Sotherly Hotels (SOHO) 10-K 16 Mar 20 2019 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2019	Mar. 10, 2020	Jun. 30, 2019
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Document Annual Report	true
Document Transition Report	false
Entity Registrant Name	SOTHERLY HOTELS INC.
Entity Central Index Key	0001301236
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Shell Company	false
Entity Incorporation, State or Country Code	MD
Entity File Number	001-32379
Entity Tax Identification Number	20-1531029
Entity Address, Address Line One	306 South Henry Street
Entity Address, Address Line Two	Suite 100
Entity Address, City or Town	Williamsburg
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	23185
City Area Code	757
Local Phone Number	229-5648
Entity Common Stock, Shares Outstanding		14,823,580
Entity Public Float			$ 81,610,719
Documents Incorporated by Reference	Part III of this Form 10-K incorporates by reference certain portions of Sotherly Hotels Inc.’s proxy statement for its 2020 annual meeting of stockholders to be filed with the Securities and Exchange Commission not later than 120 days after the end of the fiscal year covered by this report.
Common Stock [Member]
Document Information [Line Items]
Title of each class	Common Stock, $0.01 par value
Trading Symbol	SOHO
Name of each exchange on which registered	NASDAQ
8.0% Series B Cumulative Redeemable Perpetual Preferred Stock [Member]
Document Information [Line Items]
Title of each class	8.0% Series B Cumulative Redeemable Perpetual Preferred Stock, $0.01 par value
Trading Symbol	SOHOB
Name of each exchange on which registered	NASDAQ
7.875% Series C Cumulative Redeemable Perpetual Preferred Stock [Member]
Document Information [Line Items]
Title of each class	7.875% Series C Cumulative Redeemable Perpetual Preferred Stock, $0.01 par value
Trading Symbol	SOHOO
Name of each exchange on which registered	NASDAQ
8.25% Series D Cumulative Redeemable Perpetual Preferred Stock [Member]
Document Information [Line Items]
Title of each class	8.25% Series D Cumulative Redeemable Perpetual Preferred Stock, $0.01 par value
Trading Symbol	SOHON
Name of each exchange on which registered	NASDAQ
Sotherly Hotels LP [Member]
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Document Annual Report	true
Document Transition Report	false
Entity Registrant Name	SOTHERLY HOTELS LP
Entity Central Index Key	0001301236
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity Incorporation, State or Country Code	DE
Entity File Number	001-36091
Entity Tax Identification Number	20-1965427
Entity Address, Address Line One	306 South Henry Street
Entity Address, Address Line Two	Suite 100
Entity Address, City or Town	Williamsburg
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	23185
City Area Code	757
Local Phone Number	229-5648

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2019	Dec. 31, 2018
ASSETS
Investment in hotel properties, net	$ 443,267,448	$ 435,725,814
Cash and cash equivalents	23,738,066	33,792,773
Restricted cash	4,246,170	4,075,508
Accounts receivable, net	4,812,479	6,766,696
Accounts receivable - affiliate	101,771	262,572
Prepaid expenses, inventory and other assets	5,648,772	5,262,884
Favorable lease assets, net		2,465,421
Deferred income taxes	5,412,084	5,131,179
TOTAL ASSETS	487,226,790	493,482,847
LIABILITIES
Mortgage loans, net	358,633,884	364,828,845
Unsecured notes, net		23,894,658
Accounts payable and accrued liabilities	20,189,903	16,268,096
Advance deposits	2,785,338	2,815,283
Dividends and distributions payable	4,210,494	3,409,593
TOTAL LIABILITIES	385,819,619	411,216,475
Commitments and contingencies (See Note 6)
Sotherly Hotels Inc. stockholders’ equity
Common stock, par value $0.01, 69,000,000 shares authorized, 14,272,378 shares and 14,209,378 shares issued and outstanding at December 31, 2019 and 2018, respectively.	142,723	142,093
Additional paid-in capital	180,515,861	147,085,112
Unearned ESOP shares	(4,105,637)	(4,379,742)
Distributions in excess of retained earnings	(73,990,690)	(61,052,418)
Total Sotherly Hotels Inc. stockholders’ equity	102,605,903	81,824,666
Noncontrolling interest	(1,198,732)	441,706
TOTAL EQUITY	101,407,171	82,266,372
TOTAL LIABILITIES AND EQUITY	487,226,790	493,482,847
Sotherly Hotels LP [Member]
ASSETS
Investment in hotel properties, net	443,267,448	435,725,814
Cash and cash equivalents	23,738,066	33,792,773
Restricted cash	4,246,170	4,075,508
Accounts receivable, net	4,812,479	6,766,696
Accounts receivable - affiliate	101,771	262,572
Loan receivable - affiliate	4,209,630	4,446,410
Prepaid expenses, inventory and other assets	5,648,772	5,262,884
Favorable lease assets, net		2,465,421
Deferred income taxes	5,412,084	5,131,179
TOTAL ASSETS	491,436,420	497,929,257
LIABILITIES
Mortgage loans, net	358,633,884	364,828,845
Unsecured notes, net		23,894,658
Accounts payable and accrued liabilities	20,189,903	16,268,100
Advance deposits	2,785,338	2,815,283
Dividends and distributions payable	4,268,978	3,466,136
TOTAL LIABILITIES	385,878,103	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 December 31, 2019 and 2018, respectively.	315,959	452,165
Limited Partners: 15,840,512 units and 15,827,642 units issued and outstanding as of December 31, 2019 and 2018, respectively.	2,636,363	16,943,816
TOTAL PARTNERS' CAPITAL	105,558,317	86,656,235
Sotherly Hotels Inc. stockholders’ equity
TOTAL LIABILITIES AND EQUITY	491,436,420	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;	36,461,955	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;	28,377,509
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:	15,546	$ 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	12 Months Ended
	Dec. 31, 2018	Dec. 31, 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	69,000,000	69,000,000	69,000,000
Common stock, shares issued	14,209,378	14,272,378	14,209,378
Common stock, shares outstanding	14,209,378	14,272,378	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	15,790,512	15,827,642
Limited Partner, units outstanding	15,827,642	15,790,512	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	1,554,610	1,352,141
Preferred units, outstanding	1,352,141	1,554,610	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	1,554,610	1,352,141
Preferred stock, shares outstanding	1,352,141	1,554,610	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 ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
REVENUE
Total revenue	$ 185,788,133	$ 178,173,121	$ 154,266,693
Hotel operating expenses
Total hotel operating expenses	138,850,209	130,489,456	113,277,368
Depreciation and amortization	21,637,316	20,884,643	16,999,619
Loss on disposal of assets	123,739	511,749	1,489,892
Corporate general and administrative	6,830,354	6,180,962	6,335,926
Total operating expenses	167,441,618	158,066,810	138,102,805
NET OPERATING INCOME	18,346,515	20,106,311	16,163,888
Other income (expense)
Interest expense	(19,768,193)	(19,953,746)	(15,727,628)
Interest income	444,459	352,951	218,656
Loss on early extinguishment of debt	(1,152,356)	(753,133)	(1,178,348)
Unrealized loss on hedging activities	(1,177,871)	(808,958)	(28,384)
Gain on sale of assets			76,233
Gain on exercise of development right	3,940,000
Gain on involuntary conversion of assets	293,534	917,767	2,242,876
Net income (loss) before income taxes	926,088	(138,808)	1,767,293
Income tax benefit (provision)	249,480	(469,349)	(1,737,804)
Net income (loss)	1,175,568	(608,157)	29,489
Less: Net loss attributable to noncontrolling interest	733,876	718,093	413,014
Net income attributable to the Company	1,909,444	109,936	442,503
Distributions to preferred stockholders	(7,820,695)	(5,829,914)	(3,781,639)
Net loss available to common stockholders	$ (5,911,251)	$ (5,719,978)	$ (3,339,136)
Net loss per share available to common stockholders/general and limited partner unit
Basic	$ (0.43)	$ (0.42)	$ (0.24)
Weighted average number of common shares/general and limited partner units outstanding
Basic	13,642,573	13,517,488	13,829,100
Sotherly Hotels LP [Member]
REVENUE
Total revenue	$ 185,788,133	$ 178,173,121	$ 154,266,693
Hotel operating expenses
Total hotel operating expenses	138,850,209	130,489,456	113,277,368
Depreciation and amortization	21,637,316	20,884,643	16,999,619
Loss on disposal of assets	123,739	511,749	1,489,892
Corporate general and administrative	6,830,354	6,180,962	6,335,926
Total operating expenses	167,441,618	158,066,810	138,102,805
NET OPERATING INCOME	18,346,515	20,106,311	16,163,888
Other income (expense)
Interest expense	(19,768,193)	(19,953,746)	(15,727,628)
Interest income	444,459	352,951	218,656
Loss on early extinguishment of debt	(1,152,356)	(753,133)	(1,178,348)
Unrealized loss on hedging activities	(1,177,871)	(808,958)	(28,384)
Gain on sale of assets			76,233
Gain on exercise of development right	3,940,000
Gain on involuntary conversion of assets	293,534	917,767	2,242,876
Net income (loss) before income taxes	926,088	(138,808)	1,767,293
Income tax benefit (provision)	249,480	(469,349)	(1,737,804)
Net income (loss)	1,175,568	(608,157)	29,489
Distributions To Preferred Unit Holders	(7,820,695)	(5,829,914)	(3,781,639)
Net loss available to general and limited partnership unit holders	$ (6,645,127)	$ (6,438,071)	$ (3,752,150)
Net loss per share available to common stockholders/general and limited partner unit
Basic	$ (0.42)	$ (0.40)	$ (0.23)
Weighted average number of common shares/general and limited partner units outstanding
Basic	16,011,653	15,923,978	16,224,005
Rooms Department [Member]
REVENUE
Total revenue	$ 128,062,932	$ 120,993,460	$ 105,727,372
Hotel operating expenses
Total hotel operating expenses	32,142,171	30,334,309	26,673,727
Rooms Department [Member] | Sotherly Hotels LP [Member]
REVENUE
Total revenue	128,062,932	120,993,460	105,727,372
Hotel operating expenses
Total hotel operating expenses	32,142,171	30,334,309	26,673,727
Food and Beverage Department [Member]
REVENUE
Total revenue	40,267,240	38,134,813	34,513,695
Hotel operating expenses
Total hotel operating expenses	29,355,080	28,090,145	24,585,923
Food and Beverage Department [Member] | Sotherly Hotels LP [Member]
REVENUE
Total revenue	40,267,240	38,134,813	34,513,695
Hotel operating expenses
Total hotel operating expenses	29,355,080	28,090,145	24,585,923
Other Operating Departments [Member]
REVENUE
Total revenue	17,457,961	19,044,848	14,025,626
Hotel operating expenses
Total hotel operating expenses	6,957,325	6,419,502	4,405,515
Other Operating Departments [Member] | Sotherly Hotels LP [Member]
REVENUE
Total revenue	17,457,961	19,044,848	14,025,626
Hotel operating expenses
Total hotel operating expenses	6,957,325	6,419,502	4,405,515
Indirect [Member]
Hotel operating expenses
Total hotel operating expenses	70,395,633	65,645,500	57,612,203
Indirect [Member] | Sotherly Hotels LP [Member]
Hotel operating expenses
Total hotel operating expenses	$ 70,395,633	$ 65,645,500	$ 57,612,203

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - USD ($)	Total	Series C Preferred Stock [Member]	Preferred Stock [Member]	Preferred Stock [Member]Series C Preferred Stock [Member]	Common Stock [Member]	Additional Paid-In Capital [Member]	Additional Paid-In Capital [Member]Series C Preferred Stock [Member]	Unearned ESOP Shares [Member]	Distributions in Excess of Retained Earnings [Member]	Noncontrolling Interest [Member]
Balances, beginning at Dec. 31, 2016	$ 81,339,288		$ 16,100		$ 144,685	$ 118,395,082			$ (39,545,754)	$ 2,329,175
Balances, shares, beginning at Dec. 31, 2016			1,610,000		14,468,551
Net income (loss)	29,489								442,503	(413,014)
Issuance of preferred stock		$ 30,488,660		$ 13,000			$ 30,475,660
Issuance of preferred stock, shares				1,300,000
Issuance of restricted common stock awards	89,160				$ 120	89,040
Issuance of restricted common stock awards, shares					12,000
Repurchase of common stock	(2,731,041)				$ (4,017)	(2,727,024)
Repurchase of common stock, shares					(401,720)
Purchase of shares by ESOP	$ (4,874,758)							$ (4,874,758)
Purchase of shares by ESOP, shares	(682,500)
Amortization of ESOP shares	$ 238,307					(3,339)		241,646
Amortization of restricted stock award	19,920					19,920
Preferred stock dividends declared	(3,781,639)								(3,781,639)
Common stockholders' dividends and distributions declared	(6,642,356)								(5,880,970)	(761,386)
Balances, ending at Dec. 31, 2017	94,175,030		$ 29,100		$ 140,788	146,249,339		(4,633,112)	(48,765,860)	1,154,775
Balances, shares, ending at Dec. 31, 2017			2,910,000		14,078,831
Net income (loss)	(608,157)								109,936	(718,093)
Issuance of unrestricted common stock awards	13,478				$ 23	13,455
Issuance of unrestricted common stock awards, shares					2,250
Issuance of preferred stock		$ 1,005,063		$ 521			$ 1,004,542
Issuance of preferred stock, shares				52,141
Issuance of restricted common stock awards	$ 89,850				$ 400	89,450
Issuance of restricted common stock awards, shares					40,000
Purchase of shares by ESOP, shares	0
Issuance of common stock	$ 574,174				$ 882	573,292
Issuance of common stock, shares					88,297
Amortization of ESOP shares	243,725					(9,645)		253,370
Amortization of restricted stock award	32,100					32,100
Adjustment to Minority Interest in Operating Partnership						(867,421)				867,421
Preferred stock dividends declared	(5,829,914)								(5,829,914)
Common stockholders' dividends and distributions declared	(7,428,977)								(6,566,580)	(862,397)
Balances, ending at Dec. 31, 2018	82,266,372		$ 29,621		$ 142,093	147,085,112		(4,379,742)	(61,052,418)	441,706
Balances, shares, ending at Dec. 31, 2018			2,962,141		14,209,378
Net income (loss)	1,175,568								1,909,444	(733,876)
Issuance of preferred stock	33,066,665		$ 14,025			33,052,640
Issuance of preferred stock, shares			1,402,469
Issuance of restricted common stock awards	92,333				$ 130	92,203
Issuance of restricted common stock awards, shares					13,000
Repurchase of common stock	$ (5,900,000)
Repurchase of common stock, shares	(882,820)
Purchase of shares by ESOP, shares	0
Conversion of units in Operating Partnership to shares of common stock	$ 265,574				$ 500	266,783				(1,709)
Conversion of units in Operating Partnership to shares of common stock, shares					50,000
Amortization of ESOP shares	261,128					(12,977)		274,105
Amortization of restricted stock award	32,100					32,100
Preferred stock dividends declared	(7,820,695)								(7,820,695)
Common stockholders' dividends and distributions declared	(7,931,874)								(7,027,021)	(904,853)
Balances, ending at Dec. 31, 2019	$ 101,407,171		$ 43,646		$ 142,723	$ 180,515,861		$ (4,105,637)	$ (73,990,690)	$ (1,198,732)
Balances, shares, ending at Dec. 31, 2019			4,364,610		14,272,378

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash flows from operating activities:
Net income (loss)	$ 1,175,568	$ (608,157)	$ 29,489
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	21,637,316	20,884,643	16,999,619
Amortization of deferred financing costs	789,525	1,020,396	776,410
Amortization of mortgage premium	(24,681)	(24,681)	(24,681)
Gain on exercise of development right	(3,940,000)
Gain on involuntary conversion of assets	(293,534)	(917,767)	(2,242,876)
Unrealized loss on hedging activities	1,177,871	808,958	28,384
Loss on disposal of assets	123,739	511,749	1,413,659
Loss on early extinguishment of debt	1,152,356	753,133	1,178,348
ESOP and share / unit - based compensation	385,561	379,153	347,387
Changes in assets and liabilities:
Accounts receivable	1,954,217	(885,929)	(1,492,119)
Prepaid expenses, inventory and other assets	(162,621)	1,620,941	(2,780,246)
Deferred income taxes	(280,905)	319,939	1,498,222
Accounts payable and other accrued liabilities	(1,364,458)	1,148,869	1,244,731
Advance deposits	(29,945)	1,020,670	(743,399)
Accounts receivable - affiliate	160,801	131,454	(389,851)
Net cash provided by operating activities	22,460,810	26,163,371	15,843,077
Cash flows from investing activities:
Acquisitions of hotel properties	(6,346,378)	(79,732,716)	(3,986,849)
Improvements and additions to hotel properties	(12,661,169)	(22,104,775)	(23,155,738)
Proceeds from sale of hotel property			5,434,856
Proceeds from involuntary conversion	293,534	917,767	2,275,666
Proceeds from the disposal of assets	4,934	20,677	105,401
Net cash used in investing activities	(18,709,079)	(100,899,047)	(19,326,664)
Cash flows from financing activities:
Proceeds of mortgage debt		175,800,000	40,500,000
Proceeds of unsecured debt		25,000,000
Proceeds from issuance of common stock, net		574,174
Proceeds from issuance of preferred stock, net	33,066,665	1,005,063	30,488,660
Redemption of unsecured notes	(25,000,000)		(25,300,000)
Payments on mortgage loans	(6,633,624)	(107,237,891)	(25,990,271)
Settlement or repurchased of common stock / units			(3,708,891)
Payments of deferred financing costs	(106,950)	(3,816,848)	(837,991)
Funding of ESOP stock purchase			(4,874,758)
Dividends on common stock and distributions paid	(7,859,575)	(6,319,669)	(5,945,401)
Preferred dividends paid	(7,102,292)	(5,829,914)	(3,781,639)
Net cash (used in) provided by financing activities	(13,635,776)	79,174,915	549,709
Net (decrease) increase in cash, cash equivalents and restricted cash	(9,884,045)	4,439,239	(2,933,878)
Cash, cash equivalents and restricted cash at the beginning of the period	37,868,281	33,429,042	36,362,920
Cash, cash equivalents and restricted cash at the end of the period	27,984,236	37,868,281	33,429,042
Supplemental disclosures:
Cash paid during the period for interest	19,262,904	18,325,563	15,253,059
Cash paid (received) during the period for income taxes	(76,104)	173,753	162,677
Non-cash investing and financing activities:
Settlement for repurchase of common stock in accounts payable and accrued liabilities			125,279
Deficiency of fair value of interest rate swap to cost		294,176
Change in amount of improvements to hotel property in accounts payable and accrued liabilities	347,269	222,989	151,499
Initial recognition of non-cash operating lease right of use assets	4,414,962
Initial recognition of non-cash operating lease obligations	4,414,962
Change in amount of non-controlling interest and additional paid-in-capital		867,421
Sotherly Hotels LP [Member]
Cash flows from operating activities:
Net income (loss)	1,175,568	(608,157)	29,489
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	21,637,316	20,884,643	16,999,619
Amortization of deferred financing costs	789,525	1,020,396	776,410
Amortization of mortgage premium	(24,681)	(24,681)	(24,681)
Gain on exercise of development right	(3,940,000)
Gain on involuntary conversion of assets	(293,534)	(917,767)	(2,242,876)
Unrealized loss on hedging activities	1,177,871	808,958	28,384
Loss on disposal of assets	123,739	511,749	1,413,659
Loss on early extinguishment of debt	1,152,356	753,133	1,178,348
ESOP and share / unit - based compensation	451,028	462,193	309,574
Changes in assets and liabilities:
Accounts receivable	1,954,217	(885,929)	(1,492,119)
Prepaid expenses, inventory and other assets	(162,621)	1,620,941	(2,780,246)
Deferred income taxes	(280,905)	319,939	1,498,222
Accounts payable and other accrued liabilities	(1,364,458)	1,148,869	1,244,731
Advance deposits	(29,945)	1,020,670	(743,399)
Accounts receivable - affiliate	160,801	131,454	(389,851)
Net cash provided by operating activities	22,526,277	26,246,411	15,805,264
Cash flows from investing activities:
Acquisitions of hotel properties	(6,346,378)	(79,732,716)	(3,986,849)
Improvements and additions to hotel properties	(12,661,169)	(22,104,775)	(23,155,738)
Proceeds from sale of hotel property			5,434,856
ESOP loan advances			(4,874,758)
ESOP loan payments received	236,780	204,559	223,789
Proceeds from involuntary conversion	293,534	917,767	2,275,666
Proceeds from the disposal of assets	4,934	20,677	105,401
Net cash used in investing activities	(18,472,299)	(100,694,488)	(23,977,633)
Cash flows from financing activities:
Proceeds of mortgage debt		175,800,000	40,500,000
Proceeds of unsecured debt		25,000,000
Proceeds from issuance of general and limited partnership units, net		574,174
Proceeds from issuance of preferred partnership units, net	33,066,665	1,005,063	30,488,660
Redemption of unsecured notes	(25,000,000)		(25,300,000)
Payments on mortgage loans	(6,633,624)	(107,237,891)	(25,990,271)
Settlement or repurchased of common stock / units			(3,708,891)
Payments of deferred financing costs	(106,950)	(3,816,848)	(837,991)
Distributions on general and limited partnership interests	(8,161,822)	(6,607,268)	(6,131,377)
Distributions on preferred partnership interests	(7,102,292)	(5,829,914)	(3,781,639)
Net cash (used in) provided by financing activities	(13,938,023)	78,887,316	5,238,491
Net (decrease) increase in cash, cash equivalents and restricted cash	(9,884,045)	4,439,239	(2,933,878)
Cash, cash equivalents and restricted cash at the beginning of the period	37,868,281	33,429,042	36,362,920
Cash, cash equivalents and restricted cash at the end of the period	27,984,236	37,868,281	33,429,042
Supplemental disclosures:
Cash paid during the period for interest	19,259,838	18,318,331	15,253,059
Cash paid (received) during the period for income taxes	(76,104)	173,753	162,677
Non-cash investing and financing activities:
Deficiency of fair value of interest rate swap to cost		294,176
Settlement or repurchase of common units in accounts payable and accrued liabilities			125,279
Change in amount of improvements to hotel property in accounts payable and accrued liabilities	347,269	$ 222,989	$ 151,499
Initial recognition of non-cash operating lease right of use assets	4,414,962
Initial recognition of non-cash operating lease obligations	$ 4,414,962

