Sotherly Hotels (SOHO) 10-K 24 Mar 21 2020 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2020	Mar. 05, 2021	Jun. 30, 2020
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Document Annual Report	true
Document Transition Report	false
Entity Registrant Name	SOTHERLY HOTELS INC.
Entity Central Index Key	0001301236
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	true
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Incorporation, State or Country Code	MD
Entity File Number	001-32379
Entity Tax Identification Number	20-1531029
Entity Address, Address Line One	306 South Henry Street, Suite 100
Entity Address, City or Town	Williamsburg
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	23185
City Area Code	757
Local Phone Number	229-5648
Entity Common Stock, Shares Outstanding		15,175,231
Entity Public Float			$ 31,145,418
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 2021 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, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Document Annual Report	true
Document Transition Report	false
Entity Registrant Name	SOTHERLY HOTELS LP
Entity Central Index Key	0001301236
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Incorporation, State or Country Code	DE
Entity File Number	001-36091
Entity Tax Identification Number	20-1965427
Entity Address, Address Line One	306 South Henry Street, Suite 100
Entity Address, City or Town	Williamsburg
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	23185
City Area Code	757
Local Phone Number	229-5648

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2020	Dec. 31, 2019
ASSETS
Investment in hotel properties, net	$ 427,824,585	$ 443,267,448
Cash and cash equivalents	25,297,771	23,738,066
Restricted cash	10,002,775	4,246,170
Accounts receivable, net	1,779,776	4,812,479
Accounts receivable - affiliate	401,924	101,771
Prepaid expenses, inventory and other assets	7,726,980	5,648,772
Deferred income taxes		5,412,084
TOTAL ASSETS	473,033,811	487,226,790
LIABILITIES
Mortgage loans, net	357,545,977	358,633,884
Secured notes, net	18,694,355
Unsecured notes, net	10,719,100
Accounts payable and accrued liabilities	35,631,931	20,189,903
Advance deposits	1,964,073	2,785,338
Dividends and distributions payable	4,277,070	4,210,494
TOTAL LIABILITIES	428,832,506	385,819,619
Commitments and contingencies (See Note 6)
Sotherly Hotels Inc. stockholders’ equity
Common stock, par value $0.01, 69,000,000 shares authorized, 15,023,850 shares issued and outstanding at December 31, 2020 and 14,272,378 shares issued and outstanding at December 31, 2019.	150,238	142,723
Additional paid-in capital	180,189,699	180,515,861
Unearned ESOP shares	(3,636,026)	(4,105,637)
Distributions in excess of retained earnings	(127,197,489)	(73,990,690)
Total Sotherly Hotels Inc. stockholders’ equity	49,550,068	102,605,903
Noncontrolling interest	(5,348,763)	(1,198,732)
TOTAL EQUITY	44,201,305	101,407,171
TOTAL LIABILITIES AND EQUITY	473,033,811	487,226,790
Sotherly Hotels LP [Member]
ASSETS
Investment in hotel properties, net	427,824,585	443,267,448
Cash and cash equivalents	25,297,771	23,738,066
Restricted cash	10,002,775	4,246,170
Accounts receivable, net	1,779,776	4,812,479
Accounts receivable - affiliate	401,924	101,771
Loan receivable - affiliate	3,746,254	4,209,630
Prepaid expenses, inventory and other assets	7,726,980	5,648,772
Deferred income taxes		5,412,084
TOTAL ASSETS	476,780,065	491,436,420
LIABILITIES
Mortgage loans, net	357,545,977	358,633,884
Secured notes, net	18,694,355
Unsecured notes, net	10,719,100
Accounts payable and accrued liabilities	35,631,931	20,189,903
Advance deposits	1,964,073	2,785,338
Dividends and distributions payable	4,277,070	4,268,978
TOTAL LIABILITIES	428,832,506	385,878,103
Commitments and contingencies (See Note 6)
PARTNERS' CAPITAL
General Partner:160,629 units and 160,006 units issued and outstanding as of December 31, 2020 and December 31, 2019, respectively.	(258,538)	315,959
Limited Partners: 15,902,140 units and 15,790,512 units issued and outstanding as of December 31, 2020 and December 31, 2019, respectively.	(54,399,898)	2,636,363
TOTAL PARTNERS’ CAPITAL	47,947,559	105,558,317
Sotherly Hotels Inc. stockholders’ equity
TOTAL LIABILITIES AND EQUITY	476,780,065	491,436,420
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	36,461,955
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	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	15,546
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	$ 12,000

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Preferred stock, shares authorized	11,000,000	11,000,000
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	69,000,000	69,000,000
Common stock, shares issued	15,023,850	14,272,378
Common stock, shares outstanding	15,023,850	14,272,378
Sotherly Hotels LP [Member]
General Partner, units issued	161,904	160,006
General Partner, units outstanding	161,904	160,006
Limited Partner, units issued	16,028,447	15,790,512
Limited Partner, units outstanding	16,028,447	15,790,512
Sotherly Hotels LP [Member] | 8% Series B Cumulative Redeemable Perpetual Preferred Units [Member]
Preferred units, authorized	11,000,000	11,000,000
Preferred units, dividend rate percentage	8.00%	8.00%
Preferred units, issued	1,610,000	1,610,000
Preferred units, outstanding	1,610,000	1,610,000
Preferred units, aggregate liquidation preference	$ 42,665,000	$ 40,250,000
Sotherly Hotels LP [Member] | 7.875% Series C Cumulative Redeemable Perpetual Preferred Units [Member]
Preferred units, authorized	11,000,000	11,000,000
Preferred units, dividend rate percentage	7.875%	7.875%
Preferred units, issued	1,554,610	1,554,610
Preferred units, outstanding	1,554,610	1,554,610
Preferred units, aggregate liquidation preference	$ 41,160,731	$ 38,865,250
Sotherly Hotels LP [Member] | 8.25% Series D Cumulative Redeemable Perpetual Preferred Units [Member]
Preferred units, authorized	11,000,000	11,000,000
Preferred units, dividend rate percentage	8.25%	8.25%
Preferred units, issued	1,200,000	1,200,000
Preferred units, outstanding	1,200,000	1,200,000
Preferred units, aggregate liquidation preference	$ 31,856,250	$ 30,000,000
8.0% Series B Cumulative Redeemable Perpetual Preferred Stock [Member]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	11,000,000	11,000,000
Preferred stock, dividend rate percentage	8.00%	8.00%
Preferred stock, shares issued	1,610,000	1,610,000
Preferred stock, shares outstanding	1,610,000	1,610,000
Preferred stock, aggregate liquidation preference	$ 42,655,000	$ 40,250,000
7.875% Series C Cumulative Redeemable Perpetual Preferred Stock [Member]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	11,000,000	11,000,000
Preferred stock, dividend rate percentage	7.875%	7.875%
Preferred stock, shares issued	1,554,610	1,554,610
Preferred stock, shares outstanding	1,554,610	1,554,610
Preferred stock, aggregate liquidation preference	$ 41,160,731	$ 38,865,250
8.25% Series D Cumulative Redeemable Perpetual Preferred Stock [Member]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	11,000,000	11,000,000
Preferred stock, dividend rate percentage	8.25%	8.25%
Preferred stock, shares issued	1,200,000	1,200,000
Preferred stock, shares outstanding	1,200,000	1,200,000
Preferred stock, aggregate liquidation preference	$ 31,856,250	$ 30,000,000

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
REVENUE
Total revenue	$ 71,502,576	$ 185,788,133	$ 178,173,121
Hotel operating expenses
Total hotel operating expenses	74,726,885	138,850,209	130,489,456
Depreciation and amortization	19,896,772	21,637,316	20,884,643
Loss on disposal of assets	136,063	123,739	511,749
Corporate general and administrative	6,492,526	6,830,354	6,180,962
Total operating expenses	101,252,246	167,441,618	158,066,810
NET OPERATING (LOSS) INCOME	(29,749,670)	18,346,515	20,106,311
Other income (expense)
Interest expense	(18,056,874)	(19,768,193)	(19,953,746)
Interest income	210,426	444,459	352,951
Loss on early extinguishment of debt		(1,152,356)	(753,133)
Unrealized loss on hedging activities	(986,200)	(1,177,871)	(808,958)
Gain on exercise of development right		3,940,000
Gain on involuntary conversion of assets	179,856	293,534	917,767
Net (loss) income before income taxes	(48,402,462)	926,088	(138,808)
Income tax (provision) benefit	(5,280,443)	249,480	(469,349)
Net (loss) income	(53,682,905)	1,175,568	(608,157)
Less: Net loss attributable to noncontrolling interest	4,489,341	733,876	718,093
Net (loss) income attributable to the Company	(49,193,564)	1,909,444	109,936
Declared and undeclared distributions to preferred stockholders	(8,755,642)	(7,820,695)	(5,829,914)
Net loss attributable to common stockholders	$ (57,949,206)	$ (5,911,251)	$ (5,719,978)
Net loss per share attributable to common stockholders/general and limited partner unit
Basic	$ (4.05)	$ (0.43)	$ (0.42)
Weighted average number of common shares/general and limited partner units outstanding
Basic	14,312,049	13,642,573	13,517,488
Sotherly Hotels LP [Member]
REVENUE
Total revenue	$ 71,502,576	$ 185,788,133	$ 178,173,121
Hotel operating expenses
Total hotel operating expenses	74,726,885	138,850,209	130,489,456
Depreciation and amortization	19,896,772	21,637,316	20,884,643
Loss on disposal of assets	136,063	123,739	511,749
Corporate general and administrative	6,492,526	6,830,354	6,180,962
Total operating expenses	101,252,246	167,441,618	158,066,810
NET OPERATING (LOSS) INCOME	(29,749,670)	18,346,515	20,106,311
Other income (expense)
Interest expense	(18,056,874)	(19,768,193)	(19,953,746)
Interest income	210,426	444,459	352,951
Loss on early extinguishment of debt		(1,152,356)	(753,133)
Unrealized loss on hedging activities	(986,200)	(1,177,871)	(808,958)
Gain on exercise of development right		3,940,000
Gain on involuntary conversion of assets	179,856	293,534	917,767
Net (loss) income before income taxes	(48,402,462)	926,088	(138,808)
Income tax (provision) benefit	(5,280,443)	249,480	(469,349)
Net (loss) income	(53,682,905)	1,175,568	(608,157)
Declared and undeclared distributions to preferred unit holders	(8,755,642)	(7,820,695)	(5,829,914)
Net loss attributable per general and limited partner unit	$ (62,438,547)	$ (6,645,127)	$ (6,438,071)
Net loss per share attributable to common stockholders/general and limited partner unit
Basic	$ (3.89)	$ (0.42)	$ (0.40)
Weighted average number of common shares/general and limited partner units outstanding
Basic	16,065,499	16,011,653	15,923,978
Rooms Department [Member]
REVENUE
Total revenue	$ 49,192,589	$ 128,062,932	$ 120,993,460
Hotel operating expenses
Total hotel operating expenses	15,565,313	32,142,171	30,334,309
Rooms Department [Member] | Sotherly Hotels LP [Member]
REVENUE
Total revenue	49,192,589	128,062,932	120,993,460
Hotel operating expenses
Total hotel operating expenses	15,565,313	32,142,171	30,334,309
Food and Beverage Department [Member]
REVENUE
Total revenue	10,676,646	40,267,240	38,134,813
Hotel operating expenses
Total hotel operating expenses	8,531,411	29,355,080	28,090,145
Food and Beverage Department [Member] | Sotherly Hotels LP [Member]
REVENUE
Total revenue	10,676,646	40,267,240	38,134,813
Hotel operating expenses
Total hotel operating expenses	8,531,411	29,355,080	28,090,145
Other Operating Departments [Member]
REVENUE
Total revenue	11,633,341	17,457,961	19,044,848
Hotel operating expenses
Total hotel operating expenses	5,142,853	6,957,325	6,419,502
Other Operating Departments [Member] | Sotherly Hotels LP [Member]
REVENUE
Total revenue	11,633,341	17,457,961	19,044,848
Hotel operating expenses
Total hotel operating expenses	5,142,853	6,957,325	6,419,502
Indirect [Member]
Hotel operating expenses
Total hotel operating expenses	45,487,308	70,395,633	65,645,500
Indirect [Member] | Sotherly Hotels LP [Member]
Hotel operating expenses
Total hotel operating expenses	$ 45,487,308	$ 70,395,633	$ 65,645,500

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, 2017	$ 94,175,030		$ 29,100		$ 140,788	$ 146,249,339		$ (4,633,112)	$ (48,765,860)	$ 1,154,775
Balances, shares, beginning at Dec. 31, 2017			2,910,000		14,078,831
Net income (loss)	(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 restricted common stock awards	89,850				$ 400	89,450
Issuance of restricted common stock awards, shares					40,000
Issuance of common stock	574,174				$ 882	573,292
Issuance of common stock, shares					88,297
Issuance of preferred stock		$ 1,005,063		$ 521			$ 1,004,542
Issuance of preferred stock, shares				52,141
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 restricted common stock awards	92,333				$ 130	92,203
Issuance of restricted common stock awards, shares					13,000
Issuance of preferred stock	33,066,665		$ 14,025			33,052,640
Issuance of preferred stock, shares			1,402,469
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
Net income (loss)	(53,682,905)								(49,193,564)	(4,489,341)
Issuance of unrestricted common stock awards	14,175				$ 23	14,152
Issuance of unrestricted common stock awards, shares					2,250
Issuance of restricted common stock awards	461,939				$ 1,876	460,063
Issuance of restricted common stock awards, shares					187,583
Conversion of units in Operating Partnership to shares of common stock					$ 5,616	(608,440)		(322)	102,741	500,405
Conversion of units in Operating Partnership to shares of common stock, shares					561,639
Amortization of ESOP shares	205,216					(264,717)		469,933
Amortization of restricted stock award	72,780					72,780
Preferred stock dividends declared	(2,188,910)								(2,188,910)
Common stockholders' dividends and distributions declared	(2,088,161)								(1,927,066)	(161,095)
Balances, ending at Dec. 31, 2020	$ 44,201,305		$ 43,646		$ 150,238	$ 180,189,699		$ (3,636,026)	$ (127,197,489)	$ (5,348,763)
Balances, shares, ending at Dec. 31, 2020			4,364,610		15,023,850

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net (loss) income	$ (53,682,905)	$ 1,175,568	$ (608,157)
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
Depreciation and amortization	19,896,772	21,637,316	20,884,643
Amortization of deferred financing costs	572,696	789,525	1,020,396
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	(179,856)	(293,534)	(917,767)
Unrealized loss on hedging activities	986,200	1,177,871	808,958
Loss on disposal of assets	136,063	123,739	511,749
Loss on early extinguishment of debt		1,152,356	753,133
ESOP and stock / unit - based compensation	754,111	385,561	379,153
Changes in assets and liabilities:
Accounts receivable	3,032,703	1,954,217	(885,929)
Prepaid expenses, inventory and other assets	(2,197,874)	(162,621)	1,620,941
Deferred income taxes	5,412,084	(280,905)	319,939
Accounts payable and other accrued liabilities	15,152,165	(1,364,458)	1,148,869
Advance deposits	(821,265)	(29,945)	1,020,670
Accounts receivable - affiliate	(300,153)	160,801	131,454
Net cash (used in) provided by operating activities	(11,263,940)	22,460,810	26,163,371
Cash flows from investing activities:
Acquisitions of hotel properties		(6,346,378)	(79,732,716)
Improvements and additions to hotel properties	(4,015,514)	(12,661,169)	(22,104,775)
Proceeds from involuntary conversion	179,856	293,534	917,767
Proceeds from the disposal of assets	56,677	4,934	20,677
Net cash used in investing activities	(3,778,981)	(18,709,079)	(100,899,047)
Cash flows from financing activities:
Proceeds from issuance of preferred stock, net		33,066,665	1,005,063
Proceeds from issuance of common stock, net			574,174
Proceeds of mortgage debt			175,800,000
Proceeds from secured notes	20,000,000
Proceeds from unsecured notes	10,719,100		25,000,000
Redemption of unsecured notes		(25,000,000)
Payments on mortgage loans	(2,609,861)	(6,633,624)	(107,237,891)
Payments of deferred financing costs	(1,560,680)	(106,950)	(3,816,848)
Dividends on common stock and distributions paid	(2,000,418)	(7,859,575)	(6,319,669)
Preferred dividends paid	(2,188,910)	(7,102,292)	(5,829,914)
Net cash provided by (used in) financing activities	22,359,231	(13,635,776)	79,174,915
Net increase (decrease) in cash, cash equivalents and restricted cash	7,316,310	(9,884,045)	4,439,239
Cash, cash equivalents and restricted cash at the beginning of the period	27,984,236	37,868,281	33,429,042
Cash, cash equivalents and restricted cash at the end of the period	35,300,546	27,984,236	37,868,281
Supplemental disclosures:
Cash paid during the period for interest	9,543,748	19,262,904	18,325,563
Cash paid (received) during the period for income taxes	(21,078)	(76,104)	173,753
Non-cash investing and financing activities:
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	542,102	347,269	222,989
Transfer of accrued deferred interest from accounts payable and accrued liabilities to mortgage loans	1,181,476
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
Exercise of development right		3,940,000
Sotherly Hotels LP [Member]
Cash flows from operating activities:
Net (loss) income	(53,682,905)	1,175,568	(608,157)
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
Depreciation and amortization	19,896,772	21,637,316	20,884,643
Amortization of deferred financing costs	572,696	789,525	1,020,396
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	(179,856)	(293,534)	(917,767)
Unrealized loss on hedging activities	986,200	1,177,871	808,958
Loss on disposal of assets	136,063	123,739	511,749
Loss on early extinguishment of debt		1,152,356	753,133
ESOP and stock / unit - based compensation	349,217	451,028	462,193
Changes in assets and liabilities:
Accounts receivable	3,032,703	1,954,217	(885,929)
Prepaid expenses, inventory and other assets	(2,197,874)	(162,621)	1,620,941
Deferred income taxes	5,412,084	(280,905)	319,939
Accounts payable and other accrued liabilities	15,152,165	(1,364,458)	1,148,869
Advance deposits	(821,265)	(29,945)	1,020,670
Accounts receivable - affiliate	(300,153)	160,801	131,454
Net cash (used in) provided by operating activities	(11,668,834)	22,526,277	26,246,411
Cash flows from investing activities:
Acquisitions of hotel properties		(6,346,378)	(79,732,716)
Improvements and additions to hotel properties	(4,015,514)	(12,661,169)	(22,104,775)
ESOP loan payments received	463,376	236,780	204,559
Proceeds from involuntary conversion	179,856	293,534	917,767
Proceeds from the disposal of assets	56,677	4,934	20,677
Net cash used in investing activities	(3,315,605)	(18,472,299)	(100,694,488)
Cash flows from financing activities:
Proceeds from issuance of preferred stock, net		33,066,665	1,005,063
Proceeds from issuance of general and limited partnership units, net			574,174
Proceeds of mortgage debt			175,800,000
Proceeds from secured notes	20,000,000
Proceeds from unsecured notes	10,719,100		25,000,000
Redemption of unsecured notes		(25,000,000)
Payments on mortgage loans	(2,609,861)	(6,633,624)	(107,237,891)
Payments of deferred financing costs	(1,560,680)	(106,950)	(3,816,848)
Distributions on general and limited partnership interests	(2,058,900)	(8,161,822)	(6,607,268)
Distributions on preferred partnership interests	(2,188,910)	(7,102,292)	(5,829,914)
Net cash provided by (used in) financing activities	22,300,749	(13,938,023)	78,887,316
Net increase (decrease) in cash, cash equivalents and restricted cash	7,316,310	(9,884,045)	4,439,239
Cash, cash equivalents and restricted cash at the beginning of the period	27,984,236	37,868,281	33,429,042
Cash, cash equivalents and restricted cash at the end of the period	35,300,546	27,984,236	37,868,281
Supplemental disclosures:
Cash paid during the period for interest	9,541,533	19,259,838	18,318,331
Cash paid (received) during the period for income taxes	(21,078)	(76,104)	173,753
Non-cash investing and financing activities:
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	542,102	347,269	$ 222,989
Transfer of accrued deferred interest from accounts payable and accrued liabilities to mortgage loans	$ 1,181,476
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
Exercise of development right		$ 3,940,000

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, 2017		$ 98,780,455	$ 586,725	$ 29,938,539		$ 37,766,531	$ 30,488,660
Balances, units, beginning at Dec. 31, 2017			158,570	15,698,401	2,910,000
Issuance of common partnership units		677,502	$ 6,775	$ 670,727
Issuance of common partnership units, number of units			1,306	129,241
Issuance of preferred units		1,005,063					1,005,063
Issuance of preferred stock, shares					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, 2020		47,947,559	$ (258,538)	$ (54,399,898)		37,766,531	36,461,955	$ 28,377,509
Balances, units, ending at Dec. 31, 2020			161,904	16,028,447	4,364,610
Balances, beginning at Dec. 31, 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 units		33,066,665		$ (279,077)			4,968,232	28,377,509
Issuance of preferred stock, shares					1,402,469
Amortization of restricted units award	$ 32,100	32,100	$ 321	31,779
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	15,840,512	4,364,610
Issuance of common partnership units		476,113	$ 4,761	$ 471,352
Issuance of common partnership units, number of units			1,898	187,935
Amortization of restricted units award	72,780	72,780	$ 728	$ 72,052
Unit based compensation		(199,677)	(1,997)	(197,680)
Preferred units distributions declared		(2,188,910)				(805,000)	(765,160)	(618,750)
Partnership units distributions declared		(2,088,161)	(19,271)	(2,068,890)
Net income (loss)	$ (53,682,905)	(53,682,905)	(558,718)	(55,313,097)		805,000	765,160	618,750
Balances, ending at Dec. 31, 2020		$ 47,947,559	$ (258,538)	$ (54,399,898)		$ 37,766,531	$ 36,461,955	$ 28,377,509
Balances, units, ending at Dec. 31, 2020			161,904	16,028,447	4,364,610

