Lightstone Value Plus REIT II (LVPR) 10-K 31 Mar 15 2014 FY Annual report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2014	Mar. 23, 2015	Jun. 30, 2014
Document and Entity Information [Abstract]
Document Type	10-K
Amendment Flag	FALSE
Document Period End Date	31-Dec-14
Entity Registrant Name	LIGHTSTONE VALUE PLUS REAL ESTATE INVESTMENT TRUST II INC
Entity Central Index Key	1436975
Current Fiscal Year End Date	-19
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	FY
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		18.7
Entity Current Reporting Status	Yes
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Public Float			$110.80

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Investment property:
Land and improvements	$22,726	$8,942
Building and improvements	80,392	35,567
Furniture and fixtures	17,223	8,706
Construction in progress	449	3,542
Gross investment property	120,790	56,757
Less accumulated depreciation	-6,111	-2,670
Net investment property	114,679	54,087
Investments in unconsolidated affiliated entity	3,504	3,834
Cash and cash equivalents	67,502	26,520
Marketable securities, available for sale	18,180	8,134
Restricted escrows and deposits	988	2,294
Prepaid expenses and other assets	2,840	957
Total Assets	207,693	95,826
Liabilities and Stockholders' Equity
Accounts payable and other accrued expenses	2,868	1,356
Margin loan	5,815	1,906
Mortgages payable	23,761	24,260
Due to sponsor	199	107
Distributions payable	3,028	1,172
Total liabilities	35,671	28,801
Commitments and contingencies (Note 12)
Company's stockholders' equity:
Preferred shares, $0.01 par value, 10,000 shares authorized, none issued and outstanding
Common stock, $0.01 par value; 100,000 shares authorized, 18,493 and 7,643 shares issued and outstanding in 2014 and 2013, respectively	185	76
Additional paid-in-capital	158,330	60,755
Subscription receivable	-80	-25
Accumulated other comprehensive income	252	399
Accumulated deficit	-5,503	-1,781
Total Company stockholders' equity	153,184	59,424
Noncontrolling interests	18,838	7,601
Total Stockholders' Equity	172,022	67,025
Total Liabilities and Stockholders' Equity	$207,693	$95,826

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, except Per Share data, unless otherwise specified
CONSOLIDATED BALANCE SHEETS [Abstract]
Preferred shares, par value	$0.01	$0.01
Preferred stock, shares authorized	10,000	10,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock, par value	$0.01	$0.01
Common stock, shares authorized	100,000	100,000
Common stock, shares issued	18,493	7,643
Common stock, shares outstanding	18,493	7,643

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	12 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2014		Dec. 31, 2013		Dec. 31, 2012
CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]
Rental revenue	$23,566		$13,058		$5,942
Expenses:
Property operating expenses	14,692		8,464		3,329
Real estate taxes	857		648		216
General and administrative costs	2,903		1,583		1,953
Depreciation and amortization	3,446		1,822		558
Total operating expenses	21,898		12,517		6,056
Operating income/(loss)	1,668		541		-114
Interest and dividend income	1,443		856		1,665
Gain on disposition of unconsolidated affiliated entity					741
Bargain purchase gain	2,790		1,263		7,857
Interest expense	-1,325		-1,035		-535
Other income/(expense), net	75		-241		-9
(Loss)/income from investments in unconsolidated affiliated entities	-111		-14		159
Net income	4,540	[1]	1,370	[2]	9,764
Less: net income attributable to noncontrolling interests	-68		-40		-555
Net income applicable to Company's common shares	$4,472		$1,330		$9,209
Net income per Company's common share, basic and diluted	$0.35		$0.21		$1.84
Weighted average number of common shares outstanding, basic and diluted	12,608		6,235		5,016
[1]	Net income for the year ended December 31, 2014 includes a bargain purchase gain of $2.8 million in the 4th quarter of 2014 in connection with the purchase of the Philadelphia Airport Hotel Portfolio. (See Note 3)
[2]	Net income for the year ended December 31, 2013 includes a bargain purchase gain of $1.2 million in the 2nd quarter of 2013 in connection with the purchase of the Arkansas Hotel Portfolio. (See Note 3)

CONSOLIDATED_STATEMENTS_OF_COM

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014		Dec. 31, 2013		Dec. 31, 2012
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]
Net income	$4,540	[1]	$1,370	[2]	$9,764
Other comprehensive (loss)/income:
Unrealized (loss)/gain on available for sale securities	-147		165		2,443
Reclassification adjustment for gains included in net income			5
Other comprehensive (loss)/income	-147		170		2,443
Comprehensive income	4,393		1,540		12,207
Less: Comprehensive income attributable to noncontrolling interests	-68		-40		-555
Comprehensive income attributable to the Company's common shares	$4,325		$1,500		$11,652
[1]	Net income for the year ended December 31, 2014 includes a bargain purchase gain of $2.8 million in the 4th quarter of 2014 in connection with the purchase of the Philadelphia Airport Hotel Portfolio. (See Note 3)
[2]	Net income for the year ended December 31, 2013 includes a bargain purchase gain of $1.2 million in the 2nd quarter of 2013 in connection with the purchase of the Arkansas Hotel Portfolio. (See Note 3)

CONSOLIDATED_STATEMENTS_OF_STO

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (USD $)	Total		Common Shares [Member]	Additional Paid-In Capital [Member]	Subscription Receivable [Member]	Accumulated Other Comprehensive Income/(Loss) [Member]	Accumulated Surplus/(Deficit) [Member]	Total Noncontrolling Interests [Member]
In Thousands
BALANCE at Dec. 31, 2011	$33,282		$45	$35,822	($104)	($2,214)	($5,002)	$4,735
BALANCE, shares at Dec. 31, 2011			4,503
Net income	9,764						9,209	555
Other comprehensive income/(loss)	2,443					2,443
Distributions declared	-3,268						-3,268
Distributions paid	-306							-306
Units issued to noncontrolling interests in exchange for investment in unconsolidated affiliated real estate entity	911							911
Contributions from noncontrolling interests	103							103
Proceeds from offering	7,152		7	7,041	104
Proceeds from offering, shares			706
Selling commissions and dealer manager fees	-715			-715
Other offering costs	-1,495			-1,495
Redemption and cancellation of shares	-458		-1	-457
Redemption and cancellation of shares, shares			-51
Shares issued from distribution reinvestment program	1,458		2	1,456
Shares issued from distribution reinvestment program, shares			153
Notes receivable issued to noncontrolling interests
BALANCE at Dec. 31, 2012	48,871		53	41,652		229	939	5,998
BALANCE, shares at Dec. 31, 2012			5,311
Net income	1,370	[1]					1,330	40
Other comprehensive income/(loss)	170					170
Distributions declared	-4,050						-4,050
Distributions paid	-175							-175
Contributions from noncontrolling interests	2,060							2,060
Proceeds from offering	21,966		22	21,969	-25
Proceeds from offering, shares			2,218
Selling commissions and dealer manager fees	-2,023			-2,023
Other offering costs	-1,937			-1,937
Redemption and cancellation of shares	-696		-1	-695
Redemption and cancellation of shares, shares			-75
Shares issued from distribution reinvestment program	1,791		2	1,789
Shares issued from distribution reinvestment program, shares			189
Notes receivable issued to noncontrolling interests	-322							-322
BALANCE at Dec. 31, 2013	67,025		76	60,755	-25	399	-1,781	7,601
BALANCE, shares at Dec. 31, 2013			7,643
Net income	4,540	[2]					4,472	68
Other comprehensive income/(loss)	-147					-147
Distributions declared	-8,194						-8,194
Distributions paid	-131							-131
Contributions from noncontrolling interests	11,300							11,300
Proceeds from offering	104,592		107	104,540	-55
Proceeds from offering, shares			10,579
Selling commissions and dealer manager fees	-8,934			-8,934
Other offering costs	-611			-611
Redemption and cancellation of shares	-676		-1	-675
Redemption and cancellation of shares, shares			-72
Shares issued from distribution reinvestment program	3,258		3	3,255
Shares issued from distribution reinvestment program, shares			343
Notes receivable issued to noncontrolling interests
BALANCE at Dec. 31, 2014	$172,022		$185	$158,330	($80)	$252	($5,503)	$18,838
BALANCE, shares at Dec. 31, 2014			18,493
[1]	Net income for the year ended December 31, 2013 includes a bargain purchase gain of $1.2 million in the 2nd quarter of 2013 in connection with the purchase of the Arkansas Hotel Portfolio. (See Note 3)
[2]	Net income for the year ended December 31, 2014 includes a bargain purchase gain of $2.8 million in the 4th quarter of 2014 in connection with the purchase of the Philadelphia Airport Hotel Portfolio. (See Note 3)

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014		Dec. 31, 2013		Dec. 31, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$4,540	[1]	$1,370	[2]	$9,764
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	3,446		1,822		558
Amortization of deferred financing costs	72		83		65
Gain on disposition of investment in unconsolidated affiliated entity					-741
Bargain purchase gain	-2,790		-1,263		-7,857
Loss/(income) from investments in unconsolidated affiliated entities	111		14		-159
Other non-cash adjustments	-112		145
Changes in assets and liabilities:
Decrease in restricted escrows			157		136
(Increase)/decrease in prepaid expenses and other assets	-1,910		24		-429
Increase in accounts payable and other accrued expenses	902		400		330
Increase/(decrease) in due to sponsor	92		-6		39
Net cash provided by operating activities	4,351		2,746		1,706
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of investment property, net	-60,615		-18,158		-9,808
Purchase of marketable securities, net of margin loan	-19,774
Proceeds from sale of marektable securities	9,692		190
Purchase of restricted escrow					-835
Proceeds from disposition of investment in unconsolidated affiliated entity					560
Collections on note receivable from affiliate			2,340		60
Release/(funding) of restricted escrows	1,306		348		-1,807
Distributions from unconsolidated affiliated entities	219		2,103		289
Net cash used in investing activities	-69,172		-13,177		-11,541
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from mortgage financings			24,420		11,273
Payment on mortgages payable	-499		-11,317		-116
Payment of loan fees and expenses			-359		-242
Proceeds/(payment) on margin loans, net	3,909		-810		-624
Proceeds from issuance of common stock	104,592		21,966		7,152
Payment of commissions and offering costs	-9,612		-4,021		-2,242
Redemption and cancellation of common shares	-676		-696		-458
Notes receivable from affiliates			-322
Contribution from noncontrolling interests	11,300		2,060		103
Distributions to noncontrolling interests	-131		-175		-306
Distributions to common stockholders	-3,080		-1,947		-1,667
Net cash provided by financing activities	105,803		28,799		12,873
Net change in cash and cash equivalents	40,982		18,368		3,038
Cash and cash equivalents, beginning of year	26,520		8,152		5,114
Cash and cash equivalents, end of year	$67,502		$26,520		$8,152
[1]	Net income for the year ended December 31, 2014 includes a bargain purchase gain of $2.8 million in the 4th quarter of 2014 in connection with the purchase of the Philadelphia Airport Hotel Portfolio. (See Note 3)
[2]	Net income for the year ended December 31, 2013 includes a bargain purchase gain of $1.2 million in the 2nd quarter of 2013 in connection with the purchase of the Arkansas Hotel Portfolio. (See Note 3)