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Partners' Capital - USD ($)	Total	Sotherly Hotels LP [Member]	Sotherly Hotels LP [Member]General Partner [Member]	Sotherly Hotels LP [Member]Limited Partner [Member]	Sotherly Hotels LP [Member]Preferred Units [Member]	Sotherly Hotels LP [Member]Preferred Units [Member]Series B Preferred Units [Member]	Sotherly Hotels LP [Member]Preferred Units [Member]Series C Preferred Units [Member]	Sotherly Hotels LP [Member]Preferred Units [Member]Series D Preferred Units [Member]
Balances, beginning at Dec. 31, 2016		$ 81,339,288	$ 681,389	$ 42,891,368		$ 37,766,531
Balances, units, beginning at Dec. 31, 2016			162,467	16,084,224	1,610,000
Issuance of common partnership units		89,160	$ 892	$ 88,268
Issuance of common partnership units, number of units			120	11,880
Issuance of preferred partnership units		30,488,660					$ 30,488,660
Issuance of preferred partnership units, number of units					1,300,000
Repurchased common units		(2,731,041)	$ (27,310)	$ (2,703,731)
Repurchased common units, number of units			(4,017)	(397,703)
Amortization of restricted units award	$ 19,920	19,920	$ 199	$ 19,721
Unit based compensation		200,494		200,494
Preferred units distributions declared		(3,781,639)				(3,220,000)	(561,639)
Partnership units distributions declared		(6,873,876)	(68,740)	(6,805,136)
Net income (loss)	29,489	29,489	295	(3,752,445)		3,220,000	561,639
Balances, ending at Dec. 31, 2017		98,780,455	$ 586,725	$ 29,938,539		37,766,531	30,488,660
Balances, units, ending at Dec. 31, 2017			158,570	15,698,401	2,910,000
Issuance of common partnership units		677,502	$ 6,775	$ 670,727
Issuance of common partnership units, number of units			1,306	129,241
Issuance of preferred partnership units		1,005,063					1,005,063
Issuance of preferred partnership units, number of units					52,141
Amortization of restricted units award	32,100	32,100	$ 321	$ 31,779
Unit based compensation		326,766		326,766
Preferred units distributions declared		(5,829,914)				(3,220,000)	(2,609,914)
Partnership units distributions declared		(7,727,580)	(77,276)	(7,650,304)
Net income (loss)	$ (608,157)	(608,157)	(64,380)	(6,373,691)		3,220,000	2,609,914
Balances, ending at Dec. 31, 2018		86,656,235	$ 452,165	$ 16,943,816		37,766,531	31,493,723
Balances, units, ending at Dec. 31, 2018			159,876	15,827,642	2,962,141
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
Redemption of partnership units, number of units	0
Balances, ending at Dec. 31, 2019		105,558,317	$ 315,959	$ 2,636,363		37,766,531	36,461,955	$ 28,377,509
Balances, units, ending at Dec. 31, 2019			160,006	15,790,512	4,364,610
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
Issuance of preferred partnership units		33,066,665		$ (279,077)			4,968,232	28,377,509
Issuance of preferred partnership units, number of units					1,402,469
Amortization of restricted units award	$ 32,100	32,100	$ 321	$ 31,779
Redemption of partnership units, number of units				(50,000)
Unit based compensation		326,595	3,266	$ 323,329
Preferred units distributions declared		(7,820,695)				(3,220,000)	(2,861,320)	(1,739,375)
Partnership units distributions declared		(7,970,484)	(74,265)	(7,896,218)
Net income (loss)	$ 1,175,568	1,175,568	(66,451)	(6,578,676)		3,220,000	2,861,320	1,739,375
Balances, ending at Dec. 31, 2019		$ 105,558,317	$ 315,959	$ 2,636,363		$ 37,766,531	$ 36,461,955	$ 28,377,509
Balances, units, ending at Dec. 31, 2019			160,006	15,790,512	4,364,610

Organization and Description of

Organization and Description of Business	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Organization and Description of Business	1. Organization and Description of Business Sotherly Hotels Inc., formerly MHI Hospitality Corporation, (the “Company”) is a self-managed and self-administered lodging real estate investment trust (“REIT”) that was incorporated in Maryland on August 20, 2004 to own full-service, primarily upscale and upper-upscale hotels located in primary and secondary markets in the mid-Atlantic and southern United States. Currently, the Company is focused on the acquisition, renovation, upbranding and repositioning of upscale to upper-upscale full-service hotels in the southern United States. The Company’s portfolio, as of December 31, 2019, consists of investments in twelve hotel properties, comprising 3,156 rooms and two hotel commercial condominium units and their associated rental programs. All of the Company’s hotels, except for The DeSoto, the Georgian Terrace, The Whitehall, the Hyde Resort & Residences and the Hyde Beach House Resort & Residences, operate under the Hilton, DoubleTree, Hyatt and Sheraton brands. The Company commenced operations on December 21, 2004 when it completed its initial public offering (“IPO”) and thereafter consummated the acquisition of six hotel properties. Substantially all of the Company’s assets are held by, and all of its operations are conducted through, Sotherly Hotels LP, (the “Operating Partnership”). Pursuant to the terms of the Amended and Restated Agreement of Limited Partnership (the “Partnership Agreement”), the Company, as general partner, is not entitled to compensation for its services to the Operating Partnership. The Company, as general partner, conducts substantially all of its operations through the Operating Partnership and the Company’s administrative expenses are the obligations of the Operating Partnership. Additionally, the Company is entitled to reimbursement for any expenditure incurred by it on the Operating Partnership’s behalf. For the Company to qualify as a REIT, it cannot operate hotels. Therefore, the Operating Partnership, which, at December 31, 2019, was approximately 89.2% owned by the Company, and its subsidiaries, lease its hotels to direct and indirect subsidiaries of MHI Hospitality TRS Holding, Inc., MHI Hospitality TRS, LLC and certain of its subsidiaries, (collectively, “MHI TRS Entities”), each of which is a wholly-owned subsidiary of the Operating Partnership. For the years ended December 31, 2019, 2018, and 2017, the MHI TRS Entities engaged eligible independent hotel management companies, 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. Commencing January 1, 2020, the MHI TRS Entities engaged eligible independent hotel management company, Our Town Hospitality, LLC (“Our Town”), to manage ten of our wholly-owned hotels and management of those ten hotels was transitioned from Chesapeake Hospitality to Our Town. MHI Hospitality TRS Holding, Inc. is treated as a taxable REIT subsidiary (“TRS”) for federal income tax purposes. All references in these “Notes to Consolidated Financial Statements” to “we,” “us” and “our” refer to the Company, its Operating Partnership and its subsidiaries and predecessors, collectively, unless the context otherwise requires or where otherwise indicated. Significant transactions occurring during the current and two prior fiscal years include the following: On January 30, 2017, we closed on the purchase of the commercial condominium unit of the Hyde Resort & Residences, a 400-unit condominium hotel located in the Hollywood, Florida market, for an aggregate price of approximately $4.8 million from 4111 South Ocean Drive, LLC. In connection with the closing of the transaction, we entered into a lease agreement for the 400-space parking garage and meeting rooms associated with the condominium hotel, agreements relating to the operation and management of the hotel condominium association and a condominium unit rental program, and a pre-opening services agreement whereby the seller paid us a fee of approximately $0.8 million for certain pre-opening related preparations. On February 7, 2017, we closed on the sale of the Crowne Plaza Hampton Marina to Marina Hotels, LLC for a price of $5.6 million. On June 1, 2017, we entered into an agreement to purchase the commercial unit of the planned Hyde Beach House Resort & Residences, a condominium hotel under development in Hollywood, Florida, for a price of $5.1 million from 4000 South Ocean Property Owner, LLLP. In connection with the agreement, we also entered into a pre-opening services agreement whereby the seller has agreed to pay us approximately $0.8 million in connection with certain pre-opening activities to be undertaken prior to the closing. We have agreed to purchase inventories at closing consistent with the management and operation of the planned hotel and the related condominium association for an additional amount and have further agreed to enter into a lease agreement for the parking garage and poolside cabanas associated with the planned hotel and to enter into a management agreement relating to the operation and management of the planned hotel’s condominium association. We closed on the Hyde Beach House Resort & Residences in September 2019. On June 29, 2017, we entered into a promissory note and other loan documents to secure a $35.5 million mortgage on the DoubleTree by Hilton Jacksonville Riverfront with Wells Fargo Bank, N.A. Pursuant to the loan documents, the loan has a maturity date of July 11, 2024, bears a fixed interest rate of 4.88%, amortizes on a 30-year schedule, and is subject to a prepayment premium following a prepayment lockout period. We used a portion of the proceeds to repay the existing first mortgage on the DoubleTree by Hilton Jacksonville Riverfront, to pay closing costs and for general corporate purposes. On October 11, 2017, the Company closed a sale and issuance of 1,200,000 shares of its newly authorized 7.875% Series C Cumulative Redeemable Perpetual Preferred Stock (the “Series C Preferred Stock”), for net proceeds after all estimated expenses of approximately $28.0 million. On October 17, 2017, the Company closed a sale and issuance of an additional 100,000 shares of its Series C Preferred Stock, for net proceeds of approximately $2.5 million, pursuant to the underwriters’ partial exercise of an option granted by the Company to purchase additional shares. On November 15, 2017, t he Operating Partnership redeemed the entire $25.3 million principal amount of the 7% Notes, at a redemption price equal to 101% of the principal amount of the 7% Notes, plus any accrued and unpaid interest to, but not including, the redemption date. On February 1, 2018, we received proceeds of $5.0 million on the Hotel Ballast Wilmington, Tapestry Collection by Hilton mortgage loan after meeting certain requirements, per the mortgage documents. On February 12, 2018, the Company and the Operating Partnership closed on a sale and issuance by the Operating Partnership of an aggregate $25.0 million of the 7.25% senior unsecured notes due 2021 (the “7.25% Notes”), unconditionally guaranteed by the Company, for net proceeds after all estimated expenses of approximately $23.3 million. The Operating Partnership used the net proceeds from this offering, together with existing cash on hand and $57.0 million of asset-level mortgage indebtedness, to finance the acquisition of the Hyatt Centric Arlington and for working capital. On February 26, 2018, we entered into a First Amendment to Loan Agreement, Amended and Restated Promissory Note, and other related documents with International Bank of Commerce to amend the terms of the mortgage loan on The Whitehall hotel located in Houston, TX. Pursuant to the amended loan documents, payments of principal and interest on a 25-year amortization schedule have begun and the maturity date was extended until February 26, 2023. On March 1, 2018, we acquired the 318-room Hyatt Centric Arlington located in Arlington, Virginia at an aggregate purchase price of approximately $79.7 million, including seller credits (the “Arlington Acquisition”). Concurrently with the closing, we entered into a franchise agreement with an affiliate of Hyatt Hotels Corporation for the hotel to continue operating as the Hyatt Centric Arlington, and a management agreement with Highgate Hotels for the management of the hotel. The management agreement: (i) has an initial term of three years commencing March 1, 2018; (ii) provides for a base management fee equal to 2.50% of gross revenues; and (iii) On March 1, 2018, we entered into a loan agreement, a first and second promissory note (“Note A” and “Note B”, respectively), and On July 2, 2018, we purchased a portion of the parking lot, previously leased, adjacent to the DoubleTree by Hilton Raleigh Brownstone-University for an aggregate purchase price of $3.5 million. On July 27, 2018, we entered into a loan agreement and other documents, including a promissory note, to secure a mortgage on the DoubleTree by Hilton Raleigh Brownstone-University with MetLife Commercial Mortgage Originator, LLC. The mortgage has an initial principal balance of $18.3 million, with an additional $5.2 million available upon the satisfaction of certain conditions. The mortgage has an initial term of 4 years with a 1-year extension and bears a floating rate of interest equal to the 1-month LIBOR rate plus 4.00%. The mortgage requires monthly interest-only payments and, following a 12-month lockout, can be prepaid with a penalty during its second year and without penalty thereafter. We entered into an interest-rate cap agreement to limit our exposure through August 1, 2022 to increases in LIBOR exceeding 3.25% on a notional amount of $23.5 million. We used a portion of the proceeds to repay the existing first mortgage on the DoubleTree by Hilton Raleigh Brownstone-University and to pay closing costs and intend to use the balance of the proceeds for general corporate purposes. On July 31, 2018, we entered into a second amendment to the loan and security agreement; an amended, restated and consolidated mortgage loan note; and other related documents with its existing lender, TD Bank, N.A., to amend the terms of our mortgage loan on the DoubleTree by Hilton Philadelphia Airport. Concurrent with the loan modification, we also entered into a 5-year swap agreement with The Toronto-Dominion Bank. Pursuant to the amended loan documents: (i) the principal balance of the loan was increased from approximately $30.0 million to $42.2 million; (ii) the loan’s maturity date was extended to July 31, 2023; (iii) the loan bears a floating interest rate equal to the 1-month LIBOR rate plus 2.27%; (iv) the loan amortizes on a 30-year schedule with payments of principal and interest beginning immediately; (v) the loan can be prepaid without penalty; and (vi) the loan will no longer be fully guaranteed by the Operating Partnership, but the Operating Partnership has guaranteed certain standard “bad boy” carveouts. Pursuant to the swap agreement: (i) the loan rate has been swapped for a fixed interest rate of 5.237%; notional amounts of the swap approximate the declining balance of the loan; and (iii) we are responsible for any potential termination fees associated with early termination of the swap agreement. We used a portion of the proceeds to repay in full the existing Note B to the mortgage loan on our Hyatt Centric Arlington and to pay closing costs associated with the amendment and will use the balance of the proceeds for general corporate purposes. On August 31, 2018, we entered into a Sales Agency Agreement, with Sandler O’Neill & Partners, L.P. (“Sandler O’Neill”), under which the Company may sell from time to time through Sandler O’Neill, as sales agent, shares of the Company’s common stock, par value $0.01 per share, having an aggregate gross sales price of up to $5.0 million and up to 400,000 shares of the Company’s 7.875% Series C Cumulative Redeemable Preferred Stock, $0.01 par value per share. Through December 31, 2018, the Company sold 88,297 shares of common stock and 52,141 shares of Series C Preferred Stock, for an aggregate total of approximately $1.8 million in gross proceeds before recognition of offering costs. On September 18, 2018, we entered into a loan agreement and other documents, including a promissory note, to secure a mortgage on the Hyatt Centric Arlington with MetLife Real Estate Lending LLC. Pursuant to the loan documents, the mortgage loan has an initial principal balance of $50.0 million; has a term of 10 years; bears a fixed interest rate of 5.25%; amortizes on a 30-year schedule; and following a 5-year lockout, can be prepaid with penalty in years 6-10 and without penalty during the final 4 months of the term. The Company used the proceeds to repay the existing first mortgage on the Hyatt Centric Arlington, to pay closing costs, and for general corporate purposes. 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 Tampa 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 the Operating Partnership. 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. On September 6, 2019, we entered into a master agreement with Newport Hospitality Group, Inc., a Virginia corporation, and Our Town Hospitality LLC, a Virginia limited liability company relating to the management of ten of our hotels. On December 13, 2019, we entered into an amendment to the master agreement, as well as a series of individual hotel management agreements for the management of those ten hotels. On January 1, 2020, ten of our individual hotel management agreements with Chesapeake Hospitality expired and management of those hotels was transitioned to Our Town. Also on December 13, 2019, we entered into a sublease agreement with Our Town pursuant to which Our Town subleases 2,245 square feet of office space from us, and a credit agreement with Our Town pursuant to which the Company has agreed to make a working capital line of credit of up to $850,000 available to Our Town. On September 26, 2019, we closed on the purchase of a commercial condominium unit of the Hyde Beach House Resort & Residences, a newly constructed 342-unit condominium hotel located in Hollywood, Florida, from 4000 South Ocean Property Owner, LLLP. In connection with the closing, we (i) acquired commercial unit 2 of the Hyde Beach House, along with rights to certain limited common elements appurtenant to the commercial unit, for an adjusted purchase price of approximately $5.4 million; (ii) purchased inventories and equipment for additional consideration in the amount of approximately $0.7 million; (iii) entered into a second addendum to the purchase agreement; (iv) entered into a 20-year parking and cabana management agreement for the parking garage and poolside cabanas associated with the Hyde Beach House; (v) entered into a 20-year management agreement relating to the operation and management of the Hyde Beach House condominium association; and (vi) received a pre-opening services fee of $1.0 million. We began operating a condominium unit rental program for residential units in the facility in November 2019. Also, in connection with the closing, our DoubleTree Resort by Hilton Hollywood Beach acquired a commercial condominium unit consisting of a 3,000 square foot ballroom and adjacent pre-function space, as well as 200 dedicated parking spaces within the parking garage adjacent to the hotel.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 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 and the MHI TRS Entities. All significant inter-company balances and transactions have been eliminated. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. The consolidated financial statements of the Operating Partnership presented herein include all of the accounts of Sotherly Hotels LP and the MHI TRS Entities. All significant inter-company balances and transactions have been eliminated. Additionally, all administrative expenses of the Company and those expenditures made by the Company on behalf of the Operating Partnership are reflected as the administrative expenses, expenditures and obligations thereto of the Operating Partnership, pursuant to the terms of the Partnership Agreement. Investment in Hotel Properties – Investments in hotel properties include investments in operating properties which are recorded at fair value on acquisition date and allocated to land, property and equipment and identifiable intangible assets. Replacements and improvements are capitalized, while repairs and maintenance are expensed as incurred. Upon the sale or retirement of a fixed asset, the cost and related accumulated depreciation are removed from our accounts and any resulting gain or loss is included in the statements of operations. Expenditures under a renovation project, which constitute additions or improvements that extend the life of the property, are capitalized. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, generally 7 to 39 years for buildings and building improvements and 3 to 10 years for furniture, fixtures and equipment. Leasehold improvements are amortized over the shorter of the lease term or the useful lives of the related assets. We review our investments in hotel properties for impairment whenever events or changes in circumstances indicate that the carrying value of the hotel properties may not be recoverable. Events or circumstances that may cause a review include, but are not limited to, adverse permanent changes in the demand for lodging at the properties due to declining national or local economic conditions and/or new hotel construction in markets where the hotels are located. When such conditions exist, management performs an analysis to determine if the estimated undiscounted future cash flows from operations and the proceeds from the ultimate disposition of a hotel property exceeds its carrying value. If the estimated undiscounted future cash flows are found to be less than the carrying amount of the asset, an adjustment to reduce the carrying amount to the related hotel property’s estimated fair market value would be recorded and an impairment loss recognized. Assets Held For Sale – The Company records assets as held for sale when management has committed to a plan to sell the assets, actively seeks a buyer for the assets, and the consummation of the sale is considered probable and is expected within one year. Cash and Cash Equivalents – We consider all highly liquid investments with an original maturity of three months or less to be cash equivalents. Concentration of Credit Risk – We hold cash accounts at several institutions in excess of the Federal Deposit Insurance Corporation (the “FDIC”) protection limits of $250,000. Our exposure to credit loss in the event of the failure of these institutions is represented by the difference between the FDIC protection limit and the total amounts on deposit. Management monitors, on a regular basis, the financial condition of the financial institutions along with the balances there on deposit to minimize our potential risk. Restricted Cash – Restricted cash includes real estate tax escrows, insurance escrows and reserves for replacements of furniture, fixtures and equipment pursuant to certain requirements in our various mortgage agreements. Accounts Receivable – Accounts receivable consists primarily of hotel guest, banqueting and credit card receivables. Ongoing evaluations of collectability are performed and an allowance for potential credit losses is provided against the portion of accounts receivable that is estimated to be uncollectible. Inventories – Inventories, consisting primarily of food and beverages, are stated at the lower of cost or net realizable value, with cost determined on a method that approximates first-in, first-out basis. Franchise License Fees – Fees expended to obtain or renew a franchise license are amortized over the life of the license or renewal. The unamortized franchise fees as of December 31, 2019 and 2018 were approximately $413,354 and $471,996, respectively. Amortization expense for the years ended December 31, 2019, 2018, and 2017 was $58,642, $60,073 and $46,209, respectively. Favorable Lease Assets, Net – Favorable lease assets are recorded on non-market contracts assumed as part of the acquisition of certain hotels. We review the terms of agreements assumed in conjunction with the purchase of a hotel to determine if the terms are favorable or unfavorable compared to an estimated market agreement at the acquisition date. Favorable lease assets are recorded at the acquisition date and amortized using straight-line method over the term of the remaining agreement. In conjunction with the adoption of ASU 2016-02, the favorable lease asset has been reclassified as a right-to-use asset on January 1, 2019. As of December 31, 2019, the approximate amount of the favorable lease asset is $2.1 million. Amortization expense for the twelve-month periods ended December 31, 2019, 2018 and 2017 totaled $ 379,295 , $316,080 and $0, respectively. Deferred Financing and Offering Costs – Deferred financing costs are recorded at cost and consist of loan fees and other costs incurred in issuing debt and are reflected in mortgage loans, net and unsecured notes, net on the consolidated balance sheets. Deferred offering costs are recorded at cost and consist of offering fees and other costs incurred in advance of issuing equity and are reflected in prepaid expenses, inventory and other assets on the consolidated balance sheets. Amortization of deferred financing costs is computed using a method that approximates the effective interest method over the term of the related debt and is included in interest expense in the consolidated statements of operations. Our deferred offering costs are applied pro-rata against the minimum anticipated proceeds of an equity offering. If the offering does not generate the minimum anticipated proceeds or is aborted then the excess will be included in corporate general and administrative expenses in the consolidated statements of operations. As of December 31, 2019 and 2018 there were no deferred offering costs included in prepaid expenses, inventory and other assets, respectively. During the twelve months ended December 31, 2017, the Company wrote off approximately $0.5 million of deferred offering costs. Derivative Instruments – Our derivative instruments are reflected as assets or liabilities on the consolidated balance sheet and measured at fair value. Derivative instruments used to hedge the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as an interest rate risk, are considered fair value hedges. Derivative instruments used to hedge exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. For a derivative instrument designated as a cash flow hedge, the change in fair value each period is reported in accumulated other comprehensive income in stockholders’ equity and partners’ capital to the extent the hedge is effective. For a derivative instrument designated as a fair value hedge, the change in fair value each period is reported in earnings along with the change in fair value of the hedged item attributable to the risk being hedged. For a derivative instrument that does not qualify for hedge accounting or is not designated as a hedge, the change in fair value each period is reported in earnings. We use derivative instruments to add stability to interest expense and to manage our exposure to interest-rate movements. To accomplish this objective, we currently use interest rate caps and an interest rate swap which act as cash flow hedges and are not designated as hedges. We value our interest-rate caps and interest rate swap at fair value, which we define as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). We do not enter into contracts to purchase or sell derivative instruments for speculative trading purposes. Fair Value Measurements – We classify the inputs used to measure fair value into the following hierarchy: Level 1 Unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 Unadjusted quoted prices in active markets for similar assets or liabilities, or unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs other than quoted prices that are observable for the asset or liability. Level 3 Unobservable inputs for the asset or liability. We endeavor to utilize the best available information in measuring fair value. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The following table represents our assets and liabilities measured at fair value and the basis for that measurement (our interest rate caps and interest rate swap are the only assets or liabilities measured at fair value on a recurring basis , there is one asset added during September 2019, valued at that time in the amount of $3,940,000 which is non-recurring, Level 1 Level 2 Level 3 December 31, 2018 Interest Rate Caps (1) $ — $ 94,697 $ — Interest Rate Swap (2) $ — $ (984,677 ) $ — Mortgage loans (3) $ — $ (357,279,949 ) $ — Unsecured notes (4) $ (25,390,000 ) $ — $ — December 31, 2019 Interest Rate Cap (1) $ — $ 4,504 $ — Interest Rate Swap (2) $ — $ (2,064,709 ) $ — Mortgage loans (3) $ — $ (363,229,617 ) $ — (1) Interest rate caps, which caps the 1-month LIBOR (2) Interest rate swap, which takes the Loan Rate and swaps it for a fixed interest rate of 5.237%; notional amounts of the swap approximate the declining balance of the loan. (3) Mortgage loans are reflected at carrying value on our Consolidated Balance Sheets as of December 31, 2019 and December 31, 2018. (4) Unsecured notes are recorded at historical cost on our Consolidated Balance Sheet as of December 31, 2018. Noncontrolling Interest in Operating Partnership – Certain hotel properties have been acquired, in part, by the Operating Partnership through the issuance of limited partnership units of the Operating Partnership. The noncontrolling interest in the Operating Partnership is: (i) increased or decreased by the limited partners’ pro-rata share of the Operating Partnership’s net income or net loss, respectively; (ii) decreased by distributions; (iii) decreased by redemption of partnership units for the Company’s common stock; and (iv) adjusted to equal the net equity of the Operating Partnership multiplied by the limited partners’ ownership percentage immediately after each issuance of units of the Operating Partnership and/or the Company’s common stock through an adjustment to additional paid-in capital. Net income or net loss is allocated to the noncontrolling interest in the Operating Partnership based on the weighted average percentage ownership throughout the period. Revenue Recognition – Revenue consists of amounts derived from hotel operations, including the sales of rooms, food and beverage, and other ancillary services. Room revenue is recognized over a customer's hotel stay. Revenue from food and beverage and other ancillary services is generated when a customer chooses to purchase goods or services separately from a hotel room and revenue is recognized on these distinct goods and services at the point in time or over the time period that goods or services are provided to the customer. Certain ancillary services are provided by third parties and the Company assesses whether it is the principal or agent in these arrangements. If the Company is the agent, revenue is recognized based upon the gross 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) shown on our consolidated balance sheets and recognized once the performance obligations are satisfied. Certain of the Company's hotels have retail spaces, restaurants or other spaces which the Company leases to third parties. Lease revenue is recognized on a straight-line basis over the life of the lease and included in other operating revenues in the Company's consolidated statements of operations. The Company collects sales, use, occupancy and similar taxes at its hotels which are presented on a net basis on the consolidated statements of operations. Accounts receivable primarily represents receivables from hotel guests who occupy hotel rooms and utilize hotel services. The Company maintains an allowance for doubtful accounts sufficient to cover estimated potential credit losses. Lease Revenue – Several of our properties generate revenue from leasing commercial space adjacent to the hotel, the restaurant space within the hotel, apartment units and space on the roofs of our hotels for antennas and satellite dishes. We account for the lease income as revenue from other operating departments within the consolidated statement of operations pursuant to the terms of each lease. Lease revenue was $1,456,550, $1,638,408 and $1,780,525, for the years ended December 31, 2019, 2018, and 2017, respectively. A schedule of minimum future lease payments receivable for the following twelve-month periods is as follows: For the twelve months ending December 31, 2020 $ 1,458,366 December 31, 2021 1,433,413 December 31, 2022 1,362,728 December 31, 2023 1,363,899 December 31, 2024 1,370,777 December 31, 2025 and thereafter 8,081,449 Total $ 15,070,632 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. The MHI TRS Entities which leases our hotels from subsidiaries of the Operating Partnership, are subject to federal and state income taxes. We account for income taxes using the asset and liability method under which deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. At December 31, 2019, deferred tax assets total approximately $5.4 million, of which approximately $5.0 million relates to net operating losses of our TRS Lessees. 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 Lessees to subsidiaries of the Operating Partnership. We have determined that it is more-likely-than-not that we will be able to fully utilize our deferred tax assets for future tax consequences, therefore no valuation allowance is required. As of December 31, 2019, we had no uncertain tax positions. Our policy is to recognize interest and penalties related to uncertain tax positions in income tax expense. As of December 31, 2019, the tax years that remain subject to examination by the major tax jurisdictions to which the Company is subject generally include 2016 through 2018. In addition, as of December 31, 2019, the tax years that remain subject to examination by the major tax jurisdictions to which the MHI TRS Entities are subject, because of open NOL carryforwards, generally include 2014 through 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, permits the grant of stock options, restricted stock and performance share compensation awards to its employees and directors for up to 750,000 shares of common stock. The Company believes that stock awards align the interests of its employees with those of its stockholders. As of December 31, 2019, under the 2013 Plan, the Company has made cumulative stock awards totaling 176,350 shares, including 77,600 non-restricted shares to certain executives, directors and employees, and 98,750 restricted shares issued to its independent directors and one employee. All awards have vested except for 15,000 shares issued to one employee, which will vest over the next 3 years. Under the 2013 Plan, the Company may issue a variety of performance-based stock awards, including nonqualified stock options. The value of the awards is charged to compensation expense on a straight-line basis over the vesting or service period based on the value of the award as determined by the Company’s stock price on the date of grant or issuance. As of December 31, 2019, no performance-based stock awards have been granted. Consequently, stock-based compensation as determined under the fair-value method would be the same under the intrinsic-value method. Total stock-based compensation cost recognized under the 2013 Plan for the years ended December 31, 2019, 2018, and 2017 was $124,433, $135,428 and $109,080, respectively. Additionally, the Company sponsors and maintains an ESOP and related trust for the benefit of its eligible employees. We reflect unearned ESOP shares as a reduction of stockholders’ equity. Dividends on unearned ESOP shares, when paid, are considered compensation expense. The Company recognizes compensation expense equal to the fair value of the Company’s ESOP shares during the periods in which they are committed to be released. For the years ended December 31, 2019, 2018, and 2017 the ESOP compensation cost was $274,574, $253,370 and $238,307, respectively. To the extent that the fair value of the Company’s ESOP shares differs from the cost of such shares, the differential is recognized as additional paid in capital. Because the ESOP is internally leveraged through a loan from the Company to the ESOP, the loan receivable by the Company from the ESOP is not reported as an asset nor is the debt of the ESOP shown as a liability in the Company’s consolidated financial statements. Advertising – Advertising costs were $394,176, $432,754 and $357,379 for the years ended December 31, 2019, 2018, and 2017, respectively and are expensed as incurred. Business Interruption Proceeds – Insurance recoveries for business interruption were recognized during the years ended December 31, 2019, 2018 and 2017, for $0, approximately $0.8 million and $0.6 million, respectively. The events that resulted in the recovery for the year ending December 31, 2018, resulted from damage caused by Hurricane Florence at our property in Wilmington, North Carolina. Business interruption recoveries during the year ended December 31, 2017, were caused by an electrical outage at our property in Houston, Texas, by Hurricane Irma at our property in Tampa, Florida and by Hurricane Matthew at our property in Savannah, Georgia. The insurance proceeds were reflected in the statement of operations in other operating departments revenues. Involuntary Conversion of Assets – We record gains or losses on involuntary conversions of assets due to recovered insurance proceeds to the extent the undepreciated cost of a nonmonetary asset differs from the amount of monetary proceeds received. During the years ending December 31, 2019, 2018, and 2017, we recognized approximately $0.3 million, approximately $0.9 million and $2.2, respectively, for gain on involuntary conversion of assets, which is reflected in the consolidated statements of operations. Comprehensive Income (Loss) – Comprehensive income (loss), as defined, includes all changes in equity (net assets) during a period from non-owner sources. We do not have any items of comprehensive income (loss) other than net income (loss). Segment Information – We have determined that our business is conducted in one reportable segment: hotel ownership. Use of Estimates – The preparation of the financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. New Accounting Pronouncements – In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) . The FASB issued this ASU to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet by lessees for those leases classified as operating leases under current GAAP and disclosing key information about leasing arrangements. The amendments in this ASU were effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2018. Early application of this ASU was permitted for all entities. In July 2018, considering the renewal period, 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. 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. We adopted these ASUs as of January 1, 2019. The right of use assets and corresponding liabilities were recorded in the amount of approximately $2.0 million and $5.0 million, respectively as of January 1, 2019 .

