on our Consolidated Balance Sheet as of December 31, 2015 and December 31, 2014. (4) An interest rate cap on the DoubleTree by Hilton Jacksonville Riverfront mortgage with the Bank of the Ozarks.
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, 2016 $ 1,336,016 December 31, 2017 $ 863,350 December 31, 2018 $ 352,384 December 31, 2019 $ 233,286 December 31, 2020 $ 188,158 December 31, 2021 and thereafter $ 539,063 Total $ 3,512,257

Acquisition of Hotel Properti27

Acquisition of Hotel Properties (Tables)	12 Months Ended
	Dec. 31, 2015
Business Combinations [Abstract]
Allocation of Purchase Price Based on Fair Values	The allocation of the purchase price based on their fair values was as follows: Georgian Terrace Crowne Land and land improvements $ 10,127,687 $ 24,008,289 Buildings and improvements 45,385,939 64,854,787 Furniture, fixtures and equipment 5,163,135 2,802,135 Investment in hotel properties 60,676,761 91,665,211 Restricted cash 124,658 1,159,759 Accounts receivable 465,287 140,588 Prepaid expenses, inventory and other assets 430,997 797,505 Assumed mortgage — (57,259,159 ) Accounts payable and accrued liabilities (591,618 ) (2,517,380 ) Equity investment — (1,857,622 ) Gain on change in control — (6,603,148 ) Net cash $ 61,106,085 $ 25,525,754
Pro Forma Results Prepared for Comparative Purposes	The pro forma results have been prepared for comparative purposes only and do not purport to be indicative of the results of operations which would have actually occurred had the transaction taken place on January 1, 2014, or of future results of operations: December 31, 2015 December 31, 2014 (unaudited) (unaudited) Pro forma revenues $ 151,931,931 $ 147,451,042 Pro forma operating expenses $ 133,346,497 $ 129,961,867 Pro forma operating income $ 18,585,434 $ 17,489,175 Pro forma net income (loss) $ 1,017,180 $ (1,671,774 ) Pro forma earnings (loss) per basic and diluted share $ 0.07 $ (0.10 ) Pro forma earnings (loss) per basic and diluted units $ 0.07 $ (0.10 ) Pro forma basic and diluted common shares 12,541,117 13,812,125 Pro forma basic and diluted units 14,924,410 16,542,413

Investment in Hotel Properties

Investment in Hotel Properties (Tables)	12 Months Ended
	Dec. 31, 2015
Real Estate [Abstract]
Schedule of Hotel Properties	Investment in hotel properties as of December 31, 2015 and 2014 consisted of the following: December 31, 2015 December 31, 2014 Land and land improvements $ 59,910,212 $ 37,483,400 Buildings and improvements 333,720,421 257,343,516 Furniture, fixtures and equipment 42,245,334 38,762,997 435,875,967 333,589,913 Less: accumulated depreciation and impairment (80,912,725 ) (73,397,760 ) $ 354,963,242 $ 260,192,153

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2015
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 2015 2014 Penalties Date Provisions Rate Crowne Plaza Hampton Marina $ 3,512,586 $ 4,509,500 None 6/30/2016 $ 83,000 (1) 5.00% (2) Crowne Plaza Hollywood Beach Resort 59,795,743 — N/A (3) 10/1/2025 30 years 4.913% Crowne Plaza Houston Downtown 20,459,256 20,954,867 None 11/13/2017 (4) 25 years 4.50% Crowne Plaza Tampa Westshore 13,016,045 13,317,684 None 6/18/2017 25 years 5.60% DoubleTree by Hilton Jacksonville Riverfront 19,774,577 16,358,706 Yes (5) 7/7/2019 (6) 25 years LIBOR plus 3.50 % DoubleTree by Hilton Laurel 9,500,000 6,974,458 Yes (7) 8/5/2021 25 years 5.25% (8) DoubleTree by Hilton Philadelphia Airport 32,376,795 33,378,102 None 4/1/2019 25 years LIBOR plus 3.00 % (9) DoubleTree by Hilton Raleigh Brownstone –University 15,029,121 15,274,284 N/A (10) 8/1/2018 30 years 4.78% Georgian Terrace 46,579,011 41,500,000 N/A (11) 6/1/2025 30 years 4.42% Hilton Savannah DeSoto 20,522,836 21,050,093 Yes (12) 9/1/2017 25 years 6.06% Hilton Wilmington Riverside 19,825,772 20,389,325 Yes (12) 4/1/2017 25 years 6.21% Sheraton Louisville Riverside 11,345,866 11,584,638 N/A (10) 1/6/2017 25 years 6.24% Total Mortgage Principal Balance $ 271,737,608 $ 205,291,657 Unamortized premium on loan 240,336 - Total Mortgage Loans $ 271,977,944 $ 205,291,657 (1) The Operating Partnership is required to make monthly principal payments of $83,000. (2) The note rate was changed to a fixed rate of 5.00%, effective June 27, 2014. (3 ) With limited exception, the note may not be prepaid until June 2025. (4) The note was extended in March 2016 and provides that the mortgage can be extended until November 2018 if certain conditions have been satisfied. (5) The note is subject to a pre-payment penalty until July 2017. Prepayment can be made without penalty thereafter. (6 ) The note provides that the mortgage can be extended until July 2020 if certain conditions have been satisfied. (7 ) The note is subject to a pre-payment penalty except for any pre-payments made either between April 2017 and August 2017, or from April 2021 through maturity of the note. (8) The note provides that after five years, the rate of interest will adjust to a rate of 3.00% per annum plus the then-current five-year U.S. Treasury rate of interest, with a floor of 5.25%. (9 ) The note bears a minimum interest rate of 3.50%. (10 ) With limited exception, the note may not be prepaid until two months before maturity. (11 ) With limited exception, the note may not be prepaid until February 2025. (12 ) The notes may not be prepaid during the first six years of the terms. Prepayment can be made with penalty thereafter until 90 days before maturity.
Schedule of Future Mortgage Debt Maturities	Total future mortgage debt maturities, without respect to any extension of loan maturity, as of December 31, 2015 were as follows: December 31, 2016 $ 9,364,807 December 31, 2017 86,711,703 December 31, 2018 18,184,906 December 31, 2019 49,559,118 December 31, 2020 2,237,443 December 31, 2021 and thereafter 105,679,631 Total future maturities $ 271,737,608

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2015
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, 2016 $ 337,386 December 31, 2017 256,211 December 31, 2018 188,070 December 31, 2019 121,196 December 31, 2020 95,482 December 31, 2021 and thereafter 541,065 Total $ 1,539,410

Equity (Tables)

Equity (Tables)	12 Months Ended
	Dec. 31, 2015
Equity [Abstract]
Quarterly Distributions Declared and Payable by Operating Partnership	Distributions – The following table presents the quarterly distributions by the Operating Partnership declared and payable per unit for the years ended December 31, 2015, 2014, and 2013: Quarter Ended 2013 2014 2015 March 31, $ 0.035 $ 0.045 0.070 June 30, $ 0.035 $ 0.050 0.075 September 30, $ 0.040 $ 0.065 0.080 December 31, $ 0.045 $ 0.065 0.080

Unconsolidated Joint Venture (T

Unconsolidated Joint Venture (Tables)	12 Months Ended
	Dec. 31, 2015
Equity Method Investments And Joint Ventures [Abstract]
Summarized Financial Information of Investment	Summarized financial information for this investment through July 31, 2015, which is accounted for under the equity method, is as follows: December 31, 2014 ASSETS Investment in hotel property, net $ 62,823,142 Cash and cash equivalents 2,153,906 Restricted cash 874,111 Accounts receivable 328,755 Prepaid expenses, inventory and other assets 1,489,479 TOTAL ASSETS $ 67,669,393 LIABILITIES Mortgage loan, net $ 57,000,000 Accounts payable and other accrued liabilities 2,195,613 Accounts payable and other accrued liabilities, member 146,836 Advance deposits 398,695 TOTAL LIABILITIES 59,741,144 TOTAL MEMBERS’ EQUITY 7,928,249 TOTAL LIABILITIES AND MEMBERS’ EQUITY $ 67,669,393 Seven Months Ended Year Ended July 31, 2015 December 31, 2014 Revenue Rooms department $ 10,605,941 $ 15,386,595 Food and beverage department 1,911,950 2,968,395 Other operating departments 880,564 1,385,469 Total revenue 13,398,455 19,740,459 Expenses Hotel operating expenses Rooms department 2,062,515 3,270,930 Food and beverage department 1,442,139 2,270,918 Other operating departments 388,087 655,818 Indirect 4,774,322 7,436,198 Total hotel operating expenses 8,667,063 13,633,864 Depreciation and amortization 1,060,339 2,116,211 General and administrative 252,565 148,873 Total operating expenses 9,979,967 15,898,948 Operating income 3,418,488 3,841,511 Interest expense (1,516,433 ) (2,612,032 ) Net (loss) income $ 1,902,055 $ 1,229,479

Indirect Hotel Operating Expe33

Indirect Hotel Operating Expenses (Tables)	12 Months Ended
	Dec. 31, 2015
Other Income And Expenses [Abstract]
Summary of Indirect Hotel Operating Expenses	Indirect hotel operating expenses consists of the following expenses incurred by the hotels: 2015 2014 2013 General and administrative $ 11,595,819 $ 9,823,853 $ 7,258,817 Sales and marketing $ 11,426,637 9,788,079 7,497,693 Repairs and maintenance $ 6,948,699 6,278,411 4,705,222 Utilities $ 6,124,458 5,763,990 4,301,755 Franchise fees $ 4,016,083 4,122,726 3,098,379 Management fees, including incentive $ 3,490,586 3,439,807 2,719,573 Property taxes $ 5,110,659 3,664,022 2,480,909 Insurance $ 2,305,967 1,927,935 1,447,485 Other $ 291,383 263,668 248,063 Total indirect hotel operating expenses $ 51,310,292 $ 45,072,491 $ 33,757,896