Organization and Description of

Organization and Description of Business	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Organization and Description of Business	1. Organization and Description of Business Sotherly Hotels Inc. (the “Company”) is a self-managed and self-administered lodging real estate investment trust (“REIT”) that was incorporated in Maryland on August 20, 2004. The Company historically has focused on the acquisition, renovation, upbranding and repositioning of upscale to upper-upscale full-service hotels in the southern United States. The Company’s portfolio, as of December 31, 2020, consists of investments in twelve hotel properties, comprising 3,156 rooms and two hotel commercial condominium units and their associated rental programs. Nine of our hotels operate under the Hilton, DoubleTree, Hyatt and Sheraton brands, and three are independent hotels. The Company commenced operations on December 21, 2004 when it completed its initial public offering (“IPO”) and thereafter consummated the acquisition of six hotel properties. Substantially all of the Company’s assets are held by, and all of its operations are conducted through, Sotherly Hotels LP, (the “Operating Partnership”). Pursuant to the terms of the Amended and Restated Agreement of Limited Partnership (the “Partnership Agreement”), the Company, as general partner, is not entitled to compensation for its services to the Operating Partnership. The Company, as general partner, conducts substantially all of its operations through the Operating Partnership and the Company’s administrative expenses are the obligations of the Operating Partnership. Additionally, the Company is entitled to reimbursement for any expenditure incurred by it on the Operating Partnership’s behalf. For the Company to qualify as a REIT, it cannot operate hotels. Therefore, the Operating Partnership, which, at December 31, 2020, was approximately 92.8% owned by the Company, and its subsidiaries, lease its hotels to direct and indirect subsidiaries of MHI Hospitality TRS Holding, Inc., MHI Hospitality TRS, LLC and certain of its subsidiaries, (collectively, “MHI TRS Entities”), each of which is a wholly-owned subsidiary of the Operating Partnership. For the years ended December 31, 2020, 2019, and 2018, the MHI TRS Entities engaged eligible independent hotel management companies, MHI Hotels Services, LLC, which does business as Chesapeake Hospitality (“Chesapeake Hospitality”); Highgate Hotels, L.P. (“Highgate Hotels”); and Our Town Hospitality, LLC (“Our Town”) to operate the hotels under management contracts. MHI Hospitality TRS Holding, Inc. is treated as a taxable REIT subsidiary (“TRS”) for federal income tax purposes. As of December 31, 2020, Our Town is the manager of each of our 12 wholly-owned hotels and our two condominium hotel rental programs. All references in these “Notes to Consolidated Financial Statements” to “we,” “us” and “our” refer to the Company, its Operating Partnership and its subsidiaries and predecessors, collectively, unless the context otherwise requires or where otherwise indicated. COVID-19, Management’s Plans and Liquidity In March 2020, the World Health Organization declared the novel coronavirus (“COVID-19”) to be a global pandemic and the virus has continued to spread throughout the United States and the world. As a result of this pandemic and subsequent government mandates and health official recommendations, hotel demand has been significantly reduced. Following the government mandates and health official recommendations, we significantly reduced operations at all of its hotels, temporarily suspended operations of our hotel condominium rental programs and dramatically reduced staffing and expenses. All of our hotels other than the rental programs at our condominium hotels, which were temporarily closed during April and May, have remained open on a limited basis in order to serve the needs of the community. We believed that maintaining limited operations would allow it to increase capacity at individual hotels as demand returns and the Centers for Disease Control (“CDC”) and state guidelines allow for an easing and eventual elimination of travel and other business restrictions, provided we can be confident that occupancy levels and reduced social distancing will not unduly jeopardize the health and safety of its guests, employees and communities. COVID-19 has had a significant negative impact on our operations and financial results, including a substantial decline in our revenues, profitability and cash flows from operations on a year-over-year basis. While the duration and full extent of the reduction in hotel demand caused by the pandemic, the contraction of operations at our hotels and other effects are highly uncertain and cannot be reasonably estimated at this time, we expect significant negative impacts on our operations and financial results to continue until travel and business restrictions are eased, travel orders are lifted, consumer confidence is restored and there is a sustained recovery in the economy. At a minimum, we expect the COVID-19 pandemic to continue to have a significant negative impact on our results of operations, financial position and cash flow through 2021. In response to those negative impacts, we took a number of actions to reduce costs and preserve liquidity. The Company’s board of directors suspended quarterly cash dividends on shares of the Company’s common stock and deferred payment of dividends on its 8.0 % Series B Cumulative Redeemable Perpetual Preferred Stock (the “Series B Preferred Stock”), 7.875 % Series C Cumulative Redeemable Perpetual Preferred Stock (the “Series C Preferred Stock”), and 8.25 % Series D Cumulative Redeemable Perpetual Preferred Stock (the “Series D Preferred Stock”). We also suspended most planned capital expenditure projects, and reduced the compensation of its executive officers, board of directors and employees. Working closely with its hotel managers, we significantly reduced its hotels’ operating expenses. The COVID-19 pandemic has also significantly increased economic uncertainty and led to disruption and volatility in the global capital markets, which limited our access to capital and increased the cost of capital it was seeking. As a result of the negative impacts of the pandemic and the ongoing market uncertainty, in April and May 2020, three of the Company’s wholly-owned subsidiaries sought and received funding under the federal Paycheck Protection Program (the “PPP”) provided in Section 7(a) of the Small Business Act of 1953, as amended by the Coronavirus Aid, Relief and Economic Security Act, as amended (the “CARES Act”). Pursuant to the terms of the loan agreements and promissory notes entered into with lenders under the PPP, we borrowed an aggregate amount of approximately $10.7 million (the “PPP Loans”). We also sought and obtained forbearance and loan modification agreements with lenders under the mortgages for certain of our hotel properties. As of December 31, 2020, we failed to make nine consecutive monthly payments of principal and interest under the mortgage secured by our DoubleTree Resort by Hilton Hollywood Beach hotel, which constituted an Event of Default, and which, pursuant to the terms of the mortgage loan agreement, may cause an increase in the interest rate on the outstanding loan balance for the period during which such Event of Default persists. Following an Event of Default, our lenders (including the lender under our DoubleTree Resort by Hilton Hollywood Beach mortgage) can generally elect to accelerate all principal and accrued interest payments that remain outstanding under the applicable mortgage loan and foreclose on the applicable hotel properties that are security for such loans. If the DoubleTree Resort by Hilton Hollywood Beach mortgage lender were to accelerate the payment of principal and interest on the applicable mortgage, we would likely not have sufficient funds to pay that mortgage debt. In addition, we failed to meet the financial covenants under the mortgage agreement which triggered a “cash trap” requiring substantially all the profit generated by our hotel to be deposited directly into a lockbox account and swept into cash management accounts for the benefit of the lender. We are currently negotiating an amendment to that loan agreement and has not received a Notice of Default. As of December 31, 2020, we failed to meet the financial covenants under the mortgages secured by each of the DoubleTree by Hilton Philadelphia Airport, the DoubleTree by Hilton Laurel, the Hotel Alba, and The Whitehall. We have received waivers of the financial covenants under the applicable mortgages from (i) the lender on the DoubleTree by Hilton Philadelphia Airport through March 31, 2021; (ii) the lender on the DoubleTree by Hilton Laurel as of December 31, 2020; (iii) the lender on the Hotel Alba mortgage through December 31, 2020, provided that we maintain the cash collateral on deposit with the lender; and (iv) the lender on The Whitehall mortgage through September 30, 2021. Cash collateral on deposit with the Hotel Alba lender was approximately $1.9 million as of December 31, 2020. As of December 31, 2020, we failed to meet the financial covenants under the mortgage secured by the DoubleTree by Hilton Jacksonville Riverfront and the Georgian Terrace, which triggered a “cash trap” under the loan documents relating to each of these properties requiring substantially all the profit generated by those hotels to be deposited directly into lockbox accounts and swept into cash management accounts for the benefit of the respective lenders until each property meets the criteria in the relevant loan agreement for exiting the “cash trap”. In addition, in order to receive forbearance from the lender on the DoubleTree by Hilton Raleigh Brownstone – University and the Hyatt Centric Arlington, we agreed to a “cash trap” until the property meets the criteria in the forbearance agreement for exiting the “cash trap”. On December 31, 2020, the Company entered into the following agreements with KWHP SOHO, LLC, a Delaware limited liability company (“KW”), as collateral agent and an investor, and MIG SOHO, LLC, a Delaware limited liability company (“MIG”, and together with KW, the “Investors”): (i) a Note Purchase Agreement with KW and MIG; (ii) a Secured Note with KW in the amount of $10.0 million and a Secured Note with MIG in the amount of $10.0 million; (iii) a Pledge and Security Agreement with KW; (iv) a Board Observer Agreement with KW; and (v) other ancillary agreements. These agreements constitute a transaction whereby the Investors purchased $20.0 million in Secured Notes from the Operating Partnership with an option to require the Investors to purchase an additional $10.0 million in Secured Notes on the certain terms and conditions. See Note 5 for additional detail. As of December 31, 2020, the Company had approximately $25.3 million in unrestricted cash and approximately $10.0 million in restricted cash. In addition, we have the option to obtain $10.0 million in additional proceeds from the sale of additional Secured Notes to the Investors as described above. While the duration and extent of the reduction in hotel demand caused by the pandemic creates corresponding uncertainty regarding our future cash flows, the Company believes it has sufficient liquidity to meet its obligations for operating expenses, planned capital expenditures and scheduled payments of principal and interest – including scheduled repayments of deferred principal and interest on our mortgage debt. However, the Company believes it is probable that over the course of the next four to six quarters it may fail to satisfy financial covenants in the above-described loans. If fails to obtain the requisite waivers, its lenders could declare in default and require repayment of the outstanding balances on the relevant mortgage loans. If that were to occur, may not have sufficient funds to pay the applicable mortgage debt. While believes it will be successful in obtaining waivers, forbearance arrangements and loan modifications, cannot provide assurance that it will be able to do so on acceptable terms or at all. U.S. generally accepted accounting principles (“U.S. GAAP”) requires that when preparing financial statements for each annual and interim reporting period, management has the responsibility to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt regarding the Company’s ability to continue as a going concern within one year after the date the financial statements are issued. Due to the uncertainties described above related to the financial covenants and maturities under our mortgage loans, and the Company’s ability to meet its contractual obligation to repay those loans, if accelerated or when due, the Company determined that there is substantial doubt about our ability to continue as a going concern. The consolidated financial statements have been prepared assuming that the Company will continue as a going concern and do not include any adjustments that might result from the outcome of this uncertainty. Significant Transactions Significant transactions occurring during the current and two prior fiscal years include the following: On February 1, 2018, the Company 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, the Company 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, the Company On July 2, 2018, the Company 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, the Company The Company On July 31, 2018, the Company The Company On August 31, 2018, the Company On September 18, 2018, the Company 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, the Company 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 26, 2019, the Company 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. The Company received PPP Loans administered by the U.S. Small Business Administration pursuant to the CARES Act. Each PPP Loan has a term of five years and carries an interest rate of 1.00%. Equal payments of principal and interest begin no later than 10 months following origination of the loan and are amortized over the remaining term of the loan. Pursuant to the terms of the CARES Act, the proceeds of each PPP Loan may be used for payroll costs, mortgage interest, rent or utility costs. The promissory note for each PPP Loan contains customary events of default relating to, among other things, payment defaults and breach of representations and warranties or of provisions of the relevant promissory note. Under the terms of the CARES Act, each borrower can apply for and be granted forgiveness for all or a portion of the PPP Loan. Such forgiveness will be determined, subject to limitations, based on the use of loan proceeds in accordance with the terms of the CARES Act. No assurance is provided that any borrower will obtain forgiveness under any relevant PPP Loan in whole or in part. On April 16, 2020, the Operating Partnership entered into a promissory note with Village Bank in connection with a PPP Loan and received proceeds of $333,500. On April 28, 2020, entered into a promissory note and received proceeds of $9,432,900 under a PPP Loan from Fifth Third Bank, National Association. On May 6, 2020, entered into a second promissory note with Fifth Third Bank, National Association and received proceeds of $952,700 under a PPP Loan

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation – The consolidated financial statements of the Company presented herein include all the accounts of Sotherly Hotels Inc., the Operating Partnership and the MHI TRS Entities. All significant inter-company balances and transactions have been eliminated. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. The consolidated financial statements of the Operating Partnership presented herein include all the accounts of Sotherly Hotels LP and the MHI TRS Entities. All significant inter-company balances and transactions have been eliminated. Additionally, all administrative expenses of the Company and those expenditures made by the Company on behalf of the Operating Partnership are reflected as the administrative expenses, expenditures and obligations thereto of the Operating Partnership, pursuant to the terms of the Partnership Agreement. Variable Interest Entities – The Operating Partnership is a variable interest entity. The Company’s only significant asset is its investment in the Operating Partnership, and consequently, substantially all of the Company’s assets and liabilities represent those assets and liabilities of the Operating Partnership and its subsidiaries. All of the Company’s debt is an obligation of the Operating Partnership and its subsidiaries. Investment in Hotel Properties – Investments in hotel properties include investments in operating properties which are recorded at fair value on acquisition date and allocated to land, property and equipment and identifiable intangible assets. Replacements and improvements are capitalized, while repairs and maintenance are expensed as incurred. Upon the sale or retirement of a fixed asset, the cost and related accumulated depreciation are removed from our accounts and any resulting gain or loss is included in the statements of operations. Expenditures under a renovation project, which constitute additions or improvements that extend the life of the property, are capitalized. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, generally 7 to 39 years for buildings and building improvements and 3 to 10 years for furniture, fixtures and equipment. Leasehold improvements are amortized over the shorter of the lease term or the useful lives of the related assets. The Company assesses the carrying values of its investments in hotel properties whenever events or changes in circumstances indicate that the carrying value of the hotel properties may not be recoverable. Events or circumstances that may cause a review include, but are not limited to, adverse permanent changes in the demand for lodging at the properties due to declining national or local economic conditions and/or new hotel construction in markets where the hotels are located. When such conditions exist, management performs an analysis to determine if the estimated undiscounted future cash flows from operations and the proceeds from the ultimate disposition of a hotel property exceeds its carrying value. If the estimated undiscounted future cash flows are found to be less than the carrying amount of the asset, an adjustment to reduce the carrying amount to the related hotel property’s estimated fair market value would be recorded and an impairment loss recognized. The COVID-19 pandemic has had, and is expected to continue to have, an adverse impact on the lodging and hospitality industries, which the Company considered to be a triggering event for each of its hotels during its impairment testing for the year ended December 31, 2020. The Company assessed the recoverability of each of its hotel properties which included a projection of future operating cash flows based upon significant assumptions regarding growth rates, occupancy, room rates, economic trends, property-specific operating costs, an allowance for the replacement of furniture, fixtures and equipment and projected cash flows from the eventual disposition of the hotel. The Company also projects cash flows from the eventual disposition of the hotel based upon property-specific capitalization rates. The Company determined that there were no impairments as of December 31, 2020. 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 – The Company consider all highly liquid investments with an original maturity of three months or less to be cash equivalents. Concentration of Credit Risk – The Company holds cash accounts at several institutions in excess of the Federal Deposit Insurance Corporation (the “FDIC”) protection limits of $250,000. Our exposure to credit loss in the event of the failure of these institutions is represented by the difference between the FDIC protection limit and the total amounts on deposit. Management monitors, on a regular basis, the financial condition of the financial institutions along with the balances there on deposit to minimize our potential risk. Restricted Cash – Restricted cash includes real estate tax escrows, insurance escrows and reserves for replacements of furniture, fixtures and equipment pursuant to certain requirements in our various mortgage agreements. Accounts Receivable – Accounts receivable consists primarily of hotel guest, banqueting and credit card receivables. Ongoing evaluations of collectability are performed and an allowance for potential credit losses is provided against the portion of accounts receivable that is estimated to be uncollectible. Inventories – Inventories, consisting primarily of food and beverages, are stated at the lower of cost or net realizable value, with cost determined on a method that approximates first-in, first-out basis. Franchise License Fees – Fees expended to obtain or renew a franchise license are amortized over the life of the license or renewal. The unamortized franchise fees as of December 31, 2020 and 2019 were approximately $353,872 and $413,354, respectively. Amortization expense for the years ended December 31, 2020, 2019, and 2018 was $59,482, $58,642 and $60,073, respectively. Deferred Financing Costs – Deferred financing costs are recorded at cost and consist of loan fees and other costs incurred in issuing debt and are reflected in mortgage loans, net and unsecured notes, net on the consolidated balance sheets. Deferred offering costs are recorded at cost and consist of offering fees and other costs incurred in advance of issuing equity and are reflected in prepaid expenses, inventory and other assets on the consolidated balance sheets. Amortization of deferred financing costs is computed using a method that approximates the effective interest method over the term of the related debt and is included in interest expense in the consolidated statements of operations. Derivative Instruments – Our derivative instruments are reflected as assets or liabilities on the consolidated balance sheet and measured at fair value. Derivative instruments used to hedge the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as an interest rate risk, are considered fair value hedges. Derivative instruments used to hedge exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. For a derivative instrument designated as a cash flow hedge, the change in fair value each period is reported in accumulated other comprehensive income in stockholders’ equity and partners’ capital to the extent the hedge is effective. For a derivative instrument designated as a fair value hedge, the change in fair value each period is reported in earnings along with the change in fair value of the hedged item attributable to the risk being hedged. For a derivative instrument that does not qualify for hedge accounting or is not designated as a hedge, the change in fair value each period is reported in earnings. We use derivative instruments to add stability to interest expense and to manage our exposure to interest-rate movements. To accomplish this objective, we currently use interest rate caps and an interest rate swap which act as cash flow hedges and are not designated as hedges. We value our interest-rate caps and interest rate swap at fair value, which we define as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). We do not enter into contracts to purchase or sell derivative instruments for speculative trading purposes. Fair Value Measurements – We classify the inputs used to measure fair value into the following hierarchy: Level 1 Unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 Unadjusted quoted prices in active markets for similar assets or liabilities, or unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs other than quoted prices that are observable for the asset or liability. Level 3 Unobservable inputs for the asset or liability. We endeavor to utilize the best available information in measuring fair value. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The following table represents our assets and liabilities measured at fair value and the basis for that measurement (our interest rate caps and interest rate swap are the only assets or liabilities measured at fair value on a recurring basis, there were no non-recurring assets or liabilities for fair value measurements as of Level 1 Level 2 Level 3 December 31, 2019 Interest Rate Caps (1) $ — $ 4,504 $ — Interest Rate Swap (2) $ — $ (2,064,709 ) $ — Mortgage loans (3) $ — $ (363,229,617 ) $ — December 31, 2020 Interest Rate Cap (1) $ — $ 208 $ — Interest Rate Swap (2) $ — $ (3,038,967 ) $ — Mortgage loans (3) $ — $ (364,112,622 ) $ — (1) Interest rate cap, which cap 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 outstanding principal balance, net of deferred financing costs on our Consolidated Balance Sheets as of December 31, 2020 and December 31, 2019. 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 $1,386,874, $1,456,550 and $1,638,408, for the years ended December 31, 2020, 2019, and 2018, 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, 2021 $ 1,097,841 December 31, 2022 1,050,968 December 31, 2023 1,054,554 December 31, 2024 1,062,652 December 31, 2025 1,071,332 December 31, 2026 and thereafter 7,159,742 Total $ 12,497,089 Lessee Accounting – On January 1, 2019, the Company adopted ASU No. 2016-02, , which relates to the accounting for lease arrangements. The Company’s operating lease agreements are primarily the ground lease on the Hyatt Centric Arlington, the parking garage lease in Hollywood, Florida at the Hyde Beach House, and the corporate office lease. The assets are classified as “right of use assets”, which represent our right to use an underlying asset and the operating lease liability, which represent our obligation to make lease payments arising from the lease, is classified within “accounts payable and other accrued liabilities”. Right of use assets and operating lease liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. Variable lease payments are excluded from the right of use assets and operating lease liabilities are recognized in the period in which the obligation for those payments is incurred. As our leases do not provide an implicit rate, we use our incremental borrowing cost based on information available at the commencement date using our actual borrowing rates commensurate with the lease terms and fully levered borrowing. Extension options on our leases are included in our minimum lease terms when they are reasonably certain to be exercised. Income Taxes – The Company has elected to be taxed as a REIT under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended. As a REIT, the Company generally will not be subject to federal income tax. The MHI TRS Entities which leases our hotels from subsidiaries of the Operating Partnership, are subject to federal and state income taxes. We account for income taxes using the asset and liability method under which deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. A valuation allowance is required for deferred tax assets if, based on all available evidence, it is “more-likely-than-not” that all or a portion of the deferred tax asset will or will not be realized due to the inability to generate sufficient taxable income in certain financial statement periods. The “more-likely-than-not” analysis means the likelihood of realization is greater than 50%, that we either will or will not be able to fully utilize the deferred tax assets against future taxable income. The net amount of deferred tax assets that are recorded on the financial statements must reflect the tax benefits that are expected to be realized using these criteria. As of December 31, 2020, we have determined that it is more-likely-than-not that we will not be able to fully utilize our deferred tax assets for future tax consequences, therefore a 100% valuation allowance is required. As of December 31, 2020 and 2019, deferred tax assets totaled $0 and $5,412,084, respectively. As of December 31, 2020, 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, 2020, the tax years that remain subject to examination by the major tax jurisdictions to which the Company is subject generally include 2016 through 2019. In addition, as of December 31, 2020, 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 2019. 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, 2020, under the 2013 Plan, the Company has made cumulative stock awards totaling 366,183 shares, including 168,600 non-restricted shares to certain executives, directors and employees, and 197,583 restricted shares issued to certain executives, directors and employees. All awards have vested except for 178,583 shares issued to certain executives, directors and employees, which will vest over the next 4 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, 2020, 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, 2020, 2019, and 2018 was $548,894, $124,433 and $135,428, respectively. Additionally, the Company sponsors and maintains an Employee Stock Ownership Plan (“ESOP”) and related trust for the benefit of its eligible employees. We reflect unearned ESOP shares as a reduction of stockholders’ equity. Dividends on unearned ESOP shares, when paid, are considered compensation expense. The Company recognizes compensation expense equal to the fair value of the Company’s ESOP shares during the periods in which they are committed to be released. For the years ended December 31, 2020, 2019, and 2018 the ESOP compensation cost was $175,367, $274,574 and $253,370, 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, to include internet advertising, were $1,351,538, $2,042,682 and $2,650,630 for the years ended December 31, 2020, 2019, and 2018, respectively and are expensed as incurred. Business Interruption Proceeds – Insurance recoveries for business interruption were recognized during the years ended December 31, 2020, 2019 and 2018, for $85,517, $29,747 and $838,630, 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 and proceeds from an electrical outage at our property in Houston, Texas the year before. The insurance proceeds were reflected in the statement of operations in other operating departments revenues. Involuntary Conversion of Assets – The Company record gains or losses on involuntary conversions of assets due to recovered insurance proceeds to the extent the undepreciated cost of a nonmonetary asset differs from the amount of monetary proceeds received. During the years ending December 31, 2020, 2019, and 2018, we recognized $179,856, $293,534 and $917,767, respectively, for gain on involuntary conversion of assets, which is reflected in the consolidated statements of operations. Comprehensive Income (Loss) – Comprehensive income (loss), as defined, includes all changes in equity (net assets) during a period from non-owner sources. The Company does not have any items of comprehensive income (loss) other than net income (loss). Segment Information – The Company has determined that our business is conducted in one reportable segment: hotel ownership. Use of Estimates – The preparation of the financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. New Accounting Pronouncements – In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform – Facilitation of the Effects of Reference Rate Reform on Financial Reporting , which provides temporary optional expedients and exceptions to the existing guidance on contract modifications and hedge accounting to ease the financial reporting burdens of the expected market transition from the London Interbank Offered Rate (“LIBOR”) and other interbank offered rates to alternative reference rates, such as the Secured Overnight Financing Rate (“SOFR”). The update provides guidance in accounting for changes in contracts, hedging relationships, and other transactions as a result of this reference rate reform. The option expedients and exceptions contained within this update, in general, only apply to contract amendments and modifications entered into prior to January 1, 2023. The provisions of this update will most likely affect our financial reporting process relating to modifications of contracts with lenders and the hedging contracts associated with each respective modified borrowing contract. In general, the provision of the update would benefit us by allowing modifications of debt contracts with lenders that fall under the guidance of ASC Topic 740 to be accounted for as a non-substantial modification and not be considered debt extinguishment. As of December 31, 2020, the Company have not entered into any contract modification as it directly relates to reference rate reform, with the exception of a modification to the mortgage on the Whitehall in Houston, Texas, which changed the reference rate from LIBOR to the New York Prime Rate. The Company anticipates having to undertake more modifications in the future. While the Company anticipates the impact of this update may be to its benefit, the Company is still evaluating the overall impact.

