Lightstone Value Plus REIT II (LVPR) 10-Q 13 May 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	10-May-15
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	31-Mar-15
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	2015
Document Fiscal Period Focus	Q1
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		18.6

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Investment property:
Land and improvements	$37,880	$22,726
Building and improvements	143,871	80,392
Furniture and fixtures	28,228	17,223
Construction in progress	270	449
Gross investment property	210,249	120,790
Less accumulated depreciation	-7,858	-6,111
Net investment property	202,391	114,679
Investments in unconsolidated affiliated entity	3,460	3,504
Cash and cash equivalents	16,811	67,502
Marketable securities, available for sale	17,889	18,180
Restricted escrows and deposits	5,270	988
Note receivable from affiliate	7,000
Prepaid expenses and other assets	6,789	2,840
Total Assets	259,610	207,693
Liabilities and Stockholders' Equity
Accounts payable and other accrued expenses	6,363	2,868
Margin loan	5,501	5,815
Mortgages payable	70,146	23,761
Due to sponsor	233	199
Distributions payable	2,988	3,028
Total liabilities	85,231	35,671
Commitments and contingencies (Note 10)
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, 18,671 and 18,493 shares issued and outstanding in 2015 and 2014, respectively	187	185
Additional paid-in-capital	160,028	158,330
Subscription receivable		-80
Accumulated other comprehensive (loss)/income	-39	252
Accumulated deficit	-6,676	-5,503
Total Company stockholders' equity	153,500	153,184
Noncontrolling interests	20,879	18,838
Total Stockholders' Equity	174,379	172,022
Total Liabilities and Stockholders' Equity	$259,610	$207,693

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Mar. 31, 2015	Dec. 31, 2014
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	18,671	18,493
Common stock, shares outstanding	18,671	18,493

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]
Rental revenue	$14,791	$3,268
Expenses:
Property operating expenses	9,173	2,296
Real estate taxes	543	86
General and administrative costs	1,301	471
Depreciation and amortization	1,749	564
Total operating expenses	12,766	3,417
Operating income/(loss)	2,025	-149
Interest and dividend income	421	444
Interest expense	-782	-321
Other income, net	218	95
Loss from investments in unconsolidated affiliated entities	-44	-36
Net income	1,838	33
Less: net income attributable to noncontrolling interests	-23	-5
Net income applicable to Company's common shares	$1,815	$28
Net income per Company's common share, basic and diluted	$0.10	$0
Weighted average number of common shares outstanding, basic and diluted	18,645	8,258

CONSOLIDATED_STATEMENTS_OF_COM

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]
Net income	$1,838	$33
Other comprehensive (loss)/income:
Unrealized (loss)/gain on available for sale securities	-291	20
Comprehensive income	1,547	53
Less: Comprehensive income attributable to noncontrolling interests	-23	-5
Comprehensive income attributable to the Company's common shares	$1,524	$48

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 Deficit [Member]	Total Noncontrolling Interests [Member]
In Thousands
BALANCE at Dec. 31, 2014	$172,022	$185	$158,330	($80)	$252	($5,503)	$18,838
BALANCE, shares at Dec. 31, 2014		18,493
Net income	1,838					1,815	23
Other comprehensive loss	-291				-291
Distributions declared	-2,988					-2,988
Distributions paid to noncontrolling interests	-28						-28
Contributions from noncontrolling interests	2,046						2,046
Proceeds from offering	80			80
Other offering costs	10		10
Redemption and cancellation of shares	-33		-33
Redemption and cancellation of shares, shares		-3
Shares issued from distribution reinvestment program	1,723	2	1,721
Shares issued from distribution reinvestment program, shares		181
BALANCE at Mar. 31, 2015	$174,379	$187	$160,028		($39)	($6,676)	$20,879
BALANCE, shares at Mar. 31, 2015		18,671

