Sotherly Hotels (SOHO) 10-K 15 Mar 19 2018 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2018	Mar. 14, 2019	Jun. 30, 2018
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2018
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	FY
Trading Symbol	SOHO
Entity Registrant Name	SOTHERLY HOTELS INC.
Entity Central Index Key	0001301236
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		14,222,378
Entity Public Float			$ 84,739,106
Sotherly Hotels LP [Member]
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2018
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	FY
Entity Registrant Name	SOTHERLY HOTELS LP
Entity Central Index Key	0001301236
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2018	Dec. 31, 2017
ASSETS
Investment in hotel properties, net	$ 435,725,814	$ 357,799,512
Cash and cash equivalents	33,792,773	29,777,845
Restricted cash	4,075,508	3,651,197
Accounts receivable, net	6,766,696	5,587,077
Accounts receivable - affiliate	262,572	394,026
Prepaid expenses, inventory and other assets	5,262,884	7,292,565
Favorable lease assets, net	2,465,421
Deferred income taxes	5,131,179	5,451,118
TOTAL ASSETS	493,482,847	409,953,340
LIABILITIES
Mortgage loans, net	364,828,845	297,318,816
Unsecured notes, net	23,894,658
Accounts payable and accrued liabilities	16,268,096	13,813,623
Advance deposits	2,815,283	1,572,388
Dividends and distributions payable	3,409,593	3,073,483
TOTAL LIABILITIES	411,216,475	315,778,310
Commitments and contingencies (See Note 6)
Sotherly Hotels Inc. stockholders’ equity
Common stock, par value $0.01, 49,000,000 shares authorized, 14,209,378 shares and 14,078,831 shares issued and outstanding at December 31, 2018 and 2017, respectively	142,093	140,788
Additional paid-in capital	147,085,112	146,249,339
Unearned ESOP shares	(4,379,742)	(4,633,112)
Distributions in excess of retained earnings	(61,052,418)	(48,765,860)
Total Sotherly Hotels Inc. stockholders’ equity	81,824,666	93,020,255
Noncontrolling interest	441,706	1,154,775
TOTAL EQUITY	82,266,372	94,175,030
TOTAL LIABILITIES AND EQUITY	493,482,847	409,953,340
Sotherly Hotels LP [Member]
ASSETS
Investment in hotel properties, net	435,725,814	357,799,512
Cash and cash equivalents	33,792,773	29,777,845
Restricted cash	4,075,508	3,651,197
Accounts receivable, net	6,766,696	5,587,077
Accounts receivable - affiliate	262,572	394,026
Loan receivable - affiliate	4,446,410	4,650,969
Prepaid expenses, inventory and other assets	5,262,884	7,292,565
Favorable lease assets, net	2,465,421
Deferred income taxes	5,131,179	5,451,118
TOTAL ASSETS	497,929,257	414,604,309
LIABILITIES
Mortgage loans, net	364,828,845	297,318,816
Unsecured notes, net	23,894,658
Accounts payable and accrued liabilities	16,268,100	13,813,623
Advance deposits	2,815,283	1,572,388
Dividends and distributions payable	3,466,136	3,119,027
TOTAL LIABILITIES	411,273,022	315,823,854
Commitments and contingencies (See Note 6)
PARTNERS’ CAPITAL
General Partner: 159,876 units and 158,570 units issued and outstanding as of September 30, 2018 and December 31, 2017, respectively	452,165	586,725
Limited Partners: 15,827,642 units and 15,698,401 units issued and outstanding as of September 30, 2018 and December 31, 2017, respectively	16,943,816	29,938,539
TOTAL PARTNERS’ CAPITAL	86,656,235	98,780,455
Sotherly Hotels Inc. stockholders’ equity
TOTAL LIABILITIES AND EQUITY	497,929,257	414,604,309
Sotherly Hotels LP [Member] | 8% Series B Cumulative Redeemable Perpetual Preferred Units [Member]
PARTNERS’ CAPITAL
Preferred units, $0.01 par value, 11,000,000 units authorized;	37,766,531	37,766,531
Sotherly Hotels LP [Member] | 7.875% Series C Cumulative Redeemable Perpetual Preferred Stock [Member]
PARTNERS’ CAPITAL
Preferred units, $0.01 par value, 11,000,000 units authorized;	31,493,723	30,488,660
8.0% Series B Cumulative Redeemable Perpetual Preferred Stock [Member]
Sotherly Hotels Inc. stockholders’ equity
Preferred stock, $0.01 par value, 11,000,000 shares authorized;	16,100	16,100
7.875% Series C Cumulative Redeemable Perpetual Preferred Stock [Member]
Sotherly Hotels Inc. stockholders’ equity
Preferred stock, $0.01 par value, 11,000,000 shares authorized;	$ 13,521	$ 13,000

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	1 Months Ended	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2018	Dec. 31, 2017
Preferred stock, shares authorized	11,000,000	11,000,000	11,000,000
Common stock, par value	$ 0.01	$ 0.01	$ 0.01
Common stock, shares authorized	49,000,000	49,000,000	49,000,000
Common stock, shares issued	14,209,378	14,209,378	14,078,831
Common stock, shares outstanding	14,209,378	14,209,378	14,078,831
Sotherly Hotels LP [Member]
General Partner, units issued	159,876	159,876	158,570
General Partner, units outstanding	159,876	159,876	158,570
Limited Partner, units issued	15,827,642	15,827,642	15,698,401
Limited Partner, units outstanding	15,827,642	15,827,642	15,698,401
Sotherly Hotels LP [Member] | 8% Series B Cumulative Redeemable Perpetual Preferred Units [Member]
Preferred units, par value	$ 0.01	$ 0.01	$ 0.01
Preferred units, authorized	11,000,000	11,000,000	11,000,000
Preferred units, dividend rate percentage		8.00%	8.00%
Preferred units, liquidation preference per units	$ 25	$ 25	$ 25
Preferred units, issued	1,610,000	1,610,000	1,610,000
Preferred units, outstanding	1,610,000	1,610,000	1,610,000
Sotherly Hotels LP [Member] | 7.875% Series C Cumulative Redeemable Perpetual Preferred Units [Member]
Preferred units, par value	$ 0.01	$ 0.01	$ 0.01
Preferred units, authorized	11,000,000	11,000,000	11,000,000
Preferred units, dividend rate percentage	7.875%	7.875%	7.875%
Preferred units, liquidation preference per units	$ 25	$ 25	$ 25
Preferred units, issued	1,352,141	1,352,141	1,300,000
Preferred units, outstanding	1,352,141	1,352,141	1,300,000
8.0% Series B Cumulative Redeemable Perpetual Preferred Stock [Member]
Preferred stock, par value	$ 0.01	$ 0.01	$ 0.01
Preferred stock, shares authorized	11,000,000	11,000,000	11,000,000
Preferred stock, dividend rate percentage		8.00%	8.00%
Preferred stock, liquidation preference per share	$ 25	$ 25	$ 25
Preferred stock, shares issued	1,610,000	1,610,000	1,610,000
Preferred stock, shares outstanding	1,610,000	1,610,000	1,610,000
7.875% Series C Cumulative Redeemable Perpetual Preferred Stock [Member]
Preferred stock, par value	$ 0.01	$ 0.01	$ 0.01
Preferred stock, shares authorized	11,000,000	11,000,000	11,000,000
Preferred stock, dividend rate percentage		7.875%	7.875%
Preferred stock, liquidation preference per share	$ 25	$ 25	$ 25
Preferred stock, shares issued	1,352,141	1,352,141	1,300,000
Preferred stock, shares outstanding	1,352,141	1,352,141	1,300,000

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
REVENUE
Total revenue	$ 178,173,121	$ 154,266,693	$ 152,845,752
Hotel operating expenses
Total hotel operating expenses	130,489,456	113,277,368	112,833,171
Depreciation and amortization	20,884,643	16,999,619	15,019,071
Loss on disposal of assets	511,749	1,489,892	365,319
Corporate general and administrative	6,180,962	6,335,926	6,021,065
Total operating expenses	158,066,810	138,102,805	134,238,626
NET OPERATING INCOME	20,106,311	16,163,888	18,607,126
Other income (expense)
Interest expense	(19,953,746)	(15,727,628)	(17,735,107)
Interest income	352,951	218,656	115,785
Loss on early extinguishment of debt	(753,133)	(1,178,348)	(1,417,905)
Unrealized loss on hedging activities	(808,958)	(28,384)	(37,384)
Gain on sale of assets		76,233
Gain on involuntary conversion of assets	917,767	2,242,876	0
Net (loss) income before income taxes	(138,808)	1,767,293	(467,485)
Income tax benefit (provision)	(469,349)	(1,737,804)	1,367,634
Net (loss) income	(608,157)	29,489	900,149
Less: Net loss attributable to noncontrolling interest	718,093	413,014	26,567
Net income attributable to the Company	109,936	442,503	926,716
Distributions to preferred stockholders	(5,829,914)	(3,781,639)	(1,144,889)
Net loss available to common stockholders	$ (5,719,978)	$ (3,339,136)	$ (218,173)
Net loss per share attributable to common stockholders/operating partner unit
Basic	$ (0.42)	$ (0.24)	$ (0.01)
Weighted average number of common shares/operating partner units outstanding
Basic	13,517,488	13,829,100	14,896,994
Sotherly Hotels LP [Member]
REVENUE
Total revenue	$ 178,173,121	$ 154,266,693	$ 152,845,752
Hotel operating expenses
Total hotel operating expenses	130,489,456	113,277,368	112,833,171
Depreciation and amortization	20,884,643	16,999,619	15,019,071
Loss on disposal of assets	511,749	1,489,892	365,319
Corporate general and administrative	6,180,962	6,335,926	6,021,065
Total operating expenses	158,066,810	138,102,805	134,238,626
NET OPERATING INCOME	20,106,311	16,163,888	18,607,126
Other income (expense)
Interest expense	(19,953,746)	(15,727,628)	(17,735,107)
Interest income	352,951	218,656	115,785
Loss on early extinguishment of debt	(753,133)	(1,178,348)	(1,417,905)
Unrealized loss on hedging activities	(808,958)	(28,384)	(37,384)
Gain on sale of assets		76,233
Gain on involuntary conversion of assets	917,767	2,242,876
Net (loss) income before income taxes	(138,808)	1,767,293	(467,485)
Income tax benefit (provision)	(469,349)	(1,737,804)	1,367,634
Net (loss) income	(608,157)	29,489	900,149
Distributions To Preferred Unit Holders	(5,829,914)	(3,781,639)	(1,144,889)
Net Income Loss Attributable To Operating Partnership Unit Holders	$ (6,438,071)	$ (3,752,150)	$ (244,740)
Net loss per share attributable to common stockholders/operating partner unit
Basic and diluted	$ (0.40)	$ (0.23)	$ (0.01)
Weighted average number of common shares/operating partner units outstanding
Basic and diluted	15,923,978	16,224,005	16,710,935
Rooms Department [Member]
REVENUE
Total revenue	$ 120,993,460	$ 105,727,372	$ 108,199,151
Hotel operating expenses
Total hotel operating expenses	30,334,309	26,673,727	28,300,126
Rooms Department [Member] | Sotherly Hotels LP [Member]
REVENUE
Total revenue	120,993,460	105,727,372	108,199,151
Hotel operating expenses
Total hotel operating expenses	30,334,309	26,673,727	28,300,126
Food and Beverage Department [Member]
REVENUE
Total revenue	38,134,813	34,513,695	35,384,530
Hotel operating expenses
Total hotel operating expenses	28,090,145	24,585,923	24,357,248
Food and Beverage Department [Member] | Sotherly Hotels LP [Member]
REVENUE
Total revenue	38,134,813	34,513,695	35,384,530
Hotel operating expenses
Total hotel operating expenses	28,090,145	24,585,923	24,357,248
Other Operating Departments [Member]
REVENUE
Total revenue	19,044,848	14,025,626	9,262,071
Hotel operating expenses
Total hotel operating expenses	6,419,502	4,405,515	2,438,860
Other Operating Departments [Member] | Sotherly Hotels LP [Member]
REVENUE
Total revenue	19,044,848	14,025,626	9,262,071
Hotel operating expenses
Total hotel operating expenses	6,419,502	4,405,515	2,438,860
Indirect [Member]
Hotel operating expenses
Total hotel operating expenses	65,645,500	57,612,203	57,736,937
Indirect [Member] | Sotherly Hotels LP [Member]
Hotel operating expenses
Total hotel operating expenses	$ 65,645,500	$ 57,612,203	$ 57,736,937

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - USD ($)	Total	Series B Preferred Stock [Member]	Series C Preferred Stock [Member]	Preferred Stock [Member]	Preferred Stock [Member]Series B Preferred Stock [Member]	Preferred Stock [Member]Series C Preferred Stock [Member]	Common Stock [Member]	Additional Paid-In Capital [Member]	Additional Paid-In Capital [Member]Series B Preferred Stock [Member]	Additional Paid-In Capital [Member]Series C Preferred Stock [Member]	Unearned ESOP Shares [Member]	Distributions in Excess of Retained Earnings [Member]	Noncontrolling Interest [Member]
Balances, beginning at Dec. 31, 2015	$ 52,858,368						$ 144,907	$ 82,749,058				$ (33,890,834)	$ 3,855,237
Balances, shares, beginning at Dec. 31, 2015							14,490,714
Net income (loss)	900,149											926,716	(26,567)
Issuance of preferred stock		$ 37,766,531			$ 16,100				$ 37,750,431
Issuance of preferred stock, shares					1,610,000
Issuance of unrestricted common stock awards	128,282						$ 242	128,040
Issuance of unrestricted common stock awards, shares							24,250
Issuance of restricted common stock awards	63,480						$ 120	63,360
Issuance of restricted common stock awards, shares							12,000
Repurchase of common stock	$ (3,164,536)						$ (4,811)	(3,159,725)
Repurchase of common stock, shares	(481,100)						(481,100)
Conversion of Operating Partnership units into shares of common stock							$ 4,227	843,998					(848,225)
Conversion of Operating Partnership units into shares of common stock, shares							422,687
Amortization of restricted stock award	$ 19,920							19,920
Preferred stock dividends declared	(1,144,889)											(1,144,889)
Common stockholders' dividends and distributions declared	(6,088,017)											(5,436,747)	(651,270)
Balances, ending at Dec. 31, 2016	81,339,288			$ 16,100			$ 144,685	118,395,082				(39,545,754)	2,329,175
Balances, shares, ending at Dec. 31, 2016				1,610,000			14,468,551
Net income (loss)	29,489											442,503	(413,014)
Issuance of preferred stock			$ 30,488,660			$ 13,000				$ 30,475,660
Issuance of preferred stock, shares						1,300,000
Issuance of restricted common stock awards	89,160						$ 120	89,040
Issuance of restricted common stock awards, shares							12,000
Repurchase of common stock	$ (2,731,041)						$ (4,017)	(2,727,024)
Repurchase of common stock, shares	(401,720)						(401,720)
Purchase of shares by ESOP	$ (4,874,758)										$ (4,874,758)
Amortization of ESOP shares	238,307							(3,339)			241,646
Amortization of restricted stock award	19,920							19,920
Preferred stock dividends declared	(3,781,639)											(3,781,639)
Common stockholders' dividends and distributions declared	(6,642,356)											(5,880,970)	(761,386)
Balances, ending at Dec. 31, 2017	94,175,030			$ 29,100			$ 140,788	146,249,339			(4,633,112)	(48,765,860)	1,154,775
Balances, shares, ending at Dec. 31, 2017				2,910,000			14,078,831
Net income (loss)	(608,157)											109,936	(718,093)
Issuance of preferred stock			$ 1,005,063			$ 521				$ 1,004,542
Issuance of preferred stock, shares						52,141
Issuance of unrestricted common stock awards	13,478						$ 23	13,455
Issuance of unrestricted common stock awards, shares							2,250
Issuance of restricted common stock awards	89,850						$ 400	89,450
Issuance of restricted common stock awards, shares							40,000
Repurchase of common stock	$ 0
Repurchase of common stock, shares	0
Issuance of common stock	$ 574,174						$ 882	573,292
Issuance of common stock, shares							88,297
Amortization of ESOP shares	243,725							(9,645)			253,370
Amortization of restricted stock award	32,100							32,100
Adjustment to Minority Interest in Operating Partnership								(867,421)					867,421
Preferred stock dividends declared	(5,829,914)											(5,829,914)
Common stockholders' dividends and distributions declared	(7,428,977)											(6,566,580)	(862,397)
Balances, ending at Dec. 31, 2018	$ 82,266,372			$ 29,621			$ 142,093	$ 147,085,112			$ (4,379,742)	$ (61,052,418)	$ 441,706
Balances, shares, ending at Dec. 31, 2018				2,962,141			14,209,378

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash flows from operating activities:
Net (loss) income	$ (608,157)	$ 29,489	$ 900,149
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	20,884,643	16,999,619	15,019,071
Amortization of deferred financing costs	1,020,396	776,410	1,147,864
Amortization of mortgage premium	(24,681)	(24,681)	(24,682)
Gain on involuntary conversion of assets	(917,767)	(2,242,876)	0
Unrealized loss on derivative instrument	808,958	28,384	37,384
Loss on sale or disposal of assets	511,749	1,413,659	365,319
Loss on early extinguishment of debt	753,133	1,178,348	1,417,905
ESOP and share / unit - based compensation	379,153	347,387	211,682
Changes in assets and liabilities:
Accounts receivable	(885,929)	(1,492,119)	(56,573)
Prepaid expenses, inventory and other assets	1,620,941	(2,780,246)	(334,063)
Deferred income taxes	319,939	1,498,222	(1,558,966)
Accounts payable and other accrued liabilities	1,148,869	1,244,731	(35,188)
Advance deposits	1,020,670	(743,399)	663,947
Accounts receivable - affiliate	131,454	(389,851)	222,377
Net cash provided by operating activities	26,163,371	15,843,077	17,976,226
Cash flows from investing activities:
Acquisitions of hotel properties	(79,732,716)	(3,986,849)
Improvements and additions to hotel properties	(22,104,775)	(23,155,738)	(14,912,677)
Proceeds from the sale of hotel property		5,434,856
Proceeds from involuntary conversion	917,767	2,275,666
Proceeds from the sale or disposal of assets	20,677	105,401	213,400
Net cash used in investing activities	(100,899,047)	(19,326,664)	(14,699,277)
Cash flows from financing activities:
Proceeds of mortgage debt	175,800,000	40,500,000	102,700,000
Proceeds from mortgage loan receivable			2,600,711
Proceeds of unsecured debt	25,000,000
Proceeds from issuance of common stock / units, net	574,174
Proceeds from issuance of preferred stock / units, net	1,005,063	30,488,660	37,766,531
Redemption of unsecured notes		(25,300,000)	(27,600,000)
Payments on mortgage loans	(107,237,891)	(25,990,271)	(89,619,564)
Settlement or repurchase of common stock / units		(3,708,891)	(2,061,407)
Payments of deferred financing costs	(3,816,848)	(837,991)	(1,796,351)
Funding of ESOP stock purchase		(4,874,758)
Dividends and distributions paid	(6,319,669)	(5,945,401)	(5,851,813)
Preferred dividends paid	(5,829,914)	(3,781,639)	(339,889)
Net cash provided by financing activities	79,174,915	549,709	15,798,218
Net increase (decrease) in cash, cash equivalents and restricted cash	4,439,239	(2,933,878)	19,075,167
Cash, cash equivalents and restricted cash at the beginning of the period	33,429,042	36,362,920	17,287,753
Cash, cash equivalents and restricted cash at the end of the period	37,868,281	33,429,042	36,362,920
Supplemental disclosures:
Cash paid during the period for interest	18,325,563	15,253,059	16,881,223
Cash paid during the period for income taxes	173,753	162,677	192,965
Non-cash investing and financing activities:
Settlements for repurchase of common stock in accounts payable and accrued liabilities		125,279	1,103,129
Change in amount of improvements to hotel property in accounts payable and accrued liabilities	222,989	151,499	431,858
Change in amount of non-controlling interest and additional paid-in-capital	867,421
Sotherly Hotels LP [Member]
Cash flows from operating activities:
Net (loss) income	(608,157)	29,489	900,149
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	20,884,643	16,999,619	15,019,071
Amortization of deferred financing costs	1,020,396	776,410	1,147,864
Amortization of mortgage premium	(24,681)	(24,681)	(24,682)
Gain on involuntary conversion of assets	(917,767)	(2,242,876)
Unrealized loss on derivative instrument	808,958	28,384	37,384
Loss on sale or disposal of assets	511,749	1,413,659	365,319
Loss on early extinguishment of debt	753,133	1,178,348	1,417,905
ESOP and share / unit - based compensation	462,193	309,574	211,682
Changes in assets and liabilities:
Accounts receivable	(885,929)	(1,492,119)	(56,573)
Prepaid expenses, inventory and other assets	1,620,941	(2,780,246)	(334,063)
Deferred income taxes	319,939	1,498,222	(1,558,966)
Accounts payable and other accrued liabilities	1,148,869	1,244,731	(35,188)
Advance deposits	1,020,670	(743,399)	663,947
Accounts receivable - affiliate	131,454	(389,851)	222,377
Net cash provided by operating activities	26,246,411	15,805,264	17,976,226
Cash flows from investing activities:
Acquisitions of hotel properties	(79,732,716)	(3,986,849)
Improvements and additions to hotel properties	(22,104,775)	(23,155,738)	(14,912,677)
Proceeds from the sale of hotel property		5,434,856
ESOP loan advances		(4,874,758)
ESOP loan payments received	204,559	223,789
Proceeds from involuntary conversion	917,767	2,275,666
Proceeds from the sale or disposal of assets	20,677	105,401	213,400
Net cash used in investing activities	(100,694,488)	(23,977,633)	(14,699,277)
Cash flows from financing activities:
Proceeds of mortgage debt	175,800,000	40,500,000	102,700,000
Proceeds from mortgage loan receivable			2,600,711
Proceeds of unsecured debt	25,000,000
Proceeds from issuance of common stock / units, net	574,174
Proceeds from issuance of preferred stock / units, net	1,005,063	30,488,660	37,766,531
Redemption of unsecured notes		(25,300,000)	(27,600,000)
Payments on mortgage loans	(107,237,891)	(25,990,271)	(89,619,564)
Settlement or repurchase of common stock / units		(3,708,891)	(2,061,407)
Payments of deferred financing costs	(3,816,848)	(837,991)	(1,796,351)
Dividends and distributions paid	(6,607,268)	(6,131,377)	(5,851,813)
Preferred dividends paid	(5,829,914)	(3,781,639)	(339,889)
Net cash provided by financing activities	78,887,316	5,238,491	15,798,218
Net increase (decrease) in cash, cash equivalents and restricted cash	4,439,239	(2,933,878)	19,075,167
Cash, cash equivalents and restricted cash at the beginning of the period	33,429,042	36,362,920	17,287,753
Cash, cash equivalents and restricted cash at the end of the period	37,868,281	33,429,042	36,362,920
Supplemental disclosures:
Cash paid during the period for interest	18,318,331	15,253,059	16,881,223
Cash paid during the period for income taxes	173,753	162,677	192,965
Non-cash investing and financing activities:
Change in amount of improvements to hotel property in accounts payable and accrued liabilities	$ 222,989	151,499	431,858
Settlements for repurchase of common units in accounts payable and accrued liabilities		$ 125,279	$ 1,103,129