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Components of Provision for (Benefit from) Income Taxes	The components of the provision for (benefit from) income taxes for the years ended December 31, 2015, 2014, and 2013 are as follows: Year Ended Year Ended Year Ended December 31, 2015 December 31, 2014 December 31, 2013 Current: Federal $ - $ - $ 68,431 State 444,538 233,940 57,476 444,538 233,940 125,907 Deferred: Federal (1,510,726 ) (1,718,351 ) 1,078,543 State (269,845 ) (243,312 ) 291,646 (1,780,571 ) (1,961,663 ) 1,370,189 $ (1,336,033 ) $ (1,727,723 ) $ 1,496,096
Reconciliation of Statutory Federal Income Tax Provision (Benefit)	A reconciliation of the statutory federal income tax provision (benefit) to the Company’s provision for (benefit from) income tax is as follows: Year Ended Year Ended Year Ended December 31, 2015 December 31, 2014 December 31, 2013 Statutory federal income tax expense $ 1,705,610 $ (838,519 ) $ (1,012,349 ) Effect of non-taxable REIT income (2,866,950 ) (898,576 ) 2,159,323 State income tax benefit (174,693 ) 9,372 349,122 $ (1,336,033 ) $ (1,727,723 ) $ 1,496,096

Income (Loss) Per Share and P35

Income (Loss) Per Share and Per Unit (Tables)	12 Months Ended
	Dec. 31, 2015
Earnings Per Share [Abstract]
Computation of Basic and Diluted Income (Loss) Per Share	The computation of basic and diluted income (loss) per share is presented below. Year Ended Year Ended Year Ended December 31, 2015 December 31, 2014 December 31, 2013 Numerator Net income (loss) attributable to the Company for basic computation $ 5,356,666 $ (584,671 ) $ (3,483,969 ) Denominator Weighted average number of common shares outstanding for basic computation 12,541,117 10,377,125 10,156,955 Basic and diluted net income (loss) per share $ 0.43 $ (0.06 ) $ (0.34 )
Computation of Basic and Diluted Income (Loss) Per Unit	Income (Loss) Per Unit . The computation of basic and diluted income (loss) per unit is presented below. Year Ended Year Ended Year Ended December 31, 2015 December 31, 2014 December 31, 2013 Numerator Net income (loss) $ 6,397,653 $ (738,509 ) $ (4,473,592 ) Denominator Weighted average number of units outstanding 14,924,410 13,107,413 13,042,020 Basic and diluted net income (loss) per unit $ 0.43 $ (0.06 ) $ (0.34 )

Quarterly Operating Results (36

Quarterly Operating Results (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Quarterly Operating Results	Quarters Ended 2015 March 31 June 30 September 30 December 31 Total revenue $ 30,975,630 $ 36,865,108 $ 33,941,875 $ 36,750,863 Total operating expenses 27,410,462 29,689,455 31,976,036 $ 34,127,473 Net operating income (loss) 3,565,168 7,175,653 1,965,839 2,623,390 Net income (loss) 713,859 1,759,109 4,636,644 (711,959 ) Net income (loss) attributable to the Company 575,336 1,431,110 3,872,394 (522,174 ) Earnings (loss) per share – basic and diluted $ 0.05 0.13 0.27 (0.04 ) Quarters Ended 2014 March 31 June 30 September 30 December 31 Total revenue $ 25,010,389 $ 36,339,701 $ 31,764,453 $ 29,825,377 Total operating expenses 22,249,394 29,120,620 28,622,841 30,441,730 Net operating income (loss) 2,760,995 7,219,081 3,141,612 (616,353 ) Net income (loss) 1,002,314 2,752,555 (280,014 ) (4,213,362 ) Net income (loss) attributable to the Company 783,002 2,166,689 (214,902 ) (3,319,460 ) Earnings (loss) per share – basic and diluted 0.08 0.21 (0.02 ) (0.31 )

Organization and Description 37

Organization and Description of Business - Additional Information (Detail)

Feb. 01, 2016shares

Jan. 04, 2016USD ($)

Oct. 20, 2015USD ($)

Sep. 28, 2015USD ($)

Sep. 02, 2015USD ($)a

Jul. 17, 2015USD ($)shares

Jul. 07, 2015USD ($)mortgage

Jul. 02, 2015USD ($)

May. 05, 2015USD ($)

Dec. 19, 2014USD ($)

Nov. 24, 2014USD ($)

Nov. 21, 2014USD ($)

Nov. 01, 2014shares

Jun. 27, 2014USD ($)

Mar. 31, 2014USD ($)

Mar. 27, 2014USD ($)aRoomParkingSpaces

Dec. 27, 2013USD ($)

Dec. 23, 2013USD ($)shares

Oct. 23, 2013USD ($)shares

Sep. 30, 2013USD ($)

Aug. 01, 2013USD ($)shares

Jun. 28, 2013USD ($)

Apr. 01, 2013shares

Mar. 26, 2013USD ($)shares

Mar. 22, 2013USD ($)

Jun. 18, 2012USD ($)shares

Jun. 30, 2015USD ($)shares

Sep. 30, 2014USD ($)

Aug. 31, 2014USD ($)

Dec. 31, 2015USD ($)HotelRoomshares

Dec. 31, 2014USD ($)shares

Dec. 31, 2013USD ($)

Jul. 31, 2015

Jul. 30, 2015

Jul. 01, 2015shares

Mar. 26, 2014USD ($)

Nov. 13, 2013USD ($)shares

Jun. 15, 2012USD ($)shares

Apr. 18, 2011shares

Organization Consolidation and Presentation of Financial Statements [Line Items]

Date of incorporation

Aug. 20, 2004

Investment in number of hotels | Hotel

12

Rooms in hotel | Room

3,011

Date of commencement of business

Dec. 21, 2004

Number of hotels acquired before commencement of business | Hotel

6

Fixed interest rate

4.00%

Preference stock, shares agreed for redemption | shares

2,460

1,902

11,514

11,514

Preference share, aggregate redemption price

$ 10,700,000

$ 2,700,000

$ 2,100,000

$ 12,300,000

Floating rate of interest rate

3.50%

Debt instrument maturity date

Jul. 7, 2019

Prepayment fee

700,000

200,000

$ 200,000

$ 800,000

Number of issuable warrant shares redeemed | shares

1,000,000

900,000

Percentage ownership by the Operating Partnership in the acquisition

100.00%

Number of units | shares

32,929

Number of remaining issuable warrant shares redeemed | shares

1,000,000

Aggregate purchase price for remaining portion

$ 4,000,000

Number of issuable warrant unit redeemed | shares

1,000,000

10,000

Non recourse mortgage

$ 57,000,000

Amount of distribution proceeds to pay existing loans

$ 3,500,000

Agreement taken to secured loan

$ 19,000,000

Purchase price

$ 25,525,754

$ 61,106,085

$ 30,725,959

Period subject to certain terms and conditions

1 year

Duration of franchise agreement

10 years

Agreement date

2014-11

Proceeds of unsecured notes

$ 25,300,000

27,600,000

Common stock, shares issued | shares

435,000

14,490,714

10,570,932

3,000,000

Proceeds from the sale of common stock

$ 2,800,000

$ 19,800,000

$ 700,000

$ 122,793

$ 2,118

$ 23,250,818

$ 124,911

Mortgage loan term period

4 years

Number of parts mortgage loan issued | mortgage

2

Mortgage loans

$ 18,500,000

271,737,608

205,291,657

Mortgage loan additional earn-out provision

1,500,000

Proceeds from mortgage loans

$ 2,000,000

Floating interest rate period

30 days

Amortization Period

25 years

Business acquisition percentage of voting interests acquired

75.00%

Subsequent Event [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Number of issuable warrant unit redeemed | shares

422,687

Crowne Plaza Hollywood Beach Resort [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Percentage owned by the Company of the Operating Partnership

100.00%

Business acquisition percentage of voting interests acquired

75.00%

First Installment [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Mortgage loans

$ 18,000,000

Second Installment [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Mortgage loans

$ 500,000

Common Stock [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Number of issuable warrant unit redeemed | shares

3,300

Common stock, shares issued | shares

98,682

Bridge Loan [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Debt instrument maturity date

Mar. 26, 2015

Interest rate

10.00%

Repayment of Bridge Loan

$ 19,000,000

Richmond Hill Capital Partners Lp [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Agreement taken to secured loan

$ 19,000,000

Richmond Hill Capital Partners Lp [Member] | Bridge Loan [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Debt instrument maturity date

Mar. 26, 2015

Interest rate

10.00%

Bank Of America [Member] | Crowne Plaza Hollywood Beach Resort [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Debt instrument maturity date

Oct. 1, 2025

Interest rate

4.913%

Amortization schedule

30 years

Mortgage loan term period

10 years

Mortgage loans

$ 60,000,000

Crowne Plaza Houston Downtown [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Acquired property value

$ 30,900,000

Georgian Terrace [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Rooms in hotel | Room

326

Purchase price

$ 61,106,085

Parking space | ParkingSpaces

698

Development parcel | a

0.3

0.6

Proceeds from sale of real estate

$ 2,200,000

Georgian Terrace [Member] | Bank Of America [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Debt instrument maturity date

Jun. 1, 2025

Interest rate

4.42%

Amortization schedule

30 years

Carrying amount

$ 47,000,000

Essex Illiquid, LLC and Richmond Hill Capital Partners, LP [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Warrant redeemed to purchase common stock | shares

1,900,000

Essex Warrant [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Warrant redeemed to purchase common stock | shares

1,900,000

Number of issuable warrant shares redeemed | shares

900,000

Aggregate cash redemption price

$ 3,200,000

Sotherly Hotels LP [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Preference share, aggregate redemption price

10,700,000

Prepayment fee

700,000

Warrant redeemed to purchase common stock | shares

1,900,000

Purchase price

$ 25,525,754

61,106,085

30,725,959

Proceeds of unsecured notes

25,300,000

$ 27,600,000

Sotherly Hotels LP [Member] | Essex Warrant [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Preference stock, shares agreed for redemption | shares

1,000,000

900,000

Preference share, aggregate redemption price

$ 4,000,000

$ 3,200,000

Aggregate purchase price for remaining portion

$ 4,000,000

Towne Bank

Organization Consolidation and Presentation of Financial Statements [Line Items]

