Sotherly Hotels (SOHO) 10-Q 8 Aug 19 2019 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2019	Aug. 02, 2019
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Trading Symbol	SOHO
Entity Registrant Name	SOTHERLY HOTELS INC.
Entity Central Index Key	0001301236
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Shell Company	false
Entity File Number	001-32379
Entity Tax Identification Number	201531029
Entity Address, Address Line One	410 West Francis Street
Entity Address, City or Town	Williamsburg
Entity Address, State or Province	Virginia
Entity Address, Postal Zip Code	23185
City Area Code	757
Local Phone Number	229-5648
Entity Common Stock, Shares Outstanding		14,222,378
Sotherly Hotels LP [Member]
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Entity Registrant Name	SOTHERLY HOTELS LP
Entity Central Index Key	0001301236
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity File Number	001-36091
Entity Tax Identification Number	201965427
Entity Address, Address Line One	410 West Francis Street
Entity Address, City or Town	Williamsburg
Entity Address, State or Province	Virginia
Entity Address, Postal Zip Code	23185
City Area Code	757
Local Phone Number	229-5648

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Jun. 30, 2019	Dec. 31, 2018
ASSETS
Investment in hotel properties, net	$ 436,509,664	$ 435,725,814
Cash and cash equivalents	32,402,174	33,792,773
Restricted cash	4,936,628	4,075,508
Accounts receivable, net	9,610,320	6,766,696
Accounts receivable - affiliate	95,392	262,572
Prepaid expenses, inventory and other assets	5,594,024	5,262,884
Favorable lease assets, net		2,465,421
Deferred income taxes	3,976,235	5,131,179
TOTAL ASSETS	493,124,437	493,482,847
LIABILITIES
Mortgage loans, net	362,062,982	364,828,845
Unsecured notes, net		23,894,658
Accounts payable and accrued liabilities	20,700,490	16,268,096
Advance deposits	2,000,943	2,815,283
Dividends and distributions payable	3,993,966	3,409,593
TOTAL LIABILITIES	388,758,381	411,216,475
Commitments and contingencies (See Note 6)
Sotherly Hotels Inc. stockholders’ equity
Common stock, par value $0.01, 49,000,000 shares authorized, 14,222,378 shares and 14,209,378 shares issued and outstanding at June 30, 2019 and December 31, 2018, respectively.	142,223	142,093
Additional paid-in capital	175,557,743	147,085,112
Unearned ESOP shares	(4,245,348)	(4,379,742)
Distributions in excess of retained earnings	(66,820,158)	(61,052,418)
Total Sotherly Hotels Inc. stockholders’ equity	104,676,081	81,824,666
Noncontrolling interest	(310,025)	441,706
TOTAL EQUITY	104,366,056	82,266,372
TOTAL LIABILITIES AND EQUITY	493,124,437	493,482,847
Sotherly Hotels LP [Member]
ASSETS
Investment in hotel properties, net	436,509,664	435,725,814
Cash and cash equivalents	32,402,174	33,792,773
Restricted cash	4,936,628	4,075,508
Accounts receivable, net	9,610,320	6,766,696
Accounts receivable - affiliate	95,392	262,572
Loan receivable - affiliate	4,331,639	4,446,410
Prepaid expenses, inventory and other assets	5,594,024	5,262,884
Favorable lease assets, net		2,465,421
Deferred income taxes	3,976,235	5,131,179
TOTAL ASSETS	497,456,076	497,929,257
LIABILITIES
Mortgage loans, net	362,062,982	364,828,845
Unsecured notes, net		23,894,658
Accounts payable and accrued liabilities	20,700,490	16,268,100
Advance deposits	2,000,943	2,815,283
Dividends and distributions payable	4,052,449	3,466,136
TOTAL LIABILITIES	388,816,864	411,273,022
Commitments and contingencies (See Note 6)
PARTNERS’ CAPITAL
General Partner: 160,006 units and 159,876 units issued and outstanding as of June 30, 2019 and December 31, 2018, respectively	394,620	452,165
Limited Partners: 15,840,512 units and 15,827,642 units issued and outstanding as of June 30, 2019 and December 31, 2018, respectively	10,606,819	16,943,816
TOTAL PARTNERS’ CAPITAL	108,639,212	86,656,235
Sotherly Hotels Inc. stockholders’ equity
TOTAL LIABILITIES AND EQUITY	497,456,076	497,929,257
Sotherly Hotels LP [Member] | 8% Series B Cumulative Redeemable Perpetual Preferred Units [Member]
PARTNERS’ CAPITAL
Preferred units, 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, 11,000,000 units authorized;	31,493,723	31,493,723
Sotherly Hotels LP [Member] | 8.25% Series D Cumulative Redeemable Perpetual Preferred Stock [Member]
PARTNERS’ CAPITAL
Preferred units, 11,000,000 units authorized;	28,377,519
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	$ 13,521
8.25% Series D Cumulative Redeemable Perpetual Preferred Stock [Member]
Sotherly Hotels Inc. stockholders’ equity
Preferred stock, $0.01 par value, 11,000,000 shares authorized;	$ 12,000

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	1 Months Ended	6 Months Ended	12 Months Ended
	Dec. 31, 2018	Jun. 30, 2019	Dec. 31, 2018
Preferred stock, shares authorized	11,000,000	11,000,000	11,000,000
Preferred stock, liquidation preference per share	$ 25	$ 25	$ 25
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	14,222,378	14,209,378
Common stock, shares outstanding	14,209,378	14,222,378	14,209,378
Sotherly Hotels LP [Member]
Preferred stock, liquidation preference per share	$ 25	$ 25	$ 25
General Partner, units issued	159,876	160,006	159,876
General Partner, units outstanding	159,876	160,006	159,876
Limited Partner, units issued	15,827,642	15,840,512	15,827,642
Limited Partner, units outstanding	15,827,642	15,840,512	15,827,642
Sotherly Hotels LP [Member] | 8% Series B Cumulative Redeemable Perpetual Preferred Units [Member]
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, 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	1,352,141
Preferred units, outstanding	1,352,141	1,352,141	1,352,141
Sotherly Hotels LP [Member] | 8.25% Series D Cumulative Redeemable Perpetual Preferred Units [Member]
Preferred units, authorized	11,000,000	11,000,000	11,000,000
Preferred units, dividend rate percentage		8.25%	8.25%
Preferred units, liquidation preference per units	$ 25	$ 25	$ 25
Preferred units, issued	0	1,200,000	0
Preferred units, outstanding	0	1,200,000	0
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	1,352,141
Preferred stock, shares outstanding	1,352,141	1,352,141	1,352,141
8.25% Series D 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		8.25%	8.25%
Preferred stock, liquidation preference per share	$ 25	$ 25	$ 25
Preferred stock, shares issued	0	1,200,000	0
Preferred stock, shares outstanding	0	1,200,000	0

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
REVENUE
Total revenue	$ 51,540,701	$ 51,553,527	$ 98,931,007	$ 93,289,083
Hotel operating expenses
Total hotel operating expenses	35,958,755	35,170,080	70,176,842	65,027,120
Depreciation and amortization	5,108,375	5,601,940	11,137,110	11,236,130
Loss on disposal of assets	31,179		27,171	3,739
Corporate general and administrative	1,554,934	1,503,549	3,239,378	3,049,849
Total operating expenses	42,653,243	42,275,569	84,580,501	79,316,838
NET OPERATING INCOME	8,887,458	9,277,958	14,350,506	13,972,245
Other income (expense)
Interest expense	(5,088,121)	(5,087,482)	(10,393,235)	(9,264,501)
Interest income	155,512	66,505	254,808	148,209
Loss on early extinguishment of debt	(1,152,356)		(1,152,356)
Unrealized (loss) gain on hedging activities	(837,822)	5,798	(1,328,432)	18,528
Gain on involuntary conversion of assets	0	27,824	161,334	898,565
Net income before income taxes	1,964,671	4,290,603	1,892,625	5,773,046
Income tax provision	(815,356)	(1,323,014)	(1,133,513)	(1,628,969)
Net income	1,149,315	2,967,589	759,112	4,144,077
Less: Net (income) loss attributable to noncontrolling interest	91,356	(170,331)	298,305	(140,318)
Net income attributable to the Company	1,240,671	2,797,258	1,057,417	4,003,759
Distributions to preferred stockholders	(1,972,382)	(1,444,844)	(3,442,890)	(2,889,688)
Net (loss) income available to common stockholders	$ (731,711)	$ 1,352,414	$ (2,385,473)	$ 1,114,071
Net (loss) income per share attributable to common stockholders/operating partner unit
Basic	$ (0.05)	$ 0.10	$ (0.18)	$ 0.08
Diluted	$ (0.05)	$ 0.10	$ (0.18)	$ 0.08
Weighted average number of common shares/operating partner units outstanding
Basic	13,626,435	13,488,526	13,618,688	13,480,529
Diluted	13,626,435	13,489,475	13,618,688	13,486,140
Sotherly Hotels LP [Member]
REVENUE
Total revenue	$ 51,540,701	$ 51,553,527	$ 98,931,007	$ 93,289,083
Hotel operating expenses
Total hotel operating expenses	35,958,755	35,170,080	70,176,842	65,027,120
Depreciation and amortization	5,108,375	5,601,940	11,137,110	11,236,130
Loss on disposal of assets	31,179		27,171	3,739
Corporate general and administrative	1,554,934	1,503,549	3,239,378	3,049,849
Total operating expenses	42,653,243	42,275,569	84,580,501	79,316,838
NET OPERATING INCOME	8,887,458	9,277,958	14,350,506	13,972,245
Other income (expense)
Interest expense	(5,088,121)	(5,087,482)	(10,393,235)	(9,264,501)
Interest income	155,512	66,505	254,808	148,209
Loss on early extinguishment of debt	(1,152,356)		(1,152,356)
Unrealized (loss) gain on hedging activities	(837,822)	5,798	(1,328,432)	18,528
Gain on involuntary conversion of assets		27,824	161,334	898,565
Net income before income taxes	1,964,671	4,290,603	1,892,625	5,773,046
Income tax provision	(815,356)	(1,323,014)	(1,133,513)	(1,628,969)
Net income	1,149,315	2,967,589	759,112	4,144,077
Distributions To Preferred Unit Holders	(1,972,382)	(1,444,844)	(3,442,890)	(2,889,688)
Net Income Loss Attributable To Operating Partnership Unit Holders	$ (823,067)	$ 1,522,745	$ (2,683,778)	$ 1,254,389
Net (loss) income per share attributable to common stockholders/operating partner unit
Basic and diluted	$ (0.05)	$ 0.10	$ (0.17)	$ 0.08
Weighted average number of common shares/operating partner units outstanding
Basic and diluted	16,000,518	15,899,221	15,997,558	15,895,885
Rooms Department [Member]
REVENUE
Total revenue	$ 36,356,324	$ 35,330,676	$ 69,308,196	$ 63,616,121
Hotel operating expenses
Total hotel operating expenses	8,418,413	8,176,164	16,199,852	14,876,545
Rooms Department [Member] | Sotherly Hotels LP [Member]
REVENUE
Total revenue	36,356,324	35,330,676	69,308,196	63,616,121
Hotel operating expenses
Total hotel operating expenses	8,418,413	8,176,164	16,199,852	14,876,545
Food and Beverage Department [Member]
REVENUE
Total revenue	10,863,633	11,080,568	20,586,757	19,432,551
Hotel operating expenses
Total hotel operating expenses	7,621,331	7,673,049	14,758,164	14,068,125
Food and Beverage Department [Member] | Sotherly Hotels LP [Member]
REVENUE
Total revenue	10,863,633	11,080,568	20,586,757	19,432,551
Hotel operating expenses
Total hotel operating expenses	7,621,331	7,673,049	14,758,164	14,068,125
Other Operating Departments [Member]
REVENUE
Total revenue	4,320,744	5,142,283	9,036,054	10,240,411
Hotel operating expenses
Total hotel operating expenses	1,745,311	1,680,582	3,655,446	3,208,909
Other Operating Departments [Member] | Sotherly Hotels LP [Member]
REVENUE
Total revenue	4,320,744	5,142,283	9,036,054	10,240,411
Hotel operating expenses
Total hotel operating expenses	1,745,311	1,680,582	3,655,446	3,208,909
Indirect [Member]
Hotel operating expenses
Total hotel operating expenses	18,173,700	17,640,285	35,563,380	32,873,541
Indirect [Member] | Sotherly Hotels LP [Member]
Hotel operating expenses
Total hotel operating expenses	$ 18,173,700	$ 17,640,285	$ 35,563,380	$ 32,873,541

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - USD ($)	Total	Series B Preferred Stock [Member]	Series C Preferred Stock [Member]	Series D Preferred Stock [Member]	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-In Capital [Member]	Unearned ESOP Shares [Member]	Distributions in Excess of Retained Earnings [Member]	Distributions in Excess of Retained Earnings [Member]Series B Preferred Stock [Member]	Distributions in Excess of Retained Earnings [Member]Series C Preferred Stock [Member]	Distributions in Excess of Retained Earnings [Member]Series D Preferred Stock [Member]	Noncontrolling Interest [Member]
Balances, beginning 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, beginning at Dec. 31, 2017					2,910,000	14,078,831
Net income (loss)	1,176,488								1,206,501				(30,013)
Issuance of unrestricted common stock awards	13,477					$ 23	13,454
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
Amortization of ESOP shares	60,170							60,170
Amortization of restricted stock award	8,025						8,025
Preferred stock dividends declared:
Preferred stock dividends		$ (805,000)	$ (639,844)							$ (805,000)	$ (639,844)
Common stockholders' dividends and distributions declared	(1,758,350)								(1,553,864)				(204,486)
Balances, ending at Mar. 31, 2018	92,319,846				$ 29,100	$ 141,211	146,360,268	(4,572,942)	(50,558,067)				920,276
Balances, shares, ending at Mar. 31, 2018					2,910,000	14,121,081
Balances, beginning 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, beginning at Dec. 31, 2017					2,910,000	14,078,831
Net income (loss)	4,144,077
Balances, ending at Jun. 30, 2018	92,093,019				$ 29,100	$ 141,211	146,368,293	(4,511,269)	(50,811,546)				877,230
Balances, shares, ending at Jun. 30, 2018					2,910,000	14,121,081
Balances, beginning 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, beginning at Dec. 31, 2017					2,910,000	14,078,831
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
Balances, beginning at Mar. 31, 2018	92,319,846				$ 29,100	$ 141,211	146,360,268	(4,572,942)	(50,558,067)				920,276
Balances, shares, beginning at Mar. 31, 2018					2,910,000	14,121,081
Net income (loss)	2,967,589								2,797,258				170,331
Amortization of ESOP shares	61,673							61,673
Amortization of restricted stock award	8,025						8,025
Preferred stock dividends declared:
Preferred stock dividends		(805,000)	(639,844)							(805,000)	(639,844)
Common stockholders' dividends and distributions declared	(1,819,270)								(1,605,893)				(213,377)
Balances, ending at Jun. 30, 2018	92,093,019				$ 29,100	$ 141,211	146,368,293	(4,511,269)	(50,811,546)				877,230
Balances, shares, ending at Jun. 30, 2018					2,910,000	14,121,081
Balances, beginning at Dec. 31, 2018	82,266,372				$ 29,621	$ 142,093	147,085,112	(4,379,742)	(61,052,418)				441,706
Balances, shares, beginning at Dec. 31, 2018					2,962,141	14,209,378
Net income (loss)	(390,205)								(183,256)				(206,949)
Issuance of restricted common stock awards	92,333					$ 130	92,203
Issuance of restricted common stock awards, shares						13,000
Amortization of ESOP shares	66,093						(1,141)	67,234
Amortization of restricted stock award	8,025						8,025
Preferred stock dividends declared:
Preferred stock dividends		(805,000)	(665,507)							(805,000)	(665,507)
Common stockholders' dividends and distributions declared	(1,922,174)								(1,699,906)				(222,268)
Balances, ending at Mar. 31, 2019	78,649,937				$ 29,621	$ 142,223	147,184,199	(4,312,508)	(64,406,087)				12,489
Balances, shares, ending at Mar. 31, 2019					2,962,141	14,222,378
Balances, beginning at Dec. 31, 2018	82,266,372				$ 29,621	$ 142,093	147,085,112	(4,379,742)	(61,052,418)				441,706
Balances, shares, beginning at Dec. 31, 2018					2,962,141	14,209,378
Net income (loss)	759,112
Balances, ending at Jun. 30, 2019	104,366,056				$ 41,621	$ 142,223	175,557,743	(4,245,348)	(66,820,158)				(310,025)
Balances, shares, ending at Jun. 30, 2019					4,162,141	14,222,378
Balances, beginning at Mar. 31, 2019	78,649,937				$ 29,621	$ 142,223	147,184,199	(4,312,508)	(64,406,087)				12,489
Balances, shares, beginning at Mar. 31, 2019					2,962,141	14,222,378
Net income (loss)	1,149,315								1,240,671				(91,356)
Issuance of preferred stock	28,377,519				$ 12,000		28,365,519
Issuance of preferred stock, shares					1,200,000
Amortization of ESOP shares	67,160							67,160
Amortization of restricted stock award	8,025						8,025
Preferred stock dividends declared:
Preferred stock dividends		$ (805,000)	$ (665,507)	$ (501,876)						$ (805,000)	$ (665,507)	$ (501,876)
Common stockholders' dividends and distributions declared	(1,913,517)								(1,682,359)				(231,158)
Balances, ending at Jun. 30, 2019	$ 104,366,056				$ 41,621	$ 142,223	$ 175,557,743	$ (4,245,348)	$ (66,820,158)				$ (310,025)
Balances, shares, ending at Jun. 30, 2019					4,162,141	14,222,378