Acquisition of Hotel Property

Acquisition of Hotel Property	12 Months Ended
	Dec. 31, 2020
Business Combinations And Or Asset Acquisitions [Abstract]
Acquisition of Hotel Property	3. Acquisition of Hotel Property 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 . The results of operations of the condominium hotel is 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 January 1, 2020 to December 31, 2020 are approximately $1.8 million and $1.3 million, respectively and total revenue and net income 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 allocation of the purchase price based on their fair values was as follows: Hyde Beach House Land and land improvements $ 500 Buildings and improvements 5,564,219 Furniture, fixtures and equipment 347,621 Favorable lease and other intangible assets — Investment in hotel properties 5,912,340 Accrued liabilities and other costs — Prepaid expenses, inventory and other assets 434,038 Net cash $ 6,346,378

Investment in Hotel Properties,

Investment in Hotel Properties, Net	12 Months Ended
	Dec. 31, 2020
Real Estate [Abstract]
Investment in Hotel Properties, Net	4. Investment in Hotel Properties, Net Investment in hotel properties as of December 31, 2020 and 2019 consisted of the following: December 31, 2020 December 31, 2019 Land and land improvements $ 66,088,705 $ 66,031,443 Buildings and improvements 442,063,950 438,268,174 Right of use assets 5,995,438 6,452,259 Furniture, fixtures and equipment 55,796,797 55,392,434 569,944,891 566,144,310 Less: accumulated depreciation and impairment (142,120,306 ) (122,876,862 ) Investment in Hotel Properties, Net $ 427,824,585 $ 443,267,448 Our review of possible impairment during the years ended December 31, 2020 and 2019, resulted in no impairment on our investment in hotel properties, respectively.

Debt

Debt	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Debt	5. Debt Mortgage Loans, Net. As of December 31, 2020 and 2019, the Company had approximately $357.5 million and approximately $358.6 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 2020 2019 Penalties Date Provisions Rate The DeSoto (1) $ 32,820,733 $ 32,967,166 Yes 7/1/2026 25 years 4.25% DoubleTree by Hilton Jacksonville Riverfront (2) 33,655,483 34,225,971 Yes 7/11/2024 30 years 4.88% DoubleTree by Hilton Laurel (3) 8,654,754 8,534,892 Yes 8/5/2021 25 years 5.25% DoubleTree by Hilton Philadelphia Airport (4) 41,804,700 41,419,590 None 10/31/2023 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 2.27% DoubleTree Resort by Hilton Hollywood Beach (6) 55,878,089 56,057,218 (6) 10/1/2025 30 years 4.913% Georgian Terrace (7) 42,507,512 43,335,291 (7) 6/1/2025 30 years 4.42% Hotel Alba Tampa, Tapestry Collection by Hilton (8) 17,946,480 18,000,104 None 6/30/2022 (8) LIBOR plus 2.27% Hotel Ballast Wilmington, Tapestry Collection by Hilton (9) 33,259,067 33,401,622 Yes 1/1/2027 25 years 4.25% Hyatt Centric Arlington (10) 48,990,136 49,173,836 Yes 9/18/2028 30 years 5.25% Sheraton Louisville Riverside (11) 11,037,086 11,114,145 Yes 12/1/2026 25 years 4.27% The Whitehall (12) 14,697,830 14,450,420 Yes 2/26/2023 25 years PRIME plus 1.25% Total Mortgage Principal Balance $ 359,551,870 $ 360,980,255 Deferred financing costs, net (2,122,822 ) (2,487,982 ) Unamortized premium on loan 116,929 141,611 Total Mortgage Loans, Net $ 357,545,977 $ 358,633,884 (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 the Company entered into a swap agreement to fix the rate at 5.237%. Under the swap agreement, notional amounts approximate the declining balance of the original loan and the Company is responsible for any potential termination fees associated with early termination of the swap agreement. (5) The note provided 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. The Company 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 New York Prime Rate plus 1.25% and is subject to prepayment penalty of 3.0% if prepaid on or before April 12, 2021, 2.0% if prepaid after April 12, 2021 and 1.0% if prepaid after April 12, 2022 but on or before November 26, 2022. Mortgage Forbearance Agreements. During 2020, the Company entered into various forbearance and loan modification agreements with the lenders for our mortgage loans secured by our hotels. Below is a summary of those agreements for each hotel. The DeSoto The lender has agreed to the following: (a) deferral of scheduled principal payments due from April 1, 2020 to February 1, 2021; (b) a payment of interest only on March 1, 2021; (c) waiver of FF&E requirement until March 1, 2021; (d) deferred principal and interest are due and payable at maturity; and (e) payment of up to 5.0% of the indebtedness under the loan is guaranteed by the Operating Partnership. The maturity date under the loan modification remains unchanged. DoubleTree by Hilton Jacksonville Riverfront The lender has agreed to the following: (a) the April, May, and June 2020 principal and interest payments were paid out of FF&E reserves; (b) FF&E deposits were deferred for the April, May, and June 2020 payment dates; and (c) released FF&E and the deferred FF&E was repaid in 6 monthly installments ending with the December 2020 DoubleTree by Hilton Laurel The lender has agreed to the following: (a) deferral of scheduled payments of principal and interest due from April 1, 2020 to September 30, 2020; (b) subsequent payments are required to be applied first toward current and deferred interest and then toward principal; (c) any deferred principal is due and payable at maturity; and (d) deferral of principal payments through March 31, 2021. The maturity date under the loan modification remains unchanged. DoubleTree by Hilton Philadelphia Airport The lender has agreed to the following: (a) deferral of scheduled principal and interest under the note as well as the interest-rate swap due from April 1, 2020 to June 30, 2020; (b) July 1, 2020 payment of regular principal and interest; (c) deferred principal is due and payable at maturity; and (d) subsequent to September 30, 2020, deferral of principal, interest, and swap payments for August, September and October, and deferral of principal payments through January 2021 3 months DoubleTree by Hilton Raleigh-Brownstone University The lender has agreed to the following: (a) deferral of scheduled interest payments due from April 1, 2020 to July 31, 2021; (b) a one-time fee of $236,375 to be applied to deferred interest; and (c) remainder of deferred interest, along with additional accrued interest on interest, is due and payable by August 1, 2021. DoubleTree Resort by Hilton Hollywood Beach We are currently negotiating an amendment to that loan agreement and have not received a Notice of Default. Georgian Terrace The lender agreed to the release of FF&E reserves to fund up to 50% of debt service, taxes, and operating expenses. Hotel Alba Tampa The lender agreed to the deferral of scheduled payments of principal due from April 1, 2020 to June 30, 2021. Hotel Ballast Wilmington The lender has agreed to the following: (a) deferral of scheduled principal payments due from April 1, 2020 to March 1, 2021; (b) deferral of scheduled payments of interest from April 1, 2020 to September 1, 2020; (c) waiver of FF&E requirement until March 1, 2021; (d) deferred principal and interest will be due and payable at maturity; and (e) payment of up to 5.0% of the indebtedness under the loan is guaranteed by the Operating Partnership. The maturity date under the loan modification remains unchanged. Hyatt Centric Arlington The lender has agreed to the following: (a) deferral of scheduled payments of principal and interest due from April 1, 2020 to March 31, 2021; (b) deferral of scheduled payments of principal due from April 1, 2021 to December 31, 2021; (c) a one-time fee of $100,000; (d) loan balance to be re-amortized as of January 1, 2022; and (e) deferred principal and interest, along with additional accrued interest on interest, is due and payable by July 1, 2022. Sheraton Louisville Riverside The lender has agreed to the following: (a) deferral of scheduled payments of interest due from May 1, 2020 to July 1, 2020; (b) deferral of scheduled payments of principal due from May 1, 2020 to April 1, 2021; (c) subsequent payments are required to be applied first toward current and deferred interest and then toward principal; and (d) any deferred principal is due and payable at maturity. The maturity date under the loan modification remains unchanged. The Whitehall The lender has agreed to the following: (a) deferral of scheduled payments of principal due from April 1, 2020 to January 31, 2021; (b) deferral of schedule payments of interest from April 1, 2020 to October 12, 2020; (c) deferred payments will be added to the principal balance of the loan and subsequent payments will be calculated based on the remainder of the amortization period; (d) the interest rate is changed from LIBOR plus 3.50% to New York Prime Rate plus 1.25%; and (e) the prepayment penalty is changed to: (i) 3.0% if prepaid on or before April 12, 2021; (ii) 2.0% if prepaid after April 12, 2021 but on or before April 12, 2022; (iii) 1.0% if prepaid after April 12, 2022 but on or before November 26, 2022; and (iv) no prepayment fee if prepaid after November 26, 2022. The maturity date under the loan modification remains unchanged. As of December 31, 2020, the Company failed to make nine consecutive monthly payments of principal and interest under the mortgage secured by our DoubleTree Resort by Hilton Hollywood Beach hotel, which constituted an Event of Default and which, pursuant to the terms of the mortgage loan agreement, may cause an increase in the interest rate on the outstanding loan balance for the period during which such Event of Default persists. Following an Event of Default, the Company’s lenders can generally elect to accelerate all principal and accrued interest payments that remain outstanding under the applicable mortgage loan and foreclose on the applicable hotel property that secures such loan. In addition, the Company failed to meet the financial covenants under the mortgage agreement which triggered a “cash trap” requiring substantially all the profit generated by that hotel to be deposited directly into a lockbox account and swept into cash management accounts for the benefit of the lender. The Company is currently negotiating an amendment to the loan agreement and have not received a Notice of Default. As of December 31, 2020, the Company failed to meet the financial covenants under the mortgages secured by the DoubleTree by Hilton Philadelphia Airport, the DoubleTree by Hilton Laurel, the Hotel Alba, and The Whitehall. has received waivers of the financial covenants from the lender on the DoubleTree by Hilton Philadelphia Airport through March 31, 2021, from the lender on the DoubleTree by Hilton Laurel as of December 31, 2020, from the lender on the Hotel Alba mortgage through December 31, 2020, provided that maintains the cash collateral on deposit with the lender, and from the lender on The Whitehall mortgage through September 30, 2021. Cash collateral on deposit with the Hotel Alba lender was approximately $1.9 million as of December 31, 2020. Total future mortgage debt maturities, without respect to any extension of loan maturity, as of December 31, 2020 were as follows: For the twelve months ending December 31, 2021 14,740,992 December 31, 2022 42,240,755 December 31, 2023 61,215,532 December 31, 2024 37,476,056 December 31, 2025 93,219,331 December 31, 2026 and thereafter 110,659,204 Total future maturities $ 359,551,870 PPP Loans . The Operating Partnership and certain of its subsidiaries have received PPP Loans administered by the U.S. Small Business Administration pursuant to the CARES Act. Each PPP Loan has a term of five years and carries an interest rate of 1.00%. Equal payments of principal and interest begin no later than 10 months following origination of the loan and are amortized over the remaining term of the loan. Pursuant to the terms of the CARES Act, the proceeds of each PPP Loan may be used for payroll costs, mortgage interest, rent or utility costs. The promissory note for each PPP Loan contains customary events of default relating to, among other things, payment defaults and breach of representations and warranties or of provisions of the relevant promissory note. Under the terms of the CARES Act, each borrower can apply for and be granted forgiveness for all or a portion of the PPP Loan. Such forgiveness will be determined, subject to limitations, based on the use of loan proceeds in accordance with the terms of the CARES Act. No assurance is provided that any borrower will obtain forgiveness under any relevant PPP Loan in whole or in part. On April 16, 2020, the Operating Partnership entered into a promissory note with Village Bank in connection with a PPP Loan and received proceeds of $333,500. On April 28, 2020, the Company entered into a promissory note and received proceeds of $9,432,900 under a PPP Loan from Fifth Third Bank, National Association. On May 6, 2020, the Company entered into a second promissory note with Fifth Third Bank, National Association and received proceeds of $952,700 under a PPP Loan. Secured Notes Financing . On December 31, 2020, we entered into the following agreements with KW, as collateral agent and an investor, and MIG, as an investor: (i) a Note Purchase Agreement with KW and MIG; (ii) a Secured Note with KW in the amount of $10.0 million and a Secured Note with MIG in the amount of $10.0 million; (iii) a Pledge and Security Agreement with KW; (iv) a Board Observer Agreement with KW; and (v) other ancillary agreements. These agreements constitute a transaction whereby the Investors purchased $20.0 million in Secured Notes from the Operating Partnership with an option to require the Investors to purchase an additional $10.0 million in Secured Notes on the terms and subject to the conditions described below. Note Purchase Agreement On December 31, 2020, the Operating Partnership and the Company entered into the Note Purchase Agreement with KW and MIG, pursuant to which: (i) we agreed to issue and sell, and the Investors agreed to purchase, the Secured Notes with an aggregate face amount of US $20 million and on the terms described below; (ii) KW and MIG granted us an option, subject to certain conditions and exercisable by us on or before the first anniversary of the first closing date, pursuant to which we may issue and sell a second note to each of the Investors with an aggregate face amount of $10.0 million on substantially the same terms as the initial Secured Notes; (iii) the Company agreed to fully and unconditionally guaranty the obligations of the Operating Partnership; (iv) we entered into the Pledge Agreement and Board Observer Agreement as described below; (v) we agreed to provide certain representations and warranties to the Investors; and (vi) we agreed to use the net proceeds to support the continued operation of the business conducted by the Operating Partnership. We were required to pay a 1% origination fee on the amount of the initial Secured Notes in connection with the first closing and a 1% commitment fee on the committed amount of the Second Secured Notes. Secured Notes On December 31, 2020, the Operating Partnership issued and sold initial Secured Notes to the Investors in the amount of $20.0 million. The Secured Notes: (i) have a maturity date of December 30, 2023, with a one-year pari passu with other notes issued under the Note Purchase Agreement and senior to all other indebtedness of the Operating Partnership. The Secured Notes requires us to maintain certain cash management standards and include a broad range of covenants restricting our ability to incur additional debt, make dividend payments, transfer or acquire assets, or exceed our 2019 employee compensation levels. They also require us to maintain certain financial thresholds, including limitations on our accounts payable and capital expenditures. Upon an event of default or liquidity event described in the Secured Notes, the holders of the Secured Notes have the right to require and approve our selection of one or more of our hotel properties for disposition or refinancing in order to cure an event of default or liquidity event based on a process set forth in the Secured Notes. In addition, the Secured Notes are redeemable by the holder in full upon an event of default or a change of control transaction. Pledge Agreement On December 31, 2020, certain subsidiaries of the Operating Partnership entered into the Pledge Agreement with KW, pursuant to which we agreed to pledge and grant to KW a first priority security interest in the equity interests, including certain voting rights, of our affiliates that own The DeSoto hotel, Hotel Ballast Wilmington, and the DoubleTree by Hilton Philadelphia Airport hotel. Upon an uncured monetary event of default under the Secured Notes, KW, as collateral agent, has a right to sell, lease or otherwise dispose of or realize upon the Pledged Collateral in order to satisfy any amounts outstanding under the Secured Notes.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2020
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 five-year We lease, as landlord, the entire fourteenth floor of the Savannah hotel property to The Chatham Club, Inc. under a ninety-nine- year We lease land adjacent to the Hotel Alba Tampa, Tapestry Collection by Hilton for use as parking under a five-year 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, 2020, 2019, and 2018 was $ 2,604 , $ 2,152 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, and 2018 was $107,936 and $96,117, respectively. We lease approximately 8,500 square feet of commercial office space in Williamsburg, Virginia under an agreement with a ten-year We lease the land underlying all of the Hyatt Centric Arlington hotel pursuant to a ground lease. The ground lease requires us to make rental payments of $50,000 per year in base rent and percentage rent equal to 3.5% of gross room revenue in excess of certain thresholds, as defined in the ground lease agreement. The initial term of the ground lease expires in 2025. We have exercised our option on the first of five renewal periods of 10 years each. Rent expense for the years ended December 31, 2020, 2019, and 2018, was $153,019, $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 2039 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: For the twelve months ending December 31, 2021 $ 597,502 December 31, 2022 653,742 December 31, 2023 621,452 December 31, 2024 632,935 December 31, 2025 583,461 December 31, 2026 and thereafter 14,754,214 Total $ 17,843,306 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, 2020, all twelve of our wholly-owned hotels operated under management agreements with Our Town (see Note 9). The management agreements expire on March 31, 2025 and may be extended for up to two additional periods of five years each, subject to the approval of both parties. Each of the individual hotel management agreements may be terminated earlier than the stated term upon the sale of the hotel covered by the respective management agreement, in which case we may incur early termination fees. As of April 1, 2020, the DoubleTree Resort by Hilton Hollywood Beach and the rental program and condominium association of the Hyde Resort & Residences and the Hyde Beach House Resort & Residences operated under management agreements with Our Town. As of October 14, 2020, we entered into a hotel management agreement, effective as of November 15, 2020, with Our Town for the management of the Hyatt Centric Arlington. On November 15, 2020, the management of the Hyatt Centric Arlington was transitioned from Highgate Hotels, L.P. to Our Town. Following the transition, Our Town manages each of the Company’s twelve wholly-owned hotels, as well as our two condominium hotel rental programs As of December 31, 2020, we had entered into individual hotel management agreements with Our Town for the management of twelve of our wholly-owned hotels. Each of these management agreements have initial terms commencing January 1, April 1 and November 15, 2020, respectively and all agreements expire 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, 2020, 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 November 2021 and March 2038 . Each of our franchise agreements provides for early termination fees in the event the agreement is terminated before the stated term. Restricted Cash Reserves – Each month, we are required to escrow with the lenders on the Hotel Ballast, The DeSoto, the DoubleTree by Hilton Raleigh Brownstone-University, the DoubleTree by Hilton Jacksonville Riverside, the DoubleTree Resort by Hilton Hollywood Beach, the Hyatt Centric Arlington and the Georgian Terrace an amount equal to one-twelfth (1/12) of the annual real estate taxes due for the properties. We are also required by several of our lenders to establish individual property improvement funds to cover the cost of replacing capital assets at our properties. Each month, those contributions equal 4.0% of gross revenues for the Hotel Ballast, The DeSoto, the DoubleTree by Hilton Raleigh Brownstone–University, the DoubleTree by Hilton Jacksonville Riverside, the DoubleTree Resort by Hilton Hollywood Beach, The Whitehall and the Georgian Terrace and equal 4.0% of room revenues for the DoubleTree by Hilton Philadelphia Airport and the Hyatt Centric Arlington ESOP Loan Commitment – The Company’s board of directors approved the ESOP on November 29, 2016, which was adopted by the Company in December 2016 and effective January 1, 2016. The ESOP is a non-contributory defined contribution plan covering all employees of the Company. The ESOP is a leveraged ESOP, meaning the contributed funds are loaned to the ESOP from the Company. The Company entered into a loan agreement with the ESOP on December 29, 2016, pursuant to which the ESOP may borrow up to $5.0 million to purchase shares of the Company’s common stock on the open market. Under the loan agreement, the aggregate principal amount outstanding at any time may not exceed $5.0 million and the ESOP may borrow additional funds up to that limit in the future, until December 29, 2036. 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 adverse impact on our financial condition or results of operations or cash flows.

Preferred Stock and Units

Preferred Stock and Units	12 Months Ended
	Dec. 31, 2020
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, 2020 December 31, 2019 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 1,554,610 $ 0.492188 Series D Preferred Stock 8.250 % $ 25.00 1,200,000 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. As previously announced, the record dates for the dividends on the Company’s Series B Preferred Stock, Series C Preferred Stock, and Series D Preferred Stock that were to be paid April 15, 2020 to shareholders of record as of March 31, 2020 have each been declared and the record date and the payment of dividends on all classes of the Company’s preferred stock has been deferred. As of December 31, 2020, there are undeclared and cumulative preferred dividends, of approximately $6.6 million. 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, the Company 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. 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, 2020 December 31, 2019 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 1,554,610 $ 0.492188 Series D Preferred Units 8.250 % $ 25.00 1,200,000 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. The Company, which is the holder of the Operating Partnership’s preferred units is entitled to receive distributions when authorized by the Operating Partnership’s general partner out of assets legally available for the payment of distributions. The preferred units are not redeemable by the holder, has no maturity date and is not convertible into any other security of the Operating Partnership or its affiliates. As previously announced, the record dates for the dividends on the Operating Partnership’s Series B Preferred Units, Series C Preferred Units, and Series D Preferred Units that were to be paid April 15, 2020 to unitholders of record as of March 31, 2020 have each been declared and the record date and the payment of dividends on all classes of the Operating Partnership’s preferred units has been deferred. As of December 31, 2020, there are undeclared and cumulative preferred distributions to the Company from the Operating Partnership of approximately $6.6 million. 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. The following table presents the quarterly distributions by the Operating Partnership declared and payable per Quarter Ended 2018 2019 2020 March 31, $ 0.500000 $ 0.500000 $ 0.500000 June 30, $ 0.500000 $ 0.500000 $ — September 30, $ 0.500000 $ 0.500000 $ — December 31, $ 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, 2020, 2019, and 2018: Quarter Ended 2018 2019 2020 March 31, $ 0.492188 $ 0.492188 $ 0.492188 June 30, $ 0.492188 $ 0.492188 $ — September 30, $ 0.492188 $ 0.492188 $ — December 31, $ 0.492188 $ 0.492188 $ — (1) 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, 2020, 2019, and 2018: Quarter Ended 2018 2019 2020 March 31, $ — $ — $ 0.515625 June 30, $ — $ 0.418230 (1) $ — September 30, $ — $ 0.515625 $ — December 31, $ — $ 0.515625 $ — (1) 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. As of December 31, 2020, there were unpaid preferred dividends and distributions of $2,188,910.