Principal payment of loan under extension agreement

$ 800,000

$ 1,100,000

Reduced principal balance of loan under extension agreement

6,000,000

Principal payment on extended maturity agreement - monthly

$ 83,000

$ 16,000

Floating rate of interest rate

4.55%

Minimum rate of interest

5.00%

Extended maturity date of mortgage loan

Jun. 30, 2016

Interest rate

5.00%

CIBC [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Amount of mortgage loan

$ 15,600,000

Interest rate on amount borrowed

4.78%

Amortization schedule for level payments of principal and interest on a monthly basis

30 years

Debt instrument maturity date

Aug. 1, 2018

Loan proceeds were placed into a restricted reserve

$ 700,000

Prepayment fee

200,000

CIBC [Member] | Series A Cumulative Redeemable Preferred Stock [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Preference share, aggregate redemption price

$ 2,700,000

Proceeds of the mortgage used to redeem Preferred Stock | shares

2,460

Bank Of Ozarks [Member] | First Mortgage Loans [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Floating rate of interest rate

3.75%

Debt instrument maturity date

Mar. 27, 2017

Mortgage from Bank of the Ozarks

$ 41,500,000

Restricted cash reserve

$ 1,500,000

Floating rate of interest rate

4.00%

Amortization schedule

25 years

Period subject to certain terms and conditions

1 year

8.0% Senior Unsecured Notes [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Amount of mortgage loan

$ 27,600,000

Interest rate on amount borrowed

8.00%

Debt instrument maturity date

Sep. 30, 2018

Interest rate

8.00%

8.0% Senior Unsecured Notes [Member] | Sotherly Hotels LP [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Amount of mortgage loan

$ 27,600,000

Debt instrument maturity date

Sep. 30, 2018

Interest rate

8.00%

7.0% Senior Unsecured Notes [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Amount of mortgage loan

$ 25,300,000

$ 25,300,000

Debt instrument maturity date

Nov. 15, 2019

Interest rate

7.00%

7.00%

Proceeds of unsecured notes

$ 25,300,000

Hilton Raleigh Brownstone-University Hotel [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Amount of mortgage loan

$ 10,000,000

Fixed interest rate

5.25%

Interest floor rate

5.25%

Mortgage bears interest rate after 5 years

3.00%

Extension in loan agreement

5 years

Preference stock, shares agreed for redemption | shares

1,902

Preference share, aggregate redemption price

$ 2,100,000

Hilton Raleigh Brownstone-University Hotel [Member] | Mortgage Loans [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Amount of mortgage loan

$ 8,000,000

Hilton Raleigh Brownstone-University Hotel [Member] | Mortgage Loans [Member] | Extensions [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Interest rate terms for Mortgage Loan extension.

If the mortgage loan is extended, it will adjust to a rate of 3.00% plus the current 5-year U.S. Treasury bill rate of interest, with an interest rate floor of 5.25%

Crowne Plaza Hampton Marina [Member] | Towne Bank

Organization Consolidation and Presentation of Financial Statements [Line Items]

Extended maturity date

Jun. 30, 2014

Extended maturity date of mortgage loan

Jun. 30, 2015

Crowne Plaza Hampton Marina [Member] | Mortgage Loans [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Floating rate of interest rate

5.00%

Debt instrument maturity date

Jun. 30, 2016

Interest rate

5.00%

Mortgage loans

$ 3,512,586

4,509,500

Double Tree By Hilton Philadelphia Airport [Member] | TD Bank [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Amount of mortgage loan

$ 30,000,000

Interest floor rate

3.50%

Floating rate of interest rate

3.00%

Debt instrument maturity date

Apr. 1, 2019

Amortization schedule

25 years

Additional mortgage loan

$ 5,600,000

Double Tree By Hilton Philadelphia Airport [Member] | Mortgage Loans [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Floating rate of interest rate

3.00%

Debt instrument maturity date

Apr. 1, 2019

Floating rate of interest rate

3.50%

Amortization schedule

25 years

Mortgage loans

$ 32,376,795

33,378,102

Double Tree by Hilton Jacksonville Riverfront [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Additional proceeds on mortgage loan

$ 2,000,000

$ 3,000,000

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Extended maturity date

Jul. 31, 2020

Floating rate of interest rate

3.50%

Debt instrument maturity date

Jul. 7, 2019

Amortization schedule

25 years

Mortgage loans

$ 19,774,577

16,358,706

Double Tree by Hilton Laurel [Member] | Subsequent Event [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Additional proceeds on mortgage loan

$ 2,600,000

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Debt instrument maturity date

Aug. 5, 2021

Amortization schedule

25 years

Mortgage loans

$ 9,500,000

$ 6,974,458

Operating Partnership [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Percentage owned by the Company of the Operating Partnership

86.80%

Warrant redeemed to purchase common stock | shares

1,900,000

Summary of Significant Accoun38

Summary of Significant Accounting Policies - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2015USD ($)Segmentshares	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Jul. 31, 2015	Jul. 30, 2015
Summary Of Significant Accounting Policies [Line Items]
Percentage of remaining ownership interest acquired				75.00%
Gain on change in control	$ 6,603,148
Federal Deposit Insurance Corporation protection limits	250,000
Un-amortized franchise fees	339,542	$ 394,139
Amortization expense	124,632	50,908	$ 49,658
Lease revenue	1,776,518	1,657,614	1,734,944
Uncertain tax positions	0
Compensation cost recognized	285,978	245,565	323,800
Advertising cost	$ 280,625	198,991	181,886
Number of reportable segment | Segment	1
Impairment of hotel properties	$ 500,000	3,175,000	611,000
Director [Member]
Summary Of Significant Accounting Policies [Line Items]
Shares issued but not vested | shares	12,000
Executives, Directors and Employees [Member]
Summary Of Significant Accounting Policies [Line Items]
Shares issued under plan | shares	74,600
2004 Plan [Member]
Summary Of Significant Accounting Policies [Line Items]
Shares issued under plan | shares	337,438
Termination year of stock based compensation plan	2,013
Performance-based stock awards granted | shares	0
Compensation cost recognized	$ 285,978	245,565	323,800
Stock based compensation plan termination date	Apr. 30, 2013
2004 Plan [Member] | Executives and Employees [Member]
Summary Of Significant Accounting Policies [Line Items]
Shares issued under plan | shares	255,938
Vesting period of employment contract	3 years
2004 Plan [Member] | Director [Member]
Summary Of Significant Accounting Policies [Line Items]
Shares issued under plan | shares	81,500
Stock-based Compensation , Number of Shares, Vested | shares	81,500
2004 Plan [Member] | Chief Financial Officer [Member]
Summary Of Significant Accounting Policies [Line Items]
Shares issued but not vested | shares	18,000
2013 Plan [Member]
Summary Of Significant Accounting Policies [Line Items]
Shares issued under plan | shares	109,100
Performance-based stock awards granted | shares	0
Compensation cost recognized	$ 285,978	245,565	323,800
2013 Plan [Member] | Director [Member]
Summary Of Significant Accounting Policies [Line Items]
Shares issued under plan | shares	34,500
Crowne Plaza Hollywood Beach Resort [Member]
Summary Of Significant Accounting Policies [Line Items]
Percentage of ownership interest	100.00%
Percentage of operating partnership owned				25.00%	25.00%
Percentage of remaining ownership interest acquired					75.00%
Carlyle [Member]
Summary Of Significant Accounting Policies [Line Items]
Percentage of indirect controlling interest owned				75.00%	75.00%
Sotherly Hotels LP [Member]
Summary Of Significant Accounting Policies [Line Items]
Gain on change in control	$ 6,603,148
Compensation cost recognized	285,978	245,565	323,800
Impairment of hotel properties	$ 500,000	$ 3,175,000	$ 611,000
Maximum [Member] | 2004 Plan [Member]
Summary Of Significant Accounting Policies [Line Items]
Restricted and performance stock awards permitted to grant to employees | shares	350,000
Maximum [Member] | 2013 Plan [Member]
Summary Of Significant Accounting Policies [Line Items]
Restricted and performance stock awards permitted to grant to employees | shares	750,000
Buildings and Improvements [Member] | Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Estimated useful lives of the assets	7 years
Buildings and 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 Accoun39

Summary of Significant Accounting Policies - Derivative Instruments and Mortgage Debt Measured at Fair Value (Detail) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Level 1 [Member] | Unsecured Notes [Member]
Derivatives Fair Value [Line Items]
Debt instruments measured at fair value	$ (54,238,600)	$ (53,816,320)
Level 2 [Member] | Interest Rate Cap [Member]
Derivatives Fair Value [Line Items]
Interest rate cap	70,981
Level 2 [Member] | Mortgage Loans [Member]
Derivatives Fair Value [Line Items]
Debt instruments measured at fair value	(272,933,327)	(209,994,659)
Investment In Hotel Property, Net [Member] | Level 3 [Member]
Derivatives Fair Value [Line Items]
Investment in hotel property, net	$ 5,700,762	$ 6,396,787

Summary of Significant Accoun40

Summary of Significant Accounting Policies - Schedule of Minimum Future Lease Payments Receivable (Detail)	Dec. 31, 2015USD ($)
Leases [Abstract]
December 31, 2016	$ 1,336,016
December 31, 2017	863,350
December 31, 2018	352,384
December 31, 2019	233,286
December 31, 2020	188,158
December 31, 2021 and thereafter	539,063
Total	$ 3,512,257

Acquisition of Hotel Properti41

Acquisition of Hotel Properties - Additional Information (Detail)	Jul. 31, 2015USD ($)Room	Mar. 27, 2014USD ($)Room	Dec. 31, 2015USD ($)Room	Dec. 31, 2014USD ($)	Dec. 31, 2015USD ($)Room	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Business Acquisition [Line Items]
Business acquisition percentage of voting interests acquired	75.00%
Rooms in hotel | Room			3,011		3,011
Net cash					$ 25,525,754	$ 61,106,085	$ 30,725,959
Crowne Plaza Hollywood Beach Resort [Member]
Business Acquisition [Line Items]
Business acquisition percentage of voting interests acquired	75.00%
Rooms in hotel | Room	311
Net cash	$ 25,525,754
Total revenue from acquisitions			$ 5,200,000
Net loss from acquisitions			$ (1,100,000)
Georgian Terrace [Member]
Business Acquisition [Line Items]
Rooms in hotel | Room		326
Net cash		$ 61,106,085
Total revenue from acquisitions				$ 16,400,000
Net loss from acquisitions				$ (2,200,000)