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$1,838	$33
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	1,749	564
Amortization of deferred financing costs	79	18
Gain on sale of marketable securities		-112
Loss from investments in unconsolidated affiliated entities	44	36
Other non-cash adjustments	17
Changes in assets and liabilities:
Increase in prepaid expenses and other assets	-1,251	-395
Increase in accounts payable and other accrued expenses	2,073	219
Increase/(decrease) in due to sponsor	34	-113
Net cash provided by operating activities	4,583	250
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of investment property, net	-79,722	-1,366
Purchase of marketable securities		-19,774
Proceeds from sale of marektable securities		9,692
Issuance of note receivable from affiliate	-8,200
Receipt of payments from note receivable from affiliate	1,200
Funding of restricted escrows and deposits	-2,136	-3,802
Net cash used in investing activities	-88,858	-15,250
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from mortgage financings	35,000
Payment on mortgages payable	-154	-126
Payment of loan fees and expenses	-1,141
Payment on margin loan	-314	-156
Proceeds from issuance of common stock	80	12,495
Payment of commissions and offering costs	-116	-1,545
Redemption and cancellation of common shares	-33	-306
Contribution of noncontrolling interests	1,595	800
Distributions to noncontrolling interests	-28	-11
Distributions to common stockholders	-1,305	-595
Net cash provided by financing activities	33,584	10,556
Net change in cash and cash equivalents	-50,691	-4,444
Cash and cash equivalents, beginning of year	67,502	26,520
Cash and cash equivalents, end of period	$16,811	$22,076