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Partners' Capital - USD ($)	Total	Sotherly Hotels LP [Member]	Sotherly Hotels LP [Member]General Partner [Member]	Sotherly Hotels LP [Member]Limited Partner [Member]	Sotherly Hotels LP [Member]Preferred Units [Member]	Sotherly Hotels LP [Member]Preferred Units [Member]Series B Preferred Units [Member]	Sotherly Hotels LP [Member]Preferred Units [Member]Series C Preferred Units [Member]
Balances, beginning at Dec. 31, 2015		$ 52,858,368	$ 774,295	$ 52,084,073
Balances, units, beginning at Dec. 31, 2015			166,915	16,524,626
Issuance of common partnership units		191,762	$ 1,918	$ 189,844
Issuance of common partnership units, number of units			363	35,887
Issuance of preferred partnership units		37,766,531				$ 37,766,531
Issuance of preferred partnership units, number of units					1,610,000
Repurchased common units		$ (3,164,536)	$ (31,645)	$ (3,132,891)
Repurchased common units, number of units		(481,100)	(4,811)	(476,289)
Amortization of restricted units award	$ 19,920	$ 19,920	$ 149	$ 19,771
Preferred units distributions declared		(1,144,889)				(1,144,889)
Partnership units distributions declared		(6,088,017)	(60,881)	(6,027,136)
Net income (loss)	900,149	900,149	(2,447)	(242,293)		1,144,889
Balances, ending at Dec. 31, 2016		81,339,288	$ 681,389	$ 42,891,368		37,766,531
Balances, units, ending at Dec. 31, 2016			162,467	16,084,224	1,610,000
Issuance of common partnership units		89,160	$ 892	$ 88,268
Issuance of common partnership units, number of units			120	11,880
Issuance of preferred partnership units		30,488,660					$ 30,488,660
Issuance of preferred partnership units, number of units					1,300,000
Repurchased common units		$ (2,731,041)	$ (27,310)	$ (2,703,731)
Repurchased common units, number of units		(401,720)	(4,017)	(397,703)
Amortization of restricted units award	19,920	$ 19,920	$ 199	$ 19,721
Unit based compensation		200,494		200,494
Preferred units distributions declared		(3,781,639)				(3,220,000)	(561,639)
Partnership units distributions declared		(6,873,876)	(68,740)	(6,805,136)
Net income (loss)	29,489	29,489	295	(3,752,445)		3,220,000	561,639
Balances, ending at Dec. 31, 2017		98,780,455	$ 586,725	$ 29,938,539		37,766,531	30,488,660
Balances, units, ending at Dec. 31, 2017			158,570	15,698,401	2,910,000
Issuance of common partnership units		677,502	$ 6,775	$ 670,727
Issuance of common partnership units, number of units			1,306	129,241
Issuance of preferred partnership units		1,005,063					1,005,063
Issuance of preferred partnership units, number of units					52,141
Repurchased common units		$ 0
Repurchased common units, number of units		0
Amortization of restricted units award	32,100	$ 32,100	$ 321	$ 31,779
Unit based compensation		326,766		326,766
Preferred units distributions declared		(5,829,914)				(3,220,000)	(2,609,914)
Partnership units distributions declared		(7,727,580)	(77,276)	(7,650,304)
Net income (loss)	$ (608,157)	(608,157)	(64,380)	(6,373,691)		3,220,000	2,609,914
Balances, ending at Dec. 31, 2018		$ 86,656,235	$ 452,165	$ 16,943,816		$ 37,766,531	$ 31,493,723
Balances, units, ending at Dec. 31, 2018			159,876	15,827,642	2,962,141

Organization and Description of

Organization and Description of Business	12 Months Ended
	Dec. 31, 2018
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, as of December 31, 2018, consists of investments in twelve hotel properties, comprising 3,156 rooms and one hotel commercial condominium unit which forms a part of a 400 room condominium-hotel. All of the Company’s hotels, except for The DeSoto, the Georgian Terrace, The Whitehall and the Hyde Resort & Residences, operate under the Hilton, Crowne Plaza, DoubleTree, Hyatt 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. Substantially all of the Company’s assets are held by, and all of its operations are conducted through, Sotherly Hotels LP, (the “Operating Partnership”). Pursuant to the terms of the Amended and Restated Agreement of Limited Partnership (the “Partnership Agreement”), the Company, as general partner, is not entitled to compensation for its services to the Operating Partnership. The Company, as general partner, conducts substantially all of its operations through the Operating Partnership and the Company’s administrative expenses are the obligations of the Operating Partnership. Additionally, the Company is entitled to reimbursement for any expenditure incurred by it on the Operating Partnership’s behalf. For the Company to qualify as a REIT, it cannot operate hotels. Therefore, the Operating Partnership, which, at December 31, 2018, was approximately 88.9% owned by the Company, and its subsidiaries, lease its hotels to direct and indirect subsidiaries of MHI Hospitality TRS Holding, Inc., MHI Hospitality TRS, LLC and certain of its subsidiaries, (collectively, “MHI TRS”), each of which is a wholly-owned subsidiary of the Operating Partnership. For the years ended December 31, 2018, 2017 and 2016, MHI TRS engaged an eligible independent hotel management company, MHI Hotels Services, LLC, which does business as Chesapeake Hospitality (“Chesapeake Hospitality”) and Highgate Hotels, L.P. (“Highgate Hotels”), 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 21, 2016, we entered into an agreement with the existing lender to extend the maturity of the mortgage on The Whitehall until November 2017. On June 27, 2016, we entered into a promissory note and other loan documents to secure a $35.0 million mortgage on the Hilton Savannah DeSoto with MONY Life Insurance Company. The mortgage term is ten years maturing July 1, 2026, subject to certain criteria. The mortgage bears a fixed interest rate of 4.25%. The mortgage amortizes on a 25-year schedule after a 1-year interest-only period. We used the proceeds to repay the existing first mortgage on the Hilton Savannah DeSoto and to pay closing costs, and used the balance of the proceeds to fund ongoing renovations at the hotel and for general corporate purposes. On June 30, 2016, we entered into a loan agreement and other loan documents, including a guaranty of payment by the Operating Partnership, to secure a $19.0 million mortgage on the Crowne Plaza Tampa Westshore with Fifth Third Bank. The mortgage term has an initial term of three years, and may be extended for two additional periods of one year each, subject to certain conditions. The mortgage bears a floating interest rate of the 30-day LIBOR plus 3.75%, subject to a floor rate of 3.75%. The note has monthly principal payments of $23,100 and provides that the mortgage can be extended for two additional periods of one year each, subject to certain conditions On August 23, 2016, the Company sold 1,610,000 shares of 8.0% Series B Cumulative Redeemable Perpetual Preferred Stock (the “Series B Preferred Stock”), for net proceeds after all expenses of approximately $37.8 million, which it contributed to the Operating Partnership for an equivalent number of preferred partnership units. On September 30, 2016, we redeemed the entire $27.6 million aggregate principal amount of our outstanding 8.0% senior unsecured notes (the “8% Notes”). On October 12, 2016, we entered into a loan agreement to secure a $20.5 million mortgage on The Whitehall with the International Bank of Commerce. Pursuant to the loan documents, the loan provided initial proceeds of $15.0 million, with an additional $5.5 million available upon the satisfaction of certain conditions, has a term of five years, bears a floating interest rate of the one month LIBOR plus 3.5%, subject to a floor rate of 4.0%, amortizes on an 18-year schedule after a 2-year interest only period, is subject to prepayment fees, and is guaranteed by Sotherly Hotels LP. On November 3, 2016, On November 3, 2016, we entered into a loan agreement to modify and extend the mortgage on the Crowne Plaza Hampton Marina with TowneBank. Pursuant to the amended loan documents, the loan continues to bear a fixed interest rate of 5.00%, has a maturity date of November 1, 2019, and beginning on December 1, 2016 requires monthly principal payments of $15,367 plus interest. On December 1, 2016, we entered into a promissory note and other loan documents to secure a $35.0 million mortgage on the Hotel Ballast Wilmington, Tapestry Collection by Hilton with MONY Life Insurance Company. Pursuant to the loan documents, the loan: provides initial proceeds of $30.0 million, with an additional $5.0 million available upon the satisfaction of certain conditions. The mortgage term is ten years maturing January 1, 2027, subject to certain criteria. The mortgage bears a fixed interest rate of 4.25%. The mortgage amortizes on a 25-year schedule after a 1-year interest-only period. We used the proceeds to repay the existing first mortgage on the Hotel Ballast Wilmington, Tapestry Collection by Hilton and to pay closing costs, and will use the balance of the proceeds to fund ongoing renovations at the hotel and for general corporate purposes. On December 2, 2016, the Company’s Board of Directors authorized a stock repurchase program under which the Company may purchase up to $10.0 million of its outstanding common stock, par value $0.01 per share, at prevailing prices on the open market or in privately negotiated transactions, at the discretion of management. For the years ended December 31, 2018, 2017 and 2016, the Company repurchased no shares in 2018, 401,720 and 481,100 shares of common stock, respectively, for approximately$0, $2.7 million and $3.2 million, respectively. The repurchased shares have been returned to the status of authorized but unissued shares of common stock. The Company used available working capital to fund purchases under the stock repurchase program and intends to complete the repurchase program prior to December 31, 2019, unless extended by the Board of Directors. On December 29, 2016, the Company adopted an Employee Stock Ownership Plan (“ESOP”), effective as of January 1, 2016. The Company sponsors and maintains the ESOP and related trust for the benefit of its eligible employees. The ESOP is funded by a loan from the Company, pursuant to which the ESOP may borrow up to $5.0 million to purchase shares of the Company’s common stock. From January 3, 2017 to February 28, 2017 the ESOP purchased 682,500 shares of common stock at an aggregate cost of approximately $4.9 million, which it borrowed from the Company under the loan . Coincident with the execution of the loan from the Company to the ESOP, the Operating Partnership committed to fund a loan to the Company to allow the Company to loan funds to the ESOP, for the purpose as stated above. On January 30, 2017, we closed on the purchase of the commercial condominium unit of the Hyde Resort & Residences, a 400-unit condominium hotel located in the Hollywood, Florida market, for an aggregate price of approximately $4.8 million from 4111 South Ocean Drive, LLC. In connection with the closing of the transaction, we entered into a lease agreement for the 400-space parking garage and meeting rooms associated with the condominium hotel, agreements relating to the operation and management of the hotel condominium association and a condominium unit rental program, and a pre-opening services agreement whereby the seller paid us a fee of approximately $0.8 million for certain pre-opening related preparations. On February 7, 2017, we closed on the sale of the Crowne Plaza Hampton Marina to Marina Hotels, LLC for a price of $5.6 million. On June 1, 2017, we entered into an agreement to purchase the commercial unit of the planned Hyde Beach House Resort & Residences, a condominium hotel under development in Hollywood, Florida, for a price of $5.1 million from 4000 South Ocean Property Owner, LLLP. In connection with the agreement, we also entered into a pre-opening services agreement whereby the seller has agreed to pay us approximately $0.8 million in connection with certain pre-opening activities to be undertaken prior to the closing. We have agreed to purchase inventories at closing consistent with the management and operation of the planned hotel and the related condominium association for an additional amount and have further agreed to enter into a lease agreement for the parking garage and poolside cabanas associated with the planned hotel and to enter into a management agreement relating to the operation and management of the planned hotel’s condominium association. We anticipate that the closing of the transaction and the execution of related agreements will take place by the end of 2019, once construction of the planned hotel has been substantially completed. The closing of the transaction is subject to various closing conditions as described in the purchase agreement. On June 29, 2017, we entered into a promissory note and other loan documents to secure a $35.5 million mortgage on the DoubleTree by Hilton Jacksonville Riverfront with Wells Fargo Bank, N.A. Pursuant to the loan documents, the loan has a maturity date of July 11, 2024, bears a fixed interest rate of 4.88%, amortizes on a 30-year schedule, and is subject to a prepayment premium following a prepayment lockout period. We used a portion of the proceeds to repay the existing first mortgage on the DoubleTree by Hilton Jacksonville Riverfront, to pay closing costs and for general corporate purposes. On October 11, 2017, the Company closed a sale and issuance of 1,200,000 shares of its newly authorized 7.875% Series C Cumulative Redeemable Perpetual Preferred Stock (the “Series C Preferred Stock”), for net proceeds after all estimated expenses of approximately $28.0 million. On October 17, 2017, the Company closed a sale and issuance of an additional 100,000 shares of its Series C Preferred Stock, for net proceeds of approximately $2.5 million, pursuant to the underwriters’ partial exercise of an option granted by the Company to purchase additional shares. On November 15, 2017, t he Operating Partnership redeemed the entire $25.3 million principal amount of the 7% Notes, at a redemption price equal to 101% of the principal amount of the 7% Notes, plus any accrued and unpaid interest to, but not including, the redemption date. On February 1, 2018, we received proceeds of $5.0 million on the Hotel Ballast Wilmington, Tapestry Collection by Hilton mortgage loan after meeting certain requirements, per the mortgage documents. On February 12, 2018, the Company and the Operating Partnership closed on a sale and issuance by the Operating Partnership of an aggregate $25.0 million of the 7.25% senior unsecured notes due 2021 (the “7.25% Notes”), unconditionally guaranteed by the Company, for net proceeds after all estimated expenses of approximately $23.3 million. The Operating Partnership used the net proceeds from this offering, together with existing cash on hand and $57.0 million of asset-level mortgage indebtedness, to finance the acquisition of the Hyatt Centric Arlington and for working capital. On February 26, 2018, we entered into a First Amendment to Loan Agreement, Amended and Restated Promissory Note, and other related documents with International Bank of Commerce to amend the terms of the mortgage loan on The Whitehall hotel located in Houston, TX. Pursuant to the amended loan documents, payments of principal and interest on a 25-year amortization schedule have begun and the maturity date was extended until February 26, 2023. On March 1, 2018, we acquired the 318-room Hyatt Centric Arlington located in Arlington, Virginia at an aggregate purchase price of approximately $79.7 million, including seller credits (the “Arlington Acquisition”). Concurrently with the closing, we entered into a franchise agreement with an affiliate of Hyatt Hotels Corporation for the hotel to continue operating as the Hyatt Centric Arlington, and a management agreement with Highgate Hotels for the management of the hotel. The management agreement: (i) has an initial term of three years commencing March 1, 2018; (ii) provides for a base management fee equal to 2.50% of gross revenues; and (iii) On March 1, 2018, we entered into a loan agreement, a first and second promissory note (“Note A” and “Note B”, respectively), and On July 2, 2018, we purchased a portion of the parking lot, previously leased, adjacent to the DoubleTree by Hilton Raleigh Brownstone-University for an aggregate purchase price of $3.5 million. On July 27, 2018, we entered into a loan agreement and other documents, including a promissory note, to secure a mortgage on the DoubleTree by Hilton Raleigh Brownstone-University with MetLife Commercial Mortgage Originator, LLC. The mortgage has an initial principal balance of $18.3 million, with an additional $5.2 million available upon the satisfaction of certain conditions. The mortgage has an initial term of 4 years with a 1-year extension and bears a floating rate of interest equal to the 1-month LIBOR rate plus 4.00%. The mortgage requires monthly interest-only payments and, following a 12-month lockout, can be prepaid with a penalty during its second year and without penalty thereafter. We entered into an interest-rate cap agreement to limit our exposure through August 1, 2022 to increases in LIBOR exceeding 3.25% on a notional amount of $23.5 million. We used a portion of the proceeds to repay the existing first mortgage on the DoubleTree by Hilton Raleigh Brownstone-University and to pay closing costs and intend to use the balance of the proceeds for general corporate purposes. On July 31, 2018, we entered into a second amendment to the loan and security agreement; an amended, restated and consolidated mortgage loan note; and other related documents with its existing lender, TD Bank, N.A., to amend the terms of our mortgage loan on the DoubleTree by Hilton Philadelphia Airport. Concurrent with the loan modification, we also entered into a 5-year swap agreement with The Toronto-Dominion Bank. Pursuant to the amended loan documents: (i) the principal balance of the loan was increased from approximately $30.0 million to $42.2 million; (ii) the loan’s maturity date was extended to July 31, 2023; (iii) the loan bears a floating interest rate equal to the 1-month LIBOR rate plus 2.27% (the “Loan Rate”); (iv) the loan amortizes on a 30-year schedule with payments of principal and interest beginning immediately; (v) the loan can be prepaid without penalty; and (vi) the loan will no longer be fully guaranteed by the Operating Partnership, but the Operating Partnership has guaranteed certain standard “bad boy” carveouts. Pursuant to the swap agreement: (i) the Loan Rate has been swapped for a fixed interest rate of 5.237%; notional amounts of the swap approximate the declining balance of the loan; and (iii) we are responsible for any potential termination fees associated with early termination of the swap agreement. We used a portion of the proceeds to repay in full the existing Note B to the mortgage loan on our Hyatt Centric Arlington and to pay closing costs associated with the amendment and will use the balance of the proceeds for general corporate purposes. On August 31, 2018, we entered into a Sales Agency Agreement, with Sandler O’Neill & Partners, L.P. (“Sandler O’Neill”), under which the Company may sell from time to time through Sandler O’Neill, as sales agent, shares of the Company’s common stock, par value $0.01 per share, having an aggregate gross sales price of up to $5.0 million and up to 400,000 shares of the Company’s 7.875% Series C Cumulative Redeemable Preferred Stock, $0.01 par value per share. Through December 31, 2018, the Company sold 88,297 shares of common stock and 52,141 shares of Series C Preferred Stock, for an aggregate total of approximately $1.8 million in gross proceeds before recognition of offering costs. On September 18, 2018, we entered into a loan agreement and other documents, including a promissory note, to secure a mortgage on the Hyatt Centric Arlington with MetLife Real Estate Lending LLC. Pursuant to the loan documents, the Mortgage Loan has an initial principal balance of $50.0 million; has a term of 10 years; bears a fixed interest rate of 5.25%; amortizes on a 30-year schedule; and following a 5-year lockout, can be prepaid with penalty in years 6-10 and without penalty during the final 4 months of the term. The Company used the proceeds to repay the existing first mortgage on the Hyatt Centric Arlington, to pay closing costs, and for general corporate purposes.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2018
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. All significant inter-company balances and transactions have been eliminated. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. The consolidated financial statements of the Operating Partnership presented herein include all 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 on acquisition date and allocated to land, property and equipment and identifiable intangible assets. Replacements and improvements are capitalized, while repairs and maintenance are expensed as incurred. Upon the sale or retirement of a fixed asset, the cost and related accumulated depreciation are removed from our accounts and any resulting gain or loss is included in the statements of operations. Expenditures under a renovation project, which constitute additions or improvements that extend the life of the property, are capitalized. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, generally 7 to 39 years for buildings and building improvements and 3 to 10 years for furniture, fixtures and equipment. Leasehold improvements are amortized over the shorter of the lease term or the useful lives of the related assets. 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. 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. 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 monitors, on a regular basis, the financial condition of the financial institutions along with the balances there on deposit to minimize our potential risk. Restricted Cash – Restricted cash includes real estate tax escrows, insurance escrows and reserves for replacements of furniture, fixtures and equipment pursuant to certain requirements in our various mortgage agreements. Accounts Receivable – Accounts receivable consists primarily of hotel guest, banqueting and credit card receivables. Ongoing evaluations of collectability are performed and an allowance for potential credit losses is provided against the portion of accounts receivable that is estimated to be uncollectible. Inventories – Inventories, consisting primarily of food and beverages, are stated at the lower of cost or net realizable value, with cost determined on a method that approximates first-in, first-out basis. Franchise License Fees – Fees expended to obtain or renew a franchise license are amortized over the life of the license or renewal. The unamortized franchise fees as of December 31, 2018 and 2017 were approximately $471,996 and $532,070, respectively. Amortization expense for the years ended December 31, 2018, 2017, and 2016 was $60,073, $46,209 and $52,330, respectively. Favorable Lease Assets, Net – Favorable lease assets are recorded on non-market contracts assumed as part of the acquisition of certain hotels. We review the terms of agreements assumed in conjunction with the purchase of a hotel to determine if the terms are favorable or unfavorable compared to an estimated market agreement at the acquisition date. Favorable lease assets are recorded at the acquisition date and amortized using straight-line method over the term of the remaining agreement. Amortization expense for the twelve-month periods ended December 31, 2018, 2017 and 2016 totaled $316,080, $0 and $0, 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 and are reflected in mortgage loans, net and unsecured notes, net on the consolidated balance sheets. Deferred offering costs are recorded at cost and consist of offering fees and other costs incurred in advance of issuing equity and are reflected in prepaid expenses, inventory and other assets on the consolidated balance sheets. Amortization of deferred financing costs is computed using a method that approximates the effective interest method over the term of the related debt and is included in interest expense in the consolidated statements of operations. Our deferred offering costs are applied pro-rata against the minimum anticipated proceeds of an equity offering. If the offering does not generate the minimum anticipated proceeds or is aborted then the excess will be included in corporate general and administrative expenses in the consolidated statements of operations. During the twelve months ended December 31, 2018, 2017 and 2016, the Company wrote off $0, approximately $0.5 million and $0 of deferred offering costs, respectively. As of December 31, 2018, there were no deferred offering costs included in prepaid expenses, inventory and other assets. Derivative Instruments – Our derivative instruments are reflected as assets or liabilities on the consolidated balance sheet and measured at fair value. Derivative instruments used to hedge the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as an interest rate risk, are considered fair value hedges. Derivative instruments used to hedge exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. For a derivative instrument designated as a cash flow hedge, the change in fair value each period is reported in accumulated other comprehensive income in stockholders’ equity and partners’ capital to the extent the hedge is effective. For a derivative instrument designated as a fair value hedge, the change in fair value each period is reported in earnings along with the change in fair value of the hedged item attributable to the risk being hedged. For a derivative instrument that does not qualify for hedge accounting or is not designated as a hedge, the change in fair value each period is reported in earnings. We use derivative instruments to add stability to interest expense and to manage our exposure to interest-rate movements. To accomplish this objective, we currently use interest rate caps and an interest rate swap which act as cash flow hedges and are not designated as hedges. We value our interest-rate caps and interest rate swap at fair value, which we define as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). We also have used 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 assets and liabilities measured at fair value and the basis for that measurement (our interest rate caps and interest rate swap are the only assets or liabilities measured at fair value on a recurring basis and there were no non-recurring asset and liability fair value measurements as of December 31, 2018 and 2017, respectively): Level 1 Level 2 Level 3 December 31, 2017 Interest Rate Cap (1) $ — $ 5,213 $ — Interest Rate Swap (2) $ — $ — $ — Mortgage loans (3) $ — $ (292,368,370 ) $ — Unsecured notes (4) $ — $ — $ — December 31, 2018 Interest Rate Caps (1) $ — $ 94,697 $ — Interest Rate Swap (2) $ — $ (984,677 ) $ — Mortgage loans (3) $ — $ (357,279,949 ) $ — Unsecured notes (4) $ (25,390,000 ) $ — $ — (1) Interest rate caps, which caps the 1-month LIBOR (2) Interest rate swap, which takes the Loan Rate and swaps it for a fixed interest rate of 5.237%; notional amounts of the swap approximate the declining balance of the loan. (3) Mortgage loans are reflected at carrying value on our Consolidated Balance Sheets as of December 31, 2018 and December 31, 2017. (4) Unsecured notes are recorded at historical cost on our Consolidated Balance Sheet as of December 31, 2018. Noncontrolling Interest in Operating Partnership – Certain hotel properties have been acquired, in part, by the Operating Partnership through the issuance of limited partnership units of the Operating Partnership. The noncontrolling interest in the Operating Partnership is: (i) increased or decreased by the limited partners’ pro-rata share of the Operating Partnership’s net income or net loss, respectively; (ii) decreased by distributions; (iii) decreased by redemption of partnership units for the Company’s common stock; and (iv) adjusted to equal the net equity of the Operating Partnership multiplied by the limited partners’ ownership percentage immediately after each issuance of units of the Operating Partnership and/or the Company’s common stock through an adjustment to additional paid-in capital. Net income or net loss is allocated to the noncontrolling interest in the Operating Partnership based on the weighted average percentage ownership throughout the period. Revenue Recognition – Revenue consists of amounts derived from hotel operations, including the sales of rooms, food and beverage, and other ancillary services. Room revenue is recognized over a customer's hotel stay. Revenue from food and beverage and other ancillary services is generated when a customer chooses to purchase goods or services separately from a hotel room and revenue is recognized on these distinct goods and services at the point in time or over the time period that goods or services are provided to the customer. Certain ancillary services are provided by third parties and the Company assesses whether it is the principal or agent in these arrangements. If the Company is the agent, revenue is recognized based upon the commission earned from the third party. If the Company is the principal, the Company recognizes revenue based upon the gross sales price. Some contracts for rooms or food and beverage services require an upfront deposit which is recorded as advanced deposits (or contract liabilities) and recognized once the performance obligations are satisfied and shown on our consolidated balance sheets. Certain of the Company's hotels have retail spaces, restaurants or other spaces which the Company leases to third parties. Lease revenue is recognized on a straight-line basis over the life of the lease and included in other operating revenues in the Company's consolidated statements of operations. The Company collects sales, use, occupancy and similar taxes at its hotels which are presented on a net basis on the consolidated statements of operations. Accounts receivable primarily represents receivables from hotel guests who occupy hotel rooms and utilize hotel services. The Company maintains an allowance for doubtful accounts sufficient to cover estimated potential credit losses. 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 consolidated statement of operations pursuant to the terms of each lease. Lease revenue was $1,730,015, $1,780,525 and $1,785,934, for the years ended December 31, 2018, 2017, and 2016, respectively. A schedule of minimum future lease payments receivable for the following twelve-month periods is as follows: December 31, 2019 $ 1,675,930 December 31, 2020 1,625,491 December 31, 2021 1,566,965 December 31, 2022 1,393,983 December 31, 2023 557,428 December 31, 2024 and thereafter 3,199,781 Total $ 10,019,578 Variable Interest Entities – The Operating Partnership is a variable interest entity. The Company’s only significant asset is its investment in the Operating Partnership, and consequently, substantially all of the Company’s assets and liabilities represent those assets and liabilities of the Operating Partnership and its subsidiaries. All of the Company’s debt is an obligation of the Operating Partnership and its subsidiaries. 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. At December 31, 2018, deferred tax assets total approximately $5.1 million, of which approximately $4.4 million relates to net operating losses of our TRS Lessee. A valuation allowance is required for deferred tax assets if, based on all available evidence, it is “more-likely-than-not” that all or a portion of the deferred tax asset will or will not be realized due to the inability to generate sufficient taxable income in certain financial statement periods. The “more-likely-than-not” analysis means the likelihood of realization is greater than 50%, that we will or will not be able to fully utilize the deferred tax assets against future taxable income. The net amount of deferred tax assets that are recorded on the financial statements must reflect the tax benefits that are expected to be realized using these criteria. We perform this analysis by evaluating future hotel revenues and expenses, accounting for certain non-recurring costs and expenses during the current and prior two fiscal years, as well as anticipated changes in the lease rental payments from the TRS Lessee to subsidiaries of the Operating Partnership. We have determined that it is more-likely-than-not that we will be able to fully utilize our deferred tax assets for future tax consequences, therefore no valuation allowance is required. As of December 31, 2018, 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, 2018, the tax years that remain subject to examination by the major tax jurisdictions to which the Company is subject generally include 2015 through 2017. In addition, as of December 31, 2018, the tax years that remain subject to examination by the major tax jurisdictions to which MHI TRS is subject, because of open NOL carryforwards, generally include 2014 through 2017. 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 and directors for up to 350,000 and 750,000 shares of common stock, respectively. The Company believes that stock awards 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. All of the 255,938 shares issued to certain of our executives and employees have vested. All of the 81,500 restricted shares issued to the Company’s independent directors have vested. The 2004 plan was terminated in 2013. As of December 31, 2018, under the 2013 Plan, the Company has made stock awards totaling 163,350 shares, including 77,600 non-restricted shares to certain executives, directors and employees, and 85,750 restricted shares issued to its independent directors and one employee. All awards have vested except for 20,000 shares issued to one employee, which will vest over the next 4 years. 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, 2018, 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 stock based compensation cost recognized under the 2004 Plan and 2013 Plan for the years ended December 31, 2018, 2017, and 2016 was $135,428, $109,080 and $211,682, respectively. The 2004 Plan was terminated in April 2013. Additionally, the Company sponsors and maintains an ESOP and related trust for the benefit of its eligible employees. We reflect unearned ESOP shares as a reduction of stockholders’ equity. Dividends on unearned ESOP shares, when paid, are considered compensation expense. The Company recognizes compensation expense equal to the fair value of the Company’s ESOP shares during the periods in which they are committed to be released. For the years ended December 31, 2018, 2017, and 2016 the ESOP compensation cost was $253,370, $238,307 and $0, respectively. To the extent that the fair value of the Company’s ESOP shares differs from the cost of such shares, the differential is recognized as additional paid in capital. Because the ESOP is internally leveraged through a loan from the Company to the ESOP, the loan receivable by the Company from the ESOP is not reported as an asset nor is the debt of the ESOP shown as a liability in the Company’s consolidated financial statements. Advertising – Advertising costs were $432,754, $357,379 and $452,665 for the years ended December 31, 2018, 2017, and 2016, respectively and are expensed as incurred. Business Interruption Proceeds – Insurance recoveries for business interruption were recognized during the years ended December 31, 2018 and 2017, for approximately $0.8 million and $0.6 million, respectively. The events that resulted in these recoveries during the year ending December 31, 2018, were an caused by an electrical outage at our property in Houston, Texas and by Hurricane Florence at our property in Wilmington, North Carolina. Business interruption recoveries during the year ended December 31, 2017, were caused by the electrical outage at our property in Houston, Texas and by hurricanes Irma and Matthew at our properties in Savannah, Georgia and Tampa, Florida, respectively. The insurance proceeds were reflected in the statement of operations in other operating departments revenues. Involuntary Conversion of Assets – We record gains or losses on involuntary conversions of assets due to recovered insurance proceeds to the extent the undepreciated cost of a nonmonetary asset differs from the amount of monetary proceeds received. During the years ending December 31, 2018, 2017, and 2016, we recognized approximately $0.9 million, approximately $2.2 million and $0, respectively, for gain on involuntary conversion of assets, which is reflected in the consolidated statements of operations. Comprehensive Income (Loss) – Comprehensive income (loss), as defined, includes all changes in equity (net assets) during a period from non-owner sources. 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. Reclassifications – Certain reclassifications have been made to the prior period’s financial statements to conform to the current year presentation. We have adopted ASU 2016-18 Statement of Cash Flows (Topic 230): Restricted Cash, whereby the restricted cash balances are reflected in the total Cash, Cash Equivalents and Restricted Cash for both current and prior year presentation. We have also reclassified gain (loss) on disposal of assets in the prior period’s consolidated statements of operations, to separate disposals related to changes in estimated useful lives of assets, from assets which were disposed of by sale in the respective periods. Certain other reclassifications in the amount of approximately $0.6 million for the twelve-month period ending December 31, 2016, from rooms expense to indirect expense balances on the consolidated statements of operations have been made to conform to the current period presentation. We also reclassified approximately $0.3 million for the twelve-month period ending December 31, 2016 on the statement of cash flows into line item, loss on early extinguishments of debt, and out of line item, payments of deferred financing costs, in order to conform to the current period presentation. New Accounting Pronouncements – In July 2018, Financial Accounting Standards Board (“FASB”) issued ASU No. 2018-11, Leases (Topic 842): Targeted Improvements, The FASB decided to provide another transition method and practical expedients in addition to the existing transition method (a modified retrospective approach for leases that exist or are entered into after the beginning of the earliest comparative period in the financial statements) by allowing entities to initially apply the new leases standard at the adoption date (such as January 1, 2019, for calendar year-end public business entities) and recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. Upon adoption, we currently expect to elect the practical expedients allowed under the guidance and retain the original lease classification and historical accounting for initial direct costs for leases existing prior to the adoption date. We also expect that we will elect not to restate prior periods for the impact of the adoption of the new standard and will instead recognize a cumulative-effect adjustment to beginning retained earnings in the period of adoption. These standards are expected to result in the recognition of right-to-use assets and related liabilities to account for our future obligations under the ground lease arrangements for which we are the lessee. We expect to recognize right of use assets and corresponding liabilities of approximately $2.0 million to approximately $5.0 million during the first quarter of 2019. In August 2017, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities In February 2017, the FASB issued ASU 2017-05, Other Income-Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20). Nonmonetary Transactions In January 2017, the FASB issued ASU 2017-01, Business Combinations – Clarifying the Definition of a Business (Topic 805). In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments In May 2016, the FASB issued ASU No. 2016-12, Revenue from Contracts with Customers – Narrow-Scope Improvements and Practical Expedients (Topic 606) Revenue from Contracts with Customers (Topic 606) In April 2016, the FASB issued ASU No. 2016-10 , Revenue from Contracts with Customers – Identifying Performance Obligations and Licensing (Topic 606) Revenue from Contracts with Customers (Topic 606) In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) In July 2018, Financial Accounting Standards Board (“FASB”) issued ASU No. 2018-11, Leases (Topic 842): Targeted Improvements, The FASB decided to provide another transition method and practical expedients in addition to the existing transition method (a modified retrospective approach for leases that exist or are entered into after the beginning of the earliest comparative period in the financial statements) by allowing entities to initially apply the new leases standard at the adoption date (such as January 1, 2019, for calendar year-end public business entities) and recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. Upon adoption, we currently expect to elect the practical expedients allowed under the guidance and retain the original lease classification and historical accounting for initial direct costs for leases existing prior to the adoption date. We also expect that we will elect not to restate prior periods for the impact of the adoption of the new standard and will instead recognize a cumulative-effect adjustment to beginning retained earnings in the period of adoption. These standards are expected to result in the recognition of right-to-use assets and related liabilities to account for our future obligations under the ground lease arrangements for which we are the lessee. We expect to recognize right of use assets and corresponding liabilities of approximately during the first quarter of 2019. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606)