Acquisition of Hotel Properties

Acquisition of Hotel Properties	12 Months Ended
	Dec. 31, 2019
Business Combinations And Or Asset Acquisitions [Abstract]
Acquisition of Hotel Properties	3. Acquisition of Hotel Properties Hyde Beach House Resort & Residences. On September 26, 2019, we acquired the hotel commercial condominium unit of the Hyde Beach House Resort & Residences condominium hotel, for a total fair value of consideration transferred including inventory and other assets of approximately $6.3 million 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 hotels are included in our consolidated financial statements from the date of acquisition. The total revenue and net loss related to the Hyde Beach House Resort & Residences acquisition for the period September 26, 2019 to December 31, 2019 are approximately $1.2 million and $0.6 million, respectively. There was no revenue generated during 2018 for the Hyde Beach House Resort & Residences. The total revenue and net loss related to the Hyatt Centric Arlington acquisition for the period January 1, 2019 to December 31, 2019 are approximately $21.2 million and $1.1 million, respectively and total revenue and net income for the period March 1, 2018 to December 31, 2018 are approximately $18.1 million and $0.8 million, respectively. The allocation of the purchase price based on their fair values was as follows: Hyatt Centric Arlington Hyde Beach House Land and land improvements $ 190,916 $ 500 Buildings and improvements 70,369,046 5,564,219 Furniture, fixtures and equipment 6,229,888 347,621 Favorable lease and other intangible assets 3,054,812 — Investment in hotel properties 79,844,662 5,912,340 Accrued liabilities and other costs (111,946 ) — Prepaid expenses, inventory and other assets — 434,038 Net cash $ 79,732,716 $ 6,346,378

Investment in Hotel Properties,

Investment in Hotel Properties, Net	12 Months Ended
	Dec. 31, 2019
Real Estate [Abstract]
Investment in Hotel Properties, Net	4. Investment in Hotel Properties, Net Investment in hotel properties as of December 31, 2019 and 2018 consisted of the following: December 31, 2019 December 31, 2018 Land and land improvements $ 66,031,443 $ 64,409,730 Buildings and improvements 438,268,174 424,657,327 Right of use assets 6,452,259 — Furniture, fixtures and equipment 55,392,434 57,830,987 566,144,310 546,898,044 Less: accumulated depreciation and impairment (122,876,862 ) (111,172,230 ) Investment in Hotel Properties, Net $ 443,267,448 $ 435,725,814 Our review of possible impairment during the years ended December 31, 2019 and 2018, resulted in no impairment on our investment in hotel properties, respectively.

Debt

Debt	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
Debt	5. Debt Mortgage Loans, Net. As of December 31, 2019 and 2018, we had approximately $358.6 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 December 31, December 31, Prepayment Maturity Amortization Interest Property 2019 2018 Penalties Date Provisions Rate The DeSoto (1) $ 32,967,166 $ 33,824,350 Yes 7/1/2026 25 years 4.25% DoubleTree by Hilton Jacksonville Riverfront (2) 34,225,971 34,773,546 Yes 7/11/2024 30 years 4.88% DoubleTree by Hilton Laurel (3) 8,534,892 8,845,299 Yes 8/5/2021 25 years 5.25% DoubleTree by Hilton Philadelphia Airport (4) 41,419,590 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) 56,057,218 57,064,824 (6) 10/1/2025 30 years 4.913% Georgian Terrace (7) 43,335,291 44,202,968 (7) 6/1/2025 30 years 4.42% Hotel Alba Tampa, Tapestry Collection by Hilton (8) 18,000,104 18,307,000 None 6/30/2022 (8) LIBOR plus 3.75 % Hotel Ballast Wilmington, Tapestry Collection by Hilton (9) 33,401,622 34,236,104 Yes 1/1/2027 25 years 4.25% Hyatt Centric Arlington (10) 49,173,836 49,885,045 Yes 9/18/2028 30 years 5.25% Sheraton Louisville Riverside (11) 11,114,145 11,414,300 Yes 12/1/2026 25 years 4.27% The Whitehall (12) 14,450,420 14,733,458 Yes 2/26/2023 25 years LIBOR plus 3.50 % Total Mortgage Principal Balance $ 360,980,255 $ 367,613,880 Deferred financing costs, net (2,487,982 ) (2,951,327 ) Unamortized premium on loan 141,611 166,292 Total Mortgage Loans, Net $ 358,633,884 $ 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 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 the 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. At December 31, 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, with the exception of the mortgage on Hotel Alba Tampa. At December 31, 2019, we failed to meet the DSCR covenant under the mortgage on Hotel Alba Tampa. The loan agreement contains a balancing provision that allows us to either pay down the principal balance of the loan or offer cash collateral sufficient to meet the DSCR requirement. To date, we have provided $2.85 million in cash collateral to the lender. We are currently in discussions with the existing lender to determine a cash collateral reserve amount required to be in compliance under the mortgage. We anticipate that an additional cash collateral amount of approximately $3.65 million would be required to bring us into compliance under the DSCR requirement pursuant to that balancing provision of the loan agreement. Total future mortgage debt maturities, without respect to any extension of loan maturity, as of December 31, 2019 were as follows: For the twelve months ending December 31, 2020 $ 6,614,133 December 31, 2021 14,818,983 December 31, 2022 42,247,091 December 31, 2023 59,831,665 December 31, 2024 37,643,946 December 31, 2025 and thereafter 199,824,437 Total future maturities $ 360,980,255 Unsecured Notes 7.25% Unsecured Notes. On February 12, 2018, the Company and the Operating Partnership closed on a sale and issuance by the Operating Partnership of an aggregate $25.0 million of the 7.25% Notes, unconditionally guaranteed by the Company. The indenture required 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	12 Months Ended
	Dec. 31, 2019
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	6. Commitments and Contingencies Ground, Building and Submerged Land Leases – We lease 2,086 square feet of commercial space next to The DeSoto for use as an office, retail or conference space, or for any related or ancillary purposes for the hotel and/or atrium space. In December 2007, we signed an amendment to the lease to include rights to the outdoor esplanade adjacent to the leased commercial space. The areas are leased under a six-year operating lease, which expired October 31, 2006 and has been renewed for the third of five optional five-year renewal periods expiring October 31, 2021. Rent expense for this operating lease for the years ended December 31, 2019, 2018, and 2017 was each $72,984, respectively. We lease, as landlord, the entire fourteenth floor of the Savannah hotel property to The Chatham Club, Inc. under a ninety-nine- year lease expiring July 31, 2086. This lease was assumed upon the purchase of the building under the terms and conditions agreed to by the previous owner of the property. No rental income is recognized under the terms of this lease as the original lump sum rent payment of $990 was received by the previous owner and not prorated over the life of the lease. We lease land adjacent to the Hotel Alba Tampa, Tapestry Collection by Hilton for use as parking under a five-year renewable agreement with the Florida Department of Transportation that commenced in July 2019 and expires in July 2024. The agreement requires annual payments of $2,432, plus tax, and may be renewed for an additional five years. Rent expense for each of the years ended December 31, 2019, 2018, and 2017 was $2,152, $2,602 and $2,602, respectively. We leased 5,216 square feet of commercial office space in Williamsburg, Virginia under an agreement, as amended, that commenced September 1, 2009 and expired on December 31, 2019. Rent expense for the years ended December 31, 2019, 2018, and 2017 was $107,936, $96,117 and $90,208, respectively. We lease approximately 8,500 square feet of commercial office space in Williamsburg, Virginia under an agreement with a ten-year term beginning January 1, 2020. The initial annual rent under the agreement is $218,875, with the rent for each successive annual period increasing by 3.0% over the prior annual period’s rent. The annual rent will be offset by a tenant improvement allowance of $200,000, to be applied against one-half of each monthly rent payment until such time as the tenant improvement allowance is exhausted. We lease the land underlying all of the Hyatt Centric Arlington hotel pursuant to a ground lease. The ground lease requires us to make rental payments of $50,000 per year in base rent and percentage rent equal to 3.5% of gross room revenue in excess of certain thresholds, as defined in the ground lease agreement. The initial term of the ground lease expires in 2035 and may be extended by us for four additional renewal periods of 10 years each. Rent expense for the years ended December 31, 2019 and 2018, was $881,605 and $524,490, respectively. We entered into a 20-year parking and cabana management agreement for the parking garage and poolside cabanas associated with the Hyde Beach House. The parking and cabana management agreement, which is treated for accounting purposes as an embedded lease, requires us to make rental payments of $270,100 per year in base rent. The initial term of the parking garage and cabana lease expires in 2034 and may be extended for four additional renewal periods of 5 years each. We also lease certain furniture and equipment under financing arrangements expiring by June 2022. A schedule of minimum future lease payments for the following twelve-month periods is as follows: 2020 2019 For the twelve months ending December 31, $ 488,804 $ 364,163 December 31, 2021 469,811 354,639 December 31, 2022 425,735 351,464 December 31, 2023 386,682 351,464 December 31, 2024 386,682 351,464 December 31, 2025 and thereafter 12,045,965 3,217,237 Total $ 14,203,679 $ 4,990,431 Employment Agreements — The Company has entered into various employment contracts with employees that could result in obligations to us in the event of a change in control or termination without cause. Management Agreements – As of December 31, 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 December 31, 2019, eleven of our wholly-owned hotels and the rental program and condominium associations of the Hyde Resort & Residences and the Hyde Beach House Resort & Residences, operated under a management agreement with Chesapeake Hospitality (see Note 9). The management agreements for ten of those wholly-owned hotels expired on January 1, 2020, and management of those hotels was transferred to Our Town. The remaining three individual hotel management agreements with Chesapeake Hospitality expire on December 31, 2020. 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. As of December 31, 2019, we had entered into individual hotel management agreements with Our Town for the management of ten of our wholly-owned hotels. Each of these management agreements have initial terms commencing January 1, 2020 and expiring March 31, 2025. Each of the individual hotel management agreements may be terminated earlier than the stated term upon the sale of the hotel covered by the respective management agreement, in which case we may incur early termination fees. Franchise Agreements – As of December 31, 2019, most of our hotels operate under franchise licenses from national hotel companies. Under the franchise agreements, we are required to pay a franchise fee generally between 3.0% and 5.0% of room revenues, plus additional fees for marketing, central reservation systems, and other franchisor programs and services that amount to between 3.0% and 4.0% of gross revenues from the hotels. The franchise agreements currently expire between June 2019 and October 2030. On April 12, 2016, we allowed the franchise agreement on the Crowne Plaza Houston Downtown to expire. The property has been rebranded as The Whitehall. On July 31, 2017, we allowed the franchise agreement on the Hilton Savannah DeSoto to expire. The property has been rebranded as The DeSoto and operates as an independent hotel. Each of our franchise agreements provides for early termination fees in the event the agreement is terminated before the stated term. Restricted Cash Reserves – Each month, we are required to escrow with the lenders on the Hotel Ballast Wilmington, Tapestry Collection by Hilton, The DeSoto, the DoubleTree by Hilton Raleigh Brownstone-University, the DoubleTree by Hilton Jacksonville Riverside, the DoubleTree Resort by Hilton Hollywood Beach and the Georgian Terrace an amount equal to 1 / 12 of the annual real estate taxes due for the properties. We are also required by several of our lenders to establish individual property improvement funds to cover the cost of replacing capital assets at our properties. Each month, those contributions equal 4.0% of gross revenues for The DeSoto, the Hotel Ballast Wilmington, Tapestry Collection by Hilton, the DoubleTree by Hilton Jacksonville Riverside, the DoubleTree Resort by Hilton Hollywood Beach, DoubleTree by Hilton Raleigh Brownstone–University, the Whitehall and the Georgian Terrace and equal 4.0% of room revenues for the DoubleTree by Hilton Philadelphia Airport and the Hyatt Centric Arlington. ESOP Loan Commitment – The Company’s board of directors approved the ESOP on November 29, 2016, which was adopted by the Company in December 2016 and effective January 1, 2016. The ESOP is a non-contributory defined contribution plan covering all employees of the Company. The ESOP is a leveraged ESOP, meaning the contributed funds are loaned to the ESOP from the Company. The Company entered into a loan agreement with the ESOP on December 29, 2016, pursuant to which the ESOP may borrow up to $5.0 million to purchase shares of the Company’s common stock on the open market. Under the loan agreement, the aggregate principal amount outstanding at any time may not exceed $5.0 million and the ESOP may borrow additional funds up to that limit in the future, until December 29, 2036. Between January 3, 2017 and February 28, 2017, the Company’s ESOP purchased 682,500 shares of the Company’s common stock of an aggregate cost of $4.9 million. Litigation – We are not involved in any material litigation, nor, to our knowledge, is any material litigation threatened against us. We have settled, during the period covered by this report, all significant claims made during the same period. We are involved in routine litigation arising out of the ordinary course of business, all of which we expect to be covered by insurance and we believe it is not reasonably possible such matters will have a material impact on our financial condition or results of operations.

Preferred Stock and Units

Preferred Stock and Units	12 Months Ended
	Dec. 31, 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 Quarterly Annum Liquidation Issued and Outstanding as of Distributions Preferred Stock - Series Rate Preference December 31, 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 1,554,610 1,352,141 $ 0.492188 Series D Preferred Stock 8.250 % $25.00 1,200,000 - $ 0.515625 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 and May 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. 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 period ended December 31, 2018, the Company sold 52,141 shares of Series C Preferred Stock, for net proceeds of approximately $1.0 million. During September 2019, the Company issued and sold 202,469 shares of Series C Preferred Stock, for net proceeds after all estimated expenses of approximately $4.9 million, pursuant to the Sales Agency Agreement. The Company contributed the net proceeds from the offering to its Operating Partnership for an equivalent number of Series C Preferred Units. In October 2017, the Company issued 1,300,000 shares of Series C Preferred Stock, for net proceeds after all estimated expenses of approximately $30.5 million. The Company contributed the net proceeds from the offering to its Operating Partnership for an equivalent number of Series C Preferred Units. Holders of the Company’s Series C Preferred Stock are entitled to receive distributions when authorized by the Company’s board of directors out of assets legally available for the payment of distributions. The Company pays cumulative cash distributions on the Series C Preferred Stock at a rate of 7.875% per annum of the $25.00 liquidation preference per share. The Series C Preferred Stock is not redeemable by the holders, has no maturity date and is not convertible into any other security of the Company or its affiliates. Preferred Units – The Company is the holder of the Operating Partnership’s preferred partnership units and is entitled to receive distributions when authorized by the general partner of the Operating Partnership out of assets legally available for the payment of distributions. The following table sets forth our Cumulative Redeemable Perpetual Preferred Units by series: Per Number of Units Quarterly Annum Liquidation Issued and Outstanding as of Distributions Preferred Units - Series Rate Preference December 31, 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 1,554,610 1,352,141 $ 0.492188 Series D Preferred Units 8.250 % $25.00 1,200,000 - $ 0.515625 The Company pays cumulative cash distributions on the preferred units at rates in the above table per annum of the $25.00 liquidation preference per unit. 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 shares of 8.25% Series D Preferred Units, for net proceeds after all estimated expenses of approximately $28.4 million. In September and December 2018, the Operating Partnership issued 52,141 units of 7.875% Series C Preferred Units, for net proceeds after all estimated expenses of approximately $1.0 million. In October 2017, the Operating Partnership issued 1,300,000 units of 7.875% Series C Preferred Units, for net proceeds after all estimated expenses of approximately $30.5 million. The Operating Partnership used the net proceeds to redeem in full the Operating Partnership’s 7% Notes and for working capital. The following table presents the quarterly distributions by the Operating Partnership declared and payable per Quarter Ended 2017 2018 2019 March 31, $ 0.500000 $ 0.500000 $ 0.500000 June 30, $ 0.500000 $ 0.500000 $ 0.500000 September 30, $ 0.500000 $ 0.500000 $ 0.500000 December 31, $ 0.500000 $ 0.500000 $ 0.500000 The following table presents the quarterly distributions by the Operating Partnership declared and payable per Series C Preferred Unit and dividends by the Company declared and payable per share of Series C Preferred Stock, for the years ended December 31, 2019, 2018, and 2017: Quarter Ended 2017 2018 2019 March 31, $ — $ 0.492188 $ 0.492188 June 30, $ — $ 0.492188 $ 0.492188 September 30, $ — $ 0.492188 $ 0.492188 December 31, $ 0.432030 (1) $ 0.492188 $ 0.492188 (1) (1) For the short period from October 11, 2017 to December 31, 2017. The following table presents the quarterly distributions by the Operating Partnership declared and payable per Series D Preferred Unit and dividends by the Company declared and payable per share of Series D Preferred Stock, for the years ended December 31, 2019, 2018, and 2017: Quarter Ended 2017 2018 2019 March 31, $ — $ — $ — June 30, $ — $ — $ 0.418230 (2) September 30, $ — $ — $ 0.515625 December 31, $ — $ — $ 0.515625 (2) The initial quarterly 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.