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Equity (Parenthetical) - $ / shares	3 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018
Common stock dividends and distributions declared	$ 0.13	$ 0.125	$ 0.12	$ 0.115
Series B Preferred Stock [Member]
Preferred stock dividends declared	0.50	0.50	0.50	0.50
Series C Preferred Stock [Member]
Preferred stock dividends declared	0.492188	$ 0.492188	$ 0.492188	$ 0.492188
Series D Preferred Stock [Member]
Preferred stock dividends declared	$ 0.41823

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	3 Months Ended				6 Months Ended		12 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Cash flows from operating activities:
Net income	$ 1,149,315	$ (390,205)	$ 2,967,589	$ 1,176,488	$ 759,112	$ 4,144,077
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	5,108,375		5,601,940		11,137,110	11,236,130
Amortization of deferred financing costs					519,227	462,469
Amortization of mortgage premium					(12,341)	(12,341)
Gain on involuntary conversion of assets	0		(27,824)		(161,334)	(898,565)
Unrealized loss (gain) on hedging activities	837,822		(5,798)		1,328,432	(18,528)
Loss on disposal of assets					27,171	3,739
Loss on early extinguishment of debt	1,152,356				1,152,356
ESOP and share / unit - based compensation					241,636	241,221
Changes in assets and liabilities:
Accounts receivable					(2,843,623)	(4,415,667)
Prepaid expenses, inventory and other assets					(1,694,811)	1,014,182
Deferred income taxes					1,154,944	1,521,929
Accounts payable and other accrued liabilities					3,474,598	2,911,180
Advance deposits					(814,340)	67,091
Accounts receivable - affiliate					167,180	(32,015)
Net cash provided by operating activities					14,435,317	16,224,902
Cash flows from investing activities:
Acquisitions of hotel properties						(79,732,716)
Improvements and additions to hotel properties					(8,849,789)	(10,563,930)
Proceeds from involuntary conversion					161,334	222,553
Proceeds from the disposal of assets					4,909
Net cash used in investing activities					(8,683,546)	(90,074,093)
Cash flows from financing activities:
Proceeds of mortgage debt						65,300,000
Proceeds of unsecured debt						25,000,000
Proceeds from issuance of preferred stock / units, net					28,377,519
Redemption of unsecured notes					(25,250,000)
Payments on mortgage loans					(2,938,920)	(7,707,048)
Payments of deferred financing costs					(106,950)	(2,197,268)
Dividends and distributions paid					(3,421,885)	(3,349,008)
Preferred dividends paid					(2,941,014)	(2,889,688)
Net cash (used in) provided by financing activities					(6,281,250)	74,156,988
Net (decrease) increase in cash, cash equivalents and restricted cash					(529,479)	307,797
Cash, cash equivalents and restricted cash at the beginning of the period		37,868,281		33,429,042	37,868,281	33,429,042	$ 33,429,042
Cash, cash equivalents and restricted cash at the end of the period	37,338,802		33,736,839		37,338,802	33,736,839	37,868,281
Supplemental disclosures:
Cash paid during the period for interest					9,370,362	8,769,755
Cash paid during the period for income taxes					111,389	280,552
Non-cash investing and financing activities:
Change in proceeds of involuntary conversion in accounts receivable						676,013
Change in amount of improvements to hotel property in accounts payable and accrued liabilities					281,691	91,556
Sotherly Hotels LP [Member]
Cash flows from operating activities:
Net income	1,149,315	(390,205)	2,967,589	1,176,488	759,112	4,144,077
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	5,108,375		5,601,940		11,137,110	11,236,130
Amortization of deferred financing costs					519,227	462,469
Amortization of mortgage premium					(12,341)	(12,341)
Gain on involuntary conversion of assets			(27,824)		(161,334)	(898,565)
Unrealized loss (gain) on hedging activities	837,822		(5,798)		1,328,432	(18,528)
Loss on disposal of assets					27,171	3,739
Loss on early extinguishment of debt	1,152,356				1,152,356
ESOP and share / unit - based compensation					372,179	299,898
Changes in assets and liabilities:
Accounts receivable					(2,843,623)	(4,415,667)
Prepaid expenses, inventory and other assets					(1,694,811)	1,014,182
Deferred income taxes					1,154,944	1,521,929
Accounts payable and other accrued liabilities					3,474,598	2,911,180
Advance deposits					(814,340)	67,091
Accounts receivable - affiliate					167,180	(32,015)
Net cash provided by operating activities					14,565,860	16,283,579
Cash flows from investing activities:
Acquisitions of hotel properties						(79,732,716)
Improvements and additions to hotel properties					(8,849,789)	(10,563,930)
ESOP loan payments received					114,771	94,908
Proceeds from involuntary conversion					161,334	222,553
Proceeds from the disposal of assets					4,909
Net cash used in investing activities					(8,568,775)	(89,979,185)
Cash flows from financing activities:
Proceeds of mortgage debt						65,300,000
Proceeds of unsecured debt						25,000,000
Proceeds from issuance of preferred stock / units, net					28,377,519
Redemption of unsecured notes					(25,250,000)
Payments on mortgage loans					(2,938,920)	(7,707,048)
Payments of deferred financing costs					(106,950)	(2,197,268)
Dividends and distributions paid					(3,667,199)	(3,502,593)
Preferred dividends paid					(2,941,014)	(2,889,688)
Net cash (used in) provided by financing activities					(6,526,564)	74,003,403
Net (decrease) increase in cash, cash equivalents and restricted cash					(529,479)	307,797
Cash, cash equivalents and restricted cash at the beginning of the period		$ 37,868,281		$ 33,429,042	37,868,281	33,429,042	33,429,042
Cash, cash equivalents and restricted cash at the end of the period	$ 37,338,802		$ 33,736,839		37,338,802	33,736,839	$ 37,868,281
Supplemental disclosures:
Cash paid during the period for interest					9,369,098	8,769,755
Cash paid during the period for income taxes					111,389	280,552
Non-cash investing and financing activities:
Change in proceeds of involuntary conversion in accounts receivable						676,013
Change in amount of improvements to hotel property in accounts payable and accrued liabilities					$ 281,691	$ 91,556

Consolidated Statements of Ch_3

Consolidated Statements of Changes in Partners' Capital - USD ($)	Total	Sotherly Hotels LP [Member]	Sotherly Hotels LP [Member]General Partner [Member]	Sotherly Hotels LP [Member]Limited Partner [Member]	Sotherly Hotels LP [Member]Preferred Units [Member]	Sotherly Hotels LP [Member]Preferred Units [Member]Series B Preferred Units [Member]	Sotherly Hotels LP [Member]Preferred Units [Member]Series C Preferred Units [Member]	Sotherly Hotels LP [Member]Preferred Units [Member]Series D Preferred Units [Member]
Balances, beginning at Dec. 31, 2017		$ 98,780,455	$ 586,725	$ 29,938,539		$ 37,766,531	$ 30,488,660
Balances, units, beginning at Dec. 31, 2017			158,570	15,698,401	2,910,000
Issuance of common partnership units		103,328	$ 1,034	$ 102,294
Issuance of common partnership units, number of units			423	41,827
Amortization of restricted units award	$ 8,025	8,025		$ 8,025
Unit based compensation		87,267		87,267
Preferred units distributions declared:
Series preferred units						(805,000)	(639,844)
Partnership units distributions declared		(1,828,410)	$ (18,285)	(1,810,125)
Net income (loss)	1,176,488	1,176,488	11,765	(280,121)		805,000	639,844
Balances, ending at Mar. 31, 2018		96,882,309	$ 581,239	$ 28,045,879		37,766,531	30,488,660
Balances, units, ending at Mar. 31, 2018			158,993	15,740,228	2,910,000
Balances, beginning at Dec. 31, 2017		98,780,455	$ 586,725	$ 29,938,539		37,766,531	30,488,660
Balances, units, beginning at Dec. 31, 2017			158,570	15,698,401	2,910,000
Preferred units distributions declared:
Net income (loss)	4,144,077	4,144,077
Balances, ending at Jun. 30, 2018		96,598,426	$ 591,835	$ 27,751,400		37,766,531	30,488,660
Balances, units, ending at Jun. 30, 2018			158,993	15,740,228	2,910,000
Balances, beginning at Mar. 31, 2018		96,882,309	$ 581,239	$ 28,045,879		37,766,531	30,488,660
Balances, units, beginning at Mar. 31, 2018			158,993	15,740,228	2,910,000
Amortization of restricted units award	8,025	8,025		$ 8,025
Unit based compensation		93,254		93,254
Preferred units distributions declared:
Series preferred units						(805,000)	(639,844)
Partnership units distributions declared		(1,907,907)	$ (19,080)	(1,888,827)
Net income (loss)	2,967,589	2,967,589	29,676	1,493,069		805,000	639,844
Balances, ending at Jun. 30, 2018		96,598,426	$ 591,835	$ 27,751,400		37,766,531	30,488,660
Balances, units, ending at Jun. 30, 2018			158,993	15,740,228	2,910,000
Balances, beginning at Dec. 31, 2018		86,656,235	$ 452,165	$ 16,943,816		37,766,531	31,493,723
Balances, units, beginning at Dec. 31, 2018			159,876	15,827,642	2,962,141
Issuance of common partnership units		92,333	$ 923	$ 91,410
Issuance of common partnership units, number of units			130	12,870
Amortization of restricted units award	8,025	8,025	$ 80	$ 7,945
Unit based compensation		90,768	908	89,860
Preferred units distributions declared:
Series preferred units						(805,000)	(665,507)
Partnership units distributions declared		(2,002,877)	(17,806)	(1,985,071)
Net income (loss)	(390,205)	(390,205)	(18,607)	(1,842,105)		805,000	665,507
Balances, ending at Mar. 31, 2019		82,983,772	$ 417,663	$ 13,305,855		37,766,531	31,493,723
Balances, units, ending at Mar. 31, 2019			160,006	15,840,512	2,962,141
Balances, beginning at Dec. 31, 2018		86,656,235	$ 452,165	$ 16,943,816		37,766,531	31,493,723
Balances, units, beginning at Dec. 31, 2018			159,876	15,827,642	2,962,141
Preferred units distributions declared:
Net income (loss)	759,112	759,112
Balances, ending at Jun. 30, 2019		108,639,212	$ 394,620	$ 10,606,819		37,766,531	31,493,723	$ 28,377,519
Balances, units, ending at Jun. 30, 2019			160,006	15,840,512	4,162,141
Balances, beginning at Mar. 31, 2019		82,983,772	$ 417,663	$ 13,305,855		37,766,531	31,493,723
Balances, units, beginning at Mar. 31, 2019			160,006	15,840,512	2,962,141
Issuance of preferred partnership units		28,377,519						28,377,519
Issuance of preferred partnership units, number of units					1,200,000
Amortization of restricted units award	8,025	8,025	$ 80	$ 7,945
Unit based compensation		173,029	1,730	171,299
Preferred units distributions declared:
Series preferred units						(805,000)	(665,507)	(501,875)
Partnership units distributions declared		(2,080,066)	(16,622)	(2,063,444)
Net income (loss)	$ 1,149,315	1,149,315	(8,231)	(814,836)		805,000	665,507	501,875
Balances, ending at Jun. 30, 2019		$ 108,639,212	$ 394,620	$ 10,606,819		$ 37,766,531	$ 31,493,723	$ 28,377,519
Balances, units, ending at Jun. 30, 2019			160,006	15,840,512	4,162,141

Consolidated Statements of Ch_4

Consolidated Statements of Changes in Partners' Capital (Parenthetical) - $ / shares	3 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018
Partnership units distributions per unit	$ 0.13	$ 0.125	$ 0.12	$ 0.115
Series B Preferred Units [Member]
Preferred units distributions per unit	0.50	0.50	0.50	0.50
Series C Preferred Units [Member]
Preferred units distributions per unit	0.492188	$ 0.492188	$ 0.492188	$ 0.492188
Series D Preferred Units [Member]
Preferred units distributions per unit	$ 0.41823