Acquisition of Hotel Properties

Acquisition of Hotel Properties	12 Months Ended
	Dec. 31, 2018
Business Combinations And Or Asset Acquisitions [Abstract]
Acquisition of Hotel Properties	3. Acquisition of Hotel Properties Hyde Resort & Residences. On March 1, 2018, we acquired the Hyatt Centric Arlington hotel, for a total fair value of consideration transferred including inventory and other assets of approximately $79.7 million (after amendment of the initial purchase price of $81.0 million). We considered this acquisition to be an asset acquisition as opposed to a business combination, applying the screen test, as discussed in the Accounting Standards Update 2017-01 – Business Combinations – Clarifying the Definition of a Business (Topic 805). The results of operations of the hotels are included in our consolidated financial statements from the date of acquisition. The total revenue and net income related to the Hyatt Centric Arlington acquisition for the period March 1, 2018 to December 31, 2018 are approximately $18.1 million and $0.8 million, respectively. Hyde Resort & Residences. On January 30, 2017, we acquired the hotel commercial condominium unit of the Hyde Resort & Residences condominium hotel, for a total fair value of consideration transferred including inventory and other assets of approximately $4.8 million. The total revenue and net income related to the Hyde Resort & Residences acquisition for the period January 1, 2018 to December 31, 2018 are approximately $6.7 million and $0.1 million, respectively and total revenue and net loss for the period January 30, 2017 to December 31, 2017 are approximately $4.0 million and $(0.7) million, respectively. The allocation of the purchase price based on their fair values was as follows: Hyatt Centric Arlington Hyde Resort & Residences Land and land improvements $ 190,916 $ 500 Buildings and improvements 70,369,046 4,309,500 Furniture, fixtures and equipment 6,229,888 72,616 Favorable lease and other intangible assets 3,054,812 — Investment in hotel properties 79,844,662 4,382,616 Accrued liabilities and other costs (111,946 ) (866,142 ) Prepaid expenses, inventory and other assets — 470,375 Net cash $ 79,732,716 $ 3,986,849

Investment in Hotel Properties,

Investment in Hotel Properties, Net	12 Months Ended
	Dec. 31, 2018
Real Estate [Abstract]
Investment in Hotel Properties, Net	4. Investment in Hotel Properties, Net Investment in hotel properties as of December 31, 2018 and 2017 consisted of the following: December 31, 2018 December 31, 2017 Land and land improvements $ 64,409,730 $ 59,504,625 Buildings and improvements 424,657,327 348,532,577 Furniture, fixtures and equipment 57,830,987 48,467,956 546,898,044 456,505,158 Less: accumulated depreciation and impairment (111,172,230 ) (98,705,646 ) Investment in Hotel Properties, Net $ 435,725,814 $ 357,799,512 Our review of possible impairment during the years ended December 31, 2018, 2017 and 2016, resulted in no impairment on our investment in hotel properties, respectively.

Debt

Debt	12 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
Debt	5. Debt Mortgage Loans, Net. As of December 31, 2018 and 2017, we had approximately $364.8 million and approximately $297.3 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 2018 2017 Penalties Date Provisions Rate Crowne Plaza Tampa Westshore (1) $ 18,307,000 $ 15,284,200 None 6/30/2019 (1) LIBOR plus 3.75 % The DeSoto (2) 33,824,350 34,645,929 Yes 7/1/2026 25 years 4.25% DoubleTree by Hilton Jacksonville Riverfront (3) 34,773,546 35,294,741 Yes 7/11/2024 30 years 4.88% DoubleTree by Hilton Laurel (4) 8,845,299 9,132,558 Yes 8/5/2021 25 years 5.25% DoubleTree by Hilton Philadelphia Airport (5) 42,026,986 30,432,260 None 7/31/2023 30 years LIBOR plus 2.27 % DoubleTree by Hilton Raleigh- Brownstone University (6) 18,300,000 14,503,925 Yes 7/27/2022 (6) LIBOR plus 4.00 % DoubleTree Resort by Hilton Hollywood Beach (7) 57,064,824 58,023,567 n/a 10/1/2025 30 years 4.913% Georgian Terrace (8) 44,202,968 45,032,662 n/a 6/1/2025 30 years 4.42% Hotel Ballast Wilmington, Tapestry Collection by Hilton (9) 34,236,104 30,000,000 Yes 1/1/2027 25 years 4.25% Hyatt Centric Arlington (10) 49,885,045 — Yes 9/18/2028 30 years 5.25% Sheraton Louisville Riverside (11) 11,414,300 11,701,930 Yes 12/1/2026 25 years 4.27% The Whitehall (12) $ 14,733,458 15,000,000 Yes 2/26/2023 25 years LIBOR plus 3.50 % Total Mortgage Principal Balance $ 367,613,880 $ 299,051,772 Deferred financing costs, net (2,951,327 ) (1,923,928 ) Unamortized premium on loan $ 166,292 190,972 Total Mortgage Loans, Net $ 364,828,845 $ 297,318,816 (1) The note bears a floating interest rate of 1-month LIBOR plus 3.75% subject to a floor rate of 3.75%; with monthly principal payments of $23,100; the note provides that the mortgage can be extended for two additional periods of one year each, subject to certain conditions. (2) The note amortizes on a 25-year schedule after an initial 1-year interest-only period (which expired in August 2017), and is subject to a pre-payment penalty except for any pre-payments made within 120 days of the maturity date. (3) The note may not be prepaid until August 2019, after which it is subject to a pre-payment penalty until March 2024. Prepayment can be made without penalty thereafter. (4) The note is subject to a pre-payment penalty until April 2021 . Prepayment can be made without penalty thereafter. (5) The note bears a floating interest rate of 1-month LIBOR plus 2.27%, but we entered into a swap agreement to fix to the rate at 5.237%. Under the swap agreement, notional amounts approximate the declining balance of the loan and we are responsible for any potential termination fees associated with early termination of the swap agreement. (6) The note provides initial proceeds of $18.3 million, with an additional $5.2 million available upon the satisfaction of certain conditions; has an initial term of 4 years with a 1-year extension; bears a floating interest rate of the 1-month LIBOR plus 4.00%; requires interest only monthly payments; and following a 12-month lockout, can be prepaid with penalty in year 2 and without penalty thereafter. We entered into an interest-rate cap agreement to limit our exposure through August 1, 2022 to increases in LIBOR exceeding 3.25% on a notional amount of $23,500,000. (7) With limited exception, the note may not be prepaid until June 2025. (8) With limited exception, the note may not be prepaid until February 2025. (9) The note amortizes on a 25-year schedule after an initial 1-year interest-only period, and is subject to a pre-payment penalty except for any pre-payments made within 120 days of the maturity date. (10) Following a 5-year lockout, the note can be prepaid with penalty in years 6-10 and without penalty during the final 4 months of the term. (11) The note bears a fixed interest rate of 4.27% for the first 5 years of the loan, with an option for the lender to reset the interest rate after 5 years. (12) The note bears a floating interest rate of the 1-month LIBOR plus 3.5%, subject to a floor rate of 4.0% and is subject to prepayment penalties subject to a declining scale from 3.0% penalty on or before the first anniversary date, a 2.0% penalty during the second anniversary year and a 1.0% penalty after the third anniversary date. At December 31, 2018, we were in compliance with all debt covenants, current on all loan payments and not otherwise in default under any of our mortgage loans, with the exception of the mortgage on the Crowne Plaza Tampa Westshore. At December 31, 2018, we failed to meet the Debt Service Coverage Ratio (“DSCR”) covenant under the mortgage of the Crowne Plaza Tampa Westshore. We are currently in discussions with the existing lender to modify or refinance the mortgage on similar terms, with an extension of the maturity date and a reduced DSCR requirement. Notwithstanding the modification discussions, the existing loan agreement contains a balancing provision that allows us to either pay down the principal balance of the loan or offer cash collateral sufficient to meet the DSCR requirement with which we will comply in the event a modification or refinance cannot be executed. Total future mortgage debt maturities, without respect to any extension of loan maturity, as of December 31, 2018 were as follows: December 31, 2019 $ 24,301,062 December 31, 2020 6,161,782 December 31, 2021 14,362,532 December 31, 2022 24,752,732 December 31, 2023 60,594,053 December 31, 2024 and thereafter 237,441,719 Total future maturities $ 367,613,880 Unsecured Notes 7.0% Unsecured Notes. On November 21, 2014, the Operating Partnership issued its 7% Notes in the aggregate amount of $25.3 million. The indenture required quarterly payments of interest and was to mature on November 15, 2019. The 7% Notes were redeemed on November 15, 2017 at 101% of face value. 7.25% Unsecured Notes. On February 12, 2018, the Company and the Operating Partnership closed on a sale and issuance by the Operating Partnership of an aggregate $25.0 million of the 7.25% Notes, unconditionally guaranteed by the Company, for net proceeds after all estimated expenses of approximately $23.3 million. The Operating Partnership used the net proceeds from this offering, together with existing cash on hand and $57.0 million of asset-level mortgage indebtedness, to finance the Arlington Acquisition and for working capital

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2018
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	6. Commitments and Contingencies Ground, Building and Submerged Land Leases – We lease 2,086 square feet of commercial space next to the 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 third 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, 2018, 2017, and 2016 was each $72,984, respectively. We lease, as landlord, the entire fourteenth floor of the Savannah hotel property to The Chatham Club, Inc. under a ninety-nine year lease expiring July 31, 2086. This lease was assumed upon the purchase of the building under the terms and conditions agreed to by the previous owner of the property. No rental income is recognized under the terms of this lease as the original lump sum rent payment of $990 was received by the previous owner and not prorated over the life of the lease. We lease land adjacent to the Crowne Plaza Tampa Westshore for use as parking under a five-year renewable 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 each of the years ended December 31, 2018, 2017, and 2016 was $2,602, respectively. We lease 5,216 square feet of commercial office space in Williamsburg, Virginia under an agreement, as amended, that commenced September 1, 2009 and extended to August 31, 2019. Rent expense for the years ended December 31, 2018, 2017, and 2016 was $96,117, $90,208 and $91,003, respectively. We lease the parking garage adjacent to the Hyde Resort & Residences, along with meeting and office space, in Hollywood Beach, Florida. The parking garage and meeting space is leased under a 20-year operating lease requiring monthly payments of $20,000, which expires in February 2037. Rent expense for the years ending December 31, 2018 and 2017 totaled $240,000 and $220,000, respectively. We lease the land underlying all of the Hyatt Centric Arlington hotel pursuant to a ground lease. The ground lease requires us to make rental payments of $50,000 per year in base rent and percentage rent equal to 3.5% of gross room revenue in excess of certain thresholds, as defined in the ground lease agreement. The initial term of the ground lease expires in 2025 and may be extended by us for five additional renewal periods of 10 years each. Rent expense for the twelve months ended December 31, 2018 was $524,490. We also lease certain furniture and equipment under financing arrangements expiring by October 2019. A schedule of minimum future lease payments for the following twelve-month periods is as follows: December 31, 2019 475,343 December 31, 2020 364,163 December 31, 2021 354,639 December 31, 2022 351,464 December 31, 2023 351,464 December 31, 2024 and thereafter 3,568,701 Total $ 5,465,774 Employment Agreements — The Company has entered into various employment contracts with employees that could result in obligations to us in the event of a change in control or termination without cause. Management Agreements – As of December 31, 2018, the Hyatt Centric Arlington hotel operated under a management agreement with Highgate Hotels L.P. The management agreement has an initial term of three years expiring March 1, 2021. As of December 31, 2018, each of our wholly-owned hotels and the rental program and condominium association of the Hyde Resort & Residences operated under a management agreement with Chesapeake Hospitality (see Note 9). The management agreements expire between January 1, 2020 and January 30, 2022, and may be extended for up to two additional periods of five years each subject to the approval of both parties. Each of the individual hotel management agreements may be terminated earlier than the stated term upon the sale of the hotel covered by the respective management agreement, in which case we may incur early termination fees. Franchise Agreements – As of December 31, 2018, most of our hotels operate under franchise licenses from national hotel companies. Under the franchise agreements, we are required to pay a franchise fee generally between 3.0% and 5.0% of room revenues, plus additional fees for marketing, central reservation systems, and other franchisor programs and services that amount to between 3.0% and 4.0% of gross revenues from the hotels. The franchise agreements currently expire between June 2019 and October 2030. On April 12, 2016 we allowed the franchise agreement on the Crowne Plaza Houston Downtown to expire. The property has been rebranded as The Whitehall. On July 31, 2017, we allowed the franchise agreement on the Hilton Savannah DeSoto to expire. The property has been rebranded as The DeSoto and operates as an independent hotel. Each of our franchise agreements provides for early termination fees in the event the agreement is terminated before the stated term. Restricted Cash Reserves – Each month, we are required to escrow with the lenders on the Hotel Ballast Wilmington, Tapestry Collection by Hilton, The DeSoto, the DoubleTree by Hilton Raleigh Brownstone-University, the DoubleTree by Hilton Jacksonville Riverside, the DoubleTree Resort by Hilton Hollywood Beach 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 our lenders to establish individual property improvement funds to cover the cost of replacing capital assets at our properties. Each month, those contributions equal 4.0% of gross revenues for The DeSoto, the Hotel Ballast Wilmington, Tapestry Collection by Hilton, the DoubleTree by Hilton Jacksonville Riverside, the DoubleTree Resort by Hilton Hollywood Beach, DoubleTree by Hilton Raleigh Brownstone–University, the Whitehall and the Georgian Terrace and equal 4.0% of room revenues for the DoubleTree by Hilton Philadelphia Airport and the Hyatt Centric Arlington. ESOP Loan Commitment – The Company’s board of directors approved the ESOP on November 29, 2016, which was adopted by the Company in December 2016 and effective January 1, 2016. The ESOP is a non-contributory defined contribution plan covering all employees of the Company. The ESOP is a leveraged ESOP, meaning the contributed funds are loaned to the ESOP from the Company. The Company entered into a loan agreement with the ESOP on December 29, 2016, pursuant to which the ESOP may borrow up to $5.0 million to purchase shares of the Company’s common stock on the open market. Under the loan agreement, the aggregate principal amount outstanding at any time may not exceed $5.0 million and the ESOP may borrow additional funds up to that limit in the future, until December 29, 2036. 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.

Preferred Stock and Units

Preferred Stock and Units	12 Months Ended
	Dec. 31, 2018
Preferred Stock And Units [Abstract]
Preferred Stock and Units	7. Preferred Stock and Units Preferred Stock - The Company is authorized to issue up to 11,000,000 shares of preferred stock. As of December 31, 2018 and 2017, there were each 1,610,000 shares of the Series B Preferred Stock issued and outstanding. As of December 31, 2018 and 2017, there were 1,352,141 and 1,300,000 shares, respectively, of the Series C Preferred Stock issued and outstanding. On August 31, 2018, we entered into a Sales Agency Agreement, with Sandler O’Neill, under which the Company may sell from time to time through Sandler O’Neill, as sales agent, up to 400,000 shares of the Company’s 7.875% Series C Cumulative Redeemable Preferred Stock, $0.01 par value per share. Through the twelve months ended December 31, 2018, the Company sold 52,141 shares of Series C Preferred Stock, for net proceeds of approximately $1.0 million. In October 2017, the Company issued 1,300,000 shares of Series C Preferred Stock, for net proceeds after all estimated expenses of approximately $30.5 million. The Company contributed the net proceeds from the offering to its Operating Partnership for an equivalent number of Series C Preferred Units. Holders of the Company’s Series C Preferred Stock are entitled to receive distributions when authorized by the Company’s board of directors out of assets legally available for the payment of distributions. The Company pays cumulative cash distributions on the Series C Preferred Stock at a rate of 7.875% per annum of the $25.00 liquidation preference per share. The Series C Preferred Stock is not redeemable by the holders, has no maturity date and is not convertible into any other security of the Company or its affiliates. On August 23, 2016, the Company issued 1,610,000 shares, $0.01 par value per share, of its Series B Preferred Stock for net proceeds after all expenses of approximately $37.8 million, which it contributed to the Operating Partnership for an equivalent number of preferred partnership units. Holders of the Company’s Series B Preferred Stock are entitled to receive distributions when authorized by the Company’s board of directors out of assets legally available for the payment of distributions. The Company pays cumulative cash distributions on the Series B Preferred Stock at a rate of 8.00% per annum of the $25.00 liquidation preference per share. The Series B Preferred Stock is not redeemable by the holders, has no maturity date and is not convertible into any other security of the Company or its affiliates. Preferred Units – The Company is the holder of the Operating Partnership’s preferred partnership units and is entitled to receive distributions when authorized by our board of directors out of assets legally available for the payment of distributions. In September and December 2018, the Operating Partnership issued 52,141 units of 7.875% Series C Preferred Units, for net proceeds after all estimated expenses of approximately $1.0 million. In October 2017, the Operating Partnership issued 1,300,000 units of 7.875% Series C Preferred Units, for net proceeds after all estimated expenses of approximately $30.5 million. The Operating Partnership used the net proceeds to redeem in full the Operating Partnership’s 7% Notes and for working capital. On August 23, 2016, the Operating Partnership issued 1,610,000 0.01 8 37.8 The Operating Partnership pays cumulative cash dividends on the Series B Preferred Units and Series C Preferred Units at a rate of 8.00% and 7.875%, respectively per annum for each of the $25.00 liquidation preferences per unit. The Operating Partnership declared and paid per Series B Preferred Units and Series C Preferred Units as follows: The following table presents the quarterly distributions by the Operating Partnership declared and payable per Quarter Ended 2016 2017 2018 March 31, $ — $ 0.50 $ 0.50 June 30, $ — $ 0.50 $ 0.50 September 30, $ 0.2111 (1) $ 0.50 $ 0.50 December 31, $ 0.50 $ 0.50 $ 0.50 (1) For the short period from August 23, 2016 to September 30, 2016. The following table presents the quarterly distributions by the Operating Partnership declared and payable per Series C Preferred Unit and dividends by the Company declared and payable per share of Series C Preferred Stock, for the years ended December 31, 2018, 2017, and 2016: Quarter Ended 2016 2017 2018 March 31, $ — $ — $ 0.4922 June 30, $ — $ — $ 0.4922 September 30, $ — $ — $ 0.4922 December 31, $ — $ 0.4430 (2) $ 0.4922 (1) (2) For the short period from October 11, 2017 to December 31, 2017.