Common Stock and Units

Common Stock and Units	12 Months Ended
	Dec. 31, 2020
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. Authorization for the repurchase program expired on December 31, 2020. Cumulative through December 31, 2020 the Company repurchased 882,820 shares of common stock for approximately $5.9 million and the repurchased shares have been returned to the status of authorized but unissued shares of common stock. The following is a list of issuances during the years ended December 31, 2020, 2019, and 2018 of the Company’s common stock: On December 17, 2020, The Company issued 127,583 units in the Operating Partnership and awarded shares of restricted stock to its independent directors and employees. On December 1, 2020, one holder of units in the Operating Partnership redeemed 15,000 units for an equivalent number of shares in the Company’s common stock On May 1, 2020, one holder of units in the Operating Partnership redeemed 57,687 units for an equivalent number of shares in the Company’s common stock. On February 23, 2020, the Company was issued 17,250 units in the Operating Partnership and awarded 15,000 shares of restricted stock and 2,250 shares of unrestricted stock to its independent directors. On January 1, 2020, two holders of units in the Operating Partnership redeemed 488,952 units for an equivalent number of shares in the Company’s common stock. On January 1, 2020, the Company was issued 45,000 units in the Operating Partnership and awarded 45,000 shares of restricted stock to two of its employees . 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. As of December 31, 2020 and 2019, the Company had 15,023,850 and 14,272,378 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, 2020 and 2019, the total number of Operating Partnership units outstanding was 16,190,351 and 16,000,518, respectively. As of December 31, 2020 and 2019, the total number of outstanding units in the Operating Partnership not owned by the Company was 1,166,501 and 1,728,140, respectively, with a fair market value of approximately $2.9 million and approximately $11.7 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, 2020, 2019, and 2018: Quarter Ended 2018 2019 2020 March 31, $ 0.115 $ 0.125 $ 0.130 June 30, $ 0.120 $ 0.130 - September 30, $ 0.125 $ 0.130 - December 31, $ 0.125 $ 0.130 - As of December 31, 2020, there were unpaid common dividends and distributions to holders of record as of March 13, 2020 in the amount of $2,088,161

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2020
Related Party Transactions [Abstract]
Related Party Transactions	9. Related Party Transactions Our Town Hospitality. Our Town is currently the management company for each of our twelve wholly-owned hotels, as well as the manager of our rental programs at the Hyde Resort & Residences and the Hyde Beach House Resort & Residences. Our Town is a majority-owned subsidiary of Newport Hospitality Group, Inc (“Newport”). As of December 31, 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 Accounts Receivable – At December 31, 2020 and 2019, we were due approximately $0.7 million and $0.6 million, respectively, from Our Town Hospitality. Management Agreements – On September 6, 2019, the Company 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 for the management of those ten of our hotels. On April 1, 2020, Our Town became the manager of our DoubleTree Resort by Hilton Hollywood Beach hotel, as well as the manager for our rental programs at the Hyde Resort & Residences and the Hyde Beach House Resort & Residences. On November 15, 2020, Our Town became the manager of our Hyatt Centric Arlington hotel. The hotel management agreements for each of our 12 wholly-owned hotels and the two rental programs are referred to as, individually an “OTH Hotel Management Agreement” and, together the “OTH Hotel Management Agreements”. The Company agreed to provide Our Town with initial working capital of up to $1.0 million as an advance on the management fees that we will owe to Our Town under the OTH Hotel Management Agreements. The advanced funds were to be offset against future management fees otherwise payable to Our Town by means of a 25% reduction in such fees each month during 2020. Any management fee advances not recouped in such fashion were to be deemed satisfied at the end of 2020. With the onset of the COVID-19 pandemic, unreimbursed management fees totaled approximately $0.6 million. The Company expects to recoup the remaining unreimbursed advance. 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. For the years ended December 31, 2020 and 2019, the management fees earned by Our Town under the contract were approximately $1.5 million and $0, respectively. Sublease – On December 13, 2019, we entered into a sublease agreement with Our Town pursuant to which Our Town subleases 2,245 square feet of office space from Sotherly for a period of 5 years, with a 5-year renewal subject to approval by Sotherly, on terms and conditions similar to the terms of the prime lease entered into by Sotherly and the third-party owner of the property. For the years ended December 31, 2020 and 2019, the Company received rent income from Our Town of approximately $158,454 and $0, respectively. Credit Agreement – On December 13, 2019, we entered into a credit agreement with Our Town effective January 1, 2020, pursuant to which Sotherly agreed to provide Our Town with a working capital line of credit, the agreement, as amended, allows Our Town to borrow up to $850,000. Our Town was allowed to draw against the line of credit from time to time prior to January 1, 2021. Interest accrues 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, the Company has the right to offset any outstanding unpaid balance against amounts it owes to Our Town under the OTH Hotel Management Agreements. As of December 31, 2020 and 2019, the outstanding credit balance under the credit agreement was each approximately $0.6 million and $0, respectively. Employee Medical Benefits – We purchase employee medical benefits through Our Town (or its affiliate) for those employees that are employed by Our Town that work exclusively for our properties, starting January 1, 2020. For the years ended December 31, 2020 and 2019, the employer portion of the plan covering those employees that work exclusively at our properties under our management agreements with Our Town was approximately $2.9 million and $0, respectively. 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, Andrew M. Sims. As of December 31, 2020, Andrew M. Sims, Kim E. Sims and Christopher L. Sims, beneficially owned, directly or indirectly, approximately 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, 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, 2020 and 2019, we were due $0 and $81,223, respectively, from Chesapeake Hospitality. Management Agreements – Chesapeake Hospitality was the management company for our DoubleTree Resort by Hilton Hollywood Beach hotel, the Hyde Resort & Residences, and the Hyde Beach House Resort & Residences until April 1, 2020. Effective April 1, 2020, Chesapeake no longer serves as manager for any of our properties and management of the remaining properties that had been managed by Chesapeake was transitioned to Our Town. Upon termination of the last remaining individual hotel management agreements with Chesapeake, the Chesapeake master agreement automatically terminated in accordance with its terms. Prior to January 1, 2020, Chesapeake Hospitality was the manager for each of our hotels that we wholly-owned at December 31, 2020 and 2019, with the exception of the Hyatt Centric Arlington, under various hotel management agreements. On January 1, 2020, the management agreements for ten of our wholly-owned hotels expired. Those hotels are now managed by Our Town as described above. In connection with the termination of those ten Chesapeake management agreements, we paid approximately $0.2 million in termination fees. 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 terminated master agreement had an initial term of five-years Base management fees earned by Chesapeake Hospitality totaled $241,332, $4,803,185 and $4,617,471 for the years ended December 31, 2020, 2019, and 2018, respectively. In addition, incentive management fees of $(40,375), $164,168 and $168,231 were expensed for the years ended December 31, 2020, 2019, and 2018, 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 worked 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 approximately $0.2 million, $5.6 million and $5.1 million for the years ended December 31, 2020, 2019, and 2018, respectively. Workers’ Compensation Insurance – Prior to January 1, 2020, pursuant to our management agreements with Chesapeake Hospitality, we paid 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 worked exclusively for the properties managed by Chesapeake Hospitality. For the years ended December 31, 2020, 2019, and 2018, we paid approximately $0.1 million, $1.0 million and $0.9 million, respectively, in premiums for the portion of the plan covering those employees that worked exclusively for our properties under our management agreements with Chesapeake Hospitality. Other Related Parties – The Company employs Andrew M. Sims, Jr. the son of our Chairman, who currently serves as Vice President – Operations & Investor Relations; Ashley S Kirkland, daughter of our Chairman, as Corporate Counsel and Compliance Officer; and Robert E. Kirkland IV, Ms. Kirkland’s husband, who currently serves as General Counsel, as employees. Compensation, including benefits, for the years ended December 31, 2020, 2019, and 2018 totaled $464,218, $415,005 and $386,456, respectively. On May 1, 2020 and October 1, 2019, one previous member of our Board of Directors redeemed 57,867 units and 50,000 units, respectively, for an equivalent number of shares of the Company’s common stock, pursuant to the terms of the partnership agreement. On January 1, 2020, another previous member of our Board of Directors redeemed 410,000 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, 2020, 2019, and 2018, the Company reimbursed $0, $119,907 and $146,105, respectively, to a partnership controlled by our Chairman, 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, 2020
Compensation And Retirement Disclosure [Abstract]
Retirement Plans	10. Retirement Plans 401(k) Plan - The Company maintain a 401(k) plan for qualified employees. Prior to May 16, 2020, the plan was subject to “safe harbor” provisions requiring that we match 100.0% of the first 3.0% of employee contributions and 50.0% of the next 2.0% of employee contributions. All employer matching funds vested immediately in accordance with the “safe harbor” provisions. Contributions to the plan for the years ended December 31, 2020, 2019, and 2018 were $42,841, $72,438 and $71,623, respectively. Employee Stock Ownership Plan - The Company adopted an ESOP effective January 1, 2016, which is a non-contributory defined contribution plan covering all employees of the Company. The ESOP is a leveraged ESOP, with funds loaned to the ESOP from the Company. The Company entered into a loan agreement with the ESOP on December 29, 2016, pursuant to which the ESOP may maintain aggregate borrowings of up to $5.0 million to purchase shares of the Company’s common stock on the open market, which serve as collateral for the loan. Coincident with the loan between the Company and the ESOP, the Operating Partnership entered into a loan with the Company to facilitate borrowings between the Company and the ESOP. Between January 3, 2017 and February 28, 2017, the Company’s ESOP purchased 682,500 shares of the Company’s common stock of an aggregate cost of approximately $4.9 million. Shares purchased by the ESOP are held in a suspense account for allocation among participants as contributions are made to the ESOP by the Company. The share allocations are accounted for at fair value on the date of allocation. A total of 170,419 and 104,672 shares with a fair value of $426,048 and $709,676 remained allocated or committed to be released from the suspense account as of December 31, 2020 and 2019, respectively. The Company recognized compensation cost of $175,367, $219,645 and $209,263 during the twelve months ended December 31, 2020, 2019 and 2018, respectively. The remaining 509,069 unallocated shares have an approximate fair value of $1.3 million, as of December 31, 2020. At December 31, 2020, the ESOP held a total of 170,419 allocated shares, no committed-to-be-released shares and 509,069 unallocated shares. Dividends received by the ESOP on allocated and unallocated shares are used to pay down the loan from the Company. The share allocations are accounted for at fair value on the date of allocation as follows: December 31, 2020 December 31, 2019 Number of Shares Fair Value Number of Shares Fair Value Allocated shares 170,419 $ 426,048 66,295 $ 449,480 Committed to be released shares - - 38,377 260,196 Total Allocated and Committed-to-be-Released 170,419 $ 426,048 104,672 $ 709,676 Unallocated shares 509,069 1,272,672 574,816 3,897,252 Total ESOP Shares 679,488 $ 1,698,720 679,488 $ 4,606,928

Indirect Hotel Operating Expens

Indirect Hotel Operating Expenses	12 Months Ended
	Dec. 31, 2020
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: 2020 2019 2018 Sales and marketing $ 8,094,085 $ 16,857,613 $ 15,998,281 General and administrative 10,542,495 15,401,458 14,581,707 Repairs and maintenance 5,490,145 7,939,836 7,624,031 Utilities 4,817,508 6,282,218 6,266,192 Property taxes 7,014,472 7,044,085 6,225,508 Management fees, including incentive 1,822,359 5,259,194 4,785,702 Franchise fees 2,042,902 4,706,459 4,308,065 Insurance 3,097,245 3,303,366 2,894,708 Information and telecommunications 2,271,266 2,558,489 2,142,698 Other 294,831 1,042,915 818,608 Total indirect hotel operating expenses $ 45,487,308 $ 70,395,633 $ 65,645,500

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2020
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, 2020, 2019, and 2018 are as follows: Year Ended Year Ended Year Ended December 31, 2020 December 31, 2019 December 31, 2018 Current: Federal $ (125,587 ) $ (125,587 ) $ — State (6,054 ) 157,012 149,410 (131,641 ) 31,425 149,410 Deferred: Federal (7,576,931 ) (244,360 ) 351,663 State (1,705,939 ) (36,545 ) (31,724 ) Subtotals (9,282,870 ) (280,905 ) 319,939 Change in deferred tax valuation allowance 14,694,954 — — 5,412,084 (280,905 ) 319,939 $ 5,280,443 $ (249,480 ) $ 469,349 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, 2020 December 31, 2019 December 31, 2018 Statutory federal income tax provision $ (10,164,517 ) $ 194,479 $ (29,150 ) Effect of non-taxable REIT loss 17,156,953 (564,426 ) 380,813 State income tax provision (1,711,993 ) 120,467 117,686 $ 5,280,443 $ (249,480 ) $ 469,349 Deferred income taxes are recognized for temporary differences between the financial reporting bases of asset and liabilities and their respective tax bases and for operating losses and tax credit carryforwards based on enacted tax rates expected to be in effect when such amounts are realized. However, deferred tax assets are recognized only to the extent that it is more likely than not that they will be realizable based on consideration of available evidence, including future reversal of taxable temporary differences, projected taxable income and tax planning strategies. Due to the economic uncertainty the COVID-19 pandemic has produced upon tax-planning strategies and projections for future taxable income over the periods in which the deferred tax assets are realizable, as of December 31, 2020, the Company believes is not more likely than not that the Company will realize the benefits of these assets. Therefore, the Company has determined that a full valuation allowance should be recorded against the deferred tax asset. The amount of the deferred tax assets considered unrealizable, however, could change in the future based on revised estimates of future taxable income during the carryforward period. The significant components of our deferred tax asset as of December 31, 2020 and 2019 are as follows: Year Ended Year Ended December 31, 2020 December 31, 2019 Deferred tax asset: Net operating loss carryforwards $ 14,409,456 $ 4,988,283 Accrued compensation 108,595 335,621 Accrued expenses and other 128,257 19,427 Intangible assets 48,647 68,753 Less: Valuation allowance (14,694,955 ) — Total $ — $ 5,412,084

Loss per Share and per Unit

Loss per Share and per Unit	12 Months Ended
	Dec. 31, 2020
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 509,069, 574,816 and 613,194 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, 2020, 2019 and 2018, respectively. The effect of allocated and committed to be released shares during the years ended December 31, 2020 and 2019 2018, have not been included in the weighted average diluted earnings per share calculation, since there would be an anti-dilutive effect from the dilution by these shares, although the amount of compensation for allocated shares is reflected in net loss available to common stockholders for basic computation. The computation of the Company’s basic net loss per share is presented below: Year Ended Year Ended Year Ended December 31, 2020 December 31, 2019 December 31, 2018 Numerator Net loss attributable to common stockholders for basic computation $ (57,949,206 ) $ (5,911,251 ) $ (5,719,978 ) Denominator Weighted average number of common shares outstanding 14,866,197 14,233,513 14,145,838 Weighted average number of Unearned ESOP Shares (554,148 ) (590,940 ) (628,350 ) Total weighted average number of common shares outstanding for basic computation 14,312,049 13,642,573 13,517,488 Basic net loss per share $ (4.05 ) $ (0.43 ) $ (0.42 ) Loss Per Unit . The Series B Preferred Units, Series C Preferred Units, and Series D Preferred Units are not convertible into or exchangeable for any other property or securities of the Operating Partnership, except upon the occurrence of a change of control and have been excluded from the diluted earnings per unit calculation as there would be no impact on the current unitholders. The number of non-committed, unearned shares in the Company’s ESOP have no impact on the calculation of the loss per unit in the Operating Partnership. The computation of basic loss per general and limited partnership unit in the Operating Partnership is presented below: Year Ended Year Ended Year Ended December 31, 2020 December 31, 2019 December 31, 2018 Numerator Net loss attributable to general and limited partnership unitholders for basic computation $ (62,438,547 ) $ (6,645,127 ) $ (6,438,071 ) Denominator Weighted average number of general and limited partnership units outstanding 16,065,499 16,011,653 15,923,978 Basic net loss per general and limited partnership unit $ (3.89 ) $ (0.42 ) $ (0.40 )

Quarterly Operating Results - U

Quarterly Operating Results - Unaudited	12 Months Ended
	Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
Quarterly Operating Results - Unaudited	14. Quarterly Operating Results - Unaudited Quarters Ended 2020 March 31 June 30 September 30 December 31 Total revenue $ 37,208,465 $ 5,293,907 $ 14,414,478 $ 14,585,726 Total operating expenses 39,011,968 16,723,112 21,824,217 23,692,949 Net operating loss (1,803,503 ) (11,429,205 ) (7,409,739 ) (9,107,223 ) Net loss (13,332,205 ) (16,301,070 ) (11,039,271 ) (13,010,359 ) Net loss attributable to common shareholders (14,323,699 ) (17,124,612 ) (12,259,908 ) (14,240,987 ) Loss per share attributable to common shareholders– basic and diluted $ (1.01 ) $ (1.20 ) $ (0.86 ) $ (0.98 ) Net loss available to operating partnership unitholders (15,521,115 ) (18,489,980 ) (13,228,181 ) (15,199,271 ) Loss per unit attributable to operating partnership unitholders– basic and diluted $ (0.97 ) $ (1.15 ) $ (0.82 ) $ (0.95 ) 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 loss attributable to common shareholders (1,653,763 ) (731,711 ) (106,827 ) (3,418,950 ) Loss per share attributable to common shareholders– basic and diluted $ (0.12 ) $ (0.05 ) $ (0.01 ) $ (0.25 ) Net loss available to operating partnership unitholders (1,860,712 ) (823,067 ) (120,164 ) (3,841,184 ) Loss per unit attributable to operating partnership unitholders– basic and diluted $ (0.12 ) $ (0.05 ) $ (0.01 ) $ (0.23 )

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	15. Subsequent Events On January 5, 2021, we entered into a mortgage forbearance agreement with the lender for the DoubleTree by Hilton Laurel whereby the lender has agreed to the following: (a) deferral of scheduled payments of principal and interest due from April 1, 2020 to September 30, 2020; (b) subsequent payments are required to be applied first toward current and deferred interest and then toward principal; (c) any deferred principal is due and payable at maturity; and (d) the lender agreed to defer principal payments through March 31, 2021. The maturity date under the loan modification remains unchanged. As of February 4, 2021, the Company issued 15,000 restricted shares to its independent directors and 136,281 unrestricted shares to its employees. On February 12, 2021, we entered into a mortgage forbearance agreement with the lender for the Hotel Alba Tampa whereby the lender agreed to the deferral of scheduled payments of principal due from April 1, 2020 to June 30, 2021.