Organization

Organization	3 Months Ended
	Mar. 31, 2015
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 located principally in North America, as well as other real estate-related securities, such as collateralized debt obligations, commercial mortgage-backed securities and mortgage and mezzanine loans secured, directly or indirectly, by the same types of properties which it may acquire directly.
	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.
	The Company's sponsor is David Lichtenstein (“Lichtenstein”), who does business as The Lightstone Group (the “Sponsor”) and majority owns the limited liability company of that name. The Company's advisor is Lightstone Value Plus REIT II LLC (the “Advisor”), which is wholly owned by our Sponsor. Subject to the oversight of the Company's board of directors (the “Board of Directors”), the Advisor has primary responsibility for making investment decisions and managing the Company's day-to-day operations. Through his ownership and control of The Lightstone Group, Mr. Lichtenstein is the indirect owner of the Advisor and the indirect owner and manager of Lightstone SLP II LLC, which has subordinated profits interests in the Operating Partnership. Mr. Lichtenstein also acts as the Company's Chairman and Chief Executive Officer. As a result, he exerts influence over but does not control Lightstone REIT II or the Operating Partnership.
	The Company's registration statement on Form S-11, pursuant to which it offered to sell up to 51,000,000 shares of its common stock at a price of $10.00 per share, subject to certain volume discounts, (exclusive of 6,500,000 shares which were available pursuant to its distribution reinvestment plan (the “DRIP”) at an initial purchase price of $9.50 per share and 255,000 shares which were reserved for issuance under its Employee and Director Incentive Restricted Share Plan), was declared effective by the Securities and Exchange Commission (the “SEC”) under the Securities Act of 1933 on February 17, 2009, and on April 24, 2009 the Company commenced its initial public offering of common stock (the “Offering”). 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 is offering 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.
	Our DRIP Registration Statement on Form S-3D was filed and became effective under the Securities Act of 1933 on September 26, 2014. 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.
	As of March 31, 2015, 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 September 27, 2014 (the termination date of the Follow-On Offering), cumulative gross offering proceeds of $177.3 million were released to the Company. The Company invested the proceeds received from the Offering and from the Advisor in the Operating Partnership, and as a result, held a 99% general partnership interest as of March 31, 2015 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 Interests
	The noncontrolling interests consist of (i) parties of the Company that hold units in the Operating Partnership and (ii) certain interests in the Joint Venture, LVP Metairie JV LLC, LVP East Rutherford LLC, LVP TPS Little Rock Holdings LLC, LVP TPS Fayetteville Holdings LLC and LVP RI Baton Rouge Holdings LLC which are not owned by the Company.
	Partners of Operating Partnership
	On May 20, 2008, the Advisor contributed $2 to the Operating Partnership in exchange for 200 limited partner units in the Operating Partnership. The limited partner has the right to convert operating partnership units into cash or, at the option of the Company, an equal number of common shares of the Company, as allowed by the limited partnership agreement.
	Lightstone SLP II LLC, which is wholly owned by the Company's Sponsor committed to purchase subordinated profits interests in the 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 the Follow-On Offering on a semi-annual basis beginning with the quarter ended June 30, 2010. Lightstone SLP II LLC had the option to purchase the Subordinated Profits Interests with either cash or an interest in real property of equivalent value.
	From our inception through March 31, 2015, the Company's Sponsor has made cash contributions of $12.9 million and elected to contribute equity interests totaling 48.6% in Brownmill, LLC (“Brownmill”), which were valued at $4.8 million, in exchange for a total of 177.0 Subordinated Profits Interests with an aggregate value of $17.7 million.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2015
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 its Operating Partnership and its subsidiaries (over which the Company exercises financial and operating control). As of March 31, 2015, the Lightstone REIT II had a 99% general partnership interest in the common units of the Operating Partnership. All inter-company balances and transactions have been eliminated in consolidation.
	The accompanying unaudited interim consolidated financial statements and related notes should be read in conjunction with the audited Consolidated Financial Statements of the Company and related notes as contained in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2014. The unaudited interim financial statements include all adjustments (consisting only of normal recurring adjustments) and accruals necessary in the judgment of management for a fair statement of the results for the periods presented. The accompanying unaudited consolidated financial statements of the Lightstone Value Plus Real Estate Investment Trust II, Inc. and its Subsidiaries have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q and Rule 8-03 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements.
	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, depreciable lives, 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.
	The unaudited consolidated statements of operations for interim periods are not necessarily indicative of results for the full year or any other period.
	Supplemental disclosure of cash flow information
			Three Months Ended March 31,
			2015		2014
	Cash paid for interest		$	495	$	304
	Distributions declared		$	2,988	$	1,323
	Commissions and other offering costs accrued but not paid		$	-	$	200
	Subscription receivable		$	-	$	78
	Value of shares issued from distribution reinvestment program		$	1,723	$	577
	Debt assumed for acquisition		$	11,539	$	-
	Non controlling interest assumed for acquisition		$	451	$	-
	Reclassifications
	Certain prior period amounts may have been reclassified to conform to the current year presentation.
	New Accounting Pronouncements
	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.
	In April 2015, the FASB issued an accounting standards update to simplify the presentation of debt issuance costs. This update requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. This new guidance will be effective for the Company beginning January 1, 2016. The Company is currently evaluating the impact of this standard on our consolidated financial statements