Organization

Organization	12 Months Ended
	Dec. 31, 2014
Organization [Abstract]
Organization	1. Organization
	Lightstone Value Plus Real Estate Investment Trust II, Inc. (the “Lightstone REIT II”) is a Maryland corporation formed on April 28, 2008, which has qualified as a real estate investment trust (“REIT”) for U.S. federal income tax purposes since its taxable year ending December 31, 2009. The Lightstone REIT II was formed primarily for the purpose of engaging in the business of investing in and owning commercial and residential real estate properties, as well as other real estate-related investments, located principally in North America.
	The Lightstone REIT II is structured as an umbrella partnership REIT, or UPREIT, and substantially all of its current and future business is and will be conducted through Lightstone Value Plus REIT II LP (the “Operating Partnership”), a Delaware limited partnership formed on April 30, 2008.
	The Lightstone REIT II and the Operating Partnership and its subsidiaries are collectively referred to as the ‘‘Company'' and the use of ‘‘we,'' ‘‘our,'' ‘‘us'' or similar pronouns refers to the Lightstone REIT II, its Operating Partnership or the Company as required by the context in which such pronoun is used.
	Offering and Structure
	Our sponsor David Lichtenstein (“Lichtenstein”), who does business as the Lightstone Group (the “Sponsor”) and majority owns the limited liability company of that name with a diversified portfolio of over 100 properties containing approximately 10,135 multifamily units, 1.3 million square feet of office space, 1.6 million square feet of industrial space, 24 hotels and 3.3 million square feet of retail space. The residential, office, industrial and retail properties are located in 20 states.  Based in New York, and supported by regional offices in New Jersey, Maryland and Illinois, our sponsor employs approximately 425 staff and professionals.
	Our advisor is Lightstone Value Plus REIT II LLC (the “Advisor”), which is wholly owned by our Sponsor. Our Advisor, together with our Board of Directors, is and will continue to be primarily responsible for making investment decisions and managing our day-to-day operations. Through his ownership and control of The Lightstone Group, Mr. Lichtenstein is the indirect owner of our Advisor and the indirect owner and manager of Lightstone SLP II LLC, the associate general partner of our Operating Partnership. Mr. Lichtenstein also acts as our Chairman and Chief Executive Officer. As a result, he controls both the general partner and associate general partner of our Operating Partnership and is the decision-maker of our Operating Partnership.
	We do not have and will not have any employees that are not also employed by our Sponsor or its affiliates. We depend substantially on our Advisor, which generally has responsibility for our day-to-day operations. Under the terms of the advisory agreement, the Advisor also undertakes to use its commercially reasonable best efforts to present to us investment opportunities consistent with our investment policies and objectives as adopted by our Board of Directors.
	We have two affiliated property managers (our “Property Managers”), which may manage the properties we acquire. We also use other unaffiliated third-party property managers, principally for the management of our hospitality properties. Our Property Managers are Paragon Retail Property Management LLC (“Paragon”) and Beacon Property Management LLC (“Beacon”), all of which are majority owned and controlled by our Sponsor. Paragon develops and redevelops all the factory outlet malls and certain retail properties controlled by our Sponsor. Beacon is a significant manager in the multi-family residential housing sector and oversees the management of approximately 10,000 multifamily units.
	On April 24, 2009, we commenced an initial public offering (the “Offering”) to sell a maximum of 51.0 million shares of common stock at a price of $10 per share (the “Primary Offering”) and 6.5 million shares of common stock available pursuant to our distribution reinvestment program (the “DRIP”). We also have 75,000 shares reserved for issuance under our stock option plan and 255,000 shares reserved for issuance under our employee and director incentive restricted share plan. Our Registration Statement on Form S-11 (the “Registration Statement”) was declared effective under the Securities Act of 1933 on February 17, 2009, and on April 24, 2009, we began offering our shares of common stock for sale to the public.
	The Offering, which terminated on August 15, 2012, raised aggregate gross proceeds of approximately $49.8 million from the sale of approximately 5.0 million shares of common stock. After allowing for the payment of approximately $5.2 million in selling commissions and dealer manager fees and $4.5 million in organization and other offering expenses, the Offering generated aggregate net proceeds of approximately $40.1 million. In addition, through August 15, 2012 (the termination date of the Offering), the Company had issued approximately 0.3 million shares of common stock under its DRIP, representing approximately $2.9 million of additional proceeds.
	The Company's registration statement on Form S-11 (the “Follow-On Offering”), pursuant to which it offered to sell up to 30,000,000 shares of its common stock for $10.00 per share, subject to certain volume discounts (exclusive of 2,500,000 shares available pursuant to its DRIP at an initial purchase price of $9.50 per share and 255,000 shares reserved for issuance under its Employee and Director Incentive Restricted Share Plan) was declared effective by SEC under the Securities Act of 1933 on September 27, 2012. The Follow-On Offering, which terminated on September 27, 2014, raised aggregate gross proceeds of approximately $127.5 million from the sale of approximately 12.9 million shares of common stock. After allowing for the payment of approximately $11.0 million in selling commissions and dealer manager fees and $4.0 million in organization and other offering expenses, the Follow-On Offering generated aggregate net proceeds of approximately $112.5 million.
	The Company's DRIP Registration Statement on Form S-3D was filed and became effective under the Securities Act of 1933 on September 26, 2014. As of December 31, 2014, 5.9 million shares remained available for issuance under the DRIP. On January 19, 2015, the Board of Directors suspended the Company's DRIP effective April 15, 2015. For so long as the DRIP remains suspended, all future distributions will be in the form of cash.
	Effective September 27, 2012, Orchard Securities, LLC (“Orchard Securities”) became the Dealer Manager of the Company's Follow-On Offering. Prior to September 27, 2012, ICON Securities Corp. (“ICON Securities”) served as the dealer manager for the Company's Offering.
	All further references to the Dealer Manager will be deemed to refer to either ICON Securities or Orchard Securities during the respective period of time that each was serving in such capacity.
	As of December 31, 2014, the Advisor owned 20,000 shares of common stock which were issued on May 20, 2008 for $200, or $10.00 per share. In addition, as of September 30, 2009, the Company had reached the minimum offering under its Offering by receiving subscriptions of its common shares, representing gross offering proceeds of approximately $6.5 million, and effective October 1, 2009 investors were admitted as stockholders and the Operating Partnership commenced operations. Through the termination of the Follow-On Offering (September 27, 2014), cumulative gross offering proceeds of $177.3 million were released to the Company. The Company invested the proceeds received from the Offering, the Follow-On Offering and the Advisor in the Operating Partnership, and as a result, held a 99% general partnership interest as of December 31, 2014 in the Operating Partnership's common units.
	The Company's shares of common stock are not currently listed on a national securities exchange. The Company may seek to list its shares of common stock for trading on a national securities exchange only if a majority of its independent directors believe listing would be in the best interest of its stockholders. The Company does not intend to list its shares at this time. The Company does not anticipate that there would be any market for its shares of common stock until they are listed for trading. In the event the Company does not obtain listing prior to the tenth anniversary of the completion or termination of its Offering, its charter requires that the Board of Directors must either (i) seek stockholder approval of an extension or amendment of this listing deadline; or (ii) seek stockholder approval to adopt a plan of liquidation of the corporation.
	Noncontrolling Interest – Partners of Operating Partnership
	The noncontrolling interests consist of (i) parties of the Company that hold units in the Operating Partnership and (ii) certain interests in LVP Metairie JV LLC, LVP East Rutherford LLC, LVP TPS Little Rock Holdings LLC and LVP TPS Fayetteville Holdings LLC which are not owned by the Company.
	On May 20, 2008, the Advisor contributed $2 to the Operating Partnership in exchange for 200 limited partner common units in the Operating Partnership. The limited partner has the right to convert Operating Partnership common units into cash or, at our option, an equal number of shares of our common stock, as allowed by the limited partnership agreement.
	Lightstone SLP II LLC, which is wholly owned by our Sponsor, committed to purchase subordinated profits interests in our Operating Partnership (“Subordinated Profits Interests”) at a cost of $100,000 per unit for each $1.0 million in subscriptions up to ten percent of the proceeds from the primary shares under the Offering and Follow-On Offering on a semi-annual basis beginning with the quarter ended June 30, 2010. Lightstone SLP II LLC may elect to purchase the Subordinated Profits Interests with either cash or an interest in real property of equivalent value. Any proceeds received from the cash sale of the Subordinated Profits Interests will be used to offset payments made by the Company from offering proceeds to pay the dealer manager fees, selling commissions and organization and other offering expenses.
	From our inception through December 31, 2014, our Sponsor contributed cash of approximately $12.9 million and equity interests totaling 48.6% in Brownmill, LLC (“Brownmill”), which were valued at $4.8 million, in exchange for 177.0 Subordinated Profits Interests with an aggregate value of $17.7 million. See “Sponsor's Contribution of Equity Interests in Brownmill” below for additional information. Our Sponsor may continue to elect to contribute interests in real property in lieu of cash in exchange for Subordinated Profits Interests in order to fulfill its semi-annual commitment.
	Operations - Operating Partnership Activity
	Our Operating Partnership commenced its operations on October 1, 2009. Since then we have and will continue to seek to acquire and operate commercial, residential, and hospitality properties, principally in North America through our Operating Partnership. Our commercial holdings will consist of retail (primarily multi-tenanted shopping centers), lodging, industrial and office properties. All such properties may be acquired and operated by us alone or jointly with another party. In addition, we may invest up to 20% of our net assets in collateralized debt obligations, commercial mortgage-backed securities (“CMBS”) and mortgage and mezzanine loans secured, directly or indirectly, by the same types of properties which it may acquire directly.
	Related Parties
	Our Advisor, Property Managers and Dealer Manager are each related parties. Each of these entities have or will receive compensation and fees for services related to the Offering and will continue to receive compensation and fees and services for the investment and management of our assets. These entities will receive fees during the Offering, acquisition, operational and liquidation stages. The compensation levels during the Offering, acquisition and operational stages are based on percentages of the Offering proceeds sold, the cost of acquired properties and the annual revenue earned from such properties, and other such fees outlined in each of the respective agreements. See Note 11 for additional information.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2014
Summary of Significant Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies
	Basis of Presentation
	The consolidated financial statements include the accounts of Lightstone REIT II and the Operating Partnership and its subsidiaries (over which Lightstone REIT exercises financial and operating control). As of December 31, 2014, the Company had a 99% general partnership interest in the Operating Partnership. All inter-company balances and transactions have been eliminated in consolidation.
	The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). GAAP requires the Company's management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities and the reported amounts of revenues and expenses during a reporting period. The most significant assumptions and estimates relate to the valuation of real estate and investments in other real estate entities, depreciable lives of long-lived assets and revenue recognition. Application of these assumptions requires the exercise of judgment as to future uncertainties and, as a result, actual results could differ from these estimates.
	Investments in other real estate entities where the Company has the ability to exercise significant influence, but does not exercise financial and operating control, and is not considered to be the primary beneficiary will be accounted for using the equity method. Investments in other real estate entities where the Company has virtually no influence will be accounted for using the cost method.
	Cash and Cash Equivalents
	The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. All cash equivalents are held in commercial paper and money market funds.
	Supplemental disclosure of cash flow information:	Year Ended December 31,
		2014		2013		2011
	Cash paid for interest	$	1,255	$	939	$	413
	Distributions declared	$	8,194	$	4,050	$	3,268
	Noncash commissions and other offering costs in accounts payable and other accrued expenses	$	126	$	193	$	254
	Subscription receivable	$	55	$	25	$	(104	)
	Value of shares issued from distribution reinvestment program	$	3,258	$	1,791	$	1,458
	Issuance of units in exchange for investment in unconsolidated affiliated entities	$	-	$	-	$	911
	Restricted escrow deposits and related liability initially established related to Note receivable received in connection	$	-	$	-	$	2,400
	with disposition of investment in unconsolidated affiliated entity
	Satisfaction of promissory note	$	-	$	-	$	7,029
	Marketable Securities
	Marketable securities consist of equity securities and corporate bonds that are designated as available-for-sale and are recorded at fair value. Unrealized holding gains or losses will be reported as a component of accumulated other comprehensive income (loss). Realized gains or losses resulting from the sale of these securities will be determined based on the specific identification of the securities sold. An impairment charge will be recognized when the decline in the fair value of a security below the amortized cost basis is determined to be other-than-temporary. The Company will consider various factors in determining whether to recognize an impairment charge, including the duration and severity of any decline in fair value below our amortized cost basis, any adverse changes in the financial condition of the issuers and our intent and ability to hold the investment for a period of time sufficient to allow for any anticipated recovery in market value. The Board has authorized the Company from time to time to invest the Company's available cash in marketable securities of real estate related companies. The Board of Directors has approved investments up to 30% of the Company's total assets to be made at the Company's discretion, subject to compliance with any REIT or other restrictions.
	Revenue Recognition
	The Company invests in real estate assets that generate rental income. Minimum rents will be recognized on a straight-line accrual basis, over the terms of the related leases. The capitalized above-market lease values and the capitalized below-market lease values will be amortized as an adjustment to rental income over the initial lease term. Percentage rents, which are based on commercial tenants' sales, will be recognized once the sales reported by such tenants exceed any applicable breakpoints as specified in the tenants' leases. Recoveries from commercial tenants for real estate taxes, insurance and other operating expenses, and from residential tenants for utility costs, will be recognized as revenues in the period that the applicable costs are incurred. Revenues from the operations of hotels is recognized when the services are provided.
	Accounts Receivable
	The Company makes estimates of the uncollectability of its accounts receivable related to base rents, expense reimbursements and other revenues. The Company analyzes accounts receivable and historical bad debt levels, customer credit worthiness and current economic trends when evaluating the adequacy of the allowance for doubtful accounts. In addition, tenants in bankruptcy are analyzed and estimates are made in connection with the expected recovery of pre-petition and post-petition claims. The Company's reported net income or loss is directly affected by management's estimate of the collectability of accounts receivable.
	Investment in Real Estate
	Accounting for Acquisitions
	When the Company makes an investment in real estate, the fair value of the real estate acquired is allocated to the acquired tangible assets, consisting of land, building and tenant improvements, and identified intangible assets and liabilities, consisting of the value of above-market and below-market leases for acquired in-place leases and the value of tenant relationships, based in each case on their fair values. Purchase accounting is applied to assets and liabilities related to real estate entities acquired based upon the percentage of interest acquired. Fees incurred related to acquisitions are expensed as incurred and recorded in general and administrative costs in the consolidated statements of operation. Transaction costs incurred related to the Company's investments in unconsolidated affiliated entities, accounted for under the equity method of accounting, are capitalized as part of the cost of the investment.
	Upon the acquisition of real estate operating properties, the Company estimates the fair value of acquired tangible assets and identified intangible assets and liabilities and certain liabilities such as assumed debt and contingent liabilities, at the date of acquisition, based on evaluation of information and estimates available at that date. Based on these estimates, the Company allocates the initial purchase price to the applicable assets, liabilities and noncontrolling interests, if any. As final information regarding fair value of the assets acquired, liabilities assumed and noncontrolling interests is received and estimates are refined, appropriate adjustments are be made to the purchase price allocation. The allocations are finalized as soon as all the information necessary is available and in no case later than within twelve months from the acquisition date.
	In determining the fair value of the identified intangible assets and liabilities of an acquired property, above-market and below-market in-place lease values are recorded based on the present value (using an interest rate which reflects the risks associated with the leases acquired) of the difference between (i) the contractual amounts to be paid pursuant to the in-place leases and (ii) management's estimate of fair market lease rates for the corresponding in-place leases, measured over a period equal to the remaining non-cancelable term of the lease. The capitalized above-market lease values and the capitalized below-market lease values are amortized as an adjustment to rental income over the initial non-cancelable lease term and any fixed-rate renewal periods, which are reasonably assured, in the respective leases.
	The aggregate value of in-place leases is determined by evaluating various factors, including an estimate of carrying costs during the expected lease-up periods, current market conditions and similar leases. In estimating carrying costs, management includes real estate taxes, insurance and other operating expenses, and estimates of lost rental revenue during the expected lease-up periods based on current market demand. Management also estimates costs to execute similar leases including leasing commissions, legal and other related costs. Optional renewal periods are not considered.
	The aggregate value of other acquired intangible assets includes tenant relationships. Factors considered by management in assigning a value to these relationships include: assumptions of probability of lease renewals, investment in tenant improvements, leasing commissions and an approximate time lapse in rental income while a new tenant is located. The value assigned to this intangible asset is amortized over the remaining lease terms.
	Carrying Value of Assets
	The amounts capitalized as a result of periodic improvements and additions to real estate property, when applicable, and the periods over which the assets are depreciated or amortized, are determined based on the application of accounting standards that may require estimates as to fair value and the allocation of various costs to the individual assets. Differences in the amount attributed to the assets can be significant based upon the assumptions made in calculating these estimates.
	Impairment Evaluation
	Management evaluates the recoverability of its investments in real estate assets at the lowest identifiable level, the individual property level. Long-lived assets are tested for recoverability whenever events or changes in circumstances indicate that their carrying amount may not be recoverable. An impairment loss is recognized only if the carrying amount of a long-lived asset is not recoverable and exceeds its fair value.
	The Company evaluates the long-lived assets for potential impairment on a quarterly basis and records an impairment charge when there is an indicator of impairment and the undiscounted projected cash flows are less than the carrying amount for a particular property. The estimated cash flows used for the impairment analysis and the determination of estimated fair value are based on the Company's plans for the respective assets and the Company's views of market and economic conditions. The estimates consider matters such as current and historical rental rates, occupancies for the respective properties and comparable properties, and recent sales data for comparable properties. Changes in estimated future cash flows due to changes in the Company's plans or views of market and economic conditions could result in recognition of impairment losses, which, under the applicable accounting guidance, could be substantial. As of December 31, 2014 and 2013, the Company did not recognize any impairment charges.
	Depreciation and Amortization
	Depreciation expense is computed based on the straight-line method over the estimated useful life of the applicable real estate asset. We generally use estimated useful lives of up to thirty-nine years for buildings and improvements and five to ten years for furniture, fixtures and equipment. Expenditures for tenant improvements and construction allowances paid to commercial tenants are capitalized and amortized over the initial term of each lease. Expenditures for ordinary maintenance and repairs are charged to expense as incurred.
	Deferred Costs
	The Company capitalizes initial direct costs associated with financing and leasing activities. The costs are capitalized upon the execution of the loan or lease and amortized over the initial term of the corresponding loan or lease. Amortization of deferred loan costs begins in the period during which the loan is originated using the effective interest method over the term of the loan. Deferred leasing costs are not amortized to expense until the earlier of the store opening date or the date the tenant's lease obligation begins.
	Investments in Unconsolidated Affiliated Entities
	The Company evaluates its investments in other entities for consolidation.  The percentage interest in the joint venture, evaluation of control and whether a variable interest entity (“VIE”) exists are all considered in determining if the investment qualifies for consolidation.
	The Company accounts for its investments in unconsolidated affiliated entities using the equity or cost method of accounting, as appropriate. Under the equity method, the investment is recorded initially at cost, and subsequently adjusted for equity in net income/(loss) and cash contributions and distributions. The net income/(loss) of each investor is allocated in accordance with the provisions of the applicable operating agreements of the entities.  The allocation provisions in these agreements may differ from the ownership interest held by each investor.  Differences between the carrying amount of the Company's investment in the respective joint venture and the Company's share of the underlying equity of such unconsolidated affiliated entities are amortized over the respective lives of the underlying assets as applicable. These items are reported as a single line item in the consolidated statements of operations as income or loss from investments in unconsolidated affiliated entities. Under the cost method of accounting, the investment is recorded initially at cost, and subsequently adjusted for cash contributions and distributions resulting from any capital events. Dividends earned from the underlying entities are recorded as interest income in the consolidated statements of operations.
	On a quarterly basis, the Company assesses whether the value of the investments in unconsolidated affiliated entities has been impaired.  An investment is impaired only if management's estimate of the fair value of the investment is less than the carrying value of the investment, and such decline in value is deemed to be other than temporary.  To the extent impairment has occurred, the loss shall be measured as the excess of the carrying amount of the investment over the fair value of the investment.  Management's estimate of value for each investment is based on a number of assumptions that are subject to economic and market uncertainties.  As these factors are difficult to predict and are subject to future events that may alter our assumptions, the values estimated by management in the impairment analysis may not be realized. Any decline that is not considered temporary will result in the recording of an impairment charge. Management believes no impairment of its investments in unconsolidated affiliated entities existed as of December 31, 2014 and 2013.
	Income Taxes
	We elected to be taxed as a REIT in conjunction with the filing of our 2009 U.S. federal income tax return. If we remain qualified as a REIT, we generally will not be subject to U.S. federal income tax on our net taxable income that we distribute currently to our stockholders. To maintain our REIT qualification under the Internal Revenue Code of 1986, as amended, or the Code, we must meet a number of organizational and operational requirements, including a requirement that we annually distribute to our stockholders at least 90% of our REIT taxable income (which does not equal net income, as calculated in accordance with GAAP), determined without regard to the deduction for dividends paid and excluding any net capital gain. If we fail to remain qualified for taxation as a REIT in any subsequent year and do not qualify for certain statutory relief provisions, our income for that year will be taxed at regular corporate rates, and we may be precluded from qualifying for treatment as a REIT for the four-year period following our failure to qualify as a REIT. Such an event could materially adversely affect our net income and net cash available for distribution to our stockholders.
	The Company engages in certain activities through taxable REIT subsidiaries ("TRSs"). When the Company purchases a hotel it establishes a TRS and enters into an operating lease agreement for the hotel. As such, the Company may be subject to U.S. federal and state income taxes and franchise taxes from these activities.
	As of December 31, 2014, the Company had no material uncertain income tax. The tax years subsequent to and including 2010 remain open to examination by the major taxing jurisdictions to which we are subject.
	Additionally, even if we qualify as a REIT for U.S. federal income tax purposes, we may still be subject to some U.S. federal, state and local taxes on our income and property and to U.S. federal income taxes and excise taxes on our undistributed income.
	Fair Value of Financial Instruments
	The carrying amounts of cash and cash equivalents, restricted escrows and deposits, prepaid expenses and other assets, accounts payable and other accrued expenses, margin loan, due to sponsor, and distributions payable approximated their fair values as of December 31, 2014 because of the short maturity of these instruments. The estimated fair value of our mortgages payable is as follows:
		As of December 31, 2014				As of December 31, 2013
	(Dollars in thousands)	Carrying Amount		Estimated Fair		Carrying Amount			Estimated Fair
				Value					Value
	Mortgages payable	$	23,761	$	23,548	$	24,260		$	23,898
	Selling Commission, Dealer Manager Fees and Organization and Other Offering Costs
	Selling commissions and dealer manager fees paid to the Dealer Manager, and other third-party offering expenses such as registration fees, due diligence fees, marketing costs, and professional fees are accounted for as a reduction against additional paid-in capital (“APIC”) as costs are incurred. Any organization costs are expensed as general and administrative costs. From the commencement of the Offering through the termination of the Follow-On Offering (September 27, 2014), the Company incurred approximately $16.3 million in selling commissions and dealer manager fees and $8.5 million of other offering costs and recorded approximately $24.8 million of these costs against APIC.
	Accounting for Derivative Financial Investments and Hedging Activities.
	The Company may enter into derivative financial instrument transactions in order to mitigate interest rate risk on a related financial instrument. The Company may designate these derivative financial instruments as hedges and apply hedge accounting. The Company will record all derivative instruments at fair value on the consolidated balance sheet.
	Derivative instruments designated in a hedge relationship to mitigate exposure to variability in expected future cash flows, or other types of forecasted transactions, will be considered cash flow hedges. The Company will formally document all relationships between hedging instruments and hedged items, as well as our risk- management objective and strategy for undertaking each hedge transaction. The Company will periodically review the effectiveness of each hedging transaction, which involves estimating future cash flows. Cash flow hedges will be accounted for by recording the fair value of the derivative instrument on the consolidated balance sheet as either an asset or liability, with a corresponding amount recorded in accumulated other comprehensive income (loss) within stockholders' equity. Amounts will be reclassified from other comprehensive income (loss) to the consolidated statement of operations in the period or periods the hedged forecasted transaction affects earnings. Derivative instruments designated in a hedge relationship to mitigate exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, will be considered fair value hedges. The effective portion of the derivatives gain or loss is initially reported as a component of other comprehensive income and subsequently reclassified into earnings when the transaction affects earnings. The ineffective portion of the gain or loss is reported in earnings immediately.
	Stock-Based Compensation
	The Company has an Employee and Director Incentive Restricted Share Plan. Awards, if any, will be granted at the fair market value on the date of the grant with fair value estimated using the Black-Scholes-Merton option valuation model, which incorporates assumptions surrounding the volatility, dividend yield, the risk-free interest rate, expected life, and the exercise price as compared to the underlying stock price on the grant date. As stock-based compensation expense recognized in the consolidated statements of operations will be based on awards ultimately expected to vest, the amount of expense will be reduced for forfeitures estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. Forfeitures will be estimated based on historical experience. The tax benefits associated with these share-based payments will be classified as financing activities in the consolidated statement of cash flows. The Company has not granted any stock-based incentive awards.
	Concentration of Risk
	The Company maintains its cash in bank deposit accounts, which, at times, may exceed U.S. federally insured limits. The Company has not experienced any losses in such accounts. The Company believes it is not exposed to any significant credit risk on cash and cash equivalents.
Basic and Diluted Net Earnings per Common Share
The Company had no potentially dilutive securities outstanding during the periods presented. Accordingly, earnings per share is calculated by dividing net income attributable to common shareholders by the weighted-average number of shares of common stock outstanding during the applicable period.
New Accounting Pronouncements
In April 2014, the Financial Accounting Standards Board ("FASB") issued an accounting standards update providing new guidance on the requirements for reporting a discontinued operation. The update changes the criteria for determining which disposals can be presented as discontinued operations and modifies related disclosure requirements. This update is effective for fiscal years beginning on or after December 15, 2014, and interim periods within those years. Early adoption is permitted, but only for disposals (or classifications as held for sale) that have not been reported in the financial statements previously issued or available for issuance.  The adoption of this standards update affects presentation only and, as such, will not have a material impact on the Company's consolidated financial statements.
In May 2014, the FASB issued an accounting standards update that completes the joint effort by the FASB and International Accounting Standards Board to improve financial reporting by creating common revenue recognition guidance for GAAP and International Financial Reporting Standards. The update applies to all companies that enter into contracts with customers to transfer goods or services and is effective for us for interim and annual reporting periods beginning after December 15, 2016. Early application is not permitted and companies have the choice to apply the update either retrospectively to each reporting period presented or by recognizing the cumulative effect of applying the update at the date of initial application (January 1, 2017) and not adjusting comparative information. The Company is currently evaluating the requirements and impact of this update on its consolidated financial statements.
Reclassifications
Certain prior period amounts may have been reclassified to conform to the current year presentation.