Organization and Description of

Organization and Description of Business	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Organization and Description of Business	1. Organization and Description of Business Sotherly Hotels Inc. (the “Company”) is a self-managed and self-administered lodging real estate investment trust (“REIT”) that was incorporated in Maryland on August 20, 2004 to own full-service, primarily upscale and upper-upscale hotels located in primary and secondary markets in the mid-Atlantic and southern United States. Currently, the Company is focused on the acquisition, renovation, upbranding and repositioning of upscale to upper-upscale full-service hotels in the southern United States. The Company’s portfolio consists of investments in twelve hotel properties comprising 3,156 rooms, and the hotel commercial condominium unit of the Hyde Resort & Residences 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, Hyatt and Sheraton brands. The Company commenced operations on December 21, 2004 when it completed its initial public offering and thereafter consummated the acquisition of six hotel properties (the “Initial 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”), which at June 30, 2019, was approximately 88.9% owned by the Company. Pursuant to the terms of the Amended and Restated Agreement of Limited Partnership (the “Partnership Agreement”) of the Operating Partnership, 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, through its subsidiaries, leases the hotels to direct and indirect subsidiaries of MHI Hospitality TRS Holding, Inc. (collectively, “MHI TRS”), which is a wholly-owned subsidiary of the Operating Partnership. MHI TRS then engages eligible independent hotel management companies, including MHI Hotels Services, LLC, which does business as Chesapeake Hospitality (“Chesapeake Hospitality”) and Highgate Hotels, L.P. (“Highgate Hotels”), to operate the hotels under management contracts. MHI TRS is treated as a taxable REIT subsidiary for federal income tax purposes. All references in this report 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 prior fiscal year include the following: On February 1, 2018, we received proceeds of $5.0 million on the Hotel Ballast 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 $23,500,000. 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 our 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 $5,000,000 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 June 30, 2019, 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. On April 18, 2019, the Company closed a sale and issuance of 1,080,000 shares of its 8.25% Series D cumulative redeemable perpetual preferred stock (the “Series D Preferred Stock”), for gross proceeds of $27.0 million before underwriting discounts and commissions and expenses payable by the Company. On May 1, 2019, the Company closed a sale and issuance of an additional 120,000 shares of its Series D Preferred Stock, for gross proceeds of $3.0 million before underwriting discounts and commissions and expenses payable by the Company, in connection with the partial exercise of the underwriters’ option to purchase additional shares of the Series D Preferred Stock. Total net proceeds after all estimated expenses were approximately $28.4 million, which t On April 24, 2019, the Hyde Resort & Residences condominium association, 4111 South Ocean Drive Condominium Association, Inc., unilaterally terminated both (i) the existing Lease Agreement for the 400-space parking garage and meeting rooms associated with the condominium hotel and (ii) the Association Management Agreement relating to the operation and management of the hotel condominium association. We continue to operate our rental program at the Hyde Resort & Residences. On April 26, 2019, we entered into amended loan documents to modify the existing mortgage loan on the Hotel Alba (f/k/a Crowne Plaza Tampa Westshore) with the existing lender, Fifth Third Bank. Pursuant to the modification, the mortgage loan principal balance remained at approximately $18.2 million; the maturity date was extended to June 30, 2022, and may be extended for two additional periods of one year each, subject to certain conditions; the mortgage loan continues to bear a floating interest rate of 1-month LIBOR plus 3.75% subject to a floor rate of 3.75%, with a new provision to reduce the floating interest rate to 1-month LIBOR plus 3.00% upon the successful achievement of certain performance hurdles; the mortgage loan amortizes on a 25-year schedule; and the mortgage loan continues to be guaranteed by Sotherly Hotels LP. On May 20, 2019, the Operating Partnership redeemed the entire $25.0 million aggregate principal amount of its 7.25% Notes, at a redemption price equal to 101% of the principal amount of the 7.25% Notes, plus any accrued and unpaid interest to, but not including, the redemption date.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2019
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 5 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. 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 and banqueting receivables. Ongoing evaluations of collectability are performed and an allowance for potential credit losses is provided against the portion of accounts receivable that is estimated to be uncollectible. Inventories – Inventories, consisting primarily of food and beverages, are stated at the lower of cost or 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 June 30, 2019 and December 31, 2018 were $443,092 and $ 471,996 , respectively. Amortization expense for the three-month periods ended June 30, 2019 and 2018, totaled $14,035 and $13,304, respectively, and for the six-month periods ended June 30, 2019 and 2018, totaled $28,904 and $30,336, respectively. Right-of-Use Assets and Lease Obligations – In February 2016, the Financial Accounting Standards Board (“FASB”) issued ASU 2016-02, Leases, which sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e., lessees and lessors). The new standard requires lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase by the lessee. This classification will determine whether lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease, respectively. A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification. In July 2018, the FASB issued ASU 2018-10, Codification Improvements to Topic 842, Leases, to clarify how to apply certain aspects of the new lease standard. In July 2018, the FASB also issued ASU 2018-11, Leases (Topic 842): Targeted Improvements, to give companies another option for transition and to provide lessors with a practical expedient to reduce the cost and complexity of implementing the new standard. The transition option allows companies to not apply the new lease standard in the comparative periods they present in their financial statements in the year of adoption. We adopted this standard on January 1, 2019. We elected the practical expedients allowed under the guidance and retained the original lease classification and historical accounting for initial direct costs for leases existing prior to the adoption date. We also elected not to restate prior periods for the impact of the adoption of the new standard. The adoption of this standard has resulted in the recognition of right-of-use assets and related liabilities to account for our future obligations under the acquired operating ground lease, equipment, office space, parking and land leases for which we are the lessee. See Notes 4 and 6 to the accompanying financial statements for additional disclosures on the adoption of this standard. As of June 30, 2019, we had right of use assets, net of approximately $3.2 million, and lease obligations of approximately $0.9 million. The right-of-use assets are included in investments in hotel properties, net and the lease obligations are included in accounts payable and accrued liabilities on the consolidated balance sheets. 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. Deferred offering costs are netted against our equity offerings when the offering is complete, whereby the costs are offset against the equity funds raised in the future and included in additional paid-in capital on the consolidated balance sheets, or if the offering expires and the offering costs exceed the funds raised in the offering then the excess will be included in corporate general and administrative expenses in the consolidated statements of operations. Derivative Instruments – Our derivative instruments are reflected as assets or liabilities on the consolidated balance sheets 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 June 30, 2019 and December 31, 2018, respectively): Level 1 Level 2 Level 3 December 31, 2018 Interest Rate Cap (1) $ — $ 94,697 $ — Interest Rate Swap (2) $ — $ (984,677 ) $ — Mortgage loans (3) $ — $ (357,279,949 ) $ — Unsecured notes (4) $ (25,390,000 ) $ — $ — June 30, 2019 Interest Rate Caps (1) $ — $ 9,505 $ — Interest Rate Swap (2) $ — $ (2,224,095 ) $ — Mortgage loans (3) $ — $ (364,855,267 ) $ — (1) Interest rate caps, which cap the 1-month LIBOR rates between 2.5% and 3.25%. (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 outstanding principal balance, net of deferred financing costs on our Consolidated Balance Sheets as of June 30, 2019 and December 31, 2018. ( 4 ) Unsecured notes are recorded at outstanding principal balance, net of deferred financing costs on our Consolidated Balance Sheets as of December 31, 2018. Noncontrolling Interest in Operating Partnership – Certain hotel properties were 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 statements of operations pursuant to the terms of each lease. Lease revenue was approximately $0.4 million and $0.4 million, for the three months ended June 30, 2019 and 2018, respectively, and approximately $0.8 million and $0.9 million for the six months ended June 30, 2019 and 2018, respectively. A schedule of minimum future lease payments receivable for the remaining six and twelve-month periods is as follows: For the remaining six months ending December 31, 2019 $ 808,052 December 31, 2020 1,452,866 December 31, 2021 1,395,363 December 31, 2022 1,221,343 December 31, 2023 612,940 December 31, 2024 and thereafter 3,158,088 Total $ 8,648,652 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. As of June 30, 2019 and December 31, 2018, deferred tax assets totaled approximately $4.0 million and $5.1 million, respectively, of which approximately $3.4 million and $4.4 million relate 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 June 30, 2019 and 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 June 30, 2019, 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 June 30, 2019, the tax years that remain subject to examination, because of NOL carryforwards, by the major tax jurisdictions to which MHI TRS is subject include the years 2009 and 2014 through 2018. The Operating Partnership is generally not subject to federal and state income taxes as the unit holders of the Partnership are subject to tax on their respective shares of the Partnership’s taxable income. Stock-based Compensation – The Company’s 2013 Long-Term Incentive Plan (the “2013 Plan”), which the Company’s stockholders approved in April 2013, permit the grant of stock options, restricted stock, unrestricted 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 such awards better align the interests of its employees with those of its stockholders. Under the 2013 Plan, the Company has made stock awards totaling 176,350 shares, including 143,350 non-restricted shares and 33,000 restricted shares issued to certain executives and employees and to its independent directors. All awards have vested except for 20,000 shares issued to one employee, which will vest over 4 years and 13,000 shares issued to the Company’s independent directors in February 2019, which will vest by December 31, 2019 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 June 30, 2019, no performance-based stock awards have been granted. Total compensation cost recognized under the 2013 Plan for the three months ended June 30, 2019 and 2018 was each $8,025 and for the six months ended June 30, 2019 and 2018 was $108,383 and $119,378 , Additionally, the Company sponsors and maintains an Employee Stock Ownership Plan (“ESOP”) and related trust for the benefit of its eligible employees. We reflect Advertising – Advertising costs were $90,052 and $ 147,804 for the three months ended June 30, 2019 and 2018, respectively and were $187,720 and $ 246,117 for the six months ended June 30, 2019 and 2018, respectively . Advertising costs are expensed as incurred. 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 three-month periods ending June 30, 2019 and 2018, we recognized $0 and $27,824, respectively and during the six-month periods ending June 30, 2019 and 2018, we recognized approximately $0.2 million and $0.9 million , respectively, in gain on involuntary conversion of assets, which is reflected in the consolidated statements of operations. Comprehensive Income – Comprehensive income as defined, includes all changes in equity during a period from non-owner sources. We do not have any items of comprehensive income other than net income. 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 (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. New Accounting Pronouncements – In July 2018, 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. We adopted the practical expedients allowed under the guidance and retained the original lease classification and historical accounting for initial direct costs for leases existing prior to the adoption date on January 1, 2019. We also elected not to restate prior periods for the impact of the adoption of the new standard and instead recognized a cumulative-effect adjustment to beginning retained earnings as of the adoption date. These standards resulted 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. The right of use assets and corresponding liabilities were recorded in the amount of approximately $6.3 million and $3.8 million, respectively as of January 1, 2019. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842)

Acquisition of Hotel Properties

Acquisition of Hotel Properties	3 Months Ended
	Mar. 31, 2019
Business Combinations And Or Asset Acquisitions [Abstract]
Acquisition of Hotel Properties	3. Acquisition of Hotel Properties Hyatt Centric Arlington . 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 hotel is 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 June 30, 2018 were approximately $8.6 million and $2.1 million, respectively. The total revenue and net income related to the Hyatt Centric Arlington acquisition for the period January 1, 2019 to June 30, 2019 were approximately $11.3 million and $0.5 million, respectively. The allocation of the respective purchase price is based on fair value as follows: Hyatt Centric Arlington 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 ) Prepaid expenses, inventory and other assets — Net cash $ 79,732,716

Investment in Hotel Properties,

Investment in Hotel Properties, Net	6 Months Ended
	Jun. 30, 2019
Real Estate [Abstract]
Investment in Hotel Properties, Net	4. Investment in Hotel Properties, Net Investment in hotel properties, net as of June 30, 2019 and December 31, 2018 consisted of the following: June 30, 2019 December 31, 2018 (unaudited) Land and land improvements $ 65,718,175 $ 64,409,730 Buildings and improvements 426,913,435 424,657,327 Right of use assets 3,665,783 — Furniture, fixtures and equipment 56,421,824 57,830,987 552,719,217 546,898,044 Less: accumulated depreciation and impairment (116,209,553 ) (111,172,230 ) Investment in Hotel Properties, Net $ 436,509,664 $ 435,725,814 On January 1, 2019, we adopted ASU 842, Leases

Debt

Debt	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Debt	5. Debt Mortgage Loans, Net . As of June 30, 2019 and December 31, 2018, we had approximately $362.1 million and approximately $ 364.8 million of outstanding mortgage debt, respectively. The following table sets forth our mortgage debt obligations on our hotels. Balance Outstanding as of June 30, December 31, Prepayment Maturity Amortization Interest Property 2019 2018 Penalties Date Provisions Rate (unaudited) The DeSoto (1) $ 33,471,604 $ 33,824,350 Yes 7/1/2026 25 years 4.25% DoubleTree by Hilton Jacksonville Riverfront (2) 34,500,796 34,773,546 Yes 7/11/2024 30 years 4.88% DoubleTree by Hilton Laurel (3) 8,691,516 8,845,299 Yes 8/5/2021 25 years 5.25% DoubleTree by Hilton Philadelphia Airport (4) 41,727,228 42,026,986 None 7/31/2023 30 years LIBOR plus 2.27 % DoubleTree by Hilton Raleigh- Brownstone University (5) 18,300,000 18,300,000 Yes 7/27/2022 (5) LIBOR plus 4.00 % DoubleTree Resort by Hilton Hollywood Beach (6) 56,642,669 57,064,824 n/a 10/1/2025 30 years 4.913% Georgian Terrace (7) 43,840,298 44,202,968 n/a 6/1/2025 30 years 4.42% Hotel Alba Tampa, Tapestry Collection by Hilton (8) 18,187,788 18,307,000 None 6/30/2022 (8) LIBOR plus 3.75 % Hotel Ballast Wilmington, Tapestry Collection by Hilton (9) 33,892,701 34,236,104 Yes 1/1/2027 25 years 4.25% Hyatt Centric Arlington (10) 49,534,098 49,885,045 Yes 9/18/2028 30 years 5.25% Sheraton Louisville Riverside (11) 11,290,788 11,414,300 Yes 12/1/2026 25 years 4.27% The Whitehall (12) 14,595,471 14,733,458 Yes 2/26/2023 25 years LIBOR plus 3.50 % Total Mortgage Principal Balance $ 364,674,957 $ 367,613,880 Deferred financing costs, net (2,765,926 ) (2,951,327 ) Unamortized premium on loan 153,951 166,292 Total Mortgage Loans, Net $ 362,062,982 $ 364,828,845 (1) 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. (2) 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. (3) The note is subject to a pre-payment penalty until April 2021. Prepayment can be made without penalty thereafter. (4) The note bears a floating interest rate of 1-month LIBOR plus 2.27%, but we entered into a swap agreement to fix the rate at 5.237%. Under the swap agreement, notional amounts approximate the declining balance of the loan and we are responsible for any potential termination fees associated with early termination of the swap agreement. (5) The 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 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. (6) With limited exception, the note may not be prepaid until June 2025. (7) With limited exception, the note may not be prepaid until February 2025. (8) 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 $26,812; the note provides that the mortgage can be extended for two additional periods of one year each, subject to certain conditions. (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 1-month LIBOR plus 3.5%, subject to a floor rate of 4.0%, and is subject to prepayment penalties on a declining scale with a 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. As of June 30, 2019, we were in compliance with all debt covenants, current on all loan payments and not otherwise in default under any of our mortgage loans, as amended or modified. Total future mortgage debt maturities for the remaining six and twelve month periods, without respect to any extension of loan maturity, were as follows: For the remaining six months ending December 31, 2019 $ 3,169,980 December 31, 2020 6,611,161 December 31, 2021 14,815,760 December 31, 2022 42,296,175 December 31, 2023 59,970,849 December 31, 2024 and thereafter 237,811,032 Total future maturities $ 364,674,957 7.25% Unsecured Notes. On February 12, 2018, the Operating Partnership issued its 7.25% Notes in the aggregate amount of $25.0 million, unconditionally guaranteed by the Company. The indenture requires quarterly payments of interest and was to mature on February 15, 2021. The 7.25% Notes were redeemed on May 20, 2019 at 101% of face value.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2019
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	6. Commitments and Contingencies Ground, Building, Parking and Land Leases – We lease 2,086 square feet of commercial space next to The DeSoto for use as an office, retail or conference space, or for any related or ancillary purposes for the hotel and/or atrium space. In December 2007, we signed an amendment to the lease to include rights to the outdoor esplanade adjacent to the leased commercial space. The areas are leased under a six-year operating lease, which expired October 31, 2006 and has been renewed for the 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 each of the three and six months ended June 30, 2019 and 2018 totaled $18,246 and $36,492, respectively. We lease, as landlord, the entire fourteenth floor of The DeSoto hotel property to The Chatham Club, Inc. under a ninety-nine year lease expiring July 31, 2086. This lease was assumed upon the purchase of the building under the terms and conditions agreed to by the previous owner of the property. No rental income is recognized under the terms of this lease as the original lump sum rent payment of $990 was received by the previous owner and not prorated over the life of the lease. We lease land adjacent to the Hotel Alba for use as parking under a five-year renewable agreement with the Florida Department of Transportation that commenced in July 2009. In May 2014, we extended the agreement for an additional five years. The agreement expires in July 2024. The agreement requires annual payments of $2,432, plus tax, and may be renewed for an additional five years. Rent expense for each of the three and six months ended June 30, 2019 and 2018, totaled $651 and $1,301, 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 was extended to August 31, 2019. Rent expense for the three-month periods ended June 30, 2019 and 2018 totaled $26,984 and $22,552, respectively and for the six-month periods ended June 30, 2019 and 2018, totaled $53,968 and $ 45,104. We lease the land underlying all of the 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 for five additional renewal periods of 10 years each. We also lease certain parking space, storage facilities, furniture and equipment under financing arrangements expiring between July 2019 and June 2025. A schedule of minimum future lease payments for the following six and twelve-month periods is as follows: For the remaining six months ending December 31, 2019 $ 84,862 December 31, 2020 146,032 December 31, 2021 139,181 December 31, 2022 116,998 December 31, 2023 115,682 December 31, 2024 and thereafter 668,285 Total $ 1,271,040 Employment Agreements - The Company has entered into various employment contracts with employees that could result in obligations to the Company in the event of a change in control or termination without cause. Management Agreements – As of June 30, 2019, 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 June 30, 2019, the eleven remaining 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 June 30, 2019, nine of our hotels operated 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 2.5% and 6.0% of room revenues from the hotels. The franchise agreements expire between November 2021 and March 2038. Each of our franchise agreements provides for early termination fees in the event the agreement is terminated before the stated term. Restricted Cash Reserves – Each month, we are required to escrow with the lenders on the Hotel Ballast, The DeSoto, the DoubleTree by Hilton Raleigh Brownstone-University, the DoubleTree by Hilton Jacksonville Riverside, the DoubleTree Resort by Hilton Hollywood Beach, and the Georgian Terrace an amount equal to one-twelfth (1/12) of the annual real estate taxes due for the properties. We are also required by several of our lenders to establish individual property improvement funds to cover the cost of replacing capital assets at our properties. Each month, those contributions equal 4.0% of gross revenues for the Hotel Ballast, The DeSoto, the DoubleTree by Hilton Raleigh Brownstone–University, the DoubleTree by Hilton Jacksonville Riverside, the DoubleTree Resort by Hilton Hollywood Beach, The Whitehall and the Georgian Terrace and equal 4.0% of room revenues for the DoubleTree by Hilton Philadelphia Airport and the Hyatt Centric Arlington ESOP Loan Commitment – The Company’s board of directors approved the ESOP on November 29, 2016, which was adopted by the Company in December 2016 and effective January 1, 2016. The ESOP is a non-contributory defined contribution plan covering all employees of the Company. The ESOP is a leveraged ESOP, meaning the contributed funds are loaned to the ESOP from the Company. The Company entered into a loan agreement with the ESOP on December 29, 2016, pursuant to which the ESOP may borrow up to $5.0 million to purchase shares of the Company’s common stock on the open market. Under the loan agreement, the aggregate principal amount outstanding at any time may not exceed $5.0 million and the ESOP may borrow additional funds up to that limit in the future, until December 29, 2036. Hyde Beach House – Purchase Commitment - On June 1, 2017, we entered into a Commercial Unit Purchase Agreement and a related addendum (collectively, the “Hyde Beach Agreement”) to purchase the commercial unit of the planned Hyde Beach House Resort & Residences (the “Planned Hotel”), a condominium hotel under development in Hollywood, Florida, for a price of $5.10 million from 4000 South Ocean Property Owner, LLLP (the “Seller”). In connection with the Hyde Beach Agreement, we also entered into a Pre-Opening Services Agreement whereby the Seller has agreed to pay us $0.75 million in connection with certain pre-opening activities, prior to the closing under the Hyde Beach Agreement. In connection with the closing under the Hyde Beach Agreement, we have agreed to purchase inventories consistent with the management and operation of the Planned Hotel and the related condominium association for an additional amount; to enter into a use agreement or 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 condominium association. We anticipate that the closing of the transaction under the Hyde Beach Agreement and the execution of related agreements will occur 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 Hyde Beach Agreement. Litigation –We are involved in routine litigation arising out of the ordinary course of business, all of which we expect to be covered by insurance and we believe it is not reasonably possible such matters will have a material adverse impact on our financial condition or results of operations or cash flows.