Acquisitions

Acquisitions	3 Months Ended
	Mar. 31, 2015
Acquisitions [Abstract]
Acquisitions		3	Acquisitions
	On January 19, 2015, the Company's Board of Directors provided approval for the Company to form a joint venture (the “Joint Venture”) with 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, and for the Joint Venture to acquire Lightstone I's membership interest in up to 11 limited service hotels (the “LVP REIT Hotels”) for an aggregate of approximately $122.4 million, plus closing and other third party transaction costs, with the acquisition of certain of the properties contingent upon obtaining existing lender approvals. As of December 31, 2014, the 11 limited service hotels were encumbered by an aggregate of approximately $67.2 million in debt.
	On January 29, 2015 the Company through the 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, less adjustments excluding transaction costs. In connection with the acquisition of the Hotel Portfolio, the Joint Venture, through subsidiaries, paid approximately $39.9 million, excluding transaction costs from cash contributed by the Joint Venture members based upon their respective ownership percentages (the Company $38.9 million and Lightstone I $1.0 million.) The Company's contribution was funded with offering proceeds from the sale of the Company's common stock. The remaining $24.7 million was funded with the proceeds from a Revolving Credit Facility (see below). 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; and
		•	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 (the “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 two other hotels owned by the Company through a wholly owned subsidiary 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 a 121-room limited service hotel which operates as a Courtyard by Marriott (the “Courtyard – Parsippany”) located in Parsippany, New Jersey and a 90% membership interest in a 108-room limited service hotel which operates as a Residence Inn by Marriott (the “Residence Inn - Baton Rouge”) located in Baton Rouge, Louisiana. In connection with the acquisition of the Courtyard – Parsippany and the Residence Inn - Baton Rouge, the Joint Venture, through subsidiaries, assumed approximately $11.6 million of debt and paid approximately $12.2 million less adjustments, excluding transaction costs 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 $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 Courtyard – Parsippany and the Residence Inn - Baton Rouge represent 2 of the 11 limited service hotels that the Company's Board of Directors previously approved to be acquired by the Joint Venture. Through March 31, 2015, the Company, through the Joint Venture, has acquired membership interests in 7 of the 11 limited service hotels previously approved for acquisition and is awaiting approval from the holders of the debt cross-collateralized by the final 4 of the 11 limited service hotels ((i) an 82-room, Holiday Inn Express Hotel & Suites (the “Holiday Inn Express - Auburn”) located in Auburn, Alabama, (ii) an 83-room limited service hotel which operates as a Fairfield Inn & Suites by Marriott, located in Jonesboro, Arkansas (the Fairfield Inn – Jonesboro”) and (iii) a 130-room select service hotel which operates as a Starwood Hotel Group Aloft Hotel, located in Rogers, Arkansas (the “Aloft – Rogers”, and collectively, the “Arkansas Hotel Portfolio”) and (iv) an 121-room limited service hotel which operates as a Courtyard by Marriott (the “Courtyard - Baton Rouge”) located in Baton Rouge, Louisiana) in order for the Joint Venture to assume the existing debt and complete the sale of the final 4 of the 11 limited service hotels (Holiday Inn Express – Auburn, the Arkansas Hotel Portfolio and the Courtyard - Baton Rouge).
	The aggregate purchase price for the Hotel Portfolio, the Courtyard – Parsippany and the Residence Inn - Baton Rouge was approximately $88.7 million (including approximately $0.3 million which represents the 10% minority interest in the Residence Inn - Baton Rouge). 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 acquisitions of the Hotel Portfolio, the Courtyard – Parsippany and the Residence Inn - Baton Rouge were 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 acquisitions of the Hotel Portfolio, the Courtyard – Parsippany and the Residence Inn - Baton Rouge has been allocated to the assets acquired based upon their preliminary fair values as of the dates of the acquisition. Approximately $15.1 million was allocated to land and improvements, $62.9 million was allocated to building and improvements, and $10.7 million was allocated to furniture and fixtures and other assets.
	The aggregate capitalization rate for the Hotel Portfolio, the Courtyard – Parsippany and the Residence Inn - Baton Rouge 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 net operating income for the year ended December 31, 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.
	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 Holiday Inn – Opelika (acquired April 1, 2014), the Aloft – Tucson (acquired April 8, 2014), the Hampton Inn — Ft. Myers(acquired October 1, 2014), the Aloft – Philadelphia and the Four Points by Sheraton - Philadelphia (collectively, the “Philadelphia Airport Hotels”) (both acquired December 22, 2014), the Hotel Portfolio (acquired January 29, 2015) and the Courtyard – Parsippany and the Residence Inn - Baton Rouge (both acquired February 11, 2015) since their respective dates of acquisition for the periods indicated:
			For the Three Months
			Ended
			31-Mar-15
	Rental revenue		$	11,081
	Net income		$	2,246
	The following table provides unaudited pro forma results of operations for the periods indicated, as if the Holiday Inn – Opelika, the Aloft – Tucson, the Hampton Inn — Ft. Myers, the Philadelphia Airport Hotels, the Hotel Portfolio and the Courtyard – Parsippany and the Residence Inn - Baton Rouge 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 above, nor are they indicative of the future operating results of the combined company.
			For the Three Months Ended March 31,
			2015		2014
	Pro forma rental revenue		$	17,051	$	15,022
	Pro forma net income		$	2,087	$	2,187
	Pro forma net income per Company's common share, basic and diluted		$	0.11	$	0.26