Common Stock and Units

Common Stock and Units	12 Months Ended
	Dec. 31, 2018
Equity [Abstract]
Common Stock and Units	8. Common Stock and Units 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. On December 2, 2016, the Company’s Board of Directors authorized a stock repurchase program under which the Company may purchase up to $10.0 million of its outstanding common stock, par value $0.01 per share, at prevailing prices on the open market or in privately negotiated transactions, at the discretion of management. The Company has and expects to continue to use available working capital to fund purchases under the stock repurchase program and intends to complete the repurchase program prior to December 31, 2019, unless extended by the Board of Directors. For the years ended December 31, 2018, 2017 and 2016 the Company repurchased zero, 401,720 and 481,100 shares of common stock, respectively, for approximately $2.7 million and $3.2 million, respectively, and the repurchased shares have been returned to the status of authorized but unissued shares of common stock. The following is a list of issuances during the years ended December 31, 2018, 2017, and 2016 of the Company’s common stock: On August 31, 2018, we entered into a Sales Agency Agreement, with Sandler O’Neill, under which the Company may sell from time to time through Sandler O’Neill, as sales agent, shares of the Company’s common stock, par value $0.01 per share, having an aggregate gross sales price of up to $5,000,000. Through December 31, 2018, the Company sold 88,297 shares of common stock, for net proceeds of approximately $0.6 million. On February 5, 2018, the Company was issued 17,250 units in the Operating Partnership and awarded 15,000 shares of restricted stock and 2,250 shares of unrestricted stock to its independent directors. On January 1, 2018, the Company was issued 25,000 units in the Operating Partnership and awarded 25,000 shares of restricted stock to one of its employees. On February 15, 2017, the Company was issued 12,000 units in the Operating Partnership and awarded 12,000 shares of restricted stock to its independent directors. On February 2, 2016, the Company was issued 36,250 units in the Operating Partnership and awarded an aggregate of 22,000 shares of unrestricted stock to certain executives and employees as well as 12,000 shares of restricted stock and 2,250 shares of unrestricted stock to certain of its independent directors. 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. As of December 31, 2018 and 2017, the Company had 14,209,378 and 14,078,831 shares of common stock outstanding, respectively. Operating Partnership Units – Holders of Operating Partnership units, other than the Company as general partner, have certain redemption rights, which enable them to cause the Operating Partnership to redeem their units in exchange for shares of the Company’s common stock on a one-for-one basis or, at the option of the Company, cash per unit equal to the average of the market price of the Company’s common stock for the 10 trading days immediately preceding the notice date of such redemption. The number of shares issuable upon exercise of the redemption rights will be adjusted upon the occurrence of stock splits, mergers, consolidations or similar pro-rata share transactions, which otherwise would have the effect of diluting the ownership interests of the limited partners or the stockholders of the Company. For the years ended December 31, 2018, 2017 and 2016, the Operating Partnership for approximately$0, $2.7 million and $3.2 million, respectively, . As of December 31, 2018 and 2017, the total number of Operating Partnership units outstanding was 15,987,518 and 15,856,971, respectively. As of December 31, 2018 and 2017, the total number of outstanding units in the Operating Partnership not owned by the Company was 1,778,140 and 1,778,140, respectively, with a fair market value of approximately $10.0 million and approximately $11.5 million, respectively, based on the price per share of the common stock on such respective dates. Common Stock Dividends and Unit Distributions – The following table presents the quarterly stock dividends and unit distributions by us declared and payable per common stock/unit for the years ended December 31, 2018, 2017, and 2016: Quarter Ended 2016 2017 2018 March 31, $ 0.085 $ 0.100 $ 0.115 June 30, $ 0.090 $ 0.105 $ 0.120 September 30, $ 0.095 $ 0.110 $ 0.125 December 31, $ 0.095 $ 0.110 $ 0.125

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2018
Related Party Transactions [Abstract]
Related Party Transactions	9. Related Party Transactions Chesapeake Hospitality. Chesapeake Hospitality is owned and controlled by individuals including Andrew M. Sims, our chairman and chief executive officer, and Kim E. Sims and Christopher L. Sims, each a former director of Sotherly and immediate family member of our chairman and chief executive officer. As of December 31, 2018, Andrew M. Sims, Kim E. Sims and Christopher L. Sims, beneficially owned, directly or indirectly, approximately 19.3375%, 20.0%, and 20.0%, respectively, of the total outstanding ownership interests of Chesapeake Hospitality. Kim E. Sims and Christopher L. Sims are currently officers and employees of Chesapeake Hospitality. The following is a summary of the transactions between Chesapeake Hospitality and us: Accounts Receivable – At December 31, 2018 and 2017, we were due $91,987 and $113,669, respectively, from Chesapeake Hospitality. Management Agreements – Each of the hotels and the hotel condominium unit, except for the Hyatt Centric Arlington, that we wholly-owned at December 31, 2018 and 2017, are operated by Chesapeake Hospitality under various management agreements. 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 Whitehall and the Georgian Terrace remained at 2.00% through 2015, increased to 2.25% in 2016 and increased to 2.50% thereafter. The base management fees for the remaining properties in the current portfolio were 2.65% through 2017 and decreased 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 $4,617,471, $4,044,059 and $3,828,896 for the years ended December 31, 2018, 2017, and 2016, respectively. In addition, incentive management fees of $168,231, $126,918 and $36,466 were accrued for the years ended December 31, 2018, 2017, and 2016, respectively. Employee Medical Benefits – We purchase employee medical benefits through Maryland Hospitality, Inc. (d/b/a MHI Health), an affiliate of Chesapeake Hospitality for 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 $5,050,304, $4,801,599 and $4,606,967 for the years ended December 31, 2018, 2017, and 2016, respectively. Workers’ Compensation Insurance – Pursuant to our management agreements with Chesapeake Hospitality, we pay the premiums for workers’ compensation insurance under a self-insured policy owned by Chesapeake Hospitality or its affiliates, and which covers those employees of Chesapeake Hospitality that work exclusively for the properties managed by Chesapeake Hospitality. For the years ended December 31, 2018, 2017, and 2016, we paid $919,642, $1,017,294 and $0, respectively, in premiums for the portion of the plan covering those employees that work exclusively for our properties under our management agreements with Chesapeake Hospitality. 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, 2018 and 2017, the balance of the loan was $0 and $40,000, respectively. Other Related Parties – 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 manager. Compensation for the years ended December 31, 2018, 2017, and 2016 totaled $386,456, $304,737 and $291,508, respectively, for the three individuals. On February 1, 2016, one current member of our Board of Directors redeemed 322,687 units for an equivalent number of shares of the Company’s common stock, and one previous member of our Board of Directors redeemed 100,000 units for an equivalent number of shares of the Company’s common stock, pursuant to the terms of the partnership agreement. During the years ending December 31, 2018, 2017, and 2016, the Company reimbursed $146,105, $178,345 and $123,866, respectively, to a partnership controlled by the Chief Executive Officer for business-related air travel pursuant to the Company’s travel reimbursement policy.

Retirement Plans

Retirement Plans	12 Months Ended
	Dec. 31, 2018
Compensation And Retirement Disclosure [Abstract]
Retirement Plans	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, 2018, 2017, and 2016 were $71,623, $67,273 and $63,944, respectively. The Company adopted an ESOP in December 2016, effective January 1, 2016. The ESOP is a non-contributory defined contribution plan covering all employees of the Company. The Company sponsors and maintains the ESOP and related trust for the benefit of its eligible employees. The ESOP is a leveraged ESOP, meaning funds are loaned to the ESOP from the Company. The Company entered into a loan agreement with the ESOP on December 29, 2016, pursuant to which the ESOP may borrow up to $5.0 million to purchase shares of the Company’s common stock on the open market, which serve as collateral for the loan. Between January 3, 2017 and February 28, 2017, the Company’s ESOP purchased 682,500 shares of the Company’s common stock of an aggregate cost of $4.9 million. Shares purchased by the ESOP are held in a suspense account for allocation among participants. Dividends on allocated shares are paid to the participants of the ESOP, while dividends on unallocated shares are used to pay down the ESOP loan from the Operating Partnership. The share allocations are accounted for at fair value on the date of allocation as follows: December 31, 2018 December 31, 2017 Number of Shares Fair Value Number of Shares Fair Value Allocated shares 33,832 $ 189,798 9,473 $ 64,321 Committed to be released shares 35,474 199,007 24,359 157,117 Total Allocated and Committed-to-be-Released 69,306 $ 388,805 33,832 $ 221,438 Unallocated shares 613,194 3,440,020 648,668 4,183,908 Total ESOP Shares 682,500 $ 3,828,825 682,500 $ 4,405,346

Indirect Hotel Operating Expens

Indirect Hotel Operating Expenses	12 Months Ended
	Dec. 31, 2018
Other Income And Expenses [Abstract]
Indirect Hotel Operating Expenses	11. Indirect Hotel Operating Expenses Indirect hotel operating expenses consists of the following expenses incurred by the hotels: 2018 2017 2016 Sales and marketing $ 15,998,281 $ 13,843,578 $ 13,537,887 General and administrative 14,581,707 12,949,596 12,135,835 Repairs and maintenance 7,624,031 6,828,963 7,314,178 Utilities 6,266,192 5,820,589 6,429,686 Property taxes 6,225,508 5,729,464 5,983,280 Management fees, including incentive 4,785,702 4,170,977 3,865,362 Franchise fees 4,308,065 3,877,231 4,091,729 Insurance 2,894,708 2,446,269 2,594,783 Information and telecommunications 2,142,698 1,647,728 1,679,603 Other 818,608 297,808 104,594 Total indirect hotel operating expenses $ 65,645,500 $ 57,612,203 $ 57,736,937

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Income Taxes	12. Income Taxes The components of the provision for (benefit from) income taxes for the years ended December 31, 2018, 2017, and 2016 are as follows: Year Ended Year Ended Year Ended December 31, 2018 December 31, 2017 December 31, 2016 Current: Federal $ — $ — $ — State 149,410 239,582 191,332 149,410 239,582 191,332 Deferred: Federal 351,663 1,661,153 (1,294,408 ) State (31,724 ) (162,931 ) (264,558 ) 319,939 1,498,222 (1,558,966 ) $ 469,349 $ 1,737,804 $ (1,367,634 ) 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, 2018 December 31, 2017 December 31, 2016 Statutory federal income tax provision (benefit) $ (29,150 ) $ 600,880 $ (158,859 ) Effect of non-taxable REIT loss 380,813 (1,621,526 ) (1,135,549 ) Effect of change in federal income tax rate on net deferred tax assets - 2,681,800 - State income tax provision (benefit) 117,686 76,650 (73,226 ) $ 469,349 $ 1,737,804 $ (1,367,634 ) As of December 31, 2018 and 2017, we had a net deferred tax asset of approximately $5.1 million and $5.5 million, respectively, of which, approximately $4.4 million and $4.9 million, respectively, are due to accumulated net operating losses of our TRS Lessee. These loss carryforwards will begin to expire in 2028 if not utilized. As of December 31, 2018 and 2017, the remainder of the deferred tax asset is attributable to year-to-year timing differences of approximately $0.7 and $0.6 million for accrued, but not deductible, employee performance awards, vacation and sick pay, bad debt allowance and depreciation. At the end of the 2017 fiscal year, there was a one-time loss effect resulting from a change in the federal income tax rate, due to the TCJA, on the net deferred tax assets which resulted in lowering deferred tax assets in the amount of approximately $2.7 million. We record a valuation allowance to reduce deferred tax assets to an amount that we believe is more likely than not to be realized. Because of expected future taxable income of our TRS Lessee, we have not recorded a valuation allowance to reduce our net deferred tax asset as of December 31, 2018. We regularly evaluate the likelihood that our TRS Lessee will be able to realize its deferred tax assets and the continuing need for a valuation allowance. At December 31, 2018, we determined, based on all available positive and negative evidence, that it is more-likely-than-not that future taxable income will be available during the carryforward periods to absorb all of the consolidated federal and state net operating loss carryforward of our TRS Lessee. A number of factors played a critical role in this determination, including: • a demonstrated track record of past profitability and utilization of past NOL carryforwards, • reasonable forecasts of future taxable income, and • anticipated changes in the lease rental payments from the TRS Lessee to subsidiaries of the Operating Partnership. At December 31, 2018, we determined, based on all available positive and negative evidence, that it is more-likely-than-not that future taxable income will be available during the carryforward periods to absorb all of the consolidated federal and state net operating loss carryforward.

Loss per Share and per Unit

Loss per Share and per Unit	12 Months Ended
	Dec. 31, 2018
Earnings Per Share [Abstract]
Loss per Share and per Unit	13. Loss per Share and per Unit Loss Per Share . The limited partners’ outstanding limited partnership units in the Operating Partnership (which may be redeemed for common stock upon notice from the limited partner and following our election to redeem the units for stock rather than cash) have been excluded from the diluted earnings per share calculation as there would be no effect on the amounts since the limited partners’ share of income would also be added back to net loss. The shares of the Series B Preferred Stock and Series C Preferred Stock are not convertible into or exchangeable for any other property or securities of the Company, except upon the occurrence of a change of control and have been excluded from the diluted earnings per share calculation as there would be no impact on the current controlling stockholders. The 613,194 and 648,668 non-committed, unearned ESOP shares are treated as reducing the number of issued and outstanding common shares and similarly reducing the weighted average number of common shares outstanding, for the years ended December 31, 2018 and 2017, respectively. The effect of allocated and committed to be released shares during the years ended December 31, 2018 and 2017, have not been included in the weighted average diluted earnings per share calculation, since there would be an anti-dilutive effect from the dilution by these shares, although the amount of compensation for allocated shares is reflected in net loss available to common stockholders for basic computation. There are no ESOP units, therefore there is no dilution on the calculation of earnings per unit. The computation of basic net loss per share is presented below. Year Ended Year Ended Year Ended December 31, 2018 December 31, 2017 December 31, 2016 Numerator Net loss available to common stockholders for basic and diluted computation $ (5,719,978 ) $ (3,339,136 ) $ (218,173 ) Denominator Weighted average number of common shares outstanding 14,145,838 14,445,865 14,896,994 Weighted average number of Unearned ESOP Shares (628,350 ) (616,765 ) - Total weighted average number of common shares outstanding for basic computation 13,517,488 13,829,100 14,896,994 Basic net loss per share $ (0.42 ) $ (0.24 ) $ (0.01 ) 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, 2018 December 31, 2017 December 31, 2016 Numerator Net loss available to common unitholders for basic computation $ (6,438,071 ) $ (3,752,150 ) $ (244,740 ) Denominator Weighted average number of units outstanding 15,923,978 16,224,005 16,710,935 Basic net loss per unit $ (0.40 ) $ (0.23 ) $ (0.01 )

Quarterly Operating Results - U

Quarterly Operating Results - Unaudited	12 Months Ended
	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Quarterly Operating Results - Unaudited	14. Quarterly Operating Results - Unaudited Quarters Ended 2018 March 31 June 30 September 30 December 31 Total revenue $ 41,735,556 $ 51,553,527 $ 41,418,062 $ 43,465,976 Total operating expenses 37,041,269 42,275,569 38,298,919 40,451,053 Net operating income 4,694,287 9,277,958 3,119,143 3,014,923 Net income (loss) 1,176,488 2,967,589 (1,981,780 ) (2,770,454 ) Net income (loss) attributable to common shareholders (238,343 ) 1,352,414 (3,065,883 ) (3,768,166 ) Earnings (loss) per share attributable to common shareholders– basic and diluted $ (0.02 ) $ 0.10 $ (0.23 ) $ (0.28 ) Net income (loss) available to operating partnership unitholders (268,356 ) 1,522,745 (3,451,499 ) (4,240,961 ) Earnings (loss) per unit attributable to operating partnership unitholders– basic and diluted $ (0.02 ) $ 0.10 $ (0.22 ) $ (0.27 ) Quarters Ended 2017 March 31 June 30 September 30 December 31 Total revenue $ 38,694,886 $ 40,642,632 $ 36,769,471 $ 38,159,704 Total operating expenses 32,989,182 35,178,717 34,595,193 35,339,712 Net operating income 5,705,704 5,463,915 2,174,278 2,819,992 Net income(loss) 2,886,032 1,135,719 (936,000 ) (3,056,262 ) Net income (loss) attributable to common shareholders 1,851,090 296,850 (1,550,555 ) (3,936,522 ) Earnings (loss) per share attributable to common shareholders– basic and diluted $ 0.13 $ 0.02 $ (0.11 ) $ (0.29 ) Net income (loss) available to operating partnership unitholders 2,100,958 310,795 (1,741,000 ) (4,422,903 ) Earnings (loss) per unit attributable to operating partnership unitholders– basic and diluted $ 0.13 $ 0.02 $ (0.11 ) $ (0.27 )

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2018
Subsequent Events [Abstract]
Subsequent Events	15. Subsequent Events On January 11, 2019, we paid a quarterly dividend (distribution) of $0.125 per common share (and unit) to those stockholders (and unitholders of the Operating Partnership) of record on December 14, 2018. On January 15, 2019, we paid a quarterly dividend (distribution) of $0.50 per Series B Preferred Stock (and unit) to the preferred stockholders (and unitholders of the Operating Partnership) of record on December 31, 2018. On January 15, 2019, we paid a quarterly dividend (distribution) of $0.4922 per Series C Preferred Stock (and unit) to the preferred stockholders (and unitholders of the Operating Partnership) of record on December 31, 2018. On January 28, 2019, we authorized payment of a quarterly dividend (distribution) of $0.125 per common share (and unit) to the stockholders (and unitholders of the Operating Partnership) of record as of March 15, 2019. The dividend (distribution) is to be paid on April 11, 2019. On January 28, 2019, we authorized payment of a quarterly dividend of $0.50 per Series B Preferred Share (and unit) to the preferred stockholders (and unitholders of the Operating Partnership) of record as of April 1, 2019. The dividend is to be paid on April 15, 2019. On January 28, 2019, we authorized payment of a quarterly dividend of $0.4922 per Series C Preferred Share (and unit) to the preferred stockholders (and unitholders of the Operating Partnership) of record as of April 1, 2019. The dividend is to be paid on April 15, 2019.

Schedule III - Real Estate and

Schedule III - Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2018
Real Estate And Accumulated Depreciation Disclosure [Abstract]
Schedule III - Real Estate and Accumulated Depreciation	SOTHERLY HOTELS INC. SOTHERLY HOTELS LP AS OF DECEMBER 31, 2018 (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 Tampa Westshore – Tampa, Florida 18,307 $ 4,153 $ 9,670 $ 654 $ 26,553 $ 4,807 $ 36,223 $ 41,030 $ (10,060 ) 1973 2007 3-39 years The DeSoto – Savannah, Georgia 33,824 600 13,562 668 17,656 1,268 31,218 32,486 (10,347 ) 1968 2004 3-39 years DoubleTree by Hilton Jacksonville Riverfront – Jacksonville, Florida 34,774 7,090 14,604 157 7,378 7,247 21,982 29,229 (7,554 ) 1970 2005 3-39 years DoubleTree by Hilton Laurel – Laurel, Maryland 8,845 900 9,443 65 5,695 965 15,138 16,103 (4,744 ) 1985 2004 3-39 years DoubleTree by Hilton Philadelphia Airport – Philadelphia, Pennsylvania 42,027 2100 22,031 390 6,118 2,490 28,149 30,639 (10,090 ) 1972 2004 3-39 years DoubleTree by Hilton Raleigh Brownstone – University – Raleigh, North Carolina 18,300 815 7,416 3,814 6,265 4,629 13,681 18,310 (5,859 ) 1971 2004 3-39 years DoubleTree Resort by Hilton Hollywood Beach - Hollywood Beach, Florida 57,065 22,865 67,660 439 3,117 23,304 70,777 94,081 (6,353 ) 1972 2015 3-39 years Georgian Terrace – Atlanta, Georgia 44,203 10,128 45,386 (1,305 ) 5,641 8,823 51,027 59,850 (6,735 ) 1911 2014 3-39 years Hilton Wilmington Riverside – Wilmington, North Carolina 34,236 785 16,829 1,124 14,278 1,909 31,107 33,016 (11,854 ) 1970 2004 3-39 years Hyatt Centric Arlington - Arlington, Virginia 49,885 191 70,369 — 477 191 70,846 71,037 (1,521 ) 2018 3-39 years Sheraton Louisville Riverside – Jeffersonville, Indiana 11,414 782 6,891 289 14,738 1,071 21,629 22,700 (6,314 ) 1972 2006 3-39 years The Whitehall – Houston, Texas 14,734 7,374 22,185 106 6,405 7,480 28,590 36,070 (4,013 ) 1963 2013 3-39 years The Hyde Resort - 226 4,290 - - 226 4,290 4,516 (211 ) 2016 2017 3-39 years $ 367,614 $ 58,009 $ 310,336 $ 6,401 $ 114,321 $ 64,410 $ 424,657 $ 489,067 $ (85,655 ) (1) RECONCILIATION OF REAL ESTATE AND ACCUMULATED DEPRECIATION RECONCILIATION OF REAL ESTATE Balance at December 31, 2016 $ 402,189 Acquisitions 4,516 Improvements 13,713 Disposal of Assets (12,381 ) Balance at December 31, 2017 $ 408,037 Acquisitions 71,037 Improvements 14,355 Disposal of Assets (4,362 ) Balance at December 31, 2018 $ 489,067 RECONCILIATION OF ACCUMULATED DEPRECIATION Balance at December 31, 2016 $ 68,506 Current Expense 9,933 Impairment — Disposal of Assets (3,328 ) Balance at December 31, 2017 $ 75,111 Current Expense 14,787 Impairment — Disposal of Assets (4,243 ) Balance at December 31, 2018 $ 85,655