Preferred Stock and Units

Preferred Stock and Units	6 Months Ended
	Jun. 30, 2019
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. The following table sets forth our Cumulative Redeemable Perpetual Preferred Stock by series: Per Number of Shares Annum Liquidation Issued and Outstanding as of Distributions Preferred Stock - Series Rate Preference June 30, 2019 December 31, 2018 Per Share Series B Preferred Stock 8.000 % $25.00 1,610,000 1,610,000 $ 0.500000 Series C Preferred Stock 7.875 % $25.00 1,352,141 1,352,141 $ 0.492188 Series D Preferred Stock 8.250 % $25.00 1,200,000 - $ 0.515625 (1) (1) The initial distribution for the Series D Preferred Stock paid on July 15, 2019 was pro-rated per the terms of the security in the amount of $0.41823 per share. The Company pays cumulative cash distributions on the preferred stock at rates in the above table per annum of the $25.00 liquidation preference per share. Holders of the Company’s preferred stock are entitled to receive distributions when authorized by the Company’s board of directors out of assets legally available for the payment of distributions. The preferred stock is not redeemable by the holders, has no maturity date and is not convertible into any other security of the Company or its affiliates. In April 2019, the Company issued 1,200,000 shares of Series D Preferred Stock, for net proceeds after all estimated expenses of approximately $28.4 million. The Company contributed the net proceeds from the offering to its Operating Partnership for an equivalent number of Series D Preferred Units. Holders of the Company’s Series D 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 D Preferred Stock at a rate of 8.25% per annum of the $25.00 liquidation preference per share. The Series D 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 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. For the three and six months ended June 30, 2019, there were no shares sold. Preferred Units - The Company is the holder of the Operating Partnership’s preferred partnership units and is entitled to receive distributions when authorized by the general partner of the Operating Partnership out of assets legally available for the payment of distributions. The following table sets forth our Cumulative Redeemable Perpetual Preferred Units by series: Per Number of Units Annum Liquidation Issued and Outstanding as of Distributions Preferred Units - Series Rate Preference June 30, 2019 December 31, 2018 Per Unit Series B Preferred Units 8.000 % $25.00 1,610,000 1,610,000 $ 0.500000 Series C Preferred Units 7.875 % $25.00 1,352,141 1,352,141 $ 0.492188 Series D Preferred Units 8.250 % $25.00 1,200,000 - $ 0.515625 (1) (1) The initial distribution for the Series D Preferred Units paid on July 15, 2019 was pro-rated per the terms of the security in the amount of $0.41823 per unit. The Company pays cumulative cash distributions on the preferred units at rates in the above table per annum of the $25.00 liquidation preference per unit. Holders of the Operating Partnership’s preferred units are entitled to receive distributions when authorized by the Operating Partnership’s general partner out of assets legally available for the payment of distributions. The preferred units are not redeemable by the holders, has no maturity date and is not convertible into any other security of the Operating Partnership or its affiliates. In April and May 2019, the Operating Partnership issued 1,200,000 units of 8.25% Series D Preferred Units, for net proceeds after all estimated expenses of approximately $28.4 million. The Operating Partnership used the net proceeds to redeem in full the Operating Partnership’s 7.25% Senior Unsecured Notes due 2021 and for working capital. In September and December 2018, the Operating Partnership issued a total of 52,141 units of 7.875% Series C Preferred Units, for net proceeds after all estimated expenses of approximately $1.0 million.

Common Stock and Units

Common Stock and Units	6 Months Ended
	Jun. 30, 2019
Equity [Abstract]
Common Stock and Units	8. Common Stock and Units Common Stock – As of June 30, 2019, the Company was 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. Through December 31, 2018 the Company repurchased 882,820 shares of common stock for approximately $5.9 million and the repurchased shares have been returned to the status of authorized but unissued shares of common stock. The Company did not repurchase any shares under the stock repurchase program during the six months ended June 30, 2019. During 2017 , the ESOP purchased 682,500 shares of the Company’s common stock for approximately $4.9 million. The following is a schedule of issuances, since January 1, 2018, of the Company’s common stock and related units of the Operating Partnership: 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 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 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 and none have been sold during the six months ended June 30, 2019. On February 11, 2019, the Company was issued 12,750 units in the Operating Partnership and awarded shares of restricted stock to its independent directors. On February 22, 2019, the Company was issued 250 units in the Operating Partnership and awarded shares of restricted stock to an independent director. As of June 30, 2019 and December 31, 2018, the Company had 14,222,378 and 14, 209,378 shares of common stock outstanding, respectively. Operating Partnership Units – Holders of Operating Partnership units, other than the Company as general partner, have certain redemption rights, which enable them to cause the Operating Partnership to redeem their units in exchange for shares of the Company’s common stock on a one-for-one basis or, at the option of the Company, cash per unit equal to the average of the market price of the Company’s common stock for the 10 trading days immediately preceding the notice date of such redemption. The number of shares issuable upon exercise of the redemption rights will be adjusted upon the occurrence of stock splits, mergers, consolidations or similar pro-rata share transactions, which otherwise would have the effect of diluting the ownership interests of the limited partners or the stockholders of the Company. Since January 1, 2018, there have been no issuances or redemptions, of units in the Operating Partnership other than the issuances of units in the Operating Partnership to the Company described above. As of June 30, 2019 and December 31, 2018, the total number of Operating Partnership units outstanding was 16,000,518 and 15, As of June 30, 2019 and December 31, 2018, the total number of outstanding Operating Partnership units not owned by the Company was 1,778,140 and 1,778,140, respectively, with a fair market value of approximately $12.4 million and $10.0 million, respectively, based on the price per share of the common stock on such respective dates.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2019
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 June 30, 2019, 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 June 30, 2019 and December 31, 2018, we were due $98,975 and $ 91,987 , respectively, from Chesapeake Hospitality. Management Agreements – As of June 30, 2019, all of our wholly-owned hotels (with the exception of the Hyatt Centric Arlington hotel) and the Hyde Resort & Residences operated under various management agreements with Chesapeake Hospitality. On December 15, 2014, we entered into a 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 was 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. The Company and Chesapeake Hospitality agreed to substitute the Hyde Resort & Residences for the Crowne Plaza Hampton Marina and there was no termination fee associated with the termination of the Crowne Plaza Hampton Marina management agreement. Each management agreement sets an incentive management fee equal to 10.0% of the amount by which gross operating profit, as defined in the management agreement, for a given year exceeds the budgeted gross operating profit for such year; provided, however, that the incentive management fee payable in respect of any such year shall not exceed 0.25% of the gross revenues of the hotel included in such calculation. Base management and administrative fees earned by Chesapeake Hospitality for our properties totaled $1,326,399 and $ 1,119,177 2,216,899 . 64,009 86,406 . 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 $1,395,019 and $ 1,407,782 for the three months ended June 30, 2019 and 2018, respectively and were $2,862,304 and $ 2,911,607 for the six months ended June 30, 2019 and 2018, 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 three months ended June 30, 2019 and 2018, we paid approximately 0.2 million and none, respectively, and for the six months ended June 30, 2019 and 2018, we paid approximately 0.5 million and 0.1 million, 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. Loan Receivable – Affiliate . As of June 30, 2019 and December 31, 2018, approximately $4.3 million and $4.4 million, respectively, was due to the Operating Partnership for advances to the Company under a loan agreement dated December 29, 2016. The Company used the proceeds to make advances to the ESOP to purchase shares of the Company’s common stock. Others . We employ 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. We also employ Andrew M. Sims Jr., the son of our Chief Executive Officer, as a manager. Compensation for the three months ended June 30, 2019 and 2018 totaled $102,679 and $ 96,035 , respectively and for the six months ended June 30, 2019 and 2018 totaled $206,290 and $ 194,577 , respectively, for all three individuals. During the three-month period ending June 30, 2019 and 2018, the Company reimbursed $53,560 and $ 36,304 60,356

Retirement Plans

Retirement Plans	6 Months Ended
	Jun. 30, 2019
Compensation And Retirement Disclosure [Abstract]
Retirement Plans	10. Retirement Plans 401(k) Plan - We maintain a 401(k) plan for qualified employees which is subject to “safe harbor” provisions and which requires 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” provision. Contributions to the plan totaled $22,700 and $ 22,141 for the three months ended June 30, 2019 and 2018, respectively and $50,561 and $ 49,039 for the six months ended June 30, 2019 and 2018, respectively . Employee Stock Ownership Plan - The Company adopted an Employee Stock Ownership Plan 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 as contributions are made to the ESOP by the Company. The share allocations will be accounted for at fair value at the date of allocation. As of June 30, 2019, the ESOP had purchased 682,500 shares of the Company’s common stock in the open market for approximately $4.9 million, which the ESOP borrowed from the Company pursuant to the loan agreement. A total of 85,110 and 50,891 shares with a fair value of $592,364 and $348,173 remained allocated or committed to be released from the suspense account and recognized as compensation cost during the six months ended June 30, 2019 and 2018, respectively. The remaining 594,378 unallocated shares have an approximate fair value of $4.1 million, as of June 30, 2019. At June 30, 2019, the ESOP held a total of 66,308 allocated shares, 18,802 committed-to-be-released shares and 594,378 suspense shares. Dividends on allocated and 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: June 30, 2019 December 31, 2018 Number of Shares Fair Value Number of Shares Fair Value Allocated shares 66,308 $ 461,504 33,832 $ 189,798 Committed to be released shares 18,802 130,860 35,474 199,007 Total Allocated and Committed-to-be-Released 85,110 $ 592,364 69,306 $ 388,805 Unallocated shares 594,378 4,136,872 613,194 3,440,020 Total ESOP Shares 679,488 $ 4,729,236 682,500 $ 3,828,825

Indirect Hotel Operating Expens

Indirect Hotel Operating Expenses	6 Months Ended
	Jun. 30, 2019
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: Three Months Ended Three Months Ended Six Months Ended Six Months Ended June 30, 2019 June 30, 2018 June 30, 2019 June 30, 2018 (unaudited) (unaudited) (unaudited) (unaudited) Sales and marketing $ 4,450,705 $ 4,303,516 $ 8,684,028 $ 8,030,938 General and administrative 3,999,951 3,897,618 7,812,424 7,340,076 Repairs and maintenance 1,962,867 1,967,457 3,983,460 3,768,599 Utilities 1,503,863 1,583,655 3,010,526 2,985,633 Property taxes 1,731,001 1,625,503 3,461,466 3,162,877 Management fees, including incentive 1,341,497 1,388,995 2,739,187 2,504,854 Franchise fees 1,373,004 1,261,787 2,501,755 2,185,311 Insurance 922,868 733,507 1,673,810 1,368,176 Information and telecommunications 619,837 420,460 1,242,915 802,065 Other 268,107 457,787 453,809 725,012 Total indirect hotel operating expenses $ 18,173,700 $ 17,640,285 $ 35,563,380 $ 32,873,541

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes	12. Income Taxes The components of the income tax provision for the three and six months ended June 30, 2019 and 2018 are as follows: Three Months Ended Three Months Ended Six Months Ended Six Months Ended June 30, 2019 June 30, 2018 June 30, 2019 June 30, 2018 (unaudited) (unaudited) (unaudited) (unaudited) Current: Federal $ (92,333 ) $ — $ (92,333 ) $ — State 37,424 61,347 70,902 107,040 (54,909 ) 61,347 (21,431 ) 107,040 Deferred: Federal 726,912 997,600 926,518 1,204,619 State 143,353 264,067 228,426 317,310 870,265 1,261,667 1,154,944 1,521,929 $ 815,356 $ 1,323,014 $ 1,133,513 $ 1,628,969 A reconciliation of the statutory federal income tax provision to the Company’s income tax provision is as follows: Three Months Ended Three Months Ended Six Months Ended Six Months Ended June 30, 2019 June 30, 2018 June 30, 2019 June 30, 2018 (unaudited) (unaudited) (unaudited) (unaudited) Statutory federal income tax provision $ 412,581 $ 901,026 $ 397,451 $ 1,212,339 Effect of non-taxable REIT loss 221,998 96,574 436,734 (7,720 ) State income tax provision 180,777 325,414 299,328 424,350 $ 815,356 $ 1,323,014 $ 1,133,513 $ 1,628,969 As of June 30, 2019 and December 31, 2018, we had a net deferred tax asset of approximately $4.0 million and $5.1 million, respectively, of which, approximately $3.4 million and $4.4 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 by such time. As of June 30, 2019 and December 31, 2018, the remainder of the deferred tax asset is attributable to year-to-year timing differences of approximately $0.6 million and $0.7 million, respectively, for accrued, but not deductible, employee performance awards, vacation and sick pay, bad debt allowance and depreciation. 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 June 30, 2019 and December 31, 2018, respectively. 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 June 30, 2019 and 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 • changes in the lease rental payments from the TRS Lessee to subsidiaries of the Operating Partnership.