Acquisition of Hotel Properti42

Acquisition of Hotel Properties - Allocation of Purchase Price Based on Fair Values (Detail) - USD ($)	Jul. 31, 2015	Mar. 27, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Business Acquisition [Line Items]
Net cash			$ 25,525,754	$ 61,106,085	$ 30,725,959
Georgian Terrace [Member]
Business Acquisition [Line Items]
Land and land improvements		$ 10,127,687
Buildings and improvements		45,385,939
Furniture, fixtures and equipment		5,163,135
Investment in hotel properties		60,676,761
Restricted cash		124,658
Accounts receivable		465,287
Prepaid expenses, inventory and other assets		430,997
Accounts payable and accrued liabilities		(591,618)
Net cash		$ 61,106,085
Crowne Plaza Hollywood Beach Resort [Member]
Business Acquisition [Line Items]
Land and land improvements	$ 24,008,289
Buildings and improvements	64,854,787
Furniture, fixtures and equipment	2,802,135
Investment in hotel properties	91,665,211
Restricted cash	1,159,759
Accounts receivable	140,588
Prepaid expenses, inventory and other assets	797,505
Assumed mortgage	(57,259,159)
Accounts payable and accrued liabilities	(2,517,380)
Equity investment	(1,857,622)
Gain on change in control	(6,603,148)
Net cash	$ 25,525,754

Acquisition of Hotel Properti43

Acquisition of Hotel Properties - Pro Forma Results Prepared for Comparative Purposes (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Business Combinations [Abstract]
Pro forma revenues	$ 151,931,931	$ 147,451,042
Pro forma operating expenses	133,346,497	129,961,867
Pro forma operating income	18,585,434	17,489,175
Pro forma net income (loss)	$ 1,017,180	$ (1,671,774)
Pro forma earnings (loss) per basic and diluted share	$ 0.07	$ (0.10)
Pro forma earnings (loss) per basic and diluted units	$ 0.07	$ (0.10)
Pro forma basic and diluted common shares	12,541,117	13,812,125
Pro forma basic and diluted units	14,924,410	16,542,413

Investment in Hotel Propertie44

Investment in Hotel Properties - Schedule of Hotel Properties (Detail) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Total Gross	$ 435,875,967	$ 333,589,913
Less: accumulated depreciation and impairment	(80,912,725)	(73,397,760)
Total Net	354,963,242	260,192,153
Land and Land Improvements [Member]
Property, Plant and Equipment [Line Items]
Total Gross	59,910,212	37,483,400
Buildings and Improvements [Member]
Property, Plant and Equipment [Line Items]
Total Gross	333,720,421	257,343,516
Furniture, Fixtures and Equipment [Member]
Property, Plant and Equipment [Line Items]
Total Gross	$ 42,245,334	$ 38,762,997

Investment in Hotel Propertie45

Investment in Hotel Properties - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Property Plant And Equipment Capitalized Interest Costs [Abstract]
Impairment of hotel properties	$ 500,000	$ 3,175,000	$ 611,000

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($)	Jul. 07, 2015	Nov. 21, 2014	Sep. 30, 2013	Dec. 31, 2015	Dec. 31, 2014	Nov. 24, 2014	Mar. 26, 2014
Debt Instrument [Line Items]
Mortgage loan outstanding balance				$ 272,000,000	$ 205,300,000
Debt instrument maturity date	Jul. 7, 2019
Secured Bridge Loan							$ 19,000,000
Bridge Loan [Member]
Debt Instrument [Line Items]
Interest rate on loan				10.00%
Debt instrument maturity date				Mar. 26, 2015
Limited partnership interests in the subsidiary				100.00%
Outstanding balance on the Bridge Financing				$ 0	$ 0
7.0% Senior Unsecured Notes [Member]
Debt Instrument [Line Items]
Interest rate on loan		7.00%				7.00%
Borrowed amount		$ 25,300,000				$ 25,300,000
Debt instrument maturity date				Nov. 15, 2019
Debt instrument callable date				Nov. 16, 2017
Notes face value		101.00%
8.0% Senior Unsecured Notes [Member]
Debt Instrument [Line Items]
Interest rate on loan			8.00%
Borrowed amount			$ 27,600,000
Debt instrument maturity date				Sep. 30, 2018
Debt instrument callable date				Oct. 1, 2016
Notes face value			101.00%

Debt - Schedule of Mortgage Deb

Debt - Schedule of Mortgage Debt Obligations on Hotels (Detail) - USD ($)	Jul. 07, 2015	Dec. 31, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Mortgage loans	$ 18,500,000	$ 271,737,608	$ 205,291,657
Unamortized premium on loan		240,336
Total Mortgage Loans		271,977,944	205,291,657
Maturity Date	Jul. 7, 2019
Excess Interest rate over LIBOR on mortgage debt	3.50%
Crowne Plaza Hampton Marina [Member] | Mortgage Loans [Member]
Debt Instrument [Line Items]
Mortgage loans		$ 3,512,586	4,509,500
Prepayment Penalties		None
Maturity Date		Jun. 30, 2016
Amortization Provisions		$ 83,000
Excess Interest rate over LIBOR on mortgage debt		5.00%
Crowne Plaza Hollywood Beach Resort [Member] | Mortgage Loans [Member]
Debt Instrument [Line Items]
Mortgage loans		$ 59,795,743
Prepayment Penalties		N/A
Maturity Date		Oct. 1, 2025
Amortization schedule for level payments of principal and interest		30 years
Interest rate applicable to the mortgage loan		4.913%
Crowne Plaza Houston Downtown [Member] | Mortgage Loans [Member]
Debt Instrument [Line Items]
Mortgage loans		$ 20,459,256	20,954,867
Prepayment Penalties		None
Maturity Date		Nov. 13, 2017
Amortization schedule for level payments of principal and interest		25 years
Interest rate applicable to the mortgage loan		4.50%
Crowne Plaza Tampa Westshore [Member] | Mortgage Loans [Member]
Debt Instrument [Line Items]
Mortgage loans		$ 13,016,045	13,317,684
Prepayment Penalties		None
Maturity Date		Jun. 18, 2017
Amortization schedule for level payments of principal and interest		25 years
Interest rate applicable to the mortgage loan		5.60%
Double Tree by Hilton Jacksonville Riverfront [Member] | Mortgage Loans [Member]
Debt Instrument [Line Items]
Mortgage loans		$ 19,774,577	16,358,706
Prepayment Penalties		Yes
Maturity Date		Jul. 7, 2019
Amortization schedule for level payments of principal and interest		25 years
Excess Interest rate over LIBOR on mortgage debt		3.50%
Double Tree by Hilton Laurel [Member] | Mortgage Loans [Member]
Debt Instrument [Line Items]
Mortgage loans		$ 9,500,000	6,974,458
Prepayment Penalties		Yes
Maturity Date		Aug. 5, 2021
Amortization schedule for level payments of principal and interest		25 years
Interest rate applicable to the mortgage loan		5.25%
Double Tree By Hilton Philadelphia Airport [Member] | Mortgage Loans [Member]
Debt Instrument [Line Items]
Mortgage loans		$ 32,376,795	33,378,102
Prepayment Penalties		None
Maturity Date		Apr. 1, 2019
Amortization schedule for level payments of principal and interest		25 years
Excess Interest rate over LIBOR on mortgage debt		3.00%
Doubletree By Hilton Raleigh Brownstone - University [Member] | Mortgage Loans [Member]
Debt Instrument [Line Items]
Mortgage loans		$ 15,029,121	15,274,284
Prepayment Penalties		N/A
Maturity Date		Aug. 1, 2018
Amortization schedule for level payments of principal and interest		30 years
Interest rate applicable to the mortgage loan		4.78%
Georgian Terrace [Member] | Mortgage Loans [Member]
Debt Instrument [Line Items]
Mortgage loans		$ 46,579,011	41,500,000
Prepayment Penalties		N/A
Maturity Date		Jun. 1, 2025
Amortization schedule for level payments of principal and interest		30 years
Interest rate applicable to the mortgage loan		4.42%
Hilton Savannah DeSoto [Member] | Mortgage Loans [Member]
Debt Instrument [Line Items]
Mortgage loans		$ 20,522,836	21,050,093
Prepayment Penalties		Yes
Maturity Date		Sep. 1, 2017
Amortization schedule for level payments of principal and interest		25 years
Interest rate applicable to the mortgage loan		6.06%
Hilton Wilmington Riverside [Member] | Mortgage Loans [Member]
Debt Instrument [Line Items]
Mortgage loans		$ 19,825,772	20,389,325
Prepayment Penalties		Yes
Maturity Date		Apr. 1, 2017
Amortization schedule for level payments of principal and interest		25 years
Interest rate applicable to the mortgage loan		6.21%
Sheraton Louisville Riverside [Member] | Mortgage Loans [Member]
Debt Instrument [Line Items]
Mortgage loans		$ 11,345,866	$ 11,584,638
Prepayment Penalties		N/A
Maturity Date		Jan. 6, 2017
Amortization schedule for level payments of principal and interest		25 years
Interest rate applicable to the mortgage loan		6.24%