Common Stock and Units

Common Stock and Units	12 Months Ended
	Dec. 31, 2019
Equity [Abstract]
Common Stock and Units	8. Common Stock and Units Common Stock – The Company is authorized to issue up to 69,000,000 shares of common stock, $0.01 par value per share. Each outstanding share of common stock entitles the holder to one vote on all matters submitted to a vote of stockholders. Holders of the Company’s common stock are entitled to receive distributions when authorized by the Company’s board of directors out of assets legally available for the payment of distributions. 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. Cumulative through December 31, 2019 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. During 2017, the ESOP purchased 682,500 shares of the Company’s common stock for approximately $4.9 million. There have been no more purchases of shares of common stock made by the ESOP in 2018 or 2019. The following is a list of issuances during the years ended December 31, 2019, 2018, and 2017 of the Company’s common stock: On October 1, 2019, one holder of units in the Operating Partnership redeemed 50,000 units for an equivalent number of shares of the Company’s common stock. On 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. On August 31, 2018, we entered into a Sales Agency Agreement, with Sandler O’Neill, under which the Company may sell from time to time through Sandler O’Neill, as sales agent, shares of the Company’s common stock, par value $0.01 per share, having an aggregate gross sales price of up to $5,000,000. Through December 31, 2018, the Company sold 88,297 shares of common stock, for net proceeds of approximately $0.6 million. On February 5, 2018, the Company was issued 17,250 units in the Operating Partnership and awarded 15,000 shares of restricted stock and 2,250 shares of unrestricted stock to its independent directors. On January 1, 2018, the Company was issued 25,000 units in the Operating Partnership and awarded 25,000 shares of restricted stock to one of its employees. On February 15, 2017, the Company was issued 12,000 units in the Operating Partnership and awarded 12,000 shares of restricted stock to its independent directors. As of December 31, 2019 and 2018, the Company had 14,272,378 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 December 31, 2019 and 2018, the total number of Operating Partnership units outstanding was 15,950,518 and 15,987,518, respectively. As of December 31, 2019 and 2018, the total number of outstanding units in the Operating Partnership not owned by the Company was 1,728,140 and 1,778,140, respectively, with a fair market value of approximately $11.7 million and approximately $10.0 million, respectively, based on the price per share of the common stock on such respective dates. Common Stock Dividends and Unit Distributions – The following table presents the quarterly stock dividends and unit distributions by us declared and payable per common stock/unit for the years ended December 31, 2019, 2018, and 2017: Quarter Ended 2017 2018 2019 March 31, $ 0.100 $ 0.115 $ 0.125 June 30, $ 0.105 $ 0.120 $ 0.130 September 30, $ 0.110 $ 0.125 $ 0.130 December 31, $ 0.110 $ 0.125 $ 0.130

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2019
Related Party Transactions [Abstract]
Related Party Transactions	9. Related Party Transactions Chesapeake Hospitality. Chesapeake Hospitality is owned and controlled by individuals including Kim E. Sims and Christopher L. Sims, each a former director of Sotherly and a sibling of our Chairman. As of December 31, 2019, Andrew M. Sims, Kim E. Sims and Christopher L. Sims, beneficially owned, directly or indirectly, approximately 0.0%, 24.8%, and 24.8%, 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. Prior to November 2019, Andrew M. Sims, our Chairman, owned approximately 19.3% of the total outstanding ownership interests of Chesapeake Hospitality, all of which have since been sold. The following is a summary of the transactions between Chesapeake Hospitality and us: Accounts Receivable – At December 31, 2019 and 2018, we were due $81,223 and $91,987, respectively, from Chesapeake Hospitality. Management Agreements – Chesapeake Hospitality is currently the management company for our DoubleTree Resort by Hilton Hollywood Beach hotel, the Hyde Resort & Residences, and the Hyde Beach House Resort & Residences. Prior to January 1, 2020, Chesapeake Hospitality was the manager for each of our hotels that we wholly-owned at December 31, 2019 and 2018, with the exception of the Hyatt Centric Arlington, under various hotel management agreements. On January 1, 2020, the management agreements for ten of our wholly-owned hotels expired. Those hotels are now managed by Our Town as described below. In connection with the termination of those ten Chesapeake management agreements, we expect to pay approximately $0.3 million in termination fees. The Chesapeake management agreements for the DoubleTree Resort by Hilton Hollywood Beach, the Hyde Resort & Residences, and the Hyde Beach House Resort & Residences are still in effect and are set to expire on December 31, 2020. The Hyatt Centric Arlington which we acquired on March 1, 2018 is managed by an independent management company. On December 15, 2014, we entered into a master agreement and a series of individual hotel management agreements with Chesapeake Hospitality that became effective on January 1, 2015. The master agreement had an initial term of five-years, but is automatically extended for so long as an individual management agreement remains in effect. We expect the master agreement to terminate in connection with the expiration of the hotel management agreements for the DoubleTree Resort by Hilton Hollywood Beach, the Hyde Resort & Residences, and the Hyde Beach House Resort & Residences. The base management fee for the Whitehall and the Georgian Terrace remained at 2.00% through 2015, increased to 2.25% in 2016 and increased to 2.50% thereafter. The base management fees for the remaining properties in the current portfolio were 2.65% through 2017 and decreased to 2.50% thereafter. Base management fees earned by Chesapeake Hospitality totaled $4,803,185, $4,617,471 and $4,044,059 for the years ended December 31, 2019, 2018, and 2017, respectively. In addition, incentive management fees of $164,168, $168,231 and $126,918 were expensed for the years ended December 31, 2019, 2018, and 2017, respectively. Employee Medical Benefits – Prior to January 1, 2020, we purchased employee medical benefits through Maryland Hospitality, Inc. (d/b/a MHI Health), an affiliate of Chesapeake Hospitality for those employees employed by Chesapeake Hospitality that work exclusively for our hotel properties managed by Chesapeake Hospitality. Gross premiums for employee medical benefits paid by the Company (before offset of employee co-payments) were $5,564,121, $5,050,304 and $4,801,599 for the years ended December 31, 2019, 2018, and 2017, respectively. Workers’ Compensation Insurance – Prior to January 1, 2020, pursuant to our management agreements with Chesapeake Hospitality, we pay the premiums for workers’ compensation insurance under a self-insured policy owned by Chesapeake Hospitality or its affiliates, and which covers those employees of Chesapeake Hospitality that work exclusively for the properties managed by Chesapeake Hospitality. For the years ended December 31, 2019, 2018, and 2017, we paid $994,750, $919,642 and $1,017,294, 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. Our Town Hospitality. Our Town is currently the management company for ten of our twelve wholly owned hotels. Our Town is a majority-owned subsidiary of Newport Hospitality Group, Inc (“Newport”). As of January 1, 2020, Andrew M. Sims, our Chairman, and David R. Folsom, our President and Chief Executive Officer, beneficially owned approximately 19.5% and 2.5%, respectively, of the total outstanding ownership interests of Our Town . Both Mr. Sims and Mr. Folsom serve as directors of Our Town and have certain governance rights . The following is a summary of the transactions between Our Town and us Management Agreements – On September 6, 2019, we entered into a master agreement with Newport and Our Town related to the management of ten of our hotels. On December 13, 2019, we entered into an amendment to the master agreement (as amended, the “OTH Master Agreement”), as well as a series of individual hotel management agreements (each an “OTH Hotel Management Agreement” and, together, the “OTH Hotel Management Agreements”) for the management of ten of our hotels. Sotherly agreed to provide Our Town with initial working capital of up to $1.0 million as an advance on the management fees that we will owe to Our Town under the OTH Hotel Management Agreements. The advanced funds will be offset against future management fees otherwise payable to Our Town by means of a 25% reduction in such fees each month during 2020. Any management fee advances not recouped in such fashion will be deemed satisfied at the end of 2020. As of December 31, 2019, Sotherly had advanced approximately $0.6 million to Our Town as initial working capital. In addition, the OTH Master Agreement provides for an adjustment to the fees payable by us under the OTH Hotel Management Agreements in the event the net operating income of Our Town falls below $250,000 for any calendar year beginning on or after January 1, 2021 . The OTH Master Agreement expires on March 31, 2025 but shall be extended beyond 2025 for such additional periods as an OTH Hotel Management Agreement remains in effect. The base management fees for each hotel under management with Our Town is 2.50%. For any new individual hotel management agreements, Our Town will receive a base management fee of 2.00% of gross revenues for the first full year from the commencement date through the anniversary date, 2.25% of gross revenues the second full year, and 2.50% of gross revenues for every year thereafter. Sublease – On December 13, 2019, we entered into a sublease agreement with Our Town pursuant to which Our Town subleases 2,245 square feet of office space from Sotherly for a period of 5 years, with a 5 year renewal subject to approval by Sotherly, on terms and conditions similar to the terms of the prime lease entered into by Sotherly and the third party owner of the property. Credit Agreement – On December 13, 2019, we entered into a credit agreement with Our Town effective January 1, 2020, pursuant to which Sotherly agreed to provide Our Town with a working capital line of credit, the agreement, as amended, allows Our Town to borrow up to $850,000. Our Town may draw against the line of credit from time to time prior to January 1, 2021 when the facility becomes payable in full. Interest will accrue on the outstanding balance at 3.5% per annum and is payable quarterly in arrears. In the event of a default under the credit agreement, we have the right to offset any outstanding unpaid balance against amounts we owe to Our Town under the OTH Hotel Management Agreements. As of December 31, 2019, there was no outstanding credit balance under the credit agreement. Employee Medical Benefits – We will purchase employee medical benefits through Our Town (or its affiliate) for those employees that are employed by Our Town that work exclusively for our properties, starting January 1, 2020. Other Related Parties – On June 24, 2013 we hired Ashley S. Kirkland, the daughter of our Chairman, and Robert E. Kirkland IV, her husband, as employees. On October 2, 2014, we hired Andrew M. Sims Jr., the son of our Chairman, as an employee. Robert E. Kirkland IV currently serves as General Counsel, Ashley S. Kirkland currently serves as Corporate Counsel and Compliance Officer, and Andrew M. Sims Jr. currently serves as Vice President – Operations & Investor Relations. Compensation for the years ended December 31, 2019, 2018, and 2017 totaled $415,005, $386,456 and $304,737, respectively, for the three individuals. On October 1, 2019, one previous member of our Board of Directors redeemed 50,000 units for an equivalent number of shares of the Company’s common stock, pursuant to the terms of the partnership agreement. During the years ending December 31, 2019, 2018, and 2017, the Company reimbursed $119,907, $146,105 and $178,345, respectively, to a partnership controlled by Andrew M. Sims for business-related air travel pursuant to the Company’s travel reimbursement policy.

Retirement Plans

Retirement Plans	12 Months Ended
	Dec. 31, 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 requiring that we match 100.0% of the first 3.0% of employee contributions and 50.0% of the next 2.0% of employee contributions. All employer matching funds vest immediately in accordance with the “safe harbor” provisions. Contributions to the plan for the years ended December 31, 2019, 2018, and 2017 were $72,438, $71,623 and $67,273, respectively. Employee Stock Ownership Plan - The Company adopted an ESOP in December 2016, effective January 1, 2016. The ESOP is a non-contributory defined contribution plan covering all employees of the Company. The Company sponsors and maintains the ESOP and related trust for the benefit of its eligible employees. The ESOP is a leveraged ESOP, meaning funds are loaned to the ESOP from the Company. The Company entered into a loan agreement with the ESOP on December 29, 2016, pursuant to which the ESOP may borrow up to $5.0 million to purchase shares of the Company’s common stock on the open market, which serve as collateral for the loan. Between January 3, 2017 and February 28, 2017, the Company’s ESOP purchased 682,500 shares of the Company’s common stock of an aggregate cost of $4.9 million. Shares purchased by the ESOP are held in a suspense account for allocation among participants 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 December 31, 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. During 2019, one employee resigned from the Company and withdrew 3,012 shares from the ESOP. A total of 104,672 and 69,306 shares with a fair value of $709,676 and $388,805 remained allocated or committed to be released from the suspense account as of December 31, 2019 and 2018, respectively. We recognized as compensation cost $219,645, $209,263 and $135,500 during the twelve months ended December 31, 2019, 2018 and 2017, respectively. The remaining 574,816 unallocated shares have an approximate fair value of $3.9 million, as of December 31, 2019. At December 31, 2019, the ESOP held a total of 66,295 allocated shares, 38,377 committed-to-be-released shares and 574,816 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 December 31, 2019 December 31, 2018 Number of Shares Fair Value Number of Shares Fair Value Allocated shares 66,295 $ 449,480 33,832 $ 189,798 Committed to be released shares 38,377 260,196 35,474 199,007 Total Allocated and Committed-to-be-Released 104,672 $ 709,676 69,306 $ 388,805 Unallocated shares 574,816 3,897,252 613,194 3,440,020 Total ESOP Shares 679,488 $ 4,606,928 682,500 $ 3,828,825

Indirect Hotel Operating Expens

Indirect Hotel Operating Expenses	12 Months Ended
	Dec. 31, 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: 2019 2018 2017 Sales and marketing $ 16,857,613 $ 15,998,281 $ 13,843,578 General and administrative 15,401,458 14,581,707 12,949,596 Repairs and maintenance 7,939,836 7,624,031 6,828,963 Utilities 6,282,218 6,266,192 5,820,589 Property taxes 7,044,085 6,225,508 5,729,464 Management fees, including incentive 5,259,194 4,785,702 4,170,977 Franchise fees 4,706,459 4,308,065 3,877,231 Insurance 3,303,366 2,894,708 2,446,269 Information and telecommunications 2,558,489 2,142,698 1,647,728 Other 1,042,915 818,608 297,808 Total indirect hotel operating expenses $ 70,395,633 $ 65,645,500 $ 57,612,203

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Income Taxes	12. Income Taxes The components of the provision for (benefit from) income taxes for the years ended December 31, 2019, 2018, and 2017 are as follows: Year Ended Year Ended Year Ended December 31, 2019 December 31, 2018 December 31, 2017 Current: Federal $ (125,587 ) $ — $ — State 157,012 149,410 239,582 31,425 149,410 239,582 Deferred: Federal (244,360 ) 351,663 1,661,153 State (36,545 ) (31,724 ) (162,931 ) (280,905 ) 319,939 1,498,222 $ (249,480 ) $ 469,349 $ 1,737,804 A reconciliation of the statutory federal income tax provision (benefit) to the Company’s provision for (benefit from) income tax is as follows: Year Ended Year Ended Year Ended December 31, 2019 December 31, 2018 December 31, 2017 Statutory federal income tax provision $ 194,479 $ (29,150 ) $ 600,880 Effect of non-taxable REIT loss (564,426 ) 380,813 (1,621,526 ) Effect of change in federal income tax rate on net deferred tax assets - - 2,681,800 State income tax provision 120,467 117,686 76,650 $ (249,480 ) $ 469,349 $ 1,737,804 As of December 31, 2019 and 2018, we had a net deferred tax asset of approximately $5.4 million and $5.1 million, respectively, of which, approximately $5.0 million and $4.4 million, respectively, are due to accumulated net operating losses of our TRS Lessees. These loss carryforwards will begin to expire in 2028 if not utilized. As of December 31, 2019 and 2018, the remainder of the deferred tax asset is attributable to year-to-year timing differences of approximately $0.4 and $0.7 million for accrued, but not deductible, employee performance awards, vacation and sick pay, bad debt allowance and depreciation. At the end of the 2017 fiscal year, there was a one-time loss effect resulting from a change in the federal income tax rate, due to the TCJA, on the net deferred tax assets which resulted in lowering deferred tax assets in the amount of approximately $2.7 million. We record a valuation allowance to reduce deferred tax assets to an amount that we believe is more likely than not to be realized. Because of expected future taxable income of our TRS Lessees, we have not recorded a valuation allowance to reduce our net deferred tax asset as of December 31, 2019. We regularly evaluate the likelihood that our TRS Lessees will be able to realize their deferred tax assets and the continuing need for a valuation allowance. At December 31, 2019, 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 Lessees. A number of factors played a critical role in this determination, including: • a demonstrated track record of past profitability and utilization of past NOL carryforwards, • reasonable forecasts of future taxable income, and • anticipated changes in the lease rental payments from the TRS Lessees to subsidiaries of the Operating Partnership. At December 31, 2019, we determined, based on all available positive and negative evidence, that it is more-likely-than-not that future taxable income will be available during the carryforward periods to absorb all of the consolidated federal and state net operating loss carryforward.

Loss per Share and per Unit

Loss per Share and per Unit	12 Months Ended
	Dec. 31, 2019
Earnings Per Share [Abstract]
Loss per Share and per Unit	13. Loss per Share and per Unit Loss Per Share . The limited partners’ outstanding limited partnership units in the Operating Partnership (which may be redeemed for common stock upon notice from the limited partner and following our election to redeem the units for stock rather than cash) have been excluded from the diluted earnings per share calculation as there would be no effect on the amounts since the limited partners’ share of income would also be added back to net loss. The shares of the Series B Preferred Stock, 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 574,816, 613,194 and 648,668 non-committed, unearned ESOP shares are treated as reducing the number of issued and outstanding common shares and similarly reducing the weighted average number of common shares outstanding, for the years ended December 31, 2019, 2018 and 2017, respectively. The effect of allocated and committed to be released shares during the years ended December 31, 2019, 2018 and 2017, have not been included in the weighted average diluted earnings per share calculation, since there would be an anti-dilutive effect from the dilution by these shares, although the amount of compensation for allocated shares is reflected in net loss available to common stockholders for basic computation. There are no ESOP units, therefore there is no dilution on the calculation of earnings per unit. The computation of basic net loss per share is presented below. Year Ended Year Ended Year Ended December 31, 2019 December 31, 2018 December 31, 2017 Numerator Net loss available to common stockholders for basic computation $ (5,911,251 ) $ (5,719,978 ) $ (3,339,136 ) Denominator Weighted average number of common shares outstanding 14,233,513 14,145,838 14,445,865 Weighted average number of Unearned ESOP Shares (590,940 ) (628,350 ) (616,765 ) Total weighted average number of common shares outstanding for basic computation 13,642,573 13,517,488 13,829,100 Basic net loss per share $ (0.43 ) $ (0.42 ) $ (0.24 ) Loss Per Unit . The computation of basic loss per unit is presented below. Year Ended Year Ended Year Ended December 31, 2019 December 31, 2018 December 31, 2017 Numerator Net loss available to general and limited partnership unitholders for basic computation $ (6,645,127 ) $ (6,438,071 ) $ (3,752,150 ) Denominator Weighted average number of general and limited partnership units outstanding 16,011,653 15,923,978 16,224,005 Basic net loss per general and limited partnership unit $ (0.42 ) $ (0.40 ) $ (0.23 )

Quarterly Operating Results - U

Quarterly Operating Results - Unaudited	12 Months Ended
	Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
Quarterly Operating Results - Unaudited	14. Quarterly Operating Results - Unaudited Quarters Ended 2019 March 31 June 30 September 30 December 31 Total revenue $ 47,390,304 $ 51,540,701 $ 42,552,175 $ 44,304,953 Total operating expenses 41,927,258 42,653,243 40,402,009 42,459,108 Net operating income 5,463,046 8,887,458 2,150,166 1,845,845 Net income (loss) (390,205 ) 1,149,315 2,068,746 (1,652,288 ) Net income (loss) attributable to common shareholders (1,653,763 ) (731,711 ) (106,827 ) (3,418,950 ) Earnings (loss) per share attributable to common shareholders– basic and diluted $ (0.12 ) $ (0.05 ) $ (0.01 ) $ (0.25 ) Net income (loss) available to operating partnership unitholders (1,860,712 ) (823,067 ) (120,164 ) (3,841,184 ) Earnings (loss) per unit attributable to operating partnership unitholders– basic and diluted $ (0.12 ) $ (0.05 ) $ (0.01 ) $ (0.23 ) Quarters Ended 2018 March 31 June 30 September 30 December 31 Total revenue $ 41,735,556 $ 51,553,527 $ 41,418,062 $ 43,465,976 Total operating expenses 37,041,269 42,275,569 38,298,919 40,451,053 Net operating income 4,694,287 9,277,958 3,119,143 3,014,923 Net income(loss) 1,176,488 2,967,589 (1,981,780 ) (2,770,453 ) Net income (loss) attributable to common shareholders (238,343 ) 1,352,414 (3,065,883 ) (3,768,166 ) Earnings (loss) per share attributable to common shareholders– basic and diluted $ (0.02 ) $ 0.10 $ (0.23 ) $ (0.28 ) Net income (loss) available to operating partnership unitholders (268,356 ) 1,522,745 (3,451,499 ) (4,240,961 ) Earnings (loss) per unit attributable to operating partnership unitholders– basic and diluted $ (0.02 ) $ 0.10 $ (0.22 ) $ (0.27 )

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2019
Subsequent Events [Abstract]
Subsequent Events	15. Subsequent Events Effective January 1, 2020, we made several appointments to our senior leadership team. We appointed Andrew M. Sims as Chairman of the Board of Directors; David R. Folsom as President and Chief Executive Officer; Scott M. Kucinski as Executive Vice President and Chief Operating Officer; and Robert E. Kirkland as General Counsel. In connection with the appointments, we entered into employment agreements with each of these individuals. On January 10, 2020, 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 December 13, 2019. On January 15, 2020, we paid a quarterly dividend (distribution) of $0.50 per Series B Preferred Stock (and unit) to the preferred stockholders (and unitholders of the Operating Partnership) of record on December 31, 2019. On January 15, 2020, we paid a quarterly dividend (distribution) of $0.4922 per Series C Preferred Stock (and unit) to the preferred stockholders (and unitholders of the Operating Partnership) of record on December 31, 2019. On January 15, 2020, we paid a quarterly dividend (distribution) of $0.515625 per Series D Preferred Stock (and unit) to the preferred stockholders (and unitholders of the Operating Partnership) of record on December 31, 2019 On January 27, 2020, 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 March 13, 2020. The dividend (distribution) is currently scheduled to be paid on April 9, 2020. On January 27, 2020, we authorized payment of a quarterly dividend of $0.50 per Series B Preferred Share (and unit) to the preferred stockholders (and unitholders of the Operating Partnership) of record as of March 31, 2020. The dividend is currently scheduled to be paid on April 15, 2020. On January 27, 2020, we authorized payment of a quarterly dividend of $0.4922 per Series C Preferred Share (and unit) to the preferred stockholders (and unitholders of the Operating Partnership) of record as of March 31, 2020. The dividend is currently scheduled to be paid on April 15, 2020. On January 27, 2020, we authorized payment of a quarterly dividend of $0.515625 per Series D Preferred Share (and unit) to the preferred stockholders (and unitholders of the Operating Partnership) of record as of March 31, 2020. The dividend is currently scheduled to be paid on April 15, 2020. As a result of the impact of the novel coronavirus (COVID-19) on our business, we anticipate that our board of directors will re-evaluate our current dividend policy with regard to both our common and preferred stock, and may consider eliminating, suspending, or significantly reducing the dividend, including previously authorized and declared dividends, until more information regarding the effect of the virus and its duration is available. On February 14, 2020, we entered into a hotel purchase and sale agreement to sell the Sheraton Louisville Riverside hotel located in Jeffersonville, Indiana to 808 Indiana LLC for a purchase price of $13.5 million. Certain representations and warranties of the seller under the purchase and sale agreement, Louisville Hotel Associates, LLC, a wholly-owned, indirect subsidiary of the Company, are guaranteed by the Operating Partnership up to a maximum of $750,000. The Company intends to use proceeds from the sale of the hotel to repay the existing mortgage on the hotel and for general corporate purposes. The closing of the sale is subject to various customary closing conditions, including the satisfactory completion of a diligence review of the hotel, the accuracy of representations and warranties through closing, conditions related to the operation and maintenance of the hotel, and conditions related to franchise approval.