Income (Loss) Per Share and Per

Income (Loss) Per Share and Per Unit	6 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
Income (Loss) Per Share and Per Unit	13. Income (Loss) Per Share and Per Unit Income (Loss) per Share . The limited partners’ outstanding limited partnership units in the Operating Partnership (which may be redeemed for common stock upon notice from the limited partner and following our election to redeem the units for stock rather than cash) have been excluded from the diluted earnings per share calculation as there would be no effect on the amounts since the limited partners’ share of income would also be added back to net income (loss). The shares of the Series B Preferred Stock and Series C Preferred Stock and Series D Preferred Stock are not convertible into or exchangeable for any other property or securities of the Company, except upon the occurrence of a change of control and have been excluded from the diluted earnings per share calculation as there would be no impact on the current controlling stockholders. The 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. The allocated and committed to be released shares have been included in the weighted average diluted earnings per share calculation, and the amount of compensation for allocated shares is reflected in net income. There are no ESOP units, therefore there is no dilution on the calculation of earnings per unit. The computation of basic and diluted net income per share is presented below. Three Months Ended Three Months Ended Six Months Ended Six Months Ended June 30, 2019 June 30, 2018 June 30, 2019 June 30, 2018 (unaudited) (unaudited) (unaudited) (unaudited) Numerator Net (loss) income available to common stockholders for basic and diluted computation $ (731,711 ) $ 1,352,414 $ (2,385,473 ) $ 1,114,071 Denominator Weighted average number of common shares outstanding 14,222,378 14,137,929 14,219,418 14,134,594 Weighted average number of Unearned ESOP Shares (595,943 ) (649,403 ) (600,730 ) (654,065 ) Total weighted average number of common shares outstanding for basic computation 13,626,435 13,488,526 13,618,688 13,480,529 Basic net (loss) income per share $ (0.05 ) $ 0.10 $ (0.18 ) $ 0.08 Weighted average number of common shares outstanding 14,222,378 14,138,878 14,219,418 14,140,205 Weighted average number of Unearned ESOP Shares (595,943 ) (649,403 ) (600,730 ) (654,065 ) Total weighted average number of common shares outstanding for diluted computation 13,626,435 13,489,475 13,618,688 13,486,140 Diluted net (loss) income per share $ (0.05 ) $ 0.10 $ (0.18 ) $ 0.08 Income Per Unit – The computation of basic and diluted net income per unit is presented below. Three Months Ended Three Months Ended Six Months Ended Six Months Ended June 30, 2019 June 30, 2018 June 30, 2019 June 30, 2018 (unaudited) (unaudited) (unaudited) (unaudited) Numerator Net (loss) income available to unitholders for basic computation $ (823,067 ) $ 1,522,745 $ (2,683,778 ) $ 1,254,389 Denominator Weighted average number of units outstanding 16,000,518 15,899,221 15,997,558 15,895,885 Basic and diluted net (loss) income per unit $ (0.05 ) $ 0.10 $ (0.17 ) $ 0.08

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2019
Subsequent Events [Abstract]
Subsequent Events	14. Subsequent Events On July 11, 2019, we paid a quarterly dividend (distribution) of $0.13 per common share (and unit) to those stockholders (and unitholders of the Operating Partnership) of record on June 14, 2019. On July 15, 2019, we paid a quarterly distribution of $0.50 per share (and unit) of Series B Preferred Stock (and Series B Preferred Units) to holders of the Series B Preferred Stock (and Series B Preferred Units) of record as of July 1, 2019. On July 15, 2019, we paid a quarterly distribution of $0.492188 per share (and unit) of Series C Preferred Stock (and Series C Preferred Units) to holders of the Series C Preferred Stock (and Series C Preferred Units) of record as of July 1, 2019. On July 15, 2019, we paid a quarterly distribution of $0.41823 per share (and unit) of Series D Preferred Stock (and Series D Preferred Units) to holders of the Series D Preferred Stock (and Series D Preferred Units) of record as of July 1, 2019. On July 29, 2019, we authorized payment of a quarterly dividend (distribution) of $0.13 per common share (and unit) to the stockholders (and unitholders of the Operating Partnership) of record as of September 13 On July 29, 2019, we authorized payment of a quarterly distribution of $0.50 per share (and unit) of Series B Preferred Stock (and Series B Preferred Units) to holders of the Series B Preferred Stock (and Series B Preferred Units) of record as of October 1, 2019, to be paid on October 15, 2019. On July 29, 2019, we authorized payment of a quarterly distribution of $0.4921875 per share (and unit) of Series C Preferred Stock (and Series C Preferred Units) to holders of the Series C Preferred Stock (and Series C Preferred Units) of record as of October 1 On July 29, 2019, we authorized payment of a quarterly distribution of $0.515625 per share (and unit) of Series D Preferred Stock (and Series D Preferred Units) to holders of the Series D Preferred Stock (and Series D Preferred Units) of record as of October 1

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2019
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 5 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.
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 and banqueting receivables. Ongoing evaluations of collectability are performed and an allowance for potential credit losses is provided against the portion of accounts receivable that is estimated to be uncollectible.
Inventories	Inventories – Inventories, consisting primarily of food and beverages, are stated at the lower of cost or 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 June 30, 2019 and December 31, 2018 were $443,092 and $ 471,996 , respectively. Amortization expense for the three-month periods ended June 30, 2019 and 2018, totaled $14,035 and $13,304, respectively, and for the six-month periods ended June 30, 2019 and 2018, totaled $28,904 and $30,336, respectively.
Right-of-Use Assets and Lease Obligations	Right-of-Use Assets and Lease Obligations – In February 2016, the Financial Accounting Standards Board (“FASB”) issued ASU 2016-02, Leases, which sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e., lessees and lessors). The new standard requires lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase by the lessee. This classification will determine whether lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease, respectively. A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification. In July 2018, the FASB issued ASU 2018-10, Codification Improvements to Topic 842, Leases, to clarify how to apply certain aspects of the new lease standard. In July 2018, the FASB also issued ASU 2018-11, Leases (Topic 842): Targeted Improvements, to give companies another option for transition and to provide lessors with a practical expedient to reduce the cost and complexity of implementing the new standard. The transition option allows companies to not apply the new lease standard in the comparative periods they present in their financial statements in the year of adoption. We adopted this standard on January 1, 2019. We elected the practical expedients allowed under the guidance and retained the original lease classification and historical accounting for initial direct costs for leases existing prior to the adoption date. We also elected not to restate prior periods for the impact of the adoption of the new standard. The adoption of this standard has resulted in the recognition of right-of-use assets and related liabilities to account for our future obligations under the acquired operating ground lease, equipment, office space, parking and land leases for which we are the lessee. See Notes 4 and 6 to the accompanying financial statements for additional disclosures on the adoption of this standard. As of June 30, 2019, we had right of use assets, net of approximately $3.2 million, and lease obligations of approximately $0.9 million. The right-of-use assets are included in investments in hotel properties, net and the lease obligations are included in accounts payable and accrued liabilities on the consolidated balance sheets.
Deferred Financing and Offering Costs	Deferred Financing and Offering Costs – Deferred financing costs are recorded at cost and consist of loan fees and other costs incurred in issuing debt 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. Deferred offering costs are netted against our equity offerings when the offering is complete, whereby the costs are offset against the equity funds raised in the future and included in additional paid-in capital on the consolidated balance sheets, or if the offering expires and the offering costs exceed the funds raised in the offering then the excess will be included in corporate general and administrative expenses in the consolidated statements of operations.
Derivative Instruments	Derivative Instruments – Our derivative instruments are reflected as assets or liabilities on the consolidated balance sheets 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 June 30, 2019 and December 31, 2018, respectively): Level 1 Level 2 Level 3 December 31, 2018 Interest Rate Cap (1) $ — $ 94,697 $ — Interest Rate Swap (2) $ — $ (984,677 ) $ — Mortgage loans (3) $ — $ (357,279,949 ) $ — Unsecured notes (4) $ (25,390,000 ) $ — $ — June 30, 2019 Interest Rate Caps (1) $ — $ 9,505 $ — Interest Rate Swap (2) $ — $ (2,224,095 ) $ — Mortgage loans (3) $ — $ (364,855,267 ) $ — (1) Interest rate caps, which cap the 1-month LIBOR rates between 2.5% and 3.25%. (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 outstanding principal balance, net of deferred financing costs on our Consolidated Balance Sheets as of June 30, 2019 and December 31, 2018. ( 4 ) Unsecured notes are recorded at outstanding principal balance, net of deferred financing costs on our Consolidated Balance Sheets as of December 31, 2018.
Noncontrolling Interest in Operating Partnership	Noncontrolling Interest in Operating Partnership – Certain hotel properties were 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 statements of operations pursuant to the terms of each lease. Lease revenue was approximately $0.4 million and $0.4 million, for the three months ended June 30, 2019 and 2018, respectively, and approximately $0.8 million and $0.9 million for the six months ended June 30, 2019 and 2018, respectively. A schedule of minimum future lease payments receivable for the remaining six and twelve-month periods is as follows: For the remaining six months ending December 31, 2019 $ 808,052 December 31, 2020 1,452,866 December 31, 2021 1,395,363 December 31, 2022 1,221,343 December 31, 2023 612,940 December 31, 2024 and thereafter 3,158,088 Total $ 8,648,652
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. As of June 30, 2019 and December 31, 2018, deferred tax assets totaled approximately $4.0 million and $5.1 million, respectively, of which approximately $3.4 million and $4.4 million relate 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 June 30, 2019 and 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 June 30, 2019, 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 June 30, 2019, the tax years that remain subject to examination, because of NOL carryforwards, by the major tax jurisdictions to which MHI TRS is subject include the years 2009 and 2014 through 2018. The Operating Partnership is generally not subject to federal and state income taxes as the unit holders of the Partnership are subject to tax on their respective shares of the Partnership’s taxable income.
Stock-Based Compensation	Stock-based Compensation – The Company’s 2013 Long-Term Incentive Plan (the “2013 Plan”), which the Company’s stockholders approved in April 2013, permit the grant of stock options, restricted stock, unrestricted 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 such awards better align the interests of its employees with those of its stockholders. Under the 2013 Plan, the Company has made stock awards totaling 176,350 shares, including 143,350 non-restricted shares and 33,000 restricted shares issued to certain executives and employees and to its independent directors. All awards have vested except for 20,000 shares issued to one employee, which will vest over 4 years and 13,000 shares issued to the Company’s independent directors in February 2019, which will vest by December 31, 2019 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 June 30, 2019, no performance-based stock awards have been granted. Total compensation cost recognized under the 2013 Plan for the three months ended June 30, 2019 and 2018 was each $8,025 and for the six months ended June 30, 2019 and 2018 was $108,383 and $119,378 , Additionally, the Company sponsors and maintains an Employee Stock Ownership Plan (“ESOP”) and related trust for the benefit of its eligible employees. We reflect
Advertising	Advertising – Advertising costs were $90,052 and $ 147,804 for the three months ended June 30, 2019 and 2018, respectively and were $187,720 and $ 246,117 for the six months ended June 30, 2019 and 2018, respectively . Advertising costs are expensed as incurred.
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 three-month periods ending June 30, 2019 and 2018, we recognized $0 and $27,824, respectively and during the six-month periods ending June 30, 2019 and 2018, we recognized approximately $0.2 million and $0.9 million , respectively, in gain on involuntary conversion of assets, which is reflected in the consolidated statements of operations.
Comprehensive Income	Comprehensive Income – Comprehensive income as defined, includes all changes in equity during a period from non-owner sources. We do not have any items of comprehensive income other than net income.
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 (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
New Accounting Pronouncements	New Accounting Pronouncements – In July 2018, 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. We adopted the practical expedients allowed under the guidance and retained the original lease classification and historical accounting for initial direct costs for leases existing prior to the adoption date on January 1, 2019. We also elected not to restate prior periods for the impact of the adoption of the new standard and instead recognized a cumulative-effect adjustment to beginning retained earnings as of the adoption date. These standards resulted 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. The right of use assets and corresponding liabilities were recorded in the amount of approximately $6.3 million and $3.8 million, respectively as of January 1, 2019. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842)

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2019
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 June 30, 2019 and December 31, 2018, respectively): Level 1 Level 2 Level 3 December 31, 2018 Interest Rate Cap (1) $ — $ 94,697 $ — Interest Rate Swap (2) $ — $ (984,677 ) $ — Mortgage loans (3) $ — $ (357,279,949 ) $ — Unsecured notes (4) $ (25,390,000 ) $ — $ — June 30, 2019 Interest Rate Caps (1) $ — $ 9,505 $ — Interest Rate Swap (2) $ — $ (2,224,095 ) $ — Mortgage loans (3) $ — $ (364,855,267 ) $ — (1) Interest rate caps, which cap the 1-month LIBOR rates between 2.5% and 3.25%. (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 outstanding principal balance, net of deferred financing costs on our Consolidated Balance Sheets as of June 30, 2019 and December 31, 2018. ( 4 ) Unsecured notes are recorded at outstanding principal balance, net of deferred financing costs on our Consolidated Balance Sheets as of December 31, 2018.
Schedule of Minimum Future Lease Payments Receivable	A schedule of minimum future lease payments receivable for the remaining six and twelve-month periods is as follows: For the remaining six months ending December 31, 2019 $ 808,052 December 31, 2020 1,452,866 December 31, 2021 1,395,363 December 31, 2022 1,221,343 December 31, 2023 612,940 December 31, 2024 and thereafter 3,158,088 Total $ 8,648,652

Acquisition of Hotel Properti_2

Acquisition of Hotel Properties (Tables)	3 Months Ended
	Mar. 31, 2019
Business Combinations And Or Asset Acquisitions [Abstract]
Allocation of Purchase Price Based on Fair Values	The allocation of the respective purchase price is based on fair value as follows: Hyatt Centric Arlington 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 ) Prepaid expenses, inventory and other assets — Net cash $ 79,732,716

Investment in Hotel Propertie_2

Investment in Hotel Properties, Net (Tables)	3 Months Ended
	Mar. 31, 2019
Real Estate [Abstract]
Schedule of Investment in Hotel Properties, Net	Investment in hotel properties, net as of June 30, 2019 and December 31, 2018 consisted of the following: June 30, 2019 December 31, 2018 (unaudited) Land and land improvements $ 65,718,175 $ 64,409,730 Buildings and improvements 426,913,435 424,657,327 Right of use assets 3,665,783 — Furniture, fixtures and equipment 56,421,824 57,830,987 552,719,217 546,898,044 Less: accumulated depreciation and impairment (116,209,553 ) (111,172,230 ) Investment in Hotel Properties, Net $ 436,509,664 $ 435,725,814

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2019
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 June 30, December 31, Prepayment Maturity Amortization Interest Property 2019 2018 Penalties Date Provisions Rate (unaudited) The DeSoto (1) $ 33,471,604 $ 33,824,350 Yes 7/1/2026 25 years 4.25% DoubleTree by Hilton Jacksonville Riverfront (2) 34,500,796 34,773,546 Yes 7/11/2024 30 years 4.88% DoubleTree by Hilton Laurel (3) 8,691,516 8,845,299 Yes 8/5/2021 25 years 5.25% DoubleTree by Hilton Philadelphia Airport (4) 41,727,228 42,026,986 None 7/31/2023 30 years LIBOR plus 2.27 % DoubleTree by Hilton Raleigh- Brownstone University (5) 18,300,000 18,300,000 Yes 7/27/2022 (5) LIBOR plus 4.00 % DoubleTree Resort by Hilton Hollywood Beach (6) 56,642,669 57,064,824 n/a 10/1/2025 30 years 4.913% Georgian Terrace (7) 43,840,298 44,202,968 n/a 6/1/2025 30 years 4.42% Hotel Alba Tampa, Tapestry Collection by Hilton (8) 18,187,788 18,307,000 None 6/30/2022 (8) LIBOR plus 3.75 % Hotel Ballast Wilmington, Tapestry Collection by Hilton (9) 33,892,701 34,236,104 Yes 1/1/2027 25 years 4.25% Hyatt Centric Arlington (10) 49,534,098 49,885,045 Yes 9/18/2028 30 years 5.25% Sheraton Louisville Riverside (11) 11,290,788 11,414,300 Yes 12/1/2026 25 years 4.27% The Whitehall (12) 14,595,471 14,733,458 Yes 2/26/2023 25 years LIBOR plus 3.50 % Total Mortgage Principal Balance $ 364,674,957 $ 367,613,880 Deferred financing costs, net (2,765,926 ) (2,951,327 ) Unamortized premium on loan 153,951 166,292 Total Mortgage Loans, Net $ 362,062,982 $ 364,828,845 (1) 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. (2) 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. (3) The note is subject to a pre-payment penalty until April 2021. Prepayment can be made without penalty thereafter. (4) The note bears a floating interest rate of 1-month LIBOR plus 2.27%, but we entered into a swap agreement to fix the rate at 5.237%. Under the swap agreement, notional amounts approximate the declining balance of the loan and we are responsible for any potential termination fees associated with early termination of the swap agreement. (5) The 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 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. (6) With limited exception, the note may not be prepaid until June 2025. (7) With limited exception, the note may not be prepaid until February 2025. (8) 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 $26,812; the note provides that the mortgage can be extended for two additional periods of one year each, subject to certain conditions. (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 1-month LIBOR plus 3.5%, subject to a floor rate of 4.0%, and is subject to prepayment penalties on a declining scale with a 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 for the remaining six and twelve month periods, without respect to any extension of loan maturity, were as follows: For the remaining six months ending December 31, 2019 $ 3,169,980 December 31, 2020 6,611,161 December 31, 2021 14,815,760 December 31, 2022 42,296,175 December 31, 2023 59,970,849 December 31, 2024 and thereafter 237,811,032 Total future maturities $ 364,674,957

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2019
Commitments And Contingencies Disclosure [Abstract]
Schedule of Minimum Future Lease Payments	A schedule of minimum future lease payments for the following six and twelve-month periods is as follows: For the remaining six months ending December 31, 2019 $ 84,862 December 31, 2020 146,032 December 31, 2021 139,181 December 31, 2022 116,998 December 31, 2023 115,682 December 31, 2024 and thereafter 668,285 Total $ 1,271,040

Preferred Stock and Units (Tabl

Preferred Stock and Units (Tables)	6 Months Ended
	Jun. 30, 2019
Preferred Stock And Units [Abstract]
Schedule of Series of Cumulative Redeemable Perpetual Preferred Stock	The following table sets forth our Cumulative Redeemable Perpetual Preferred Stock by series: Per Number of Shares Annum Liquidation Issued and Outstanding as of Distributions Preferred Stock - Series Rate Preference June 30, 2019 December 31, 2018 Per Share Series B Preferred Stock 8.000 % $25.00 1,610,000 1,610,000 $ 0.500000 Series C Preferred Stock 7.875 % $25.00 1,352,141 1,352,141 $ 0.492188 Series D Preferred Stock 8.250 % $25.00 1,200,000 - $ 0.515625 (1) (1) The initial distribution for the Series D Preferred Stock paid on July 15, 2019 was pro-rated per the terms of the security in the amount of $0.41823 per share.
Schedule of Series of Cumulative Redeemable Perpetual Preferred Units	The following table sets forth our Cumulative Redeemable Perpetual Preferred Units by series: Per Number of Units Annum Liquidation Issued and Outstanding as of Distributions Preferred Units - Series Rate Preference June 30, 2019 December 31, 2018 Per Unit Series B Preferred Units 8.000 % $25.00 1,610,000 1,610,000 $ 0.500000 Series C Preferred Units 7.875 % $25.00 1,352,141 1,352,141 $ 0.492188 Series D Preferred Units 8.250 % $25.00 1,200,000 - $ 0.515625 (1) (1) The initial distribution for the Series D Preferred Units paid on July 15, 2019 was pro-rated per the terms of the security in the amount of $0.41823 per unit.