Marketable_Securities_Margin_L

Marketable Securities, Margin Loan and Fair Value Measurements	3 Months Ended
	Mar. 31, 2015
Marketable Securities, Margin Loan and Fair Value Measurements [Abstract]
Marketable Securities, Margin Loan and Fair Value Measurements		4	Marketable Securities, Margin Loan 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 March 31, 2015
			Adjusted Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	Equity Securities		$	17,928	$	345	$	(384	)	$	17,889
			As of December 31, 2014
			Adjusted Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	Equity Securities		$	17,928	$	408	$	(156	)	$	18,180
	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% (1.03% as of March 31, 2015).
	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 March 31, 2015 and December 31, 2014, 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 March 31, 2015 and December 31, 2014, all of the Company's equity securities and were classified as Level 1 assets and there were no transfers between the level classifications during the three months ended March 31, 2015.

Note_Receivable_from_Affiliate

Note Receivable from Affiliate	3 Months Ended
	Mar. 31, 2015
Note Receivable from Affiliate [Abstract]
Note Receivable from Affiliate		5	Note Receivable from Affiliate
	On February 4, 2015, the Company entered into a revolving promissory note (the “Note Receivable from Affiliate”) of up to $10.0 million with Lightstone Value Plus Real Estate Investment Trust III, Inc. (“Lightstone III”), a real estate investment trust also sponsored by the Company's sponsor.
	The Note Receivable from Affiliate has a term of one year, bears interest at a floating rate of three-month Libor plus 6.0% (6.3% as of March 31, 2015) and requires quarterly interest payments through its stated maturity with the entire unpaid balance due upon maturity. Lightstone III paid the Company an origination fee of $100,000 in connection with the Note Receivable from Affiliate and pledged its ownership interest in a 120-room select service hotel located in Des Moines, Iowa (the “Hampton Inn – Des Moines”) as collateral for the Note Receivable from Affiliate.

Mortgages_payable

Mortgages payable	3 Months Ended
	Mar. 31, 2015
Mortgages payable [Abstract]
Mortgages payable		6	Mortgages payable
	Mortgages payable consisted of the following:
												Loan Amount Outstanding
	Description		Interest Rate		Weighted Average Interest Rate as of March 31, 2015				Maturity Date	Amount Due at Maturity		As of		As of
												March 31,		December 31,
												2015		2014
	Promissory Note, secured by four properties		4.94	%		4.94	%		Aug-18	$	21,754		23,628		23,761
	Revolving Credit Facility, secured by seven properties		LIBOR+4.95	%		5.22	%		Jan-18		35,000		35,000		-
	Courtyard - Parsippany		LIBOR+3.50	%		3.67	%		Aug-18		7,126		7,741		-
	Residence Inn - Baton Rouge		5.36	%		5.36	%		November 2018		3,480		3,777		-
						4.96	%			$	67,360	$	70,146	$	23,761
	Courtyard-Parsippany
	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.
	Residence Inn - Baton Rouge
	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.
	Revolving Credit Facility
	On January 29, 2015, the Company, through two wholly owned subsidiaries, entered into the Revolving Credit Facility with GE Capital. The Revolving Credit Facility bears interest at Libor plus 4.95% 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, the Holiday Inn - Opelika and the Aloft - Tucson through a wholly owned subsidiary and $25.0 million remained available under the Revolving Credit Facility.
	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 March 31, 2015:
			2015				2016			2017		2018		2019		Thereafter		Total
	Principal maturities		$	578			$	809		$	855	$	67,904	$	-	$	-	$	70,146
	Debt Compliance
	Pursuant to the Company's debt agreements, approximately $3.3 million and $1.0 million was held in restricted escrow accounts as of March 31, 2015 and 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 and fixed leverage charge ratio. The Company is currently in compliance with respect to all of its debt covenants.