Schedule III - Real Estate and

Schedule III - Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2020
Real Estate And Accumulated Depreciation Disclosure [Abstract]
Schedule III - Real Estate and Accumulated Depreciation	SOTHERLY HOTELS INC. SOTHERLY HOTELS LP SCHEDULE III—REAL ESTATE AND ACCUMULATED DEPRECIATION AS OF DECEMBER 31, 2020 (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 $ 32,821 $ 600 $ 13,562 $ 813 $ 20,010 $ 1,413 $ 33,572 $ 34,985 $ (12,915 ) 1968 2004 3-39 years DoubleTree by Hilton Jacksonville Riverfront – Jacksonville, Florida 33,655 7,090 14,604 148 7,753 7,238 22,357 29,595 (9,001 ) 1970 2005 3-39 years DoubleTree by Hilton Laurel – Laurel, Maryland 8,655 900 9,443 71 5,769 971 15,212 16,183 (5,825 ) 1985 2004 3-39 years DoubleTree by Hilton Philadelphia Airport – Philadelphia, Pennsylvania 41,805 2100 22,031 399 6,899 2,499 28,930 31,429 (12,118 ) 1972 2004 3-39 years DoubleTree by Hilton Raleigh Brownstone – University – Raleigh, North Carolina 18,300 815 7,416 3,795 6,809 4,610 14,225 18,835 (6,920 ) 1971 2004 3-39 years DoubleTree Resort by Hilton Hollywood Beach - Hollywood Beach, Florida 55,878 22,865 67,660 634 8,566 23,499 76,226 99,725 (11,031 ) 1972 2015 3-39 years Georgian Terrace – Atlanta, Georgia 42,508 10,128 45,386 (1,300 ) 5,974 8,828 51,360 60,188 (9,857 ) 1911 2014 3-39 years Hotel Alba Tampa, Tapestry Collection by Hilton – Tampa, Florida 17,946 4,153 9,670 1,773 25,969 5,926 35,639 41,565 (10,496 ) 1973 2007 3-39 years Hotel Ballast Wilmington, Tapestry Collection by Hilton – Wilmington, North Carolina 33,259 785 16,829 1,153 14,671 1,938 31,500 33,438 (14,081 ) 1970 2004 3-39 years Hyatt Centric Arlington - Arlington, Virginia 48,990 191 70,369 79 1,685 270 72,054 72,324 (5,262 ) 2018 3-39 years Sheraton Louisville Riverside – Jeffersonville, Indiana 11,037 782 6,891 407 14,871 1,189 21,762 22,951 (7,659 ) 1972 2006 3-39 years The Whitehall – Houston, Texas 14,698 7,374 22,185 107 7,042 7,481 29,227 36,708 (5,977 ) 1963 2013 3-39 years Hyde Resort & Residences - 226 4,290 - - 226 4,290 4,516 (431 ) 2016 2017 3-39 years Hyde Beach House Resort & Residences - - 5,710 - - - 5,710 5,710 (185 ) 2019 2019 3-39 years $ 359,552 $ 58,009 $ 316,046 $ 8,080 $ 126,018 $ 66,089 $ 442,064 $ 508,153 $ (111,758 ) (1) RECONCILIATION OF REAL ESTATE AND ACCUMULATED DEPRECIATION RECONCILIATION OF REAL ESTATE 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 Acquisitions — Improvements 4,066 Disposal of Assets (213 ) Balance at December 31, 2020 $ 508,153 RECONCILIATION OF ACCUMULATED DEPRECIATION Balance at December 31, 2018 $ 85,655 Current Expense 14,770 Impairment — Disposal of Assets (2,888 ) Balance at December 31, 2019 $ 97,537 Current Expense 14,355 Impairment — Disposal of Assets (134 ) Balance at December 31, 2020 $ 111,758

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation – The consolidated financial statements of the Company presented herein include all the accounts of Sotherly Hotels Inc., the Operating Partnership and the MHI TRS Entities. All significant inter-company balances and transactions have been eliminated. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. The consolidated financial statements of the Operating Partnership presented herein include all the accounts of Sotherly Hotels LP and the MHI TRS Entities. All significant inter-company balances and transactions have been eliminated. Additionally, all administrative expenses of the Company and those expenditures made by the Company on behalf of the Operating Partnership are reflected as the administrative expenses, expenditures and obligations thereto of the Operating Partnership, pursuant to the terms of the Partnership Agreement.
Variable Interest Entities	Variable Interest Entities – The Operating Partnership is a variable interest entity. The Company’s only significant asset is its investment in the Operating Partnership, and consequently, substantially all of the Company’s assets and liabilities represent those assets and liabilities of the Operating Partnership and its subsidiaries. All of the Company’s debt is an obligation of the Operating Partnership and its subsidiaries.
Investment in Hotel Properties	Investment in Hotel Properties – Investments in hotel properties include investments in operating properties which are recorded at fair value on acquisition date and allocated to land, property and equipment and identifiable intangible assets. Replacements and improvements are capitalized, while repairs and maintenance are expensed as incurred. Upon the sale or retirement of a fixed asset, the cost and related accumulated depreciation are removed from our accounts and any resulting gain or loss is included in the statements of operations. Expenditures under a renovation project, which constitute additions or improvements that extend the life of the property, are capitalized. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, generally 7 to 39 years for buildings and building improvements and 3 to 10 years for furniture, fixtures and equipment. Leasehold improvements are amortized over the shorter of the lease term or the useful lives of the related assets. The Company assesses the carrying values of its investments in hotel properties whenever events or changes in circumstances indicate that the carrying value of the hotel properties may not be recoverable. Events or circumstances that may cause a review include, but are not limited to, adverse permanent changes in the demand for lodging at the properties due to declining national or local economic conditions and/or new hotel construction in markets where the hotels are located. When such conditions exist, management performs an analysis to determine if the estimated undiscounted future cash flows from operations and the proceeds from the ultimate disposition of a hotel property exceeds its carrying value. If the estimated undiscounted future cash flows are found to be less than the carrying amount of the asset, an adjustment to reduce the carrying amount to the related hotel property’s estimated fair market value would be recorded and an impairment loss recognized. The COVID-19 pandemic has had, and is expected to continue to have, an adverse impact on the lodging and hospitality industries, which the Company considered to be a triggering event for each of its hotels during its impairment testing for the year ended December 31, 2020. The Company assessed the recoverability of each of its hotel properties which included a projection of future operating cash flows based upon significant assumptions regarding growth rates, occupancy, room rates, economic trends, property-specific operating costs, an allowance for the replacement of furniture, fixtures and equipment and projected cash flows from the eventual disposition of the hotel. The Company also projects cash flows from the eventual disposition of the hotel based upon property-specific capitalization rates. The Company determined that there were no impairments as of December 31, 2020.
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 – The Company consider all highly liquid investments with an original maturity of three months or less to be cash equivalents.
Concentration of Credit Risk	Concentration of Credit Risk – The Company holds cash accounts at several institutions in excess of the Federal Deposit Insurance Corporation (the “FDIC”) protection limits of $250,000. Our exposure to credit loss in the event of the failure of these institutions is represented by the difference between the FDIC protection limit and the total amounts on deposit. Management monitors, on a regular basis, the financial condition of the financial institutions along with the balances there on deposit to minimize our potential risk.
Restricted Cash	Restricted Cash – Restricted cash includes real estate tax escrows, insurance escrows and reserves for replacements of furniture, fixtures and equipment pursuant to certain requirements in our various mortgage agreements.
Accounts Receivable	Accounts Receivable – Accounts receivable consists primarily of hotel guest, banqueting and credit card receivables. Ongoing evaluations of collectability are performed and an allowance for potential credit losses is provided against the portion of accounts receivable that is estimated to be uncollectible.
Inventories	Inventories – Inventories, consisting primarily of food and beverages, are stated at the lower of cost or net realizable value, with cost determined on a method that approximates first-in, first-out basis.
Franchise License Fees	Franchise License Fees – Fees expended to obtain or renew a franchise license are amortized over the life of the license or renewal. The unamortized franchise fees as of December 31, 2020 and 2019 were approximately $353,872 and $413,354, respectively. Amortization expense for the years ended December 31, 2020, 2019, and 2018 was $59,482, $58,642 and $60,073, respectively.
Deferred Financing Costs	Deferred Financing Costs – Deferred financing costs are recorded at cost and consist of loan fees and other costs incurred in issuing debt and are reflected in mortgage loans, net and unsecured notes, net on the consolidated balance sheets. Deferred offering costs are recorded at cost and consist of offering fees and other costs incurred in advance of issuing equity and are reflected in prepaid expenses, inventory and other assets on the consolidated balance sheets. Amortization of deferred financing costs is computed using a method that approximates the effective interest method over the term of the related debt and is included in interest expense in the consolidated statements of operations.
Derivative Instruments	Derivative Instruments – Our derivative instruments are reflected as assets or liabilities on the consolidated balance sheet and measured at fair value. Derivative instruments used to hedge the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as an interest rate risk, are considered fair value hedges. Derivative instruments used to hedge exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. For a derivative instrument designated as a cash flow hedge, the change in fair value each period is reported in accumulated other comprehensive income in stockholders’ equity and partners’ capital to the extent the hedge is effective. For a derivative instrument designated as a fair value hedge, the change in fair value each period is reported in earnings along with the change in fair value of the hedged item attributable to the risk being hedged. For a derivative instrument that does not qualify for hedge accounting or is not designated as a hedge, the change in fair value each period is reported in earnings. We use derivative instruments to add stability to interest expense and to manage our exposure to interest-rate movements. To accomplish this objective, we currently use interest rate caps and an interest rate swap which act as cash flow hedges and are not designated as hedges. We value our interest-rate caps and interest rate swap at fair value, which we define as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). We do not enter into contracts to purchase or sell derivative instruments for speculative trading purposes.
Fair Value Measurements	Fair Value Measurements – We classify the inputs used to measure fair value into the following hierarchy: Level 1 Unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 Unadjusted quoted prices in active markets for similar assets or liabilities, or unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs other than quoted prices that are observable for the asset or liability. Level 3 Unobservable inputs for the asset or liability. We endeavor to utilize the best available information in measuring fair value. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The following table represents our assets and liabilities measured at fair value and the basis for that measurement (our interest rate caps and interest rate swap are the only assets or liabilities measured at fair value on a recurring basis, there were no non-recurring assets or liabilities for fair value measurements as of Level 1 Level 2 Level 3 December 31, 2019 Interest Rate Caps (1) $ — $ 4,504 $ — Interest Rate Swap (2) $ — $ (2,064,709 ) $ — Mortgage loans (3) $ — $ (363,229,617 ) $ — December 31, 2020 Interest Rate Cap (1) $ — $ 208 $ — Interest Rate Swap (2) $ — $ (3,038,967 ) $ — Mortgage loans (3) $ — $ (364,112,622 ) $ — (1) Interest rate cap, which cap 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 outstanding principal balance, net of deferred financing costs on our Consolidated Balance Sheets as of December 31, 2020 and December 31, 2019.
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 $1,386,874, $1,456,550 and $1,638,408, for the years ended December 31, 2020, 2019, and 2018, 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, 2021 $ 1,097,841 December 31, 2022 1,050,968 December 31, 2023 1,054,554 December 31, 2024 1,062,652 December 31, 2025 1,071,332 December 31, 2026 and thereafter 7,159,742 Total $ 12,497,089
Lessee Accounting	Lessee Accounting – On January 1, 2019, the Company adopted ASU No. 2016-02, , which relates to the accounting for lease arrangements. The Company’s operating lease agreements are primarily the ground lease on the Hyatt Centric Arlington, the parking garage lease in Hollywood, Florida at the Hyde Beach House, and the corporate office lease. The assets are classified as “right of use assets”, which represent our right to use an underlying asset and the operating lease liability, which represent our obligation to make lease payments arising from the lease, is classified within “accounts payable and other accrued liabilities”. Right of use assets and operating lease liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. Variable lease payments are excluded from the right of use assets and operating lease liabilities are recognized in the period in which the obligation for those payments is incurred. As our leases do not provide an implicit rate, we use our incremental borrowing cost based on information available at the commencement date using our actual borrowing rates commensurate with the lease terms and fully levered borrowing. Extension options on our leases are included in our minimum lease terms when they are reasonably certain to be exercised.
Income Taxes	Income Taxes – The Company has elected to be taxed as a REIT under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended. As a REIT, the Company generally will not be subject to federal income tax. The MHI TRS Entities which leases our hotels from subsidiaries of the Operating Partnership, are subject to federal and state income taxes. We account for income taxes using the asset and liability method under which deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. A valuation allowance is required for deferred tax assets if, based on all available evidence, it is “more-likely-than-not” that all or a portion of the deferred tax asset will or will not be realized due to the inability to generate sufficient taxable income in certain financial statement periods. The “more-likely-than-not” analysis means the likelihood of realization is greater than 50%, that we either will or will not be able to fully utilize the deferred tax assets against future taxable income. The net amount of deferred tax assets that are recorded on the financial statements must reflect the tax benefits that are expected to be realized using these criteria. As of December 31, 2020, we have determined that it is more-likely-than-not that we will not be able to fully utilize our deferred tax assets for future tax consequences, therefore a 100% valuation allowance is required. As of December 31, 2020 and 2019, deferred tax assets totaled $0 and $5,412,084, respectively. As of December 31, 2020, 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, 2020, the tax years that remain subject to examination by the major tax jurisdictions to which the Company is subject generally include 2016 through 2019. In addition, as of December 31, 2020, 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 2019. 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, 2020, under the 2013 Plan, the Company has made cumulative stock awards totaling 366,183 shares, including 168,600 non-restricted shares to certain executives, directors and employees, and 197,583 restricted shares issued to certain executives, directors and employees. All awards have vested except for 178,583 shares issued to certain executives, directors and employees, which will vest over the next 4 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, 2020, 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, 2020, 2019, and 2018 was $548,894, $124,433 and $135,428, respectively. Additionally, the Company sponsors and maintains an Employee Stock Ownership Plan (“ESOP”) and related trust for the benefit of its eligible employees. We reflect unearned ESOP shares as a reduction of stockholders’ equity. Dividends on unearned ESOP shares, when paid, are considered compensation expense. The Company recognizes compensation expense equal to the fair value of the Company’s ESOP shares during the periods in which they are committed to be released. For the years ended December 31, 2020, 2019, and 2018 the ESOP compensation cost was $175,367, $274,574 and $253,370, 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, to include internet advertising, were $1,351,538, $2,042,682 and $2,650,630 for the years ended December 31, 2020, 2019, and 2018, 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, 2020, 2019 and 2018, for $85,517, $29,747 and $838,630, 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 and proceeds from an electrical outage at our property in Houston, Texas the year before. The insurance proceeds were reflected in the statement of operations in other operating departments revenues.
Involuntary Conversion of Assets	Involuntary Conversion of Assets – The Company record gains or losses on involuntary conversions of assets due to recovered insurance proceeds to the extent the undepreciated cost of a nonmonetary asset differs from the amount of monetary proceeds received. During the years ending December 31, 2020, 2019, and 2018, we recognized $179,856, $293,534 and $917,767, respectively, for gain on involuntary conversion of assets, which is reflected in the consolidated statements of operations.
Comprehensive Income (Loss)	Comprehensive Income (Loss) – Comprehensive income (loss), as defined, includes all changes in equity (net assets) during a period from non-owner sources. The Company does not have any items of comprehensive income (loss) other than net income (loss).
Segment Information	Segment Information – The Company has determined that our business is conducted in one reportable segment: hotel ownership.
Use of Estimates	Use of Estimates – The preparation of the financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
New Accounting Pronouncements	New Accounting Pronouncements – In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform – Facilitation of the Effects of Reference Rate Reform on Financial Reporting , which provides temporary optional expedients and exceptions to the existing guidance on contract modifications and hedge accounting to ease the financial reporting burdens of the expected market transition from the London Interbank Offered Rate (“LIBOR”) and other interbank offered rates to alternative reference rates, such as the Secured Overnight Financing Rate (“SOFR”). The update provides guidance in accounting for changes in contracts, hedging relationships, and other transactions as a result of this reference rate reform. The option expedients and exceptions contained within this update, in general, only apply to contract amendments and modifications entered into prior to January 1, 2023. The provisions of this update will most likely affect our financial reporting process relating to modifications of contracts with lenders and the hedging contracts associated with each respective modified borrowing contract. In general, the provision of the update would benefit us by allowing modifications of debt contracts with lenders that fall under the guidance of ASC Topic 740 to be accounted for as a non-substantial modification and not be considered debt extinguishment. As of December 31, 2020, the Company have not entered into any contract modification as it directly relates to reference rate reform, with the exception of a modification to the mortgage on the Whitehall in Houston, Texas, which changed the reference rate from LIBOR to the New York Prime Rate. The Company anticipates having to undertake more modifications in the future. While the Company anticipates the impact of this update may be to its benefit, the Company is still evaluating the overall impact.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Schedule of Recurring Assets and Liabilities Measured at Fair Value	The following table represents our assets and liabilities measured at fair value and the basis for that measurement (our interest rate caps and interest rate swap are the only assets or liabilities measured at fair value on a recurring basis, there were no non-recurring assets or liabilities for fair value measurements as of Level 1 Level 2 Level 3 December 31, 2019 Interest Rate Caps (1) $ — $ 4,504 $ — Interest Rate Swap (2) $ — $ (2,064,709 ) $ — Mortgage loans (3) $ — $ (363,229,617 ) $ — December 31, 2020 Interest Rate Cap (1) $ — $ 208 $ — Interest Rate Swap (2) $ — $ (3,038,967 ) $ — Mortgage loans (3) $ — $ (364,112,622 ) $ — (1) Interest rate cap, which cap 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 outstanding principal balance, net of deferred financing costs on our Consolidated Balance Sheets as of December 31, 2020 and December 31, 2019.
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, 2021 $ 1,097,841 December 31, 2022 1,050,968 December 31, 2023 1,054,554 December 31, 2024 1,062,652 December 31, 2025 1,071,332 December 31, 2026 and thereafter 7,159,742 Total $ 12,497,089

Acquisition of Hotel Property (

Acquisition of Hotel Property (Tables)	12 Months Ended
	Dec. 31, 2020
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: Hyde Beach House Land and land improvements $ 500 Buildings and improvements 5,564,219 Furniture, fixtures and equipment 347,621 Favorable lease and other intangible assets — Investment in hotel properties 5,912,340 Accrued liabilities and other costs — Prepaid expenses, inventory and other assets 434,038 Net cash $ 6,346,378

Investment in Hotel Propertie_2

Investment in Hotel Properties, Net (Tables)	12 Months Ended
	Dec. 31, 2020
Real Estate [Abstract]
Schedule of Investment in Hotel Properties, Net	Investment in hotel properties as of December 31, 2020 and 2019 consisted of the following: December 31, 2020 December 31, 2019 Land and land improvements $ 66,088,705 $ 66,031,443 Buildings and improvements 442,063,950 438,268,174 Right of use assets 5,995,438 6,452,259 Furniture, fixtures and equipment 55,796,797 55,392,434 569,944,891 566,144,310 Less: accumulated depreciation and impairment (142,120,306 ) (122,876,862 ) Investment in Hotel Properties, Net $ 427,824,585 $ 443,267,448

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2020
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 2020 2019 Penalties Date Provisions Rate The DeSoto (1) $ 32,820,733 $ 32,967,166 Yes 7/1/2026 25 years 4.25% DoubleTree by Hilton Jacksonville Riverfront (2) 33,655,483 34,225,971 Yes 7/11/2024 30 years 4.88% DoubleTree by Hilton Laurel (3) 8,654,754 8,534,892 Yes 8/5/2021 25 years 5.25% DoubleTree by Hilton Philadelphia Airport (4) 41,804,700 41,419,590 None 10/31/2023 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 2.27% DoubleTree Resort by Hilton Hollywood Beach (6) 55,878,089 56,057,218 (6) 10/1/2025 30 years 4.913% Georgian Terrace (7) 42,507,512 43,335,291 (7) 6/1/2025 30 years 4.42% Hotel Alba Tampa, Tapestry Collection by Hilton (8) 17,946,480 18,000,104 None 6/30/2022 (8) LIBOR plus 2.27% Hotel Ballast Wilmington, Tapestry Collection by Hilton (9) 33,259,067 33,401,622 Yes 1/1/2027 25 years 4.25% Hyatt Centric Arlington (10) 48,990,136 49,173,836 Yes 9/18/2028 30 years 5.25% Sheraton Louisville Riverside (11) 11,037,086 11,114,145 Yes 12/1/2026 25 years 4.27% The Whitehall (12) 14,697,830 14,450,420 Yes 2/26/2023 25 years PRIME plus 1.25% Total Mortgage Principal Balance $ 359,551,870 $ 360,980,255 Deferred financing costs, net (2,122,822 ) (2,487,982 ) Unamortized premium on loan 116,929 141,611 Total Mortgage Loans, Net $ 357,545,977 $ 358,633,884 (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 the Company entered into a swap agreement to fix the rate at 5.237%. Under the swap agreement, notional amounts approximate the declining balance of the original loan and the Company is responsible for any potential termination fees associated with early termination of the swap agreement. (5) The note provided 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. The Company 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 New York Prime Rate plus 1.25% and is subject to prepayment penalty of 3.0% if prepaid on or before April 12, 2021, 2.0% if prepaid after April 12, 2021 and 1.0% if prepaid after April 12, 2022 but on or before November 26, 2022.
Schedule of Future Mortgage Debt Maturities	Total future mortgage debt maturities, without respect to any extension of loan maturity, as of December 31, 2020 were as follows: For the twelve months ending December 31, 2021 14,740,992 December 31, 2022 42,240,755 December 31, 2023 61,215,532 December 31, 2024 37,476,056 December 31, 2025 93,219,331 December 31, 2026 and thereafter 110,659,204 Total future maturities $ 359,551,870

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2020
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: For the twelve months ending December 31, 2021 $ 597,502 December 31, 2022 653,742 December 31, 2023 621,452 December 31, 2024 632,935 December 31, 2025 583,461 December 31, 2026 and thereafter 14,754,214 Total $ 17,843,306

Preferred Stock and Units (Tabl

Preferred Stock and Units (Tables)	12 Months Ended
	Dec. 31, 2020
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, 2020 December 31, 2019 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 1,554,610 $ 0.492188 Series D Preferred Stock 8.250 % $ 25.00 1,200,000 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, 2020 December 31, 2019 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 1,554,610 $ 0.492188 Series D Preferred Units 8.250 % $ 25.00 1,200,000 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 2018 2019 2020 March 31, $ 0.500000 $ 0.500000 $ 0.500000 June 30, $ 0.500000 $ 0.500000 $ — September 30, $ 0.500000 $ 0.500000 $ — December 31, $ 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, 2020, 2019, and 2018: Quarter Ended 2018 2019 2020 March 31, $ 0.492188 $ 0.492188 $ 0.492188 June 30, $ 0.492188 $ 0.492188 $ — September 30, $ 0.492188 $ 0.492188 $ — December 31, $ 0.492188 $ 0.492188 $ — (1) 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, 2020, 2019, and 2018: Quarter Ended 2018 2019 2020 March 31, $ — $ — $ 0.515625 June 30, $ — $ 0.418230 (1) $ — September 30, $ — $ 0.515625 $ — December 31, $ — $ 0.515625 $ — (1) 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, 2020
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, 2020, 2019, and 2018: Quarter Ended 2018 2019 2020 March 31, $ 0.115 $ 0.125 $ 0.130 June 30, $ 0.120 $ 0.130 - September 30, $ 0.125 $ 0.130 - December 31, $ 0.125 $ 0.130 -

Retirement Plans (Tables)

Retirement Plans (Tables)	12 Months Ended
	Dec. 31, 2020
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, 2020 December 31, 2019 Number of Shares Fair Value Number of Shares Fair Value Allocated shares 170,419 $ 426,048 66,295 $ 449,480 Committed to be released shares - - 38,377 260,196 Total Allocated and Committed-to-be-Released 170,419 $ 426,048 104,672 $ 709,676 Unallocated shares 509,069 1,272,672 574,816 3,897,252 Total ESOP Shares 679,488 $ 1,698,720 679,488 $ 4,606,928

Indirect Hotel Operating Expe_2

Indirect Hotel Operating Expenses (Tables)	12 Months Ended
	Dec. 31, 2020
Other Income And Expenses [Abstract]
Summary of Indirect Hotel Operating Expenses	Indirect hotel operating expenses consists of the following expenses incurred by the hotels: 2020 2019 2018 Sales and marketing $ 8,094,085 $ 16,857,613 $ 15,998,281 General and administrative 10,542,495 15,401,458 14,581,707 Repairs and maintenance 5,490,145 7,939,836 7,624,031 Utilities 4,817,508 6,282,218 6,266,192 Property taxes 7,014,472 7,044,085 6,225,508 Management fees, including incentive 1,822,359 5,259,194 4,785,702 Franchise fees 2,042,902 4,706,459 4,308,065 Insurance 3,097,245 3,303,366 2,894,708 Information and telecommunications 2,271,266 2,558,489 2,142,698 Other 294,831 1,042,915 818,608 Total indirect hotel operating expenses $ 45,487,308 $ 70,395,633 $ 65,645,500