Acquisitions

Acquisitions	12 Months Ended
	Dec. 31, 2014
Acquisitions [Abstract]
Acquisitions	3. Acquisitions
	Holiday Inn - Opelika
	On April 1, 2014, the Company completed the acquisition of an 87-room select service hotel located in Opelika, Alabama (the “Holiday Inn — Opelika”), from an unrelated third party. The Holiday Inn — Opelika operates as a “Holiday Inn Express Hotel & Suites” pursuant to a 15-year franchise agreement with the International Hotel Group.
	The aggregate purchase price for the Holiday Inn — Opelika was approximately $6.9 million. The acquisition was funded with cash. Additionally, in connection with the acquisition, our advisor received an acquisition fee equal to 0.95% of the contractual purchase price of $6.9 million, or approximately $66.
	The acquisition of the Holiday Inn — Opelika was accounted for under the purchase method of accounting with the Company treated as the acquiring entity. Accordingly, the consideration paid by the Company to complete the acquisition of the Holiday Inn — Opelika has been allocated to the assets acquired based upon their fair values as of the date of the acquisition. There was no contingent consideration related to this acquisition. Approximately $1.0 million was allocated to land and improvements, $5.3 million was allocated to building and improvements, and $0.6 million was allocated to furniture and fixtures and other assets.
	The aggregate capitalization rate for the Holiday Inn — Opelika as of the closing of the acquisition was approximately 9.8%. We calculate the capitalization rate for a real property by dividing net operating income of the property by the purchase price of the property, excluding costs. For purposes of this calculation, net operating income is determined using the projected or budgeted net operating income based upon then-current projections. Additionally, net operating income is all gross revenues from the property less all operating expenses, including property taxes and management fees but excluding depreciation.
	Aloft - Tucson
	On April 8, 2014, the Company completed the acquisition of a 154-room select service hotel located in Tucson, Arizona (the “Aloft — Tucson”), from an unrelated third party. The Aloft — Tucson operates as an “Aloft” pursuant to a 20-year franchise agreement with Sheraton LLC, or Starwood.
	The aggregate purchase price for the Aloft - Tucson was approximately $19.0 million. The acquisition was funded with cash. Additionally, in connection with the acquisition, our advisor received an acquisition fee equal to 0.95% of the contractual purchase price of $19.0 million, or approximately $181.
	The acquisition of the Aloft — Tucson was accounted for under the purchase method of accounting with the Company treated as the acquiring entity. Accordingly, the consideration paid by the Company to complete the acquisition of the Aloft — Tucson has been allocated to the assets acquired based upon their fair values as of the date of the acquisition. There was no contingent consideration related to this acquisition. Approximately $1.9 million was allocated to land and improvements, $14.7 million was allocated to building and improvements, and $2.4 million was allocated to furniture and fixtures and other assets.
	The aggregate capitalization rate for the Aloft — Tucson as of the closing of the acquisition was approximately 8.8%. We calculate the capitalization rate for a real property by dividing net operating income of the property by the purchase price of the property, excluding costs. For purposes of this calculation, net operating income is determined using the projected or budgeted net operating income based upon then-current projections. Additionally, net operating income is all gross revenues from the property less all operating expenses, including property taxes and management fees but excluding depreciation.
	Hampton Inn – Fort Myers Beach
	On October 2, 2014, the Company completed the acquisition of a 120-room select service hotel located in Fort Myers, Florida (the “Hampton Inn – Fort Myers Beach”) from an unrelated third party. The Hampton Inn – Fort Myers Beach operates as a “Hampton Inn & Suites” pursuant to a 15-year franchise agreement with Hampton Inn Franchise LLC.
	The aggregate purchase price for the Hampton Inn – Fort Myers Beach was approximately $9.4 million. The acquisition was funded with cash. Additionally, in connection with the acquisition, our Advisor received an acquisition fee equal to 0.95% of the contractual purchase price, approximately $0.1 million.
	The acquisition of the Hampton Inn – Fort Myers Beach was accounted for under the purchase method of accounting with the Company treated as the acquiring entity. Accordingly, the consideration paid by the Company to complete the acquisition of the Hampton Inn – Fort Myers Beach has been allocated to the assets acquired based upon their fair values as of the date of the acquisition. There was no contingent consideration related to this acquisition. Approximately $3.0 million was allocated to land and improvements, $5.1 million was allocated to building and improvements, and $1.3 million was allocated to furniture and fixtures and other assets.
	The aggregate capitalization rate for the Hampton Inn – Fort Myers Beach as of the closing of the acquisition was approximately 8.5%. We calculate the capitalization rate for a real property by dividing net operating income of the property by the purchase price of the property, excluding costs. For purposes of this calculation, net operating income is determined using the actual net operating income based the twelve month period ended June 2014. Additionally, net operating income is all gross revenues from the property less all operating expenses, including property taxes and management fees but excluding depreciation.
	Philadelphia Airport Hotel Portfolio
	On December 17, 2014, the Company completed the portfolio acquisition of the Aloft Philadelphia Airport (the “Aloft - Philadelphia”), a 136-room select service hotel, the Four Points by Sheraton Philadelphia Airport (the “Four Points by Sheraton - Philadelphia”), a 177-room select service hotel and a land parcel adjacent the Four Points by Sheraton Philadelphia (the “Land Parcel”) (the “Philadelphia Hotel Portfolio”) from an unrelated third party. The Aloft Philadelphia operates as an “Aloft” pursuant to a 20-year franchise agreement with Starwood and the Four Points by Sheraton Philadelphia operates as a “Four Points by Sheraton” pursuant to a 20-year franchise agreement with Starwood.
	The aggregate purchase price for the Philadelphia Hotel Portfolio was approximately $22.6 million (including contingent consideration of approximately $0.3 million). The acquisition was funded with cash. Additionally, in connection with the acquisition, our Advisor received an acquisition fee equal to 0.95% of the contractual purchase price, approximately $0.2 million. The fair value of the assets acquired of approximately $25.4 million exceeded the aggregate cost of $22.6 million, resulting in the recognition of a bargain purchase gain of approximately $2.8 million in the consolidated statements of operations during the fourth quarter of 2014. The Company believes it was able to acquire these properties for less than their aggregate fair value because the seller has implemented a strategy to significantly reduce its owned hotel portfolio and increase its focus on its management and franchise business.
	The acquisition of the Philadelphia Hotel Portfolio was accounted for under the purchase method of accounting with the Company treated as the acquiring entity. Accordingly, the consideration paid by the Company to complete the acquisition of the Philadelphia Hotel Portfolio has been allocated to the assets acquired based upon their fair values as of the date of the acquisition. Approximately $7.9 million was allocated to land and improvements, $15.5 million was allocated to building and improvements, and $2.0 million was allocated to furniture and fixtures and other assets.
	The capitalization rate for the Philadelphia Hotel Portfolio as of the closing of the acquisition was approximately 8.0%. We calculate the capitalization rate for a real property by dividing net operating income of the property by the purchase price of the property, excluding costs. For purposes of this calculation, net operating income is determined using the projected or budgeted net operating income based upon then-current projections. Additionally, net operating income is all gross revenues from the property less all operating expenses, including property taxes and management fees but excluding depreciation.
	Arkansas Hotel Portfolio
	On June 18, 2013, the Company, through LVP TPS Little Rock Holdings LLC and LVP TPS Fayetteville Holdings, LLC, both joint venture subsidiaries of our Operating Partnership, completed the portfolio acquisition of 95% ownership interests in two 92-room limited service hotels (the “Arkansas Hotel Portfolio”), which operate as TownePlace Suites by Marriott, located in Little Rock, which we refer to as the TownePlace Suites – Little Rock, and Johnson/Springdale, Arkansas, which we refer to as the TownePlace Suites - Fayetteville, from certain limited liability companies controlled by the same seller, an unrelated third party. The remaining 5% ownership interests were acquired by TPSLR, LLC for the TownePlace Suites - Little Rock and TPSFN, LLC for the TownePlace Suites - Fayetteville, respectively, both unrelated third parties.
	The Arkansas Hotel Portfolio was acquired as part of a transaction in which the third party sellers sold a portfolio of four hotel properties, two of which comprise the Arkansas Hotel Portfolio, and two hotel properties acquired by Lightstone Value Plus Real Estate Investment Trust, Inc. (“Lightstone REIT I”), an affiliated company.  The aggregate purchase price paid for the four properties was $29.1 million, of which $10.7 million related to the Arkansas Hotel Portfolio and such amount was determined based on an internal allocation of the purchase price which was approved by the separate boards of directors of the Company and Lightstone REIT I. Additionally, in connection with the acquisition, our advisor received an acquisition fee equal to 0.95% of the contractual purchase price of $10.7 million, or approximately $102. The fair value of the assets acquired of $11.9 million exceeded the aggregate cost of $10.7 million, resulting in the recognition of a bargain purchase gain of approximately $1.2 million in the consolidated statements of operations during the second quarter of 2013. The Company believes it was able to acquire this portfolio for less than its fair value because it was a distressed sale which was required by the mortgage lender.
	The acquisition was funded with $3.7 million in cash and a $7.0 million demand note, or the Demand Note, entered into between our Operating Partnership and Lightstone Value Plus Real Estate Investment Trust, Inc. (“Lightstone REIT I”). The Demand Note was due on demand and bore interest at a floating rate of LIBOR plus 4.95%. We paid $3.0 million of the Demand Note's balance in June 2013 and repaid the remaining $4.0 million on July 30, 2013.
	The Company entered into a separate management agreement with a management company controlled by the minority owner of each hotel for the management of the respective hotel. Additionally, the Companyh entered into a 20-year franchise agreement, or the Franchise Agreement, with Marriott, pursuant to which the TownePlace Suites - Fayetteville and the TownePlace Suites - Little Rock Hotel will both continue to operate as a “TownePlace Suites by Marriott,” which commenced on June 18, 2013.
	The acquisition of the Arkansas Hotel Portfolio was accounted for under the purchase method of accounting with the Company treated as the acquiring entity. Accordingly, the consideration paid by the Company to complete the acquisition of the Arkansas Hotel Portfolio has been allocated to the assets acquired based upon their estimated fair values as of the date of the acquisition. There was no contingent consideration related to this acquisition. Approximately $1.5 million was allocated to land and improvements, $8.5 million was allocated to building and improvements, and $1.9 million was allocated to furniture and fixtures and other assets.
	The aggregate capitalization rate for the Arkansas Hotel Portfolio as of the closing of the acquisition was approximately 10.6%. We calculate the capitalization rate for a real property by dividing net operating income of the property by the purchase price of the property, excluding costs. For purposes of this calculation, net operating income is determined using the projected or budgeted net operating income based upon then-current projections. Additionally, net operating income is all gross revenues from the property less all operating expenses, including property taxes and management fees but excluding depreciation.
	SpringHill Suites - Peabody
	On July 13, 2012, the Company entered into an Assignment and Assumption of Purchase and Sale Agreement (the “Assignment”) with Lightstone Acquisitions V LLC (the “Assignor”), an affiliate of the Company's Sponsor.  Under the terms of the Assignment, the Company was assigned the rights and assumed the obligations of the Assignor with respects to certain Purchase and Sale Agreement (the “Purchase Agreement”), dated March 12, 2012, made between the Assignor as the Purchaser and Springhill Peabody HH LLC as the Seller, as amended, whereby the Assignor contracted to purchase a six story, 164-suite, limited services hotel located in Peabody, Massachusetts which operates as a SpringHill Suites by Marriott (the “SpringHill Suites - Peabody”) which was constructed and commenced operations in July 2002.
	On July 13, 2012, the Company completed the acquisition of the SpringHill Suites - Peabody from the Seller, an unrelated third party.  In connection with the acquisition, the Company assumed the existing Management Agreement with Marriott and simultaneously gave the requisite 30-day notice for early termination, which required the payment of a termination fee (the “Termination Fee”) of approximately $1.2 million to Marriott. Contemporaneously, the Company entered into a 20-year franchise agreement (the “Franchise Agreement”) with Marriott, pursuant to which the SpringHill Suites - Peabody continued to operate as a SpringHill Suites by Marriott commencing on August 11, 2012. The Company entered into a new management agreement (the “SSH Peabody Management Agreement”) with an unrelated third party for the management of the SpringHill Suites - Peabody which commenced on August 11, 2012.
	The SSH Peabody Management Agreement has an initial term of one-year and automatically renews for additional one-year terms on the anniversary date provided 60-day advance written notice is not provided by either party. The SSH Peabody Management Agreement provides for (i) a basic management fee equal to 3% of total revenues, (ii) a centralized accounting services fee of $3 per month, subject annual increases based on the consumer price index, and (iii) an incentive management fee equal to 15% of the amount by which gross operating profit, as defined, exceeds a prescribed threshold, subject to a cap of 2.0% of total annual revenues.
	The aggregate cost for the SpringHill Suites - Peabody was approximately $10.1 million, including the Termination Fee and approximately $0.8 million for a furniture, fixtures and equipment reserve (the “FFE Reserve”) held in escrow by Marriott.  In connection with the acquisition, the Company's incurred closing and other transaction costs of approximately $0.2 million, including an acquisition fee equal to 0.95% of the contractual purchase price less the Termination Fee, or approximately $85, paid to the Company's advisor.  The acquisition was funded in part with cash and proceeds from a $5.3 million mortgage obtained by the Company from the Bank of the Ozarks. The FFE Reserve was subsequently released from escrow by Marriott in October 2012 as a result of the termination of the existing Management Agreement.
	The acquisition was accounted for under the purchase method of accounting with the Company treated as the acquiring entity. Accordingly, the consideration paid by the Company to complete the acquisition has been allocated to the assets acquired based upon their fair values as of the date of the acquisition. The fair value of the assets acquired of $13.6 million exceeded the aggregate cost of $10.1 million, resulting in the recognition of a bargain purchase gain of approximately $3.5 million in the consolidated statements of operations during the third quarter of 2012. The Company believes it was able to acquire this property for less than its fair value because it was a distressed sale as the mortgage lender had previously taken ownership via a quitclaim deed. There was no contingent consideration related to this acquisition. Approximately $2.8 million was allocated to land, $9.0 million was allocated to building and improvements and $1.0 million was allocated to furniture and fixtures. Additionally, the FFE Reserve was recorded at its cost of approximately $0.8 million.
	The capitalization rate for the SpringHill Suites - Peabody as of the closing of the acquisition was 10.5%. We calculate the capitalization rate for a real property by dividing net operating income of the property by the purchase price of the property, excluding costs. For purposes of this calculation, net operating income was determined using the projected or budgeted net operating income of the property based upon then-current projections. Additionally, net operating income is all gross revenues from the property less all operating expenses, including property taxes and management fees but excluding depreciation.
	Restructuring of Mortgage Loan Secured by a Limited Service Hotel Located in East Rutherford, New Jersey (the “Fairfield Inn – East Rutherford”) and Simultaneous Acquisition of the Hotel.
	On December 31, 2012, the Company, and LVP East Rutherford, LLC (“LVP East Rutherford”), a newly formed majority-owned subsidiary, entered into a Restructuring Agreement (the “Restructuring Agreement”) with a syndicate of unrelated third-party investors, including Moody National FFI Meadowlands Rollup LLC (collectively, the “Borrowers”) and Moody National FFI Meadowlands MT, LLC (together with the Borrowers, the “Borrower Parties”). The Borrowers were the owners of the Fairfield Inn – East Rutherford, which operates as a Fairfield Inn under a franchise agreement with Marriott International Inc. (“Marriott”) and is managed by an unrelated third party under a management agreement with an initial term that expires in August 2017.
	Previously, on June 29, 2010, the Company purchased a fixed-rate, nonrecourse mortgage note (the “Loan”) with an original principal balance of $18.7 million for $7.9 million from an unrelated third-party financial institution. The Loan, which was secured by the Fairfield Inn – East Rutherford, had been in default since February 2009 and the carrying value of the Company's investment in the Loan was approximately $7.0 million as of December 30, 2012. Additionally, during the year ended December 31, 2011, the Company applied $0.1 million of excess cash received to outstanding principal. During the years ended December 31, 2012 and 2011 the Company recognized approximately $0.8 million and $1.0 of interest income, respectively.
	Under the terms of the Restructuring Agreement, the Borrowers contributed the Fairfield Inn – East Rutherford to LVP East Rutherford and the Borrower Parties and the Company received 17.4% and 82.6%, respectively, of the outstanding common units in LVP East Rutherford. Additionally, the Company issued a promissory note (the “Promissory Note”) in the principal amount of $6.3 million to LVP East Rutherford which is secured by the Fairfield Inn – East Rutherford. The Promissory Note has an initial maturity date of January 6, 2021, bears interest at 9.00%, and requires monthly principal and interest payments pursuant to a 30-year amortization schedule through its stated maturity. LVP East Rutherford also has an option to further extend the maturity of the Promissory Note for two additional one-year periods. Upon consummation of the transactions provided for in the Restructuring Agreement, all existing obligations under the Loan were satisfied in full.
	On December 31, 2012, the transactions provided for in the Restructuring Agreement were consummated. Simultaneously, the Company purchased an additional 5.1% of the outstanding common units of LVP East Rutherford for $0.1 million from various Borrowers that chose not to participate in the Restructuring Agreement. As a result, the Company holds in the aggregate 87.7% of the outstanding common units of LVP East Rutherford.
	Under the terms of the operating agreement of LVP East Rutherford, the Company is the majority holder and manager of, and has the ability to make all major decisions regarding, LVP East Rutherford, unless they relate to certain agreements with affiliated parties or amendments to the operating agreement that may adversely affect a minority interest holder in a disproportionate manner to other members of the same class of stock. LVP East Rutherford has two authorized classes of stock consisting of preferred units, none of which have been issued at this time, and common units. Distributions will be first to the preferred units, if any, and then to the common units in proportion to their ownership interests.
	The Fairfield Inn – East Rutherford, which opened in 1997 and was renovated in 2007, has 141 rooms, including 39 king guestrooms, 89 double/double guestrooms, nine double rooms, and four suites. Located at 850 Paterson Plank Road in East Rutherford, NJ, the Fairfield Inn – East Rutherford is in immediate proximity to Teterboro Airport and Meadowlands Sports Complex, seven miles west of New York City and 15 miles from Newark International Airport.
	The Company has a relicensing franchise agreement (the “Franchise Agreement”) with Marriott for the Fairfield Inn – East Rutherford which runs through 2025.
	The aggregate cost for the Fairfield Inn – East Rutherford was approximately $7.4 million. The acquisition was accounted for under the purchase method of accounting with the Company treated as the acquiring entity. Accordingly, the consideration paid by the Company to complete the acquisition has been allocated to the assets acquired based upon their fair values as of the date of the acquisition. The fair value of the assets acquired of $11.7 million exceeded the aggregate cost of $7.4 million, resulting in the recognition of a bargain purchase gain of approximately $4.3 million in the consolidated statements of operations during the year ended December 31, 2012. The Company believes it was able to acquire this property for less than its fair value pursuant to a restructuring transaction as the Company had previously purchased the associated mortgage indebtedness, which was in default, from the lender. There was no contingent consideration related to this acquisition.
	Approximately $2.5 million was allocated to land, $8.4 million was allocated to building and improvements and $0.8 million was allocated to furniture and fixtures.
	The capitalization rate for the Fairfield Inn – East Rutherford as of the closing of the acquisition was 8.0%. We calculate the capitalization rate for a real property by dividing net operating income of the property by the purchase price of the property, excluding costs. For purposes of this calculation, net operating income was determined using the projected or budgeted net operating income of the property based upon then-current projections. Additionally, net operating income is all gross revenues from the property less all operating expenses, including property taxes and management fees but excluding depreciation.
	Financial Information
	The following table provides the total amount of rental revenue and net income included in the Company's consolidated statements of operations from the the SpringHill Suites – Peabody, the Fairfield Inn – East Rutherford, the Arkansas Hotel Portfolio, the Holiday Inn – Opelika, the Aloft – Tucson, the Hampton Inn — Ft. Myers and the Philadelphia Airport Hotel Portfolio since their respective dates of acquisition for the periods indicated:
			For the Years Ended December 31,
			2014		2013		2012
	Rental revenue		$	20,069	$	9,858	$	2,151
	Net income(1)(2)(3)		$	3,126	$	503	$	6,933
	Note:
		-1	Includes the $7.9 million bargain purchase gain recorded in the year ended December 31, 2012 in connection with the acquisitions of the SpringHill Suites - Peabody and the Fairfield Inn – East Rutherford.
		-2	Includes the approximately $1.3 million bargain purchase gain recorded in the year ended December 31, 2013 in connection with the acquisition of the Arkansas Hotel Portfolio.
		-3	Includes the approximately $2.8 million bargain purchase gain recorded in the year ended December 31, 2014 in connection with the acquisition of the Philadelpia Hotel Portfolio.
	The following table provides unaudited pro forma results of operations for the periods indicated, as if the the SpringHill Suites – Peabody, the Fairfield Inn – East Rutherford and the Arkansas Hotel Portfolio, the Holiday Inn – Opelika, the Aloft – Tucson, the Hampton Inn — Fort Myers Beach and the Philadelphia Airport Hotel Portfolio had been acquired at the beginning of the earliest period presented. Such pro forma results are not necessarily indicative of the results that actually would have occurred had these acquisitions been completed on the dates indicated, nor are they indicative of the future operating results of the combined company.
			For the Years Ended December 31,
			2014		2013		2012
	Pro forma rental revenue		$	38,203	$	32,141	$	30,706
	Pro forma net income/(loss) per Company's common share (4)(5)(6)		$	4,326	$	1,219	$	1,589
	Pro forma net income/(loss) per Company's common share, basic and diluted(4)(5)(6)		$	0.34	$	0.2	$	0.32
	Note:
		-4	Excludes $7.9 million bargain purchase gain recorded in the year ended December 31, 2012 in connection with the acquisitions of the SpringHill Suites - Peabody and the Fairfield Inn – East Rutherford.
	-5	Excludes the approximately $1.3 million bargain purchase gain recorded in the year ended December 31, 2013 in connection with the acquisition of the Arkansas Hotel Portfolio.
	-6	Excludes the approximately $2.8 million bargain purchase gain recorded in the year ended December 31, 2014 in connection with the acquisition of the Philadelpia Hotel Portfolio.