Retirement Plans (Tables)

Retirement Plans (Tables)	6 Months Ended
	Jun. 30, 2019
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: June 30, 2019 December 31, 2018 Number of Shares Fair Value Number of Shares Fair Value Allocated shares 66,308 $ 461,504 33,832 $ 189,798 Committed to be released shares 18,802 130,860 35,474 199,007 Total Allocated and Committed-to-be-Released 85,110 $ 592,364 69,306 $ 388,805 Unallocated shares 594,378 4,136,872 613,194 3,440,020 Total ESOP Shares 679,488 $ 4,729,236 682,500 $ 3,828,825

Indirect Hotel Operating Expe_2

Indirect Hotel Operating Expenses (Tables)	6 Months Ended
	Jun. 30, 2019
Other Income And Expenses [Abstract]
Summary of Indirect Hotel Operating Expenses	Indirect hotel operating expenses consists of the following expenses incurred by the hotels: Three Months Ended Three Months Ended Six Months Ended Six Months Ended June 30, 2019 June 30, 2018 June 30, 2019 June 30, 2018 (unaudited) (unaudited) (unaudited) (unaudited) Sales and marketing $ 4,450,705 $ 4,303,516 $ 8,684,028 $ 8,030,938 General and administrative 3,999,951 3,897,618 7,812,424 7,340,076 Repairs and maintenance 1,962,867 1,967,457 3,983,460 3,768,599 Utilities 1,503,863 1,583,655 3,010,526 2,985,633 Property taxes 1,731,001 1,625,503 3,461,466 3,162,877 Management fees, including incentive 1,341,497 1,388,995 2,739,187 2,504,854 Franchise fees 1,373,004 1,261,787 2,501,755 2,185,311 Insurance 922,868 733,507 1,673,810 1,368,176 Information and telecommunications 619,837 420,460 1,242,915 802,065 Other 268,107 457,787 453,809 725,012 Total indirect hotel operating expenses $ 18,173,700 $ 17,640,285 $ 35,563,380 $ 32,873,541

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Components of Income Tax Provision	The components of the income tax provision for the three and six months ended June 30, 2019 and 2018 are as follows: Three Months Ended Three Months Ended Six Months Ended Six Months Ended June 30, 2019 June 30, 2018 June 30, 2019 June 30, 2018 (unaudited) (unaudited) (unaudited) (unaudited) Current: Federal $ (92,333 ) $ — $ (92,333 ) $ — State 37,424 61,347 70,902 107,040 (54,909 ) 61,347 (21,431 ) 107,040 Deferred: Federal 726,912 997,600 926,518 1,204,619 State 143,353 264,067 228,426 317,310 870,265 1,261,667 1,154,944 1,521,929 $ 815,356 $ 1,323,014 $ 1,133,513 $ 1,628,969
Reconciliation of Statutory Federal Income Tax Provision	A reconciliation of the statutory federal income tax provision to the Company’s income tax provision is as follows: Three Months Ended Three Months Ended Six Months Ended Six Months Ended June 30, 2019 June 30, 2018 June 30, 2019 June 30, 2018 (unaudited) (unaudited) (unaudited) (unaudited) Statutory federal income tax provision $ 412,581 $ 901,026 $ 397,451 $ 1,212,339 Effect of non-taxable REIT loss 221,998 96,574 436,734 (7,720 ) State income tax provision 180,777 325,414 299,328 424,350 $ 815,356 $ 1,323,014 $ 1,133,513 $ 1,628,969

Income (Loss) Per Share and P_2

Income (Loss) Per Share and Per Unit (Tables)	6 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
Computation of Basic and Diluted Net Income Per Share	The computation of basic and diluted net income per share is presented below. Three Months Ended Three Months Ended Six Months Ended Six Months Ended June 30, 2019 June 30, 2018 June 30, 2019 June 30, 2018 (unaudited) (unaudited) (unaudited) (unaudited) Numerator Net (loss) income available to common stockholders for basic and diluted computation $ (731,711 ) $ 1,352,414 $ (2,385,473 ) $ 1,114,071 Denominator Weighted average number of common shares outstanding 14,222,378 14,137,929 14,219,418 14,134,594 Weighted average number of Unearned ESOP Shares (595,943 ) (649,403 ) (600,730 ) (654,065 ) Total weighted average number of common shares outstanding for basic computation 13,626,435 13,488,526 13,618,688 13,480,529 Basic net (loss) income per share $ (0.05 ) $ 0.10 $ (0.18 ) $ 0.08 Weighted average number of common shares outstanding 14,222,378 14,138,878 14,219,418 14,140,205 Weighted average number of Unearned ESOP Shares (595,943 ) (649,403 ) (600,730 ) (654,065 ) Total weighted average number of common shares outstanding for diluted computation 13,626,435 13,489,475 13,618,688 13,486,140 Diluted net (loss) income per share $ (0.05 ) $ 0.10 $ (0.18 ) $ 0.08
Computation of Basic and Diluted Net Income Per Unit	The computation of basic and diluted net income per unit is presented below. Three Months Ended Three Months Ended Six Months Ended Six Months Ended June 30, 2019 June 30, 2018 June 30, 2019 June 30, 2018 (unaudited) (unaudited) (unaudited) (unaudited) Numerator Net (loss) income available to unitholders for basic computation $ (823,067 ) $ 1,522,745 $ (2,683,778 ) $ 1,254,389 Denominator Weighted average number of units outstanding 16,000,518 15,899,221 15,997,558 15,895,885 Basic and diluted net (loss) income per unit $ (0.05 ) $ 0.10 $ (0.17 ) $ 0.08

Organization and Description _2

Organization and Description of Business - Additional Information (Detail)

May 20, 2019USD ($)

May 01, 2019USD ($)shares

Apr. 26, 2019USD ($)

Apr. 18, 2019USD ($)shares

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 ($)

Dec. 31, 2018$ / sharesshares

Jun. 30, 2019USD ($)HotelRoom$ / sharesshares

Jun. 30, 2018USD ($)

Jun. 30, 2019USD ($)HotelRoom$ / sharesshares

Jul. 30, 2018USD ($)

Dec. 02, 2016$ / shares

Organization Consolidation and Presentation of Financial Statements [Line Items]

Date of incorporation

Aug. 20, 2004

Investment in number of hotels | Hotel

12

12

Rooms in hotel | Room

3,156

3,156

Date of commencement of business

Dec. 21, 2004

Number of hotels acquired before commencement of business | Hotel

6

Proceeds from sale and issuance of unsecured notes

$ 25,000,000

Loan rate swapped for fixed interest rate

5.237%

5.237%

Common stock, par value | $ / shares

$ 0.01

$ 0.01

$ 0.01

$ 0.01

Preferred stock, shares authorized | shares

11,000,000

11,000,000

11,000,000

Proceeds from sale of preferred stock, net

$ 28,377,519

8.25% Series D Cumulative Redeemable Perpetual Preferred Stock [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Preferred stock, dividend rate percentage

8.25%

Preferred stock, shares issued | shares

120,000

1,080,000

Gross proceeds before underwriting discounts and commissions and expenses

$ 3,000,000

$ 27,000,000

Proceeds from sale of preferred stock, net

$ 28,400,000

7.25% Senior Unsecured Notes due 2021 [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Interest rate

7.25%

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Common stock, par value | $ / shares

$ 0.01

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

0

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, shares authorized | shares

400,000

Preferred stock, dividend rate percentage

7.875%

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

Fifth Third Bank [Member] | Crowne Plaza Hampton Marina [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Mortgage loans

$ 18,200,000

Amortization Period

25 years

Extended maturity period

two additional periods of one year each

Debt instrument maturity date

Jun. 30, 2022

Period subject to certain terms and conditions

2 years

LIBOR [Member] | Minimum [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Interest rate cap for loan

2.50%

2.50%

2.50%

LIBOR [Member] | Maximum [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Interest rate cap for loan

3.25%

3.25%

3.25%

LIBOR [Member] | Fifth Third Bank [Member] | Crowne Plaza Hampton Marina [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Floating rate of interest rate

3.00%

3.75%

Floating interest rate period

1 month

1 month

Hyatt Centric Arlington [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Rooms in hotel | Room

318

Mortgage loans

$ 57,000,000

Hotel property aggregate purchase price

$ 79,700,000

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Interest rate

5.25%

Mortgage loans

$ 50,000,000

Amortization Period

30 years

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] | Minimum [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Debt instrument prepayment penalty period

6 years

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] | 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

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

3.50%

Initial term of ground lease expires year

2025

Number of additional renewal periods extended under ground lease | RenewalPeriod

5

Duration period under ground lease for each renewal periods extended

10 years

7.25% Senior Unsecured Notes due 2021 [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Proceeds from sale and issuance of unsecured notes

$ 25,000,000

Interest rate

7.25%

7.25%

Proceeds from unsecured notes net of estimated expenses

$ 23,300,000

Debt instrument maturity date

Feb. 15, 2021

Debt instrument redeemed date

May 20, 2019

May 20, 2019

Debt instrument redeemed, principal amount

$ 25,000,000

Percentage of redemption price equal to principal amount

101.00%

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Interest rate

7.25%

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Mortgage loans

$ 50,000,000

Debt instrument maturity term

3 years

Extended maturity period

two 1-year

Monthly principal payments

$ 78,650

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Floating rate of interest rate

3.00%

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

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Monthly principal payments

$ 100,000

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Monthly principal payments

150,000

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Monthly principal payments

$ 250,000

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Floating rate of interest rate

5.00%

Hotel Ballast [Member] | Mortgage Loans [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Additional proceeds on mortgage loan

$ 5,000,000

The Whitehall [Member] | Mortgage Loans [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Amortization Period

25 years

25 years

Extended maturity date

Feb. 26, 2023

Floating rate of interest rate

3.50%

Debt instrument maturity date

Feb. 26, 2023

Floating interest rate period

1 month

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]

Amortization Period

30 years

Debt instrument maturity date

Jul. 11, 2024

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Mortgage loans

$ 18,300,000

Debt instrument maturity term

4 years

Extended maturity period

1-year

Mortgage loan additional earn-out provision

$ 5,200,000

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

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Floating rate of interest rate

4.00%

Interest rate cap for loan

3.25%

Doubletree By Hilton Raleigh Brownstone - University [Member] | Mortgage Loans [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Debt instrument maturity term

4 years

Extended maturity period

P1Y

Floating rate of interest rate

4.00%

Derivative maturity limit

Aug. 1, 2022

Notional amount

$ 23,500,000

$ 23,500,000

Debt instrument prepayment lockout period

12 months

Debt instrument maturity date

Jul. 27, 2022

Debt instrument prepayment penalty period

2 years

Floating interest rate period

1 month

Doubletree By Hilton Raleigh Brownstone - University [Member] | Mortgage Loans [Member] | LIBOR [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Interest rate cap for loan

3.25%

3.25%

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Mortgage loans

$ 42,200,000

$ 30,000,000

Amortization Period

30 years

Swap agreement term

5 years

Debt instrument maturity date

Jul. 31, 2023

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]

Amortization Period

30 years

Floating rate of interest rate

2.27%

Debt instrument maturity date

Jul. 31, 2023

Floating interest rate period

1 month

Operating Partnership [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Percentage of operating partnership owned

88.90%

88.90%

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Detail)	3 Months Ended		6 Months Ended
	Jun. 30, 2019USD ($)shares	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)Segmentshares	Jun. 30, 2018USD ($)	Jan. 01, 2019USD ($)	Dec. 31, 2018USD ($)
Summary Of Significant Accounting Policies [Line Items]
Federal Deposit Insurance Corporation protection limits	$ 250,000		$ 250,000
Un-amortized franchise fees	443,092		443,092			$ 471,996
Amortization expense	14,035	$ 13,304	28,904	$ 30,336
Deferred income taxes	3,976,235		3,976,235			5,131,179
Deferred tax assets related to net operating losses	3,400,000		$ 3,400,000			4,400,000
Minimum percentage of likelihood of realization of deferred tax assets			50.00%
Deferred tax assets valuation allowance	0		$ 0
Uncertain tax positions	0		0			$ 0
Compensation cost recognized			241,636	241,221
Advertising cost	90,052	147,804	187,720	246,117
Gain on involuntary conversion of assets	0	27,824	$ 161,334	898,565
Number of reportable segment | Segment			1
ESOP [Member]
Summary Of Significant Accounting Policies [Line Items]
Compensation cost recognized	67,160	61,673	$ 133,253	121,843
Director [Member]
Summary Of Significant Accounting Policies [Line Items]
Shares issued but not vested | shares			13,000
Shares award vesting date			Dec. 31, 2019
2013 Plan [Member]
Summary Of Significant Accounting Policies [Line Items]
Shares issued under plan | shares			176,350
Performance-based stock awards granted | shares			0
Compensation cost recognized	8,025	8,025	$ 108,383	119,378
2013 Plan [Member] | Director [Member]
Summary Of Significant Accounting Policies [Line Items]
Shares issued under plan | shares			33,000
2013 Plan [Member] | Executives and Employees [Member]
Summary Of Significant Accounting Policies [Line Items]
Shares issued under plan | shares			143,350
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
Other Operating Departments [Member]
Summary Of Significant Accounting Policies [Line Items]
Lease revenue	400,000	$ 400,000	$ 800,000	$ 900,000
ASU 2016-02 [Member]
Summary Of Significant Accounting Policies [Line Items]
Operating Lease, right of use assets, net	3,200,000		3,200,000
Operating lease obligations	$ 900,000		$ 900,000
ASU 2018-11 [Member]
Summary Of Significant Accounting Policies [Line Items]
Operating Lease, right of use assets, net					$ 6,300,000
Operating lease obligations					$ 3,800,000
Maximum [Member] | 2013 Plan [Member] | Employees [Member]
Summary Of Significant Accounting Policies [Line Items]
Restricted, unrestricted and performance stock awards permitted to grant to employees and directors | shares	350,000		350,000
Maximum [Member] | 2013 Plan [Member] | Director [Member]
Summary Of Significant Accounting Policies [Line Items]
Restricted, unrestricted and performance stock awards permitted to grant to employees and directors | shares	750,000		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			5 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 ($)	Jun. 30, 2019	Dec. 31, 2018
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 Caps [Member]
Derivatives Fair Value [Line Items]
Interest rate cap	$ 9,505	94,697
Level 2 [Member] | Interest Rate Swap [Member]
Derivatives Fair Value [Line Items]
Interest rate cap	(2,224,095)	(984,677)
Level 2 [Member] | Mortgage Loans [Member]
Derivatives Fair Value [Line Items]
Debt instruments measured at fair value	$ (364,855,267)	$ (357,279,949)