Debt - Schedule of Mortgage D48

Debt - Schedule of Mortgage Debt Obligations on Hotels (Parenthetical) (Detail) - Mortgage Loans [Member] - USD ($)	12 Months Ended
	Dec. 31, 2015	Jun. 27, 2014
Crowne Plaza Hampton Marina [Member]
Debt Instrument [Line Items]
Debt instrument periodic payment	$ 83,000
Interest rate		5.00%
Crowne Plaza Hollywood Beach Resort [Member]
Debt Instrument [Line Items]
Prepayment date before maturity	Jun. 30, 2025
Crowne Plaza Houston Downtown [Member]
Debt Instrument [Line Items]
Note extended date	2016-03
Extended maturity date	Nov. 30, 2018
Double Tree by Hilton Jacksonville Riverfront [Member]
Debt Instrument [Line Items]
Extended maturity date	Jul. 31, 2020
Prepayment date before maturity in which prepayment is allowed with penalty	Jul. 31, 2017
Doubletree By Hilton Raleigh Brownstone - University [Member]
Debt Instrument [Line Items]
Number of months for prepayment before maturity	2 months
Georgian Terrace [Member]
Debt Instrument [Line Items]
Prepayment date before maturity	Feb. 28, 2025
Double Tree By Hilton Philadelphia Airport [Member]
Debt Instrument [Line Items]
Interest rate	3.50%
Hilton Savannah DeSoto [Member]
Debt Instrument [Line Items]
Period in which prepayment not allowed	6 years
Period before maturity in which prepayment is allowed with penalty	90 days
Double Tree by Hilton Laurel [Member]
Debt Instrument [Line Items]
Prepayment date before maturity in which prepayment is allowed without penalty	Apr. 30, 2021
Interest rate	3.00%
Treasury floor rate of interest	5.25%
Double Tree by Hilton Laurel [Member] | Minimum [Member]
Debt Instrument [Line Items]
Prepayment date before maturity in which prepayment is allowed without penalty	Apr. 30, 2017
Double Tree by Hilton Laurel [Member] | Maximum [Member]
Debt Instrument [Line Items]
Prepayment date before maturity in which prepayment is allowed without penalty	Aug. 31, 2017
Sheraton Louisville Riverside [Member]
Debt Instrument [Line Items]
Number of months for prepayment before maturity	2 months
Hilton Wilmington Riverside [Member]
Debt Instrument [Line Items]
Period in which prepayment not allowed	6 years
Period before maturity in which prepayment is allowed with penalty	90 days

Debt - Schedule of Future Mortg

Debt - Schedule of Future Mortgage Debt Maturities (Detail) - USD ($)	Dec. 31, 2015	Jul. 07, 2015	Dec. 31, 2014
Debt Disclosure [Abstract]
December 31, 2016	$ 9,364,807
December 31, 2017	86,711,703
December 31, 2018	18,184,906
December 31, 2019	49,559,118
December 31, 2020	2,237,443
December 31, 2021 and thereafter	105,679,631
Total future maturities	$ 271,737,608	$ 18,500,000	$ 205,291,657

Preferred Stock, Preferred In50

Preferred Stock, Preferred Interest and Warrants - Additional Information (Detail) - USD ($)	Dec. 23, 2013	Oct. 23, 2013	Sep. 30, 2013	Aug. 01, 2013	Apr. 01, 2013	Mar. 26, 2013	Jun. 18, 2012	Apr. 18, 2011	Dec. 31, 2015	Dec. 31, 2014	Jun. 15, 2012	Dec. 11, 2011
Preferred Units [Line Items]
Gross proceeds from securities purchase agreement								$ 25,000,000
Preferred stock, shares issued								25,000	0	0
Preferred stock, par value								$ 0.01	$ 0.01	$ 0.01
Preferred stock, shares outstanding									0	0
Preference stock, shares agreed for redemption				2,460		1,902	11,514				11,514
Preference share, aggregate redemption price			$ 10,700,000	$ 2,700,000		$ 2,100,000					$ 12,300,000
Prepayment fee			$ 700,000	200,000		200,000	$ 800,000
Amortization of issuance costs						$ 100,000	$ 700,000
Unamortized issuance costs				$ 100,000
Number of issuable warrant shares redeemed	1,000,000	900,000
Aggregate cash redemption price	$ 4,000,000
Number of issuable warrant unit redeemed	1,000,000				10,000
8.0% Senior Unsecured Notes [Member]
Preferred Units [Line Items]
Interest rate on amount borrowed			8.00%
Essex Warrant [Member]
Preferred Units [Line Items]
Warrant purchase common stock								1,900,000
Common stock exercise price									$ 2.25
Aggregate cash redemption price		$ 3,200,000
Number of issuable warrant shares redeemed		900,000
Fair value of Warrant									$ 1,600,000
Risk-free interest rate, fair value assumptions									2.26%
Dividend yield, fair value assumptions									5.00%
Expected volatility, fair value assumptions									60.00%
Expected term, fair value assumptions									5 years 6 months
Essex Warrant [Member] | Maximum [Member]
Preferred Units [Line Items]
Warrant purchase common stock									1,900,000
Series A Cumulative Redeemable Preferred Stock [Member]
Preferred Units [Line Items]
Preferred stock, shares issued												25,354
Preferred stock, par value								$ 0.01
Preferred stock pursuant to articles supplementary								27,650
Preferred stock liquidation preference pursuant to articles supplementary								$ 1,000
Preferred stock cash dividend of liquidation preference								10.00%
Preferred stock dividend of liquidation preference on additional shares								2.00%
Preferred stock, shares outstanding												25,354
Sotherly Hotels LP [Member]
Preferred Units [Line Items]
Warrant purchase common stock								1,900,000
Preference share, aggregate redemption price			$ 10,700,000
Prepayment fee			700,000
Amortization of issuance costs			$ 400,000
Redemption value of the preferred interest									$ 0	$ 0
Sotherly Hotels LP [Member] | Essex Warrant [Member]
Preferred Units [Line Items]
Preference stock, shares agreed for redemption	1,000,000	900,000
Preference share, aggregate redemption price	$ 4,000,000	$ 3,200,000
Aggregate cash redemption price	$ 4,000,000

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2015USD ($)ft²	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Aug. 07, 2014USD ($)
Operating Leased Assets [Line Items]
Annual payment for first year	$ 337,386
Annual payment for second year	$ 256,211
Franchise termination fee recognized				$ 351,800
Hilton Savannah DeSoto [Member]
Operating Leased Assets [Line Items]
Monthly contribution of room revenues	4.00%
Restricted cash reserve	Amount equal to 1 / 12 of the annual real estate taxes due for the properties
Hilton Wilmington Riverside [Member]
Operating Leased Assets [Line Items]
Monthly contribution of room revenues	4.00%
Restricted cash reserve	Amount equal to 1 / 12 of the annual real estate taxes due for the properties
Double Tree by Hilton Jacksonville Riverside [Member]
Operating Leased Assets [Line Items]
Monthly contribution of room revenues	4.00%
Restricted cash reserve	Amount equal to 1 / 12 of the annual real estate taxes due for the properties
Crowne Plaza Hollywood Beach Resort [Member]
Operating Leased Assets [Line Items]
Monthly contribution of room revenues	4.00%
Restricted cash reserve	Amount equal to 1 / 12 of the annual real estate taxes due for the properties
Sheraton Louisville Riverside [Member]
Operating Leased Assets [Line Items]
Monthly contribution of room revenues	4.00%
Restricted cash reserve	Amount equal to 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	4.00%
Restricted cash reserve	Amount equal to 1 / 12 of the annual real estate taxes due for the properties
Crowne Plaza Houston Downtown [Member]
Operating Leased Assets [Line Items]
Monthly contribution of room revenues	4.00%
Crowne Plaza Hampton Marina [Member]
Operating Leased Assets [Line Items]
Monthly contribution of room revenues	4.00%
Georgian Terrace [Member]
Operating Leased Assets [Line Items]
Monthly contribution of room revenues	4.00%
Restricted cash reserve	Amount equal to 1 / 12 of the annual real estate taxes due for the properties
Double Tree By Hilton Philadelphia Airport [Member]
Operating Leased Assets [Line Items]
Monthly contribution of room revenues	4.00%
Minimum [Member]
Operating Leased Assets [Line Items]
Franchise fees of room revenues	2.50%
Additional fees of room revenues	2.50%
Franchise agreement expiry date	April 2,016
Maximum [Member]
Operating Leased Assets [Line Items]
Franchise fees of room revenues	5.00%
Additional fees of room revenues	6.00%
Franchise agreement expiry date	October 2,030
Williamsburg Virginia [Member]
Operating Leased Assets [Line Items]
Area of commercial space leased | ft²	4,836
Rent expense	$ 83,651	$ 71,039	$ 63,393
Commencement date of agreement	Sep. 1, 2009
Lease renewable expiration date	Aug. 31, 2018
Maryland [Member]
Operating Leased Assets [Line Items]
Area of commercial space leased | ft²	1,632
Operating lease, expiring date	Feb. 28, 2017
Rent expense	$ 62,949	50,277	47,813
Prepaid lease expense	21,000
Annual payment for first year	22,848
Annual payment for second year	$ 45,696
Percentage increment	2.75%
Savannah Hotel Property [Member]
Operating Leased Assets [Line Items]
Area of commercial space leased | ft²	2,086
Operating lease, expiring date	Oct. 31, 2006
Duration period under renewal option second	5 years
Expiration date one under renewal option second	Oct. 31, 2011
Expiration date two under renewal option second	Oct. 31, 2016
Expiration date three under renewal option second	Oct. 31, 2021
Rent expense	$ 65,054	63,468	64,700
DoubleTree by Hilton Raleigh Brownstone University [Member]
Operating Leased Assets [Line Items]
Duration of operating lease term	50 years
Operating lease, expiring date	Aug. 31, 2016
Duration period under renewal option second	10 years
Expiration date one under renewal option second	Aug. 31, 2026
Expiration date two under renewal option second	Aug. 31, 2036
Expiration date three under renewal option second	Aug. 31, 2046
Rent expense	$ 95,482	95,482	95,482
Land leased under second amendment dated	Apr. 28, 1998
Land lease originally dated	May 25, 1966
Purchase of leased land at fair market value subject to annual fee payment	$ 9,000
Crowne Plaza Tampa Westshore [Member]
Operating Leased Assets [Line Items]
Operating lease, expiring date	Jul. 31, 2019
Rent expense	$ 2,602	2,602	3,036
Lease agreement	5 years
Commencement date of agreement	Jul. 31, 2009
Annual payment	$ 2,432
Additional renewal of agreement	5 years
Double Tree by Hilton Jacksonville Riverfront [Member]
Operating Leased Assets [Line Items]
Operating lease, expiring date	Sep. 18, 2012
Rent expense	$ 6,020	$ 6,020	$ 6,020
Lease agreement	5 years
Annual payment	$ 4,961
New operating lease annual payment	$ 6,020
Lease renewable expiration date	Sep. 18, 2017
Furniture, Fixtures and Equipment [Member]
Operating Leased Assets [Line Items]
Financing arrangement expiration date	2016-06
Financing arrangement expiration date	2019-03
Six Year Operating Lease Property [Member] | Savannah Hotel Property [Member]
Operating Leased Assets [Line Items]
Duration of operating lease term	6 years
Ninety Nine Year Operating Lease Property [Member] | Savannah Hotel Property [Member]
Operating Leased Assets [Line Items]
Duration of operating lease term	99 years
Operating lease, expiring date	Jul. 31, 2086
Rental income recognized during period	$ 0
Original lump sum rent payment received	$ 990