Investments_in_Unconsolidated_

Investments in Unconsolidated Affiliated Entities	12 Months Ended
	Dec. 31, 2014
Investments in Unconsolidated Affiliated Entities [Abstract]
Investments in Unconsolidated Affiliated Entities	4		Investments in Unconsolidated Affiliated Entity
	The entity listed below is partially owned by the Company. The Company accounts for this investment under the equity method of accounting as the Company exercises significant influence, but does not exercise financial and operating control, and is not considered to be the primary beneficiary of this entity. A summary of the Company's investment in the unconsolidated affiliated entity is as follows:
									As of
	Entity		Date of Ownership		Ownership %				31-Dec-14				31-Dec-13
	Brownmill LLC ("Brownmill")		Various			48.58	%		$	3,504			$	3,834
	Brownmill
	During 2010, 2011 and 2012, the Company entered into five separate contribution agreements with Lightstone Holdings LLC (‘‘LGH''), a wholly-owned subsidiary of the Company's Sponsor, pursuant to which LGH contributed to the Company an approximate aggregate 48.6% equity interest (34.4%, 5.6% and 8.6% in 2010, 2011 and 2012, respectively) in Brownmill in order to fulfill the Sponsor's semi-annual commitment to purchase Subordinated Profits Interests with cash or contributed property. In exchange, the Company issued an aggregate of 48 units (33, 6 and 9 in 2010, 2011 and 2012, respectively) of Subordinated Profits Interests, at $100,000 per unit (at an aggregate total value of $4.8 million, of which $3.3 million, $0.6 million and $0.9 million were in 2010, 2011 and 2012, respectively), to Lightstone SLP II LLC.
	The aggregate fair value of the Company's 48.6% interest in Brownmill, based on estimated fair values as of the effective dates of the applicable contributions, was approximately $15.5 million, of which $4.8 million was in the form of equity and $10.7 million was in the form of mortgage indebtedness.
	As a result of these contributions in exchange for Subordinated Profit Interests, as of December 31, 2014, the Company owns a 48.6% membership interest in Brownmill. The Company's interest in Brownmill is a non-managing interest. An affiliate of the Company's Sponsor is the majority owner and manager of Brownmill. Profit and cash distributions are allocated in accordance with each investor's ownership percentage. The Company recorded its investment in Brownmill in accordance with the equity method of accounting. Accordingly, its portion of Brownmill's total indebtedness is not included in the investment. In connection with the contributions of the ownership interests in Brownmill, the Company did not incur any transactions fees. During the years ended December 31, 2014, 2013 and 2012, Brownmill made distributions of $450, $150 and $300, respectively, to its members, of which the Company's share was $219, $73 and $135, respectively.
	Brownmill owns two retail properties known as Browntown Shopping Center, located in Old Bridge, New Jersey, and Millburn Mall, located in Vauxhaull, New Jersey, which collectively, are referred to as the “Brownmill Properties.”
	Brownmill Condensed Financial Information
	The Company's carrying value of its interest in Brownmill differs from its share of member's equity reported in the condensed balance sheet of Brownmill due to the Company's basis of its investment in excess of the historical net book value of Brownmill. The Company's additional basis allocated to depreciable assets is being recognized on a straight-line basis over the lives of the appropriate assets.
	The following table represents the unaudited condensed income statement for Brownmill for the period indicated:
			For the Year				For the Year				For the Year
			Ended December				Ended December				Ended December
			31, 2014				31, 2013				31, 2012
	Revenue		$	3,600			$	3,551			$	3,682
	Property operating expenses			1,458				1,377				1,361
	Depreciation and amortization			842				840				862
	Operating income			1,300				1,334				1,459
	Interest expense and other, net			(1,094	)			(1,151	)			(1,179	)
	Net income		$	206			$	183			$	280
	Company's share of net income		$	100			$	89			$	122
	Additional depreciation and amortization expense (1)			(211	)			(259	)			(283	)
	Company's loss from investment		$	(111	)		$	(170	)		$	(161	)
		1	Additional depreciation and amortization expense relates to the amortization of the difference between the cost of the interest in Brownmill and the amount of the underlying equity in net assets of Brownmill.
	The following table represents the unaudited condensed balance sheet for Brownmill:
			As of				As of
			December 31, 2014				December 31, 2013
	Real estate, at cost (net)		$	15,493			$	16,039
	Cash and restricted cash			664				1,530
	Other assets			2,096				1,363
	Total assets		$	18,253			$	18,932
	Mortgage payable		$	20,217			$	20,700
	Other liabilities			636				588
	Members' deficiency			(2,600	)			(2,356	)
	Total liabilities and members' deficiency		$	18,253			$	18,932
	Rego Park Joint Venture
	During 2013, LVP Rego Park, LLC (the “Rego Park Joint Venture”), a joint venture in which the Company and Lightstone Value Plus Real Estate Investment Trust, Inc. (“Lightstone I”) a real estate investment trust also sponsored by the Company's sponsor, The Lightstone Group, had 10.0% and 90.0% ownership interests, respectively, made final distributions to its members and, as a result, the Company no longer has any investment in the Rego Park Joint Venture. During the years ended December 31, 2013 and 2012, the Rego Park Joint Venture had net income of approximately $1,722 and $3,198, respectively, of which the Company's share was approximately $156 and $320, respectively.

Marketable_Securities_and_Fair

Marketable Securities and Fair Value Measurements

12 Months Ended

Dec. 31, 2014

Marketable Securities and Fair Value Measurements [Abstract]

Marketable Securities and Fair Value Measurements

5

Marketable Securities and Fair Value Measurements

Marketable Securities:

The following is a summary of the Company's available for sale securities as of the dates indicated:

As of December 31, 2014

Adjusted Cost

Gross Unrealized Gains

Gross Unrealized

Fair Value

Losses

Equity Securities

$

17,928

$

408

$

(156

)

$

18,180

As of December 31, 2013

Adjusted Cost

Gross Unrealized Gains

Gross Unrealized

Fair Value

Losses

Equity Securities

$

7,735

$

399

$

$

8,134

The Company has access to a margin loan from a financial institution that holds custody of certain of the Company's marketable securities. The margin loan is collateralized by the marketable securities in the Company's account. The amounts available to the Company under the margin loan are at the discretion of the financial institution and not limited to the amount of collateral in its account. The margin loan bears interest at libor plus 0.85% (1.00% at December 31, 2014) and interest expense on the margin loan was $52, $24 and $34 for the years ended December 31, 2014, 2013 and 2012, respectively.

When evaluating the investments for other-than-temporary impairment, the Company reviews factors such as the length of time and extent to which fair value has been below cost basis, the financial condition of the issuer and any changes thereto, and the Company's intent to sell, or whether it is more likely than not it will be required to sell, the investment before recovery of the investment's amortized cost basis. As of December 31, 2014 and 2013, the Company did not recognize any impairment charges.

Fair Value Measurements

Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs.

The standard describes a fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value:

•

Level 1 – Quoted prices in active markets for identical assets or liabilities.

•

Level 2 – Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

•

Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

As of December 31, 2014 all of the Company's equity securities were classified as Level 1 assets and there were no transfers between the level classifications. The Company did not have any other significant financial assets or liabilities, which would require revised valuations that are recognized at fair value.

Mortgages_Payable

Mortgages Payable	12 Months Ended
	Dec. 31, 2014
Mortgages Payable [Abstract]
Mortgages Payable	6	Mortgages Payable
	Mortgages payable consisted of the following:
															Loan Amount Outstanding
	Description		Interest Rate			Weighted			Maturity		Amount Due				As of				As of
						Average			Date		at Maturity				December 31,				December 31,
						Interest Rate									2014				2013
						as of December
						31, 2014
	Promissory Note, secured by four properties			4.94	%		4.94	%	Aug-18		$	21,754				23,761				24,260
							4.94	%							$	23,761			$	24,260
	Promissory Note
	On July 29, 2013, the Company, through certain subsidiaries, entered into a promissory note (the “Promissory Note”) with Barclays Bank PLC (“Barclays”) for approximately $24.4 million.  The Promissory Note has a term of five years with a maturity date of August 6, 2018, bears interest at 4.94%, and requires monthly principal and interest payments of approximately $142 through its stated maturity.
	The Promissory Note is cross-collateralized by four hotel properties consisting of the SpringHill Suites - Peabody, the TownePlace Suites - Metairie and the Arkansas Hotel Portfolio.
	Principal Maturities
	The following table, based on the initial terms of the mortgages, sets forth their aggregate estimated contractual principal maturities, including balloon payments due at maturity, as of December 31, 2014:
			2015			2016			2017				2018				2019				Thereafter		Total
	Principal maturities		$	524		$	548		$	580			$	22,109			$	-			$	-	$	23,761
	Debt Compliance
	Pursuant to the Company's debt agreements, approximately $1.0 million was held in restricted escrow accounts as of December 31, 2014. Such escrows are subject to release in accordance with the applicable debt agreement for the payment of real estate taxes, insurance and capital improvements, as required. Certain of our debt agreements also contain clauses providing for prepayment penalties and require the maintenance of certain ratios, including debt service coverage. The Company is currently in compliance with respect to all of its debt covenants.

Selling_Commission_Dealer_Mana

Selling Commission, Dealer Manager Fees and Other Offering Costs	12 Months Ended
	Dec. 31, 2014
Selling Commission Dealer Manager Fees And Other Offering Costs [Abstract]
Selling Commission, Dealer Manager Fees and Other Offering Costs	7. Selling Commission, Dealer Manager Fees and Other Offering Costs
	Selling commissions and dealer manager fees are paid to the Dealer Manager, pursuant to various agreements, and other third-party offering expenses such as registration fees, due diligence fees, marketing costs, and professional fees are accounted for as a reduction against additional paid-in capital (“APIC”) as costs are incurred. Any organizational costs are accounted for as general and administrative costs. The following table represents the selling commissions and dealer manager and other offering costs for the periods indicated:
		For the Years Ended December 31,
		2014		2013		2012
	Selling commissions and dealer manager fees	$	8,934	$	2,023	$	715
	Other offering costs	$	611	$	1,937	$	1,495
	Since commencement of its Offering through the termination of the Follow-On Offering (September 27, 2014), the Company has incurred approximately $16.3 million in selling commissions and dealer manager fees and $8.5 million of other offering costs.

Subscription_Receivable

Subscription Receivable	12 Months Ended
	Dec. 31, 2014
Subscription Receivable [Abstract]
Subscription Receivable	8.    Subscription Receivable
	The subscription receivable relates to shares issued to the Company's shareholders for which the proceeds have not yet been received by the Company solely due to a fact of timing of transfers from the escrow agent holding the funds.

Stockholders_Equity

Stockholder's Equity	12 Months Ended
	Dec. 31, 2014
Stockholder's Equity [Abstract]
Stockholder's Equity	9.    Stockholder's Equity
	Preferred Shares
	Shares of preferred stock may be issued in the future in one or more series as authorized by the Company's Board of Directors. Prior to the issuance of shares of any series, the Board of Directors is required by the Company's charter to fix the number of shares to be included in each series and the terms, preferences, conversion or other rights, voting powers, restrictions, limitations as to dividends or other distributions, qualifications and terms or conditions of redemption for each series. Because the Company's Board of Directors has the power to establish the preferences, powers and rights of each series of preferred stock, it may provide the holders of any series of preferred stock with preferences, powers and rights, voting or otherwise, senior to the rights of holders of our common stock. The issuance of preferred stock could have the effect of delaying, deferring or preventing a change in control of the Company, including an extraordinary transaction (such as a merger, tender offer or sale of all or substantially all of our assets) that might provide a premium price for holders of the Company's common stock. To date, the Company had no outstanding preferred shares.
	Common Shares
	All of the common stock offered by the Company will be duly authorized, fully paid and nonassessable. Subject to the preferential rights of any other class or series of stock and to the provisions of its charter regarding the restriction on the ownership and transfer of shares of our stock, holders of the Company's common stock will be entitled to receive distributions if authorized by the Board of Directors and to share ratably in the Company's assets available for distribution to the stockholders in the event of a liquidation, dissolution or winding-up.
	Each outstanding share of the Company's common stock entitles the holder to one vote on all matters submitted to a vote of stockholders, including the election of directors. There is no cumulative voting in the election of directors, which means that the holders of a majority of the outstanding common stock can elect all of the directors then standing for election, and the holders of the remaining common stock will not be able to elect any directors.
	Holders of the Company's common stock have no conversion, sinking fund, redemption or exchange rights, and have no preemptive rights to subscribe for any of its securities. Maryland law provides that a stockholder has appraisal rights in connection with some transactions. However, the Company's charter provides that the holders of its stock do not have appraisal rights unless a majority of the Board of Directors determines that such rights shall apply. Shares of the Company's common stock have equal dividend, distribution, liquidation and other rights.
	Under its charter, the Company cannot make any material changes to its business form or operations without the approval of stockholders holding at least a majority of the shares of our stock entitled to vote on the matter. These include (1) amendment of its charter, (2) its liquidation or dissolution, (3) its reorganization, and (4) its merger, consolidation or the sale or other disposition of its assets. Share exchanges in which the Company is the acquirer, however, do not require stockholder approval.
	Distributions
	U.S. federal income tax law requires that a REIT distribute annually at least 90% of its REIT taxable income (which does not equal net income, as calculated in accordance with GAAP) determined without regard to the deduction for dividends paid and excluding any net capital gain. In order to continue to qualify for REIT status, we may be required to make distributions in excess of cash available.
	Distributions will be at the discretion of our Board of Directors. We commenced quarterly distributions beginning with the fourth quarter of 2009 and we have generally used cash proceeds from the sale of shares of our common stock to fund such distributions. We may continue to pay such distributions from the sale of shares of our common stock or borrowings if we do not generated sufficient cash flow from our operations to fund distributions. Our ability to pay regular distributions and the size of these distributions will depend upon a variety of factors. For example, our borrowing policy permits us to incur short-term indebtedness, having a maturity of two years or less, and we may have to borrow funds on a short-term basis to meet the distribution requirements that are necessary to achieve the tax benefits associated with qualifying as a REIT. We cannot assure that regular distributions will continue to be made or that we will maintain any particular level of distributions that we have established or may establish.
	We are an accrual basis taxpayer, and as such our REIT taxable income could be higher than the cash available to us. We may therefore borrow to make distributions, which could reduce the cash available to us, in order to distribute 90% of our REIT taxable income as a condition to our election to be taxed as a REIT. These distributions made with borrowed funds may constitute a return of capital to stockholders. “Return of capital” refers to distributions to investors in excess of net income. To the extent that distributions to stockholders exceed earnings and profits, such amounts constitute a return of capital for U.S. federal income tax purposes, although such distributions might not reduce stockholders' aggregate invested capital. Because our earnings and profits are reduced for depreciation and other non-cash items, it is likely that a portion of each distribution will constitute a tax-deferred return of capital for U.S. federal income tax purposes.
	On March 30, 2009, our Board of Directors declared the Annualized Distribution Rate for each quarterly period commencing 30 days subsequent to achieving the minimum offering of 500,000 shares of common stock. The distribution is calculated based on stockholders of record each day during the applicable period at a rate of $0.00178082191 per share per day, and equals a daily amount that, if paid each day for a 365-day period, would equal a 6.5% annualized rate based on the share price of $10.00.
	At the beginning of October 2009, we achieved our minimum offering of 500,000 shares of common stock and on November 3, 2009, our Board of Directors declared our first quarterly distribution at an annualized distribution rate (the “Annualized Distribution Rate”) for the three-month period ending December 31, 2009. Subsequently, our Board of Directors has declared regular quarterly distributions at the Annualized Distribution Rate
	Total distributions declared during the years ended December 31, 2014, 2013 and 2012 were $8.2 million, $4.1 million and $3.3 million, respectively.
	On March 27, 2015, the our Board of Directors declared the quarterly distribution for the three-month period ended March 31, 2015 in the amount of $0.00178082191 per share per day payable to stockholders of record on the close of business each day during the quarter, which will be paid on April 15, 2015.
	Our stockholders have the option to elect the receipt of shares of common stock in lieu of cash under our DRIP. On January 19, 2015, the Board of Directors suspended the Company's DRIP effective April 15, 2015. For so long as the DRIP remains suspended, all future distributions will be in the form of cash.
	The amount of distributions to be paid to our stockholders in the future will be determined by our Board of Directors and are dependent on a number of factors, including funds available for payment of distributions, our financial condition, capital expenditure requirements and annual distribution requirements needed to maintain our status as a REIT under the Code.
	Equity Compensation Plans
	The Company's Employee and Director Incentive Restricted Share Plan provides for grants of awards to its directors, officers and full-time employees (in the event the Company ever has employees), full-time employees of its advisor and its affiliates, full-time employees of entities that provide services to it, directors of its advisor or of entities that provide services to it, certain of its consultants and certain consultants to the advisor and its affiliates or to entities that provide services to it. Such awards shall consist of restricted shares.
	Restricted share awards entitle the recipient to common shares from us under terms that provide for vesting over a specified period of time or upon attainment of pre-established performance objectives. Such awards would typically be forfeited with respect to the unvested shares upon the termination of the recipient's employment or other relationship with the Company. Restricted shares may not, in general, be sold or otherwise transferred until restrictions are removed and the shares have vested. Holders of restricted shares may receive cash dividends prior to the time that the restrictions on the restricted shares have lapsed. Any dividends payable in common shares shall be subject to the same restrictions as the underlying restricted shares.
	On March 30, 2012, our Board of Directors approved the termination of our stock option plan. The stock option plan was terminated by our Board of Directors as a result of a request from a state securities regulator. Prior to its termination, we had adopted a stock option plan under which our independent directors were eligible to receive annual nondiscretionary awards of nonqualified stock options. We had authorized and reserved 75,000 shares of our common stock for issuance under our stock option plan, which shares are no longer reserved for such purpose.

Noncontrolling_Interests

Noncontrolling Interests	12 Months Ended
	Dec. 31, 2014
Noncontrolling Interests [Abstract]
Noncontrolling Interests	10. Noncontrolling Interests
	The noncontrolling interests consist of (i) parties of the Company that hold units in the Operating Partnership and (ii) the interests held by minority owners of certain of our hotels. The units include Subordinated Profits Interests, limited partner units, and Common Units. With respect to the units in the Operating Partnership, the noncontrolling interest in the Company's consolidated balance sheets as of December 31, 2014 and 2013 include (i) the 200 limited partner units held by the Advisor and (ii) 177 and 64 Subordinated Profits Interests units held by Lightstone SLP II LLC as of December 31, 2014 and 2013, respectively.
	Share Description
	See Note 1 for a discussion of rights related to the Subordinated Profits Interests. The limited partner and Common Units of the Operating Partnership have similar rights as those of the Company's stockholders including distribution rights.
	Distributions
	During the year ended December 31, 2014, 2013 and 2012, the Company paid distributions to noncontrolling interests in LVP Metairie JV LLC of $131, $175 and $306, respectively.