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2020
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, 2020, 2019, and 2018 are as follows: Year Ended Year Ended Year Ended December 31, 2020 December 31, 2019 December 31, 2018 Current: Federal $ (125,587 ) $ (125,587 ) $ — State (6,054 ) 157,012 149,410 (131,641 ) 31,425 149,410 Deferred: Federal (7,576,931 ) (244,360 ) 351,663 State (1,705,939 ) (36,545 ) (31,724 ) Subtotals (9,282,870 ) (280,905 ) 319,939 Change in deferred tax valuation allowance 14,694,954 — — 5,412,084 (280,905 ) 319,939 $ 5,280,443 $ (249,480 ) $ 469,349
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, 2020 December 31, 2019 December 31, 2018 Statutory federal income tax provision $ (10,164,517 ) $ 194,479 $ (29,150 ) Effect of non-taxable REIT loss 17,156,953 (564,426 ) 380,813 State income tax provision (1,711,993 ) 120,467 117,686 $ 5,280,443 $ (249,480 ) $ 469,349
Schedule of Significant Components of Deferred Tax Asset	The significant components of our deferred tax asset as of December 31, 2020 and 2019 are as follows: Year Ended Year Ended December 31, 2020 December 31, 2019 Deferred tax asset: Net operating loss carryforwards $ 14,409,456 $ 4,988,283 Accrued compensation 108,595 335,621 Accrued expenses and other 128,257 19,427 Intangible assets 48,647 68,753 Less: Valuation allowance (14,694,955 ) — Total $ — $ 5,412,084

Loss per Share and per Unit (Ta

Loss per Share and per Unit (Tables)	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Computation of Basic Net Loss Per Share	The computation of the Company’s basic net loss per share is presented below: Year Ended Year Ended Year Ended December 31, 2020 December 31, 2019 December 31, 2018 Numerator Net loss attributable to common stockholders for basic computation $ (57,949,206 ) $ (5,911,251 ) $ (5,719,978 ) Denominator Weighted average number of common shares outstanding 14,866,197 14,233,513 14,145,838 Weighted average number of Unearned ESOP Shares (554,148 ) (590,940 ) (628,350 ) Total weighted average number of common shares outstanding for basic computation 14,312,049 13,642,573 13,517,488 Basic net loss per share $ (4.05 ) $ (0.43 ) $ (0.42 )
Computation of Basic Loss Per Unit	The computation of basic loss per general and limited partnership unit in the Operating Partnership is presented below: Year Ended Year Ended Year Ended December 31, 2020 December 31, 2019 December 31, 2018 Numerator Net loss attributable to general and limited partnership unitholders for basic computation $ (62,438,547 ) $ (6,645,127 ) $ (6,438,071 ) Denominator Weighted average number of general and limited partnership units outstanding 16,065,499 16,011,653 15,923,978 Basic net loss per general and limited partnership unit $ (3.89 ) $ (0.42 ) $ (0.40 )

Quarterly Operating Results -_2

Quarterly Operating Results - Unaudited (Tables)	12 Months Ended
	Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
Quarterly Operating Results	Quarters Ended 2020 March 31 June 30 September 30 December 31 Total revenue $ 37,208,465 $ 5,293,907 $ 14,414,478 $ 14,585,726 Total operating expenses 39,011,968 16,723,112 21,824,217 23,692,949 Net operating loss (1,803,503 ) (11,429,205 ) (7,409,739 ) (9,107,223 ) Net loss (13,332,205 ) (16,301,070 ) (11,039,271 ) (13,010,359 ) Net loss attributable to common shareholders (14,323,699 ) (17,124,612 ) (12,259,908 ) (14,240,987 ) Loss per share attributable to common shareholders– basic and diluted $ (1.01 ) $ (1.20 ) $ (0.86 ) $ (0.98 ) Net loss available to operating partnership unitholders (15,521,115 ) (18,489,980 ) (13,228,181 ) (15,199,271 ) Loss per unit attributable to operating partnership unitholders– basic and diluted $ (0.97 ) $ (1.15 ) $ (0.82 ) $ (0.95 ) 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 loss attributable to common shareholders (1,653,763 ) (731,711 ) (106,827 ) (3,418,950 ) Loss per share attributable to common shareholders– basic and diluted $ (0.12 ) $ (0.05 ) $ (0.01 ) $ (0.25 ) Net loss available to operating partnership unitholders (1,860,712 ) (823,067 ) (120,164 ) (3,841,184 ) Loss per unit attributable to operating partnership unitholders– basic and diluted $ (0.12 ) $ (0.05 ) $ (0.01 ) $ (0.23 )

Organization and Description _2

Organization and Description of Business - Additional Information (Detail)

May 06, 2020USD ($)

Apr. 28, 2020USD ($)

Apr. 16, 2020USD ($)

Sep. 26, 2019USD ($)ft²HotelParkingSpaces

May 20, 2019USD ($)

May 01, 2019USD ($)shares

Apr. 26, 2019USD ($)

Apr. 18, 2019USD ($)shares

Sep. 18, 2018USD ($)

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

Jul. 31, 2018USD ($)

Jul. 27, 2018USD ($)

Jul. 02, 2018USD ($)

Mar. 01, 2018USD ($)RoomRenewalPeriod

Feb. 26, 2018

Feb. 12, 2018USD ($)

Feb. 01, 2018USD ($)

Dec. 31, 2018shares

Dec. 31, 2020USD ($)HotelRoomResortSubsidiary$ / sharesshares

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

Dec. 31, 2018USD ($)shares

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

Number of independent hotels | Hotel

3

Date of commencement of business

Dec. 21, 2004

Number of hotels acquired before commencement of business | Hotel

6

Cash collateral on deposit

$ 1,900,000

Cash and cash equivalents

25,297,771

$ 23,738,066

Restricted cash

$ 10,002,775

$ 4,246,170

Loan rate swapped for fixed interest rate

5.237%

Common stock, par value | $ / shares

$ 0.01

$ 0.01

$ 0.01

Preferred stock, shares authorized | shares

11,000,000

11,000,000

Proceeds from sale of preferred stock, net

$ 33,066,665

$ 1,005,063

Common Stock [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Stock issued during period | shares

88,297

LIBOR [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Interest rate cap for loan

3.25%

3.25%

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 Philadelphia Airport [Member] | Toronto Dominion Bank [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Mortgage loans

$ 42,200,000

$ 30,000,000

Amortization Period

30 years

Swap agreement term

5 years

Debt instrument maturity date

Jul. 31, 2023

Loan rate swapped for fixed interest rate

5.237%

Debt instrument, description

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Floating rate of interest rate

2.27%

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Debt instrument, maturity month and year

2021-08

Amortization Period

25 years

Debt instrument maturity date

Aug. 5, 2021

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Additional proceeds on mortgage loan

$ 5,000,000

Amortization Period

25 years

Debt instrument maturity date

Jan. 1, 2027

Mortgage Loans [Member] | The Whitehall [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Amortization Period

25 years

25 years

Extended maturity date

Feb. 26, 2023

Debt instrument maturity date

Feb. 26, 2023

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Amortization Period

30 years

Debt instrument maturity date

Jul. 11, 2024

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Debt instrument maturity term

4 years

Extended maturity period

1-year

Derivative maturity limit

Aug. 1, 2022

Notional amount

$ 23,500,000

Debt instrument prepayment lockout period

12 months

Debt instrument maturity date

Jul. 27, 2022

Debt instrument prepayment penalty period

2 years

Floating interest rate period

1 month

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Floating rate of interest rate

4.00%

Interest rate cap for loan

3.25%

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Amortization Period

30 years

Extended maturity date

Oct. 31, 2023

Debt instrument maturity date

Oct. 31, 2023

Floating interest rate period

1 month

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Floating rate of interest rate

2.27%

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Amortization Period

30 years

Debt instrument maturity date

Oct. 1, 2025

Promissory Note [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Paycheck protection program loan term

5 years

5 years

Paycheck protection program loan interest rate

1.00%

1.00%

Paycheck protection program loan repayment terms

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

Promissory Note [Member] | Fifth Third Bank [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Paycheck protection program loan amount

$ 952,700

$ 9,432,900

PPP Loans [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Borrowed amount

$ 10,700,000

Subsidiaries received funds | Subsidiary

3

7.25% Senior Unsecured Notes due 2021 [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Proceeds from sale and issuance of unsecured notes

$ 25,000,000

Interest rate

7.25%

7.25%

Proceeds from unsecured notes net of estimated expenses

$ 23,300,000

Debt instrument redeemed date

May 20, 2019

Debt instrument redeemed, principal amount

$ 25,000,000

Percentage of redemption price equal to principal amount

101.00%

8.0% Series B Cumulative Redeemable Perpetual Preferred Stock [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Preferred stock, dividend rate percentage

8.00%

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%

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Preferred stock, dividend rate percentage

8.25%

8.25%

Preferred stock, shares issued | shares

120,000

1,080,000

Gross proceeds before underwriting discounts and commissions and expenses

$ 3,000,000

$ 27,000,000

Proceeds from sale of preferred stock, net

$ 28,400,000

7.25% Senior Unsecured Notes due 2021 [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Interest rate

7.25%

Note Purchase Agreement [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Operating partnership purchase of senior notes

$ 20,000,000

Operating partnership purchase of additional senior secured notes

10,000,000

Note Purchase Agreement [Member] | Secured Notes [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Operating partnership purchase of senior notes

$ 20,000,000

Interest rate

6.00%

Debt instrument maturity date

Dec. 30, 2023

Note Purchase Agreement [Member] | Secured Notes [Member] | KWHP SOHO, LLC [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Borrowed amount

$ 10,000,000

Note Purchase Agreement [Member] | Secured Notes [Member] | MIG SOHO, LLC [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Borrowed amount

$ 10,000,000

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Number of hotels | Hotel

12

Number of condominium resort rental programs | Resort

2

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Mortgage loans

$ 18,300,000

Mortgage loan additional earn-out provision

$ 5,200,000

Debt instrument maturity term

4 years

Extended maturity period

1-year

Derivative maturity limit

Aug. 1, 2022

Notional amount

$ 23,500,000

Debt instrument prepayment lockout period

12 months

Debt instrument prepayment penalty description

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

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Floating rate of interest rate

4.00%

Interest rate cap for loan

3.25%

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Common stock, par value | $ / shares

$ 0.01

Aggregate gross sale price of common stock

$ 5,000,000

Preferred stock, par value | $ / shares

$ 0.01

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Common stock, par value | $ / shares

$ 0.01

Aggregate gross sale price of common stock

$ 5,000,000

Stock issued during period | shares

88,297

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

Fifth Third Bank [Member] | Hotel Alba Tampa, Tapestry Collection by Hilton [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Mortgage loans

$ 18,200,000

Amortization Period

25 years

Extended maturity period

two additional periods of one year each

Debt instrument maturity date

Jun. 30, 2022

Period subject to certain terms and conditions

2 years

Fifth Third Bank [Member] | LIBOR [Member] | Hotel Alba Tampa, Tapestry Collection by Hilton [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

Operating Partnership [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Percentage of operating partnership owned

92.80%

Operating Partnership [Member] | Promissory Note [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Paycheck protection program loan amount

$ 333,500

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Investment in number of hotels | Hotel

2

Hilton, DoubleTree, Hyatt And Sheraton Brands [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Number of hotels | Hotel

9

Hyatt Centric Arlington [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Rooms in hotel | Room

318

Mortgage loans

$ 57,000,000

Hotel property aggregate purchase price

$ 79,700,000

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

Organization Consolidation and Presentation of Financial Statements [Line Items]

Rental payments per year in base rent under ground lease

$ 50,000

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

3.50%

Initial term of ground lease expires year

2025

Number of additional renewal periods extended under ground lease | RenewalPeriod

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] | MetLife Real Estate Lending LLC [Member]

Organization Consolidation and Presentation of Financial Statements [Line Items]

Interest rate

5.25%

Mortgage loans

$ 50,000,000

Amortization Period

30 years

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.

Initial term of agreement

10 years

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, 2020USD ($)Segmentshares	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Summary Of Significant Accounting Policies [Line Items]
Impairment of hotel properties	$ 0	$ 0
Federal Deposit Insurance Corporation protection limits	250,000
Un-amortized franchise fees	353,872	413,354
Amortization expense	59,482	$ 58,642	$ 60,073
Change in accounting principle, accounting standards update, adoption date		Jan. 1, 2019
Change in accounting principle, accounting standards update, adopted		true
Accounting standards update [Extensible List]		us-gaap:AccountingStandardsUpdate201602Member
Deferred income taxes	$ 0	$ 5,412,084
Minimum percentage of likelihood of realization of deferred tax assets	50.00%
Deferred tax assets valuation allowance percent	100.00%
Uncertain tax positions	$ 0
Compensation cost recognized	754,111	385,561	379,153
Advertising cost	1,351,538	2,042,682	2,650,630
Gain on involuntary conversion of assets	$ 179,856	293,534	917,767
Number of reportable segment | Segment	1
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	$ 85,517	29,747	838,630
ESOP [Member]
Summary Of Significant Accounting Policies [Line Items]
Compensation cost recognized	$ 175,367	274,574	253,370
2013 Plan [Member]
Summary Of Significant Accounting Policies [Line Items]
Shares issued under plan | shares	366,183
Performance-based stock awards granted | shares	0
Compensation cost recognized	$ 548,894	124,433	135,428
2013 Plan [Member] | Executives, Directors and Employees [Member]
Summary Of Significant Accounting Policies [Line Items]
Non-restricted shares issued under plan | shares	168,600
Restricted shares issued under plan | shares	197,583
Stock award vesting period	4 years
Shares issued but not vested | shares	178,583
Other Operating Departments [Member]
Summary Of Significant Accounting Policies [Line Items]
Lease revenue	$ 1,386,874	$ 1,456,550	$ 1,638,408
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) - Level 2 [Member] - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Interest Rate Cap [Member]
Derivatives Fair Value [Line Items]
Interest rate cap	$ 208	$ 4,504
Interest Rate Swap [Member]
Derivatives Fair Value [Line Items]
Interest rate cap	(3,038,967)	(2,064,709)
Mortgage Loans [Member]
Derivatives Fair Value [Line Items]
Debt instruments measured at fair value	$ (364,112,622)	$ (363,229,617)

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Schedule of Recurring Assets and Liabilities Measured at Fair Value (Parenthetical) (Detail)	Dec. 31, 2020	Dec. 31, 2019
Derivatives Fair Value [Line Items]
Loan rate swapped for fixed interest rate	5.237%
1-Month LIBOR
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, 2020USD ($)
Leases [Abstract]
For the twelve months ending December 31, 2021	$ 1,097,841
December 31, 2022	1,050,968
December 31, 2023	1,054,554
December 31, 2024	1,062,652
December 31, 2025	1,071,332
December 31, 2026 and thereafter	7,159,742
Total	$ 12,497,089

Acquisition of Hotel Property -

Acquisition of Hotel Property - Additional Information (Detail) - Commercial Condominium Unit of Hyde Resort & Residences [Member] - USD ($) $ in Millions	Sep. 26, 2019	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2018
Business Acquisition [Line Items]
Fair value of consideration	$ 6.3
Total revenue from acquisitions		$ 1.2	$ 1.8	$ 0
Net income (loss) from acquisitions		$ 0.6	$ (1.3)

Acquisition of Hotel Property_2

Acquisition of Hotel Property - Allocation of Purchase Price Based on Fair Values (Detail) - USD ($)	Sep. 26, 2019	Dec. 31, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Net cash		$ 6,346,378	$ 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, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Investment in Hotel Properties, Gross	$ 569,944,891	$ 566,144,310
Less: accumulated depreciation and impairment	(142,120,306)	(122,876,862)
Investment in Hotel Properties, Net	427,824,585	443,267,448
Land and Land Improvements [Member]
Property, Plant and Equipment [Line Items]
Investment in Hotel Properties, Gross	66,088,705	66,031,443
Buildings and Improvements [Member]
Property, Plant and Equipment [Line Items]
Investment in Hotel Properties, Gross	442,063,950	438,268,174
Right of Use Assets [Member]
Property, Plant and Equipment [Line Items]
Investment in Hotel Properties, Gross	5,995,438	6,452,259
Furniture, Fixtures and Equipment [Member]
Property, Plant and Equipment [Line Items]
Investment in Hotel Properties, Gross	$ 55,796,797	$ 55,392,434

Investment in Hotel Propertie_4

Investment in Hotel Properties, Net - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Property Plant And Equipment Capitalized Interest Costs [Abstract]
Impairment of hotel properties	$ 0	$ 0

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($)	May 06, 2020	Apr. 28, 2020	Apr. 16, 2020	Feb. 26, 2018	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Mortgage loan outstanding balance					$ 357,500,000	$ 358,600,000
Cash collateral on deposit					1,900,000
Note Purchase Agreement [Member]
Debt Instrument [Line Items]
Operating partnership purchase of senior notes					20,000,000
Operating partnership purchase of additional senior secured notes					$ 10,000,000
Secured Notes [Member] | Note Purchase Agreement [Member]
Debt Instrument [Line Items]
Debt instrument payment terms					require principal repayment equal to 1.47 times the face amount of the Secured Notes if repaid on or prior to December 30, 2023 and 1.65 times the face amount of the Secured Notes if repaid after December 30, 2023
Debt instrument frequency of periodic payment					quarterly
Operating partnership purchase of senior notes					$ 20,000,000
Debt instrument maturity date					Dec. 30, 2023
Debt instrument optional maturity extension term					1 year
Debt instrument maturity extension fee percentage					1.00%
Interest rate					6.00%
Interest rate upon extension of maturity					10.00%
Debt instrument quarterly interest payment					$ 300,000
Secured Notes [Member] | KWHP SOHO, LLC [Member] | Note Purchase Agreement [Member]
Debt Instrument [Line Items]
Borrowed amount					10,000,000
Secured Notes [Member] | MIG SOHO, LLC [Member] | Note Purchase Agreement [Member]
Debt Instrument [Line Items]
Borrowed amount					10,000,000
Secured Notes [Member] | KWHP SOLO, LLC and MIG SOLO, LLC [Member] | Note Purchase Agreement [Member]
Debt Instrument [Line Items]
Borrowed amount					$ 20,000,000
Debt instrument origination fee percentage					1.00%
Second Notes [Member] | KWHP SOLO, LLC and MIG SOLO, LLC [Member] | Note Purchase Agreement [Member]
Debt Instrument [Line Items]
Borrowed amount					$ 10,000,000
Debt instrument commitment fee percentage					1.00%
Maximum [Member] | Georgian Terrace [Member]
Debt Instrument [Line Items]
Percentage of FF&E reserve funding to debt service, taxes, and operating expenses					50.00%
Mortgage Loans [Member] | The DeSoto [Member]
Debt Instrument [Line Items]
Debt instrument payment of principal deferred start date					Apr. 1, 2020
Debt instrument payment of principal deferred end date					Feb. 1, 2021
Debt instrument payment of interest deferred date					Mar. 1, 2021
FF&E requirement waiver date					Mar. 1, 2021
Debt instrument payment terms					The lender has agreed to the following: (a) deferral of scheduled principal payments due from April 1, 2020 to February 1, 2021; (b) a payment of interest only on March 1, 2021; (c) waiver of FF&E requirement until March 1, 2021; (d) deferred principal and interest are due and payable at maturity; and (e) payment of up to 5.0% of the indebtedness under the loan is guaranteed by the Operating Partnership. The maturity date under the loan modification remains unchanged.
Debt instrument maturity date					Jul. 1, 2026
Mortgage Loans [Member] | Double Tree by Hilton Jacksonville Riverfront [Member]
Debt Instrument [Line Items]
Debt instrument payment terms					The lender has agreed to the following: (a) the April, May, and June 2020 principal and interest payments were paid out of FF&E reserves; (b) FF&E deposits were deferred for the April, May, and June 2020 payment dates; and (c) released FF&E and the deferred FF&E was repaid in 6 monthly installments ending with the December 2020 payment.  The maturity date under the loan modification remains unchanged.
Debt instrument frequency of periodic payment					monthly
Debt instrument repayment of deferred interest ending date					Dec. 31, 2020
Debt instrument maturity date					Jul. 11, 2024
Mortgage Loans [Member] | Double Tree by Hilton Laurel [Member]
Debt Instrument [Line Items]
Debt instrument payment of principal deferred start date					Apr. 1, 2020
Debt instrument payment of principal deferred end date					Sep. 30, 2020
Debt instrument payment terms					The lender has agreed to the following: (a) deferral of scheduled payments of principal and interest due from April 1, 2020 to September 30, 2020; (b) subsequent payments are required to be applied first toward current and deferred interest and then toward principal; (c) any deferred principal is due and payable at maturity; and (d) deferral of principal payments through March 31, 2021.  The maturity date under the loan modification remains unchanged.
Debt instrument payment of interest deferred start date					Apr. 1, 2020
Debt instrument payment of interest deferred end date					Sep. 30, 2020
Debt instrument payment of principal deferral date					Mar. 31, 2021
Debt instrument maturity date					Aug. 5, 2021
Mortgage Loans [Member] | Double Tree By Hilton Philadelphia Airport [Member]
Debt Instrument [Line Items]
Debt instrument payment terms					The lender has agreed to the following: (a) deferral of scheduled principal and interest under the note as well as the interest-rate swap due from April 1, 2020 to June 30, 2020; (b) July 1, 2020 payment of regular principal and interest; (c) deferred principal is due and payable at maturity; and (d) subsequent to September 30, 2020, deferral of principal, interest, and swap payments for August, September and October, and deferral of principal payments through January 2021.  The maturity date was extended by 3 months, or until October 31, 2023.
Debt instrument payment of principal deferral date					Jan. 31, 2021
Debt instrument repayment of deferred interest start date					Jul. 1, 2020
Escrow payment deferred period					3 months
Extended maturity period					3 months
Extended maturity date					Oct. 31, 2023
Debt instrument maturity date					Oct. 31, 2023
Mortgage Loans [Member] | Doubletree By Hilton Raleigh Brownstone - University [Member]
Debt Instrument [Line Items]
Debt instrument payment terms					The lender has agreed to the following: (a) deferral of scheduled interest payments due from April 1, 2020 to July 31, 2021; (b) a one-time fee of $236,375 to be applied to deferred interest; and (c) remainder of deferred interest, along with additional accrued interest on interest, is due and payable by August 1, 2021.
Debt instrument payment of interest deferred start date					Apr. 1, 2020
Debt instrument payment of interest deferred end date					Jul. 31, 2021
Debt instrument payment of one-time fee related to deferred interest					$ 236,375
Debt instrument maturity date					Jul. 27, 2022
Mortgage Loans [Member] | Georgian Terrace [Member]
Debt Instrument [Line Items]
Debt instrument maturity date					Jun. 1, 2025
Mortgage Loans [Member] | Hotel Alba Tampa [Member]
Debt Instrument [Line Items]
Debt instrument payment of principal deferred start date					Apr. 1, 2020
Debt instrument payment of principal deferred end date					Jun. 30, 2021
Debt instrument payment terms					The lender agreed to the deferral of scheduled payments of principal due from April 1, 2020 to June 30, 2021.
Mortgage Loans [Member] | Hotel Ballast Wilmington [Member]
Debt Instrument [Line Items]
Debt instrument payment of principal deferred start date					Apr. 1, 2020
Debt instrument payment of principal deferred end date					Mar. 1, 2021
FF&E requirement waiver date					Mar. 1, 2021
Debt instrument payment terms					The lender has agreed to the following: (a) deferral of scheduled principal payments due from April 1, 2020 to March 1, 2021; (b) deferral of scheduled payments of interest from April 1, 2020 to September 1, 2020; (c) waiver of FF&E requirement until March 1, 2021; (d) deferred principal and interest will be due and payable at maturity; and (e) payment of up to 5.0% of the indebtedness under the loan is guaranteed by the Operating Partnership.  The maturity date under the loan modification remains unchanged.
Debt instrument payment of interest deferred start date					Apr. 1, 2020
Debt instrument payment of interest deferred end date					Sep. 1, 2020
Mortgage Loans [Member] | Hyatt Centric Arlington [Member]
Debt Instrument [Line Items]
Debt instrument payment of principal deferred start date					Apr. 1, 2020
Debt instrument payment of principal deferred end date					Mar. 31, 2021
Debt instrument payment terms					The lender has agreed to the following: (a) deferral of scheduled payments of principal and interest due from April 1, 2020 to March 31, 2021; (b) deferral of scheduled payments of principal due from April 1, 2021 to December 31, 2021; (c) a one-time fee of $100,000; (d) loan balance to be re-amortized as of January 1, 2022; and (e) deferred principal and interest, along with additional accrued interest on interest, is due and payable by July 1, 2022.
Debt instrument payment of interest deferred start date					Apr. 1, 2021
Debt instrument payment of interest deferred end date					Dec. 31, 2021
Debt instrument payment of one-time fee					$ 100,000
Loan balance re-amortization date					Jan. 1, 2022
Debt instrument maturity date					Sep. 18, 2028
Mortgage Loans [Member] | Sheraton Louisville Riverside [Member]
Debt Instrument [Line Items]
Debt instrument payment of principal deferred start date					May 1, 2020
Debt instrument payment of principal deferred end date					Jul. 1, 2020
Debt instrument payment terms					The lender has agreed to the following: (a) deferral of scheduled payments of interest due from May 1, 2020 to July 1, 2020; (b) deferral of scheduled payments of principal due from May 1, 2020 to April 1, 2021; (c) subsequent payments are required to be applied first toward current and deferred interest and then toward principal; and (d) any deferred principal is due and payable at maturity.  The maturity date under the loan modification remains unchanged.
Debt instrument payment of interest deferred start date					May 1, 2020
Debt instrument payment of interest deferred end date					Apr. 1, 2021
Debt instrument maturity date					Dec. 1, 2026
Mortgage Loans [Member] | The Whitehall [Member]
Debt Instrument [Line Items]
Debt instrument payment of principal deferred start date					Apr. 1, 2020
Debt instrument payment of principal deferred end date					Jan. 31, 2021
Debt instrument payment terms					The lender has agreed to the following: (a) deferral of scheduled payments of principal due from April 1, 2020 to January 31, 2021; (b) deferral of schedule payments of interest from April 1, 2020 to October 12, 2020; (c) deferred payments will be added to the principal balance of the loan and subsequent payments will be calculated based on the remainder of the amortization period; (d) the interest rate is changed from LIBOR plus 3.50% to New York Prime Rate plus 1.25%; and (e) the prepayment penalty is changed to: (i) 3.0% if prepaid on or before April 12, 2021; (ii) 2.0% if prepaid after April 12, 2021 but on or before April 12, 2022; (iii) 1.0% if prepaid after April 12, 2022 but on or before November 26, 2022; and (iv) no prepayment fee if prepaid after November 26, 2022.  The maturity date under the loan modification remains unchanged.
Debt instrument payment of interest deferred start date					Apr. 1, 2020
Debt instrument payment of interest deferred end date					Oct. 12, 2020
Extended maturity date				Feb. 26, 2023
Debt instrument maturity date					Feb. 26, 2023
Mortgage Loans [Member] | The Whitehall [Member] | New York Prime Rate [Member]
Debt Instrument [Line Items]
Excess Interest rate on mortgage debt					1.25%
Mortgage Loans [Member] | The Whitehall [Member] | Prepaid on or Before April 12, 2021 [Member]
Debt Instrument [Line Items]
Prepayment penalty percentage					3.00%
Mortgage Loans [Member] | The Whitehall [Member] | Prepaid After April 12, 2021 on or Before April 12, 2022 [Member]
Debt Instrument [Line Items]
Prepayment penalty percentage					2.00%
Mortgage Loans [Member] | The Whitehall [Member] | Prepaid After April 12, 2022 on or Before November 26, 2022 [Member]
Debt Instrument [Line Items]
Prepayment penalty percentage					1.00%
Mortgage Loans [Member] | The Whitehall [Member] | Prepaid After November 26, 2022 [Member]
Debt Instrument [Line Items]
Prepayment penalty percentage					0.00%
Mortgage Loans [Member] | Maximum [Member] | The DeSoto [Member]
Debt Instrument [Line Items]
Payment percentage of indebtedness guaranteed under the loan					5.00%
Mortgage Loans [Member] | Maximum [Member] | Hotel Ballast Wilmington [Member]
Debt Instrument [Line Items]
Payment percentage of indebtedness guaranteed under the loan					5.00%
Promissory Note [Member]
Debt Instrument [Line Items]
Paycheck protection program loan term			5 years		5 years
Paycheck protection program loan interest rate			1.00%		1.00%
Paycheck protection program loan repayment terms					Equal payments of principal and interest begin no later than 10 months following origination of the loan and are amortized over the remaining term of the loan
Promissory Note [Member] | Operating Partnership [Member]
Debt Instrument [Line Items]
Paycheck protection program loan amount			$ 333,500
Promissory Note [Member] | Fifth Third Bank [Member]
Debt Instrument [Line Items]
Paycheck protection program loan amount	$ 952,700	$ 9,432,900