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2018
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. All significant inter-company balances and transactions have been eliminated. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. The consolidated financial statements of the Operating Partnership presented herein include all 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 on acquisition date and allocated to land, property and equipment and identifiable intangible assets. Replacements and improvements are capitalized, while repairs and maintenance are expensed as incurred. Upon the sale or retirement of a fixed asset, the cost and related accumulated depreciation are removed from our accounts and any resulting gain or loss is included in the statements of operations. Expenditures under a renovation project, which constitute additions or improvements that extend the life of the property, are capitalized. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, generally 7 to 39 years for buildings and building improvements and 3 to 10 years for furniture, fixtures and equipment. Leasehold improvements are amortized over the shorter of the lease term or the useful lives of the related assets. 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.
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.
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 monitors, on a regular basis, the financial condition of the financial institutions along with the balances there on deposit to minimize our potential risk.
Restricted Cash	Restricted Cash – Restricted cash includes real estate tax escrows, insurance escrows and reserves for replacements of furniture, fixtures and equipment pursuant to certain requirements in our various mortgage agreements.
Accounts Receivable	Accounts Receivable – Accounts receivable consists primarily of hotel guest, banqueting and credit card receivables. Ongoing evaluations of collectability are performed and an allowance for potential credit losses is provided against the portion of accounts receivable that is estimated to be uncollectible.
Inventories	Inventories – Inventories, consisting primarily of food and beverages, are stated at the lower of cost or net realizable value, with cost determined on a method that approximates first-in, first-out basis.
Franchise License Fees	Franchise License Fees – Fees expended to obtain or renew a franchise license are amortized over the life of the license or renewal. The unamortized franchise fees as of December 31, 2018 and 2017 were approximately $471,996 and $532,070, respectively. Amortization expense for the years ended December 31, 2018, 2017, and 2016 was $60,073, $46,209 and $52,330, respectively.
Deferred Financing and Offering Costs	Favorable Lease Assets, Net – Favorable lease assets are recorded on non-market contracts assumed as part of the acquisition of certain hotels. We review the terms of agreements assumed in conjunction with the purchase of a hotel to determine if the terms are favorable or unfavorable compared to an estimated market agreement at the acquisition date. Favorable lease assets are recorded at the acquisition date and amortized using straight-line method over the term of the remaining agreement. Amortization expense for the twelve-month periods ended December 31, 2018, 2017 and 2016 totaled $316,080, $0 and $0, 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 and are reflected in mortgage loans, net and unsecured notes, net on the consolidated balance sheets. Deferred offering costs are recorded at cost and consist of offering fees and other costs incurred in advance of issuing equity and are reflected in prepaid expenses, inventory and other assets on the consolidated balance sheets. Amortization of deferred financing costs is computed using a method that approximates the effective interest method over the term of the related debt and is included in interest expense in the consolidated statements of operations. Our deferred offering costs are applied pro-rata against the minimum anticipated proceeds of an equity offering. If the offering does not generate the minimum anticipated proceeds or is aborted then the excess will be included in corporate general and administrative expenses in the consolidated statements of operations. During the twelve months ended December 31, 2018, 2017 and 2016, the Company wrote off $0, approximately $0.5 million and $0 of deferred offering costs, respectively. As of December 31, 2018, there were no deferred offering costs included in prepaid expenses, inventory and other assets.
Favorable Lease Assets, Net	Favorable Lease Assets, Net – Favorable lease assets are recorded on non-market contracts assumed as part of the acquisition of certain hotels. We review the terms of agreements assumed in conjunction with the purchase of a hotel to determine if the terms are favorable or unfavorable compared to an estimated market agreement at the acquisition date. Favorable lease assets are recorded at the acquisition date and amortized using straight-line method over the term of the remaining agreement. Amortization expense for the twelve-month periods ended December 31, 2018, 2017 and 2016 totaled $316,080, $0 and $0, respectively.
Derivative Instruments	Derivative Instruments – Our derivative instruments are reflected as assets or liabilities on the consolidated balance sheet and measured at fair value. Derivative instruments used to hedge the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as an interest rate risk, are considered fair value hedges. Derivative instruments used to hedge exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. For a derivative instrument designated as a cash flow hedge, the change in fair value each period is reported in accumulated other comprehensive income in stockholders’ equity and partners’ capital to the extent the hedge is effective. For a derivative instrument designated as a fair value hedge, the change in fair value each period is reported in earnings along with the change in fair value of the hedged item attributable to the risk being hedged. For a derivative instrument that does not qualify for hedge accounting or is not designated as a hedge, the change in fair value each period is reported in earnings. We use derivative instruments to add stability to interest expense and to manage our exposure to interest-rate movements. To accomplish this objective, we currently use interest rate caps and an interest rate swap which act as cash flow hedges and are not designated as hedges. We value our interest-rate caps and interest rate swap at fair value, which we define as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). We also have used 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 assets and liabilities measured at fair value and the basis for that measurement (our interest rate caps and interest rate swap are the only assets or liabilities measured at fair value on a recurring basis and there were no non-recurring asset and liability fair value measurements as of December 31, 2018 and 2017, respectively): Level 1 Level 2 Level 3 December 31, 2017 Interest Rate Cap (1) $ — $ 5,213 $ — Interest Rate Swap (2) $ — $ — $ — Mortgage loans (3) $ — $ (292,368,370 ) $ — Unsecured notes (4) $ — $ — $ — December 31, 2018 Interest Rate Caps (1) $ — $ 94,697 $ — Interest Rate Swap (2) $ — $ (984,677 ) $ — Mortgage loans (3) $ — $ (357,279,949 ) $ — Unsecured notes (4) $ (25,390,000 ) $ — $ — (1) Interest rate caps, which caps the 1-month LIBOR (2) Interest rate swap, which takes the Loan Rate and swaps it for a fixed interest rate of 5.237%; notional amounts of the swap approximate the declining balance of the loan. (3) Mortgage loans are reflected at carrying value on our Consolidated Balance Sheets as of December 31, 2018 and December 31, 2017. (4) Unsecured notes are recorded at historical cost on our Consolidated Balance Sheet as of December 31, 2018.
Noncontrolling Interest in Operating Partnership	Noncontrolling Interest in Operating Partnership – Certain hotel properties have been acquired, in part, by the Operating Partnership through the issuance of limited partnership units of the Operating Partnership. The noncontrolling interest in the Operating Partnership is: (i) increased or decreased by the limited partners’ pro-rata share of the Operating Partnership’s net income or net loss, respectively; (ii) decreased by distributions; (iii) decreased by redemption of partnership units for the Company’s common stock; and (iv) adjusted to equal the net equity of the Operating Partnership multiplied by the limited partners’ ownership percentage immediately after each issuance of units of the Operating Partnership and/or the Company’s common stock through an adjustment to additional paid-in capital. Net income or net loss is allocated to the noncontrolling interest in the Operating Partnership based on the weighted average percentage ownership throughout the period.
Revenue Recognition	Revenue Recognition – Revenue consists of amounts derived from hotel operations, including the sales of rooms, food and beverage, and other ancillary services. Room revenue is recognized over a customer's hotel stay. Revenue from food and beverage and other ancillary services is generated when a customer chooses to purchase goods or services separately from a hotel room and revenue is recognized on these distinct goods and services at the point in time or over the time period that goods or services are provided to the customer. Certain ancillary services are provided by third parties and the Company assesses whether it is the principal or agent in these arrangements. If the Company is the agent, revenue is recognized based upon the commission earned from the third party. If the Company is the principal, the Company recognizes revenue based upon the gross sales price. Some contracts for rooms or food and beverage services require an upfront deposit which is recorded as advanced deposits (or contract liabilities) and recognized once the performance obligations are satisfied and shown on our consolidated balance sheets. Certain of the Company's hotels have retail spaces, restaurants or other spaces which the Company leases to third parties. Lease revenue is recognized on a straight-line basis over the life of the lease and included in other operating revenues in the Company's consolidated statements of operations. The Company collects sales, use, occupancy and similar taxes at its hotels which are presented on a net basis on the consolidated statements of operations. Accounts receivable primarily represents receivables from hotel guests who occupy hotel rooms and utilize hotel services. The Company maintains an allowance for doubtful accounts sufficient to cover estimated potential credit losses.
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 consolidated statement of operations pursuant to the terms of each lease. Lease revenue was $1,730,015, $1,780,525 and $1,785,934, for the years ended December 31, 2018, 2017, and 2016, respectively. A schedule of minimum future lease payments receivable for the following twelve-month periods is as follows: December 31, 2019 $ 1,675,930 December 31, 2020 1,625,491 December 31, 2021 1,566,965 December 31, 2022 1,393,983 December 31, 2023 557,428 December 31, 2024 and thereafter 3,199,781 Total $ 10,019,578
Variable Interest Entities	Variable Interest Entities – The Operating Partnership is a variable interest entity. The Company’s only significant asset is its investment in the Operating Partnership, and consequently, substantially all of the Company’s assets and liabilities represent those assets and liabilities of the Operating Partnership and its subsidiaries. All of the Company’s debt is an obligation of the Operating Partnership and its subsidiaries.
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. At December 31, 2018, deferred tax assets total approximately $5.1 million, of which approximately $4.4 million relates to net operating losses of our TRS Lessee. A valuation allowance is required for deferred tax assets if, based on all available evidence, it is “more-likely-than-not” that all or a portion of the deferred tax asset will or will not be realized due to the inability to generate sufficient taxable income in certain financial statement periods. The “more-likely-than-not” analysis means the likelihood of realization is greater than 50%, that we will or will not be able to fully utilize the deferred tax assets against future taxable income. The net amount of deferred tax assets that are recorded on the financial statements must reflect the tax benefits that are expected to be realized using these criteria. We perform this analysis by evaluating future hotel revenues and expenses, accounting for certain non-recurring costs and expenses during the current and prior two fiscal years, as well as anticipated changes in the lease rental payments from the TRS Lessee to subsidiaries of the Operating Partnership. We have determined that it is more-likely-than-not that we will be able to fully utilize our deferred tax assets for future tax consequences, therefore no valuation allowance is required. As of December 31, 2018, 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, 2018, the tax years that remain subject to examination by the major tax jurisdictions to which the Company is subject generally include 2015 through 2017. In addition, as of December 31, 2018, the tax years that remain subject to examination by the major tax jurisdictions to which MHI TRS is subject, because of open NOL carryforwards, generally include 2014 through 2017. 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 and directors for up to 350,000 and 750,000 shares of common stock, respectively. The Company believes that stock awards 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. All of the 255,938 shares issued to certain of our executives and employees have vested. All of the 81,500 restricted shares issued to the Company’s independent directors have vested. The 2004 plan was terminated in 2013. As of December 31, 2018, under the 2013 Plan, the Company has made stock awards totaling 163,350 shares, including 77,600 non-restricted shares to certain executives, directors and employees, and 85,750 restricted shares issued to its independent directors and one employee. All awards have vested except for 20,000 shares issued to one employee, which will vest over the next 4 years. 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, 2018, 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 stock based compensation cost recognized under the 2004 Plan and 2013 Plan for the years ended December 31, 2018, 2017, and 2016 was $135,428, $109,080 and $211,682, respectively. The 2004 Plan was terminated in April 2013. Additionally, the Company sponsors and maintains an ESOP and related trust for the benefit of its eligible employees. We reflect unearned ESOP shares as a reduction of stockholders’ equity. Dividends on unearned ESOP shares, when paid, are considered compensation expense. The Company recognizes compensation expense equal to the fair value of the Company’s ESOP shares during the periods in which they are committed to be released. For the years ended December 31, 2018, 2017, and 2016 the ESOP compensation cost was $253,370, $238,307 and $0, respectively. To the extent that the fair value of the Company’s ESOP shares differs from the cost of such shares, the differential is recognized as additional paid in capital. Because the ESOP is internally leveraged through a loan from the Company to the ESOP, the loan receivable by the Company from the ESOP is not reported as an asset nor is the debt of the ESOP shown as a liability in the Company’s consolidated financial statements.
Advertising	Advertising – Advertising costs were $432,754, $357,379 and $452,665 for the years ended December 31, 2018, 2017, and 2016, respectively and are expensed as incurred.
Business Interruption Coverage	Business Interruption Proceeds – Insurance recoveries for business interruption were recognized during the years ended December 31, 2018 and 2017, for approximately $0.8 million and $0.6 million, respectively. The events that resulted in these recoveries during the year ending December 31, 2018, were an caused by an electrical outage at our property in Houston, Texas and by Hurricane Florence at our property in Wilmington, North Carolina. Business interruption recoveries during the year ended December 31, 2017, were caused by the electrical outage at our property in Houston, Texas and by hurricanes Irma and Matthew at our properties in Savannah, Georgia and Tampa, Florida, respectively. The insurance proceeds were reflected in the statement of operations in other operating departments revenues.
Involuntary Conversion of Assets	Involuntary Conversion of Assets – We record gains or losses on involuntary conversions of assets due to recovered insurance proceeds to the extent the undepreciated cost of a nonmonetary asset differs from the amount of monetary proceeds received. During the years ending December 31, 2018, 2017, and 2016, we recognized approximately $0.9 million, approximately $2.2 million and $0, respectively, for gain on involuntary conversion of assets, which is reflected in the consolidated statements of operations.
Comprehensive Income (Loss)	Comprehensive Income (Loss) – Comprehensive income (loss), as defined, includes all changes in equity (net assets) during a period from non-owner sources. 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.
Reclassifications	Reclassifications – Certain reclassifications have been made to the prior period’s financial statements to conform to the current year presentation. We have adopted ASU 2016-18 Statement of Cash Flows (Topic 230): Restricted Cash, whereby the restricted cash balances are reflected in the total Cash, Cash Equivalents and Restricted Cash for both current and prior year presentation. We have also reclassified gain (loss) on disposal of assets in the prior period’s consolidated statements of operations, to separate disposals related to changes in estimated useful lives of assets, from assets which were disposed of by sale in the respective periods. Certain other reclassifications in the amount of approximately $0.6 million for the twelve-month period ending December 31, 2016, from rooms expense to indirect expense balances on the consolidated statements of operations have been made to conform to the current period presentation. We also reclassified approximately $0.3 million for the twelve-month period ending December 31, 2016 on the statement of cash flows into line item, loss on early extinguishments of debt, and out of line item, payments of deferred financing costs, in order to conform to the current period presentation.
New Accounting Pronouncements	New Accounting Pronouncements – In July 2018, Financial Accounting Standards Board (“FASB”) issued ASU No. 2018-11, Leases (Topic 842): Targeted Improvements, The FASB decided to provide another transition method and practical expedients in addition to the existing transition method (a modified retrospective approach for leases that exist or are entered into after the beginning of the earliest comparative period in the financial statements) by allowing entities to initially apply the new leases standard at the adoption date (such as January 1, 2019, for calendar year-end public business entities) and recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. Upon adoption, we currently expect to elect the practical expedients allowed under the guidance and retain the original lease classification and historical accounting for initial direct costs for leases existing prior to the adoption date. We also expect that we will elect not to restate prior periods for the impact of the adoption of the new standard and will instead recognize a cumulative-effect adjustment to beginning retained earnings in the period of adoption. These standards are expected to result in the recognition of right-to-use assets and related liabilities to account for our future obligations under the ground lease arrangements for which we are the lessee. We expect to recognize right of use assets and corresponding liabilities of approximately $2.0 million to approximately $5.0 million during the first quarter of 2019. In August 2017, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities In February 2017, the FASB issued ASU 2017-05, Other Income-Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20). Nonmonetary Transactions In January 2017, the FASB issued ASU 2017-01, Business Combinations – Clarifying the Definition of a Business (Topic 805). In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments In May 2016, the FASB issued ASU No. 2016-12, Revenue from Contracts with Customers – Narrow-Scope Improvements and Practical Expedients (Topic 606) Revenue from Contracts with Customers (Topic 606) In April 2016, the FASB issued ASU No. 2016-10 , Revenue from Contracts with Customers – Identifying Performance Obligations and Licensing (Topic 606) Revenue from Contracts with Customers (Topic 606) In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) In July 2018, Financial Accounting Standards Board (“FASB”) issued ASU No. 2018-11, Leases (Topic 842): Targeted Improvements, The FASB decided to provide another transition method and practical expedients in addition to the existing transition method (a modified retrospective approach for leases that exist or are entered into after the beginning of the earliest comparative period in the financial statements) by allowing entities to initially apply the new leases standard at the adoption date (such as January 1, 2019, for calendar year-end public business entities) and recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. Upon adoption, we currently expect to elect the practical expedients allowed under the guidance and retain the original lease classification and historical accounting for initial direct costs for leases existing prior to the adoption date. We also expect that we will elect not to restate prior periods for the impact of the adoption of the new standard and will instead recognize a cumulative-effect adjustment to beginning retained earnings in the period of adoption. These standards are expected to result in the recognition of right-to-use assets and related liabilities to account for our future obligations under the ground lease arrangements for which we are the lessee. We expect to recognize right of use assets and corresponding liabilities of approximately during the first quarter of 2019. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606)

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Schedule of Recurring Assets and Liabilities Measured at Fair Value	The following table represents our assets and liabilities measured at fair value and the basis for that measurement (our interest rate caps and interest rate swap are the only assets or liabilities measured at fair value on a recurring basis and there were no non-recurring asset and liability fair value measurements as of December 31, 2018 and 2017, respectively): Level 1 Level 2 Level 3 December 31, 2017 Interest Rate Cap (1) $ — $ 5,213 $ — Interest Rate Swap (2) $ — $ — $ — Mortgage loans (3) $ — $ (292,368,370 ) $ — Unsecured notes (4) $ — $ — $ — December 31, 2018 Interest Rate Caps (1) $ — $ 94,697 $ — Interest Rate Swap (2) $ — $ (984,677 ) $ — Mortgage loans (3) $ — $ (357,279,949 ) $ — Unsecured notes (4) $ (25,390,000 ) $ — $ — (1) Interest rate caps, which caps the 1-month LIBOR (2) Interest rate swap, which takes the Loan Rate and swaps it for a fixed interest rate of 5.237%; notional amounts of the swap approximate the declining balance of the loan. (3) Mortgage loans are reflected at carrying value on our Consolidated Balance Sheets as of December 31, 2018 and December 31, 2017. (4) Unsecured notes are recorded at historical cost on our Consolidated Balance Sheet as of December 31, 2018.
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, 2019 $ 1,675,930 December 31, 2020 1,625,491 December 31, 2021 1,566,965 December 31, 2022 1,393,983 December 31, 2023 557,428 December 31, 2024 and thereafter 3,199,781 Total $ 10,019,578

Acquisition of Hotel Properti_2

Acquisition of Hotel Properties (Tables)	12 Months Ended
	Dec. 31, 2018
Business Combinations And Or Asset Acquisitions [Abstract]
Allocation of Purchase Price Based on Fair Values	The allocation of the purchase price based on their fair values was as follows: Hyatt Centric Arlington Hyde Resort & Residences Land and land improvements $ 190,916 $ 500 Buildings and improvements 70,369,046 4,309,500 Furniture, fixtures and equipment 6,229,888 72,616 Favorable lease and other intangible assets 3,054,812 — Investment in hotel properties 79,844,662 4,382,616 Accrued liabilities and other costs (111,946 ) (866,142 ) Prepaid expenses, inventory and other assets — 470,375 Net cash $ 79,732,716 $ 3,986,849

Investment in Hotel Propertie_2

Investment in Hotel Properties, Net (Tables)	12 Months Ended
	Dec. 31, 2018
Real Estate [Abstract]
Schedule of Investment in Hotel Properties, Net	Investment in hotel properties as of December 31, 2018 and 2017 consisted of the following: December 31, 2018 December 31, 2017 Land and land improvements $ 64,409,730 $ 59,504,625 Buildings and improvements 424,657,327 348,532,577 Furniture, fixtures and equipment 57,830,987 48,467,956 546,898,044 456,505,158 Less: accumulated depreciation and impairment (111,172,230 ) (98,705,646 ) Investment in Hotel Properties, Net $ 435,725,814 $ 357,799,512

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2018
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 2018 2017 Penalties Date Provisions Rate Crowne Plaza Tampa Westshore (1) $ 18,307,000 $ 15,284,200 None 6/30/2019 (1) LIBOR plus 3.75 % The DeSoto (2) 33,824,350 34,645,929 Yes 7/1/2026 25 years 4.25% DoubleTree by Hilton Jacksonville Riverfront (3) 34,773,546 35,294,741 Yes 7/11/2024 30 years 4.88% DoubleTree by Hilton Laurel (4) 8,845,299 9,132,558 Yes 8/5/2021 25 years 5.25% DoubleTree by Hilton Philadelphia Airport (5) 42,026,986 30,432,260 None 7/31/2023 30 years LIBOR plus 2.27 % DoubleTree by Hilton Raleigh- Brownstone University (6) 18,300,000 14,503,925 Yes 7/27/2022 (6) LIBOR plus 4.00 % DoubleTree Resort by Hilton Hollywood Beach (7) 57,064,824 58,023,567 n/a 10/1/2025 30 years 4.913% Georgian Terrace (8) 44,202,968 45,032,662 n/a 6/1/2025 30 years 4.42% Hotel Ballast Wilmington, Tapestry Collection by Hilton (9) 34,236,104 30,000,000 Yes 1/1/2027 25 years 4.25% Hyatt Centric Arlington (10) 49,885,045 — Yes 9/18/2028 30 years 5.25% Sheraton Louisville Riverside (11) 11,414,300 11,701,930 Yes 12/1/2026 25 years 4.27% The Whitehall (12) $ 14,733,458 15,000,000 Yes 2/26/2023 25 years LIBOR plus 3.50 % Total Mortgage Principal Balance $ 367,613,880 $ 299,051,772 Deferred financing costs, net (2,951,327 ) (1,923,928 ) Unamortized premium on loan $ 166,292 190,972 Total Mortgage Loans, Net $ 364,828,845 $ 297,318,816 (1) The note bears a floating interest rate of 1-month LIBOR plus 3.75% subject to a floor rate of 3.75%; with monthly principal payments of $23,100; the note provides that the mortgage can be extended for two additional periods of one year each, subject to certain conditions. (2) The note amortizes on a 25-year schedule after an initial 1-year interest-only period (which expired in August 2017), and is subject to a pre-payment penalty except for any pre-payments made within 120 days of the maturity date. (3) The note may not be prepaid until August 2019, after which it is subject to a pre-payment penalty until March 2024. Prepayment can be made without penalty thereafter. (4) The note is subject to a pre-payment penalty until April 2021 . Prepayment can be made without penalty thereafter. (5) The note bears a floating interest rate of 1-month LIBOR plus 2.27%, but we entered into a swap agreement to fix to the rate at 5.237%. Under the swap agreement, notional amounts approximate the declining balance of the loan and we are responsible for any potential termination fees associated with early termination of the swap agreement. (6) The note provides initial proceeds of $18.3 million, with an additional $5.2 million available upon the satisfaction of certain conditions; has an initial term of 4 years with a 1-year extension; bears a floating interest rate of the 1-month LIBOR plus 4.00%; requires interest only monthly payments; and following a 12-month lockout, can be prepaid with penalty in year 2 and without penalty thereafter. We entered into an interest-rate cap agreement to limit our exposure through August 1, 2022 to increases in LIBOR exceeding 3.25% on a notional amount of $23,500,000. (7) With limited exception, the note may not be prepaid until June 2025. (8) With limited exception, the note may not be prepaid until February 2025. (9) The note amortizes on a 25-year schedule after an initial 1-year interest-only period, and is subject to a pre-payment penalty except for any pre-payments made within 120 days of the maturity date. (10) Following a 5-year lockout, the note can be prepaid with penalty in years 6-10 and without penalty during the final 4 months of the term. (11) The note bears a fixed interest rate of 4.27% for the first 5 years of the loan, with an option for the lender to reset the interest rate after 5 years. (12) The note bears a floating interest rate of the 1-month LIBOR plus 3.5%, subject to a floor rate of 4.0% and is subject to prepayment penalties subject to a declining scale from 3.0% penalty on or before the first anniversary date, a 2.0% penalty during the second anniversary year and a 1.0% penalty after the third anniversary date.
Schedule of Future Mortgage Debt Maturities	Total future mortgage debt maturities, without respect to any extension of loan maturity, as of December 31, 2018 were as follows: December 31, 2019 $ 24,301,062 December 31, 2020 6,161,782 December 31, 2021 14,362,532 December 31, 2022 24,752,732 December 31, 2023 60,594,053 December 31, 2024 and thereafter 237,441,719 Total future maturities $ 367,613,880

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2018
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, 2019 475,343 December 31, 2020 364,163 December 31, 2021 354,639 December 31, 2022 351,464 December 31, 2023 351,464 December 31, 2024 and thereafter 3,568,701 Total $ 5,465,774

Preferred Stock and Units (Tabl

Preferred Stock and Units (Tables)	12 Months Ended
	Dec. 31, 2018
Preferred Stock And Units [Abstract]
Quarterly Distributions Declared and Payable by Operating Partnership	The following table presents the quarterly distributions by the Operating Partnership declared and payable per Quarter Ended 2016 2017 2018 March 31, $ — $ 0.50 $ 0.50 June 30, $ — $ 0.50 $ 0.50 September 30, $ 0.2111 (1) $ 0.50 $ 0.50 December 31, $ 0.50 $ 0.50 $ 0.50 (1) For the short period from August 23, 2016 to September 30, 2016. The following table presents the quarterly distributions by the Operating Partnership declared and payable per Series C Preferred Unit and dividends by the Company declared and payable per share of Series C Preferred Stock, for the years ended December 31, 2018, 2017, and 2016: Quarter Ended 2016 2017 2018 March 31, $ — $ — $ 0.4922 June 30, $ — $ — $ 0.4922 September 30, $ — $ — $ 0.4922 December 31, $ — $ 0.4430 (2) $ 0.4922 (1) (2) For the short period from October 11, 2017 to December 31, 2017.