Related_Party_Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2014
Related Party Transactions [Abstract]
Related Party Transactions	11. Related Party Transactions
	The Company has agreements with the Dealer Manager, Advisor and Property Managers to pay certain fees, as follows, in exchange for services performed by these entities and other affiliated entities. The Company's ability to secure financing and subsequent real estate operations are dependent upon its Advisor, Property Managers and their affiliates to perform such services as provided in these agreements.
	Fees	Amount
	Selling Commission	The Dealer Manager was paid up to 7% of the gross offering proceeds before reallowance of commissions earned by participating broker-dealers. From our inception through the termination of the Follow-On Offering (September 27, 2014), approximately $11.2 million of selling commissions were incurred.
	Dealer Management Fee	The Dealer Manager was paid up to 3% of gross offering proceeds before reallowance to participating broker-dealers. From our inception through termination of the Follow-On Offering (September 27, 2014), approximately $5.1 million of dealer management fees were incurred.
	Reimbursement of Offering Expenses	The Company sold Subordinated Profits Interests to Lightstone SLP II LLC for $12.9 million and Lightstone SLP II LLC contributed equity interests totaling 48.6% in Brownmill, which were valued at $4.8 million, in exchange for 177.0 Subordinated Profits Interests with an aggregate value of $17.7 million. The proceeds received from the cash sale of Subordinated Profits Interests were used to pay the dealer manager fees and selling commissions.
	Fees	Amount
	Acquisition Fee	The Advisor will be paid an acquisition fee equal to 0.95% of the gross contractual purchase price (including any mortgage assumed) of each property purchased. The Advisor will also be reimbursed for expenses that it incurs in connection with the purchase of a property.
	Property	The Property Manager will be paid a monthly management fee of up to 5% of the gross revenues from residential, hospitality and retail properties. The Company may pay the Property Managers a separate fee for the one-time initial rent-up or leasing-up of newly constructed properties in an amount not to exceed the fee customarily charged in arm's length transactions by others rendering similar services in the same geographic area for similar properties as determined by a survey of brokers and agents in such area.
	Management –  Residential/Retail/
	Hospitality
	Property	The Property Manager s will be paid monthly property management and leasing fees of up to 4.5% of gross revenues from office and industrial properties. In addition, the Company may pay the Property Managers a separate fee for the one-time initial rent-up or leasing-up of newly constructed properties in an amount not to exceed the fee customarily charged in arm's length transactions by others rendering similar services in the same geographic area for similar properties as determined by a survey of brokers and agents in such area.
	Management –
	Office/Industrial
	Asset Management	The Advisor or its affiliates will be paid an asset management fee of 0.95% of the Company's average invested assets, as defined, payable quarterly in an amount equal to 0.2375 of 1% of average invested assets as of the last day of the immediately preceding quarter.
	Fee
	Reimbursement of	For any year in which the Company qualifies as a REIT, the Advisor must reimburse the Company for the amounts, if any, by which the total operating expenses, the sum of the advisor asset management fee plus other operating expenses paid during the previous fiscal year exceed the greater of 2% of average invested assets, as defined, for that fiscal year, or, 25% of net income for that fiscal year. Items such as property operating expenses, depreciation and amortization expenses, interest payments, taxes, non-cash expenditures, the special liquidation distribution, the special termination distribution, organization and offering expenses, and acquisition fees and expenses are excluded from the definition of total operating expenses, which otherwise includes the aggregate expense of any kind paid or incurred by the Company.
	Other expenses
		The Advisor or its affiliates will be reimbursed for expenses that may include costs of goods and services, administrative services and non-supervisory services performed directly for the Company by independent parties.
	Lightstone SLP II, LLC has purchased Subordinated Profits Interests in the Operating Partnership. These Subordinated Profits Interests, the purchase price of which will be repaid only after stockholders receive a stated preferred return and their net investment, may entitle Lightstone SLP II, LLC to a portion of any regular distributions made by the Operating Partnership. There have been no distributions to date. Any future distributions will be paid at a 7% annualized rate of return to Lightstone SLP II, LLC and will always be subordinated until stockholders receive a stated preferred return, as described below.
	The Subordinated Profits Interests may also entitle Lightstone SLP II, LLC to a portion of any liquidating distributions made by the Operating Partnership. The value of such distributions will depend upon the net sale proceeds upon the liquidation of the Company and, therefore, cannot be determined at the present time. Liquidating distributions to Lightstone SLP II, LLC will always be subordinated until stockholders receive a distribution equal to their initial investment plus a stated preferred return, as described below:
	Liquidating Stage	Amount of Distribution
	Distributions
	7% Stockholder Return Threshold	Once stockholders have received liquidation distributions, and a cumulative non-compounded 7% return per year on their initial net investment, Lightstone SLP, LLC will receive available distributions until it has received an amount equal to its initial purchase price of the Subordinated Profits Interests plus a cumulative non-compounded return of 7% per year.
	Returns in Excess of 7%	Once stockholders have received liquidation distributions, and a cumulative non-compounded return of 7% per year on their initial net investment, 70% of the aggregate amount of any additional distributions from the Operating Partnership will be payable to the stockholders, and 30% of such amount will be payable to Lightstone SLP II, LLC, until a 12% return is reached.
	Returns in Excess of 12%	After stockholders and Lightstone SLP II, LLC have received liquidation distributions, and a cumulative non-compounded return of 12% per year on their initial net investment, 60% of any remaining distributions from the Operating Partnership will be distributable to stockholders, and 40% of such amount will be payable to Lightstone SLP II, LLC.
	Operating Stage	Amount of Distribution
	Distributions
	7% stockholder Return Threshold	Once a cumulative non-compounded return of 7% return on their net investment is realized by stockholders, Lightstone SLP II, LLC is eligible to receive available distributions from the Operating Partnership until it has received an amount equal to a cumulative non-compounded return of 7% per year on the purchase price of the Subordinated Profits Interests. “Net investment” refers to $10 per share, less a pro rata share of any proceeds received from the sale or refinancing of the Company's assets.
	Returns in excess of 7%	Once a cumulative non-compounded return of 7% per year is realized by stockholders on their net investment, 70% of the aggregate amount of any additional distributions from the Operating Partnership will be payable to the stockholders, and 30% of such amount will be payable to Lightstone SLP II, LLC until a 12% return is reached.
	Returns in Excess of 12%	After the 12% return threshold is realized by stockholders and Lightstone SLP II, LLC, 60% of any remaining distributions from the Operating Partnership will be distributable to stockholders, and 40% of such amount will be payable to Lightstone SLP II, LLC.
	In addition to certain related party payments made to the Dealer Manager (see Note 7), the Company also has agreements with the Advisor and the Property Managers and their affiliates to perform such services as provided in these agreements.
	The following table represents the fees incurred associated with the payments to the Company's Advisor and Property Manager for the periods:
		For the Years Ended December 31,
		2014		2013		2012
	Acquisition fees	$	547	$	102	$	85
	Asset management fees		-		114		346
	Development fees		140		78		-
	Total	$	687	$	294	$	431
	Pursuant to an Advisory Agreement, our Advisor is entitled to receive an asset management fee equal to 0.95% of our average invested assets, as defined. The asset management fee is payable quarterly and based on balances as of the end of each month in the quarterly period. Commencing with the quarter ended June 30, 2013, the Advisor has elected to waive or reduce its quarterly asset management fee to the extent our non-GAAP measure modified funds from operations available, or MFFO, as defined by the Investment Program Association, or IPA, for the preceding twelve months period ending on the last day of the current quarter is less than the distributions declared with respect to the same twelve month period. As a result, asset management fees of $0.8 and $0.4 million were waived by the Advisor during the year ended December 31, 2014 and 2013.
	As of December 31, 2014, the Company owns a 48.6% membership interest in Brownmill. Affiliates of the Company's Sponsor are the majority owners and manager of Brownmill. See Note 4.
	Other Related Party Transactions
	From time to time, the Company purchases title insurance from an agent in which our Sponsor owns a 50% limited partnership interest. Because this title insurance agent receives significant fees for providing title insurance, our Advisor may face a conflict of interest when considering the terms of purchasing title insurance from this agent. However, prior to the purchase by the Company of any title insurance, an independent title consultant with more than 25 years of experience in the title insurance industry reviews the transaction, and performs market research and competitive analysis on our behalf. This process results in terms similar to those that would be negotiated at an arm's length basis. During the years ended December 31, 2014, 2013 and 2012, the Company has paid approximately $44, $106 and $32 in fees to this title insurance agent, respectively.

Commitments_and_Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2014
Commitments and Contingencies [Abstract]
Commitments and Contingencies	12. Commitments and Contingencies
	Legal Proceedings
	From time to time in the ordinary course of business, the Company may become subject to legal proceedings, claims or disputes.
	On July 13, 2011, JF Capital Advisors, filed a lawsuit against The Lightstone Group, LLC, the Company, and Lightstone Value Plus Real Estate Investment Trust, Inc. in the Supreme Court of the State of New York seeking payment for services alleged to have been rendered, and to be rendered prospectively, under theories of unjust enrichment and breach of contract. The plaintiff had a limited business arrangement with The Lightstone Group, LLC; that arrangement has been terminated. We filed a motion to dismiss the action and, on January 31, 2012, the Supreme Court dismissed the complaint in its entirety, but granted the plaintiff leave to replead two limited causes of action.
	The plaintiff filed an amended complaint on May 18, 2012, bringing limited claims under theories of unjust enrichment and quantum meruit. On November 21, 2012, the court dismissed this second complaint in part, leaving only $164 (plus interest) in potential damages. The plaintiff appealed this decision and Lightstone cross-appealed arguing that the case should have been dismissed in full. The appeals court denied plaintiff's motion and granted defendants' motion, as a result of which all claims were dismissed on March 25, 2014. The plaintiff filed a motion requesting the right to re-appeal to the Court of Appeals, which was granted on August 1, 2014. Lightstone continues to believe these claims to be without merit and will defend the case vigorously.
	While any proceeding or litigation has an element of uncertainty, management currently believes that the likelihood of an unfavorable outcome with respect to the aforementioned legal proceedings is remote. No provision for loss has been recorded in connection therewith.
	As of the date hereof, the Company is not a party to any material pending legal proceedings of which the outcome is probable or reasonably possible to have a material adverse effect on its results of operations or financial condition, which would require accrual or disclosure of the contingency and possible range of loss. Additionally, the Company has not recorded any loss contingencies related to legal proceedings in which the potential loss is deemed to be remote.

Quarterly_Financial_Data

Quarterly Financial Data	12 Months Ended
	Dec. 31, 2014
Quarterly Financial Data [Abstract]
Quarterly Financial Data	13. Quarterly Financial Data (Unaudited)
	The following table presents selected unaudited quarterly financial data for each quarter during the year ended December 31, 2014 and 2013:
			2014
			Year ended			Quarter ended			Quarter ended			Quarter ended			Quarter ended
			December 31,			December 31,			September 30,			June 30,			March 31,
	Total revenue		$	23,566		$	7,289		$	6,601		$	6,408		$	3,268
	Operating income/(loss)		$	1,668		$	88		$	834		$	895		$	(149	)
	Net income /(loss) (a)		$	4,540		$	2,807		$	855		$	845		$	33
	Less (income)/loss attributable to noncontrolling interests			(68	)		(9	)		(23	)		(31	)		(5	)
	Net income/(loss) applicable to Company's common shares		$	4,472		$	2,798		$	832		$	814		$	28
	Net income/(loss) per common share, basic and diluted		$	0.35		$	0.15		$	0.06		$	0.08		$	-
		a)	Net income for the year ended December 31, 2014 includes a bargain purchase gain of $2.8 million in the 4th quarter of 2014 in connection with the purchase of the Philadelphia Airport Hotel Portfolio. (See Note 3)
			2013
			Year ended			Quarter ended			Quarter ended			Quarter ended			Quarter ended
			December 31,			December 31,			September 30,			June 30,			March 31,
	Total revenue		$	13,058		$	3,335		$	4,092		$	3,308		$	2,323
	Operating income/(loss)		$	541		$	26		$	490		$	314		$	(289	)
	Net income /(loss) (a)		$	1,370		$	(238	)	$	202		$	1,535		$	(129	)
	Less (income)/loss attributable to noncontrolling interests			(40	)		16			(1	)		(66	)		11
	Net income/(loss) applicable to Company's common shares		$	1,330		$	(222	)	$	201		$	1,469		$	(118	)
	Net income/(loss) per common share, basic and diluted		$	0.21		$	(0.03	)	$	0.03		$	0.25		$	(0.02	)
		b)	Net income for the year ended December 31, 2013 includes a bargain purchase gain of $1.2 million in the 2nd quarter of 2013 in connection with the purchase of the Arkansas Hotel Portfolio. (See Note 3)

Subsequent_Events

Subsequent Events	12 Months Ended
	Dec. 31, 2014
Subsequent Events [Abstract]
Subsequent Events	14. Subsequent Events
	Joint Venture to acquire 11 limited service hotels
	On January 19, 2015, the board of directors (the “Board of Directors”) of the Company provided approval for the Company to form a joint venture (the “Joint Venture”) with Lightstone I and for the Joint Venture to acquire Lightstone I's membership interest in 11 limited service hotels for approximately $122.4 million, plus closing and other third party transaction costs, contingent upon lender approval. As of December 31, 2014, the 11 limited service hotels were encumbered by approximately $67.2 million in debt. The purchase price was determined based on independent third-party appraisals.
	On January 29, 2015 the Company through its operating partnership, entered into an agreement to form the Joint Venture with Lightstone I whereby the Company and Lightstone I have 97.5% and 2.5% membership interests in the Joint Venture, respectively. The Company is the managing member. Each member may receive distributions and make future capital contributions based upon its respective ownership percentage, as required.
	On January 29, 2015, the Company, through the Joint Venture, and Lightstone I, through a wholly owned subsidiary of Lightstone Value Plus REIT LP, entered into five separate contribution agreements pursuant to which the Joint Venture agreed to acquire Lightstone I's membership interest in a portfolio of five limited service hotels (the “Hotel Portfolio”) for approximately $64.6 million, excluding transaction costs. The Hotel Portfolio represents five of the 11 limited service hotels to be acquired previously approved by the Board of Directors. The limited service hotels included in the Hotel Portfolio are as follows:
		•	a 90-room limited service hotel which operates as a Courtyard by Marriott located in Willoughby, Ohio
		•	a 102-room limited service hotel which operates as a Fairfield Inn & Suites by Marriott located in West Des Moines, Iowa
		•	a 97-suite limited service hotel which operates as a SpringHill Suites by Marriott located in West Des Moines, Iowa
		•	a 126-room limited service hotel which operates as a Hampton Inn located in Miami, Florida
		•	a 104-room limited service hotel which operates as a Hampton Inn & Suites located in Fort Lauderdale, Florida
	On January 29, 2015, the Company, through two wholly owned subsidiaries, entered into a $60.0 million Revolving Credit Facility with GE Capital Markets, Inc. (“GE Capital”). The Revolving Credit Facility bears interest at Libor plus 4.95% (5.20% as of January 29, 2015) and provides a line of credit over the next three years, with two, one-year options to extend solely at the discretion of GE Capital. The Revolving Credit Facility may be accelerated upon the occurrence of customary events of default. Interest is payable monthly and the entire unpaid principal balance is due upon expiration of the Revolving Credit Facility. Under the terms of the Revolving Credit Facility, the Company may designate properties as collateral that allow the Company to borrow up to a 65.0% loan-to-value ratio of the properties. On January 29, 2015, the Company received the initial loan of $35.0 million under the Revolving Credit Facility which is secured by the Hotel Portfolio plus the Aloft — Tucson and the Holiday Inn — Opelika and $25.0 million remained available under the Revolving Credit Facility.
	On February 11, 2015, the Company, through the Joint Venture, completed the acquisition of a 100% membership interest in Courtyard-Parsippany and the acquisition of a 90% membership interest in the Residence Inn - Baton Rouge. In connection with the acquisition of the Courtyard – Parsippany and the Residence Inn - Baton Rouge, the Joint Venture, through subsidiaries, assumed approximately $11.2 million of debt and paid approximately $12.2 million from cash contributed by the Joint Venture members based upon their respective ownership percentages (the Company $11.9 million and Lightstone I $0.3 million.) The Company's contribution was funded with offering proceeds from the sale of the Company's common stock. The Company's advisor has elected to waive the acquisition fee associated with this transaction and did not receive any fees associated with this transaction.
	The $7.8 million loan assumed related to Courtyard-Parsippany is secured by the hotel, has maturity date of August 1, 2018, bears interest at Libor plus 3.50% and requires monthly principal and interest payments through its stated maturity. The $3.8 million loan assumed related to Residence Inn-Baton Rouge is secured by the hotel, has a maturity date of November 2018, bears interest at 5.36% and requires monthly principal and interest payments through its stated maturity.
	The Company through, the Joint Venture, has acquired membership interests in 7 of the 11 limited service hotels approved for acquisition.
	Revolving Promissory Note
	On February 4, 2015, the Company provided Lightstone Value Plus Real Estate Investment Trust III, Inc. (“Lightstone III”) with a $10.0 million Revolving Promissory Note (the “Revolving Promissory Note”.) The Revolving Promissory Note has a term of one year, bears interest at a floating rate of three-month Libor plus 6.0% and requires quarterly interest payments through its stated maturity with the entire unpaid balance due upon maturity.  The Company received an origination fee of $0.1 million in connection with issuance of the Revolving Promissory Note. Ligthstone III pledged its ownership interest in a 120-room select service hotel located in Des Moines, Iowa, which operates as a Hampton Inn, as collateral for the Revolving Promissory Note.
	Distribution Declaration
	On March 27, 2015, the Company's Board of Directors declared the quarterly distribution for the three-month period ended March 31, 2015, in the amount of $0.00178082191 per share per day, and will equal a daily amount that, if paid each day for a 365-day period, would equal a 6.5% annualized rate based on a share price of $10.00. The distribution will be paid in cash on April 15, 2015 to shareholders of record as of March 31, 2015.

Schedule_III_Real_Estate_and_A

Schedule III Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2014
Schedule III Real Estate and Accumulated Depreciation [Abstract]
Schedule III Real Estate and Accumulated Depreciation	Schedule III
	Real Estate and Accumulated Depreciation
	31-Dec-14
				Initial Cost  (A)						Gross amount at which
										carried at end of period
		Encumbrance		Land		Buildings and		Net Costs		Land and		Buildings and		Total (B)		Accumulated			Date Acquired	Depreciable
						Improvements		Capitalized &		Improvements		Improvements				Depreciation (C)				Life (D)
								Impairments
								Subsequent to
								Acquisition
	TownePlace Suites Hotel
	Harahan, LA	$	9,244	$	1,800	$	10,484	$	1,896	$	1,800	$	12,380	$	14,180	$	(1,573	)	1/19/11	(D)
	SpringHill Suites Hotel
	Peabody, MA		7,930		2,126		10,624		2,786		2,168		13,368		15,536		(1,876	)	7/13/12	(D)
	Fairfield Inn
	East Rutherford, NJ		-		2,945		8,743		5,240		2,973		13,955		16,928		(1,059	)	12/31/12	(D)
	TownePlace Suites Hotel
	Johnson, AR		2,919		990		4,710		549		990		5,259		6,249		(388	)	6/18/13	(D)
	TownePlace Suites Hotel
	Little Rock, AR		3,668		1,037		5,220		908		1,046		6,119		7,165		(406	)	6/18/13	(D)
	Holiday Inn Express Hotel
	Opelika, AL		-		999		5,871		-		999		5,871		6,870		(172	)	4/1/14	(D)
	Aloft Tucson University Hotel
	Tucson, AZ		-		1,860		17,140		24		1,860		17,164		19,024		(554	)	4/8/14	(D)
	Hampton Inn Hotel
	Ft. Myers Beach, FL		-		3,028		6,397		5		3,028		6,402		9,430		(83	)	10/2/14	(D)
	Aloft Philadelphia Airport Hotel
	Philadelphia, PA		-		2,595		11,805		8		2,595		11,813		14,408		-		12/17/14	(D)
	Four Points by Sheraton Hotel
	Philadelphia, PA		-		3,267		5,733		-		3,267		5,733		9,000		-		12/17/14	(D)
	Vacant Lot
	Philadelphia, PA		-		2,000		-		-		2,000		-		2,000		-		12/17/14	(D)
	Total	$	23,761	$	22,647	$	86,727	$	11,416	$	22,726	$	98,064	$	120,790	$	(6,111	)
	Notes to Schedule III:
	(A) The initial cost to the Company represents the original purchase price of the property, including (i) bargain purchase gains recorded in connection with the acquisition and (ii) amounts incurred subsequent to acquisition which were contemplated at the time the property was acquired.
	(B) Reconciliation of total real estate owned:
		2014		2013		2012
	Balance at beginning of year	$	56,757	$	37,336	$	12,514
	Acquisitions, at cost		57,905		10,694		16,581
	Acquisitions, bargain purchase gain		2,790		1,263		7,857
	Improvements		3,338		7,464		384
	Balance at end of year	$	120,790	$	56,757	$	37,336
	(C) Reconciliation of accumulated depreciation:
		For the years ended December 31,
		2014		2013		2012
	Balance at beginning of year	$	2,670		850	$	293
	Depreciation expense		3,441		1,820		557
	Balance at end of year	$	6,111	$	2,670	$	850
	(D) Depreciation is computed based upon the following estimated lives:
	Buildings and improvements		15-39 years
	Tenant improvements and equipment		5-10 years