Debt - Schedule of Mortgage Deb

Debt - Schedule of Mortgage Debt Obligations on Hotels (Detail) - USD ($)	Feb. 26, 2018	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Mortgage loans		$ 359,551,870	$ 360,980,255
Deferred financing costs, net		(2,122,822)	(2,487,982)
Unamortized premium on loan		116,929	141,611
Total Mortgage Loans, Net		357,545,977	358,633,884
The DeSoto [Member] | Mortgage Loans [Member]
Debt Instrument [Line Items]
Mortgage loans		$ 32,820,733	32,967,166
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		$ 33,655,483	34,225,971
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		$ 8,654,754	8,534,892
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		$ 41,804,700	41,419,590
Prepayment Penalties		None
Maturity Date		Oct. 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		2.27%
DoubleTree Resort by Hilton Hollywood Beach [Member] | Mortgage Loans [Member]
Debt Instrument [Line Items]
Mortgage loans		$ 55,878,089	56,057,218
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		$ 42,507,512	43,335,291
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		$ 17,946,480	18,000,104
Prepayment Penalties		None
Maturity Date		Jun. 30, 2022
Interest rate applicable to the mortgage loan		2.27%
Hotel Ballast Wilmington,Tapestry Collection by Hilton [Member] | Mortgage Loans [Member]
Debt Instrument [Line Items]
Mortgage loans		$ 33,259,067	33,401,622
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		$ 48,990,136	49,173,836
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		$ 11,037,086	11,114,145
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		$ 14,697,830	$ 14,450,420
Prepayment Penalties		Yes
Maturity Date		Feb. 26, 2023
Amortization Provisions, Term	25 years	25 years
Interest rate applicable to the mortgage loan		1.25%

Debt - Schedule of Mortgage D_2

Debt - Schedule of Mortgage Debt Obligations on Hotels (Parenthetical) (Detail) - USD ($)	Feb. 26, 2018	Dec. 31, 2020	Dec. 31, 2018	Dec. 31, 2019
Debt Instrument [Line Items]
Loan rate swapped for fixed interest rate		5.237%
Proceeds from mortgage debt			$ 175,800,000
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		2024-03
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		2021-04
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
Interest rate applicable to the mortgage loan		2.27%
Mortgage Loans [Member] | Double Tree By Hilton Philadelphia Airport [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Excess Interest rate on mortgage debt		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
Proceeds from mortgage debt		$ 18,300,000
Additional proceeds from mortgage loans		$ 5,200,000
Debt instrument maturity term		4 years
Extended maturity period		1-year
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		2.27%
Mortgage Loans [Member] | Doubletree By Hilton Raleigh Brownstone - University [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Excess Interest rate on mortgage debt		4.00%
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		2025-06
Interest rate applicable to the mortgage loan		4.913%
Mortgage Loans [Member] | Georgian Terrace [Member]
Debt Instrument [Line Items]
Amortization Period		30 years
Prepayment date before maturity		2025-02
Interest rate applicable to the mortgage loan		4.42%
Mortgage Loans [Member] | Hotel Alba Tampa, Tapestry Collection by Hilton [Member]
Debt Instrument [Line Items]
Floating interest rate period		1 month
Fixed interest rate		3.75%
Debt instrument periodic payment		$ 26,812
Interest rate applicable to the mortgage loan		2.27%
Mortgage Loans [Member] | Hotel Alba Tampa, Tapestry Collection by Hilton [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Excess Interest rate on mortgage debt		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
Interest rate applicable to the mortgage loan		1.25%
Mortgage Loans [Member] | The Whitehall [Member] | New York Prime Rate [Member]
Debt Instrument [Line Items]
Excess Interest rate on mortgage debt		1.25%
Mortgage Loans [Member] | The Whitehall [Member] | Prepaid on or Before April 12, 2021 [Member]
Debt Instrument [Line Items]
Prepayment penalty percentage		3.00%
Mortgage Loans [Member] | The Whitehall [Member] | Prepaid After April 12, 2021 [Member]
Debt Instrument [Line Items]
Prepayment penalty percentage		2.00%
Mortgage Loans [Member] | The Whitehall [Member] | Prepaid After April 12, 2022 on or Before November 26, 2022 [Member]
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, 2020	Dec. 31, 2019
Debt Disclosure [Abstract]
For the twelve months ending December 31, 2021	$ 14,740,992
December 31, 2022	42,240,755
December 31, 2023	61,215,532
December 31, 2024	37,476,056
December 31, 2025	93,219,331
December 31, 2026 and thereafter	110,659,204
Total future maturities	$ 359,551,870	$ 360,980,255

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail)	Sep. 26, 2019USD ($)RenewalPeriod	Mar. 01, 2018USD ($)RenewalPeriod	Dec. 31, 2019USD ($)ft²	Feb. 28, 2017USD ($)shares	Dec. 31, 2020USD ($)ft²Hotel	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	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
Purchased common stock, value				$ 4,900,000
Hotel Ballast [Member]
Operating Leased Assets [Line Items]
Monthly contribution of room revenues					4.00%
Restricted cash reserve					amount equal to one-twelfth (1/12) of the annual real estate taxes due for the properties
The DeSoto [Member]
Operating Leased Assets [Line Items]
Monthly contribution of room revenues					4.00%
Restricted cash reserve					amount equal to one-twelfth (1/12) of the annual real estate taxes due for the properties
DoubleTree by Hilton Brownstone-University [Member]
Operating Leased Assets [Line Items]
Monthly contribution of room revenues					4.00%
Restricted cash reserve					amount equal to one-twelfth (1/12) of the annual real estate taxes due for the properties
Double Tree by Hilton Jacksonville Riverside [Member]
Operating Leased Assets [Line Items]
Monthly contribution of room revenues					4.00%
Restricted cash reserve					amount equal to one-twelfth (1/12) of the annual real estate taxes due for the properties
DoubleTree Resort by Hilton Hollywood Beach [Member]
Operating Leased Assets [Line Items]
Monthly contribution of room revenues					4.00%
Restricted cash reserve					amount equal to one-twelfth (1/12) of the annual real estate taxes due for the properties
Whitehall [Member]
Operating Leased Assets [Line Items]
Monthly contribution of room revenues					4.00%
Georgian Terrace [Member]
Operating Leased Assets [Line Items]
Monthly contribution of room revenues					4.00%
Restricted cash reserve					amount equal to one-twelfth (1/12) of the annual real estate taxes due for the properties
Double Tree By Hilton Philadelphia Airport [Member]
Operating Leased Assets [Line Items]
Monthly contribution of room revenues					4.00%
Minimum [Member]
Operating Leased Assets [Line Items]
Franchise fees of room revenues					3.00%
Additional fees of gross revenues from the hotels					3.00%
Franchise agreement expiry date					2021-11
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					2038-03
Maximum [Member] | ESOP [Member]
Operating Leased Assets [Line Items]
Borrowed amount									$ 5,000,000
Chesapeake Hospitality [Member]
Operating Leased Assets [Line Items]
Initial term of agreement					5 years
Chesapeake Hospitality [Member] | Individual Hotel Management Agreements [Member]
Operating Leased Assets [Line Items]
Master management agreement expiration date					Mar. 31, 2025
Number of wholly-owned hotels operated under master management agreement | Hotel					12
Expiry date of master management agreement					on March 31, 2025 and may be extended for up to two additional periods of five years each, subject to the approval of both parties
Our Town Hospitality [Member]
Operating Leased Assets [Line Items]
Lease, agreement term					5 years
Lessee, operating lease, existence of option to extend [true false]					true
Additional renewal of agreement					5 years
Master management agreement expiration date					Mar. 31, 2025
Number of wholly-owned hotels operated under master management agreement | Hotel					12
Initial terms commencing and expiry period of master management agreement					Each of these management agreements have initial terms commencing January 1, April 1 and November 15, 2020, respectively and all agreements expire March 31, 2025
Hyatt Centric Arlington [Member]
Operating Leased Assets [Line Items]
Monthly contribution of room revenues					4.00%
Restricted cash reserve					amount equal to one-twelfth (1/12) of the annual real estate taxes due for the properties
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					$ 153,019	$ 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		2025
Number of renewal periods exercised under ground lease | RenewalPeriod		5
Duration period under ground lease for each renewal periods exercised		10 years
Hyde Beach House [Member] | Management Agreement for Parking Garage and Poolside [Member]
Operating Leased Assets [Line Items]
Rent expense					$ 85,166	72,625	0
Annual payment	$ 270,100
Initial term of agreement	20 years
Lessee, operating lease expiration year	2039
Lessee, operating lease, existence of option to extend [true false]	true
Lessee, operating lease, option to extend					The initial term of the parking garage and cabana lease expires in 2039 and may be extended for four additional renewal periods of 5 years each.
Number of additional renewal periods | RenewalPeriod	4
Additional renewal of agreement	5 years
Williamsburg Virginia [Member]
Operating Leased Assets [Line Items]
Area of commercial space leased | ft²			8,500		5,216
Operating lease, expiring date					Dec. 31, 2019
Rent expense			$ 218,875			$ 107,936	96,117
Commencement date of agreement			Jan. 1, 2020		Sep. 1, 2009
Lease, agreement term			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					$ 74,809	72,984	$ 72,984
Hotel Alba Tampa, Tapestry Collection by Hilton [Member]
Operating Leased Assets [Line Items]
Rent expense					$ 2,604	$ 2,152		$ 2,602
Lease agreement					5 years
Commencement date of agreement					2019-07
Operating lease, expiring date					2024-07
Annual payment					$ 2,432
Additional renewal of agreement					5 years
8,500 Square Feet of Commercial Office Space [Member] | Williamsburg Virginia [Member]
Operating Leased Assets [Line Items]
Rent expense					$ 223,607
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)	Dec. 31, 2020USD ($)
Finance Lease Liabilities Payments Due [Abstract]
For the twelve months ending December 31, 2021	$ 597,502
December 31, 2022	653,742
December 31, 2023	621,452
December 31, 2024	632,935
December 31, 2025	583,461
December 31, 2026 and thereafter	14,754,214
Total	$ 17,843,306

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	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Preferred Units [Line Items]
Preferred stock, shares authorized							11,000,000	11,000,000
Preferred stock, liquidation preference per share							$ 25	$ 25
Preferred stock amount of undeclared and cumulative preferred dividends							$ 6,600,000
Proceeds from sale of preferred stock, net								$ 33,066,665	$ 1,005,063
Preferred units amount of undeclared and cumulative preferred dividends							6,600,000
Unpaid preferred dividends and distributions							$ 2,188,910
Sotherly Hotels LP [Member]
Preferred Units [Line Items]
Preferred stock, liquidation preference per share							$ 25	$ 25
Proceeds from sale of preferred stock, net								$ 33,066,665	$ 1,005,063
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			52,141
Preferred units, dividend rate percentage					7.875%	7.875%	7.875%	7.875%
Proceeds from sale of preferred units, net					$ 1,000,000	$ 1,000,000
Sales Agency Agreement [Member] | Sandler O’Neill [Member]
Preferred Units [Line Items]
Preferred stock, par value	$ 0.01
8.25% Series D Cumulative Redeemable Perpetual Preferred Stock [Member]
Preferred Units [Line Items]
Preferred stock, shares authorized							11,000,000	11,000,000
Preferred stock, liquidation preference per share							$ 25
Preferred stock, shares issued			1,200,000	1,200,000			1,200,000	1,200,000
Proceeds from sale of preferred stock, net			$ 28,400,000	$ 28,400,000
Preferred stock, par value							$ 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
Preferred stock, liquidation preference per share							$ 25
Preferred stock, shares issued							1,554,610	1,554,610
Preferred stock, par value							$ 0.01	$ 0.01
Preferred stock, dividend rate percentage							7.875%	7.875%
7.875% Series C Cumulative Redeemable Perpetual Preferred Stock [Member] | 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	7.875%
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, 2020	Dec. 31, 2019	May 31, 2019	Apr. 30, 2019
Class Of Stock [Line Items]
Preferred Stock, Liquidation Preference		$ 25	$ 25
8.0% Series B Cumulative Redeemable Perpetual Preferred Stock [Member]
Class Of Stock [Line Items]
Preferred Stock, Per Annum Rate		8.00%	8.00%
Preferred Stock, Liquidation Preference		$ 25
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
Preferred Stock, Number of Shares Issued		1,554,610	1,554,610
Preferred Stock, Number of Shares Outstanding		1,554,610	1,554,610
Preferred Stock, Quarterly Distributions Per Share		$ 0.492188
8.25% Series D Cumulative Redeemable Perpetual Preferred Stock [Member]
Class Of Stock [Line Items]
Preferred Stock, Per Annum Rate		8.25%	8.25%
Preferred Stock, Liquidation Preference		$ 25
Preferred Stock, Number of Shares Issued		1,200,000	1,200,000	1,200,000	1,200,000
Preferred Stock, Number of Shares Outstanding		1,200,000	1,200,000
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	Dec. 31, 2020	Dec. 31, 2019
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
Preferred Units, Number of Units Issued					1,610,000	1,610,000
Preferred Units, Number of Units Outstanding					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%
Preferred Units, Liquidation Preference					$ 25
Preferred Units, Number of Units Issued					1,554,610	1,554,610
Preferred Units, Number of Units Outstanding					1,554,610	1,554,610
Preferred Units, Quarterly Distributions Per Unit					$ 0.492188
8.25% Series D Cumulative Redeemable Perpetual Preferred Units [Member]
Preferred Units [Line Items]
Preferred Units, Per Annum Rate	8.25%	8.25%			8.25%	8.25%
Preferred Units, Liquidation Preference					$ 25
Preferred Units, Number of Units Issued					1,200,000	1,200,000
Preferred Units, Number of Units Outstanding					1,200,000	1,200,000
Preferred Units, Quarterly Distributions Per Unit					$ 0.515625

Preferred Stock and Units - Qua

Preferred Stock and Units - Quarterly Distributions Declared and Payable by Operating Partnership (Detail) - Sotherly Hotels LP [Member] - $ / shares	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018
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
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
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	$ 0.515625	$ 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, 2020
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)	Dec. 17, 2020shares	Dec. 01, 2020shares	May 01, 2020shares	Feb. 23, 2020shares	Jan. 01, 2020shares	Oct. 01, 2019shares	Feb. 22, 2019shares	Feb. 11, 2019shares	Feb. 05, 2018shares	Jan. 01, 2018shares	Dec. 02, 2016USD ($)$ / shares	Dec. 31, 2018USD ($)shares	Dec. 31, 2020USD ($)$ / sharesshares	Dec. 31, 2019USD ($)$ / sharesshares	Dec. 31, 2018USD ($)shares	Dec. 31, 2020USD ($)$ / sharesshares	Aug. 31, 2018USD ($)$ / shares
Class of Stock [Line Items]
Common stock, shares authorized													69,000,000	69,000,000		69,000,000
Common stock, par value | $ / shares											$ 0.01		$ 0.01	$ 0.01		$ 0.01
Voting right													Each outstanding share of common stock entitles the holder to one vote on all matters submitted to a vote of stockholders.
Repurchased common stock, value | $													$ 5,900,000
Number of common stock shares repurchased													882,820
Stock repurchase program authorization expires date													Dec. 31, 2020
Proceeds from sale of common stock, net | $															$ 574,174
Common stock, shares outstanding													15,023,850	14,272,378		15,023,850
Common stock exchange ratio													1			1
Redemption of units in operating partnership																0
Operating Partnership common units not owned													1,166,501	1,728,140		1,166,501
Unpaid common dividends and distributions amount to holders | $													$ 2,088,161			$ 2,088,161
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
Common Stock [Member]
Class of Stock [Line Items]
Number of issued unit in Operating Partnership				15,000	45,000
Conversion of units in Operating Partnership to shares of common stock, shares		15,000	57,687		488,952	50,000							561,639	50,000
Restricted shares issued				17,250	45,000								187,583	13,000	40,000
Non-restricted shares issued				2,250
Conversion of units in Operating Partnership to shares of common stock, shares		15,000	57,687		488,952	50,000							561,639	50,000
Stock issued during period															88,297
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
Sotherly Hotels LP [Member]
Class of Stock [Line Items]
Operating Partnership common units outstanding													16,190,351	16,000,518		16,190,351
Fair market value | $													$ 2,900,000	$ 11,700,000		$ 2,900,000
Sotherly Hotels LP [Member] | Common Stock [Member]
Class of Stock [Line Items]
Number of issued unit in Operating Partnership	127,583						250	12,750	17,250	25,000
Restricted shares issued									15,000	25,000
Non-restricted shares issued									2,250
Maximum [Member]
Class of Stock [Line Items]
Repurchased common stock, value | $											$ 10,000,000