Common Stock and Units (Tables)

Common Stock and Units (Tables)	12 Months Ended
	Dec. 31, 2018
Equity [Abstract]
Quarterly Stock Dividends and Unit Distributions Declared and Payable Per Common Stock/Unit	Common Stock Dividends and Unit Distributions – The following table presents the quarterly stock dividends and unit distributions by us declared and payable per common stock/unit for the years ended December 31, 2018, 2017, and 2016: Quarter Ended 2016 2017 2018 March 31, $ 0.085 $ 0.100 $ 0.115 June 30, $ 0.090 $ 0.105 $ 0.120 September 30, $ 0.095 $ 0.110 $ 0.125 December 31, $ 0.095 $ 0.110 $ 0.125

Retirement Plans (Tables)

Retirement Plans (Tables)	12 Months Ended
	Dec. 31, 2018
Compensation And Retirement Disclosure [Abstract]
Summary of Shares Allocations are Accounted For Fair Value on The Date of Allocations	The share allocations are accounted for at fair value on the date of allocation as follows December 31, 2018 December 31, 2017 Number of Shares Fair Value Number of Shares Fair Value Allocated shares 33,832 $ 189,798 9,473 $ 64,321 Committed to be released shares 35,474 199,007 24,359 157,117 Total Allocated and Committed-to-be-Released 69,306 $ 388,805 33,832 $ 221,438 Unallocated shares 613,194 3,440,020 648,668 4,183,908 Total ESOP Shares 682,500 $ 3,828,825 682,500 $ 4,405,346

Indirect Hotel Operating Expe_2

Indirect Hotel Operating Expenses (Tables)	12 Months Ended
	Dec. 31, 2018
Other Income And Expenses [Abstract]
Summary of Indirect Hotel Operating Expenses	Indirect hotel operating expenses consists of the following expenses incurred by the hotels: 2018 2017 2016 Sales and marketing $ 15,998,281 $ 13,843,578 $ 13,537,887 General and administrative 14,581,707 12,949,596 12,135,835 Repairs and maintenance 7,624,031 6,828,963 7,314,178 Utilities 6,266,192 5,820,589 6,429,686 Property taxes 6,225,508 5,729,464 5,983,280 Management fees, including incentive 4,785,702 4,170,977 3,865,362 Franchise fees 4,308,065 3,877,231 4,091,729 Insurance 2,894,708 2,446,269 2,594,783 Information and telecommunications 2,142,698 1,647,728 1,679,603 Other 818,608 297,808 104,594 Total indirect hotel operating expenses $ 65,645,500 $ 57,612,203 $ 57,736,937

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Components of Income Tax (Benefit) Provision	The components of the provision for (benefit from) income taxes for the years ended December 31, 2018, 2017, and 2016 are as follows: Year Ended Year Ended Year Ended December 31, 2018 December 31, 2017 December 31, 2016 Current: Federal $ — $ — $ — State 149,410 239,582 191,332 149,410 239,582 191,332 Deferred: Federal 351,663 1,661,153 (1,294,408 ) State (31,724 ) (162,931 ) (264,558 ) 319,939 1,498,222 (1,558,966 ) $ 469,349 $ 1,737,804 $ (1,367,634 )
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, 2018 December 31, 2017 December 31, 2016 Statutory federal income tax provision (benefit) $ (29,150 ) $ 600,880 $ (158,859 ) Effect of non-taxable REIT loss 380,813 (1,621,526 ) (1,135,549 ) Effect of change in federal income tax rate on net deferred tax assets - 2,681,800 - State income tax provision (benefit) 117,686 76,650 (73,226 ) $ 469,349 $ 1,737,804 $ (1,367,634 )

Loss per Share and per Unit (Ta

Loss per Share and per Unit (Tables)	12 Months Ended
	Dec. 31, 2018
Earnings Per Share [Abstract]
Computation of Basic Net Loss Per Share	The computation of basic net loss per share is presented below. Year Ended Year Ended Year Ended December 31, 2018 December 31, 2017 December 31, 2016 Numerator Net loss available to common stockholders for basic and diluted computation $ (5,719,978 ) $ (3,339,136 ) $ (218,173 ) Denominator Weighted average number of common shares outstanding 14,145,838 14,445,865 14,896,994 Weighted average number of Unearned ESOP Shares (628,350 ) (616,765 ) - Total weighted average number of common shares outstanding for basic computation 13,517,488 13,829,100 14,896,994 Basic net loss per share $ (0.42 ) $ (0.24 ) $ (0.01 )
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, 2018 December 31, 2017 December 31, 2016 Numerator Net loss available to common unitholders for basic computation $ (6,438,071 ) $ (3,752,150 ) $ (244,740 ) Denominator Weighted average number of units outstanding 15,923,978 16,224,005 16,710,935 Basic net loss per unit $ (0.40 ) $ (0.23 ) $ (0.01 )

Quarterly Operating Results -_2

Quarterly Operating Results - Unaudited (Tables)	12 Months Ended
	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Quarterly Operating Results	Quarters Ended 2018 March 31 June 30 September 30 December 31 Total revenue $ 41,735,556 $ 51,553,527 $ 41,418,062 $ 43,465,976 Total operating expenses 37,041,269 42,275,569 38,298,919 40,451,053 Net operating income 4,694,287 9,277,958 3,119,143 3,014,923 Net income (loss) 1,176,488 2,967,589 (1,981,780 ) (2,770,454 ) Net income (loss) attributable to common shareholders (238,343 ) 1,352,414 (3,065,883 ) (3,768,166 ) Earnings (loss) per share attributable to common shareholders– basic and diluted $ (0.02 ) $ 0.10 $ (0.23 ) $ (0.28 ) Net income (loss) available to operating partnership unitholders (268,356 ) 1,522,745 (3,451,499 ) (4,240,961 ) Earnings (loss) per unit attributable to operating partnership unitholders– basic and diluted $ (0.02 ) $ 0.10 $ (0.22 ) $ (0.27 ) Quarters Ended 2017 March 31 June 30 September 30 December 31 Total revenue $ 38,694,886 $ 40,642,632 $ 36,769,471 $ 38,159,704 Total operating expenses 32,989,182 35,178,717 34,595,193 35,339,712 Net operating income 5,705,704 5,463,915 2,174,278 2,819,992 Net income(loss) 2,886,032 1,135,719 (936,000 ) (3,056,262 ) Net income (loss) attributable to common shareholders 1,851,090 296,850 (1,550,555 ) (3,936,522 ) Earnings (loss) per share attributable to common shareholders– basic and diluted $ 0.13 $ 0.02 $ (0.11 ) $ (0.29 ) Net income (loss) available to operating partnership unitholders 2,100,958 310,795 (1,741,000 ) (4,422,903 ) Earnings (loss) per unit attributable to operating partnership unitholders– basic and diluted $ 0.13 $ 0.02 $ (0.11 ) $ (0.27 )

Organization and Description _2

Organization and Description of Business - Additional Information (Detail)

Sep. 18, 2018USD ($)

Aug. 31, 2018USD ($)$ / sharesshares

Jul. 31, 2018USD ($)

Jul. 27, 2018USD ($)

Jul. 02, 2018USD ($)

Mar. 01, 2018USD ($)RoomRenewalPeriod

Feb. 26, 2018

Feb. 12, 2018USD ($)

Feb. 01, 2018USD ($)

Nov. 15, 2017USD ($)

Oct. 17, 2017USD ($)shares

Oct. 11, 2017USD ($)shares

Jun. 29, 2017USD ($)

Jun. 01, 2017USD ($)

Feb. 07, 2017USD ($)

Jan. 30, 2017USD ($)RoomParkingSpaces

Dec. 02, 2016USD ($)$ / shares

Dec. 01, 2016USD ($)

Nov. 03, 2016USD ($)

Oct. 12, 2016USD ($)mortgage

Aug. 23, 2016USD ($)shares

Jun. 30, 2016USD ($)

Jun. 27, 2016USD ($)

Mar. 21, 2016

Feb. 28, 2017USD ($)shares

Dec. 31, 2018USD ($)HotelRoomRenewalPeriod$ / sharesshares

Dec. 31, 2017USD ($)$ / sharesshares

Dec. 31, 2016USD ($)shares

Jul. 30, 2018USD ($)

Oct. 30, 2017

Dec. 29, 2016USD ($)

Sep. 30, 2016USD ($)

Jan. 01, 2016USD ($)

Nov. 21, 2014

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

3,156

Date of commencement of business

Dec. 21, 2004

Number of hotels acquired before commencement of business | Hotel

6

Debt instrument maturity date

Nov. 13, 2017

Mortgage loan term period

5 years

Mortgage loans

$ 20,500,000

$ 367,613,880

$ 299,051,772

Floating rate of interest rate

3.50%

Floating interest rate period

1 month

Fixed interest rate

4.00%

Proceeds from sale of preferred stock

1,005,063

30,488,660

$ 37,766,531

Proceeds from mortgage loans

$ 15,000,000

175,800,000

40,500,000

102,700,000

Mortgage loan additional earn-out provision

$ 5,500,000

Amortization Period

18 years

Number of parts mortgage loan issued | mortgage

2

Repurchase of common stock

$ 0

$ 2,731,041

$ 3,164,536

Common stock, par value | $ / shares

$ 0.01

$ 0.01

$ 0.01

Number of common stock shares repurchased | shares

0

401,720

481,100

Maximum amount allocated to purchase common stock under ESOP

$ 5,000,000

$ 5,000,000

Number of common stock, shares purchased | shares

682,500

Purchased common stock at an aggregate cost

$ 4,900,000

$ 4,874,758

Proceeds from sale and issuance of unsecured notes

$ 25,000,000

Loan rate swapped for fixed interest rate

5.237%

Preferred stock, shares authorized | shares

11,000,000

11,000,000

Common Stock [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Repurchase of common stock

$ 4,017

$ 4,811

Number of common stock shares repurchased | shares

401,720

481,100

Stock issued during period | shares

88,297

Crowne Plaza Hampton Marina [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Proceeds from sale of assets

$ 5,600,000

Maximum [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Repurchase of common stock

$ 10,000,000

Maximum [Member] | LIBOR [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Interest rate cap for loan

3.25%

3.25%

Minimum [Member] | LIBOR [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Interest rate cap for loan

2.50%

2.50%

Sotherly Hotels LP [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Proceeds from sale of preferred stock

$ 1,005,063

$ 30,488,660

$ 37,766,531

Proceeds from mortgage loans

175,800,000

40,500,000

$ 102,700,000

Proceeds from sale and issuance of unsecured notes

$ 25,000,000

8.0% Senior Unsecured Notes [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Interest rate

8.00%

Debt instrument redeemed, principal amount

$ 27,600,000

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Interest rate

8.00%

7.0% Senior Unsecured Notes [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Debt instrument maturity date

Nov. 15, 2019

Interest rate

7.00%

7.00%

Debt instrument redeemed, principal amount

$ 25,300,000

Debt instrument redeemed date

Nov. 15, 2017

Nov. 15, 2017

Percentage of redemption price equal to principal amount

101.00%

7.0% Senior Unsecured Notes [Member] | Sotherly Hotels LP [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Interest rate

7.00%

7.25% Senior Unsecured Notes due 2021 [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Interest rate

7.25%

Proceeds from sale and issuance of unsecured notes

$ 25,000,000

Proceeds from unsecured notes net of estimated expenses

23,300,000

8% Series B Cumulative Redeemable Perpetual Preferred Stock [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Preferred stock, shares sale and issuance | shares

1,610,000

Preferred stock, dividend rate percentage

8.00%

Proceeds from sale of preferred stock

$ 37,800,000

7.875% Series C Cumulative Redeemable Perpetual Preferred Stock [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Preferred stock, shares sale and issuance | shares

100,000

1,200,000

Preferred stock, dividend rate percentage

7.875%

Proceeds from sale of preferred stock

$ 2,500,000

$ 28,000,000

Crowne Plaza Tampa Westshore [Member] | Mortgage Loans [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Debt instrument maturity date

Jun. 30, 2019

Mortgage loans

$ 18,307,000

15,284,200

Floating rate of interest rate

3.75%

Floating interest rate period

1 month

Fixed interest rate

3.75%

Monthly principal payments

$ 23,100

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Debt instrument maturity date

Dec. 1, 2026

Dec. 1, 2026

Mortgage loan term period

5 years

Interest rate

4.27%

Mortgage loans

$ 11,414,300

11,701,930

Proceeds from mortgage loans

$ 12,000,000

Amortization Period

25 years

25 years

Sheraton Louisville Riverside [Member] | Mortgage Loans [Member] | Sotherly Hotels LP [Member] | Maximum [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Guaranteed percentage of unpaid principal balance, interest, and other amounts owed

50.00%

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Debt instrument maturity date

Nov. 1, 2019

Interest rate

5.00%

Monthly principal payments

$ 15,367

Debt instrument, date of first required payment

Dec. 1, 2016

Hotel Ballast Wilmington,Tapestry Collection by Hilton [Member] | Mortgage Loans [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Debt instrument maturity date

Jan. 1, 2027

Mortgage loans

$ 34,236,104

30,000,000

Amortization Period

25 years

Additional proceeds on mortgage loan

$ 5,000,000

Double Tree by Hilton Jacksonville Riverfront [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Aggregate purchase price

$ 3,500,000

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Debt instrument maturity date

Jul. 11, 2024

Mortgage loans

$ 34,773,546

35,294,741

Amortization Period

30 years

The Whitehall [Member] | Mortgage Loans [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Debt instrument maturity date

Feb. 26, 2023

Mortgage loans

$ 14,733,458

15,000,000

Floating rate of interest rate

3.50%

Floating interest rate period

1 month

Fixed interest rate

4.00%

Amortization Period

25 years

25 years

Extended maturity date

Feb. 26, 2023

Double Tree By Hilton Philadelphia Airport [Member] | Toronto Dominion Bank

Organization Consolidation and Presentation of Financial Statements [Line Items]

Debt instrument maturity date

Jul. 31, 2023

Amortization Period

30 years

Mortgage loans

$ 42,200,000

$ 30,000,000

Swap agreement term

5 years

Loan rate swapped for fixed interest rate

5.237%

Debt instrument, description

Pursuant to the amended loan documents: (i) the principal balance of the loan was increased from approximately $30.0 million to $42.2 million; (ii) the loan’s maturity date was extended to July 31, 2023; (iii) the loan bears a floating interest rate equal to the 1-month LIBOR rate plus 2.27% (the “Loan Rate”); (iv) the loan amortizes on a 30-year schedule with payments of principal and interest beginning immediately; (v) the loan can be prepaid without penalty; and (vi) the loan will no longer be fully guaranteed by the Operating Partnership, but the Operating Partnership has guaranteed certain standard “bad boy” carveouts. Pursuant to the swap agreement: (i) the Loan Rate has been swapped for a fixed interest rate of 5.237%; notional amounts of the swap approximate the declining balance of the loan; and (iii) we are responsible for any potential termination fees associated with early termination of the swap agreement.

Double Tree By Hilton Philadelphia Airport [Member] | LIBOR [Member] | Toronto Dominion Bank

Organization Consolidation and Presentation of Financial Statements [Line Items]

Floating rate of interest rate

2.27%

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Debt instrument maturity date

Jul. 31, 2023

Mortgage loans

$ 42,026,986

$ 30,432,260

Floating rate of interest rate

2.27%

Floating interest rate period

1 month

Amortization Period

30 years

MONY Life Insurance Company [Member] | Hilton Savannah DeSoto [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Debt instrument maturity date

Jul. 1, 2026

Mortgage loans

$ 35,000,000

Mortgage loan term period

10 years

Amortization schedule

25 years

Interest rate

4.25%

MONY Life Insurance Company [Member] | Hotel Ballast Wilmington,Tapestry Collection by Hilton [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Debt instrument maturity date

Jan. 1, 2027

Mortgage loans

$ 35,000,000

Mortgage loan term period

10 years

Fixed interest rate

4.25%

Proceeds from mortgage loans

$ 30,000,000

Mortgage loan additional earn-out provision

$ 5,000,000

Amortization Period

25 years

Fifth Third Bank [Member] | Crowne Plaza Tampa Westshore [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Mortgage loan term period

3 years

Mortgage loans

$ 19,000,000

Floating rate of interest rate

3.75%

Floating interest rate period

30 days

Fixed interest rate

3.75%

Period subject to certain terms and conditions

2 years

Monthly principal payments

$ 23,100

Wells Fargo Bank, N.A [Member] | Double Tree by Hilton Jacksonville Riverfront [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Debt instrument maturity date

Jul. 11, 2024

Mortgage loans

$ 35,500,000

Fixed interest rate

4.88%

Amortization Period

30 years

MetLife Commercial Mortgage Originator, LLC [Member] | Doubletree By Hilton Raleigh Brownstone - University [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Mortgage loan additional earn-out provision

$ 5,200,000

Mortgage loans

$ 18,300,000

Debt instrument maturity term

4 years

Extended maturity period

1-year

Derivative maturity limit

Aug. 1, 2022

Notional amount

$ 23,500,000

Debt instrument prepayment lockout period

12 months

Debt instrument prepayment penalty description

The mortgage requires monthly interest-only payments and, following a 12-month lockout, can be prepaid with a penalty during its second year and without penalty thereafter

MetLife Commercial Mortgage Originator, LLC [Member] | Doubletree By Hilton Raleigh Brownstone - University [Member] | LIBOR [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Floating rate of interest rate

4.00%

Interest rate cap for loan

3.25%

Sandler O’Neill [Member] | Sales Agency Agreement [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Common stock, par value | $ / shares

$ 0.01

Aggregate gross sale price of common stock

$ 5,000,000

Preferred stock, par value | $ / shares

$ 0.01

Sandler O’Neill [Member] | Sales Agency Agreement [Member] | Common Stock [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Common stock, par value | $ / shares

$ 0.01

Aggregate gross sale price of common stock

$ 5,000,000

Stock issued during period | shares

88,297

Sandler O’Neill [Member] | Sales Agency Agreement [Member] | 7.875% Series C Cumulative Redeemable Perpetual Preferred Stock [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Preferred stock, dividend rate percentage

7.875%

Preferred stock, shares authorized | shares

400,000

Sandler O’Neill [Member] | Sales Agency Agreement [Member] | 7.875% Series C Cumulative Redeemable Perpetual Preferred Units [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Stock issued during period | shares

52,141

Aggregate net price of common stock and redeemable preferred stock

$ 1,800,000

Operating Partnership [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Percentage of operating partnership owned

88.90%

Commercial Unit of Hyde Resort & Residences [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Investment in number of hotels | Hotel

1

Rooms in hotel | Room

400

400

Commercial unit purchase price

$ 4,800,000

Number of parking space lease agreement entered | ParkingSpaces

400

Proceeds from pre-opening services fee

$ 800,000

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Commercial unit purchase price

$ 5,100,000

Pre-opening services fee receivable

$ 800,000

Hyatt Centric Arlington [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Rooms in hotel | Room

318

Commercial unit purchase price

$ 79,700,000

Mortgage loans

$ 57,000,000

Hyatt Centric Arlington [Member] | Management Agreement with Highgate Hotels L.P. [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Intial term of agreement

3 years

Agreement commencement date

Mar. 1, 2018

Base management fee of gross revenues

2.50%

Incentive management fee equal to increase in gross operating profit percentage

10.00%

Maximum incentive management fee of gross revenues

0.50%

Hyatt Centric Arlington [Member] | Franchise Agreement with Affiliate of Hyatt Hotels Corporation Operating as Hyatt Centric Arlington [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Rental payments per year in base rent under ground lease

$ 50,000

$ 50,000

Ground lease percentage rent on gross rooms revenues in excess of thresholds

3.50%

3.50%

Initial term of ground lease expires year

2025

2025

Number of additional renewal periods extended under ground lease | RenewalPeriod

5

5

Duration period under ground lease for each renewal periods extended

10 years

10 years

Hyatt Centric Arlington [Member] | First Promissory Note (“Note A”) [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Monthly principal payments

$ 78,650

Mortgage loans

$ 50,000,000

Debt instrument maturity term

3 years

Extended maturity period

two 1-year

Hyatt Centric Arlington [Member] | First Promissory Note (“Note A”) [Member] | LIBOR [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Floating rate of interest rate

3.00%

Hyatt Centric Arlington [Member] | Second Promissory Note (“Note B”) [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Mortgage loans

$ 7,000,000

Debt instrument maturity term

1 year

Extended maturity period

two 1-year

Hyatt Centric Arlington [Member] | Second Promissory Note (“Note B”) [Member] | Initial 1-Year Term [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Monthly principal payments

$ 100,000

Hyatt Centric Arlington [Member] | Second Promissory Note (“Note B”) [Member] | First 1-Year Extended Term [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Monthly principal payments

150,000

Hyatt Centric Arlington [Member] | Second Promissory Note (“Note B”) [Member] | Second 1-Year Extended Term [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Monthly principal payments

$ 250,000

Hyatt Centric Arlington [Member] | Second Promissory Note (“Note B”) [Member] | LIBOR [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Floating rate of interest rate

5.00%

Hyatt Centric Arlington [Member] | 7.25% Senior Unsecured Notes due 2021 [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Interest rate

7.25%

Hyatt Centric Arlington [Member] | MetLife Real Estate Lending LLC [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Interest rate

5.25%

Amortization Period

30 years

Mortgage loans

$ 50,000,000

Intial term of agreement

10 years

Debt instrument prepayment lockout period

5 years

Debt instrument prepayment penalty description

prepaid with penalty in years 6-10 and without penalty during the final 4 months of the term.

Debt instrument prepayment without penalty period during final term

4 months

Hyatt Centric Arlington [Member] | MetLife Real Estate Lending LLC [Member] | Maximum [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Debt instrument prepayment penalty period

10 years

Hyatt Centric Arlington [Member] | MetLife Real Estate Lending LLC [Member] | Minimum [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Debt instrument prepayment penalty period

6 years

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Detail)	Jan. 01, 2018USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)Segmentshares	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Summary Of Significant Accounting Policies [Line Items]
Federal Deposit Insurance Corporation protection limits			$ 250,000
Un-amortized franchise fees			471,996	$ 532,070
Amortization expense			60,073	46,209	$ 52,330
Amortization expense on favorable lease assets, net			316,080	0	0
Deferred offering costs write off			0	500,000	0
Deferred offering costs included in prepaid expenses, inventory and other assets			0
Deferred income taxes			5,131,179	5,451,118
Deferred tax assets related to net operating losses			$ 4,400,000
Minimum percentage of likelihood of realization of deferred tax assets			50.00%
Deferred tax assets valuation allowance			$ 0
Uncertain tax positions			0
Compensation cost recognized			379,153	347,387	211,682
Advertising cost			432,754	357,379	452,665
Gain on involuntary conversion of assets			$ 917,767	2,242,876	0
Number of reportable segment | Segment			1
Reclassifications of expenses from rooms expense to indirect expense			$ 65,645,500	57,612,203	57,736,937
Reclassification into loss on extinguishments of debt			(753,133)	(1,178,348)	(1,417,905)
ASU 2014-09 [Member]
Summary Of Significant Accounting Policies [Line Items]
Adjustment recorded to opening balance of retained earnings	$ 0
Impact to net income	$ 0
Reclassifications of Expenses [Member]
Summary Of Significant Accounting Policies [Line Items]
Reclassifications of expenses from rooms expense to indirect expense					600,000
Reclassification into loss on extinguishments of debt					300,000
Other Operating Departments Revenue [Member] | Hurricane [Member] | Houston, Texas and Tampa, Florida [Member]
Summary Of Significant Accounting Policies [Line Items]
Insurance recoveries from business interruption			800,000	600,000
ESOP [Member]
Summary Of Significant Accounting Policies [Line Items]
Compensation cost recognized			$ 253,370	238,307	0
2004 Plan [Member]
Summary Of Significant Accounting Policies [Line Items]
Shares issued under plan | shares			337,438
Termination year of stock based compensation plan			2013
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
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
2013 Plan [Member]
Summary Of Significant Accounting Policies [Line Items]
Shares issued under plan | shares			163,350
Performance-based stock awards granted | shares			0
2013 Plan [Member] | Executives, Directors and Employees [Member]
Summary Of Significant Accounting Policies [Line Items]
Shares issued under plan | shares			77,600
2013 Plan [Member] | Director and One Employee [Member]
Summary Of Significant Accounting Policies [Line Items]
Shares issued under plan | shares			85,750
2013 Plan [Member] | One Employee [Member]
Summary Of Significant Accounting Policies [Line Items]
Stock award vesting period			4 years
Shares issued but not vested | shares			20,000
2004 and 2013 Plan [Member]
Summary Of Significant Accounting Policies [Line Items]
Compensation cost recognized			$ 135,428	109,080	211,682
Other Operating Departments [Member]
Summary Of Significant Accounting Policies [Line Items]
Lease revenue			$ 1,730,015	$ 1,780,525	$ 1,785,934
Minimum [Member] | ASU 2018-11 | Subsequent Event [Member]
Summary Of Significant Accounting Policies [Line Items]
Right of use assets and corresponding liabilities		$ 2,000,000
Minimum [Member] | ASU 2016-02 | Subsequent Event [Member] | Scenario Forecast [Member]
Summary Of Significant Accounting Policies [Line Items]
Right of use assets and corresponding liabilities		2,000,000
Maximum [Member] | ASU 2018-11 | Subsequent Event [Member]
Summary Of Significant Accounting Policies [Line Items]
Right of use assets and corresponding liabilities		5,000,000
Maximum [Member] | ASU 2016-02 | Subsequent Event [Member] | Scenario Forecast [Member]
Summary Of Significant Accounting Policies [Line Items]
Right of use assets and corresponding liabilities		$ 5,000,000
Maximum [Member] | 2004 Plan [Member]
Summary Of Significant Accounting Policies [Line Items]
Restricted and performance stock awards permitted to grant to employees and directors | 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 and directors | shares			750,000
Buildings and Building Improvements [Member] | Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Estimated useful lives of the assets			7 years
Buildings and Building Improvements [Member] | Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Estimated useful lives of the assets			39 years
Furniture, Fixtures and Equipment [Member] | Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Estimated useful lives of the assets			3 years
Furniture, Fixtures and Equipment [Member] | Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Estimated useful lives of the assets			10 years

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Schedule of Recurring Assets and Liabilities Measured at Fair Value (Detail) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Level 1 [Member] | Unsecured Notes [Member]
Derivatives Fair Value [Line Items]
Debt instruments measured at fair value	$ (25,390,000)
Level 2 [Member] | Interest Rate Cap [Member]
Derivatives Fair Value [Line Items]
Interest rate cap	94,697	$ 5,213
Level 2 [Member] | Interest Rate Swap [Member]
Derivatives Fair Value [Line Items]
Interest rate cap	(984,677)
Level 2 [Member] | Mortgage Loans [Member]
Derivatives Fair Value [Line Items]
Debt instruments measured at fair value	$ (357,279,949)	$ (292,368,370)