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2014
Summary of Significant Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation
	The consolidated financial statements include the accounts of Lightstone REIT II and the Operating Partnership and its subsidiaries (over which Lightstone REIT exercises financial and operating control). As of December 31, 2014, the Company had a 99% general partnership interest in the Operating Partnership. All inter-company balances and transactions have been eliminated in consolidation.
	The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). GAAP requires the Company's management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities and the reported amounts of revenues and expenses during a reporting period. The most significant assumptions and estimates relate to the valuation of real estate and investments in other real estate entities, depreciable lives of long-lived assets and revenue recognition. Application of these assumptions requires the exercise of judgment as to future uncertainties and, as a result, actual results could differ from these estimates.
	Investments in other real estate entities where the Company has the ability to exercise significant influence, but does not exercise financial and operating control, and is not considered to be the primary beneficiary will be accounted for using the equity method. Investments in other real estate entities where the Company has virtually no influence will be accounted for using the cost method.
Cash and Cash Equivalents	Cash and Cash Equivalents
	The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. All cash equivalents are held in commercial paper and money market funds.
	Supplemental disclosure of cash flow information:	Year Ended December 31,
		2014		2013		2011
	Cash paid for interest	$	1,255	$	939	$	413
	Distributions declared	$	8,194	$	4,050	$	3,268
	Noncash commissions and other offering costs in accounts payable and other accrued expenses	$	126	$	193	$	254
	Subscription receivable	$	55	$	25	$	(104	)
	Value of shares issued from distribution reinvestment program	$	3,258	$	1,791	$	1,458
	Issuance of units in exchange for investment in unconsolidated affiliated entities	$	-	$	-	$	911
	Restricted escrow deposits and related liability initially established related to Note receivable received in connection	$	-	$	-	$	2,400
	with disposition of investment in unconsolidated affiliated entity
	Satisfaction of promissory note	$	-	$	-	$	7,029
Marketable Securities	Marketable Securities
	Marketable securities consist of equity securities and corporate bonds that are designated as available-for-sale and are recorded at fair value. Unrealized holding gains or losses will be reported as a component of accumulated other comprehensive income (loss). Realized gains or losses resulting from the sale of these securities will be determined based on the specific identification of the securities sold. An impairment charge will be recognized when the decline in the fair value of a security below the amortized cost basis is determined to be other-than-temporary. The Company will consider various factors in determining whether to recognize an impairment charge, including the duration and severity of any decline in fair value below our amortized cost basis, any adverse changes in the financial condition of the issuers and our intent and ability to hold the investment for a period of time sufficient to allow for any anticipated recovery in market value. The Board has authorized the Company from time to time to invest the Company's available cash in marketable securities of real estate related companies. The Board of Directors has approved investments up to 30% of the Company's total assets to be made at the Company's discretion, subject to compliance with any REIT or other restrictions.
Revenue Recognition	Revenue Recognition
	The Company invests in real estate assets that generate rental income. Minimum rents will be recognized on a straight-line accrual basis, over the terms of the related leases. The capitalized above-market lease values and the capitalized below-market lease values will be amortized as an adjustment to rental income over the initial lease term. Percentage rents, which are based on commercial tenants' sales, will be recognized once the sales reported by such tenants exceed any applicable breakpoints as specified in the tenants' leases. Recoveries from commercial tenants for real estate taxes, insurance and other operating expenses, and from residential tenants for utility costs, will be recognized as revenues in the period that the applicable costs are incurred. Revenues from the operations of hotels is recognized when the services are provided.
Accounts Receivable	Accounts Receivable
	The Company makes estimates of the uncollectability of its accounts receivable related to base rents, expense reimbursements and other revenues. The Company analyzes accounts receivable and historical bad debt levels, customer credit worthiness and current economic trends when evaluating the adequacy of the allowance for doubtful accounts. In addition, tenants in bankruptcy are analyzed and estimates are made in connection with the expected recovery of pre-petition and post-petition claims. The Company's reported net income or loss is directly affected by management's estimate of the collectability of accounts receivable.
Investment in Real Estate	Investment in Real Estate
	Accounting for Acquisitions
	When the Company makes an investment in real estate, the fair value of the real estate acquired is allocated to the acquired tangible assets, consisting of land, building and tenant improvements, and identified intangible assets and liabilities, consisting of the value of above-market and below-market leases for acquired in-place leases and the value of tenant relationships, based in each case on their fair values. Purchase accounting is applied to assets and liabilities related to real estate entities acquired based upon the percentage of interest acquired. Fees incurred related to acquisitions are expensed as incurred and recorded in general and administrative costs in the consolidated statements of operation. Transaction costs incurred related to the Company's investments in unconsolidated affiliated entities, accounted for under the equity method of accounting, are capitalized as part of the cost of the investment.
	Upon the acquisition of real estate operating properties, the Company estimates the fair value of acquired tangible assets and identified intangible assets and liabilities and certain liabilities such as assumed debt and contingent liabilities, at the date of acquisition, based on evaluation of information and estimates available at that date. Based on these estimates, the Company allocates the initial purchase price to the applicable assets, liabilities and noncontrolling interests, if any. As final information regarding fair value of the assets acquired, liabilities assumed and noncontrolling interests is received and estimates are refined, appropriate adjustments are be made to the purchase price allocation. The allocations are finalized as soon as all the information necessary is available and in no case later than within twelve months from the acquisition date.
	In determining the fair value of the identified intangible assets and liabilities of an acquired property, above-market and below-market in-place lease values are recorded based on the present value (using an interest rate which reflects the risks associated with the leases acquired) of the difference between (i) the contractual amounts to be paid pursuant to the in-place leases and (ii) management's estimate of fair market lease rates for the corresponding in-place leases, measured over a period equal to the remaining non-cancelable term of the lease. The capitalized above-market lease values and the capitalized below-market lease values are amortized as an adjustment to rental income over the initial non-cancelable lease term and any fixed-rate renewal periods, which are reasonably assured, in the respective leases.
	The aggregate value of in-place leases is determined by evaluating various factors, including an estimate of carrying costs during the expected lease-up periods, current market conditions and similar leases. In estimating carrying costs, management includes real estate taxes, insurance and other operating expenses, and estimates of lost rental revenue during the expected lease-up periods based on current market demand. Management also estimates costs to execute similar leases including leasing commissions, legal and other related costs. Optional renewal periods are not considered.
	The aggregate value of other acquired intangible assets includes tenant relationships. Factors considered by management in assigning a value to these relationships include: assumptions of probability of lease renewals, investment in tenant improvements, leasing commissions and an approximate time lapse in rental income while a new tenant is located. The value assigned to this intangible asset is amortized over the remaining lease terms.
	Carrying Value of Assets
	The amounts capitalized as a result of periodic improvements and additions to real estate property, when applicable, and the periods over which the assets are depreciated or amortized, are determined based on the application of accounting standards that may require estimates as to fair value and the allocation of various costs to the individual assets. Differences in the amount attributed to the assets can be significant based upon the assumptions made in calculating these estimates.
	Impairment Evaluation
	Management evaluates the recoverability of its investments in real estate assets at the lowest identifiable level, the individual property level. Long-lived assets are tested for recoverability whenever events or changes in circumstances indicate that their carrying amount may not be recoverable. An impairment loss is recognized only if the carrying amount of a long-lived asset is not recoverable and exceeds its fair value.
	The Company evaluates the long-lived assets for potential impairment on a quarterly basis and records an impairment charge when there is an indicator of impairment and the undiscounted projected cash flows are less than the carrying amount for a particular property. The estimated cash flows used for the impairment analysis and the determination of estimated fair value are based on the Company's plans for the respective assets and the Company's views of market and economic conditions. The estimates consider matters such as current and historical rental rates, occupancies for the respective properties and comparable properties, and recent sales data for comparable properties. Changes in estimated future cash flows due to changes in the Company's plans or views of market and economic conditions could result in recognition of impairment losses, which, under the applicable accounting guidance, could be substantial. As of December 31, 2014 and 2013, the Company did not recognize any impairment charges.
Depreciation and Amortization	Depreciation and Amortization
	Depreciation expense is computed based on the straight-line method over the estimated useful life of the applicable real estate asset. We generally use estimated useful lives of up to thirty-nine years for buildings and improvements and five to ten years for furniture, fixtures and equipment. Expenditures for tenant improvements and construction allowances paid to commercial tenants are capitalized and amortized over the initial term of each lease. Expenditures for ordinary maintenance and repairs are charged to expense as incurred.
Deferred Costs	Deferred Costs
	The Company capitalizes initial direct costs associated with financing and leasing activities. The costs are capitalized upon the execution of the loan or lease and amortized over the initial term of the corresponding loan or lease. Amortization of deferred loan costs begins in the period during which the loan is originated using the effective interest method over the term of the loan. Deferred leasing costs are not amortized to expense until the earlier of the store opening date or the date the tenant's lease obligation begins.
Investments in Unconsolidated Affiliated Entities	Investments in Unconsolidated Affiliated Entities
	The Company evaluates its investments in other entities for consolidation.  The percentage interest in the joint venture, evaluation of control and whether a variable interest entity (“VIE”) exists are all considered in determining if the investment qualifies for consolidation.
	The Company accounts for its investments in unconsolidated affiliated entities using the equity or cost method of accounting, as appropriate. Under the equity method, the investment is recorded initially at cost, and subsequently adjusted for equity in net income/(loss) and cash contributions and distributions. The net income/(loss) of each investor is allocated in accordance with the provisions of the applicable operating agreements of the entities.  The allocation provisions in these agreements may differ from the ownership interest held by each investor.  Differences between the carrying amount of the Company's investment in the respective joint venture and the Company's share of the underlying equity of such unconsolidated affiliated entities are amortized over the respective lives of the underlying assets as applicable. These items are reported as a single line item in the consolidated statements of operations as income or loss from investments in unconsolidated affiliated entities. Under the cost method of accounting, the investment is recorded initially at cost, and subsequently adjusted for cash contributions and distributions resulting from any capital events. Dividends earned from the underlying entities are recorded as interest income in the consolidated statements of operations.
	On a quarterly basis, the Company assesses whether the value of the investments in unconsolidated affiliated entities has been impaired.  An investment is impaired only if management's estimate of the fair value of the investment is less than the carrying value of the investment, and such decline in value is deemed to be other than temporary.  To the extent impairment has occurred, the loss shall be measured as the excess of the carrying amount of the investment over the fair value of the investment.  Management's estimate of value for each investment is based on a number of assumptions that are subject to economic and market uncertainties.  As these factors are difficult to predict and are subject to future events that may alter our assumptions, the values estimated by management in the impairment analysis may not be realized. Any decline that is not considered temporary will result in the recording of an impairment charge. Management believes no impairment of its investments in unconsolidated affiliated entities existed as of December 31, 2014 and 2013.
Income Taxes	Income Taxes
	We elected to be taxed as a REIT in conjunction with the filing of our 2009 U.S. federal income tax return. If we remain qualified as a REIT, we generally will not be subject to U.S. federal income tax on our net taxable income that we distribute currently to our stockholders. To maintain our REIT qualification under the Internal Revenue Code of 1986, as amended, or the Code, we must meet a number of organizational and operational requirements, including a requirement that we annually distribute to our stockholders at least 90% of our REIT taxable income (which does not equal net income, as calculated in accordance with GAAP), determined without regard to the deduction for dividends paid and excluding any net capital gain. If we fail to remain qualified for taxation as a REIT in any subsequent year and do not qualify for certain statutory relief provisions, our income for that year will be taxed at regular corporate rates, and we may be precluded from qualifying for treatment as a REIT for the four-year period following our failure to qualify as a REIT. Such an event could materially adversely affect our net income and net cash available for distribution to our stockholders.
	The Company engages in certain activities through taxable REIT subsidiaries ("TRSs"). When the Company purchases a hotel it establishes a TRS and enters into an operating lease agreement for the hotel. As such, the Company may be subject to U.S. federal and state income taxes and franchise taxes from these activities.
	As of December 31, 2014, the Company had no material uncertain income tax. The tax years subsequent to and including 2010 remain open to examination by the major taxing jurisdictions to which we are subject.
	Additionally, even if we qualify as a REIT for U.S. federal income tax purposes, we may still be subject to some U.S. federal, state and local taxes on our income and property and to U.S. federal income taxes and excise taxes on our undistributed income.
Fair Value of Financial Instruments	Fair Value of Financial Instruments
	The carrying amounts of cash and cash equivalents, restricted escrows and deposits, prepaid expenses and other assets, accounts payable and other accrued expenses, margin loan, due to sponsor, and distributions payable approximated their fair values as of December 31, 2014 because of the short maturity of these instruments. The estimated fair value of our mortgages payable is as follows:
		As of December 31, 2014				As of December 31, 2013
	(Dollars in thousands)	Carrying Amount		Estimated Fair		Carrying Amount			Estimated Fair
				Value					Value
	Mortgages payable	$	23,761	$	23,548	$	24,260		$	23,898
Selling Commission, Dealer Manager Fees and Organization and Other Offering Costs	Selling Commission, Dealer Manager Fees and Organization and Other Offering Costs
	Selling commissions and dealer manager fees paid to the Dealer Manager, and other third-party offering expenses such as registration fees, due diligence fees, marketing costs, and professional fees are accounted for as a reduction against additional paid-in capital (“APIC”) as costs are incurred. Any organization costs are expensed as general and administrative costs. From the commencement of the Offering through the termination of the Follow-On Offering (September 27, 2014), the Company incurred approximately $16.3 million in selling commissions and dealer manager fees and $8.5 million of other offering costs and recorded approximately $24.8 million of these costs against APIC.
Accounting for Derivative Financial Investments and Hedging Activities	Accounting for Derivative Financial Investments and Hedging Activities.
	The Company may enter into derivative financial instrument transactions in order to mitigate interest rate risk on a related financial instrument. The Company may designate these derivative financial instruments as hedges and apply hedge accounting. The Company will record all derivative instruments at fair value on the consolidated balance sheet.
	Derivative instruments designated in a hedge relationship to mitigate exposure to variability in expected future cash flows, or other types of forecasted transactions, will be considered cash flow hedges. The Company will formally document all relationships between hedging instruments and hedged items, as well as our risk- management objective and strategy for undertaking each hedge transaction. The Company will periodically review the effectiveness of each hedging transaction, which involves estimating future cash flows. Cash flow hedges will be accounted for by recording the fair value of the derivative instrument on the consolidated balance sheet as either an asset or liability, with a corresponding amount recorded in accumulated other comprehensive income (loss) within stockholders' equity. Amounts will be reclassified from other comprehensive income (loss) to the consolidated statement of operations in the period or periods the hedged forecasted transaction affects earnings. Derivative instruments designated in a hedge relationship to mitigate exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, will be considered fair value hedges. The effective portion of the derivatives gain or loss is initially reported as a component of other comprehensive income and subsequently reclassified into earnings when the transaction affects earnings. The ineffective portion of the gain or loss is reported in earnings immediately.
Stock-Based Compensation	Stock-Based Compensation
	The Company has an Employee and Director Incentive Restricted Share Plan. Awards, if any, will be granted at the fair market value on the date of the grant with fair value estimated using the Black-Scholes-Merton option valuation model, which incorporates assumptions surrounding the volatility, dividend yield, the risk-free interest rate, expected life, and the exercise price as compared to the underlying stock price on the grant date. As stock-based compensation expense recognized in the consolidated statements of operations will be based on awards ultimately expected to vest, the amount of expense will be reduced for forfeitures estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. Forfeitures will be estimated based on historical experience. The tax benefits associated with these share-based payments will be classified as financing activities in the consolidated statement of cash flows. The Company has not granted any stock-based incentive awards.
Concentration of Risk	Concentration of Risk
	The Company maintains its cash in bank deposit accounts, which, at times, may exceed U.S. federally insured limits. The Company has not experienced any losses in such accounts. The Company believes it is not exposed to any significant credit risk on cash and cash equivalents.
Basic and Diluted Net Earnings per Common Share	Basic and Diluted Net Earnings per Common Share
	The Company had no potentially dilutive securities outstanding during the periods presented. Accordingly, earnings per share is calculated by dividing net income attributable to common shareholders by the weighted-average number of shares of common stock outstanding during the applicable period.
New Accounting Pronouncements	New Accounting Pronouncements
	In April 2014, the Financial Accounting Standards Board ("FASB") issued an accounting standards update providing new guidance on the requirements for reporting a discontinued operation. The update changes the criteria for determining which disposals can be presented as discontinued operations and modifies related disclosure requirements. This update is effective for fiscal years beginning on or after December 15, 2014, and interim periods within those years. Early adoption is permitted, but only for disposals (or classifications as held for sale) that have not been reported in the financial statements previously issued or available for issuance.  The adoption of this standards update affects presentation only and, as such, will not have a material impact on the Company's consolidated financial statements.
	In May 2014, the FASB issued an accounting standards update that completes the joint effort by the FASB and International Accounting Standards Board to improve financial reporting by creating common revenue recognition guidance for GAAP and International Financial Reporting Standards. The update applies to all companies that enter into contracts with customers to transfer goods or services and is effective for us for interim and annual reporting periods beginning after December 15, 2016. Early application is not permitted and companies have the choice to apply the update either retrospectively to each reporting period presented or by recognizing the cumulative effect of applying the update at the date of initial application (January 1, 2017) and not adjusting comparative information. The Company is currently evaluating the requirements and impact of this update on its consolidated financial statements.
Reclassifications	Reclassifications
	Certain prior period amounts may have been reclassified to conform to the current year presentation.

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2014
Summary of Significant Accounting Policies [Abstract]
Summary of Supplemental Cash Flow Information	Supplemental disclosure of cash flow information:	Year Ended December 31,
		2014		2013		2011
	Cash paid for interest	$	1,255	$	939	$	413
	Distributions declared	$	8,194	$	4,050	$	3,268
	Noncash commissions and other offering costs in accounts payable and other accrued expenses	$	126	$	193	$	254
	Subscription receivable	$	55	$	25	$	(104	)
	Value of shares issued from distribution reinvestment program	$	3,258	$	1,791	$	1,458
	Issuance of units in exchange for investment in unconsolidated affiliated entities	$	-	$	-	$	911
	Restricted escrow deposits and related liability initially established related to Note receivable received in connection	$	-	$	-	$	2,400
	with disposition of investment in unconsolidated affiliated entity
	Satisfaction of promissory note	$	-	$	-	$	7,029
Summary of Estimated Fair Value of Debt		As of December 31, 2014				As of December 31, 2013
	(Dollars in thousands)	Carrying Amount		Estimated Fair		Carrying Amount			Estimated Fair
				Value					Value
	Mortgages payable	$	23,761	$	23,548	$	24,260		$	23,898

Acquisitions_Tables

Acquisitions (Tables)	12 Months Ended
	Dec. 31, 2014
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Schedule of Revenue and Net Income Included in Consolidated Statements of Operations			For the Years Ended December 31,
			2014		2013		2012
	Rental revenue		$	20,069	$	9,858	$	2,151
	Net income(1)(2)(3)		$	3,126	$	503	$	6,933
	Note:
		-1	Includes the $7.9 million bargain purchase gain recorded in the year ended December 31, 2012 in connection with the acquisitions of the SpringHill Suites - Peabody and the Fairfield Inn – East Rutherford.
		-2	Includes the approximately $1.3 million bargain purchase gain recorded in the year ended December 31, 2013 in connection with the acquisition of the Arkansas Hotel Portfolio.
		-3	Includes the approximately $2.8 million bargain purchase gain recorded in the year ended December 31, 2014 in connection with the acquisition of the Philadelpia Hotel Portfolio.
Schedule of Unaudited Pro Forma Results of Operations			For the Years Ended December 31,
			2014		2013		2012
	Pro forma rental revenue		$	38,203	$	32,141	$	30,706
	Pro forma net income/(loss) per Company's common share (4)(5)(6)		$	4,326	$	1,219	$	1,589
	Pro forma net income/(loss) per Company's common share, basic and diluted(4)(5)(6)		$	0.34	$	0.2	$	0.32
	Note:
		-4	Excludes $7.9 million bargain purchase gain recorded in the year ended December 31, 2012 in connection with the acquisitions of the SpringHill Suites - Peabody and the Fairfield Inn – East Rutherford.
		-5	Excludes the approximately $1.3 million bargain purchase gain recorded in the year ended December 31, 2013 in connection with the acquisition of the Arkansas Hotel Portfolio.
		-6	Excludes the approximately $2.8 million bargain purchase gain recorded in the year ended December 31, 2014 in connection with the acquisition of the Philadelpia Hotel Portfolio.