Schedule III - Real Estate and

Schedule III - Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2019
Real Estate And Accumulated Depreciation Disclosure [Abstract]
Schedule III - Real Estate and Accumulated Depreciation	SOTHERLY HOTELS INC. SOTHERLY HOTELS LP AS OF DECEMBER 31, 2019 (in thousands) Costs Capitalized Life on Initial Costs Subsequent to Acquisition Gross Amount At End of Year Accumulated Which Building & Building & Building & Depreciation Date of Date Depreciation Description Encumbrances Land Improvements Land Improvements Land Improvements Total & Impairment Construction Acquired is Computed The DeSoto – Savannah, Georgia $ 32,967 $ 600 $ 13,562 $ 813 $ 18,695 $ 1,413 $ 32,257 $ 33,670 $ (11,643 ) 1968 2004 3-39 years DoubleTree by Hilton Jacksonville Riverfront – Jacksonville, Florida 34,226 7,090 14,604 148 7,443 7,238 22,047 29,286 (8,179 ) 1970 2005 3-39 years DoubleTree by Hilton Laurel – Laurel, Maryland 8,535 900 9,443 64 5,681 964 15,124 16,088 (5,261 ) 1985 2004 3-39 years DoubleTree by Hilton Philadelphia Airport – Philadelphia, Pennsylvania 41,420 2100 22,031 400 6,590 2,500 28,621 31,121 (11,162 ) 1972 2004 3-39 years DoubleTree by Hilton Raleigh Brownstone – University – Raleigh, North Carolina 18,300 815 7,416 3,790 6,626 4,605 14,042 18,647 (6,365 ) 1971 2004 3-39 years DoubleTree Resort by Hilton Hollywood Beach - Hollywood Beach, Florida 56,057 22,865 67,660 627 7,912 23,492 75,572 99,064 (8,736 ) 1972 2015 3-39 years Georgian Terrace – Atlanta, Georgia 43,335 10,128 45,386 (1,300 ) 5,784 8,828 51,170 59,998 (8,294 ) 1911 2014 3-39 years Hotel Alba Tampa, Tapestry Collection by Hilton – Tampa, Florida 18,000 $ 4,153 $ 9,670 $ 1,739 $ 25,964 $ 5,892 $ 35,634 $ 41,526 $ (9,225 ) 1973 2007 3-39 years Hotel Ballast Wilmington, Tapestry Collection by Hilton – Wilmington, North Carolina 33,402 785 16,829 1,149 14,529 1,934 31,358 33,292 (12,914 ) 1970 2004 3-39 years Hyatt Centric Arlington - Arlington, Virginia 49,174 191 70,369 79 1,258 270 71,627 71,897 (3,382 ) 2018 3-39 years Sheraton Louisville Riverside – Jeffersonville, Indiana 11,114 782 6,891 407 14,813 1,189 21,704 22,893 (7,032 ) 1972 2006 3-39 years The Whitehall – Houston, Texas 14,450 7,374 22,185 106 6,927 7,480 29,112 36,592 (4,986 ) 1963 2013 3-39 years Hyde Resort & Residences - 226 4,290 - - 226 4,290 4,516 (321 ) 2016 2017 3-39 years Hyde Beach House Resort & Residences 5,710 - - - 5,710 5,710 (37 ) 2019 2019 3-39 years $ 360,980 $ 58,009 $ 316,046 $ 8,022.55 $ 122,222 $ 66,032 $ 438,268 $ 504,300 $ (97,537 ) (1) RECONCILIATION OF REAL ESTATE AND ACCUMULATED DEPRECIATION RECONCILIATION OF REAL ESTATE Balance at December 31, 2017 $ 408,037 Acquisitions 71,037 Improvements 14,355 Disposal of Assets (4,362 ) Balance at December 31, 2018 $ 489,067 Acquisitions 5,710 Improvements 13,097 Disposal of Assets (3,574 ) Balance at December 31, 2019 $ 504,300 RECONCILIATION OF ACCUMULATED DEPRECIATION Balance at December 31, 2017 $ 75,111 Current Expense 14,787 Impairment — Disposal of Assets (4,243 ) Balance at December 31, 2018 $ 85,655 Current Expense 14,770 Impairment — Disposal of Assets (2,888 ) Balance at December 31, 2019 $ 97,537

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 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 and the MHI TRS Entities. All significant inter-company balances and transactions have been eliminated. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. The consolidated financial statements of the Operating Partnership presented herein include all of the accounts of Sotherly Hotels LP and the MHI TRS Entities. All significant inter-company balances and transactions have been eliminated. Additionally, all administrative expenses of the Company and those expenditures made by the Company on behalf of the Operating Partnership are reflected as the administrative expenses, expenditures and obligations thereto of the Operating Partnership, pursuant to the terms of the Partnership Agreement.
Investment in Hotel Properties	Investment in Hotel Properties – Investments in hotel properties include investments in operating properties which are recorded at fair value on acquisition date and allocated to land, property and equipment and identifiable intangible assets. Replacements and improvements are capitalized, while repairs and maintenance are expensed as incurred. Upon the sale or retirement of a fixed asset, the cost and related accumulated depreciation are removed from our accounts and any resulting gain or loss is included in the statements of operations. Expenditures under a renovation project, which constitute additions or improvements that extend the life of the property, are capitalized. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, generally 7 to 39 years for buildings and building improvements and 3 to 10 years for furniture, fixtures and equipment. Leasehold improvements are amortized over the shorter of the lease term or the useful lives of the related assets. We review our investments in hotel properties for impairment whenever events or changes in circumstances indicate that the carrying value of the hotel properties may not be recoverable. Events or circumstances that may cause a review include, but are not limited to, adverse permanent changes in the demand for lodging at the properties due to declining national or local economic conditions and/or new hotel construction in markets where the hotels are located. When such conditions exist, management performs an analysis to determine if the estimated undiscounted future cash flows from operations and the proceeds from the ultimate disposition of a hotel property exceeds its carrying value. If the estimated undiscounted future cash flows are found to be less than the carrying amount of the asset, an adjustment to reduce the carrying amount to the related hotel property’s estimated fair market value would be recorded and an impairment loss recognized.
Assets Held For Sale	Assets Held For Sale – The Company records assets as held for sale when management has committed to a plan to sell the assets, actively seeks a buyer for the assets, and the consummation of the sale is considered probable and is expected within one year.
Cash and Cash Equivalents	Cash and Cash Equivalents – We consider all highly liquid investments with an original maturity of three months or less to be cash equivalents.
Concentration of Credit Risk	Concentration of Credit Risk – We hold cash accounts at several institutions in excess of the Federal Deposit Insurance Corporation (the “FDIC”) protection limits of $250,000. Our exposure to credit loss in the event of the failure of these institutions is represented by the difference between the FDIC protection limit and the total amounts on deposit. Management monitors, on a regular basis, the financial condition of the financial institutions along with the balances there on deposit to minimize our potential risk.
Restricted Cash	Restricted Cash – Restricted cash includes real estate tax escrows, insurance escrows and reserves for replacements of furniture, fixtures and equipment pursuant to certain requirements in our various mortgage agreements.
Accounts Receivable	Accounts Receivable – Accounts receivable consists primarily of hotel guest, banqueting and credit card receivables. Ongoing evaluations of collectability are performed and an allowance for potential credit losses is provided against the portion of accounts receivable that is estimated to be uncollectible.
Inventories	Inventories – Inventories, consisting primarily of food and beverages, are stated at the lower of cost or net realizable value, with cost determined on a method that approximates first-in, first-out basis.
Franchise License Fees	Franchise License Fees – Fees expended to obtain or renew a franchise license are amortized over the life of the license or renewal. The unamortized franchise fees as of December 31, 2019 and 2018 were approximately $413,354 and $471,996, respectively. Amortization expense for the years ended December 31, 2019, 2018, and 2017 was $58,642, $60,073 and $46,209, respectively.
Deferred Financing and Offering Costs	Favorable Lease Assets, Net – Favorable lease assets are recorded on non-market contracts assumed as part of the acquisition of certain hotels. We review the terms of agreements assumed in conjunction with the purchase of a hotel to determine if the terms are favorable or unfavorable compared to an estimated market agreement at the acquisition date. Favorable lease assets are recorded at the acquisition date and amortized using straight-line method over the term of the remaining agreement. In conjunction with the adoption of ASU 2016-02, the favorable lease asset has been reclassified as a right-to-use asset on January 1, 2019. As of December 31, 2019, the approximate amount of the favorable lease asset is $2.1 million. Amortization expense for the twelve-month periods ended December 31, 2019, 2018 and 2017 totaled $ 379,295 , $316,080 and $0, respectively. Deferred Financing and Offering Costs – Deferred financing costs are recorded at cost and consist of loan fees and other costs incurred in issuing debt and are reflected in mortgage loans, net and unsecured notes, net on the consolidated balance sheets. Deferred offering costs are recorded at cost and consist of offering fees and other costs incurred in advance of issuing equity and are reflected in prepaid expenses, inventory and other assets on the consolidated balance sheets. Amortization of deferred financing costs is computed using a method that approximates the effective interest method over the term of the related debt and is included in interest expense in the consolidated statements of operations. Our deferred offering costs are applied pro-rata against the minimum anticipated proceeds of an equity offering. If the offering does not generate the minimum anticipated proceeds or is aborted then the excess will be included in corporate general and administrative expenses in the consolidated statements of operations. As of December 31, 2019 and 2018 there were no deferred offering costs included in prepaid expenses, inventory and other assets, respectively. During the twelve months ended December 31, 2017, the Company wrote off approximately $0.5 million of deferred offering costs.
Favorable Lease Assets, Net	Favorable Lease Assets, Net – Favorable lease assets are recorded on non-market contracts assumed as part of the acquisition of certain hotels. We review the terms of agreements assumed in conjunction with the purchase of a hotel to determine if the terms are favorable or unfavorable compared to an estimated market agreement at the acquisition date. Favorable lease assets are recorded at the acquisition date and amortized using straight-line method over the term of the remaining agreement. In conjunction with the adoption of ASU 2016-02, the favorable lease asset has been reclassified as a right-to-use asset on January 1, 2019. As of December 31, 2019, the approximate amount of the favorable lease asset is $2.1 million. Amortization expense for the twelve-month periods ended December 31, 2019, 2018 and 2017 totaled $ 379,295 , $316,080 and $0, respectively.
Derivative Instruments	Derivative Instruments – Our derivative instruments are reflected as assets or liabilities on the consolidated balance sheet and measured at fair value. Derivative instruments used to hedge the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as an interest rate risk, are considered fair value hedges. Derivative instruments used to hedge exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. For a derivative instrument designated as a cash flow hedge, the change in fair value each period is reported in accumulated other comprehensive income in stockholders’ equity and partners’ capital to the extent the hedge is effective. For a derivative instrument designated as a fair value hedge, the change in fair value each period is reported in earnings along with the change in fair value of the hedged item attributable to the risk being hedged. For a derivative instrument that does not qualify for hedge accounting or is not designated as a hedge, the change in fair value each period is reported in earnings. We use derivative instruments to add stability to interest expense and to manage our exposure to interest-rate movements. To accomplish this objective, we currently use interest rate caps and an interest rate swap which act as cash flow hedges and are not designated as hedges. We value our interest-rate caps and interest rate swap at fair value, which we define as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). We do not enter into contracts to purchase or sell derivative instruments for speculative trading purposes.
Fair Value Measurements	Fair Value Measurements – We classify the inputs used to measure fair value into the following hierarchy: Level 1 Unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 Unadjusted quoted prices in active markets for similar assets or liabilities, or unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs other than quoted prices that are observable for the asset or liability. Level 3 Unobservable inputs for the asset or liability. We endeavor to utilize the best available information in measuring fair value. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The following table represents our assets and liabilities measured at fair value and the basis for that measurement (our interest rate caps and interest rate swap are the only assets or liabilities measured at fair value on a recurring basis , there is one asset added during September 2019, valued at that time in the amount of $3,940,000 which is non-recurring, Level 1 Level 2 Level 3 December 31, 2018 Interest Rate Caps (1) $ — $ 94,697 $ — Interest Rate Swap (2) $ — $ (984,677 ) $ — Mortgage loans (3) $ — $ (357,279,949 ) $ — Unsecured notes (4) $ (25,390,000 ) $ — $ — December 31, 2019 Interest Rate Cap (1) $ — $ 4,504 $ — Interest Rate Swap (2) $ — $ (2,064,709 ) $ — Mortgage loans (3) $ — $ (363,229,617 ) $ — (1) Interest rate caps, which caps the 1-month LIBOR (2) Interest rate swap, which takes the Loan Rate and swaps it for a fixed interest rate of 5.237%; notional amounts of the swap approximate the declining balance of the loan. (3) Mortgage loans are reflected at carrying value on our Consolidated Balance Sheets as of December 31, 2019 and December 31, 2018. (4) Unsecured notes are recorded at historical cost on our Consolidated Balance Sheet as of December 31, 2018.
Noncontrolling Interest in Operating Partnership	Noncontrolling Interest in Operating Partnership – Certain hotel properties have been acquired, in part, by the Operating Partnership through the issuance of limited partnership units of the Operating Partnership. The noncontrolling interest in the Operating Partnership is: (i) increased or decreased by the limited partners’ pro-rata share of the Operating Partnership’s net income or net loss, respectively; (ii) decreased by distributions; (iii) decreased by redemption of partnership units for the Company’s common stock; and (iv) adjusted to equal the net equity of the Operating Partnership multiplied by the limited partners’ ownership percentage immediately after each issuance of units of the Operating Partnership and/or the Company’s common stock through an adjustment to additional paid-in capital. Net income or net loss is allocated to the noncontrolling interest in the Operating Partnership based on the weighted average percentage ownership throughout the period.
Revenue Recognition	Revenue Recognition – Revenue consists of amounts derived from hotel operations, including the sales of rooms, food and beverage, and other ancillary services. Room revenue is recognized over a customer's hotel stay. Revenue from food and beverage and other ancillary services is generated when a customer chooses to purchase goods or services separately from a hotel room and revenue is recognized on these distinct goods and services at the point in time or over the time period that goods or services are provided to the customer. Certain ancillary services are provided by third parties and the Company assesses whether it is the principal or agent in these arrangements. If the Company is the agent, revenue is recognized based upon the gross 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) shown on our consolidated balance sheets and recognized once the performance obligations are satisfied. Certain of the Company's hotels have retail spaces, restaurants or other spaces which the Company leases to third parties. Lease revenue is recognized on a straight-line basis over the life of the lease and included in other operating revenues in the Company's consolidated statements of operations. The Company collects sales, use, occupancy and similar taxes at its hotels which are presented on a net basis on the consolidated statements of operations. Accounts receivable primarily represents receivables from hotel guests who occupy hotel rooms and utilize hotel services. The Company maintains an allowance for doubtful accounts sufficient to cover estimated potential credit losses.
Lease Revenue	Lease Revenue – Several of our properties generate revenue from leasing commercial space adjacent to the hotel, the restaurant space within the hotel, apartment units and space on the roofs of our hotels for antennas and satellite dishes. We account for the lease income as revenue from other operating departments within the consolidated statement of operations pursuant to the terms of each lease. Lease revenue was $1,456,550, $1,638,408 and $1,780,525, for the years ended December 31, 2019, 2018, and 2017, respectively. A schedule of minimum future lease payments receivable for the following twelve-month periods is as follows: For the twelve months ending December 31, 2020 $ 1,458,366 December 31, 2021 1,433,413 December 31, 2022 1,362,728 December 31, 2023 1,363,899 December 31, 2024 1,370,777 December 31, 2025 and thereafter 8,081,449 Total $ 15,070,632
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. The MHI TRS Entities which leases our hotels from subsidiaries of the Operating Partnership, are subject to federal and state income taxes. We account for income taxes using the asset and liability method under which deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. At December 31, 2019, deferred tax assets total approximately $5.4 million, of which approximately $5.0 million relates to net operating losses of our TRS Lessees. 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 Lessees to subsidiaries of the Operating Partnership. We have determined that it is more-likely-than-not that we will be able to fully utilize our deferred tax assets for future tax consequences, therefore no valuation allowance is required. As of December 31, 2019, we had no uncertain tax positions. Our policy is to recognize interest and penalties related to uncertain tax positions in income tax expense. As of December 31, 2019, the tax years that remain subject to examination by the major tax jurisdictions to which the Company is subject generally include 2016 through 2018. In addition, as of December 31, 2019, the tax years that remain subject to examination by the major tax jurisdictions to which the MHI TRS Entities are subject, because of open NOL carryforwards, generally include 2014 through 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, permits the grant of stock options, restricted stock and performance share compensation awards to its employees and directors for up to 750,000 shares of common stock. The Company believes that stock awards align the interests of its employees with those of its stockholders. As of December 31, 2019, under the 2013 Plan, the Company has made cumulative stock awards totaling 176,350 shares, including 77,600 non-restricted shares to certain executives, directors and employees, and 98,750 restricted shares issued to its independent directors and one employee. All awards have vested except for 15,000 shares issued to one employee, which will vest over the next 3 years. Under the 2013 Plan, the Company may issue a variety of performance-based stock awards, including nonqualified stock options. The value of the awards is charged to compensation expense on a straight-line basis over the vesting or service period based on the value of the award as determined by the Company’s stock price on the date of grant or issuance. As of December 31, 2019, no performance-based stock awards have been granted. Consequently, stock-based compensation as determined under the fair-value method would be the same under the intrinsic-value method. Total stock-based compensation cost recognized under the 2013 Plan for the years ended December 31, 2019, 2018, and 2017 was $124,433, $135,428 and $109,080, respectively. Additionally, the Company sponsors and maintains an ESOP and related trust for the benefit of its eligible employees. We reflect unearned ESOP shares as a reduction of stockholders’ equity. Dividends on unearned ESOP shares, when paid, are considered compensation expense. The Company recognizes compensation expense equal to the fair value of the Company’s ESOP shares during the periods in which they are committed to be released. For the years ended December 31, 2019, 2018, and 2017 the ESOP compensation cost was $274,574, $253,370 and $238,307, respectively. To the extent that the fair value of the Company’s ESOP shares differs from the cost of such shares, the differential is recognized as additional paid in capital. Because the ESOP is internally leveraged through a loan from the Company to the ESOP, the loan receivable by the Company from the ESOP is not reported as an asset nor is the debt of the ESOP shown as a liability in the Company’s consolidated financial statements.
Advertising	Advertising – Advertising costs were $394,176, $432,754 and $357,379 for the years ended December 31, 2019, 2018, and 2017, respectively and are expensed as incurred.
Business Interruption Coverage	Business Interruption Proceeds – Insurance recoveries for business interruption were recognized during the years ended December 31, 2019, 2018 and 2017, for $0, approximately $0.8 million and $0.6 million, respectively. The events that resulted in the recovery for the year ending December 31, 2018, resulted from damage caused by Hurricane Florence at our property in Wilmington, North Carolina. Business interruption recoveries during the year ended December 31, 2017, were caused by an electrical outage at our property in Houston, Texas, by Hurricane Irma at our property in Tampa, Florida and by Hurricane Matthew at our property in Savannah, Georgia. The insurance proceeds were reflected in the statement of operations in other operating departments revenues.
Involuntary Conversion of Assets	Involuntary Conversion of Assets – We record gains or losses on involuntary conversions of assets due to recovered insurance proceeds to the extent the undepreciated cost of a nonmonetary asset differs from the amount of monetary proceeds received. During the years ending December 31, 2019, 2018, and 2017, we recognized approximately $0.3 million, approximately $0.9 million and $2.2, respectively, for gain on involuntary conversion of assets, which is reflected in the consolidated statements of operations.
Comprehensive Income (Loss)	Comprehensive Income (Loss) – Comprehensive income (loss), as defined, includes all changes in equity (net assets) during a period from non-owner sources. We do not have any items of comprehensive income (loss) other than net income (loss).
Segment Information	Segment Information – We have determined that our business is conducted in one reportable segment: hotel ownership.
Use of Estimates	Use of Estimates – The preparation of the financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
New Accounting Pronouncements	New Accounting Pronouncements – In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) . The FASB issued this ASU to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet by lessees for those leases classified as operating leases under current GAAP and disclosing key information about leasing arrangements. The amendments in this ASU were effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2018. Early application of this ASU was permitted for all entities. In July 2018, considering the renewal period, 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. 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. We adopted these ASUs as of January 1, 2019. The right of use assets and corresponding liabilities were recorded in the amount of approximately $2.0 million and $5.0 million, respectively as of January 1, 2019 .

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 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 , there is one asset added during September 2019, valued at that time in the amount of $3,940,000 which is non-recurring, Level 1 Level 2 Level 3 December 31, 2018 Interest Rate Caps (1) $ — $ 94,697 $ — Interest Rate Swap (2) $ — $ (984,677 ) $ — Mortgage loans (3) $ — $ (357,279,949 ) $ — Unsecured notes (4) $ (25,390,000 ) $ — $ — December 31, 2019 Interest Rate Cap (1) $ — $ 4,504 $ — Interest Rate Swap (2) $ — $ (2,064,709 ) $ — Mortgage loans (3) $ — $ (363,229,617 ) $ — (1) Interest rate caps, which caps the 1-month LIBOR (2) Interest rate swap, which takes the Loan Rate and swaps it for a fixed interest rate of 5.237%; notional amounts of the swap approximate the declining balance of the loan. (3) Mortgage loans are reflected at carrying value on our Consolidated Balance Sheets as of December 31, 2019 and December 31, 2018. (4) Unsecured notes are recorded at historical cost on our Consolidated Balance Sheet as of December 31, 2018.
Schedule of Minimum Future Lease Payments Receivable	A schedule of minimum future lease payments receivable for the following twelve-month periods is as follows: For the twelve months ending December 31, 2020 $ 1,458,366 December 31, 2021 1,433,413 December 31, 2022 1,362,728 December 31, 2023 1,363,899 December 31, 2024 1,370,777 December 31, 2025 and thereafter 8,081,449 Total $ 15,070,632

Acquisition of Hotel Properti_2

Acquisition of Hotel Properties (Tables)	12 Months Ended
	Dec. 31, 2019
Business Combinations And Or Asset Acquisitions [Abstract]
Allocation of Purchase Price Based on Fair Values	The allocation of the purchase price based on their fair values was as follows: Hyatt Centric Arlington Hyde Beach House Land and land improvements $ 190,916 $ 500 Buildings and improvements 70,369,046 5,564,219 Furniture, fixtures and equipment 6,229,888 347,621 Favorable lease and other intangible assets 3,054,812 — Investment in hotel properties 79,844,662 5,912,340 Accrued liabilities and other costs (111,946 ) — Prepaid expenses, inventory and other assets — 434,038 Net cash $ 79,732,716 $ 6,346,378

Investment in Hotel Propertie_2

Investment in Hotel Properties, Net (Tables)	12 Months Ended
	Dec. 31, 2019
Real Estate [Abstract]
Schedule of Investment in Hotel Properties, Net	Investment in hotel properties as of December 31, 2019 and 2018 consisted of the following: December 31, 2019 December 31, 2018 Land and land improvements $ 66,031,443 $ 64,409,730 Buildings and improvements 438,268,174 424,657,327 Right of use assets 6,452,259 — Furniture, fixtures and equipment 55,392,434 57,830,987 566,144,310 546,898,044 Less: accumulated depreciation and impairment (122,876,862 ) (111,172,230 ) Investment in Hotel Properties, Net $ 443,267,448 $ 435,725,814

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 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 December 31, December 31, Prepayment Maturity Amortization Interest Property 2019 2018 Penalties Date Provisions Rate The DeSoto (1) $ 32,967,166 $ 33,824,350 Yes 7/1/2026 25 years 4.25% DoubleTree by Hilton Jacksonville Riverfront (2) 34,225,971 34,773,546 Yes 7/11/2024 30 years 4.88% DoubleTree by Hilton Laurel (3) 8,534,892 8,845,299 Yes 8/5/2021 25 years 5.25% DoubleTree by Hilton Philadelphia Airport (4) 41,419,590 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) 56,057,218 57,064,824 (6) 10/1/2025 30 years 4.913% Georgian Terrace (7) 43,335,291 44,202,968 (7) 6/1/2025 30 years 4.42% Hotel Alba Tampa, Tapestry Collection by Hilton (8) 18,000,104 18,307,000 None 6/30/2022 (8) LIBOR plus 3.75 % Hotel Ballast Wilmington, Tapestry Collection by Hilton (9) 33,401,622 34,236,104 Yes 1/1/2027 25 years 4.25% Hyatt Centric Arlington (10) 49,173,836 49,885,045 Yes 9/18/2028 30 years 5.25% Sheraton Louisville Riverside (11) 11,114,145 11,414,300 Yes 12/1/2026 25 years 4.27% The Whitehall (12) 14,450,420 14,733,458 Yes 2/26/2023 25 years LIBOR plus 3.50 % Total Mortgage Principal Balance $ 360,980,255 $ 367,613,880 Deferred financing costs, net (2,487,982 ) (2,951,327 ) Unamortized premium on loan 141,611 166,292 Total Mortgage Loans, Net $ 358,633,884 $ 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 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 the 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, without respect to any extension of loan maturity, as of December 31, 2019 were as follows: For the twelve months ending December 31, 2020 $ 6,614,133 December 31, 2021 14,818,983 December 31, 2022 42,247,091 December 31, 2023 59,831,665 December 31, 2024 37,643,946 December 31, 2025 and thereafter 199,824,437 Total future maturities $ 360,980,255

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2019
Commitments And Contingencies Disclosure [Abstract]
Schedule of Minimum Future Lease Payments	A schedule of minimum future lease payments for the following twelve-month periods is as follows: 2020 2019 For the twelve months ending December 31, $ 488,804 $ 364,163 December 31, 2021 469,811 354,639 December 31, 2022 425,735 351,464 December 31, 2023 386,682 351,464 December 31, 2024 386,682 351,464 December 31, 2025 and thereafter 12,045,965 3,217,237 Total $ 14,203,679 $ 4,990,431

Preferred Stock and Units (Tabl

Preferred Stock and Units (Tables)	12 Months Ended
	Dec. 31, 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 Quarterly Annum Liquidation Issued and Outstanding as of Distributions Preferred Stock - Series Rate Preference December 31, 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 1,554,610 1,352,141 $ 0.492188 Series D Preferred Stock 8.250 % $25.00 1,200,000 - $ 0.515625
Schedule of Series of Cumulative Redeemable Perpetual Preferred Units	The following table sets forth our Cumulative Redeemable Perpetual Preferred Units by series: Per Number of Units Quarterly Annum Liquidation Issued and Outstanding as of Distributions Preferred Units - Series Rate Preference December 31, 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 1,554,610 1,352,141 $ 0.492188 Series D Preferred Units 8.250 % $25.00 1,200,000 - $ 0.515625
Quarterly Distributions Declared and Payable by Operating Partnership	The following table presents the quarterly distributions by the Operating Partnership declared and payable per Quarter Ended 2017 2018 2019 March 31, $ 0.500000 $ 0.500000 $ 0.500000 June 30, $ 0.500000 $ 0.500000 $ 0.500000 September 30, $ 0.500000 $ 0.500000 $ 0.500000 December 31, $ 0.500000 $ 0.500000 $ 0.500000 The following table presents the quarterly distributions by the Operating Partnership declared and payable per Series C Preferred Unit and dividends by the Company declared and payable per share of Series C Preferred Stock, for the years ended December 31, 2019, 2018, and 2017: Quarter Ended 2017 2018 2019 March 31, $ — $ 0.492188 $ 0.492188 June 30, $ — $ 0.492188 $ 0.492188 September 30, $ — $ 0.492188 $ 0.492188 December 31, $ 0.432030 (1) $ 0.492188 $ 0.492188 (1) (1) For the short period from October 11, 2017 to December 31, 2017. The following table presents the quarterly distributions by the Operating Partnership declared and payable per Series D Preferred Unit and dividends by the Company declared and payable per share of Series D Preferred Stock, for the years ended December 31, 2019, 2018, and 2017: Quarter Ended 2017 2018 2019 March 31, $ — $ — $ — June 30, $ — $ — $ 0.418230 (2) September 30, $ — $ — $ 0.515625 December 31, $ — $ — $ 0.515625 (2) The initial quarterly 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.