Commitments and Contingencies52

Commitments and Contingencies - Schedule of Minimum Future Lease Payments (Detail)	Dec. 31, 2015USD ($)
Operating Leases Future Minimum Payments Due [Abstract]
December 31, 2016	$ 337,386
December 31, 2017	256,211
December 31, 2018	188,070
December 31, 2019	121,196
December 31, 2020	95,482
December 31, 2021 and thereafter	541,065
Total	$ 1,539,410

Equity - Additional Information

Equity - Additional Information (Detail)	Sep. 16, 2015shares	Jul. 17, 2015USD ($)shares	Jul. 02, 2015USD ($)	May. 01, 2015shares	Apr. 01, 2015shares	Jan. 29, 2015shares	Nov. 01, 2014USD ($)Directorshares	Oct. 01, 2014shares	Apr. 01, 2014shares	Feb. 14, 2014shares	Dec. 23, 2013shares	Aug. 14, 2013shares	Apr. 01, 2013USD ($)Directorshares	Mar. 01, 2013shares	Jan. 25, 2013shares	Jan. 01, 2013shares	Jun. 30, 2015USD ($)shares	Sep. 30, 2014USD ($)shares	Aug. 31, 2014USD ($)shares	Dec. 31, 2015USD ($)$ / sharesshares	Dec. 31, 2014USD ($)$ / sharesshares	Dec. 31, 2013USD ($)shares	Jul. 01, 2015shares	Nov. 13, 2013shares
Class of Stock [Line Items]
Preferred stock, shares authorized																				972,350	972,350
Common stock, shares authorized																				49,000,000	49,000,000
Common stock, par value | $ / shares																				$ 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 issued		435,000																		14,490,714	10,570,932		3,000,000
Proceeds from the sale of common stock | $		$ 2,800,000	$ 19,800,000														$ 700,000	$ 122,793	$ 2,118	$ 23,250,818	$ 124,911
Common stock, shares outstanding																				14,490,714	10,570,932
Common stock exchange ratio																				1
Redemption of units in operating partnership											1,000,000		10,000
Number of board of director | Director							2						2
Operating Partnership stock redemption value | $							$ 25,621						$ 32,900
Number of units																								32,929
Operating Partnership units not owned																				2,200,827	2,550,827
Sotherly Hotels LP [Member]
Class of Stock [Line Items]
Number of issued unit in Operating Partnership																30,000
Operating Partnership stock redemption value | $																					$ 25,621	$ 32,900
Number of units																				16,524,626	12,990,541
Operating Partnership units outstanding																				16,691,541	13,121,759
Fair market value | $																				$ 15,000,000	$ 19,100,000
Chief Financial Officer [Member] | Sotherly Hotels LP [Member]
Class of Stock [Line Items]
Restricted shares issued																30,000
Common Stock [Member]
Class of Stock [Line Items]
Conversion of units in Operating Partnership to shares of common stock, shares	200,000			50,000	100,000			200,000	110,000			50,000	31,641	50,000						350,000	310,000	131,641
Common stock, shares issued																	98,682
Common stock, shares issued																	98,682	16,979	276	98,682	17,255
Restricted shares issued																				9,750	12,000
Redemption of units in operating partnership							3,300
Common Stock [Member] | Sotherly Hotels LP [Member]
Class of Stock [Line Items]
Number of issued unit in Operating Partnership						36,100				36,750					45,500
Common Stock [Member] | Executive Officer [Member]
Class of Stock [Line Items]
Non-restricted shares issued						26,350				24,000					30,500
Common Stock [Member] | Director [Member]
Class of Stock [Line Items]
Non-restricted shares issued										750
Restricted shares issued						9,750				12,000					15,000
Series A Cumulative Redeemable Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized																				27,650

Equity - Quarterly Distribution

Equity - Quarterly Distributions Declared and Payable by Operating Partnership (Detail) - $ / shares	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013
Sotherly Hotels LP [Member]
Class of Stock [Line Items]
Dividends payable amount per share	$ 0.080	$ 0.080	$ 0.075	$ 0.070	$ 0.065	$ 0.065	$ 0.050	$ 0.045	$ 0.045	$ 0.040	$ 0.035	$ 0.035

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail)	Nov. 01, 2014USD ($)	Dec. 23, 2013USD ($)shares	Oct. 23, 2013USD ($)shares	Apr. 01, 2013USD ($)shares	Dec. 21, 2004	Nov. 30, 2013USD ($)shares	Jul. 31, 2015USD ($)	Dec. 31, 2015USD ($)Hotelshares	Dec. 31, 2014USD ($)Membersshares	Dec. 31, 2013USD ($)	Jul. 30, 2015	Sep. 30, 2013USD ($)	Aug. 01, 2013USD ($)shares	Mar. 26, 2013USD ($)shares	Jun. 18, 2012shares	Jun. 15, 2012USD ($)shares
Related Party Transaction [Line Items]
Due from Chesapeake Hospitality								$ 226,552	$ 197,674
Redemption of units in operating partnership | shares		1,000,000		10,000
Operating Partnership stock redemption value	$ 25,621			$ 32,900
Operating partnership valued										$ 153,636
Preference stock, shares agreed for redemption | shares													2,460	1,902	11,514	11,514
Preference share, aggregate redemption price												$ 10,700,000	$ 2,700,000	$ 2,100,000		$ 12,300,000
Prepayment fee pursuant to the provisions of the articles supplementary												700,000	$ 200,000	$ 200,000
Aggregate cash redemption price		$ 4,000,000
Business-related air travel expense reimbursed to partnership									0
Sotherly Hotels LP [Member]
Related Party Transaction [Line Items]
Due from Chesapeake Hospitality								$ 226,552	197,674
Operating Partnership stock redemption value									25,621	32,900
Preference share, aggregate redemption price												$ 10,700,000
Essex Warrant [Member]
Related Party Transaction [Line Items]
Aggregate cash redemption price			$ 3,200,000
Essex Warrant [Member] | Sotherly Hotels LP [Member]
Related Party Transaction [Line Items]
Preference stock, shares agreed for redemption | shares		1,000,000	900,000
Preference share, aggregate redemption price		$ 4,000,000	$ 3,200,000
Aggregate cash redemption price		$ 4,000,000
8.0% Senior Unsecured Notes [Member]
Related Party Transaction [Line Items]
Interest rate on amount borrowed												8.00%
Crowne Plaza Hollywood Beach Resort [Member]
Related Party Transaction [Line Items]
Percentage of ownership interest								100.00%
Percentage of operating partnership owned							25.00%				25.00%
Chesapeake Hospitality [Member]
Related Party Transaction [Line Items]
Company's outstanding common stock owned by members of Chesapeake Hospitality								9.20%
Operating Partnership units owned by members of Chesapeake Hospitality | shares								1,292,958
Company's common stock shares owned by members of Chesapeake Hospitality | shares								1,329,314
Due from Chesapeake Hospitality								$ 0	50,838
Leasehold revenue								$ 0	350,000	350,000
Expiry date of leasehold interests								Dec. 31, 2011
Strategic alliance agreement term					10 years
Agreement expire date								Dec. 15, 2014
Expiry date of master management agreement								Between December 2014 and March 2019
Management fee of gross revenues for first full fiscal year								2.00%
Management fee of gross revenues for second full fiscal year								2.50%
Management fee of gross revenues for every year thereafter								3.00%
Period of incentive management fee due within end of the fiscal year								90 days
Incentive management of increase in gross operating profit								10.00%
Maximum incentive management fee of gross revenues								0.25%
Agreement term								5 years
Percentage of management fees due thereafter								2.50%
Percentage of management fee due through 2017								2.65%
Base management and administrative fees earned by related party								$ 3,371,668	3,342,782	2,652,070
Incentive management fees earned by related party								79,555	97,025	67,502
Employee medical benefits paid								$ 4,541,546	3,748,587	2,592,115
Expiry date of management agreement								August 2,017
Management fee								3.00%
Base management fees							$ 401,954		592,119	560,847
Chesapeake Hospitality [Member] | Georgian Terrace [Member]
Related Party Transaction [Line Items]
Administrative fee per year								$ 30,000
Chesapeake Hospitality [Member] | Crowne Plaza Houston Downtown and Georgian Terrace Hotel [Member]
Related Party Transaction [Line Items]
Percentage of management fee due through 2015								2.00%
Percentage of management fee due in 2016								2.25%
Percentage of management fees due thereafter								2.50%
Chesapeake Hospitality [Member] | Aggregate Basis [Member]
Related Party Transaction [Line Items]
Number of hotels | Hotel								8
Chesapeake Hospitality [Member] | Individual Basis [Member]
Related Party Transaction [Line Items]
Number of hotels | Hotel								2
Chesapeake Hospitality [Member] | Individual Hotel Management Agreements [Member]
Related Party Transaction [Line Items]
Management fee of gross revenues for first full fiscal year								2.00%
Management fee of gross revenues for second full fiscal year								2.25%
Management fee of gross revenues for every year thereafter								2.50%
Affiliated Entity [Member]
Related Party Transaction [Line Items]
Asset management fee payable								$ 0	73,278	74,464
Affiliated Entity [Member] | Crowne Plaza Hollywood Beach Resort [Member]
Related Party Transaction [Line Items]
Due from Chesapeake Hospitality								$ 0	146,836
Percentage of operating partnership owned											25.00%
MHI Hospitality TRS II, LLC [Member]
Related Party Transaction [Line Items]
Asset management fee as percentage of revenue								1.50%
Asset management fee paid							$ 200,976		$ 300,607	$ 280,274
Board of Directors [Member]
Related Party Transaction [Line Items]
Redemption of units in operating partnership | shares									3,300
Number of members controlled by related party | Members									1
Operating Partnership stock redemption value									$ 25,621
Sotherly Foundation [Member]
Related Party Transaction [Line Items]
Amount loaned to related party								$ 180,000
Loan receivable outstanding								160,000
MHI Hotels Services [Member]
Related Party Transaction [Line Items]
Percentage of ownership interest						1.00%
Conversion of units in Operating Partnership to shares of common stock, shares | shares						32,929
Operating partnership valued						$ 153,636
Daughter of Chief Executive Officer and Her Husband [Member]
Related Party Transaction [Line Items]
Total compensation for related parties								270,240	$ 204,000
Partnership controlled by Chief Executive Officer [Member]
Related Party Transaction [Line Items]
Business-related air travel expense reimbursed to partnership								$ 138,025