Investments_in_Unconsolidated_1

Investments in Unconsolidated Affiliated Entities (Tables)	12 Months Ended
	Dec. 31, 2014
Schedule of Equity Method Investments [Line Items]
Summary of Investments in Unconsolidated Entities									As of
	Entity		Date of Ownership		Ownership %				31-Dec-14				31-Dec-13
	Brownmill LLC ("Brownmill")		Various			48.58	%		$	3,504			$	3,834
Brownmill, LLC [Member]
Schedule of Equity Method Investments [Line Items]
Unaudited Condensed Income Statements of Affiliated Entities			For the Year				For the Year				For the Year
			Ended December				Ended December				Ended December
			31, 2014				31, 2013				31, 2012
	Revenue		$	3,600			$	3,551			$	3,682
	Property operating expenses			1,458				1,377				1,361
	Depreciation and amortization			842				840				862
	Operating income			1,300				1,334				1,459
	Interest expense and other, net			(1,094	)			(1,151	)			(1,179	)
	Net income		$	206			$	183			$	280
	Company's share of net income		$	100			$	89			$	122
	Additional depreciation and amortization expense (1)			(211	)			(259	)			(283	)
	Company's loss from investment		$	(111	)		$	(170	)		$	(161	)
		1	Additional depreciation and amortization expense relates to the amortization of the difference between the cost of the interest in Brownmill and the amount of the underlying equity in net assets of Brownmill.
Unaudited Condensed Balance Sheets of Affiliated Entities			As of				As of
			December 31, 2014				December 31, 2013
	Real estate, at cost (net)		$	15,493			$	16,039
	Cash and restricted cash			664				1,530
	Other assets			2,096				1,363
	Total assets		$	18,253			$	18,932
	Mortgage payable		$	20,217			$	20,700
	Other liabilities			636				588
	Members' deficiency			(2,600	)			(2,356	)
	Total liabilities and members' deficiency		$	18,253			$	18,932

Marketable_Securities_and_Fair1

Marketable Securities and Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2014
Marketable Securities and Fair Value Measurements [Abstract]
Summary of Available for Sale Securities		As of December 31, 2014
		Adjusted Cost		Gross Unrealized Gains		Gross Unrealized			Fair Value
						Losses
	Equity Securities	$	17,928	$	408	$	(156	)	$	18,180
		As of December 31, 2013
		Adjusted Cost		Gross Unrealized Gains		Gross Unrealized					Fair Value
						Losses
	Equity Securities	$	7,735	$	399	$					$	8,134

Mortgages_Payable_Tables

Mortgages Payable (Tables)	12 Months Ended
	Dec. 31, 2014
Mortgages Payable [Abstract]
Schedule of Mortgages Payable														Loan Amount Outstanding
	Description	Interest Rate			Weighted			Maturity		Amount Due				As of				As of
					Average			Date		at Maturity				December 31,				December 31,
					Interest Rate									2014				2013
					as of December
					31, 2014
	Promissory Note, secured by four properties		4.94	%		4.94	%	Aug-18		$	21,754				23,761				24,260
						4.94	%							$	23,761			$	24,260
Schedule of Estimated Contractual Principal Maturities		2015			2016			2017				2018				2019				Thereafter		Total
	Principal maturities	$	524		$	548		$	580			$	22,109			$	-			$	-	$	23,761

Selling_Commission_Dealer_Mana1

Selling Commission, Dealer Manager Fees and Other Offering Costs (Tables)	12 Months Ended
	Dec. 31, 2014
Selling Commission Dealer Manager Fees And Other Offering Costs [Abstract]
Summary of Selling Commissions, Dealer Manager Fees and Other Offering Costs		For the Years Ended December 31,
		2014		2013		2012
	Selling commissions and dealer manager fees	$	8,934	$	2,023	$	715
	Other offering costs	$	611	$	1,937	$	1,495

Related_Party_Transactions_Tab

Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2014
Related Party Transactions [Abstract]
Schedule of Fees to Related Parties		For the Years Ended December 31,
		2014		2013		2012
	Acquisition fees	$	547	$	102	$	85
	Asset management fees		-		114		346
	Development fees		140		78		-
	Total	$	687	$	294	$	431

Quarterly_Financial_Data_Table

Quarterly Financial Data (Tables)	12 Months Ended
	Dec. 31, 2014
Quarterly Financial Data [Abstract]
Schedule of Quarterly Financial Data			2014
			Year ended			Quarter ended			Quarter ended			Quarter ended			Quarter ended
			December 31,			December 31,			September 30,			June 30,			March 31,
	Total revenue		$	23,566		$	7,289		$	6,601		$	6,408		$	3,268
	Operating income/(loss)		$	1,668		$	88		$	834		$	895		$	(149	)
	Net income /(loss) (a)		$	4,540		$	2,807		$	855		$	845		$	33
	Less (income)/loss attributable to noncontrolling interests			(68	)		(9	)		(23	)		(31	)		(5	)
	Net income/(loss) applicable to Company's common shares		$	4,472		$	2,798		$	832		$	814		$	28
	Net income/(loss) per common share, basic and diluted		$	0.35		$	0.15		$	0.06		$	0.08		$	-
		a)	Net income for the year ended December 31, 2014 includes a bargain purchase gain of $2.8 million in the 4th quarter of 2014 in connection with the purchase of the Philadelphia Airport Hotel Portfolio. (See Note 3)
			2013
			Year ended			Quarter ended			Quarter ended			Quarter ended			Quarter ended
			December 31,			December 31,			September 30,			June 30,			March 31,
	Total revenue		$	13,058		$	3,335		$	4,092		$	3,308		$	2,323
	Operating income/(loss)		$	541		$	26		$	490		$	314		$	(289	)
	Net income /(loss) (a)		$	1,370		$	(238	)	$	202		$	1,535		$	(129	)
	Less (income)/loss attributable to noncontrolling interests			(40	)		16			(1	)		(66	)		11
	Net income/(loss) applicable to Company's common shares		$	1,330		$	(222	)	$	201		$	1,469		$	(118	)
	Net income/(loss) per common share, basic and diluted		$	0.21		$	(0.03	)	$	0.03		$	0.25		$	(0.02	)
		b)	Net income for the year ended December 31, 2013 includes a bargain purchase gain of $1.2 million in the 2nd quarter of 2013 in connection with the purchase of the Arkansas Hotel Portfolio. (See Note 3)

Organization_Details

Organization (Details) (USD $)	1 Months Ended	12 Months Ended			60 Months Ended	66 Months Ended	12 Months Ended		36 Months Ended	79 Months Ended	1 Months Ended		25 Months Ended	40 Months Ended
	20-May-08	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Sep. 27, 2014	Sep. 27, 2014	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2012	Dec. 31, 2014	Sep. 27, 2012	Apr. 24, 2009	Sep. 27, 2014	Aug. 15, 2012	Mar. 30, 2012	Sep. 30, 2009
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Date of incorporation		28-Apr-08
Lightstone REIT, partnership formation date		30-Apr-08
Common stock, shares authorized		100,000,000	100,000,000							100,000,000
Common stock authorized and reserved for issuance under plan												75,000			75,000
Proceeds from offering		$104,592,000	$21,966,000	$7,152,000
Subscription receivable		80,000	25,000							80,000						6,500,000
Gross proceeds from issuance of equity					177,300,000
Selling commissions and dealer manager fees		8,934,000	2,023,000	715,000		16,300,000
General partner ownership interest		99.00%			99.00%
Advisor's contribution to operating partnership	2,000
Partnership unit issued	200
Brownmill, LLC [Member]
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Subordinated general partner participation, per unit cost									$100,000
Sponsor's cash contribution										12,900,000
Ownership interest		48.58%								48.58%
Value of ownership interest		4,800,000								4,800,000
Subordinate profit interest units		177		9			6	33	48	177
Aggregate value of subordinate profits		17,700,000		900,000			600,000	3,300,000	4,800,000	17,700,000
for each $1.0 million in subscriptions up to ten percent of its primary offering proceeds on a semi-annual basis [Member]
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Subordinate General Partner Unit Value				1,000,000
Subordinated general partner participation, per unit cost				$100,000
Percentage of subscriptions				10.00%
Advisory Services [Member]
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Stock issued during period, per share	$10
Stock issued during period for services, shares	20,000
Stock issued during period for services, value	200,000
Public Offering [Member]
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Common stock, price per share											$10	$10
Shares reserved for issuance											30,000,000
Initial Public Offering Starting Date		24-Apr-09
Initial public offer expiration date		15-Aug-12
Proceeds from offering, shares													12,900,000	5,000,000
Proceeds from offering													127,500,000
Gross proceeds from issuance of equity														49,800,000
Selling commissions and dealer manager fees													11,000,000	5,200,000
Payment for organization and other offering expenses													4,000,000	4,500,000
Net proceeds from issuance initial public offering													112,500,000	40,100,000
Public Offering [Member] | Maximum [Member]
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Shares reserved for issuance												51,000,000
Distribution Reinvestment Plan [Member]
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Common stock, price per share											$9.50
Shares reserved for issuance		5,900,000								5,900,000	2,500,000	6,500,000
Proceeds from offering, shares														300,000
Proceeds form issuance of equity, share-based compensation plan														$2,900,000
Restricted Share Award [Member]
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Common stock authorized and reserved for issuance under plan											255,000	255,000

Summary_of_Significant_Account3

Summary of Significant Accounting Policies (Narrative) (Details) (USD $)	12 Months Ended			60 Months Ended	66 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Sep. 27, 2014	Sep. 27, 2014
Summary of Significant Accounting Policies [Abstract]
Percentage general partnership interest in common units operating partnership	99.00%			99.00%
Income Tax Examination [Line Items]
REIT annual distribution, percent of taxable income	90.00%
Mortgages payable-Carrying Amount	$23,761,000	$24,260,000
Mortgages payable-Estimated Fair Value	23,548,000	23,898,000
Selling commissions and dealer manager fees	8,934,000	2,023,000	715,000		16,300,000
Other offering costs	611,000	1,937,000	1,495,000		8,500,000
Aggregate offering costs					$24,800,000
U.S. federal [Member] | 2010 [Member]
Income Tax Examination [Line Items]
Tax Year under examinations	2010

Summary_of_Significant_Account4

Summary of Significant Accounting Policies (Summary of Supplemental Cash Flow Information) (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Summary of Significant Accounting Policies [Abstract]
Cash paid for interest	$1,255	$939	$413
Distributions declared	8,194	4,050	3,268
Noncash commissions and other offering costs in accounts payable and other accrued expenses	126	193	254
Subscription receivable	55	25	-104
Value of shares issued from distribution reinvestment program	3,258	1,791	1,458
Issuance of units in exchange for investment in unconsolidated affiliated entities			911
Note receivable received in connection with disposition of investment in unconsolidated affiliated entity			2,400
Satisfaction of promissory note			$7,029

Acquisitions_Narrative_Details

Acquisitions (Narrative) (Details) (USD $)

12 Months Ended

0 Months Ended

3 Months Ended

1 Months Ended

3 Months Ended

1 Months Ended

0 Months Ended

3 Months Ended

1 Months Ended

3 Months Ended

12 Months Ended

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Apr. 02, 2014

Apr. 08, 2014

Oct. 02, 2014

Dec. 17, 2014

Dec. 31, 2014

Jun. 18, 2013

Jun. 30, 2013

Jul. 31, 2013

Jun. 30, 2013

Jul. 13, 2012

Sep. 30, 2012

Jun. 29, 2010

Dec. 31, 2012

Dec. 31, 2011

Business Combination, Separately Recognized Transactions [Line Items]

Acquisition fees received by the advisor as percentage of acquisition price

0.95%

0.95%

Bargain purchase gain

$2,790,000

$1,263,000

$7,857,000

Carrying value of investment

3,504,000

3,834,000

3,504,000

Holiday Inn - Opelika [Member]

Business Combination, Separately Recognized Transactions [Line Items]

Cash consideration paid

6,900,000

Acquisition fees received by the advisor as percentage of acquisition price

0.95%

Acquisition fees received by the advisor

66,000

Purchase price allocation, land and improvements

1,000,000

Purchase price allocation, building and improvements

5,300,000

Purchase price allocation, furnitures and fixtures

600,000

Asset capitalization rate

9.80%

Aloft - Tucson [Member]

Business Combination, Separately Recognized Transactions [Line Items]

Cash consideration paid

19,000,000

Acquisition fees received by the advisor as percentage of acquisition price

0.95%

Acquisition fees received by the advisor

181,000

Purchase price allocation, land and improvements

1,900,000

Purchase price allocation, building and improvements

14,700,000

Purchase price allocation, furnitures and fixtures

2,400,000

Asset capitalization rate

8.80%

Hampton Inn - Fort Myers Beach [Member]

Business Combination, Separately Recognized Transactions [Line Items]

Cash consideration paid

9,400,000

Acquisition fees received by the advisor as percentage of acquisition price

0.95%

Acquisition fees received by the advisor

100,000

Purchase price allocation, land and improvements

3,000,000

Purchase price allocation, building and improvements

5,100,000

Purchase price allocation, furnitures and fixtures

1,300,000

Asset capitalization rate

8.50%

Philadelphia Airport Hotel Portfolio [Member]

Business Combination, Separately Recognized Transactions [Line Items]

Cash consideration paid

22,600,000

Contingent consideration

300,000

Acquisition fees received by the advisor as percentage of acquisition price

0.95%

Acquisition fees received by the advisor

200,000

Fair value of assets acquired

25,400,000

Purchase price allocation, land and improvements

7,900,000

Purchase price allocation, building and improvements

15,500,000

Purchase price allocation, furnitures and fixtures

2,000,000

Bargain purchase gain

2,800,000

Asset capitalization rate

8.00%

Aloft Philadelphia Airport Hotel Philadelphia, PA [Member]

Business Combination, Separately Recognized Transactions [Line Items]

Bargain purchase gain

2,800,000

Arkansas Hotel Portfolio [Member]

Business Combination, Separately Recognized Transactions [Line Items]

Cash consideration paid

3,700,000

Acquisition fees received by the advisor

102,000

Fair value of assets acquired

11,900,000

Purchase price allocation, land and improvements

1,500,000

Purchase price allocation, building and improvements

8,500,000

Purchase price allocation, furnitures and fixtures

1,900,000

Bargain purchase gain

1,200,000

Asset capitalization rate

10.60%

Business acquisition, percentage of voting interests acquired

95.00%

Total purchase consideration

10,700,000

Acquisition fees received by the advisor as percentage of acquisition price

0.95%

Arkansas Hotel Portfolio [Member] | Demand Note [Member]

Business Combination, Separately Recognized Transactions [Line Items]

Debt instrument, face amount

7,000,000

Interest rate, Libor plus

4.95%

Payments of demand note

4,000,000

3,000,000

Four Hotel Properties [Member]

Business Combination, Separately Recognized Transactions [Line Items]

Total purchase consideration

29,100,000

SpringHill Suites Hotel [Member]

Business Combination, Separately Recognized Transactions [Line Items]

Acquisition fees received by the advisor

85,000

Fair value of assets acquired

13,600,000

Purchase price allocation, land and improvements

2,800,000

Purchase price allocation, building and improvements

9,000,000

Purchase price allocation, furnitures and fixtures

1,000,000

Bargain purchase gain

3,500,000

Asset capitalization rate

10.50%

Total purchase consideration

10,100,000

Acquisition fees received by the advisor as percentage of acquisition price

0.95%

Equity issuance, closing and other transaction costs

200,000

Management agreement period

1 year

Monthly base management fees

3.00%

Possible additional one-year extensions

1

Advance termination written notice period before anniversary date

60 days

Centralized accounting fees

3,000

Management incentive fee, as a percent of the gross operating income over established threshold

15.00%

Management incentive cap, as a percent of total annual revenues

2.00%

FF&E reserve, included in restricted escrows

800,000

Franchise agreement period

20 years

Purchase price allocation early termination fees

1,200,000

Proceeds from mortgage loan

5,300,000

FFI Hotel [Member]

Business Combination, Separately Recognized Transactions [Line Items]

Fair value of assets acquired

11,700,000

Purchase price allocation, land and improvements

2,500,000

2,500,000

Purchase price allocation, building and improvements

8,400,000

8,400,000

Purchase price allocation, furnitures and fixtures

800,000

800,000

Bargain purchase gain

4,300,000

Asset capitalization rate

8.00%

8.00%

Total purchase consideration

7,400,000

Percent of outstanding common units acquired

82.60%

FFI Hotel [Member] | Non Recourse Loans [Member]

Business Combination, Separately Recognized Transactions [Line Items]

Debt instrument, face amount

18,700,000

Mortgage loan receivable, net

7,900,000

Carrying value of investment

7,000,000

7,000,000

Excess cash applied to principal

100,000

Interest income

800,000

1,000,000

TPSLR, LLC and TPSFN, LLC [Member] | Arkansas Hotel Portfolio [Member]

Business Combination, Separately Recognized Transactions [Line Items]

Noncontrolling interest, ownership percentage by noncontrolling owners

5.00%

LVP East Rutherford [Member]

Business Combination, Separately Recognized Transactions [Line Items]

Percent of outstanding common units acquired

5.10%

Percent of outstanding common units held

87.70%

87.70%

Payments for acquisition of common units

100,000

LVP East Rutherford [Member] | FFI Hotel [Member]

Business Combination, Separately Recognized Transactions [Line Items]

Percent of outstanding common units acquired

17.40%

LVP East Rutherford Promissory Note [Member]

Business Combination, Separately Recognized Transactions [Line Items]

Debt instrument, face amount

6,300,000

Maturity date

6-Jan-21

Debt instrument, stated interest rate

9.00%

Debt amortization period

30 years

Acquisitions_Amounts_of_Revenu

Acquisitions (Amounts of Revenue and Net Income Included in Consolidated Statements of Operations) (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014		Dec. 31, 2013		Dec. 31, 2012
Business Acquisition [Line Items]
Rental revenue	$20,069		$9,858		$2,151
Net income	$3,126	[1],[2],[3]	$503	[1],[2],[3]	$6,933	[1],[2],[3]
[1]	Includes the $7.9 million bargain purchase gain recorded in the year ended December 31, 2012 in connection with the acquisitions of the SpringHill Suites - Peabody and the Fairfield Inn b East Rutherford.
[2]	Includes the approximately $1.3 million bargain purchase gain recorded in the year ended December 31, 2013 in connection with the acquisition of the Arkansas Hotel Portfolio.
[3]	Includes the approximately $2.8 million bargain purchase gain recorded in the year ended December 31, 2014 in connection with the acquisition of the Philadelpia Hotel Portfolio.

Acquisitions_Unaudited_Pro_For

Acquisitions (Unaudited Pro Forma Results of Operations) (Details) (USD $)	12 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2014		Dec. 31, 2013		Dec. 31, 2012
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Pro forma rental revenue	$38,203		$32,141		$30,706
Pro forma net income/(loss) per Company's common share	$4,326	[1],[2],[3]	$1,219	[1],[2],[3]	$1,589	[1],[2],[3]
Pro forma net income/(loss) per Company's common share, basic and diluted	$0.34	[1],[2],[3]	$0.20	[1],[2],[3]	$0.32	[1],[2],[3]
[1]	Excludes $7.9 million bargain purchase gain recorded in the year ended December 31, 2012 in connection with the acquisitions of the SpringHill Suites - Peabody and the Fairfield Inn b East Rutherford.
[2]	Excludes the approximately $1.3 million bargain purchase gain recorded in the year ended December 31, 2013 in connection with the acquisition of the Arkansas Hotel Portfolio.
[3]	Excludes the approximately $2.8 million bargain purchase gain recorded in the year ended December 31, 2014 in connection with the acquisition of the Philadelpia Hotel Portfolio.

Investments_in_Unconsolidated_2

Investments in Unconsolidated Affiliated Entities (Company's Investments in Unconsolidated Affiliated Entities) (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated affiliated entities	$3,504	$3,834
Brownmill, LLC [Member]
Schedule of Equity Method Investments [Line Items]
Date of Acquisition	Various
Ownership interest	48.58%
Investments in unconsolidated affiliated entities	$3,504	$3,834

Investments_in_Unconsolidated_3

Investments in Unconsolidated Affiliated Entities (Narrative) (Details) (USD $)	12 Months Ended					36 Months Ended	79 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2012	Dec. 31, 2014
Brownmill, LLC [Member]
Schedule of Equity Method Investments [Line Items]
Equity investment, percentage ownership purchased			8.60%	5.60%	34.40%	48.60%
Ownership interest	48.58%						48.58%
Subordinate profit interest units	177		9	6	33	48	177
Subordinated general partner participation, per unit cost						$100,000
Aggregate value of subordinate profits	$17,700,000		$900,000	$600,000	$3,300,000	$4,800,000	$17,700,000
Distribution to members	450,000	150,000	300,000
Distribution Received from real estate partnership	219,000	73,000	135,000
Net income	206,000	183,000	280,000
Company's income/(loss) from investment	-111,000	-170,000	-161,000
Brownmill, LLC [Member] | Estimate of Fair Value, Fair Value Disclosure [Member]
Schedule of Equity Method Investments [Line Items]
Capital contributions	15,500,000
Brownmill, LLC [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Equity [Member]
Schedule of Equity Method Investments [Line Items]
Capital contributions	4,800,000
Brownmill, LLC [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | Mortgages [Member]
Schedule of Equity Method Investments [Line Items]
Capital contributions	10,700,000
LVP Rego Park, LLC [Member]
Schedule of Equity Method Investments [Line Items]
Ownership interest	10.00%						10.00%
Net income		1,722,000	3,198,000
Company's income/(loss) from investment		$156,000	$320,000
LVP Rego Park, LLC [Member] | Lightstone REIT I [Member]
Schedule of Equity Method Investments [Line Items]
Ownership interest	90.00%						90.00%

Investments_in_Unconsolidated_4

Investments in Unconsolidated Affiliated Entities (Unaudited Condensed Income Statement) (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014		Dec. 31, 2013		Dec. 31, 2012
Schedule of Equity Method Investments [Line Items]
Company's share of net income	($111)		($14)		$159
Brownmill, LLC [Member]
Schedule of Equity Method Investments [Line Items]
Revenue	3,600		3,551		3,682
Property operating expenses	1,458		1,377		1,361
Depreciation and amortization	842		840		862
Operating income	1,300		1,334		1,459
Interest expense and other, net	-1,094		-1,151		-1,179
Net income	206		183		280
Company's share of net income	100		89		122
Additional depreciation and amortization expense	-211	[1]	-259	[1]	-283	[1]
Company's loss from investment	($111)		($170)		($161)
[1]	Additional depreciation and amortization expense relates to the amortization of the difference between the cost of the interest in Brownmill and the amount of the underlying equity in net assets of Brownmill.