Common Stock and Units (Tables)

Common Stock and Units (Tables)	12 Months Ended
	Dec. 31, 2019
Equity [Abstract]
Quarterly Stock Dividends and Unit Distributions Declared and Payable Per Common Stock/Unit	Common Stock Dividends and Unit Distributions – The following table presents the quarterly stock dividends and unit distributions by us declared and payable per common stock/unit for the years ended December 31, 2019, 2018, and 2017: Quarter Ended 2017 2018 2019 March 31, $ 0.100 $ 0.115 $ 0.125 June 30, $ 0.105 $ 0.120 $ 0.130 September 30, $ 0.110 $ 0.125 $ 0.130 December 31, $ 0.110 $ 0.125 $ 0.130

Retirement Plans (Tables)

Retirement Plans (Tables)	12 Months Ended
	Dec. 31, 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 December 31, 2019 December 31, 2018 Number of Shares Fair Value Number of Shares Fair Value Allocated shares 66,295 $ 449,480 33,832 $ 189,798 Committed to be released shares 38,377 260,196 35,474 199,007 Total Allocated and Committed-to-be-Released 104,672 $ 709,676 69,306 $ 388,805 Unallocated shares 574,816 3,897,252 613,194 3,440,020 Total ESOP Shares 679,488 $ 4,606,928 682,500 $ 3,828,825

Indirect Hotel Operating Expe_2

Indirect Hotel Operating Expenses (Tables)	12 Months Ended
	Dec. 31, 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: 2019 2018 2017 Sales and marketing $ 16,857,613 $ 15,998,281 $ 13,843,578 General and administrative 15,401,458 14,581,707 12,949,596 Repairs and maintenance 7,939,836 7,624,031 6,828,963 Utilities 6,282,218 6,266,192 5,820,589 Property taxes 7,044,085 6,225,508 5,729,464 Management fees, including incentive 5,259,194 4,785,702 4,170,977 Franchise fees 4,706,459 4,308,065 3,877,231 Insurance 3,303,366 2,894,708 2,446,269 Information and telecommunications 2,558,489 2,142,698 1,647,728 Other 1,042,915 818,608 297,808 Total indirect hotel operating expenses $ 70,395,633 $ 65,645,500 $ 57,612,203

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Components of Income Tax (Benefit) Provision	The components of the provision for (benefit from) income taxes for the years ended December 31, 2019, 2018, and 2017 are as follows: Year Ended Year Ended Year Ended December 31, 2019 December 31, 2018 December 31, 2017 Current: Federal $ (125,587 ) $ — $ — State 157,012 149,410 239,582 31,425 149,410 239,582 Deferred: Federal (244,360 ) 351,663 1,661,153 State (36,545 ) (31,724 ) (162,931 ) (280,905 ) 319,939 1,498,222 $ (249,480 ) $ 469,349 $ 1,737,804
Reconciliation of Statutory Federal Income Tax Provision (Benefit)	A reconciliation of the statutory federal income tax provision (benefit) to the Company’s provision for (benefit from) income tax is as follows: Year Ended Year Ended Year Ended December 31, 2019 December 31, 2018 December 31, 2017 Statutory federal income tax provision $ 194,479 $ (29,150 ) $ 600,880 Effect of non-taxable REIT loss (564,426 ) 380,813 (1,621,526 ) Effect of change in federal income tax rate on net deferred tax assets - - 2,681,800 State income tax provision 120,467 117,686 76,650 $ (249,480 ) $ 469,349 $ 1,737,804

Loss per Share and per Unit (Ta

Loss per Share and per Unit (Tables)	12 Months Ended
	Dec. 31, 2019
Earnings Per Share [Abstract]
Computation of Basic Net Loss Per Share	The computation of basic net loss per share is presented below. Year Ended Year Ended Year Ended December 31, 2019 December 31, 2018 December 31, 2017 Numerator Net loss available to common stockholders for basic computation $ (5,911,251 ) $ (5,719,978 ) $ (3,339,136 ) Denominator Weighted average number of common shares outstanding 14,233,513 14,145,838 14,445,865 Weighted average number of Unearned ESOP Shares (590,940 ) (628,350 ) (616,765 ) Total weighted average number of common shares outstanding for basic computation 13,642,573 13,517,488 13,829,100 Basic net loss per share $ (0.43 ) $ (0.42 ) $ (0.24 )
Computation of Basic Loss Per Unit	Loss Per Unit . The computation of basic loss per unit is presented below. Year Ended Year Ended Year Ended December 31, 2019 December 31, 2018 December 31, 2017 Numerator Net loss available to general and limited partnership unitholders for basic computation $ (6,645,127 ) $ (6,438,071 ) $ (3,752,150 ) Denominator Weighted average number of general and limited partnership units outstanding 16,011,653 15,923,978 16,224,005 Basic net loss per general and limited partnership unit $ (0.42 ) $ (0.40 ) $ (0.23 )

Quarterly Operating Results -_2

Quarterly Operating Results - Unaudited (Tables)	12 Months Ended
	Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
Quarterly Operating Results	Quarters Ended 2019 March 31 June 30 September 30 December 31 Total revenue $ 47,390,304 $ 51,540,701 $ 42,552,175 $ 44,304,953 Total operating expenses 41,927,258 42,653,243 40,402,009 42,459,108 Net operating income 5,463,046 8,887,458 2,150,166 1,845,845 Net income (loss) (390,205 ) 1,149,315 2,068,746 (1,652,288 ) Net income (loss) attributable to common shareholders (1,653,763 ) (731,711 ) (106,827 ) (3,418,950 ) Earnings (loss) per share attributable to common shareholders– basic and diluted $ (0.12 ) $ (0.05 ) $ (0.01 ) $ (0.25 ) Net income (loss) available to operating partnership unitholders (1,860,712 ) (823,067 ) (120,164 ) (3,841,184 ) Earnings (loss) per unit attributable to operating partnership unitholders– basic and diluted $ (0.12 ) $ (0.05 ) $ (0.01 ) $ (0.23 ) Quarters Ended 2018 March 31 June 30 September 30 December 31 Total revenue $ 41,735,556 $ 51,553,527 $ 41,418,062 $ 43,465,976 Total operating expenses 37,041,269 42,275,569 38,298,919 40,451,053 Net operating income 4,694,287 9,277,958 3,119,143 3,014,923 Net income(loss) 1,176,488 2,967,589 (1,981,780 ) (2,770,453 ) Net income (loss) attributable to common shareholders (238,343 ) 1,352,414 (3,065,883 ) (3,768,166 ) Earnings (loss) per share attributable to common shareholders– basic and diluted $ (0.02 ) $ 0.10 $ (0.23 ) $ (0.28 ) Net income (loss) available to operating partnership unitholders (268,356 ) 1,522,745 (3,451,499 ) (4,240,961 ) Earnings (loss) per unit attributable to operating partnership unitholders– basic and diluted $ (0.02 ) $ 0.10 $ (0.22 ) $ (0.27 )

Organization and Description _2

Organization and Description of Business - Additional Information (Detail)

Jan. 01, 2020Hotel

Dec. 13, 2019

Sep. 26, 2019USD ($)ft²HotelParkingSpaces

Sep. 06, 2019Hotel

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 ($)

Nov. 15, 2017USD ($)

Oct. 17, 2017USD ($)shares

Oct. 11, 2017USD ($)shares

Jun. 29, 2017USD ($)

Jun. 01, 2017USD ($)

Feb. 07, 2017USD ($)

Jan. 30, 2017USD ($)RoomParkingSpaces

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

Dec. 31, 2019USD ($)ft²HotelRoom$ / sharesshares

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

Dec. 31, 2017USD ($)

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

Rooms in hotel | Room

3,156

Date of commencement of business

Dec. 21, 2004

Number of hotels acquired before commencement of business | Hotel

6

Mortgage loans

$ 367,613,880

$ 360,980,255

$ 367,613,880

Proceeds from sale of preferred stock

$ 33,066,665

1,005,063

$ 30,488,660

Proceeds from sale and issuance of unsecured notes

$ 25,000,000

Loan rate swapped for fixed interest rate

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

Common Stock [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Stock issued during period | shares

88,297

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%

7.0% Senior Unsecured Notes [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Debt instrument redeemed, principal amount

$ 25,300,000

Interest rate

7.00%

Debt instrument redeemed date

Nov. 15, 2017

Percentage of redemption price equal to principal amount

101.00%

7.25% Senior Unsecured Notes due 2021 [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Debt instrument maturity date

Feb. 15, 2021

Debt instrument redeemed, principal amount

$ 25,000,000

Interest rate

7.25%

7.25%

Debt instrument redeemed date

May 20, 2019

May 20, 2019

Percentage of redemption price equal to principal amount

101.00%

Proceeds from sale and issuance of unsecured notes

$ 25,000,000

Proceeds from unsecured notes net of estimated expenses

23,300,000

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Preferred stock, shares sale and issuance | shares

100,000

1,200,000

Preferred stock, dividend rate percentage

7.875%

Proceeds from sale of preferred stock

$ 2,500,000

$ 28,000,000

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Preferred stock, shares sale and issuance | shares

120,000

1,080,000

Preferred stock, dividend rate percentage

8.25%

Proceeds from sale of preferred stock

$ 28,400,000

Gross proceeds before underwriting discounts and commissions and expenses

$ 3,000,000

$ 27,000,000

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

Aggregate gross sale price of common stock

$ 5,000,000

Preferred stock, par value | $ / shares

$ 0.01

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Common stock, par value | $ / shares

$ 0.01

Aggregate gross sale price of common stock

$ 5,000,000

Stock issued during period | shares

88,297

88,297

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Preferred stock, dividend rate percentage

7.875%

Preferred stock, shares authorized | shares

400,000

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Stock issued during period | shares

52,141

Aggregate net price of common stock and redeemable preferred stock

$ 1,800,000

Newport Hospitality Group, Inc., and Our Town Hospitality LLC [Member] | Master Agreement

Organization Consolidation and Presentation of Financial Statements [Line Items]

Agreement commencement date

Sep. 6, 2019

Number of hotels | Hotel

10

Agreement termination date

Jan. 1, 2020

Number of wholly-owned hotels expired | Hotel

10

Town Pursuant [Member] | Sublease Agreement [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Agreement commencement date

Dec. 13, 2019

Area of office space subleased | ft²

2,245

Town Pursuant [Member] | Sublease Agreement [Member] | Maximum [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Working capital line of credit

$ 850,000

Double Tree by Hilton Jacksonville Riverfront [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Aggregate purchase price

$ 3,500,000

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Mortgage loans

$ 34,773,546

$ 34,225,971

34,773,546

Debt instrument maturity date

Jul. 11, 2024

Amortization Period

30 years

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Mortgage loans

$ 35,500,000

Debt instrument maturity date

Jul. 11, 2024

Fixed interest rate

4.88%

Amortization Period

30 years

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Mortgage loans

34,236,104

$ 33,401,622

34,236,104

Debt instrument maturity date

Jan. 1, 2027

Amortization Period

25 years

Additional proceeds on mortgage loan

$ 5,000,000

The Whitehall [Member] | Mortgage Loans [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Mortgage loans

14,733,458

$ 14,450,420

14,733,458

Debt instrument maturity date

Feb. 26, 2023

Fixed interest rate

4.00%

Amortization Period

25 years

25 years

Extended maturity date

Feb. 26, 2023

Floating rate of interest rate

3.50%

Floating interest rate period

1 month

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Mortgage loans

18,300,000

$ 18,300,000

18,300,000

Debt instrument maturity date

Jul. 27, 2022

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

Debt instrument prepayment lockout period

12 months

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%

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] | MetLife Commercial Mortgage Originator, LLC [Member] | LIBOR [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Floating rate of interest rate

4.00%

Interest rate cap for loan

3.25%

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Debt instrument maturity date

Jul. 31, 2023

Amortization Period

30 years

Mortgage loans

$ 42,200,000

$ 30,000,000

Swap agreement term

5 years

Loan rate swapped for fixed interest rate

5.237%

Debt instrument, description

Pursuant to the amended loan documents: (i) the principal balance of the loan was increased from approximately $30.0 million to $42.2 million; (ii) the loan’s maturity date was extended to July 31, 2023; (iii) the loan bears a floating interest rate equal to the 1-month LIBOR rate plus 2.27%; (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]

Mortgage loans

42,026,986

$ 41,419,590

42,026,986

Debt instrument maturity date

Jul. 31, 2023

Amortization Period

30 years

Floating rate of interest rate

2.27%

Floating interest rate period

1 month

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Mortgage loans

$ 57,064,824

$ 56,057,218

$ 57,064,824

Debt instrument maturity date

Oct. 1, 2025

Amortization Period

30 years

Crowne Plaza Hampton Marina [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Proceeds from sale of assets

$ 5,600,000

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Debt instrument maturity date

Jun. 30, 2022

Amortization Period

25 years

Mortgage loans

$ 18,200,000

Extended maturity period

two additional periods of one year each

Period subject to certain terms and conditions

2 years

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

Our Town Hospitality [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Number of wholly-owned hotels operated under master management agreement | Hotel

10

Area of office space subleased | ft²

2,245

Our Town Hospitality [Member] | Maximum [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Working capital line of credit

$ 850,000

Operating Partnership [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Percentage of operating partnership owned

89.20%

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Investment in number of hotels | Hotel

2

Commercial Unit of Hyde Resort & Residences [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Rooms in hotel | Room

400

Hotel property aggregate purchase price

$ 4,800,000

Number of parking space lease agreement entered | ParkingSpaces

400

Proceeds from pre-opening services fee

$ 800,000

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Hotel property aggregate purchase price

$ 5,100,000

Pre-opening services fee receivable

$ 800,000

Hyatt Centric Arlington [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Rooms in hotel | Room

318

Hotel property aggregate purchase price

$ 79,700,000

Mortgage loans

$ 57,000,000

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Initial 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

2035

Number of additional renewal periods extended under ground lease | RenewalPeriod

4

Duration period under ground lease for each renewal periods extended

10 years

Ground lease rent reset date

2025-06

Ground lease fixed percentage of rent in land value per annum

8.00%

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

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Floating rate of interest rate

3.00%

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Mortgage loans

$ 7,000,000

Debt instrument maturity term

1 year

Extended maturity period

two 1-year

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Monthly principal payments

$ 100,000

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Monthly principal payments

150,000

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Monthly principal payments

$ 250,000

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Floating rate of interest rate

5.00%

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Interest rate

7.25%

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Amortization Period

30 years

Interest rate

5.25%

Mortgage loans

$ 50,000,000

Initial 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

Hyde Beach House [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Number of hotels acquired before commencement of business | Hotel

2

Hotel property aggregate purchase price

$ 5,400,000

Number of newly constructed unit | Hotel

342

Additional consideration

$ 700,000

Pre-opening services fee

$ 1,000,000

Hyde Beach House [Member] | Management Agreement for Parking Garage and Poolside [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Initial term of agreement

20 years

Hyde Beach House [Member] | Management Agreement Relating to the Operation and Management [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Initial term of agreement

20 years

Hyde Beach House [Member] | DoubleTree Resort by Hilton Hollywood Beach [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Area of real estate property | ft²

3,000

Number of dedicated parking spaces | ParkingSpaces

200

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2019USD ($)Segmentshares	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Jan. 01, 2019USD ($)
Summary Of Significant Accounting Policies [Line Items]
Federal Deposit Insurance Corporation protection limits	$ 250,000
Un-amortized franchise fees	413,354	$ 471,996
Amortization expense	58,642	60,073	$ 46,209
Favorable lease assets	2,100,000
Amortization expense on favorable lease assets, net	379,295	316,080	0
Deferred offering costs write off			500,000
Deferred offering costs included in prepaid expenses, inventory and other assets	0	0
Non recurring asset	3,940,000
Deferred income taxes	5,412,084	5,131,179
Deferred tax assets related to net operating losses	$ 5,000,000
Minimum percentage of likelihood of realization of deferred tax assets	50.00%
Deferred tax assets valuation allowance	$ 0
Uncertain tax positions	0
Compensation cost recognized	385,561	379,153	347,387
Advertising cost	394,176	432,754	357,379
Gain on involuntary conversion of assets	$ 293,534	917,767	2,242,876
Number of reportable segment | Segment	1
ASU 2018-11 [Member]
Summary Of Significant Accounting Policies [Line Items]
Operating Lease, right of use assets, net				$ 2,000,000
Operating lease obligations				$ 5,000,000
Other Operating Departments Revenue [Member] | Hurricane [Member] | Houston, Texas and Tampa, Florida [Member]
Summary Of Significant Accounting Policies [Line Items]
Insurance recoveries from business interruption	$ 0	800,000	600,000
ESOP [Member]
Summary Of Significant Accounting Policies [Line Items]
Compensation cost recognized	$ 274,574	253,370	238,307
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	$ 124,433	135,428	109,080
2013 Plan [Member] | Executives, Directors and Employees [Member]
Summary Of Significant Accounting Policies [Line Items]
Shares issued under plan | shares	77,600
2013 Plan [Member] | Director and One Employee [Member]
Summary Of Significant Accounting Policies [Line Items]
Shares issued under plan | shares	98,750
2013 Plan [Member] | One Employee [Member]
Summary Of Significant Accounting Policies [Line Items]
Stock award vesting period	3 years
Shares issued but not vested | shares	15,000
Other Operating Departments [Member]
Summary Of Significant Accounting Policies [Line Items]
Lease revenue	$ 1,456,550	$ 1,638,408	$ 1,780,525
Maximum [Member] | 2013 Plan [Member] | Employees and Directors [Member]
Summary Of Significant Accounting Policies [Line Items]
Restricted and performance stock awards permitted to grant to employees and directors | shares	750,000
Buildings and Building Improvements [Member] | Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Estimated useful lives of the assets	7 years
Buildings and Building Improvements [Member] | Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Estimated useful lives of the assets	39 years
Furniture, Fixtures and Equipment [Member] | Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Estimated useful lives of the assets	3 years
Furniture, Fixtures and Equipment [Member] | Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Estimated useful lives of the assets	10 years

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Schedule of Recurring Assets and Liabilities Measured at Fair Value (Detail) - USD ($)	Dec. 31, 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	$ 4,504	94,697
Level 2 [Member] | Interest Rate Swap [Member]
Derivatives Fair Value [Line Items]
Interest rate cap	(2,064,709)	(984,677)
Level 2 [Member] | Mortgage Loans [Member]
Derivatives Fair Value [Line Items]
Debt instruments measured at fair value	$ (363,229,617)	$ (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)	Dec. 31, 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)	Dec. 31, 2019USD ($)
Leases [Abstract]
For the twelve months ending December 31, 2020	$ 1,458,366
December 31, 2021	1,433,413
December 31, 2022	1,362,728
December 31, 2023	1,363,899
December 31, 2024	1,370,777
December 31, 2025 and thereafter	8,081,449
Total	$ 15,070,632

Acquisition of Hotel Properti_3

Acquisition of Hotel Properties - Additional Information (Detail) - USD ($)	Sep. 26, 2019	Mar. 01, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Commercial Condominium Unit of Hyde Resort & Residences [Member]
Business Acquisition [Line Items]
Fair value of consideration	$ 6,300,000
Total revenue from acquisitions			$ 1,200,000			$ 0
Net income (loss) from acquisitions			$ (600,000)
Hyatt Centric Arlington [Member]
Business Acquisition [Line Items]
Fair value of consideration		$ 79,700,000
Initial purchase price		$ 81,000,000
Total revenue from acquisitions				$ 18,100,000	$ 21,200,000
Net income (loss) from acquisitions				$ 800,000	$ (1,100,000)

Acquisition of Hotel Properti_4

Acquisition of Hotel Properties - Allocation of Purchase Price Based on Fair Values (Detail) - USD ($)	Sep. 26, 2019	Mar. 01, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Business Acquisition [Line Items]
Net cash			$ 6,346,378	$ 79,732,716	$ 3,986,849
Hyatt Centric Arlington [Member]
Business Acquisition [Line Items]
Land and land improvements		$ 190,916
Buildings and improvements		70,369,046
Furniture, fixtures and equipment		6,229,888
Favorable lease and other intangible assets		3,054,812
Investment in hotel properties		79,844,662
Accrued liabilities and other costs		(111,946)
Net cash		$ 79,732,716
Commercial Condominium Unit of Hyde Resort & Residences [Member]
Business Acquisition [Line Items]
Land and land improvements	$ 500
Buildings and improvements	5,564,219
Furniture, fixtures and equipment	347,621
Investment in hotel properties	5,912,340
Prepaid expenses, inventory and other assets	434,038
Net cash	$ 6,346,378

Investment in Hotel Propertie_3

Investment in Hotel Properties, Net - Schedule of Investment in Hotel Properties, Net (Detail) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Investment in Hotel Properties, Gross	$ 566,144,310	$ 546,898,044
Less: accumulated depreciation and impairment	(122,876,862)	(111,172,230)
Investment in Hotel Properties, Net	443,267,448	435,725,814
Land and Land Improvements [Member]
Property, Plant and Equipment [Line Items]
Investment in Hotel Properties, Gross	66,031,443	64,409,730
Buildings and Improvements [Member]
Property, Plant and Equipment [Line Items]
Investment in Hotel Properties, Gross	438,268,174	424,657,327
Right of Use Assets [Member]
Property, Plant and Equipment [Line Items]
Investment in Hotel Properties, Gross	6,452,259
Furniture, Fixtures and Equipment [Member]
Property, Plant and Equipment [Line Items]
Investment in Hotel Properties, Gross	$ 55,392,434	$ 57,830,987