Equity

Equity	3 Months Ended
	Mar. 31, 2015
Equity [Abstract]
Equity		7	Equity
	Earnings per 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.

Related_Party_Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2015
Related Party Transactions [Abstract]
Related Party Transactions		8	Related Party Transactions
	The Company has agreements with the Advisor and Lightstone Value Plus REIT Management LLC (the “Property Manager”) to pay certain fees 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 Manager 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 indicated:
			For the Three Months Ended March 31,
			2015		2014
	Asset Management Fees		$	383	$	-
	Development Fees		$	-	$	140
	Total		$	383	$	140
	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 $0.1 million were waived by the Advisor during three months ended March 31, 2014.

Financial_Instruments

Financial Instruments	3 Months Ended
	Mar. 31, 2015
Financial Instruments [Abstract]
Financial Instruments		9	Financial Instruments
	The carrying amounts reported in the consolidated balance sheets for cash and cash equivalents, restricted escrows and deposits, accounts receivable (included in other assets), note receivable from affiliate, accounts payable and accrued expenses and the margin loan approximated their fair values because of the short maturity of these instruments. The estimated fair value of our mortgages payable is as follows:
			As of March 31, 2015				As of December 31, 2014
			Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
	Mortgages payable		$	70,146	$	70,167	$	23,761	$	23,548
	The fair value of our mortgages payable with fixed interest rates were determined by discounting the future contractual interest and principal payments by market interest rates.

Commitments_and_Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2015
Commitments and Contingencies [Abstract]
Commitments and Contingencies		10	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 that 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.

Subsequent_Events

Subsequent Events	3 Months Ended
	Mar. 31, 2015
Subsequent Events [Abstract]
Subsequent Events		11	Subsequent Events
	Distribution Payment
	On April 15, 2015, the total distribution for the three-month period ending March 31, 2015 of approximately $3.0 million was paid from cash flows provided by operations.
	Distribution Declaration
	On May 13, 2015, the Board of Directors authorized and the Company declared a distribution for the three-month period ending June 30, 2015. The distribution will be calculated based on shareholders of record each day during this three-month period at a rate of $0.00178082191 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 July 15, 2015 to shareholders of record as of June 30, 2015.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2015
Summary of Significant Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation
	The consolidated financial statements include the accounts of Lightstone REIT II and its Operating Partnership and its subsidiaries (over which the Company exercises financial and operating control). As of March 31, 2015, the Lightstone REIT II had a 99% general partnership interest in the common units of the Operating Partnership. All inter-company balances and transactions have been eliminated in consolidation.
	The accompanying unaudited interim consolidated financial statements and related notes should be read in conjunction with the audited Consolidated Financial Statements of the Company and related notes as contained in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2014. The unaudited interim financial statements include all adjustments (consisting only of normal recurring adjustments) and accruals necessary in the judgment of management for a fair statement of the results for the periods presented. The accompanying unaudited consolidated financial statements of the Lightstone Value Plus Real Estate Investment Trust II, Inc. and its Subsidiaries have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q and Rule 8-03 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements.
	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, depreciable lives, 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.
	The unaudited consolidated statements of operations for interim periods are not necessarily indicative of results for the full year or any other period.
Supplemental disclosure of cash flow information	Supplemental disclosure of cash flow information
		Three Months Ended March 31,
		2015		2014
	Cash paid for interest	$	495	$	304
	Distributions declared	$	2,988	$	1,323
	Commissions and other offering costs accrued but not paid	$	-	$	200
	Subscription receivable	$	-	$	78
	Value of shares issued from distribution reinvestment program	$	1,723	$	577
	Debt assumed for acquisition	$	11,539	$	-
	Non controlling interest assumed for acquisition	$	451	$	-
Reclassifications	Reclassifications
	Certain prior period amounts may have been reclassified to conform to the current year presentation.
New Accounting Pronouncements	New Accounting Pronouncements
	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.
	In April 2015, the FASB issued an accounting standards update to simplify the presentation of debt issuance costs. This update requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. This new guidance will be effective for the Company beginning January 1, 2016. The Company is currently evaluating the impact of this standard on our consolidated financial statements