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Schedule of Recurring Assets and Liabilities Measured at Fair Value (Parenthetical) (Detail)	Jun. 30, 2019	Dec. 31, 2018
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)	Jun. 30, 2019USD ($)
Leases [Abstract]
For the remaining six months ending December 31, 2019	$ 808,052
December 31, 2020	1,452,866
December 31, 2021	1,395,363
December 31, 2022	1,221,343
December 31, 2023	612,940
December 31, 2024 and thereafter	3,158,088
Total	$ 8,648,652

Acquisition of Hotel Properti_3

Acquisition of Hotel Properties - Additional Information (Detail) - Hyatt Centric Arlington [Member] - USD ($) $ in Millions	Mar. 01, 2018	Jun. 30, 2018	Jun. 30, 2019
Business Acquisition [Line Items]
Fair value of consideration	$ 79.7
Initial purchase price	$ 81
Total revenue from acquisitions		$ 8.6	$ 11.3
Net income (loss) from acquisitions		$ 2.1	$ 0.5

Acquisition of Hotel Properti_4

Acquisition of Hotel Properties - Allocation of Purchase Price Based on Fair Value (Detail) - USD ($)	Mar. 01, 2018	Jun. 30, 2018
Business Acquisition [Line Items]
Net cash		$ 79,732,716
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

Investment in Hotel Propertie_3

Investment in Hotel Properties, Net - Schedule of Investment in Hotel Properties, Net (Detail) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Investment in Hotel Properties, Gross	$ 552,719,217	$ 546,898,044
Less: accumulated depreciation and impairment	(116,209,553)	(111,172,230)
Investment in Hotel Properties, Net	436,509,664	435,725,814
Land and Land Improvements [Member]
Property, Plant and Equipment [Line Items]
Investment in Hotel Properties, Gross	65,718,175	64,409,730
Buildings and Improvements [Member]
Property, Plant and Equipment [Line Items]
Investment in Hotel Properties, Gross	426,913,435	424,657,327
Furniture, Fixtures and Equipment [Member]
Property, Plant and Equipment [Line Items]
Investment in Hotel Properties, Gross	56,421,824	$ 57,830,987
Hotel Properties [Member]
Property, Plant and Equipment [Line Items]
Right of use assets	$ 3,665,783

Investment in Hotel Propertie_4

Investment in Hotel Properties, Net - Additional Information (Detail) - ASU 2016-02 [Member] $ in Millions	6 Months Ended
	Jun. 30, 2019USD ($)
Lessee Lease Description [Line Items]
Operating lease incremental borrowing rates	8.00%
Operating lease existence of option to extend	true
Operating Lease, right of use assets, net	$ 3.2
Operating lease liability	$ 0.9
Operating lease description	on January 1, 2019, we recognized right-of-use assets and related liabilities related to our acquired operating ground lease, equipment, parking, office space and land leases, all of which are operating leases.
Minimum [Member]
Lessee Lease Description [Line Items]
Operating lease term of contract	1 year
Maximum [Member]
Lessee Lease Description [Line Items]
Operating lease term of contract	50 years

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($) $ in Millions	May 20, 2019	Feb. 12, 2018	Jun. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Mortgage loan outstanding balance			$ 362.1	$ 364.8
7.25% Senior Unsecured Notes due 2021 [Member]
Debt Instrument [Line Items]
Interest rate on loan	7.25%	7.25%
Borrowed amount		$ 25
Debt instrument maturity date			Feb. 15, 2021
Debt instrument redeemed date	May 20, 2019		May 20, 2019
Notes face value		101.00%

Debt - Schedule of Mortgage Deb

Debt - Schedule of Mortgage Debt Obligations on Hotels (Detail) - USD ($)	Feb. 26, 2018	Jun. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Mortgage loans		$ 364,674,957	$ 367,613,880
Deferred financing costs, net		(2,765,926)	(2,951,327)
Unamortized premium on loan		153,951	166,292
Total Mortgage Loans, Net		362,062,982	364,828,845
The DeSoto [Member] | Mortgage Loans [Member]
Debt Instrument [Line Items]
Mortgage loans		$ 33,471,604	33,824,350
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		$ 34,500,796	34,773,546
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		$ 8,691,516	8,845,299
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		$ 41,727,228	42,026,986
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	18,300,000
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		$ 56,642,669	57,064,824
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		$ 43,840,298	44,202,968
Prepayment Penalties		n/a
Maturity Date		Jun. 1, 2025
Amortization Provisions, Term		30 years
Interest rate applicable to the mortgage loan		4.42%
Hotel Alba Tampa, Tapestry Collection by Hilton [Member] | Mortgage Loans [Member]
Debt Instrument [Line Items]
Mortgage loans		$ 18,187,788	18,307,000
Prepayment Penalties		None
Maturity Date		Jun. 30, 2022
Interest rate applicable to the mortgage loan		3.75%
Hotel Ballast Wilmington,Tapestry Collection by Hilton [Member] | Mortgage Loans [Member]
Debt Instrument [Line Items]
Mortgage loans		$ 33,892,701	34,236,104
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		$ 49,534,098	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		$ 11,290,788	11,414,300
Prepayment Penalties		Yes
Maturity Date		Dec. 1, 2026
Amortization Provisions, Term		25 years
Interest rate applicable to the mortgage loan		4.27%
The Whitehall [Member] | Mortgage Loans [Member]
Debt Instrument [Line Items]
Mortgage loans		$ 14,595,471	$ 14,733,458
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	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Debt Instrument [Line Items]
Loan rate swapped for fixed interest rate		5.237%
Proceeds of mortgage debt			$ 65,300,000
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] | 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 without 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]
Amortization Period		30 years
Floating interest rate period		1 month
Excess Interest rate over LIBOR on mortgage debt		2.27%
Interest rate applicable to the mortgage loan		2.27%
Mortgage Loans [Member] | Double Tree By Hilton Philadelphia Airport [Member] | 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
Prepayment date before maturity		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
Prepayment date before maturity		Feb. 28, 2025
Interest rate applicable to the mortgage loan		4.42%
Mortgage Loans [Member] | Hotel Alba Tampa, Tapestry Collection by Hilton [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		$ 26,812
Interest rate applicable to the mortgage loan		3.75%
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
Interest rate applicable to the mortgage loan		4.27%
Mortgage Loans [Member] | The Whitehall [Member]
Debt Instrument [Line Items]
Amortization Period	25 years	25 years
Floating interest rate period		1 month
Excess Interest rate over LIBOR on mortgage debt		3.50%
Fixed interest rate		4.00%
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 ($)	Jun. 30, 2019	Dec. 31, 2018
Debt Disclosure [Abstract]
For the remaining six months ending December 31, 2019	$ 3,169,980
December 31, 2020	6,611,161
December 31, 2021	14,815,760
December 31, 2022	42,296,175
December 31, 2023	59,970,849
December 31, 2024 and thereafter	237,811,032
Total future maturities	$ 364,674,957	$ 367,613,880

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail)	Mar. 01, 2018USD ($)RenewalPeriod	Jun. 01, 2017USD ($)	May 31, 2014	Jun. 30, 2019USD ($)Hotel	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)ft²Hotel	Jun. 30, 2018USD ($)	Dec. 29, 2016USD ($)
Operating Leased Assets [Line Items]
Number of hotels under franchise license | Hotel						9
Maximum amount allocated to purchase common stock under ESOP								$ 5,000,000
Hotel Ballast [Member]
Operating Leased Assets [Line Items]
Monthly contribution of room revenues						4.00%
Restricted cash reserve						Amount equal to one-twelfth (1/12) of the annual real estate taxes due for the properties
The DeSoto [Member]
Operating Leased Assets [Line Items]
Monthly contribution of room revenues						4.00%
Restricted cash reserve						Amount equal to one-twelfth (1/12) of the annual real estate taxes due for the properties
DoubleTree by Hilton Brownstone-University [Member]
Operating Leased Assets [Line Items]
Monthly contribution of room revenues						4.00%
Restricted cash reserve						Amount equal to one-twelfth (1/12) of the annual real estate taxes due for the properties
Double Tree by Hilton Jacksonville Riverside [Member]
Operating Leased Assets [Line Items]
Monthly contribution of room revenues						4.00%
Restricted cash reserve						Amount equal to one-twelfth (1/12) of the annual real estate taxes due for the properties
DoubleTree Resort by Hilton Hollywood Beach [Member]
Operating Leased Assets [Line Items]
Monthly contribution of room revenues						4.00%
Restricted cash reserve						Amount equal to one-twelfth (1/12) of the annual real estate taxes due for the properties
Whitehall [Member]
Operating Leased Assets [Line Items]
Monthly contribution of room revenues						4.00%
Georgian Terrace [Member]
Operating Leased Assets [Line Items]
Monthly contribution of room revenues						4.00%
Restricted cash reserve						Amount equal to one-twelfth (1/12) of the annual real estate taxes due for the properties
Double Tree By Hilton Philadelphia Airport [Member]
Operating Leased Assets [Line Items]
Monthly contribution of room revenues						4.00%
Minimum [Member]
Operating Leased Assets [Line Items]
Franchise fees of room revenues						3.00%
Additional fees of room revenues						2.50%
Franchise agreement expiry date						2021-11
Maximum [Member]
Operating Leased Assets [Line Items]
Franchise fees of room revenues						5.00%
Additional fees of room revenues						6.00%
Franchise agreement expiry date						2038-03
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]
Number of wholly-owned hotels operated under master management agreement | Hotel				11		11
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]
Operating Leased Assets [Line Items]
Monthly contribution of room revenues						4.00%
Commercial unit purchase price	$ 79,700,000
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				$ 202,270	$ 190,634	$ 333,358	$ 255,229
Rental payments per year in base rent under ground lease	$ 50,000
Ground lease percentage rent on gross rooms revenues in excess of thresholds	3.50%
Initial term of ground lease expires year	2025
Number of additional renewal periods extended under ground lease | RenewalPeriod	5
Duration period under ground lease for each renewal periods extended	10 years
Commercial Unit of Planned Hyde Beach House Resort & Residences [Member]
Operating Leased Assets [Line Items]
Commercial unit purchase price		$ 5,100,000
Pre-opening services fee receivable		$ 750,000
Williamsburg Virginia [Member]
Operating Leased Assets [Line Items]
Area of commercial space leased | ft²						5,216
Rent expense				26,984	22,552	$ 53,968	45,104
Commencement date of agreement						Sep. 1, 2009
Lease renewable expiration date						Aug. 31, 2019
The DeSoto Hotel Property [Member]
Operating Leased Assets [Line Items]
Area of commercial space leased | ft²						2,086
Operating lease, expiring date						Oct. 31, 2006
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				18,246	18,246	$ 36,492	36,492
Hotel Alba [Member]
Operating Leased Assets [Line Items]
Operating lease, expiring date						Jul. 31, 2024
Rent expense				$ 651	$ 651	$ 1,301	$ 1,301
Lease agreement						5 years
Commencement date of agreement						Jul. 31, 2009
Lessee, operating lease, option to extend			In May 2014, we extended the agreement for an additional five years. The agreement expires in July 2024.
Lessee, operating lease, existence of option to extend [true false]			true
Annual payment						$ 2,432
Additional renewal of agreement			5 years	5 years		5 years
Furniture, Fixtures and Equipment [Member]
Operating Leased Assets [Line Items]
Financing arrangement expiration date						2019-07
Financing arrangement expiration date						2025-06
Six Year Operating Lease Property [Member] | The DeSoto Hotel Property [Member]
Operating Leased Assets [Line Items]
Duration of operating lease term						6 years
Ninety Nine Year Operating Lease Property [Member] | The DeSoto 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)	Jun. 30, 2019USD ($)
Finance Lease Liabilities Payments Due [Abstract]
For the remaining six months ending December 31, 2019	$ 84,862
December 31, 2020	146,032
December 31, 2021	139,181
December 31, 2022	116,998
December 31, 2023	115,682
December 31, 2024 and thereafter	668,285
Total	$ 1,271,040

Preferred Stock and Units - Add

Preferred Stock and Units - Additional Information (Detail) - USD ($)	Aug. 31, 2018	Apr. 30, 2019	Dec. 31, 2018	Sep. 30, 2018	May 31, 2019	Jun. 30, 2019	Jun. 30, 2019	Dec. 31, 2018	May 20, 2019	Feb. 12, 2018
Preferred Units [Line Items]
Preferred stock, shares authorized			11,000,000			11,000,000	11,000,000	11,000,000
Preferred stock, liquidation preference per share			$ 25			$ 25	$ 25	$ 25
Proceeds from sale of preferred stock, net							$ 28,377,519
7.25% Senior Unsecured Notes due 2021 [Member]
Preferred Units [Line Items]
Interest rate on loan									7.25%	7.25%
Sotherly Hotels LP [Member]
Preferred Units [Line Items]
Preferred stock, liquidation preference per share			$ 25			$ 25	$ 25	$ 25
Proceeds from sale of preferred stock, net							$ 28,377,519
Sotherly Hotels LP [Member] | 7.25% Senior Unsecured Notes due 2021 [Member]
Preferred Units [Line Items]
Interest rate on loan					7.25%
Sotherly Hotels LP [Member] | 8.25% Series D Cumulative Redeemable Perpetual Preferred Units [Member]
Preferred Units [Line Items]
Operating partnership preferred partnership units issued total					1,200,000
Preferred units, dividend rate percentage					8.25%		8.25%	8.25%
Proceeds from sale of preferred units, net					$ 28,400,000
Sotherly Hotels LP [Member] | 7.875% Series C Cumulative Redeemable Perpetual Preferred Units [Member]
Preferred Units [Line Items]
Operating partnership preferred partnership units issued total			52,141	52,141				52,141
Preferred units, dividend rate percentage			7.875%	7.875%			7.875%	7.875%
Proceeds from sale of preferred units, net			$ 1,000,000	$ 1,000,000
Sales Agency Agreement [Member] | Sandler O’Neill [Member]
Preferred Units [Line Items]
Preferred stock, par value	$ 0.01
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	11,000,000
Preferred stock, liquidation preference per share			$ 25			$ 25	$ 25	$ 25
Preferred stock, par value			$ 0.01			$ 0.01	$ 0.01	$ 0.01
Preferred stock, dividend rate percentage							7.875%	7.875%
Preferred stock, shares issued			1,352,141			1,352,141	1,352,141	1,352,141
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						0	0	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
8.25% Series D Cumulative Redeemable Perpetual Preferred Stock [Member]
Preferred Units [Line Items]
Preferred stock, shares authorized			11,000,000			11,000,000	11,000,000	11,000,000
Preferred stock, liquidation preference per share			$ 25			$ 25	$ 25	$ 25
Preferred stock, par value			$ 0.01			$ 0.01	$ 0.01	$ 0.01
Preferred stock, dividend rate percentage							8.25%	8.25%
Proceeds from sale of preferred stock, net		$ 28,400,000
Preferred stock, shares issued		1,200,000	0			1,200,000	1,200,000	0

Preferred Stock and Units - Sch

Preferred Stock and Units - Schedule of Series of Cumulative Redeemable Perpetual Preferred Stock (Detail) - $ / shares	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018	Apr. 30, 2019
Class Of Stock [Line Items]
Preferred Stock, Liquidation Preference	$ 25	$ 25
8.0% Series B Cumulative Redeemable Perpetual Preferred Stock [Member]
Class Of Stock [Line Items]
Preferred Stock, Per Annum Rate	8.00%	8.00%
Preferred Stock, Liquidation Preference	$ 25	$ 25
Preferred Stock, Number of Shares Issued	1,610,000	1,610,000
Preferred Stock, Number of Shares Outstanding	1,610,000	1,610,000
Preferred Stock, Distributions Per Share	$ 0.500000
7.875% Series C Cumulative Redeemable Perpetual Preferred Stock [Member]
Class Of Stock [Line Items]
Preferred Stock, Per Annum Rate	7.875%	7.875%
Preferred Stock, Liquidation Preference	$ 25	$ 25
Preferred Stock, Number of Shares Issued	1,352,141	1,352,141
Preferred Stock, Number of Shares Outstanding	1,352,141	1,352,141
Preferred Stock, Distributions Per Share	$ 0.492188
8.25% Series D Cumulative Redeemable Perpetual Preferred Stock [Member]
Class Of Stock [Line Items]
Preferred Stock, Per Annum Rate	8.25%	8.25%
Preferred Stock, Liquidation Preference	$ 25	$ 25
Preferred Stock, Number of Shares Issued	1,200,000	0	1,200,000
Preferred Stock, Number of Shares Outstanding	1,200,000	0
Preferred Stock, Distributions Per Share	$ 0.515625