Investment in Hotel Propertie_4

Investment in Hotel Properties, Net - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Property Plant And Equipment Capitalized Interest Costs [Abstract]
Impairment of hotel properties	$ 0	$ 0

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($) $ in Thousands	May 20, 2019	Feb. 12, 2018	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Mortgage loan outstanding balance			$ 358,600	$ 364,800
Cash collateral to lender			2,850
Additional cash collateral for mortgage loan			$ 3,650
7.25% Senior Unsecured Notes due 2021 [Member]
Debt Instrument [Line Items]
Interest rate on loan	7.25%	7.25%
Borrowed amount		$ 25,000
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	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Mortgage loans		$ 360,980,255	$ 367,613,880
Deferred financing costs, net		(2,487,982)	(2,951,327)
Unamortized premium on loan		141,611	166,292
Total Mortgage Loans, Net		358,633,884	364,828,845
The DeSoto [Member] | Mortgage Loans [Member]
Debt Instrument [Line Items]
Mortgage loans		$ 32,967,166	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		$ 34,225,971	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		$ 8,534,892	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		$ 41,419,590	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		$ 56,057,218	57,064,824
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		$ 43,335,291	44,202,968
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		$ 18,000,104	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		$ 33,401,622	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		$ 49,173,836	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		$ 11,114,145	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		$ 14,450,420	$ 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	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Loan rate swapped for fixed interest rate		5.237%
Proceeds of mortgage debt			$ 175,800,000	$ 40,500,000
Minimum [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Interest rate cap for loan		2.50%	2.50%
Maximum [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Interest rate cap for loan		3.25%	3.25%
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 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] | Minimum [Member]
Debt Instrument [Line Items]
Debt instrument prepayment penalty period		6 years
Mortgage Loans [Member] | Hyatt Centric Arlington [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt instrument prepayment penalty period		10 years
Mortgage Loans [Member] | Sheraton Louisville Riverside [Member]
Debt Instrument [Line Items]
Amortization Period		25 years
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 ($)	Dec. 31, 2019	Dec. 31, 2018
Debt Disclosure [Abstract]
For the twelve months ending December 31, 2020	$ 6,614,133
December 31, 2021	14,818,983
December 31, 2022	42,247,091
December 31, 2023	59,831,665
December 31, 2024	37,643,946
December 31, 2025 and thereafter	199,824,437
Total future maturities	$ 360,980,255	$ 367,613,880

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail)	Sep. 26, 2019USD ($)RenewalPeriod	Mar. 01, 2018USD ($)RenewalPeriod	Dec. 31, 2019USD ($)ft²Hotel	Feb. 28, 2017USD ($)shares	Dec. 31, 2019USD ($)ft²Hotelshares	Dec. 31, 2018USD ($)shares	Dec. 31, 2017USD ($)shares	Dec. 29, 2016USD ($)
Operating Leased Assets [Line Items]
Maximum amount allocated to purchase common stock under ESOP								$ 5,000,000
Number of common stock, shares purchased | shares				682,500	0	0	682,500
Purchased common stock, value				$ 4,900,000			$ 4,874,758
Crowne Plaza Houston Downtown [Member]
Operating Leased Assets [Line Items]
Franchise agreement expiry date					2016-04
Hilton Savannah DeSoto [Member]
Operating Leased Assets [Line Items]
Franchise agreement expiry date					2017-07
Hotel Ballast Wilmington,Tapestry Collection by Hilton [Member]
Operating Leased Assets [Line Items]
Monthly contribution of room revenues					4.00%
Restricted cash reserve					Amount equal to 1 / 12 of the annual real estate taxes due for the properties
The DeSoto [Member]
Operating Leased Assets [Line Items]
Monthly contribution of room revenues					4.00%
Restricted cash reserve					Amount equal to 1 / 12 of the annual real estate taxes due for the properties
DoubleTree by Hilton Brownstone-University [Member]
Operating Leased Assets [Line Items]
Monthly contribution of room revenues					4.00%
Restricted cash reserve					Amount equal to 1 / 12 of the annual real estate taxes due for the properties
Double Tree by Hilton Jacksonville Riverside [Member]
Operating Leased Assets [Line Items]
Monthly contribution of room revenues					4.00%
Restricted cash reserve					Amount equal to 1 / 12 of the annual real estate taxes due for the properties
DoubleTree Resort by Hilton Hollywood Beach [Member]
Operating Leased Assets [Line Items]
Monthly contribution of room revenues					4.00%
Restricted cash reserve					Amount equal to 1 / 12 of the annual real estate taxes due for the properties
Whitehall [Member]
Operating Leased Assets [Line Items]
Monthly contribution of room revenues					4.00%
Georgian Terrace [Member]
Operating Leased Assets [Line Items]
Monthly contribution of room revenues					4.00%
Restricted cash reserve					Amount equal to 1 / 12 of the annual real estate taxes due for the properties
Double Tree By Hilton Philadelphia Airport [Member]
Operating Leased Assets [Line Items]
Monthly contribution of room revenues					4.00%
Minimum [Member]
Operating Leased Assets [Line Items]
Franchise fees of room revenues					3.00%
Additional fees of gross revenues from the hotels					3.00%
Franchise agreement expiry date					2019-06
Maximum [Member]
Operating Leased Assets [Line Items]
Franchise fees of room revenues					5.00%
Additional fees of gross revenues from the hotels					4.00%
Franchise agreement expiry date					2030-10
Maximum [Member] | ESOP [Member]
Operating Leased Assets [Line Items]
Borrowed amount								$ 5,000,000
Highgate Hotels L.P [Member]
Operating Leased Assets [Line Items]
Initial terms of master management agreements					3 years
Master management agreement expiration date					Mar. 1, 2021
Chesapeake Hospitality [Member]
Operating Leased Assets [Line Items]
Initial term of agreement					5 years
Master management agreement expiration date					Jan. 1, 2020
Number of wholly-owned hotels operated under master management agreement | Hotel			11		11
Expiry date of master management agreement					The management agreements for ten of those wholly-owned hotels expired on January 1, 2020
Chesapeake Hospitality [Member] | Individual Hotel Management Agreements [Member]
Operating Leased Assets [Line Items]
Master management agreement expiration date					Dec. 31, 2020
Expiry date of master management agreement					The remaining three individual hotel management agreements with Chesapeake Hospitality expire on December 31, 2020.
Our Town Hospitality [Member]
Operating Leased Assets [Line Items]
Operating lease term of contract			5 years		5 years
Lessee, operating lease, existence of option to extend [true false]					true
Additional renewal of agreement			5 years		5 years
Master management agreement expiration date					Mar. 31, 2025
Number of wholly-owned hotels operated under master management agreement | Hotel			10		10
Initial terms commencing and expiry period of master management agreement					Each of these management agreements have initial terms commencing January 1, 2020 and expiring March 31, 2025.
Hyatt Centric Arlington [Member]
Operating Leased Assets [Line Items]
Monthly contribution of room revenues					4.00%
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					$ 881,605	$ 524,490
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		2035
Number of additional renewal periods extended under ground lease | RenewalPeriod		4
Duration period under ground lease for each renewal periods extended		10 years
Hyde Beach House [Member] | Management Agreement for Parking Garage and Poolside [Member]
Operating Leased Assets [Line Items]
Rent expense					$ 72,625	0
Annual payment	$ 270,100
Initial term of agreement	20 years
Lessee, operating lease expiration year	2034
Lessee, operating lease, existence of option to extend [true false]	true
Lessee, operating lease, option to extend	The initial term of the parking garage and cabana lease expires in 2034 and may be extended for four additional renewal periods of 5 years each.
Number of additional renewal periods | RenewalPeriod	4
Additional renewal of agreement	5 years
Williamsburg Virginia [Member]
Operating Leased Assets [Line Items]
Area of commercial space leased | ft²			8,500		5,216
Operating lease, expiring date					Dec. 31, 2019
Rent expense			$ 218,875		$ 107,936	96,117	90,208
Commencement date of agreement			Jan. 1, 2020		Sep. 1, 2009
Operating lease term of contract			10 years		10 years
Lease rent increase each successive period percentage			3.00%
Tenant improvement allowance			$ 200,000		$ 200,000
The DeSoto Hotel Property [Member]
Operating Leased Assets [Line Items]
Area of commercial space leased | ft²					2,086
Operating lease, expiring date					Oct. 31, 2006
Duration period under renewal option second					5 years
Expiration date three under renewal option second					Oct. 31, 2021
Rent expense					$ 72,984	72,984	72,984
Hotel Alba Tampa, Tapestry Collection by Hilton [Member]
Operating Leased Assets [Line Items]
Operating lease, expiring date					Jul. 31, 2024
Rent expense					$ 2,152	$ 2,602	$ 2,602
Lease agreement					5 years
Commencement date of agreement					Jul. 31, 2019
Annual payment					$ 2,432
Additional renewal of agreement			5 years		5 years
Furniture, Fixtures and Equipment [Member]
Operating Leased Assets [Line Items]
Financing arrangement expiration date					2022-06
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] | Savannah Hotel Property [Member]
Operating Leased Assets [Line Items]
Duration of operating lease term					99 years
Operating lease, expiring date					Jul. 31, 2086
Rental income recognized during period					$ 0
Original lump sum rent payment received					$ 990

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of Minimum Future Lease Payments (Detail) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Finance Lease Liabilities Payments Due [Abstract]
For the twelve months ending December 31,		$ 364,163
December 31, 2021		354,639
December 31, 2022		351,464
December 31, 2023		351,464
December 31, 2024		351,464
December 31, 2025 and thereafter		3,217,237
Total		$ 4,990,431
Scenario Forecast [Member]
Finance Lease Liabilities Payments Due [Abstract]
For the twelve months ending December 31,	$ 488,804
December 31, 2021	469,811
December 31, 2022	425,735
December 31, 2023	386,682
December 31, 2024	386,682
December 31, 2025 and thereafter	12,045,965
Total	$ 14,203,679

Preferred Stock and Units - Add

Preferred Stock and Units - Additional Information (Detail) - USD ($)	Aug. 31, 2018	Sep. 30, 2019	May 31, 2019	Apr. 30, 2019	Dec. 31, 2018	Sep. 30, 2018	Oct. 30, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Nov. 15, 2017
Preferred Units [Line Items]
Preferred stock, shares authorized					11,000,000			11,000,000	11,000,000
Preferred stock, liquidation preference per share					$ 25			$ 25	$ 25
Proceeds from sale of preferred stock, net								$ 33,066,665	$ 1,005,063	$ 30,488,660
7.0% Senior Unsecured Notes [Member]
Preferred Units [Line Items]
Interest rate on loan											7.00%
Sotherly Hotels LP [Member]
Preferred Units [Line Items]
Preferred stock, liquidation preference per share					$ 25			$ 25	$ 25
Sotherly Hotels LP [Member] | 7.0% Senior Unsecured Notes [Member]
Preferred Units [Line Items]
Interest rate on loan							7.00%
Sotherly Hotels LP [Member] | 8.25% Series D Cumulative Redeemable Perpetual Preferred Units [Member]
Preferred Units [Line Items]
Operating partnership preferred partnership units issued total			1,200,000	1,200,000
Preferred units, dividend rate percentage			8.25%	8.25%				8.25%	8.25%
Proceeds from sale of preferred units, net			$ 28,400,000	$ 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	1,300,000		52,141
Preferred units, dividend rate percentage					7.875%	7.875%	7.875%	7.875%	7.875%
Proceeds from sale of preferred units, net					$ 1,000,000	$ 1,000,000	$ 30,500,000
Sales Agency Agreement [Member] | Sandler O’Neill [Member]
Preferred Units [Line Items]
Preferred stock, par value	$ 0.01
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
Preferred stock, liquidation preference per share					$ 25			$ 25	$ 25
Preferred stock, shares issued			1,200,000	1,200,000	0			1,200,000	0
Proceeds from sale of preferred stock, net			$ 28,400,000	$ 28,400,000
Preferred stock, par value					$ 0.01			$ 0.01	$ 0.01
Preferred stock, dividend rate percentage								8.25%	8.25%
7.875% Series C Cumulative Redeemable Perpetual Preferred Stock [Member]
Preferred Units [Line Items]
Preferred stock, shares authorized					11,000,000			11,000,000	11,000,000
Preferred stock, liquidation preference per share					$ 25			$ 25	$ 25
Preferred stock, shares issued					1,352,141		1,300,000	1,554,610	1,352,141
Proceeds from sale of preferred stock, net							$ 30,500,000
Preferred stock, par value					$ 0.01			$ 0.01	$ 0.01
Preferred stock, dividend rate percentage								7.875%	7.875%
7.875% Series C Cumulative Redeemable Perpetual Preferred Stock [Member] | Sales Agency Agreement [Member] | Sandler O’Neill [Member]
Preferred Units [Line Items]
Preferred stock, shares issued		202,469			52,141				52,141
Proceeds from sale of preferred stock, net		$ 4,900,000							$ 1,000,000
Preferred stock, par value	$ 0.01
Preferred stock, dividend rate percentage	787.50%
7.875% Series C Cumulative Redeemable Perpetual Preferred Stock [Member] | Maximum [Member] | Sales Agency Agreement [Member] | Sandler O’Neill [Member]
Preferred Units [Line Items]
Shares available for sale through sales agent	400,000

Preferred Stock and Units - Sch

Preferred Stock and Units - Schedule of Series of Cumulative Redeemable Perpetual Preferred Stock (Detail) - $ / shares	Jul. 15, 2019	Dec. 31, 2019	Dec. 31, 2018	May 31, 2019	Apr. 30, 2019	Oct. 30, 2017
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, Quarterly Distributions Per Share		$ 0.500000
7.875% Series C Cumulative Redeemable Perpetual Preferred Stock [Member]
Class Of Stock [Line Items]
Preferred Stock, Per Annum Rate		7.875%	7.875%
Preferred Stock, Liquidation Preference		$ 25	$ 25
Preferred Stock, Number of Shares Issued		1,554,610	1,352,141			1,300,000
Preferred Stock, Number of Shares Outstanding		1,554,610	1,352,141
Preferred Stock, Quarterly Distributions Per Share		$ 0.492188
8.25% Series D Cumulative Redeemable Perpetual Preferred Stock [Member]
Class Of Stock [Line Items]
Preferred Stock, Per Annum Rate		8.25%	8.25%
Preferred Stock, Liquidation Preference		$ 25	$ 25
Preferred Stock, Number of Shares Issued		1,200,000	0	1,200,000	1,200,000
Preferred Stock, Number of Shares Outstanding		1,200,000	0
Preferred Stock, Quarterly Distributions Per Share	$ 0.41823	$ 0.515625

Preferred Stock and Units - S_2

Preferred Stock and Units - Schedule of Series of Cumulative Redeemable Perpetual Preferred Units (Detail) - Sotherly Hotels LP [Member] - $ / shares	1 Months Ended					12 Months Ended
	May 31, 2019	Apr. 30, 2019	Dec. 31, 2018	Sep. 30, 2018	Oct. 30, 2017	Dec. 31, 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, Quarterly Distributions Per Unit						$ 0.500000
7.875% Series C Cumulative Redeemable Perpetual Preferred Units [Member]
Preferred Units [Line Items]
Preferred Units, Per Annum Rate			7.875%	7.875%	7.875%	7.875%	7.875%
Preferred Units, Liquidation Preference			$ 25			$ 25	$ 25
Preferred Units, Number of Units Issued			1,352,141			1,554,610	1,352,141
Preferred Units, Number of Units Outstanding			1,352,141			1,554,610	1,352,141
Preferred Units, Quarterly Distributions Per Unit						$ 0.492188
8.25% Series D Cumulative Redeemable Perpetual Preferred Units [Member]
Preferred Units [Line Items]
Preferred Units, Per Annum Rate	8.25%	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, Quarterly Distributions Per Unit						$ 0.515625

Preferred Stock and Units - Qua

Preferred Stock and Units - Quarterly Distributions Declared and Payable by Operating Partnership (Detail) - Sotherly Hotels LP [Member] - $ / shares	3 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017
8% Series B Cumulative Redeemable Perpetual Preferred Units [Member]
Class Of Stock [Line Items]
Preferred Stock, Quarterly Distributions Per Share	$ 0.500000	$ 0.500000	$ 0.500000	$ 0.500000	$ 0.500000	$ 0.500000	$ 0.500000	$ 0.500000		$ 0.500000	$ 0.500000	$ 0.500000	$ 0.500000
7.875% Series C Cumulative Redeemable Perpetual Preferred Units [Member]
Class Of Stock [Line Items]
Preferred Stock, Quarterly Distributions Per Share	0.492188	0.492188	0.492188	$ 0.492188	$ 0.492188	$ 0.492188	$ 0.492188	$ 0.492188	$ 0.432030
8.25% Series D Cumulative Redeemable Perpetual Preferred Units [Member]
Class Of Stock [Line Items]
Preferred Stock, Quarterly Distributions Per Share	$ 0.515625	$ 0.515625	$ 0.418230

Preferred Stock and Units - Q_2

Preferred Stock and Units - Quarterly Distributions Declared and Payable by Operating Partnership (Parenthetical) (Detail) - $ / shares	Jul. 15, 2019	Dec. 31, 2019
8.25% Series D Cumulative Redeemable Perpetual Preferred Stock [Member]
Class Of Stock [Line Items]
Preferred Stock, Quarterly Distributions Per Share	$ 0.41823	$ 0.515625

Common Stock and Units - Additi

Common Stock and Units - Additional Information (Detail)	Oct. 01, 2019shares	Feb. 22, 2019shares	Feb. 11, 2019shares	Feb. 05, 2018shares	Jan. 01, 2018shares	Feb. 15, 2017shares	Dec. 02, 2016USD ($)$ / shares	Feb. 28, 2017USD ($)shares	Dec. 31, 2018USD ($)$ / sharesshares	Dec. 31, 2019USD ($)$ / sharesshares	Dec. 31, 2018USD ($)$ / sharesshares	Dec. 31, 2017USD ($)shares	Dec. 31, 2019USD ($)$ / sharesshares	Aug. 31, 2018USD ($)$ / shares
Class of Stock [Line Items]
Common stock, shares authorized									69,000,000	69,000,000	69,000,000		69,000,000
Common stock, par value | $ / shares							$ 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		$ 2,731,041
Number of common stock shares repurchased										882,820
Number of common stock, shares purchased								682,500		0	0	682,500
Purchased common stock, value | $								$ 4,900,000				$ 4,874,758
Proceeds from sale of common stock, net | $											$ 574,174
Common stock, shares outstanding									14,209,378	14,272,378	14,209,378		14,272,378
Common stock exchange ratio										1			1
Redemption of units in operating partnership													0
Operating Partnership common units not owned									1,778,140	1,728,140	1,778,140		1,728,140
Sales Agency Agreement [Member] | Sandler O’Neill [Member]
Class of Stock [Line Items]
Common stock, par value | $ / shares														$ 0.01
Aggregate gross sale price of common stock | $														$ 5,000,000
Proceeds from sale of common stock, net | $									$ 600,000
Sotherly Hotels LP [Member]
Class of Stock [Line Items]
Operating Partnership common units outstanding									15,987,518	15,950,518	15,987,518		15,950,518
Fair market value | $									$ 10,000,000	$ 11,700,000	$ 10,000,000		$ 11,700,000
Common Stock [Member]
Class of Stock [Line Items]
Repurchased common stock, value | $												$ 4,017
Number of common stock shares repurchased												401,720
Conversion of units in Operating Partnership to shares of common stock, shares	50,000									50,000
Stock issued during period											88,297
Restricted shares issued										13,000	40,000	12,000
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		88,297
Common Stock [Member] | Sotherly Hotels LP [Member]
Class of Stock [Line Items]
Number of issued unit in Operating Partnership		250	12,750	17,250	25,000	12,000
Restricted shares issued				15,000	25,000	12,000
Non-restricted shares issued				2,250
Maximum [Member]
Class of Stock [Line Items]
Repurchased common stock, value | $							$ 10,000,000

Common Stock and Units - Quarte

Common Stock and Units - Quarterly Stock Dividends and Unit Distributions Declared and Payable Per Common Stock/Unit (Detail) - $ / shares	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017
Sotherly Hotels LP [Member]
Class of Stock [Line Items]
Dividends payable amount per share	$ 0.130	$ 0.130	$ 0.130	$ 0.125	$ 0.125	$ 0.125	$ 0.120	$ 0.115	$ 0.110	$ 0.110	$ 0.105	$ 0.100

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail)	Jan. 01, 2020USD ($)Hotel	Dec. 13, 2019USD ($)Hotel	Oct. 01, 2019shares	Dec. 31, 2019USD ($)Hotel	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Sep. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2019USD ($)ft²Hotel	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Oct. 31, 2019	Sep. 06, 2019Hotel
Related Party Transaction [Line Items]
Accounts receivable - affiliate				$ 101,771				$ 262,572				$ 101,771	$ 262,572
Net operating income				$ 1,845,845	$ 2,150,166	$ 8,887,458	$ 5,463,046	3,014,923	$ 3,119,143	$ 9,277,958	$ 4,694,287	$ 18,346,515	20,106,311	$ 16,163,888
Our Town Hospitality [Member]
Related Party Transaction [Line Items]
Number of wholly owned hotels | Hotel				10								10
Andrew M. Sims [Member]
Related Party Transaction [Line Items]
Business-related air travel expense reimbursed to partnership												$ 119,907	146,105	178,345
Andrew M. Sims [Member] | Chesapeake Hospitality [Member]
Related Party Transaction [Line Items]
Percentage of total outstanding ownership interests				0.00%								0.00%			19.30%
Andrew M. Sims [Member] | Our Town Hospitality [Member]
Related Party Transaction [Line Items]
Percentage of total outstanding ownership interests	19.50%
Kim E. Sims [Member] | Chesapeake Hospitality [Member]
Related Party Transaction [Line Items]
Percentage of total outstanding ownership interests				24.80%								24.80%
Christopher L. Sims [Member] | Chesapeake Hospitality [Member]
Related Party Transaction [Line Items]
Percentage of total outstanding ownership interests				24.80%								24.80%
Chesapeake Hospitality [Member]
Related Party Transaction [Line Items]
Accounts receivable - affiliate				$ 81,223				$ 91,987				$ 81,223	91,987
Expire date of wholly-owned hotels												Jan. 1, 2020
Number of wholly-owned hotels expired | Hotel	10
Termination Fees, expect to pay	$ 300,000
Agreement term												5 years
Base management fees earned by related party												$ 4,803,185	4,617,471	4,044,059
Incentive management fees expense by related party												164,168	168,231	126,918
Employee medical benefits paid												5,564,121	5,050,304	4,801,599
Workers' compensation insurance premium paid												$ 994,750	919,642	1,017,294
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] | 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%
David R. Folsom [Member] | Our Town Hospitality [Member]
Related Party Transaction [Line Items]
Percentage of total outstanding ownership interests	2.50%
Our Town Hospitality [Member]
Related Party Transaction [Line Items]
Area of office space subleased | ft²												2,245
Sublease term				5 years								5 years
Sublease renewal term				5 years								5 years
Sublease, existence of option to extend [true false]												true
Line of credit facility, interest rate at period				3.50%								3.50%
Line of Credit Facility, Outstanding												$ 0
Our Town Hospitality [Member] | Maximum [Member]
Related Party Transaction [Line Items]
Working capital line of credit				$ 850,000								850,000
Our Town Hospitality [Member] | Master Agreement
Related Party Transaction [Line Items]
Number of wholly owned hotels | Hotel																10
Our Town Hospitality [Member] | OTH Master Agreement [Member]
Related Party Transaction [Line Items]
Number of wholly owned hotels | Hotel		10
Working capital		$ 600,000
Percentage of reduction in payable fees		25.00%
Net operating income		$ 250,000
Percentage of management fee due		2.50%
Management fee of gross revenues for first full fiscal year		2.00%
Management fee of gross revenues for second full fiscal year		2.25%
Management fee of gross revenues for every year thereafter		2.50%
Our Town Hospitality [Member] | OTH Master Agreement [Member] | Maximum [Member]
Related Party Transaction [Line Items]
Initial working capital		$ 1,000,000
Immediate Family Members of Chairman [Member]
Related Party Transaction [Line Items]
Total compensation for related parties												$ 415,005	$ 386,456	$ 304,737
Previous Director [Member]
Related Party Transaction [Line Items]
Conversion of units in Operating Partnership to shares of common stock, shares | shares			50,000