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2015
Summary of Significant Accounting Policies [Abstract]
Summary of Supplemental Cash Flow Information		Three Months Ended March 31,
		2015		2014
	Cash paid for interest	$	495	$	304
	Distributions declared	$	2,988	$	1,323
	Commissions and other offering costs accrued but not paid	$	-	$	200
	Subscription receivable	$	-	$	78
	Value of shares issued from distribution reinvestment program	$	1,723	$	577
	Debt assumed for acquisition	$	11,539	$	-
	Non controlling interest assumed for acquisition	$	451	$	-
Summary of Estimated Fair Value of Debt		As of March 31, 2015				As of December 31, 2014
		Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
	Mortgages payable	$	70,146	$	70,167	$	23,761	$	23,548

Acquisitions_Tables

Acquisitions (Tables)	3 Months Ended
	Mar. 31, 2015
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Schedule of Revenue and Net Income Included in Consolidated Statements of Operations		For the Three Months
		Ended
		31-Mar-15
	Rental revenue	$	11,081
	Net income	$	2,246
Schedule of Unaudited Pro Forma Results of Operations		For the Three Months Ended March 31,
		2015		2014
	Pro forma rental revenue	$	17,051	$	15,022
	Pro forma net income	$	2,087	$	2,187
	Pro forma net income per Company's common share, basic and diluted	$	0.11	$	0.26

Marketable_Securities_and_Fair

Marketable Securities and Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2015
Marketable Securities, Margin Loan and Fair Value Measurements [Abstract]
Summary of Available for Sale Securities		As of March 31, 2015
		Adjusted Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	Equity Securities	$	17,928	$	345	$	(384	)	$	17,889
		As of December 31, 2014
		Adjusted Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	Equity Securities	$	17,928	$	408	$	(156	)	$	18,180

Mortgages_payable_Tables

Mortgages payable (Tables)	3 Months Ended
	Mar. 31, 2015
Mortgages payable [Abstract]
Schedule of Mortgages Payable											Loan Amount Outstanding
	Description	Interest Rate		Weighted Average Interest Rate as of March 31, 2015				Maturity Date	Amount Due at Maturity		As of		As of
											March 31,		December 31,
											2015		2014
	Promissory Note, secured by four properties	4.94	%		4.94	%		Aug-18	$	21,754		23,628		23,761
	Revolving Credit Facility, secured by seven properties	LIBOR+4.95	%		5.22	%		Jan-18		35,000		35,000		-
	Courtyard - Parsippany	LIBOR+3.50	%		3.67	%		Aug-18		7,126		7,741		-
	Residence Inn - Baton Rouge	5.36	%		5.36	%		November 2018		3,480		3,777		-
					4.96	%			$	67,360	$	70,146	$	23,761
Schedule of Estimated Contractual Principal Maturities		2015				2016			2017		2018		2019		Thereafter		Total
	Principal maturities	$	578			$	809		$	855	$	67,904	$	-	$	-	$	70,146

Related_Party_Transactions_Tab

Related Party Transactions (Tables)	3 Months Ended
	Mar. 31, 2015
Related Party Transactions [Abstract]
Schedule of Fees to Related Parties		For the Three Months Ended March 31,
		2015		2014
	Asset Management Fees	$	383	$	-
	Development Fees	$	-	$	140
	Total	$	383	$	140

Financial_Instruments_Tables

Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2015
Financial Instruments [Abstract]
Summary of Estimated Fair Value of Debt		As of March 31, 2015				As of December 31, 2014
		Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
	Mortgages payable	$	70,146	$	70,167	$	23,761	$	23,548