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Schedule of Recurring Assets and Liabilities Measured at Fair Value (Parenthetical) (Detail)	Dec. 31, 2018	Dec. 31, 2017
Derivatives Fair Value [Line Items]
Loan rate swapped for fixed interest rate	5.237%
1-Month LIBOR | Minimum [Member]
Derivatives Fair Value [Line Items]
Interest rate cap for loan	2.50%	2.50%
1-Month LIBOR | Maximum [Member]
Derivatives Fair Value [Line Items]
Interest rate cap for loan	3.25%	3.25%

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Schedule of Minimum Future Lease Payments Receivable (Detail)	Dec. 31, 2018USD ($)
Leases [Abstract]
December 31, 2019	$ 1,675,930
December 31, 2020	1,625,491
December 31, 2021	1,566,965
December 31, 2022	1,393,983
December 31, 2023	557,428
December 31, 2024 and thereafter	3,199,781
Total	$ 10,019,578

Acquisition of Hotel Properti_3

Acquisition of Hotel Properties - Additional Information (Detail) - USD ($) $ in Millions	Mar. 01, 2018	Jan. 30, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018
Hyatt Centric Arlington [Member]
Business Acquisition [Line Items]
Fair value of consideration	$ 79.7
Initial purchase price	81
Total revenue from acquisitions			$ 18.1
Net income (loss) from acquisitions			$ 0.8
Commercial unit purchase price	$ 79.7
Commercial Condominium Unit of Hyde Resort & Residences [Member]
Business Acquisition [Line Items]
Total revenue from acquisitions				$ 4	$ 6.7
Net income (loss) from acquisitions				$ (0.7)	$ 0.1
Commercial unit purchase price		$ 4.8

Acquisition of Hotel Properti_4

Acquisition of Hotel Properties - Allocation of Purchase Price Based on Fair Values (Detail) - USD ($)	Mar. 01, 2018	Jan. 30, 2017	Dec. 31, 2018	Dec. 31, 2017
Business Acquisition [Line Items]
Net cash			$ 79,732,716	$ 3,986,849
Hyatt Centric Arlington [Member]
Business Acquisition [Line Items]
Land and land improvements	$ 190,916
Buildings and improvements	70,369,046
Furniture, fixtures and equipment	6,229,888
Favorable lease and other intangible assets	3,054,812
Investment in hotel properties	79,844,662
Accrued liabilities and other costs	(111,946)
Net cash	$ 79,732,716
Commercial Condominium Unit of Hyde Resort & Residences [Member]
Business Acquisition [Line Items]
Land and land improvements		$ 500
Buildings and improvements		4,309,500
Furniture, fixtures and equipment		72,616
Investment in hotel properties		4,382,616
Accrued liabilities and other costs		(866,142)
Prepaid expenses, inventory and other assets		470,375
Net cash		$ 3,986,849

Investment in Hotel Propertie_3

Investment in Hotel Properties, Net - Schedule of Investment in Hotel Properties, Net (Detail) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment [Line Items]
Investment in Hotel Properties, Gross	$ 546,898,044	$ 456,505,158
Less: accumulated depreciation and impairment	(111,172,230)	(98,705,646)
Investment in Hotel Properties, Net	435,725,814	357,799,512
Land and Land Improvements [Member]
Property, Plant and Equipment [Line Items]
Investment in Hotel Properties, Gross	64,409,730	59,504,625
Buildings and Improvements [Member]
Property, Plant and Equipment [Line Items]
Investment in Hotel Properties, Gross	424,657,327	348,532,577
Furniture, Fixtures and Equipment [Member]
Property, Plant and Equipment [Line Items]
Investment in Hotel Properties, Gross	$ 57,830,987	$ 48,467,956

Investment in Hotel Propertie_4

Investment in Hotel Properties, Net - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Property Plant And Equipment Capitalized Interest Costs [Abstract]
Impairment of hotel properties	$ 0	$ 0

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($)	Feb. 12, 2018	Nov. 15, 2017	Mar. 21, 2016	Nov. 21, 2014	Dec. 31, 2018	Mar. 01, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Mortgage loan outstanding balance					$ 364,800,000		$ 297,300,000
Debt instrument maturity date			Nov. 13, 2017
Proceeds of unsecured debt					$ 25,000,000
Hyatt Centric Arlington [Member]
Debt Instrument [Line Items]
Mortgage loans	$ 57,000,000
7.0% Senior Unsecured Notes [Member]
Debt Instrument [Line Items]
Interest rate on loan		7.00%		7.00%
Borrowed amount				$ 25,300,000
Debt instrument maturity date					Nov. 15, 2019
Debt Instrument redeemed date		Nov. 15, 2017			Nov. 15, 2017
Notes face value				101.00%
7.25% Senior Unsecured Notes due 2021 [Member]
Debt Instrument [Line Items]
Interest rate on loan	7.25%
Proceeds of unsecured debt	$ 25,000,000
Proceeds from unsecured notes net of estimated expenses	$ 23,300,000
7.25% Senior Unsecured Notes due 2021 [Member] | Hyatt Centric Arlington [Member]
Debt Instrument [Line Items]
Interest rate on loan						7.25%

Debt - Schedule of Mortgage Deb

Debt - Schedule of Mortgage Debt Obligations on Hotels (Detail) - USD ($)	Feb. 26, 2018	Nov. 03, 2016	Oct. 12, 2016	Mar. 21, 2016	Dec. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Mortgage loans			$ 20,500,000		$ 367,613,880	$ 299,051,772
Maturity Date				Nov. 13, 2017
Amortization Provisions, Term			18 years
Deferred financing costs, net					(2,951,327)	(1,923,928)
Unamortized premium on loan					166,292	190,972
Total Mortgage Loans, Net					364,828,845	297,318,816
Crowne Plaza Tampa Westshore [Member] | Mortgage Loans [Member]
Debt Instrument [Line Items]
Mortgage loans					$ 18,307,000	15,284,200
Prepayment Penalties					None
Maturity Date					Jun. 30, 2019
Interest rate applicable to the mortgage loan					3.75%
The DeSoto [Member] | Mortgage Loans [Member]
Debt Instrument [Line Items]
Mortgage loans					$ 33,824,350	34,645,929
Prepayment Penalties					Yes
Maturity Date					Jul. 1, 2026
Amortization Provisions, Term					25 years
Interest rate applicable to the mortgage loan					4.25%
Double Tree by Hilton Jacksonville Riverfront [Member] | Mortgage Loans [Member]
Debt Instrument [Line Items]
Mortgage loans					$ 34,773,546	35,294,741
Prepayment Penalties					Yes
Maturity Date					Jul. 11, 2024
Amortization Provisions, Term					30 years
Interest rate applicable to the mortgage loan					4.88%
Double Tree by Hilton Laurel [Member] | Mortgage Loans [Member]
Debt Instrument [Line Items]
Mortgage loans					$ 8,845,299	9,132,558
Prepayment Penalties					Yes
Maturity Date					Aug. 5, 2021
Amortization Provisions, Term					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					$ 42,026,986	30,432,260
Prepayment Penalties					None
Maturity Date					Jul. 31, 2023
Amortization Provisions, Term					30 years
Interest rate applicable to the mortgage loan					2.27%
Doubletree By Hilton Raleigh Brownstone - University [Member] | Mortgage Loans [Member]
Debt Instrument [Line Items]
Mortgage loans					$ 18,300,000	14,503,925
Prepayment Penalties					Yes
Maturity Date					Jul. 27, 2022
Interest rate applicable to the mortgage loan					4.00%
DoubleTree Resort by Hilton Hollywood Beach [Member] | Mortgage Loans [Member]
Debt Instrument [Line Items]
Mortgage loans					$ 57,064,824	58,023,567
Prepayment Penalties					n/a
Maturity Date					Oct. 1, 2025
Amortization Provisions, Term					30 years
Interest rate applicable to the mortgage loan					4.913%
Georgian Terrace [Member] | Mortgage Loans [Member]
Debt Instrument [Line Items]
Mortgage loans					$ 44,202,968	45,032,662
Prepayment Penalties					n/a
Maturity Date					Jun. 1, 2025
Amortization Provisions, Term					30 years
Interest rate applicable to the mortgage loan					4.42%
Hotel Ballast Wilmington,Tapestry Collection by Hilton [Member] | Mortgage Loans [Member]
Debt Instrument [Line Items]
Mortgage loans					$ 34,236,104	30,000,000
Prepayment Penalties					Yes
Maturity Date					Jan. 1, 2027
Amortization Provisions, Term					25 years
Interest rate applicable to the mortgage loan					4.25%
Hyatt Centric Arlington [Member] | Mortgage Loans [Member]
Debt Instrument [Line Items]
Mortgage loans					$ 49,885,045
Prepayment Penalties					Yes
Maturity Date					Sep. 18, 2028
Amortization Provisions, Term					30 years
Interest rate applicable to the mortgage loan					5.25%
Sheraton Louisville Riverside [Member] | Mortgage Loans [Member]
Debt Instrument [Line Items]
Mortgage loans					$ 11,414,300	11,701,930
Prepayment Penalties					Yes
Maturity Date		Dec. 1, 2026			Dec. 1, 2026
Amortization Provisions, Term		25 years			25 years
Interest rate applicable to the mortgage loan					4.27%
The Whitehall [Member] | Mortgage Loans [Member]
Debt Instrument [Line Items]
Mortgage loans					$ 14,733,458	$ 15,000,000
Prepayment Penalties					Yes
Maturity Date					Feb. 26, 2023
Amortization Provisions, Term	25 years				25 years
Interest rate applicable to the mortgage loan					3.50%

Debt - Schedule of Mortgage D_2

Debt - Schedule of Mortgage Debt Obligations on Hotels (Parenthetical) (Detail) - USD ($)	Feb. 26, 2018	Nov. 03, 2016	Oct. 12, 2016	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Floating interest rate period			1 month
Excess Interest rate over LIBOR on mortgage debt			3.50%
Fixed interest rate			4.00%
Amortization Period			18 years
Loan rate swapped for fixed interest rate				5.237%
Proceeds of mortgage debt			$ 15,000,000	$ 175,800,000	$ 40,500,000	$ 102,700,000
Maximum [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Interest rate cap for loan				3.25%	3.25%
Minimum [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Interest rate cap for loan				2.50%	2.50%
Mortgage Loans [Member] | Crowne Plaza Tampa Westshore [Member]
Debt Instrument [Line Items]
Floating interest rate period				1 month
Excess Interest rate over LIBOR on mortgage debt				3.75%
Fixed interest rate				3.75%
Debt instrument periodic payment				$ 23,100
Interest rate applicable to the mortgage loan				3.75%
Mortgage Loans [Member] | The DeSoto [Member]
Debt Instrument [Line Items]
Amortization Period				25 years
Interest-only payment period				1 year
Period before maturity in which prepayment is allowed with out penalty				120 days
Interest rate applicable to the mortgage loan				4.25%
Mortgage Loans [Member] | Double Tree by Hilton Jacksonville Riverfront [Member]
Debt Instrument [Line Items]
Amortization Period				30 years
Prepayment date before maturity in which prepayment is allowed with penalty				Mar. 31, 2024
Interest rate applicable to the mortgage loan				4.88%
Mortgage Loans [Member] | Double Tree by Hilton Jacksonville Riverfront [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt instrument prepayment date				Aug. 31, 2019
Mortgage Loans [Member] | Double Tree by Hilton Laurel [Member]
Debt Instrument [Line Items]
Amortization Period				25 years
Prepayment date before maturity in which prepayment is allowed with penalty				Apr. 30, 2021
Interest rate applicable to the mortgage loan				5.25%
Mortgage Loans [Member] | Double Tree By Hilton Philadelphia Airport [Member]
Debt Instrument [Line Items]
Floating interest rate period				1 month
Excess Interest rate over LIBOR on mortgage debt				2.27%
Amortization Period				30 years
Interest rate applicable to the mortgage loan				2.27%
Mortgage Loans [Member] | Double Tree By Hilton Philadelphia Airport [Member] | Interest Rate Swap [Member]
Debt Instrument [Line Items]
Loan rate swapped for fixed interest rate				5.237%
Mortgage Loans [Member] | Doubletree By Hilton Raleigh Brownstone - University [Member]
Debt Instrument [Line Items]
Floating interest rate period				1 month
Excess Interest rate over LIBOR on mortgage debt				4.00%
Proceeds of mortgage debt				$ 18,300,000
Additional proceeds from mortgage loans				$ 5,200,000
Debt instrument maturity term				4 years
Extended maturity period				P1Y
Debt instrument prepayment lockout period				12 months
Debt instrument prepayment penalty period				2 years
Derivative maturity limit				Aug. 1, 2022
Notional amount				$ 23,500,000
Interest rate applicable to the mortgage loan				4.00%
Mortgage Loans [Member] | Doubletree By Hilton Raleigh Brownstone - University [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Interest rate cap for loan				3.25%
Mortgage Loans [Member] | DoubleTree Resort by Hilton Hollywood Beach [Member]
Debt Instrument [Line Items]
Amortization Period				30 years
Debt instrument prepayment date				Jun. 30, 2025
Interest rate applicable to the mortgage loan				4.913%
Mortgage Loans [Member] | Georgian Terrace [Member]
Debt Instrument [Line Items]
Amortization Period				30 years
Debt instrument prepayment date				Feb. 28, 2025
Interest rate applicable to the mortgage loan				4.42%
Mortgage Loans [Member] | Hotel Ballast Wilmington,Tapestry Collection by Hilton [Member]
Debt Instrument [Line Items]
Amortization Period				25 years
Interest-only payment period				1 year
Period before maturity in which prepayment is allowed with out penalty				120 days
Interest rate applicable to the mortgage loan				4.25%
Mortgage Loans [Member] | Hyatt Centric Arlington [Member]
Debt Instrument [Line Items]
Amortization Period				30 years
Debt instrument prepayment lockout period				5 years
Debt instrument prepayment without penalty period during final term				4 months
Interest rate applicable to the mortgage loan				5.25%
Mortgage Loans [Member] | Hyatt Centric Arlington [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt instrument prepayment penalty period				10 years
Mortgage Loans [Member] | Hyatt Centric Arlington [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt instrument prepayment penalty period				6 years
Mortgage Loans [Member] | Sheraton Louisville Riverside [Member]
Debt Instrument [Line Items]
Amortization Period		25 years		25 years
Proceeds of mortgage debt		$ 12,000,000
Interest rate applicable to the mortgage loan				4.27%
Mortgage Loans [Member] | The Whitehall [Member]
Debt Instrument [Line Items]
Floating interest rate period				1 month
Excess Interest rate over LIBOR on mortgage debt				3.50%
Fixed interest rate				4.00%
Amortization Period	25 years			25 years
Interest rate applicable to the mortgage loan				3.50%
Mortgage Loans [Member] | The Whitehall [Member] | Prepayment Penalty Before to First Anniversary [Member]
Debt Instrument [Line Items]
Prepayment penalty percentage				3.00%
Mortgage Loans [Member] | The Whitehall [Member] | Prepayment Penalty Second Anniversary [Member]
Debt Instrument [Line Items]
Prepayment penalty percentage				2.00%
Mortgage Loans [Member] | The Whitehall [Member] | Prepayment Penalty After Third Anniversary
Debt Instrument [Line Items]
Prepayment penalty percentage				1.00%

Debt - Schedule of Future Mortg

Debt - Schedule of Future Mortgage Debt Maturities (Detail) - USD ($)	Dec. 31, 2018	Dec. 31, 2017	Oct. 12, 2016
Debt Disclosure [Abstract]
December 31, 2019	$ 24,301,062
December 31, 2020	6,161,782
December 31, 2021	14,362,532
December 31, 2022	24,752,732
December 31, 2023	60,594,053
December 31, 2024 and thereafter	237,441,719
Total future maturities	$ 367,613,880	$ 299,051,772	$ 20,500,000

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail)	Mar. 01, 2018USD ($)RenewalPeriod	Dec. 31, 2018USD ($)ft²RenewalPeriod	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 29, 2016USD ($)	Jan. 01, 2016USD ($)
Operating Leased Assets [Line Items]
Rent expense			$ 220,000
Maximum amount allocated to purchase common stock under ESOP					$ 5,000,000	$ 5,000,000
Crowne Plaza Houston Downtown [Member]
Operating Leased Assets [Line Items]
Franchise agreement expiry date		2016-04
Hilton Savannah DeSoto [Member]
Operating Leased Assets [Line Items]
Franchise agreement expiry date		2017-07
Hotel Ballast Wilmington,Tapestry Collection by Hilton [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
The 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
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
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
DoubleTree Resort by Hilton Hollywood Beach [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
Whitehall [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
Hyatt Centric Arlington [Member]
Operating Leased Assets [Line Items]
Monthly contribution of room revenues		4.00%
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		3.00%
Additional fees of gross revenues from the hotels		3.00%
Franchise agreement expiry date		2019-06
Maximum [Member]
Operating Leased Assets [Line Items]
Franchise fees of room revenues		5.00%
Additional fees of gross revenues from the hotels		4.00%
Franchise agreement expiry date		2030-10
Maximum [Member] | ESOP [Member]
Operating Leased Assets [Line Items]
Borrowed amount					$ 5,000,000
Highgate Hotels L.P [Member]
Operating Leased Assets [Line Items]
Intial terms of master management agreements		3 years
Master management agreement expiration date		Mar. 1, 2021
Chesapeake Hospitality [Member]
Operating Leased Assets [Line Items]
Expiry date of master management agreement		between January 1, 2020 and January 30, 2022, and may be extended for up to two additional periods of five years each subject to the approval of both parties.
Hyatt Centric Arlington [Member] | Franchise Agreement with Affiliate of Hyatt Hotels Corporation Operating as Hyatt Centric Arlington [Member]
Operating Leased Assets [Line Items]
Rent expense		$ 524,490
Rental payments per year in base rent under ground lease	$ 50,000	$ 50,000
Ground lease percentage rent on gross rooms revenues in excess of thresholds	3.50%	3.50%
Initial term of ground lease expires year	2025	2025
Number of additional renewal periods extended under ground lease | RenewalPeriod	5	5
Duration period under ground lease for each renewal periods extended	10 years	10 years
Williamsburg Virginia [Member]
Operating Leased Assets [Line Items]
Area of commercial space leased | ft²		5,216
Rent expense		$ 96,117	90,208	$ 91,003
Commencement date of agreement		Sep. 1, 2009
Lease renewable expiration date		Aug. 31, 2019
Hyde Resort and Residences in Hollywood Beach, Florida [Member]
Operating Leased Assets [Line Items]
Operating lease, expiring date		Feb. 28, 2037
Rent expense		$ 240,000
Lease agreement		20 years
Operating lease monthly payments		$ 20,000
Hilton Savannah DeSoto [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		$ 72,984	72,984	72,984
Crowne Plaza Tampa Westshore [Member]
Operating Leased Assets [Line Items]
Operating lease, expiring date		Jul. 31, 2019
Rent expense		$ 2,602	$ 2,602	$ 2,602
Lease agreement		5 years
Commencement date of agreement		Jul. 31, 2009
Annual payment		$ 2,432
Additional renewal of agreement		5 years
Furniture, Fixtures and Equipment [Member]
Operating Leased Assets [Line Items]
Financing arrangement expiration month and year		2019-10
Six Year Operating Lease Property [Member] | Hilton Savannah DeSoto [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 Contingencies_2

Commitments and Contingencies - Schedule of Minimum Future Lease Payments (Detail)	Dec. 31, 2018USD ($)
Operating Leases Future Minimum Payments Due [Abstract]
December 31, 2019	$ 475,343
December 31, 2020	364,163
December 31, 2021	354,639
December 31, 2022	351,464
December 31, 2023	351,464
December 31, 2024 and thereafter	3,568,701
Total	$ 5,465,774

Preferred Stock and Units - Add

Preferred Stock and Units - Additional Information (Detail) - USD ($)	Aug. 31, 2018	Aug. 23, 2016	Dec. 31, 2018	Sep. 30, 2018	Oct. 30, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Nov. 15, 2017	Sep. 30, 2016	Nov. 21, 2014
Preferred Units [Line Items]
Preferred stock, shares authorized			11,000,000			11,000,000	11,000,000
Proceeds from sale of preferred stock, net						$ 1,005,063	$ 30,488,660	$ 37,766,531
7.0% Senior Unsecured Notes [Member]
Preferred Units [Line Items]
Interest rate on loan									7.00%		7.00%
8.0% Senior Unsecured Notes [Member]
Preferred Units [Line Items]
Interest rate on loan										8.00%
Sotherly Hotels LP [Member]
Preferred Units [Line Items]
Proceeds from sale of preferred stock, net						$ 1,005,063	$ 30,488,660	$ 37,766,531
Sotherly Hotels LP [Member] | 7.0% Senior Unsecured Notes [Member]
Preferred Units [Line Items]
Interest rate on loan					7.00%
Sotherly Hotels LP [Member] | 8.0% Senior Unsecured Notes [Member]
Preferred Units [Line Items]
Interest rate on loan		8.00%
Sotherly Hotels LP [Member] | 7.875% Series C Cumulative Redeemable Perpetual Preferred Units [Member]
Preferred Units [Line Items]
Operating partnership preferred partnership units issued			52,141	52,141	1,300,000	52,141
Preferred units, dividend rate percentage			7.875%	7.875%	7.875%	7.875%	7.875%
Proceeds from sale of preferred units, net			$ 1,000,000	$ 1,000,000	$ 30,500,000
Preferred units, liquidation preference per units			$ 25		$ 25	$ 25	$ 25
Sotherly Hotels LP [Member] | 8% Series B Cumulative Redeemable Perpetual Preferred Units [Member]
Preferred Units [Line Items]
Operating partnership preferred partnership units issued		1,610,000
Preferred units, dividend rate percentage		8.00%				8.00%	8.00%
Proceeds from sale of preferred units, net		$ 37,800,000
Preferred units, par value		$ 0.01
Preferred units, liquidation preference per units		$ 25	$ 25			$ 25	$ 25
Sales Agency Agreement [Member] | Sandler O’Neill [Member]
Preferred Units [Line Items]
Preferred stock, par value	$ 0.01
8.0% Series B Cumulative Redeemable Perpetual Preferred Stock [Member]
Preferred Units [Line Items]
Preferred stock, shares authorized			11,000,000			11,000,000	11,000,000
Preferred stock, shares issued		1,610,000	1,610,000			1,610,000	1,610,000
Preferred stock, shares outstanding			1,610,000			1,610,000	1,610,000
Preferred stock, par value		$ 0.01	$ 0.01			$ 0.01	$ 0.01
Preferred stock, dividend rate percentage						8.00%	8.00%
Proceeds from sale of preferred stock, net		$ 37,800,000
Preferred stock, liquidation preference per share			$ 25			$ 25	$ 25
7.875% Series C Cumulative Redeemable Perpetual Preferred Stock [Member]
Preferred Units [Line Items]
Preferred stock, shares authorized			11,000,000			11,000,000	11,000,000
Preferred stock, shares issued			1,352,141		1,300,000	1,352,141	1,300,000
Preferred stock, shares outstanding			1,352,141			1,352,141	1,300,000
Preferred stock, par value			$ 0.01			$ 0.01	$ 0.01
Preferred stock, dividend rate percentage						7.875%	7.875%
Proceeds from sale of preferred stock, net					$ 30,500,000
Preferred stock, liquidation preference per share			$ 25			$ 25	$ 25
7.875% Series C Cumulative Redeemable Perpetual Preferred Stock [Member] | Sales Agency Agreement [Member] | Sandler O’Neill [Member]
Preferred Units [Line Items]
Preferred stock, par value	$ 0.01
Preferred stock, dividend rate percentage	787.50%
Preferred stock, shares sold						52,141
Proceeds from sale of preferred stock, net						$ 1,000,000
7.875% Series C Cumulative Redeemable Perpetual Preferred Stock [Member] | Maximum [Member] | Sales Agency Agreement [Member] | Sandler O’Neill [Member]
Preferred Units [Line Items]
Shares available for sale through sales agent	400,000

Preferred Stock and Units - Qua

Preferred Stock and Units - Quarterly Distributions Declared and Payable by Operating Partnership (Detail) - Sotherly Hotels LP [Member] - $ / shares	1 Months Ended	3 Months Ended
	Sep. 30, 2016	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016
8% Series B Cumulative Redeemable Perpetual Preferred Units [Member]
Class of Stock [Line Items]
Preferred dividend declared and payable	$ 0.2111	$ 0.50	$ 0.50	$ 0.50	$ 0.50		$ 0.50	$ 0.50	$ 0.50	$ 0.50	$ 0.50
7.875% Series C Cumulative Redeemable Perpetual Preferred Units [Member]
Class of Stock [Line Items]
Preferred dividend declared and payable		$ 0.4922	$ 0.4922	$ 0.4922	$ 0.4922	$ 0.4430