Retirement Plans - Additional I

Retirement Plans - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Compensation And Retirement Disclosure [Abstract]
Employer contribution for first 3% of employee contributions	100.00%
Employer contribution for next 2% of employee contributions	50.00%
Percentage of first specified employee contributions	3.00%
Percentage of next specified employee contributions	2.00%
Contribution for retirement plan	$ 40,768	$ 40,586	$ 47,094

Unconsolidated Joint Venture -

Unconsolidated Joint Venture - Additional Information (Detail)	Dec. 31, 2015	Jul. 31, 2015	Jul. 30, 2015
Crowne Plaza Hollywood Beach Resort [Member]
Schedule Of Equity Method Investments [Line Items]
Percentage of direct ownership	100.00%
Percentage of indirect interest owned		25.00%	25.00%
Carlyle [Member]
Schedule Of Equity Method Investments [Line Items]
Percentage of indirect interest owned		75.00%	75.00%

Unconsolidated Joint Venture 58

Unconsolidated Joint Venture - Summarized Financial Information of Investment (Detail) - Crowne Plaza Hollywood Beach Resort [Member] - USD ($)	7 Months Ended	12 Months Ended
	Jul. 31, 2015	Dec. 31, 2014
ASSETS
Investment in hotel property, net		$ 62,823,142
Cash and cash equivalents		2,153,906
Restricted cash		874,111
Accounts receivable		328,755
Prepaid expenses, inventory and other assets		1,489,479
TOTAL ASSETS		67,669,393
LIABILITIES
Mortgage loan, net		57,000,000
Accounts payable and other accrued liabilities		2,195,613
Accounts payable and other accrued liabilities, member		146,836
Advance deposits		398,695
TOTAL LIABILITIES		59,741,144
TOTAL MEMBERS’ EQUITY		7,928,249
TOTAL LIABILITIES AND MEMBERS’ EQUITY		67,669,393
Revenue
Rooms department	$ 10,605,941	15,386,595
Food and beverage department	1,911,950	2,968,395
Other operating departments	880,564	1,385,469
Total revenue	13,398,455	19,740,459
Hotel operating expenses
Rooms department	2,062,515	3,270,930
Food and beverage department	1,442,139	2,270,918
Other operating departments	388,087	655,818
Indirect	4,774,322	7,436,198
Total hotel operating expenses	8,667,063	13,633,864
Depreciation and amortization	1,060,339	2,116,211
General and administrative	252,565	148,873
Total operating expenses	9,979,967	15,898,948
Operating income	3,418,488	3,841,511
Interest expense	(1,516,433)	(2,612,032)
Net (loss) income	$ 1,902,055	$ 1,229,479

Indirect Hotel Operating Expe59

Indirect Hotel Operating Expenses - Summary of Indirect Hotel Operating Expenses (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	$ 51,310,292	$ 45,072,491	$ 33,757,896
General and Administrative [Member]
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	11,595,819	9,823,853	7,258,817
Sales and Marketing [Member]
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	11,426,637	9,788,079	7,497,693
Repairs and Maintenance [Member]
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	6,948,699	6,278,411	4,705,222
Utilities [Member]
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	6,124,458	5,763,990	4,301,755
Franchise Fees [Member]
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	4,016,083	4,122,726	3,098,379
Management Fees, Including Incentive [Member]
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	3,490,586	3,439,807	2,719,573
Property Taxes [Member]
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	5,110,659	3,664,022	2,480,909
Insurance [Member]
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	2,305,967	1,927,935	1,447,485
Other [Member]
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	$ 291,383	$ 263,668	$ 248,063

Income Taxes - Components of In

Income Taxes - Components of Income Tax (Benefit) Provision (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Current:
Federal			$ 68,431
State	$ 444,538	$ 233,940	57,476
Total	444,538	233,940	125,907
Deferred:
Federal	(1,510,726)	(1,718,351)	1,078,543
State	(269,845)	(243,312)	291,646
Total	(1,780,571)	(1,961,663)	1,370,189
Income tax provision (benefit)	$ (1,336,033)	$ (1,727,723)	$ 1,496,096

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Statutory Federal Income Tax (Benefit) Provision (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Statutory federal income tax expense	$ 1,705,610	$ (838,519)	$ (1,012,349)
Effect of non-taxable REIT income	(2,866,950)	(898,576)	2,159,323
State income tax benefit	(174,693)	9,372	349,122
Income tax provision (benefit)	$ (1,336,033)	$ (1,727,723)	$ 1,496,096

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Deferred tax asset	$ 5,390,374	$ 3,543,295
Accumulated net operating losses	4,500,000	2,700,000
Start-up expense related to company	$ 200,000	$ 200,000
Amortized period	15 years
Loss carryforwards, expired	2,028
Valuation allowance	$ 0

Income (Loss) Per Share and P63

Income (Loss) Per Share and Per Unit - Computation of Basic and Diluted Income (Loss) Per Share (Detail) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Numerator
Net income (loss) attributable to the Company for basic computation									$ 5,356,666	$ (584,671)	$ (3,483,969)
Denominator
Weighted average number of common shares outstanding for basic computation									12,541,117	10,377,125	10,156,955
Basic and diluted net income (loss) per share	$ (0.04)	$ 0.27	$ 0.13	$ 0.05	$ (0.31)	$ (0.02)	$ 0.21	$ 0.08	$ 0.43	$ (0.06)	$ (0.34)

Income (Loss) Per Share and P64

Income (Loss) Per Share and Per Unit - Computation of Basic and Diluted Income (Loss) Per Unit (Detail) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule Of Computation Of Basic And Diluted Earnings Per Common Share [Line Items]
Net income (loss)	$ (711,959)	$ 4,636,644	$ 1,759,109	$ 713,859	$ (4,213,362)	$ (280,014)	$ 2,752,555	$ 1,002,314	$ 6,397,653	$ (738,509)	$ (4,473,592)
Basic and diluted net income (loss) per share	$ (0.04)	$ 0.27	$ 0.13	$ 0.05	$ (0.31)	$ (0.02)	$ 0.21	$ 0.08	$ 0.43	$ (0.06)	$ (0.34)
Sotherly Hotels LP [Member]
Schedule Of Computation Of Basic And Diluted Earnings Per Common Share [Line Items]
Net income (loss)									$ 6,397,653	$ (738,509)	$ (4,473,592)
Weighted average number of units outstanding									14,924,410	13,107,413	13,042,020
Basic and diluted net income (loss) per share									$ 0.43	$ (0.06)	$ (0.34)

Quarterly Operating Results (65

Quarterly Operating Results (Unaudited) - Quarterly Operating Results (Detail) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Quarterly Financial Information Disclosure [Abstract]
Total revenue	$ 36,750,863	$ 33,941,875	$ 36,865,108	$ 30,975,630	$ 29,825,377	$ 31,764,453	$ 36,339,701	$ 25,010,389	$ 138,533,476	$ 122,939,919	$ 89,374,527
Total operating expenses	34,127,473	31,976,036	29,689,455	27,410,462	30,441,730	28,622,841	29,120,620	22,249,394	123,203,426	110,434,588	78,967,048
Net operating income (loss)	2,623,390	1,965,839	7,175,653	3,565,168	(616,353)	3,141,612	7,219,081	2,760,995	15,330,050	12,505,331	10,407,479
Net income (loss)	(711,959)	4,636,644	1,759,109	713,859	(4,213,362)	(280,014)	2,752,555	1,002,314	6,397,653	(738,509)	(4,473,592)
Net income (loss) attributable to the Company	$ (522,174)	$ 3,872,394	$ 1,431,110	$ 575,336	$ (3,319,460)	$ (214,902)	$ 2,166,689	$ 783,002	$ 5,356,666	$ (584,671)	$ (3,483,969)
Earnings (loss) per share – basic and diluted	$ (0.04)	$ 0.27	$ 0.13	$ 0.05	$ (0.31)	$ (0.02)	$ 0.21	$ 0.08	$ 0.43	$ (0.06)	$ (0.34)

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail)	Feb. 01, 2016UnitHoldershares	Jan. 25, 2016$ / shares	Jan. 11, 2016$ / shares	Dec. 23, 2013shares	Apr. 01, 2013shares
Subsequent Event [Line Items]
Redemption of units in operating partnership | shares				1,000,000	10,000
Subsequent Event [Member]
Subsequent Event [Line Items]
Dividend paid | $ / shares			$ 0.08
Dividend record date		Mar. 15, 2016	Dec. 31, 2015
Dividend distributed | $ / shares		$ 0.085
Dividend payment date		Apr. 11, 2016
Number of unit holders that redeemed units in operating partnership | UnitHolder	2
Redemption of units in operating partnership | shares	422,687