Retirement Plans - Additional I

Retirement Plans - Additional Information (Detail)	2 Months Ended	12 Months Ended
	Feb. 28, 2017USD ($)shares	Dec. 31, 2019USD ($)Employeeshares	Dec. 31, 2018USD ($)shares	Dec. 31, 2017USD ($)shares	Dec. 29, 2016USD ($)
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 | $		$ 72,438	$ 71,623	$ 67,273
Maximum amount allocated to purchase common stock under ESOP | $					$ 5,000,000
Number of common stock, shares purchased | shares	682,500	0	0	682,500
Purchased common stock, value | $	$ 4,900,000			$ 4,874,758
Total number of ESOP shares | shares		104,672	69,306
Fair value of ESOP released from suspense account and recognized compensation cost | $		$ 709,676	$ 388,805
Compensation cost recognized | $		$ 219,645	$ 209,263	$ 135,500
Number of non committed, unearned ESOP shares | shares		574,816	613,194	648,668
Fair value of unallocated ESOP shares | $		$ 3,897,252	$ 3,440,020
Number of ESOP shares allocated | shares		66,295	33,832
Number of ESOP shares committed to be released | shares		38,377	35,474
ESOP [Member]
Defined Benefit Plan Disclosure [Line Items]
Number of common stock, shares purchased | shares		682,500
Purchased common stock, value | $		$ 4,900,000
Number of shares withdrawn from ESOP | shares		3,012
Number of employee resigned | Employee		1

Retirement Plans - Summary of S

Retirement Plans - Summary of Shares Allocations are Accounted For Fair Value on The Date of Allocations (Detail) - USD ($)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Compensation And Retirement Disclosure [Abstract]
Number of ESOP shares allocated	66,295	33,832
Number of ESOP shares committed to be released	38,377	35,474
Total number of ESOP allocated and committed-to-be-released	104,672	69,306
Number of non committed, unearned ESOP shares	574,816	613,194	648,668
Total number of ESOP shares	679,488	682,500
Fair value of ESOP allocated shares	$ 449,480	$ 189,798
Fair value of ESOP Committed-to-be released shares	260,196	199,007
Total fair value of ESOP allocated and committed-to-be-released	709,676	388,805
Fair value of ESOP unallocated shares	3,897,252	3,440,020
Total fair value of ESOP shares	$ 4,606,928	$ 3,828,825

Indirect Hotel Operating Expe_3

Indirect Hotel Operating Expenses - Summary of Indirect Hotel Operating Expenses (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	$ 70,395,633	$ 65,645,500	$ 57,612,203
Sales and Marketing [Member]
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	16,857,613	15,998,281	13,843,578
General and Administrative [Member]
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	15,401,458	14,581,707	12,949,596
Repairs and Maintenance [Member]
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	7,939,836	7,624,031	6,828,963
Utilities [Member]
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	6,282,218	6,266,192	5,820,589
Property Taxes [Member]
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	7,044,085	6,225,508	5,729,464
Management Fees, Including Incentive [Member]
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	5,259,194	4,785,702	4,170,977
Franchise Fees [Member]
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	4,706,459	4,308,065	3,877,231
Insurance [Member]
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	3,303,366	2,894,708	2,446,269
Information and Telecommunications [Member]
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	2,558,489	2,142,698	1,647,728
Other [Member]
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	$ 1,042,915	$ 818,608	$ 297,808

Income Taxes - Components of In

Income Taxes - Components of Income Tax (Benefit) Provision (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Current:
Federal	$ (125,587)
State	157,012	$ 149,410	$ 239,582
Total	31,425	149,410	239,582
Deferred:
Federal	(244,360)	351,663	1,661,153
State	(36,545)	(31,724)	(162,931)
Total	(280,905)	319,939	1,498,222
Income tax (benefit) provision	$ (249,480)	$ 469,349	$ 1,737,804

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Statutory Federal Income Tax Provision (Benefit) (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Statutory federal income tax provision	$ 194,479	$ (29,150)	$ 600,880
Effect of non-taxable REIT loss	(564,426)	380,813	(1,621,526)
Effect of change in federal income tax rate on net deferred tax assets			2,681,800
State income tax provision	120,467	117,686	76,650
Income tax (benefit) provision	$ (249,480)	$ 469,349	$ 1,737,804

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Income Taxes [Line Items]
Deferred tax asset	$ 5,412,084	$ 5,131,179
Accumulated net operating losses	$ 5,000,000
Loss carryforwards, expired	2028
Deferred tax asset nondeductible accrued expenses	$ 400,000	700,000
Reduction in deferred tax assets due to change in federal income tax rate	2,700,000
TRS Lessees [Member]
Income Taxes [Line Items]
Accumulated net operating losses	$ 5,000,000	$ 4,400,000

Loss per Share and per Unit - A

Loss per Share and per Unit - Additional Information (Detail) - shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Earnings Per Share [Line Items]
Number of non-committed, unearned ESOP shares	574,816	613,194	648,668
ESOP [Member]
Earnings Per Share [Line Items]
Number of ESOP units	0	0	0

Loss per Share and per Unit - C

Loss per Share and per Unit - Computation of Basic Net Loss Per Share (Detail) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Numerator
Net loss available to common stockholders for basic computation	$ (3,418,950)	$ (106,827)	$ (731,711)	$ (1,653,763)	$ (3,768,166)	$ (3,065,883)	$ 1,352,414	$ (238,343)	$ (5,911,251)	$ (5,719,978)	$ (3,339,136)
Denominator
Weighted average number of common shares outstanding									14,233,513	14,145,838	14,445,865
Weighted average number of Unearned ESOP Shares									(590,940)	(628,350)	(616,765)
Total weighted average number of common shares outstanding for basic computation									13,642,573	13,517,488	13,829,100
Basic net loss per share									$ (0.43)	$ (0.42)	$ (0.24)

Loss per Share and per Unit -_2

Loss per Share and per Unit - Computation of Basic Loss Per Unit (Detail) - Sotherly Hotels LP [Member] - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Schedule Of Computation Of Basic And Diluted Earnings Per Common Share [Line Items]
Net loss available to general and limited partnership unitholders for basic computation	$ (6,645,127)	$ (6,438,071)	$ (3,752,150)
Weighted average number of general and limited partnership units outstanding	16,011,653	15,923,978	16,224,005
Basic net loss per general and limited partnership unit	$ (0.42)	$ (0.40)	$ (0.23)

Quarterly Operating Results -_3

Quarterly Operating Results - Unaudited - Quarterly Operating Results (Detail) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Total revenue	$ 44,304,953	$ 42,552,175	$ 51,540,701	$ 47,390,304	$ 43,465,976	$ 41,418,062	$ 51,553,527	$ 41,735,556
Total operating expenses	42,459,108	40,402,009	42,653,243	41,927,258	40,451,053	38,298,919	42,275,569	37,041,269
Net operating income	1,845,845	2,150,166	8,887,458	5,463,046	3,014,923	3,119,143	9,277,958	4,694,287	$ 18,346,515	$ 20,106,311	$ 16,163,888
Net income (loss)	(1,652,288)	2,068,746	1,149,315	(390,205)	(2,770,453)	(1,981,780)	2,967,589	1,176,488	1,175,568	(608,157)	29,489
Net income (loss) attributable to common shareholders	$ (3,418,950)	$ (106,827)	$ (731,711)	$ (1,653,763)	$ (3,768,166)	$ (3,065,883)	$ 1,352,414	$ (238,343)	$ (5,911,251)	$ (5,719,978)	$ (3,339,136)
Earnings (loss) per share attributable to common shareholders– basic and diluted	$ (0.25)	$ (0.01)	$ (0.05)	$ (0.12)	$ (0.28)	$ (0.23)	$ 0.10	$ (0.02)
Net income (loss) available to operating partnership unitholders	$ (3,841,184)	$ (120,164)	$ (823,067)	$ (1,860,712)	$ (4,240,961)	$ (3,451,499)	$ 1,522,745	$ (268,356)
Earnings (loss) per unit attributable to operating partnership unitholders– basic and diluted	$ (0.23)	$ (0.01)	$ (0.05)	$ (0.12)	$ (0.27)	$ (0.22)	$ 0.10	$ (0.02)

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - Subsequent Event [Member] - USD ($)	Feb. 14, 2020	Jan. 27, 2020	Jan. 15, 2020	Jan. 10, 2020
Subsequent Event [Line Items]
Dividend paid				$ 0.13
Dividend record date		Mar. 13, 2020		Dec. 13, 2019
Dividend distributed		$ 0.13
Dividend payment date		Apr. 9, 2020
Sheraton Louisville Riverside Hotel – Jeffersonville, Indiana [Member] | 808 Indiana LLC [Member] | Hotel Purchase and Sale Agreement [Member]
Subsequent Event [Line Items]
Agreement date	Feb. 14, 2020
Sale price consideration	$ 13,500,000
Sheraton Louisville Riverside Hotel – Jeffersonville, Indiana [Member] | 808 Indiana LLC [Member] | Hotel Purchase and Sale Agreement [Member] | Sotherly Hotels LP [Member]
Subsequent Event [Line Items]
Guarantor obligations, maximum exposure by Operating Partnership	$ 750,000
7.875% Series C Cumulative Redeemable Perpetual Preferred Stock [Member]
Subsequent Event [Line Items]
Dividend record date		Mar. 31, 2020	Dec. 31, 2019
Dividend paid			$ 0.4922
Dividend payment date		Apr. 15, 2020
Preferred dividend distributed		$ 0.4922
8.25% Series D Cumulative Redeemable Perpetual Preferred Stock [Member]
Subsequent Event [Line Items]
Dividend record date		Mar. 31, 2020	Dec. 31, 2019
Dividend paid			$ 0.515625
Dividend payment date		Apr. 15, 2020
Preferred dividend distributed		$ 0.515625
8% Series B Cumulative Redeemable Perpetual Preferred Stock [Member]
Subsequent Event [Line Items]
Dividend record date		Mar. 31, 2020	Dec. 31, 2019
Dividend paid			$ 0.50
Dividend payment date		Apr. 15, 2020
Preferred dividend distributed		$ 0.50

Schedule III - Real Estate an_2

Schedule III - Real Estate and Accumulated Depreciation - Real Estate and Accumulated Depreciation (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 360,980,000
Initial Costs, Land	58,009,000
Initial Costs, Building & Improvements	316,046,000
Costs Capitalized Subsequent to Acquisition, Land	8,022,550
Costs Capitalized Subsequent to Acquisition, Building & Improvements	122,222,000
Gross Amount at End of Year, Land	66,032,000
Gross Amount at End of Year, Building & Improvements	438,268,000
Gross Amount at End of Year, Total	504,300,000	$ 489,067,000	$ 408,037,000
Accumulated Depreciation & Impairment	$ (97,537,000)
The DeSoto - Savannah, Georgia [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Description	The DeSoto – Savannah, Georgia
Encumbrances	$ 32,967,000
Initial Costs, Land	600,000
Initial Costs, Building & Improvements	13,562,000
Costs Capitalized Subsequent to Acquisition, Land	813,000
Costs Capitalized Subsequent to Acquisition, Building & Improvements	18,695,000
Gross Amount at End of Year, Land	1,413,000
Gross Amount at End of Year, Building & Improvements	32,257,000
Gross Amount at End of Year, Total	33,670,000
Accumulated Depreciation & Impairment	$ (11,643,000)
Date of Construction	1968
Date Acquired	2004
The DeSoto - Savannah, Georgia [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	3 years
The DeSoto - Savannah, Georgia [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	39 years
DoubleTree by Hilton Jacksonville Riverfront - Jacksonville, Florida [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Description	DoubleTree by Hilton Jacksonville Riverfront – Jacksonville, Florida
Encumbrances	$ 34,226,000
Initial Costs, Land	7,090,000
Initial Costs, Building & Improvements	14,604,000
Costs Capitalized Subsequent to Acquisition, Land	148,000
Costs Capitalized Subsequent to Acquisition, Building & Improvements	7,443,000
Gross Amount at End of Year, Land	7,238,000
Gross Amount at End of Year, Building & Improvements	22,047,000
Gross Amount at End of Year, Total	29,286,000
Accumulated Depreciation & Impairment	$ (8,179,000)
Date of Construction	1970
Date Acquired	2005
DoubleTree by Hilton Jacksonville Riverfront - Jacksonville, Florida [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	3 years
DoubleTree by Hilton Jacksonville Riverfront - Jacksonville, Florida [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	39 years
DoubleTree by Hilton Laurel - Laurel, Maryland [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Description	DoubleTree by Hilton Laurel – Laurel, Maryland
Encumbrances	$ 8,535,000
Initial Costs, Land	900,000
Initial Costs, Building & Improvements	9,443,000
Costs Capitalized Subsequent to Acquisition, Land	64,000
Costs Capitalized Subsequent to Acquisition, Building & Improvements	5,681,000
Gross Amount at End of Year, Land	964,000
Gross Amount at End of Year, Building & Improvements	15,124,000
Gross Amount at End of Year, Total	16,088,000
Accumulated Depreciation & Impairment	$ (5,261,000)
Date of Construction	1985
Date Acquired	2004
DoubleTree by Hilton Laurel - Laurel, Maryland [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	3 years
DoubleTree by Hilton Laurel - Laurel, Maryland [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	39 years
DoubleTree by Hilton Philadelphia Airport - Philadelphia, Pennsylvania [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Description	DoubleTree by Hilton Philadelphia Airport – Philadelphia, Pennsylvania
Encumbrances	$ 41,420,000
Initial Costs, Land	2,100,000
Initial Costs, Building & Improvements	22,031,000
Costs Capitalized Subsequent to Acquisition, Land	400,000
Costs Capitalized Subsequent to Acquisition, Building & Improvements	6,590,000
Gross Amount at End of Year, Land	2,500,000
Gross Amount at End of Year, Building & Improvements	28,621,000
Gross Amount at End of Year, Total	31,121,000
Accumulated Depreciation & Impairment	$ (11,162,000)
Date of Construction	1972
Date Acquired	2004
DoubleTree by Hilton Philadelphia Airport - Philadelphia, Pennsylvania [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	3 years
DoubleTree by Hilton Philadelphia Airport - Philadelphia, Pennsylvania [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	39 years
DoubleTree by Hilton Raleigh Brownstone - University - Raleigh, North Carolina [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Description	DoubleTree by Hilton Raleigh Brownstone – University – Raleigh, North Carolina
Encumbrances	$ 18,300,000
Initial Costs, Land	815,000
Initial Costs, Building & Improvements	7,416,000
Costs Capitalized Subsequent to Acquisition, Land	3,790,000
Costs Capitalized Subsequent to Acquisition, Building & Improvements	6,626,000
Gross Amount at End of Year, Land	4,605,000
Gross Amount at End of Year, Building & Improvements	14,042,000
Gross Amount at End of Year, Total	18,647,000
Accumulated Depreciation & Impairment	$ (6,365,000)
Date of Construction	1971
Date Acquired	2004
DoubleTree by Hilton Raleigh Brownstone - University - Raleigh, North Carolina [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	3 years
DoubleTree by Hilton Raleigh Brownstone - University - Raleigh, North Carolina [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	39 years
DoubleTree Resort by Hilton Hollywood Beach - Hollywood Beach Florida [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Description	DoubleTree Resort by Hilton Hollywood Beach - Hollywood Beach, Florida
Encumbrances	$ 56,057,000
Initial Costs, Land	22,865,000
Initial Costs, Building & Improvements	67,660,000
Costs Capitalized Subsequent to Acquisition, Land	627,000
Costs Capitalized Subsequent to Acquisition, Building & Improvements	7,912,000
Gross Amount at End of Year, Land	23,492,000
Gross Amount at End of Year, Building & Improvements	75,572,000
Gross Amount at End of Year, Total	99,064,000
Accumulated Depreciation & Impairment	$ (8,736,000)
Date of Construction	1972
Date Acquired	2015
DoubleTree Resort by Hilton Hollywood Beach - Hollywood Beach Florida [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	3 years
DoubleTree Resort by Hilton Hollywood Beach - Hollywood Beach Florida [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	39 years
Georgian Terrace - Atlanta, Georgia [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Description	Georgian Terrace – Atlanta, Georgia
Encumbrances	$ 43,335,000
Initial Costs, Land	10,128,000
Initial Costs, Building & Improvements	45,386,000
Costs Capitalized Subsequent to Acquisition, Land	(1,300,000)
Costs Capitalized Subsequent to Acquisition, Building & Improvements	5,784,000
Gross Amount at End of Year, Land	8,828,000
Gross Amount at End of Year, Building & Improvements	51,170,000
Gross Amount at End of Year, Total	59,998,000
Accumulated Depreciation & Impairment	$ (8,294,000)
Date of Construction	1911
Date Acquired	2014
Georgian Terrace - Atlanta, Georgia [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	3 years
Georgian Terrace - Atlanta, Georgia [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	39 years
Hotel Alba Tampa, Tapestry Collection by Hilton - Tampa, Florida [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Description	Hotel Alba Tampa, Tapestry Collection by Hilton – Tampa, Florida
Encumbrances	$ 18,000,000
Initial Costs, Land	4,153,000
Initial Costs, Building & Improvements	9,670,000
Costs Capitalized Subsequent to Acquisition, Land	1,739,000
Costs Capitalized Subsequent to Acquisition, Building & Improvements	25,964,000
Gross Amount at End of Year, Land	5,892,000
Gross Amount at End of Year, Building & Improvements	35,634,000
Gross Amount at End of Year, Total	41,526,000
Accumulated Depreciation & Impairment	$ (9,225,000)
Date of Construction	1973
Date Acquired	2007
Hotel Alba Tampa, Tapestry Collection by Hilton - Tampa, Florida [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	3 years
Hotel Alba Tampa, Tapestry Collection by Hilton - Tampa, Florida [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	39 years
Hotel Ballast Wilmington, Tapestry Collection by Hilton - Wilmington, North Carolina [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Description	Hotel Ballast Wilmington, Tapestry Collection by Hilton – Wilmington, North Carolina
Encumbrances	$ 33,402,000
Initial Costs, Land	785,000
Initial Costs, Building & Improvements	16,829,000
Costs Capitalized Subsequent to Acquisition, Land	1,149,000
Costs Capitalized Subsequent to Acquisition, Building & Improvements	14,529,000
Gross Amount at End of Year, Land	1,934,000
Gross Amount at End of Year, Building & Improvements	31,358,000
Gross Amount at End of Year, Total	33,292,000
Accumulated Depreciation & Impairment	$ (12,914,000)
Date of Construction	1970
Date Acquired	2004
Hotel Ballast Wilmington, Tapestry Collection by Hilton - Wilmington, North Carolina [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	3 years
Hotel Ballast Wilmington, Tapestry Collection by Hilton - Wilmington, North Carolina [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	39 years
Hyatt Centric Arlington - Arlington, Virginia [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Description	Hyatt Centric Arlington - Arlington, Virginia
Encumbrances	$ 49,174,000
Initial Costs, Land	191,000
Initial Costs, Building & Improvements	70,369,000
Costs Capitalized Subsequent to Acquisition, Land	79,000
Costs Capitalized Subsequent to Acquisition, Building & Improvements	1,258,000
Gross Amount at End of Year, Land	270,000
Gross Amount at End of Year, Building & Improvements	71,627,000
Gross Amount at End of Year, Total	71,897,000
Accumulated Depreciation & Impairment	$ (3,382,000)
Date Acquired	2018
Hyatt Centric Arlington - Arlington, Virginia [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	3 years
Hyatt Centric Arlington - Arlington, Virginia [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	39 years
Sheraton Louisville Riverside - Jeffersonville, Indiana [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Description	Sheraton Louisville Riverside – Jeffersonville, Indiana
Encumbrances	$ 11,114,000
Initial Costs, Land	782,000
Initial Costs, Building & Improvements	6,891,000
Costs Capitalized Subsequent to Acquisition, Land	407,000
Costs Capitalized Subsequent to Acquisition, Building & Improvements	14,813,000
Gross Amount at End of Year, Land	1,189,000
Gross Amount at End of Year, Building & Improvements	21,704,000
Gross Amount at End of Year, Total	22,893,000
Accumulated Depreciation & Impairment	$ (7,032,000)
Date of Construction	1972
Date Acquired	2006
Sheraton Louisville Riverside - Jeffersonville, Indiana [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	3 years
Sheraton Louisville Riverside - Jeffersonville, Indiana [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	39 years
The Whitehall - Houston, Texas [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Description	The Whitehall – Houston, Texas
Encumbrances	$ 14,450,000
Initial Costs, Land	7,374,000
Initial Costs, Building & Improvements	22,185,000
Costs Capitalized Subsequent to Acquisition, Land	106,000
Costs Capitalized Subsequent to Acquisition, Building & Improvements	6,927,000
Gross Amount at End of Year, Land	7,480,000
Gross Amount at End of Year, Building & Improvements	29,112,000
Gross Amount at End of Year, Total	36,592,000
Accumulated Depreciation & Impairment	$ (4,986,000)
Date of Construction	1963
Date Acquired	2013
The Whitehall - Houston, Texas [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	3 years
The Whitehall - Houston, Texas [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	39 years
Commercial Unit of Hyde Resort & Residences [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Description	Hyde Resort & Residences
Initial Costs, Land	$ 226,000
Initial Costs, Building & Improvements	4,290,000
Gross Amount at End of Year, Land	226,000
Gross Amount at End of Year, Building & Improvements	4,290,000
Gross Amount at End of Year, Total	4,516,000
Accumulated Depreciation & Impairment	$ (321,000)
Date of Construction	2016
Date Acquired	2017
Commercial Unit of Hyde Resort & Residences [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	3 years
Commercial Unit of Hyde Resort & Residences [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	39 years
Hyde Beach House Resort & Residences [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Description	Hyde Beach House Resort & Residences
Initial Costs, Building & Improvements	$ 5,710,000
Gross Amount at End of Year, Building & Improvements	5,710,000
Gross Amount at End of Year, Total	5,710,000
Accumulated Depreciation & Impairment	$ (37,000)
Date of Construction	2019
Date Acquired	2019
Hyde Beach House Resort & Residences [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	3 years
Hyde Beach House Resort & Residences [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	39 years

Schedule III - Real Estate an_3

Schedule III - Real Estate and Accumulated Depreciation - Real Estate and Accumulated Depreciation (Parenthetical) (Detail) $ in Millions	Dec. 31, 2019USD ($)
Real Estate And Accumulated Depreciation Disclosure [Abstract]
Aggregate cost of our real estate assets for federal income tax	$ 489.9

Schedule III - Real Estate an_4

Schedule III - Real Estate and Accumulated Depreciation - Reconciliation of Real Estate and Accumulated Depreciation (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of Real Estate
Beginning Balance	$ 489,067,000	$ 408,037,000
Acquisitions	5,710,000	71,037,000
Improvements	13,097,000	14,355,000
Disposal of Assets	(3,574,000)	(4,362,000)
Ending Balance	504,300,000	489,067,000
Reconciliation of Accumulated Depreciation
Beginning Balance	85,655,000	75,111,000
Current Expense	14,770,000	14,787,000
Impairment	0	0
Disposal of Assets	(2,888,000)	(4,243,000)
Ending Balance	$ 97,537,000	$ 85,655,000