Common Stock and Units - Additi

Common Stock and Units - Additional Information (Detail)	Feb. 05, 2018shares	Jan. 01, 2018shares	Feb. 15, 2017shares	Dec. 02, 2016USD ($)$ / shares	Feb. 02, 2016shares	Feb. 01, 2016shares	Dec. 31, 2018USD ($)$ / sharesshares	Dec. 31, 2017USD ($)$ / sharesshares	Dec. 31, 2016USD ($)shares	Aug. 31, 2018USD ($)$ / shares
Class of Stock [Line Items]
Common stock, shares authorized							49,000,000	49,000,000
Common stock, par value | $ / shares				$ 0.01			$ 0.01	$ 0.01
Voting right							Each outstanding share of common stock entitles the holder to one vote on all matters submitted to a vote of stockholders.
Repurchased common stock, value | $							$ 0	$ 2,731,041	$ 3,164,536
Number of common stock shares repurchased							0	401,720	481,100
Proceeds from sale of common stock, net | $							$ 574,174
Common stock, shares outstanding							14,209,378	14,078,831
Common stock exchange ratio							1
Operating Partnership common units not owned							1,778,140	1,778,140
Sotherly Hotels LP [Member]
Class of Stock [Line Items]
Proceeds from sale of common stock, net | $							$ 574,174
Repurchased common units, number of units							0	401,720	481,100
Repurchased common units | $							$ 0	$ 2,731,041	$ 3,164,536
Operating Partnership common units outstanding							15,987,518	15,856,971
Fair market value | $							$ 10,000,000	$ 11,500,000
Common Stock [Member]
Class of Stock [Line Items]
Repurchased common stock, value | $								$ 4,017	$ 4,811
Number of common stock shares repurchased								401,720	481,100
Stock issued during period							88,297
Restricted shares issued							40,000	12,000	12,000
Conversion of units in Operating Partnership to shares of common stock, shares						422,687			422,687
Common Stock [Member] | Executive Officer [Member]
Class of Stock [Line Items]
Non-restricted shares issued					22,000
Common Stock [Member] | Director [Member]
Class of Stock [Line Items]
Restricted shares issued					12,000
Non-restricted shares issued					2,250
Common Stock [Member] | Sotherly Hotels LP [Member]
Class of Stock [Line Items]
Number of issued unit in Operating Partnership	17,250	25,000	12,000		36,250
Restricted shares issued	15,000	25,000	12,000
Non-restricted shares issued	2,250
Sales Agency Agreement [Member] | Sandler O’Neill [Member]
Class of Stock [Line Items]
Common stock, par value | $ / shares										$ 0.01
Aggregate gross sale price of common stock | $										$ 5,000,000
Proceeds from sale of common stock, net | $							$ 600,000
Sales Agency Agreement [Member] | Sandler O’Neill [Member] | Common Stock [Member]
Class of Stock [Line Items]
Common stock, par value | $ / shares										$ 0.01
Aggregate gross sale price of common stock | $										$ 5,000,000
Stock issued during period							88,297
Maximum [Member]
Class of Stock [Line Items]
Repurchased common stock, value | $				$ 10,000,000

Common Stock and Units - Quarte

Common Stock and Units - Quarterly Stock Dividends and Unit Distributions Declared and Payable Per Common Stock/Unit (Detail) - $ / shares	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016
Sotherly Hotels LP [Member]
Class of Stock [Line Items]
Dividends payable amount per share	$ 0.125	$ 0.125	$ 0.120	$ 0.115	$ 0.110	$ 0.110	$ 0.105	$ 0.100	$ 0.095	$ 0.095	$ 0.090	$ 0.085

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($)	Feb. 01, 2016	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Related Party Transaction [Line Items]
Accounts receivable - affiliate		$ 262,572	$ 394,026
Andrew M. Sims [Member] | Chesapeake Hospitality [Member]
Related Party Transaction [Line Items]
Percentage of total outstanding ownership interests		19.3375%
Kim E. Sims [Member] | Chesapeake Hospitality [Member]
Related Party Transaction [Line Items]
Percentage of total outstanding ownership interests		20.00%
Christopher L. Sims [Member] | Chesapeake Hospitality [Member]
Related Party Transaction [Line Items]
Percentage of total outstanding ownership interests		20.00%
Chesapeake Hospitality [Member]
Related Party Transaction [Line Items]
Accounts receivable - affiliate		$ 91,987	113,669
Agreement term		5 years
Base management fees earned by related party		$ 4,617,471	4,044,059	$ 3,828,896
Incentive management fees earned by related party		168,231	126,918	36,466
Employee medical benefits paid		5,050,304	4,801,599	4,606,967
Workers' compensation insurance premium paid		$ 919,642	1,017,294	0
Chesapeake Hospitality [Member] | Fiscal Year 2017 [Member]
Related Party Transaction [Line Items]
Percentage of management fee due		2.65%
Chesapeake Hospitality [Member] | Fiscal Year 2017 and Thereafter [Member]
Related Party Transaction [Line Items]
Percentage of management fee due		2.50%
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%
Chesapeake Hospitality [Member] | Whitehall and Georgian Terrace Hotel [Member] | Fiscal Year 2015 [Member]
Related Party Transaction [Line Items]
Percentage of management fee due		2.00%
Chesapeake Hospitality [Member] | Whitehall and Georgian Terrace Hotel [Member] | Fiscal Year 2016 [Member]
Related Party Transaction [Line Items]
Percentage of management fee due		2.25%
Chesapeake Hospitality [Member] | Whitehall and Georgian Terrace Hotel [Member] | Fiscal Year Thereafter [Member]
Related Party Transaction [Line Items]
Percentage of management fee due		2.50%
Sotherly Foundation [Member]
Related Party Transaction [Line Items]
Amount loaned to related party					$ 180,000
Loan receivable outstanding		$ 0	40,000
Immediate Family Members of Chief Executive Officer [Member]
Related Party Transaction [Line Items]
Total compensation for related parties		386,456	304,737	291,508
Director [Member]
Related Party Transaction [Line Items]
Conversion of units in Operating Partnership to shares of common stock, shares	322,687
Partnership controlled by Chief Executive Officer [Member]
Related Party Transaction [Line Items]
Business-related air travel expense reimbursed to partnership		$ 146,105	$ 178,345	$ 123,866
Previous Director [Member]
Related Party Transaction [Line Items]
Conversion of units in Operating Partnership to shares of common stock, shares	100,000

Retirement Plans - Additional I

Retirement Plans - Additional Information (Detail) - USD ($)	2 Months Ended	12 Months Ended
	Feb. 28, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 29, 2016	Jan. 01, 2016
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		$ 71,623	$ 67,273	$ 63,944
Maximum amount allocated to purchase common stock under ESOP					$ 5,000,000	$ 5,000,000
Number of common stock, shares purchased	682,500
Purchased common stock, value	$ 4,900,000		$ 4,874,758

Retirement Plans - Summary of S

Retirement Plans - Summary of Shares Allocations are Accounted For Fair Value on The Date of Allocations (Detail) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Compensation And Retirement Disclosure [Abstract]
Number of ESOP shares allocated	33,832	9,473
Number of ESOP shares committed to be released	35,474	24,359
Total number of ESOP allocated and committed-to-be-released	69,306	33,832
Number of non committed, unearned ESOP shares	613,194	648,668
Total number of ESOP shares	682,500	682,500
Fair value of ESOP allocated shares	$ 189,798	$ 64,321
Fair value of ESOP Committed-to-be released shares	199,007	157,117
Total fair value of ESOP allocated and committed-to-be-released	388,805	221,438
Fair value of ESOP unallocated shares	3,440,020	4,183,908
Total fair value of ESOP shares	$ 3,828,825	$ 4,405,346

Indirect Hotel Operating Expe_3

Indirect Hotel Operating Expenses - Summary of Indirect Hotel Operating Expenses (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	$ 65,645,500	$ 57,612,203	$ 57,736,937
Sales and Marketing [Member]
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	15,998,281	13,843,578	13,537,887
General and Administrative [Member]
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	14,581,707	12,949,596	12,135,835
Repairs and Maintenance [Member]
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	7,624,031	6,828,963	7,314,178
Utilities [Member]
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	6,266,192	5,820,589	6,429,686
Property Taxes [Member]
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	6,225,508	5,729,464	5,983,280
Management Fees, Including Incentive [Member]
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	4,785,702	4,170,977	3,865,362
Franchise Fees [Member]
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	4,308,065	3,877,231	4,091,729
Insurance [Member]
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	2,894,708	2,446,269	2,594,783
Information and Telecommunications [Member]
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	2,142,698	1,647,728	1,679,603
Other [Member]
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	$ 818,608	$ 297,808	$ 104,594

Income Taxes - Components of In

Income Taxes - Components of Income Tax (Benefit) Provision (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Current:
State	$ 149,410	$ 239,582	$ 191,332
Total	149,410	239,582	191,332
Deferred:
Federal	351,663	1,661,153	(1,294,408)
State	(31,724)	(162,931)	(264,558)
Total	319,939	1,498,222	(1,558,966)
Income tax (benefit) provision	$ 469,349	$ 1,737,804	$ (1,367,634)

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Statutory Federal Income Tax Provision (Benefit) (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Statutory federal income tax provision (benefit)	$ (29,150)	$ 600,880	$ (158,859)
Effect of non-taxable REIT loss	380,813	(1,621,526)	(1,135,549)
Effect of change in federal income tax rate on net deferred tax assets		2,681,800
State income tax provision (benefit)	117,686	76,650	(73,226)
Income tax (benefit) provision	$ 469,349	$ 1,737,804	$ (1,367,634)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Income Taxes [Line Items]
Deferred tax asset	$ 5,131,179	$ 5,451,118
Accumulated net operating losses	$ 4,400,000
Loss carryforwards, expired	2028
Deferred tax asset nondeductible accrued expenses	$ 700,000	600,000
Reduction in deferred tax assets due to change in federal income tax rate	2,700,000
TRS Lessee [Member]
Income Taxes [Line Items]
Accumulated net operating losses	$ 4,400,000	$ 4,900,000

Loss per Share and per Unit - A

Loss per Share and per Unit - Additional Information (Detail) - shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Earnings Per Share [Line Items]
Number of non-committed, unearned ESOP shares	613,194	648,668
ESOP [Member]
Earnings Per Share [Line Items]
Number of ESOP units	0	0

Loss per Share and per Unit - C

Loss per Share and per Unit - Computation of Basic Net Loss Per Share (Detail) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Numerator
Net loss available to common stockholders for basic and diluted computation	$ (3,768,166)	$ (3,065,883)	$ 1,352,414	$ (238,343)	$ (3,936,522)	$ (1,550,555)	$ 296,850	$ 1,851,090	$ (5,719,978)	$ (3,339,136)	$ (218,173)
Denominator
Weighted average number of common shares outstanding									14,145,838	14,445,865	14,896,994
Weighted average number of Unearned ESOP Shares									(628,350)	(616,765)
Total weighted average number of common shares outstanding for basic computation									13,517,488	13,829,100	14,896,994
Basic net loss per share									$ (0.42)	$ (0.24)	$ (0.01)

Loss per Share and per Unit -_2

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, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Schedule Of Computation Of Basic And Diluted Earnings Per Common Share [Line Items]
Net loss available to common unitholders for basic computation	$ (4,240,961)	$ (3,451,499)	$ 1,522,745	$ (268,356)	$ (4,422,903)	$ (1,741,000)	$ 310,795	$ 2,100,958
Sotherly Hotels LP [Member]
Schedule Of Computation Of Basic And Diluted Earnings Per Common Share [Line Items]
Net loss available to common unitholders for basic computation									$ (6,438,071)	$ (3,752,150)	$ (244,740)
Weighted average number of units outstanding									15,923,978	16,224,005	16,710,935
Basic net loss per unit									$ (0.40)	$ (0.23)	$ (0.01)

Quarterly Operating Results -_3

Quarterly Operating Results - Unaudited - Quarterly Operating Results (Detail) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Total revenue	$ 43,465,976	$ 41,418,062	$ 51,553,527	$ 41,735,556	$ 38,159,704	$ 36,769,471	$ 40,642,632	$ 38,694,886
Total operating expenses	40,451,053	38,298,919	42,275,569	37,041,269	35,339,712	34,595,193	35,178,717	32,989,182	$ 158,066,810	$ 138,102,805	$ 134,238,626
Net operating income	3,014,923	3,119,143	9,277,958	4,694,287	2,819,992	2,174,278	5,463,915	5,705,704	20,106,311	16,163,888	18,607,126
Net income (loss)	(2,770,454)	(1,981,780)	2,967,589	1,176,488	(3,056,262)	(936,000)	1,135,719	2,886,032	(608,157)	29,489	900,149
Net income (loss) attributable to common shareholders	$ (3,768,166)	$ (3,065,883)	$ 1,352,414	$ (238,343)	$ (3,936,522)	$ (1,550,555)	$ 296,850	$ 1,851,090	$ (5,719,978)	$ (3,339,136)	$ (218,173)
Earnings (loss) per share attributable to common shareholders– basic and diluted	$ (0.28)	$ (0.23)	$ 0.10	$ (0.02)	$ (0.29)	$ (0.11)	$ 0.02	$ 0.13
Net income (loss) available to operating partnership unitholders	$ (4,240,961)	$ (3,451,499)	$ 1,522,745	$ (268,356)	$ (4,422,903)	$ (1,741,000)	$ 310,795	$ 2,100,958
Basic and diluted	$ (0.27)	$ (0.22)	$ 0.10	$ (0.02)	$ (0.27)	$ (0.11)	$ 0.02	$ 0.13

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - Subsequent Event [Member] - $ / shares	Jan. 28, 2019	Jan. 15, 2019	Jan. 11, 2019
Subsequent Event [Line Items]
Dividend paid			$ 0.125
Dividend record date	Mar. 15, 2019		Dec. 14, 2018
Dividend distributed	$ 0.125
Dividend payment date	Apr. 11, 2019
7.875% Series C Cumulative Redeemable Perpetual Preferred Stock [Member]
Subsequent Event [Line Items]
Dividend record date	Apr. 1, 2019	Dec. 31, 2018
Dividend paid		$ 0.4922
Dividend payment date	Apr. 15, 2019
Preferred dividend distributed	$ 0.4922
8% Series B Cumulative Redeemable Perpetual Preferred Stock [Member]
Subsequent Event [Line Items]
Dividend record date	Apr. 1, 2019	Dec. 31, 2018
Dividend paid		$ 0.50
Dividend payment date	Apr. 15, 2019
Preferred dividend distributed	$ 0.50

Schedule III - Real Estate an_2

Schedule III - Real Estate and Accumulated Depreciation - Real Estate and Accumulated Depreciation (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 367,614
Initial Costs, Land	58,009
Initial Costs, Building & Improvements	310,336
Costs Capitalized Subsequent to Acquisition, Land	6,401
Costs Capitalized Subsequent to Acquisition, Building & Improvements	114,321
Gross Amount at End of Year, Land	64,410
Gross Amount at End of Year, Building & Improvements	424,657
Gross Amount at End of Year, Total	489,067	$ 408,037	$ 402,189
Accumulated Depreciation & Impairment	$ (85,655)
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	$ 18,307
Initial Costs, Land	4,153
Initial Costs, Building & Improvements	9,670
Costs Capitalized Subsequent to Acquisition, Land	654
Costs Capitalized Subsequent to Acquisition, Building & Improvements	26,553
Gross Amount at End of Year, Land	4,807
Gross Amount at End of Year, Building & Improvements	36,223
Gross Amount at End of Year, Total	41,030
Accumulated Depreciation & Impairment	$ (10,060)
Date of Construction	1973
Date Acquired	2007
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
The DeSoto – Savannah, Georgia [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Description	The DeSoto – Savannah, Georgia
Encumbrances	$ 33,824
Initial Costs, Land	600
Initial Costs, Building & Improvements	13,562
Costs Capitalized Subsequent to Acquisition, Land	668
Costs Capitalized Subsequent to Acquisition, Building & Improvements	17,656
Gross Amount at End of Year, Land	1,268
Gross Amount at End of Year, Building & Improvements	31,218
Gross Amount at End of Year, Total	32,486
Accumulated Depreciation & Impairment	$ (10,347)
Date of Construction	1968
Date Acquired	2004
The DeSoto – Savannah, Georgia [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	3 years
The DeSoto – Savannah, Georgia [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	39 years
DoubleTree by Hilton Jacksonville Riverfront – Jacksonville, Florida [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Description	DoubleTree by Hilton Jacksonville Riverfront – Jacksonville, Florida
Encumbrances	$ 34,774
Initial Costs, Land	7,090
Initial Costs, Building & Improvements	14,604
Costs Capitalized Subsequent to Acquisition, Land	157
Costs Capitalized Subsequent to Acquisition, Building & Improvements	7,378
Gross Amount at End of Year, Land	7,247
Gross Amount at End of Year, Building & Improvements	21,982
Gross Amount at End of Year, Total	29,229
Accumulated Depreciation & Impairment	$ (7,554)
Date of Construction	1970
Date Acquired	2005
DoubleTree by Hilton Jacksonville Riverfront – Jacksonville, Florida [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	3 years
DoubleTree by Hilton Jacksonville Riverfront – Jacksonville, Florida [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	39 years
DoubleTree by Hilton Laurel – Laurel, Maryland [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Description	DoubleTree by Hilton Laurel – Laurel, Maryland
Encumbrances	$ 8,845
Initial Costs, Land	900
Initial Costs, Building & Improvements	9,443
Costs Capitalized Subsequent to Acquisition, Land	65
Costs Capitalized Subsequent to Acquisition, Building & Improvements	5,695
Gross Amount at End of Year, Land	965
Gross Amount at End of Year, Building & Improvements	15,138
Gross Amount at End of Year, Total	16,103
Accumulated Depreciation & Impairment	$ (4,744)
Date of Construction	1985
Date Acquired	2004
DoubleTree by Hilton Laurel – Laurel, Maryland [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	3 years
DoubleTree by Hilton Laurel – Laurel, Maryland [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	39 years
DoubleTree by Hilton Philadelphia Airport – Philadelphia, Pennsylvania [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Description	DoubleTree by Hilton Philadelphia Airport – Philadelphia, Pennsylvania
Encumbrances	$ 42,027
Initial Costs, Land	2,100
Initial Costs, Building & Improvements	22,031
Costs Capitalized Subsequent to Acquisition, Land	390
Costs Capitalized Subsequent to Acquisition, Building & Improvements	6,118
Gross Amount at End of Year, Land	2,490
Gross Amount at End of Year, Building & Improvements	28,149
Gross Amount at End of Year, Total	30,639
Accumulated Depreciation & Impairment	$ (10,090)
Date of Construction	1972
Date Acquired	2004
DoubleTree by Hilton Philadelphia Airport – Philadelphia, Pennsylvania [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	3 years
DoubleTree by Hilton Philadelphia Airport – Philadelphia, Pennsylvania [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	39 years
DoubleTree 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	$ 18,300
Initial Costs, Land	815
Initial Costs, Building & Improvements	7,416
Costs Capitalized Subsequent to Acquisition, Land	3,814
Costs Capitalized Subsequent to Acquisition, Building & Improvements	6,265
Gross Amount at End of Year, Land	4,629
Gross Amount at End of Year, Building & Improvements	13,681
Gross Amount at End of Year, Total	18,310
Accumulated Depreciation & Impairment	$ (5,859)
Date of Construction	1971
Date Acquired	2004
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
DoubleTree Resort by Hilton Hollywood Beach - Hollywood Beach Florida [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Description	DoubleTree Resort by Hilton Hollywood Beach - Hollywood Beach, Florida
Encumbrances	$ 57,065
Initial Costs, Land	22,865
Initial Costs, Building & Improvements	67,660
Costs Capitalized Subsequent to Acquisition, Land	439
Costs Capitalized Subsequent to Acquisition, Building & Improvements	3,117
Gross Amount at End of Year, Land	23,304
Gross Amount at End of Year, Building & Improvements	70,777
Gross Amount at End of Year, Total	94,081
Accumulated Depreciation & Impairment	$ (6,353)
Date of Construction	1972
Date Acquired	2015
DoubleTree Resort by Hilton Hollywood Beach - Hollywood Beach Florida [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	3 years
DoubleTree Resort by Hilton Hollywood Beach - Hollywood Beach Florida [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	39 years
Georgian Terrace – Atlanta, Georgia [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Description	Georgian Terrace – Atlanta, Georgia
Encumbrances	$ 44,203
Initial Costs, Land	10,128
Initial Costs, Building & Improvements	45,386
Costs Capitalized Subsequent to Acquisition, Land	(1,305)
Costs Capitalized Subsequent to Acquisition, Building & Improvements	5,641
Gross Amount at End of Year, Land	8,823
Gross Amount at End of Year, Building & Improvements	51,027
Gross Amount at End of Year, Total	59,850
Accumulated Depreciation & Impairment	$ (6,735)
Date of Construction	1911
Date Acquired	2014
Georgian Terrace – Atlanta, Georgia [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	3 years
Georgian Terrace – Atlanta, Georgia [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	39 years
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	$ 34,236
Initial Costs, Land	785
Initial Costs, Building & Improvements	16,829
Costs Capitalized Subsequent to Acquisition, Land	1,124
Costs Capitalized Subsequent to Acquisition, Building & Improvements	14,278
Gross Amount at End of Year, Land	1,909
Gross Amount at End of Year, Building & Improvements	31,107
Gross Amount at End of Year, Total	33,016
Accumulated Depreciation & Impairment	$ (11,854)
Date of Construction	1970
Date Acquired	2004
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
Hyatt Centric Arlington - Arlington, Virginia [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Description	Hyatt Centric Arlington - Arlington, Virginia
Encumbrances	$ 49,885
Initial Costs, Land	191
Initial Costs, Building & Improvements	70,369
Costs Capitalized Subsequent to Acquisition, Building & Improvements	477
Gross Amount at End of Year, Land	191
Gross Amount at End of Year, Building & Improvements	70,846
Gross Amount at End of Year, Total	71,037
Accumulated Depreciation & Impairment	$ (1,521)
Date Acquired	2018
Hyatt Centric Arlington - Arlington, Virginia [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	3 years
Hyatt Centric Arlington - Arlington, Virginia [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	39 years
Sheraton Louisville Riverside – Jeffersonville, Indiana [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Description	Sheraton Louisville Riverside – Jeffersonville, Indiana
Encumbrances	$ 11,414
Initial Costs, Land	782
Initial Costs, Building & Improvements	6,891
Costs Capitalized Subsequent to Acquisition, Land	289
Costs Capitalized Subsequent to Acquisition, Building & Improvements	14,738
Gross Amount at End of Year, Land	1,071
Gross Amount at End of Year, Building & Improvements	21,629
Gross Amount at End of Year, Total	22,700
Accumulated Depreciation & Impairment	$ (6,314)
Date of Construction	1972
Date Acquired	2006
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
The Whitehall – Houston, Texas [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Description	The Whitehall – Houston, Texas
Encumbrances	$ 14,734
Initial Costs, Land	7,374
Initial Costs, Building & Improvements	22,185
Costs Capitalized Subsequent to Acquisition, Land	106
Costs Capitalized Subsequent to Acquisition, Building & Improvements	6,405
Gross Amount at End of Year, Land	7,480
Gross Amount at End of Year, Building & Improvements	28,590
Gross Amount at End of Year, Total	36,070
Accumulated Depreciation & Impairment	$ (4,013)
Date of Construction	1963
Date Acquired	2013
The Whitehall – Houston, Texas [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	3 years
The Whitehall – Houston, Texas [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	39 years
The Hyde Resort [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Description	The Hyde Resort
Initial Costs, Land	$ 226
Initial Costs, Building & Improvements	4,290
Gross Amount at End of Year, Land	226
Gross Amount at End of Year, Building & Improvements	4,290
Gross Amount at End of Year, Total	4,516
Accumulated Depreciation & Impairment	$ (211)
Date of Construction	2016
Date Acquired	2017
The Hyde Resort [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	3 years
The Hyde Resort [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	39 years

Schedule III - Real Estate an_3

Schedule III - Real Estate and Accumulated Depreciation - Real Estate and Accumulated Depreciation (Parenthetical) (Detail) $ in Millions	Dec. 31, 2018USD ($)
Real Estate And Accumulated Depreciation Disclosure [Abstract]
Aggregate cost of our real estate assets for federal income tax	$ 478.5

Schedule III - Real Estate an_4

Schedule III - Real Estate and Accumulated Depreciation - Reconciliation of Real Estate and Accumulated Depreciation (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Reconciliation of Real Estate
Beginning Balance	$ 408,037,000	$ 402,189,000
Acquisitions	71,037,000	4,516,000
Improvements	14,355,000	13,713,000
Disposal of Assets	(4,362,000)	(12,381,000)
Ending Balance	489,067,000	408,037,000
Reconciliation of Accumulated Depreciation
Beginning Balance	75,111,000	68,506,000
Current Expense	14,787,000	9,933,000
Impairment	0	0
Disposal of Assets	(4,243,000)	(3,328,000)
Ending Balance	$ 85,655,000	$ 75,111,000