Preferred Stock and Units - S_2

Preferred Stock and Units - Schedule of Series of Cumulative Redeemable Perpetual Preferred Stock (Parenthetical) (Detail) - 8.25% Series D Cumulative Redeemable Perpetual Preferred Stock [Member] - $ / shares	Jul. 15, 2019	Jun. 30, 2019
Class Of Stock [Line Items]
Preferred Stock, Distributions Per Share		$ 0.515625
Subsequent Event [Member]
Class Of Stock [Line Items]
Preferred Stock, Distributions Per Share	$ 0.41823

Preferred Stock and Units - S_3

Preferred Stock and Units - Schedule of Series of Cumulative Redeemable Perpetual Preferred Units (Detail) - Sotherly Hotels LP [Member] - $ / shares	1 Months Ended		2 Months Ended	6 Months Ended	12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	May 31, 2019	Jun. 30, 2019	Dec. 31, 2018
8% Series B Cumulative Redeemable Perpetual Preferred Units [Member]
Preferred Units [Line Items]
Preferred Units, Per Annum Rate				8.00%	8.00%
Preferred Units, Liquidation Preference	$ 25			$ 25	$ 25
Preferred Units, Number of Units Issued	1,610,000			1,610,000	1,610,000
Preferred Units, Number of Units Outstanding	1,610,000			1,610,000	1,610,000
Preferred Units, Distributions Per Unit				$ 0.500000
7.875% Series C Cumulative Redeemable Perpetual Preferred Units [Member]
Preferred Units [Line Items]
Preferred Units, Per Annum Rate	7.875%	7.875%		7.875%	7.875%
Preferred Units, Liquidation Preference	$ 25			$ 25	$ 25
Preferred Units, Number of Units Issued	1,352,141			1,352,141	1,352,141
Preferred Units, Number of Units Outstanding	1,352,141			1,352,141	1,352,141
Preferred Units, Distributions Per Unit				$ 0.492188
8.25% Series D Cumulative Redeemable Perpetual Preferred Units [Member]
Preferred Units [Line Items]
Preferred Units, Per Annum Rate			8.25%	8.25%	8.25%
Preferred Units, Liquidation Preference	$ 25			$ 25	$ 25
Preferred Units, Number of Units Issued	0			1,200,000	0
Preferred Units, Number of Units Outstanding	0			1,200,000	0
Preferred Units, Distributions Per Unit				$ 0.515625

Preferred Stock and Units - S_4

Preferred Stock and Units - Schedule of Series of Cumulative Redeemable Perpetual Preferred Units (Parenthetical) (Detail)	Jul. 15, 2019$ / shares
Subsequent Event [Member] | 8.25% Series D Cumulative Redeemable Perpetual Preferred Units [Member]
Preferred Units [Line Items]
Preferred Units, Distributions Per Unit	$ 0.41823

Common Stock and Units - Additi

Common Stock and Units - Additional Information (Detail)	Feb. 22, 2019shares	Feb. 11, 2019shares	Feb. 05, 2018shares	Jan. 01, 2018shares	Dec. 02, 2016USD ($)$ / shares	Feb. 28, 2017USD ($)shares	Mar. 31, 2019shares	Mar. 31, 2018shares	Dec. 31, 2018USD ($)$ / sharesshares	Jun. 30, 2019USD ($)$ / sharesshares	Jun. 30, 2019USD ($)$ / sharesshares	Dec. 31, 2018USD ($)$ / sharesshares	Dec. 31, 2017USD ($)shares	Jun. 30, 2019USD ($)$ / sharesshares	Aug. 31, 2018USD ($)$ / shares
Class of Stock [Line Items]
Common stock, shares authorized									49,000,000	49,000,000	49,000,000	49,000,000		49,000,000
Common stock, par value | $ / shares					$ 0.01				$ 0.01	$ 0.01	$ 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 | $												$ 5,900,000
Number of common stock shares repurchased										0		882,820
Number of common stock, shares purchased						682,500				0		0	682,500
Purchased common stock, value | $						$ 4,900,000							$ 4,900,000
Common stock, shares outstanding									14,209,378	14,222,378	14,222,378	14,209,378		14,222,378
Common stock exchange ratio										1	1			1
Redemption of units in operating partnership														0
Operating Partnership common units not owned									1,778,140	1,778,140	1,778,140	1,778,140		1,778,140
Sales Agency Agreement [Member] | Sandler O’Neill [Member]
Class of Stock [Line Items]
Common stock, par value | $ / shares															$ 0.01
Proceeds from sale of common stock, net | $									$ 600,000
Common Stock [Member]
Class of Stock [Line Items]
Restricted shares issued							13,000	40,000
Common Stock [Member] | 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
Stock issued during period									88,297	0	88,297
Sotherly Hotels LP [Member]
Class of Stock [Line Items]
Operating Partnership common units outstanding									15,987,518	16,000,518	16,000,518	15,987,518		16,000,518
Fair market value | $									$ 10,000,000	$ 12,400,000	$ 12,400,000	$ 10,000,000		$ 12,400,000
Sotherly Hotels LP [Member] | Common Stock [Member]
Class of Stock [Line Items]
Number of issued unit in Operating Partnership	250	12,750	17,250	25,000
Restricted shares issued			15,000	25,000
Non-restricted shares issued			2,250
Maximum [Member]
Class of Stock [Line Items]
Repurchased common stock, value | $					$ 10,000,000

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Related Party Transaction [Line Items]
Accounts receivable - affiliate	$ 95,392		$ 95,392		$ 262,572
ESOP [Member]
Related Party Transaction [Line Items]
Loan receivable outstanding	$ 4,300,000		$ 4,300,000		4,400,000
Andrew M. Sims [Member] | Chesapeake Hospitality [Member]
Related Party Transaction [Line Items]
Percentage of total outstanding ownership interests	19.3375%		19.3375%
Kim E. Sims [Member] | Chesapeake Hospitality [Member]
Related Party Transaction [Line Items]
Percentage of total outstanding ownership interests	20.00%		20.00%
Christopher L. Sims [Member] | Chesapeake Hospitality [Member]
Related Party Transaction [Line Items]
Percentage of total outstanding ownership interests	20.00%		20.00%
Chesapeake Hospitality [Member]
Related Party Transaction [Line Items]
Accounts receivable - affiliate	$ 98,975		$ 98,975		$ 91,987
Agreement term			5 years
Incentive management fee equal to increase in gross operating profit percentage	10.00%		10.00%
Maximum incentive management fee of gross revenues	0.25%		0.25%
Base management and administrative fees earned by related party	$ 1,326,399	$ 1,119,177	$ 2,572,100	$ 2,216,899
Incentive management fees earned by related party	15,098	64,009	164,428	86,406
Employee medical benefits paid	1,395,019	1,407,782	2,862,304	2,911,607
Workers' compensation insurance premium paid	$ 200,000	0	500,000	100,000
Chesapeake Hospitality [Member] | Crowne Plaza Hampton Marina [Member]
Related Party Transaction [Line Items]
Termination fee			$ 0
Chesapeake Hospitality [Member] | Fiscal Year 2017 [Member]
Related Party Transaction [Line Items]
Percentage of management fee due	2.65%		2.65%
Chesapeake Hospitality [Member] | Fiscal Year 2017 and Thereafter [Member]
Related Party Transaction [Line Items]
Percentage of management fee due	2.50%		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%		2.00%
Management fee of gross revenues for second full fiscal year	2.25%		2.25%
Management fee of gross revenues for every year thereafter	2.50%		2.50%
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%		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%		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%		2.50%
Immediate Family Members of Chief Executive Officer [Member]
Related Party Transaction [Line Items]
Total compensation for related parties	$ 102,679	96,035	$ 206,290	194,577
Partnership controlled by Chief Executive Officer [Member]
Related Party Transaction [Line Items]
Business-related air travel expense reimbursed to partnership	$ 53,560	$ 36,304	$ 87,258	$ 60,356

Retirement Plans - Additional I

Retirement Plans - Additional Information (Detail) - USD ($)	2 Months Ended	3 Months Ended		6 Months Ended		12 Months Ended
	Feb. 28, 2017	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 29, 2016
Defined Benefit Plan Disclosure [Line Items]
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		$ 22,700	$ 22,141	$ 50,561	$ 49,039
Maximum amount allocated to purchase common stock under ESOP								$ 5,000,000
Number of common stock, shares purchased	682,500			0		0	682,500
Purchased common stock, value	$ 4,900,000						$ 4,900,000
Total number of ESOP shares				85,110	50,891
Fair value of ESOP released from suspense account and recognized compensation cost				$ 592,364	$ 348,173
Number of non committed, unearned ESOP shares		594,378		594,378		613,194
Fair value of unallocated ESOP shares		$ 4,136,872		$ 4,136,872		$ 3,440,020
Number of ESOP shares allocated		66,308		66,308		33,832
Number of ESOP shares committed to be released		18,802		18,802		35,474
ESOP [Member]
Defined Benefit Plan Disclosure [Line Items]
Number of common stock, shares purchased				682,500
Purchased common stock, value				$ 4,900,000

Retirement Plans - Summary of S

Retirement Plans - Summary of Shares Allocations are Accounted For Fair Value on The Date of Allocations (Detail) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Compensation And Retirement Disclosure [Abstract]
Number of ESOP shares allocated	66,308	33,832
Number of ESOP shares committed to be released	18,802	35,474
Total number of ESOP allocated and committed-to-be-released	85,110	69,306
Number of non committed, unearned ESOP shares	594,378	613,194
Total number of ESOP shares	679,488	682,500
Fair value of ESOP allocated shares	$ 461,504	$ 189,798
Fair value of ESOP Committed-to-be released shares	130,860	199,007
Total fair value of ESOP allocated and committed-to-be-released	592,364	388,805
Fair value of ESOP unallocated shares	4,136,872	3,440,020
Total fair value of ESOP shares	$ 4,729,236	$ 3,828,825

Indirect Hotel Operating Expe_3

Indirect Hotel Operating Expenses - Summary of Indirect Hotel Operating Expenses (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	$ 18,173,700	$ 17,640,285	$ 35,563,380	$ 32,873,541
Sales and Marketing [Member]
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	4,450,705	4,303,516	8,684,028	8,030,938
General and Administrative [Member]
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	3,999,951	3,897,618	7,812,424	7,340,076
Repairs and Maintenance [Member]
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	1,962,867	1,967,457	3,983,460	3,768,599
Utilities [Member]
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	1,503,863	1,583,655	3,010,526	2,985,633
Property Taxes [Member]
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	1,731,001	1,625,503	3,461,466	3,162,877
Management Fees, Including Incentive [Member]
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	1,341,497	1,388,995	2,739,187	2,504,854
Franchise Fees [Member]
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	1,373,004	1,261,787	2,501,755	2,185,311
Insurance [Member]
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	922,868	733,507	1,673,810	1,368,176
Information and Telecommunications [Member]
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	619,837	420,460	1,242,915	802,065
Other [Member]
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	$ 268,107	$ 457,787	$ 453,809	$ 725,012

Income Taxes - Components of In

Income Taxes - Components of Income Tax Provision (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Current:
Federal	$ (92,333)		$ (92,333)
State	37,424	$ 61,347	70,902	$ 107,040
Total	(54,909)	61,347	(21,431)	107,040
Deferred:
Federal	726,912	997,600	926,518	1,204,619
State	143,353	264,067	228,426	317,310
Total	870,265	1,261,667	1,154,944	1,521,929
Income tax provision	$ 815,356	$ 1,323,014	$ 1,133,513	$ 1,628,969

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Statutory Federal Income Tax Provision (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Statutory federal income tax provision	$ 412,581	$ 901,026	$ 397,451	$ 1,212,339
Effect of non-taxable REIT loss	221,998	96,574	436,734	(7,720)
State income tax provision	180,777	325,414	299,328	424,350
Income tax provision	$ 815,356	$ 1,323,014	$ 1,133,513	$ 1,628,969

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Income Taxes [Line Items]
Deferred tax asset	$ 3,976,235	$ 5,131,179
Accumulated net operating losses	$ 3,400,000	4,400,000
Loss carryforwards, expired	2028
Deferred tax asset nondeductible accrued expenses	$ 600,000	700,000
TRS Lessee [Member]
Income Taxes [Line Items]
Accumulated net operating losses	$ 3,400,000	$ 4,400,000

Income (Loss) Per Share and P_3

Income (Loss) Per Share and Per Unit - Additional Information (Detail) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Earnings Per Share [Line Items]
Number of ESOP units	14,222,378	14,138,878	14,219,418	14,140,205
ESOP [Member]
Earnings Per Share [Line Items]
Number of ESOP units			0

Income (Loss) Per Share and P_4

Income (Loss) Per Share and Per Unit - Computation of Basic and Diluted Net Income Per Share (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Numerator
Net (loss) income available to common stockholders for basic and diluted computation	$ (731,711)	$ 1,352,414	$ (2,385,473)	$ 1,114,071
Denominator
Weighted average number of common shares outstanding	14,222,378	14,137,929	14,219,418	14,134,594
Weighted average number of Unearned ESOP Shares	(595,943)	(649,403)	(600,730)	(654,065)
Total weighted average number of common shares outstanding for basic computation	13,626,435	13,488,526	13,618,688	13,480,529
Basic net (loss) income per share	$ (0.05)	$ 0.10	$ (0.18)	$ 0.08
Weighted average number of common shares outstanding	14,222,378	14,138,878	14,219,418	14,140,205
Weighted average number of Unearned ESOP Shares	(595,943)	(649,403)	(600,730)	(654,065)
Total weighted average number of common shares outstanding for diluted computation	13,626,435	13,489,475	13,618,688	13,486,140
Diluted net (loss) income per share	$ (0.05)	$ 0.10	$ (0.18)	$ 0.08

Income (Loss) Per Share and P_5

Income (Loss) Per Share and Per Unit - Computation of Basic and Diluted Net Income Per Unit (Detail) - Sotherly Hotels LP [Member] - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Schedule Of Computation Of Basic And Diluted Earnings Per Common Share [Line Items]
Net (loss) income available to unitholders for basic computation	$ (823,067)	$ 1,522,745	$ (2,683,778)	$ 1,254,389
Weighted average number of units outstanding	16,000,518	15,899,221	15,997,558	15,895,885
Basic and diluted net (loss) income per unit	$ (0.05)	$ 0.10	$ (0.17)	$ 0.08

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - $ / shares	Jul. 29, 2019	Jul. 15, 2019	Jul. 11, 2019	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018
Subsequent Event [Line Items]
Dividend distributed				$ 0.13	$ 0.125	$ 0.12	$ 0.115
Subsequent Event [Member]
Subsequent Event [Line Items]
Dividend paid			$ 0.13
Dividend record date	Sep. 13, 2019		Jun. 14, 2019
Dividend distributed	$ 0.13
Dividend payment date	Oct. 11, 2019
Subsequent Event [Member] | 7.875% Series C Cumulative Redeemable Perpetual Preferred Stock [Member]
Subsequent Event [Line Items]
Dividend record date	Oct. 1, 2019	Jul. 1, 2019
Dividend paid		$ 0.492188
Dividend payment date	Oct. 15, 2019
Preferred stock dividends declared	$ 0.4921875
Subsequent Event [Member] | 8.25% Series D Cumulative Redeemable Perpetual Preferred Stock [Member]
Subsequent Event [Line Items]
Dividend record date	Oct. 1, 2019	Jul. 1, 2019
Dividend paid		$ 0.41823
Dividend payment date	Oct. 15, 2019
Preferred stock dividends declared	$ 0.515625
Subsequent Event [Member] | 8% Series B Cumulative Redeemable Perpetual Preferred Stock [Member]
Subsequent Event [Line Items]
Dividend record date	Oct. 1, 2019	Jul. 1, 2019
Dividend paid		$ 0.50
Dividend payment date	Oct. 15, 2019
Preferred stock dividends declared	$ 0.50