Schedule III - Real Estate an67

Schedule III - Real Estate and Accumulated Depreciation - Real Estate and Accumulated Depreciation (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 271,738
Initial Costs, Land	59,796
Initial Costs, Building & Improvements	242,410
Costs Capitalized Subsequent to Acquisition, Land	114
Costs Capitalized Subsequent to Acquisition, Building & Improvements	91,310
Gross Amount at End of Year, Land	59,910
Gross Amount at End of Year, Building & Improvements	333,720
Gross Amount at End of Year, Total	393,630	$ 294,827	$ 233,060
Accumulated Depreciation & Impairment	$ (62,041)
Crowne Plaza Hampton Marina - Hampton, Virginia [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Description	Crowne Plaza Hampton Marina – Hampton, Virginia
Encumbrances	$ 3,513
Initial Costs, Land	1,061
Initial Costs, Building & Improvements	6,733
Costs Capitalized Subsequent to Acquisition, Land	36
Costs Capitalized Subsequent to Acquisition, Building & Improvements	3,726
Gross Amount at End of Year, Land	1,097
Gross Amount at End of Year, Building & Improvements	10,459
Gross Amount at End of Year, Total	11,556
Accumulated Depreciation & Impairment	$ (6,751)
Date of Construction	1,988
Date Acquired	2,008
Crowne Plaza Hampton Marina - Hampton, Virginia [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	3 years
Crowne Plaza Hampton Marina - Hampton, Virginia [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	39 years
Crowne Plaza Hollywood Beach Resort - Hollywood Beach, Florida [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Description	Crowne Plaza Hollywood Beach Resort - Hollywood Beach, Florida
Encumbrances	$ 59,796
Initial Costs, Land	24,008
Initial Costs, Building & Improvements	67,660
Costs Capitalized Subsequent to Acquisition, Building & Improvements	(2,762)
Gross Amount at End of Year, Land	24,008
Gross Amount at End of Year, Building & Improvements	64,898
Gross Amount at End of Year, Total	88,906
Accumulated Depreciation & Impairment	$ (745)
Crowne Plaza Houston Downtown - Houston, Texas [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Description	Crowne Plaza Houston Downtown – Houston, Texas
Encumbrances	$ 20,459
Initial Costs, Land	7,374
Initial Costs, Building & Improvements	22,185
Costs Capitalized Subsequent to Acquisition, Land	44
Costs Capitalized Subsequent to Acquisition, Building & Improvements	3,249
Gross Amount at End of Year, Land	7,418
Gross Amount at End of Year, Building & Improvements	25,434
Gross Amount at End of Year, Total	32,852
Accumulated Depreciation & Impairment	$ (1,522)
Date of Construction	1,963
Date Acquired	2,013
Crowne Plaza Houston Downtown - Houston, Texas [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	3 years
Crowne Plaza Houston Downtown - Houston, Texas [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	39 years
Crowne Plaza Tampa Westshore - Tampa, Florida [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Description	Crowne Plaza Tampa Westshore – Tampa, Florida
Encumbrances	$ 13,016
Initial Costs, Land	4,153
Initial Costs, Building & Improvements	9,670
Costs Capitalized Subsequent to Acquisition, Land	283
Costs Capitalized Subsequent to Acquisition, Building & Improvements	22,188
Gross Amount at End of Year, Land	4,436
Gross Amount at End of Year, Building & Improvements	31,858
Gross Amount at End of Year, Total	36,294
Accumulated Depreciation & Impairment	$ (7,215)
Date of Construction	1,973
Date Acquired	2,007
Crowne Plaza Tampa Westshore - Tampa, Florida [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	3 years
Crowne Plaza Tampa Westshore - Tampa, 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 Jacksonville Riverfront – Jacksonville, Florida [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Description	DoubleTree by Hilton Jacksonville Riverfront – Jacksonville, Florida
Encumbrances	$ 19,775
Initial Costs, Land	7,090
Initial Costs, Building & Improvements	14,604
Costs Capitalized Subsequent to Acquisition, Land	73
Costs Capitalized Subsequent to Acquisition, Building & Improvements	6,990
Gross Amount at End of Year, Land	7,163
Gross Amount at End of Year, Building & Improvements	21,594
Gross Amount at End of Year, Total	28,757
Accumulated Depreciation & Impairment	$ (5,005)
Date of Construction	1,970
Date Acquired	2,005
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	$ 9,500
Initial Costs, Land	900
Initial Costs, Building & Improvements	9,443
Costs Capitalized Subsequent to Acquisition, Land	175
Costs Capitalized Subsequent to Acquisition, Building & Improvements	5,120
Gross Amount at End of Year, Land	1,075
Gross Amount at End of Year, Building & Improvements	14,563
Gross Amount at End of Year, Total	15,638
Accumulated Depreciation & Impairment	$ (3,430)
Date of Construction	1,985
Date Acquired	2,004
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	$ 32,376
Initial Costs, Land	2,100
Initial Costs, Building & Improvements	22,031
Costs Capitalized Subsequent to Acquisition, Land	190
Costs Capitalized Subsequent to Acquisition, Building & Improvements	5,443
Gross Amount at End of Year, Land	2,290
Gross Amount at End of Year, Building & Improvements	27,474
Gross Amount at End of Year, Total	29,764
Accumulated Depreciation & Impairment	$ (7,580)
Date of Construction	1,972
Date Acquired	2,004
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 by Hilton Raleigh Brownstone – University – Raleigh, North Carolina [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Description	DoubleTree by Hilton Raleigh Brownstone – University – Raleigh, North Carolina
Encumbrances	$ 15,029
Initial Costs, Land	815
Initial Costs, Building & Improvements	7,416
Costs Capitalized Subsequent to Acquisition, Land	203
Costs Capitalized Subsequent to Acquisition, Building & Improvements	5,436
Gross Amount at End of Year, Land	1,018
Gross Amount at End of Year, Building & Improvements	12,852
Gross Amount at End of Year, Total	13,870
Accumulated Depreciation & Impairment	$ (4,422)
Date of Construction	1,971
Date Acquired	2,004
DoubleTree by Hilton Raleigh Brownstone – University – Raleigh, North Carolina [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	3 years
DoubleTree by Hilton Raleigh Brownstone – University – Raleigh, North Carolina [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	$ 46,579
Initial Costs, Land	10,128
Initial Costs, Building & Improvements	45,386
Costs Capitalized Subsequent to Acquisition, Land	(1,336)
Costs Capitalized Subsequent to Acquisition, Building & Improvements	3,612
Gross Amount at End of Year, Land	8,792
Gross Amount at End of Year, Building & Improvements	48,998
Gross Amount at End of Year, Total	57,790
Accumulated Depreciation & Impairment	$ (2,241)
Date of Construction	1,911
Date Acquired	2,014
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
Hilton Savannah DeSoto - Savannah, Georgia [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Description	Hilton Savannah DeSoto – Savannah, Georgia
Encumbrances	$ 20,523
Initial Costs, Land	600
Initial Costs, Building & Improvements	13,562
Costs Capitalized Subsequent to Acquisition, Land	14
Costs Capitalized Subsequent to Acquisition, Building & Improvements	11,732
Gross Amount at End of Year, Land	614
Gross Amount at End of Year, Building & Improvements	25,294
Gross Amount at End of Year, Total	25,908
Accumulated Depreciation & Impairment	$ (7,850)
Date of Construction	1,968
Date Acquired	2,004
Hilton Savannah DeSoto - Savannah, Georgia [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	3 years
Hilton Savannah DeSoto - Savannah, Georgia [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	39 years
Hilton Wilmington Riverside - Wilmington, North Carolina [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Description	Hilton Wilmington Riverside – Wilmington, North Carolina
Encumbrances	$ 19,826
Initial Costs, Land	785
Initial Costs, Building & Improvements	16,829
Costs Capitalized Subsequent to Acquisition, Land	222
Costs Capitalized Subsequent to Acquisition, Building & Improvements	11,984
Gross Amount at End of Year, Land	1,007
Gross Amount at End of Year, Building & Improvements	28,813
Gross Amount at End of Year, Total	29,820
Accumulated Depreciation & Impairment	$ (10,568)
Date of Construction	1,970
Date Acquired	2,004
Hilton Wilmington Riverside - Wilmington, North Carolina [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	3 years
Hilton Wilmington Riverside - Wilmington, North Carolina [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	39 years
Sheraton Louisville Riverside - Jeffersonville, Indiana [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Description	Sheraton Louisville Riverside – Jeffersonville, Indiana
Encumbrances	$ 11,346
Initial Costs, Land	782
Initial Costs, Building & Improvements	6,891
Costs Capitalized Subsequent to Acquisition, Land	210
Costs Capitalized Subsequent to Acquisition, Building & Improvements	14,592
Gross Amount at End of Year, Land	992
Gross Amount at End of Year, Building & Improvements	21,483
Gross Amount at End of Year, Total	22,475
Accumulated Depreciation & Impairment	$ (4,712)
Date of Construction	1,972
Date Acquired	2,006
Sheraton Louisville Riverside - Jeffersonville, Indiana [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	3 years
Sheraton Louisville Riverside - Jeffersonville, Indiana [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 an68

Schedule III - Real Estate and Accumulated Depreciation - Real Estate and Accumulated Depreciation (Parenthetical) (Detail) $ in Millions	Dec. 31, 2015USD ($)
Real Estate And Accumulated Depreciation Disclosure [Abstract]
Aggregate cost of our real estate assets for federal income tax	$ 391.1

Schedule III - Real Estate an69

Schedule III - Real Estate and Accumulated Depreciation - Reconciliation of Real Estate and Accumulated Depreciation (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Reconciliation of Real Estate
Beginning Balance	$ 294,827,000	$ 233,060,000
Acquisitions	91,669,000	55,514,000
Improvements	11,105,000	6,430,000
Disposal of Assets	(3,971,000)	(177,000)
Ending Balance	393,630,000	294,827,000	$ 233,060,000
Reconciliation of Accumulated Depreciation
Beginning Balance	53,233,000	42,557,000
Current Expense	8,790,000	7,602,000
Impairment	500,000	3,175,000	611,000
Disposal of Assets	(482,000)	(101,000)
Ending Balance	$ 62,041,000	$ 53,233,000	$ 42,557,000