Investments_in_Unconsolidated_5

Investments in Unconsolidated Affiliated Entities (Unaudited Condensed Balance Sheet) (Details) (Brownmill, LLC [Member], USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Equity method investment, assets	$18,253	$18,932
Members' deficiency	-2,600	-2,356
Total liabilities and members' deficiency	18,253	18,932
Real estate, at cost (net) [Member]
Equity method investment, assets	15,493	16,039
Cash and restricted cash [Member]
Equity method investment, assets	664	1,530
Other assets [Member]
Equity method investment, assets	2,096	1,363
Mortgage payable [Member]
Equity method investment, liabilities	20,217	20,700
Other liabilities [Member]
Equity method investment, liabilities	$636	$588

Marketable_Securities_and_Fair2

Marketable Securities and Fair Value Measurements (Summary of Available for Sale Securities) (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Schedule of Available-for-sale Securities [Line Items]
Fair Value	$18,180	$8,134
Equity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	17,928	7,735
Gross Unrealized Gains	408	399
Gross Unrealized Losses	-156
Fair Value	$18,180	$8,134

Marketable_Securities_and_Fair3

Marketable Securities and Fair Value Measurements (Narrative) (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Debt Instrument [Line Items]
Interest expense	$1,325	$1,035	$535
Margin Loan [Member]
Debt Instrument [Line Items]
Interest rate, Libor plus	0.85%
Libor	1.00%
Interest expense	$52	$24	$34

Mortgages_Payable_Schedule_of_

Mortgages Payable (Schedule of Mortgages Payable) (Details) (USD $)	1 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Jul. 29, 2013	Dec. 31, 2014	Dec. 31, 2013
Debt Instrument [Line Items]
Weighted average interest rate		4.94%
Loan amount outstanding		$23,761	$24,260
Promissory Note, secured by four properties [Member]
Debt Instrument [Line Items]
Interest rate	4.94%
Weighted average interest rate		4.94%
Maturity date	6-Aug-18	6-Aug-18
Amount due at maturity		21,754
Loan amount outstanding		$23,761	$24,260

Mortgages_Payable_Narrative_De

Mortgages Payable (Narrative) (Details) (USD $)	1 Months Ended	12 Months Ended
	Jul. 29, 2013	Dec. 31, 2014	Dec. 31, 2013
Debt Instrument [Line Items]
Restricted escrows		$988,000	$2,294,000
Promissory Note, secured by four properties [Member]
Debt Instrument [Line Items]
Debt instrument, face amount	24,400,000
Debt instrument, borrowing period	5 years
Maturity date	6-Aug-18	6-Aug-18
Interest rate	4.94%
Monthly payments	142,000
Restricted escrows		$1,000,000

Mortgages_Payable_Contractual_

Mortgages Payable (Contractual Principal Maturities) (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Mortgages Payable [Abstract]
2015	$524
2016	548
2017	580
2018	22,109
2019
Thereafter
Total	$23,761	$24,260

Selling_Commission_Dealer_Mana2

Selling Commission, Dealer Manager Fees and Other Offering Costs (Details) (USD $)	12 Months Ended			66 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Sep. 27, 2014
Selling Commission Dealer Manager Fees And Other Offering Costs [Abstract]
Selling commissions and dealer manager fees	$8,934	$2,023	$715	$16,300
Other offering costs	$611	$1,937	$1,495	$8,500

Stockholders_Equity_Details

Stockholder's Equity (Details) (USD $)	1 Months Ended	12 Months Ended			0 Months Ended
	Mar. 30, 2009	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Mar. 27, 2015	Mar. 30, 2012	Apr. 24, 2009
Stockholders Equity Note [Line Items]
REIT annual distribution, percent of taxable income		90.00%
Minimum number of shares issued in offering required to trigger distribution payments	500,000
Distribution on per day basis	$0.00
Number of days used to calculate daily amount of distribution	365 days
Annualized rate of dividend	6.50%
Share price	$10
Distributions declared		8,194,000	4,050,000	3,268,000
Common stock authorized and reserved for issuance under plan						75,000	75,000
Subsequent Event [Member]
Stockholders Equity Note [Line Items]
Distribution on per day basis					$0.00
Number of days used to calculate daily amount of distribution					365 days
Annualized rate of dividend					6.50%
Share price					$10

Noncontrolling_Interests_Detai

Noncontrolling Interests (Details) (USD $)	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Noncontrolling Interest [Line Items]
Limited partner units issued	200	200
Lightstone SLP II, LLC [Member]
Noncontrolling Interest [Line Items]
Subordinated profits interests units	177	64
LVP Metairie JV, LLC [Member]
Noncontrolling Interest [Line Items]
Cumulative distribution paid	$131	$175	$306

Related_Party_Transactions_Agr

Related Party Transactions (Agreements) (Details) (USD $)	12 Months Ended				36 Months Ended	79 Months Ended
In Millions, except Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2012	Dec. 31, 2014
Related Party Transaction [Line Items]
Acquisition fees received by the advisor as percentage of acquisition price	0.95%					0.95%
Maximum percentage of gross revenues allocated to management fees for residential, hospitality and retail properties	5.00%					5.00%
Maximum percentage of gross revenues allocated to management fees for office and industrial properties	4.50%					4.50%
Percentage of average invested assets allocated to asset management fees	0.95%					0.95%
Asset management fees, payout terms	payable quarterly in an amount equal to 0.2375 of 1% of average invested assets as of the last day of the immediately preceding quarter
Minimum percentage of other operating expenses required to be reimbursed	2.00%					2.00%
Minimum percentage of net income required to be reimbursed	25.00%					25.00%
Lightstone SLP II, LLC [Member]
Related Party Transaction [Line Items]
Proceeds from subordinated profit interest sold	$12.90
Brownmill, LLC [Member]
Related Party Transaction [Line Items]
Ownership interest	48.58%					48.58%
Value of ownership interest	4.8					4.8
Subordinate profit interest units	177	9	6	33	48	177
Aggregate value of subordinate profits	17.7	0.9	0.6	3.3	4.8	17.7
Selling Commission [Member]
Related Party Transaction [Line Items]
Maximum percentage of gross offering proceeds paid to the dealer manager.	7.00%					7.00%
Fees and commissions						11.2
Dealer Management Fee [Member]
Related Party Transaction [Line Items]
Maximum percentage of gross offering proceeds paid to the dealer manager.	3.00%					3.00%
Fees and commissions						$5.10

Related_Party_Transactions_Nar

Related Party Transactions (Narrative) (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Related Party Transaction [Line Items]
Percentage of average invested assets allocated to asset management fees	0.95%
Asset management fees waived	$800,000	$400,000
Payments for agency fees	$44,000	$106,000	$32,000
Brownmill, LLC [Member]
Related Party Transaction [Line Items]
Ownership interest	48.58%
Lightstone SLP II, LLC [Member]
Related Party Transaction [Line Items]
Distributions, annualized rate of return	7.00%

Related_Party_Transactions_Dis

Related Party Transactions (Distributions) (Details) (USD $)	Mar. 30, 2009	Dec. 31, 2014
Related Party Transaction [Line Items]
Share price	$10
Operating Stage Distribution, 7% Stockholder Return Threshold [Member]
Related Party Transaction [Line Items]
Stockholders' return threshold, percent		7.00%
Distribution due, cumulative rate of return		7.00%
Share price		$10
Operating Stage Distribution, 12% Stockholder Return Threshold [Member]
Related Party Transaction [Line Items]
Stockholders' return threshold, percent		7.00%
Distribution due, cumulative rate of return		12.00%
Operating Stage Distribution, 12% Stockholder Return Threshold [Member] | Stockholder [Member]
Related Party Transaction [Line Items]
Percent of additional distributions payable to related party		70.00%
Operating Stage Distribution, 12% Stockholder Return Threshold [Member] | Lightstone SLP II, LLC [Member]
Related Party Transaction [Line Items]
Percent of additional distributions payable to related party		30.00%
Operating Stage Distribution, In Excess of 12% Stockholder Returns Threshold [Member]
Related Party Transaction [Line Items]
Stockholders' return threshold, percent		7.00%
Operating Stage Distribution, In Excess of 12% Stockholder Returns Threshold [Member] | Stockholder [Member]
Related Party Transaction [Line Items]
Percent of additional distributions payable to related party		60.00%
Operating Stage Distribution, In Excess of 12% Stockholder Returns Threshold [Member] | Lightstone SLP II, LLC [Member]
Related Party Transaction [Line Items]
Percent of additional distributions payable to related party		40.00%

Related_Party_Transactions_Amo

Related Party Transactions (Amount Recorded in Pursuant to Related Party Arrangment) (Details) (Related Party [Member], USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Related Party [Member]
Related Party Transaction [Line Items]
Acquisition fees	$547	$102	$85
Asset management fees		114	346
Development fees	140	78
Total	$687	$294	$431

Commitments_and_Contingencies_

Commitments and Contingencies (Details) (USD $)	0 Months Ended
	Jan. 31, 2012	Nov. 21, 2012
	item
Commitments and Contingencies [Abstract]
Potential damages		$164
Number of claims filed	2

Quarterly_Financial_Data_Detai

Quarterly Financial Data (Details) (USD $)	3 Months Ended																12 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2014		Sep. 30, 2014		Jun. 30, 2014		Mar. 31, 2014		Dec. 31, 2013		Sep. 30, 2013		Jun. 30, 2013		Mar. 31, 2013		Dec. 31, 2014		Dec. 31, 2013		Dec. 31, 2012
Quarterly Financial Information [Line Items]
Total revenue	$7,289		$6,601		$6,408		$3,268		$3,335		$4,092		$3,308		$2,323		$23,566		$13,058		$5,942
Operating income/(loss)	88		834		895		-149		26		490		314		-289		1,668		541		-114
Net income /(loss)	2,807	[1]	855	[1]	845	[1]	33	[1]	-238	[2]	202	[2]	1,535	[2]	-129	[2]	4,540	[1]	1,370	[2]	9,764
Less (income)/loss attributable to noncontrolling interest	-9		-23		-31		-5		16		-1		-66		11		-68		-40		-555
Net income/(loss) applicable to Company's common shares	2,798		832		814		28		-222		201		1,469		-118		4,472		1,330		9,209
Net income/(loss) per common share, basic and diluted	$0.15		$0.06		$0.08				($0.03)		$0.03		$0.25		($0.02)		$0.35		$0.21		$1.84
Bargain purchase gain																	2,790		1,263		7,857
Arkansas Hotel Portfolio [Member]
Quarterly Financial Information [Line Items]
Bargain purchase gain													1,200
Philadelphia Airport Hotel [Member]
Quarterly Financial Information [Line Items]
Bargain purchase gain	$2,800
[1]	Net income for the year ended December 31, 2014 includes a bargain purchase gain of $2.8 million in the 4th quarter of 2014 in connection with the purchase of the Philadelphia Airport Hotel Portfolio. (See Note 3)
[2]	Net income for the year ended December 31, 2013 includes a bargain purchase gain of $1.2 million in the 2nd quarter of 2013 in connection with the purchase of the Arkansas Hotel Portfolio. (See Note 3)

Subsequent_Events_Details

Subsequent Events (Details) (USD $)	1 Months Ended	0 Months Ended
	Mar. 30, 2009	Jul. 13, 2012	Mar. 27, 2015	Feb. 11, 2015	Jan. 19, 2015	Jan. 29, 2015	Feb. 04, 2015	Dec. 31, 2014
					item
Subsequent Event [Line Items]
Debt amount by which limited service hotels encumbered								$67,200,000
Distribution on per day basis	0.001780822
Number of days used to calculate daily amount of distribution	365 days
Annualized rate of dividend	6.50%
Share price	$10
SpringHill Suites by Marriott located in West Des Moines, Iowa [Member]
Subsequent Event [Line Items]
Purchase consideration		10,100,000
Subsequent Event [Member]
Subsequent Event [Line Items]
Number of service hotels approved for acquisition					11
Purchase consideration					122,400,000
Membership percentage in joint venture by Company						97.50%
Number of wholly owned subsidiaries						2
Cash paid				11,900,000
Distribution on per day basis			0.001780822
Number of days used to calculate daily amount of distribution			365 days
Annualized rate of dividend			6.50%
Share price			$10
Subsequent Event [Member] | Courtyard-Parsippany [Member]
Subsequent Event [Line Items]
Variable interest rate basis				Libor
Interest rate margin				3.50%
Debt assumed				7,800,000
Subsequent Event [Member] | Residence Inn - Baton Rouge [Member]
Subsequent Event [Line Items]
Debt assumed				3,800,000
Interest rate				5.36%
Subsequent Event [Member] | Revolving Credit Facility
Subsequent Event [Line Items]
Variable interest rate basis						Libor
Interest rate margin						4.95%
Interest rate						5.20%
Term of credit facility						3 years
Amount allowed for borrowings as percentage of loan to value ratio of properties						65.00%
Initial loan received						35,000,000
Remaining borrowing capacity available						25,000,000
Subsequent Event [Member] | Joint venture [Member]
Subsequent Event [Line Items]
Debt assumed				11,200,000
Cash paid				12,200,000
Number of limited service hotels acquired				7
Subsequent Event [Member] | Joint venture [Member] | Hotel Portfolio [Member]
Subsequent Event [Line Items]
Purchase consideration						64,600,000
Number of separate contribution agreements						5
Number of limited service hotels						5
Subsequent Event [Member] | Joint venture [Member] | Courtyard by Marriott located in Willoughby, Ohio [Member]
Subsequent Event [Line Items]
Number of rooms in limited service hotels						90
Subsequent Event [Member] | Joint venture [Member] | Fairfield Inn & Suites by Marriott located in West Des Moines, Iowa [Member]
Subsequent Event [Line Items]
Number of rooms in limited service hotels						102
Subsequent Event [Member] | Joint venture [Member] | SpringHill Suites by Marriott located in West Des Moines, Iowa [Member]
Subsequent Event [Line Items]
Number of suites in limited service hotels						97
Subsequent Event [Member] | Joint venture [Member] | Hampton Inn located in Miami, Florida [Member]
Subsequent Event [Line Items]
Number of rooms in limited service hotels						126
Subsequent Event [Member] | Joint venture [Member] | Hampton Inn & Suites located in Fort Lauderdale, Florida [Member]
Subsequent Event [Line Items]
Number of rooms in limited service hotels						104
Subsequent Event [Member] | Joint venture [Member] | Courtyard-Parsippany [Member]
Subsequent Event [Line Items]
Business acquisition, percentage of voting interests acquired				100.00%
Subsequent Event [Member] | Joint venture [Member] | Residence Inn - Baton Rouge [Member]
Subsequent Event [Line Items]
Business acquisition, percentage of voting interests acquired				90.00%
Subsequent Event [Member] | Lightstone I [Member]
Subsequent Event [Line Items]
Membership percentage in joint venture by other party						2.50%
Cash paid				300,000
Subsequent Event [Member] | GE Capital [Member] | Revolving Credit Facility
Subsequent Event [Line Items]
Amount of credit facility						60,000,000
Number of options to extend term by other party						2 years
Period for which options to extend term by other party						1 year
Subsequent Event [Member] | Lightstone III [Member] | Revolving Promissory Note [Member]
Subsequent Event [Line Items]
Variable interest rate basis							three-month Libor
Term of credit facility							1 year
Debt assumed							10,000,000
Interest rate							6.00%
Origination fee							$100,000

Schedule_III_Real_Estate_and_A1

Schedule III Real Estate and Accumulated Depreciation (Schedule of Real Estate and Accumulated Depreciatoin) (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Initial Cost
Encumbrance	$23,761
Land	22,647
Buildings and Improvements	86,727
Net Costs Capitalized & Impairments Subsequent to Acquisition	11,416
Gross amount at which carried at end of period
Land and Improvements	22,726
Buildings and Improvements	98,064
Total	120,790	56,757	37,336	12,514
Accumulated Depreciation	-6,111	-2,670	-850	-293
TownePlace Suites Hotel Harahan, LA [Member]
Initial Cost
Encumbrance	9,244
Land	1,800
Buildings and Improvements	10,484
Net Costs Capitalized & Impairments Subsequent to Acquisition	1,896
Gross amount at which carried at end of period
Land and Improvements	1,800
Buildings and Improvements	12,380
Total	14,180
Accumulated Depreciation	-1,573
Date Acquired	19-Jan-11
SpringHill Suites Hotel Peabody, MA [Member]
Initial Cost
Encumbrance	7,930
Land	2,126
Buildings and Improvements	10,624
Net Costs Capitalized & Impairments Subsequent to Acquisition	2,786
Gross amount at which carried at end of period
Land and Improvements	2,168
Buildings and Improvements	13,368
Total	15,536
Accumulated Depreciation	-1,876
Date Acquired	13-Jul-12
Fairfield Inn East Rutherford, NJ [Member]
Initial Cost
Encumbrance
Land	2,945
Buildings and Improvements	8,743
Net Costs Capitalized & Impairments Subsequent to Acquisition	5,240
Gross amount at which carried at end of period
Land and Improvements	2,973
Buildings and Improvements	13,955
Total	16,928
Accumulated Depreciation	-1,059
Date Acquired	31-Dec-12
TownePlace Suites Hotel Johnson, AR [Member]
Initial Cost
Encumbrance	2,919
Land	990
Buildings and Improvements	4,710
Net Costs Capitalized & Impairments Subsequent to Acquisition	549
Gross amount at which carried at end of period
Land and Improvements	990
Buildings and Improvements	5,259
Total	6,249
Accumulated Depreciation	-388
Date Acquired	18-Jun-13
TownePlace Suites Hotel Little Rock, AR [Member]
Initial Cost
Encumbrance	3,668
Land	1,037
Buildings and Improvements	5,220
Net Costs Capitalized & Impairments Subsequent to Acquisition	908
Gross amount at which carried at end of period
Land and Improvements	1,046
Buildings and Improvements	6,119
Total	7,165
Accumulated Depreciation	-406
Date Acquired	18-Jun-13
Holiday Inn Express Hotel Opelika, AL [Member]
Initial Cost
Encumbrance
Land	999
Buildings and Improvements	5,871
Net Costs Capitalized & Impairments Subsequent to Acquisition
Gross amount at which carried at end of period
Land and Improvements	999
Buildings and Improvements	5,871
Total	6,870
Accumulated Depreciation	-172
Date Acquired	1-Apr-14
Aloft Tucson University Hotel Tucson, AZ [Member]
Initial Cost
Encumbrance
Land	1,860
Buildings and Improvements	17,140
Net Costs Capitalized & Impairments Subsequent to Acquisition	24
Gross amount at which carried at end of period
Land and Improvements	1,860
Buildings and Improvements	17,164
Total	19,024
Accumulated Depreciation	-554
Date Acquired	8-Apr-14
Hampton Inn Hotel Ft. Myers Beach, FL [Member]
Initial Cost
Encumbrance
Land	3,028
Buildings and Improvements	6,397
Net Costs Capitalized & Impairments Subsequent to Acquisition	5
Gross amount at which carried at end of period
Land and Improvements	3,028
Buildings and Improvements	6,402
Total	9,430
Accumulated Depreciation	-83
Date Acquired	2-Oct-14
Aloft Philadelphia Airport Hotel Philadelphia, PA [Member]
Initial Cost
Encumbrance
Land	2,595
Buildings and Improvements	11,805
Net Costs Capitalized & Impairments Subsequent to Acquisition	8
Gross amount at which carried at end of period
Land and Improvements	2,595
Buildings and Improvements	11,813
Total	14,408
Accumulated Depreciation
Date Acquired	17-Dec-14
Four Points by Sheraton Hotel Philadelphia, PA [Member]
Initial Cost
Encumbrance
Land	3,267
Buildings and Improvements	5,733
Net Costs Capitalized & Impairments Subsequent to Acquisition
Gross amount at which carried at end of period
Land and Improvements	3,267
Buildings and Improvements	5,733
Total	9,000
Accumulated Depreciation
Date Acquired	17-Dec-14
Vacant Lot Philadelphia, PA [Member]
Initial Cost
Encumbrance
Land	2,000
Buildings and Improvements
Net Costs Capitalized & Impairments Subsequent to Acquisition
Gross amount at which carried at end of period
Land and Improvements	2,000
Buildings and Improvements
Total	2,000
Accumulated Depreciation
Date Acquired	17-Dec-14

Schedule_III_Real_Estate_and_A2

Schedule III Real Estate and Accumulated Depreciation (Reconciliation of Total Real Estate Owned) (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Schedule III Real Estate and Accumulated Depreciation [Abstract]
Balance at beginning of year	$56,757	$37,336	$12,514
Acquisitions, at cost	57,905	10,694	16,581
Acquisitions, bargain purchase gain	2,790	1,263	7,857
Improvements	3,338	7,464	384
Balance at end of year	$120,790	$56,757	$37,336

Schedule_III_Real_Estate_and_A3

Schedule III Real Estate and Accumulated Depreciation (Reconciliation of Accumulated Depreciation) (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Schedule III Real Estate and Accumulated Depreciation [Abstract]
Balance at beginning of year	$2,670	$850	$293
Depreciation expense	3,441	1,820	557
Balance at end of year	$6,111	$2,670	$850

Schedule_III_Real_Estate_and_A4

Schedule III Real Estate and Accumulated Depreciation (Summary of Estimated Useful Lives) (Details)	12 Months Ended
	Dec. 31, 2014
Buildings and improvements [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	15 years
Buildings and improvements [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	39 years
Tenant improvements and equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years
Tenant improvements and equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	10 years