Common Stock and Units - Quarte

Common Stock and Units - Quarterly Stock Dividends and Unit Distributions Declared and Payable Per Common Stock/Unit (Detail) - $ / shares	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018
Sotherly Hotels LP [Member]
Class of Stock [Line Items]
Dividends payable amount per share	$ 0.130	$ 0.130	$ 0.130	$ 0.130	$ 0.125	$ 0.125	$ 0.125	$ 0.120	$ 0.115

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail)	May 01, 2020shares	Apr. 01, 2020Resort	Jan. 01, 2020USD ($)Hotelshares	Dec. 13, 2019USD ($)Hotel	Oct. 01, 2019shares	Dec. 31, 2020USD ($)Hotel	Sep. 30, 2020USD ($)	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2020USD ($)ft²Hotel	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Oct. 31, 2019	Sep. 06, 2019Hotel
Related Party Transaction [Line Items]
Net operating income						$ (9,107,223)	$ (7,409,739)	$ (11,429,205)	$ (1,803,503)	$ 1,845,845	$ 2,150,166	$ 8,887,458	$ 5,463,046	$ (29,749,670)	$ 18,346,515	$ 20,106,311
Accounts receivable - affiliate						$ 401,924				101,771				$ 401,924	101,771
Our Town Hospitality [Member]
Related Party Transaction [Line Items]
Number of wholly owned hotels | Hotel						12								12
Number of rental programs | Resort		2
Accounts receivable - affiliate						$ 700,000				600,000				$ 700,000	600,000
Chesapeake Hospitality [Member]
Related Party Transaction [Line Items]
Expire date of remaining individual hotels		Apr. 1, 2020
Andrew M. Sims [Member]
Related Party Transaction [Line Items]
Business-related air travel expense reimbursed to partnership														$ 0	119,907	146,105
Andrew M. Sims [Member] | Our Town Hospitality [Member]
Related Party Transaction [Line Items]
Percentage of total outstanding ownership interests						19.50%								19.50%
Andrew M. Sims [Member] | Chesapeake Hospitality [Member]
Related Party Transaction [Line Items]
Percentage of total outstanding ownership interests						0.00%								0.00%			19.30%
David R. Folsom [Member] | Our Town Hospitality [Member]
Related Party Transaction [Line Items]
Percentage of total outstanding ownership interests						2.50%								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
Additional renewal of agreement						5 years								5 years
Lessee, operating lease, existence of option to extend [true false]														true
Operating lease lease income lease payments														$ 158,454	0
Line of credit facility, interest rate at period						3.50%								3.50%
Line of Credit Facility, Outstanding														$ 600,000	0
Employee medical benefits paid														2,900,000	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 [Member]
Related Party Transaction [Line Items]
Number of wholly owned hotels | Hotel																		10
Base management fees earned by related party														$ 1,500,000	0
Our Town Hospitality [Member] | OTH Master Agreement [Member]
Related Party Transaction [Line Items]
Number of wholly owned hotels | Hotel				10
Unreimbursed management fees				$ 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
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						$ 0				$ 81,223				$ 0	81,223
Employee medical benefits paid														$ 200,000	$ 5,600,000	5,100,000
Expire date of wholly-owned hotels															Jan. 1, 2020
Number of wholly-owned hotels expired | Hotel			10
Termination fees paid			$ 200,000
Agreement term														5 years
Base management and administrative fees earned by related party														$ 241,332	$ 4,803,185	4,617,471
Incentive management fees expense by related party														(40,375)	164,168	168,231
Workers' compensation insurance premium paid														$ 100,000	1,000,000	900,000
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%
Immediate Family Members of Chairman [Member]
Related Party Transaction [Line Items]
Total compensation for related parties														$ 464,218	$ 415,005	$ 386,456
Previous Director [Member]
Related Party Transaction [Line Items]
Conversion of units in Operating Partnership to shares of common stock, shares | shares	57,867		410,000		50,000

Retirement Plans - Additional I

Retirement Plans - Additional Information (Detail) - USD ($)	May 15, 2020	Feb. 28, 2017	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 29, 2016
Compensation And Retirement Disclosure [Abstract]
Employer contribution for first 3% of employee contributions	100.00%
Employer contribution for next 2% of employee contributions	50.00%
Percentage of first specified employee contributions	3.00%
Percentage of next specified employee contributions	2.00%
Contribution for retirement plan			$ 42,841	$ 72,438	$ 71,623
Maximum amount allocated to purchase common stock under ESOP						$ 5,000,000
Number of common stock, shares purchased		682,500
Purchased common stock, value		$ 4,900,000
Total number of ESOP shares			170,419	104,672
Fair value of ESOP released from suspense account and recognized compensation cost			$ 426,048	$ 709,676
Compensation cost recognized			$ 175,367	$ 219,645	$ 209,263
Number of non committed, unearned ESOP shares			509,069	574,816	613,194
Fair value of unallocated ESOP shares			$ 1,272,672	$ 3,897,252
Number of ESOP shares allocated			170,419	66,295
Number of ESOP shares committed to be released			0	38,377

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, 2020	Dec. 31, 2019	Dec. 31, 2018
Compensation And Retirement Disclosure [Abstract]
Number of ESOP shares allocated	170,419	66,295
Number of ESOP shares committed to be released	0	38,377
Total number of ESOP allocated and committed-to-be-released	170,419	104,672
Number of non committed, unearned ESOP shares	509,069	574,816	613,194
Total number of ESOP shares	679,488	679,488
Fair value of ESOP allocated shares	$ 426,048	$ 449,480
Fair value of ESOP Committed-to-be released shares		260,196
Total fair value of ESOP allocated and committed-to-be-released	426,048	709,676
Fair value of ESOP unallocated shares	1,272,672	3,897,252
Total fair value of ESOP shares	$ 1,698,720	$ 4,606,928

Indirect Hotel Operating Expe_3

Indirect Hotel Operating Expenses - Summary of Indirect Hotel Operating Expenses (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	$ 45,487,308	$ 70,395,633	$ 65,645,500
Sales and Marketing [Member]
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	8,094,085	16,857,613	15,998,281
General and Administrative [Member]
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	10,542,495	15,401,458	14,581,707
Repairs and Maintenance [Member]
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	5,490,145	7,939,836	7,624,031
Utilities [Member]
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	4,817,508	6,282,218	6,266,192
Property Taxes [Member]
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	7,014,472	7,044,085	6,225,508
Management Fees, Including Incentive [Member]
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	1,822,359	5,259,194	4,785,702
Franchise Fees [Member]
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	2,042,902	4,706,459	4,308,065
Insurance [Member]
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	3,097,245	3,303,366	2,894,708
Information and Telecommunications [Member]
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	2,271,266	2,558,489	2,142,698
Other [Member]
Component Of Operating Cost And Expense [Line Items]
Total indirect hotel operating expenses	$ 294,831	$ 1,042,915	$ 818,608

Income Taxes - Components of In

Income Taxes - Components of Income Tax (Benefit) Provision (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current:
Federal	$ (125,587)	$ (125,587)
State	(6,054)	157,012	$ 149,410
Total	(131,641)	31,425	149,410
Deferred:
Federal	(7,576,931)	(244,360)	351,663
State	(1,705,939)	(36,545)	(31,724)
Subtotals	(9,282,870)	(280,905)	319,939
Change in deferred tax valuation allowance	14,694,954
Deferred income taxes	5,412,084	(280,905)	319,939
Income tax (benefit) provision	$ 5,280,443	$ (249,480)	$ 469,349

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Statutory Federal Income Tax Provision (Benefit) (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Statutory federal income tax provision	$ (10,164,517)	$ 194,479	$ (29,150)
Effect of non-taxable REIT loss	17,156,953	(564,426)	380,813
State income tax provision	(1,711,993)	120,467	117,686
Income tax (benefit) provision	$ 5,280,443	$ (249,480)	$ 469,349

Income Taxes - Schedule of Sign

Income Taxes - Schedule of Significant Components of Deferred Tax Asset (Detail) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Deferred tax asset:
Net operating loss carryforwards	$ 14,409,456	$ 4,988,283
Accrued compensation	108,595	335,621
Accrued expenses and other	128,257	19,427
Intangible assets	48,647	68,753
Less: Valuation allowance	(14,694,955)
Total	$ 0	$ 5,412,084

Loss per Share and per Unit - A

Loss per Share and per Unit - Additional Information (Detail) - shares	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Earnings Per Share [Abstract]
Number of non-committed, unearned ESOP shares	509,069	574,816	613,194

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, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Numerator
Net loss attributable to common stockholders for basic computation	$ (14,240,987)	$ (12,259,908)	$ (17,124,612)	$ (14,323,699)	$ (3,418,950)	$ (106,827)	$ (731,711)	$ (1,653,763)	$ (57,949,206)	$ (5,911,251)	$ (5,719,978)
Denominator
Weighted average number of common shares outstanding									14,866,197	14,233,513	14,145,838
Weighted average number of Unearned ESOP Shares									(554,148)	(590,940)	(628,350)
Total weighted average number of common shares outstanding for basic computation									14,312,049	13,642,573	13,517,488
Basic net loss per share									$ (4.05)	$ (0.43)	$ (0.42)

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, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule Of Computation Of Basic And Diluted Earnings Per Common Share [Line Items]
Net loss attributable to general and limited partnership unitholders for basic computation	$ (62,438,547)	$ (6,645,127)	$ (6,438,071)
Weighted average number of general and limited partnership units outstanding	16,065,499	16,011,653	15,923,978
Basic net loss per general and limited partnership unit	$ (3.89)	$ (0.42)	$ (0.40)

Quarterly Operating Results -_3

Quarterly Operating Results - Unaudited - Quarterly Operating Results (Detail) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Total revenue	$ 14,585,726	$ 14,414,478	$ 5,293,907	$ 37,208,465	$ 44,304,953	$ 42,552,175	$ 51,540,701	$ 47,390,304
Total operating expenses	23,692,949	21,824,217	16,723,112	39,011,968	42,459,108	40,402,009	42,653,243	41,927,258
Net operating income	(9,107,223)	(7,409,739)	(11,429,205)	(1,803,503)	1,845,845	2,150,166	8,887,458	5,463,046	$ (29,749,670)	$ 18,346,515	$ 20,106,311
Net income (loss)	(13,010,359)	(11,039,271)	(16,301,070)	(13,332,205)	(1,652,288)	2,068,746	1,149,315	(390,205)	(53,682,905)	1,175,568	(608,157)
Net loss attributable to common shareholders	$ (14,240,987)	$ (12,259,908)	$ (17,124,612)	$ (14,323,699)	$ (3,418,950)	$ (106,827)	$ (731,711)	$ (1,653,763)	$ (57,949,206)	$ (5,911,251)	$ (5,719,978)
Loss per share attributable to common shareholders– basic and diluted	$ (0.98)	$ (0.86)	$ (1.20)	$ (1.01)	$ (0.25)	$ (0.01)	$ (0.05)	$ (0.12)
Net loss available to operating partnership unitholders	$ (15,199,271)	$ (13,228,181)	$ (18,489,980)	$ (15,521,115)	$ (3,841,184)	$ (120,164)	$ (823,067)	$ (1,860,712)
Loss per unit attributable to operating partnership unitholders– basic and diluted	$ (0.95)	$ (0.82)	$ (1.15)	$ (0.97)	$ (0.23)	$ (0.01)	$ (0.05)	$ (0.12)

Subsequent Events- Additional I

Subsequent Events- Additional Information (Detail) - shares	Feb. 12, 2021	Feb. 04, 2021	Jan. 05, 2021	Dec. 31, 2020
Subsequent Event [Member] | Independent Directors [Member]
Subsequent Event [Line Items]
Restricted shares issued		15,000
Subsequent Event [Member] | Employees [Member]
Subsequent Event [Line Items]
Issuance of unrestricted shares		136,281
Mortgage Loans [Member] | Double Tree by Hilton Laurel [Member]
Subsequent Event [Line Items]
Debt instrument payment of principal deferred start date				Apr. 1, 2020
Debt instrument payment of principal deferred end date				Sep. 30, 2020
Debt instrument payment of interest deferred start date				Apr. 1, 2020
Debt instrument payment of interest deferred end date				Sep. 30, 2020
Debt instrument payment terms				The lender has agreed to the following: (a) deferral of scheduled payments of principal and interest due from April 1, 2020 to September 30, 2020; (b) subsequent payments are required to be applied first toward current and deferred interest and then toward principal; (c) any deferred principal is due and payable at maturity; and (d) deferral of principal payments through March 31, 2021.  The maturity date under the loan modification remains unchanged.
Debt instrument payment of principal deferral date				Mar. 31, 2021
Mortgage Loans [Member] | Double Tree by Hilton Laurel [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Debt instrument payment of principal deferred start date			Apr. 1, 2020
Debt instrument payment of principal deferred end date			Sep. 30, 2020
Debt instrument payment of interest deferred start date			Apr. 1, 2020
Debt instrument payment of interest deferred end date			Sep. 30, 2020
Debt instrument payment terms			(a) deferral of scheduled payments of principal and interest due from April 1, 2020 to September 30, 2020; (b) subsequent payments are required to be applied first toward current and deferred interest and then toward principal; (c) any deferred principal is due and payable at maturity; and (d) the lender agreed to defer principal payments through March 31, 2021.  The maturity date under the loan modification remains unchanged.
Debt instrument payment of principal deferral date			Mar. 31, 2021
Mortgage Loans [Member] | Hotel Alba Tampa [Member]
Subsequent Event [Line Items]
Debt instrument payment of principal deferred start date				Apr. 1, 2020
Debt instrument payment of principal deferred end date				Jun. 30, 2021
Debt instrument payment terms				The lender agreed to the deferral of scheduled payments of principal due from April 1, 2020 to June 30, 2021.
Mortgage Loans [Member] | Hotel Alba Tampa [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Debt instrument payment of principal deferred start date	Apr. 1, 2020
Debt instrument payment of principal deferred end date	Jun. 30, 2021
Debt instrument payment terms	The lender agreed to the deferral of scheduled payments of principal due from April 1, 2020 to June 30, 2021.

Schedule III - Real Estate an_2

Schedule III - Real Estate and Accumulated Depreciation - Real Estate and Accumulated Depreciation (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 359,552
Initial Costs, Land	58,009
Initial Costs, Building & Improvements	316,046
Costs Capitalized Subsequent to Acquisition, Land	8,080
Costs Capitalized Subsequent to Acquisition, Building & Improvements	126,018
Gross Amount at End of Year, Land	66,089
Gross Amount at End of Year, Building & Improvements	442,064
Gross Amount at End of Year, Total	508,153	$ 504,300	$ 489,067
Accumulated Depreciation & Impairment	$ (111,758)
The DeSoto - Savannah, Georgia [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Description	The DeSoto – Savannah, Georgia
Encumbrances	$ 32,821
Initial Costs, Land	600
Initial Costs, Building & Improvements	13,562
Costs Capitalized Subsequent to Acquisition, Land	813
Costs Capitalized Subsequent to Acquisition, Building & Improvements	20,010
Gross Amount at End of Year, Land	1,413
Gross Amount at End of Year, Building & Improvements	33,572
Gross Amount at End of Year, Total	34,985
Accumulated Depreciation & Impairment	$ (12,915)
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	$ 33,655
Initial Costs, Land	7,090
Initial Costs, Building & Improvements	14,604
Costs Capitalized Subsequent to Acquisition, Land	148
Costs Capitalized Subsequent to Acquisition, Building & Improvements	7,753
Gross Amount at End of Year, Land	7,238
Gross Amount at End of Year, Building & Improvements	22,357
Gross Amount at End of Year, Total	29,595
Accumulated Depreciation & Impairment	$ (9,001)
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	$ 8,655
Initial Costs, Land	900
Initial Costs, Building & Improvements	9,443
Costs Capitalized Subsequent to Acquisition, Land	71
Costs Capitalized Subsequent to Acquisition, Building & Improvements	5,769
Gross Amount at End of Year, Land	971
Gross Amount at End of Year, Building & Improvements	15,212
Gross Amount at End of Year, Total	16,183
Accumulated Depreciation & Impairment	$ (5,825)
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	$ 41,805
Initial Costs, Land	2,100
Initial Costs, Building & Improvements	22,031
Costs Capitalized Subsequent to Acquisition, Land	399
Costs Capitalized Subsequent to Acquisition, Building & Improvements	6,899
Gross Amount at End of Year, Land	2,499
Gross Amount at End of Year, Building & Improvements	28,930
Gross Amount at End of Year, Total	31,429
Accumulated Depreciation & Impairment	$ (12,118)
Date of Construction	1972
Date Acquired	2004
DoubleTree by Hilton Philadelphia Airport - Philadelphia, Pennsylvania [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	3 years
DoubleTree by Hilton Philadelphia Airport - Philadelphia, Pennsylvania [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	39 years
DoubleTree by Hilton Raleigh Brownstone - University - Raleigh, North Carolina [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Description	DoubleTree by Hilton Raleigh Brownstone –    University – Raleigh, North Carolina
Encumbrances	$ 18,300
Initial Costs, Land	815
Initial Costs, Building & Improvements	7,416
Costs Capitalized Subsequent to Acquisition, Land	3,795
Costs Capitalized Subsequent to Acquisition, Building & Improvements	6,809
Gross Amount at End of Year, Land	4,610
Gross Amount at End of Year, Building & Improvements	14,225
Gross Amount at End of Year, Total	18,835
Accumulated Depreciation & Impairment	$ (6,920)
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	$ 55,878
Initial Costs, Land	22,865
Initial Costs, Building & Improvements	67,660
Costs Capitalized Subsequent to Acquisition, Land	634
Costs Capitalized Subsequent to Acquisition, Building & Improvements	8,566
Gross Amount at End of Year, Land	23,499
Gross Amount at End of Year, Building & Improvements	76,226
Gross Amount at End of Year, Total	99,725
Accumulated Depreciation & Impairment	$ (11,031)
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	$ 42,508
Initial Costs, Land	10,128
Initial Costs, Building & Improvements	45,386
Costs Capitalized Subsequent to Acquisition, Land	(1,300)
Costs Capitalized Subsequent to Acquisition, Building & Improvements	5,974
Gross Amount at End of Year, Land	8,828
Gross Amount at End of Year, Building & Improvements	51,360
Gross Amount at End of Year, Total	60,188
Accumulated Depreciation & Impairment	$ (9,857)
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	$ 17,946
Initial Costs, Land	4,153
Initial Costs, Building & Improvements	9,670
Costs Capitalized Subsequent to Acquisition, Land	1,773
Costs Capitalized Subsequent to Acquisition, Building & Improvements	25,969
Gross Amount at End of Year, Land	5,926
Gross Amount at End of Year, Building & Improvements	35,639
Gross Amount at End of Year, Total	41,565
Accumulated Depreciation & Impairment	$ (10,496)
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	$ 33,259
Initial Costs, Land	785
Initial Costs, Building & Improvements	16,829
Costs Capitalized Subsequent to Acquisition, Land	1,153
Costs Capitalized Subsequent to Acquisition, Building & Improvements	14,671
Gross Amount at End of Year, Land	1,938
Gross Amount at End of Year, Building & Improvements	31,500
Gross Amount at End of Year, Total	33,438
Accumulated Depreciation & Impairment	$ (14,081)
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	$ 48,990
Initial Costs, Land	191
Initial Costs, Building & Improvements	70,369
Costs Capitalized Subsequent to Acquisition, Land	79
Costs Capitalized Subsequent to Acquisition, Building & Improvements	1,685
Gross Amount at End of Year, Land	270
Gross Amount at End of Year, Building & Improvements	72,054
Gross Amount at End of Year, Total	72,324
Accumulated Depreciation & Impairment	$ (5,262)
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	$ 11,037
Initial Costs, Land	782
Initial Costs, Building & Improvements	6,891
Costs Capitalized Subsequent to Acquisition, Land	407
Costs Capitalized Subsequent to Acquisition, Building & Improvements	14,871
Gross Amount at End of Year, Land	1,189
Gross Amount at End of Year, Building & Improvements	21,762
Gross Amount at End of Year, Total	22,951
Accumulated Depreciation & Impairment	$ (7,659)
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	$ 14,698
Initial Costs, Land	7,374
Initial Costs, Building & Improvements	22,185
Costs Capitalized Subsequent to Acquisition, Land	107
Costs Capitalized Subsequent to Acquisition, Building & Improvements	7,042
Gross Amount at End of Year, Land	7,481
Gross Amount at End of Year, Building & Improvements	29,227
Gross Amount at End of Year, Total	36,708
Accumulated Depreciation & Impairment	$ (5,977)
Date of Construction	1963
Date Acquired	2013
The Whitehall - Houston, Texas [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	3 years
The Whitehall - Houston, Texas [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	39 years
Hyde Resort & Residences [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Description	Hyde Resort & Residences
Initial Costs, Land	$ 226
Initial Costs, Building & Improvements	4,290
Gross Amount at End of Year, Land	226
Gross Amount at End of Year, Building & Improvements	4,290
Gross Amount at End of Year, Total	4,516
Accumulated Depreciation & Impairment	$ (431)
Date of Construction	2016
Date Acquired	2017
Hyde Resort & Residences [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	3 years
Hyde Resort & Residences [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on Which Depreciation is Computed	39 years
Hyde Beach House Resort & Residences [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Description	Hyde Beach House Resort & Residences
Initial Costs, Building & Improvements	$ 5,710
Gross Amount at End of Year, Building & Improvements	5,710
Gross Amount at End of Year, Total	5,710
Accumulated Depreciation & Impairment	$ (185)
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, 2020USD ($)
Real Estate And Accumulated Depreciation Disclosure [Abstract]
Aggregate cost of our real estate assets for federal income tax	$ 493.7

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, 2020	Dec. 31, 2019
Reconciliation of Real Estate
Beginning Balance	$ 504,300,000	$ 489,067,000
Acquisitions		5,710,000
Improvements	4,066,000	13,097,000
Disposal of Assets	(213,000)	(3,574,000)
Ending Balance	508,153,000	504,300,000
Reconciliation of Accumulated Depreciation
Beginning Balance	97,537,000	85,655,000
Current Expense	14,355,000	14,770,000
Impairment	0	0
Disposal of Assets	(134,000)	(2,888,000)
Ending Balance	$ 111,758,000	$ 97,537,000