Organization_Details

Organization (Details) (USD $)	1 Months Ended	3 Months Ended	60 Months Ended	82 Months Ended	12 Months Ended	1 Months Ended		25 Months Ended	40 Months Ended
	20-May-08	Mar. 31, 2015	Sep. 27, 2014	Mar. 31, 2015	Dec. 31, 2012	Sep. 27, 2012	Apr. 24, 2009	Sep. 27, 2014	Aug. 15, 2012	Dec. 31, 2014	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
Proceeds from offering		$80,000
Subscription receivable										80,000	6,500,000
Gross proceeds from issuance of equity			177,300,000
General partner ownership interest		99.00%	99.00%
Advisor's contribution to operating partnership	2,000
Partnership units issued	200
Brownmill, LLC [Member]
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Sponsor's cash contribution				12,900,000
Ownership interest		48.60%		48.60%
Value of ownership interest		4,800,000		4,800,000
Subordinate profit interest units				177
Aggregate value of subordinate profits				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	$9.50
Shares reserved for issuance						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)	3 Months Ended	60 Months Ended
	Mar. 31, 2015	Sep. 27, 2014
Summary of Significant Accounting Policies [Abstract]
Percentage general partnership interest in common units operating partnership	99.00%	99.00%

Summary_of_Significant_Account4

Summary of Significant Accounting Policies (Summary of Supplemental Cash Flow Information) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Summary of Significant Accounting Policies [Abstract]
Cash paid for interest	$495	$304
Distributions declared	2,988	1,323
Commissions and other offering costs accrued but not paid		200
Subscription receivable		78
Value of shares issued from distribution reinvestment program	1,723	577
Debt assumed for acquisition	11,539
Non controlling interest assumed for acquisition	$451

Acquisitions_Narrative_Details

Acquisitions (Narrative) (Details) (USD $)	0 Months Ended		3 Months Ended	0 Months Ended
In Millions, unless otherwise specified	Feb. 11, 2015	Jan. 19, 2015	Mar. 31, 2015	Jan. 29, 2015	Dec. 31, 2014
		item	item
Business Combination, Separately Recognized Transactions [Line Items]
Number of service hotels approved for acquisition		11
Purchase consideration		$122.40
Debt amount by which limited service hotels encumbered					67.2
Membership percentage in joint venture by Company				97.50%
Cash paid	11.9
Courtyard-Parsippany and Residence Inn - Baton Rouge[Member]
Business Combination, Separately Recognized Transactions [Line Items]
Purchase consideration			88.7
Number of limited service hotels			2
Purchase price allocation, land and improvements			15.1
Purchase price allocation, building and improvements			62.9
Purchase price allocation, furnitures and fixtures			10.7
Asset capitalization rate			8.50%
Courtyard-Parsippany [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Variable interest rate basis	Libor
Interest rate, Libor plus	3.50%		3.50%
Debt assumed	7.8		7.8
Maturity Date			31-Aug-18
Residence Inn - Baton Rouge [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Debt assumed	3.8		3.8
Interest Rate	5.36%		5.36%
Amount of noncontrolling interest ownership by noncontrolling owners			0.3
Noncontrolling interest, ownership percentage by noncontrolling owners			10.00%
Maturity Date			30-Nov-18
Revolving Credit Facility
Business Combination, Separately Recognized Transactions [Line Items]
Interest rate				5.20%
Variable interest rate basis			LIBOR	Libor
Interest rate, Libor plus			4.95%	4.95%
Debt instrument, borrowing period				3 years
Amount allowed for borrowings as percentage of loan to value ratio of properties				65.00%
Initial loan received				35
Remaining borrowing capacity available				25
Maturity Date			29-Jan-18
Revolving Credit Facility | Hotel Portfolio [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Initial loan received				24.7
Joint venture [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Cash paid	12.2			38.9
Debt assumed	11.6
Joint venture [Member] | SpringHill Suites by Marriott located in West Des Moines, Iowa [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Number of suites in limited service hotels				97
Joint venture [Member] | Courtyard-Parsippany and Residence Inn - Baton Rouge[Member]
Business Combination, Separately Recognized Transactions [Line Items]
Number of service hotels approved for acquisition			11
Number of limited service hotels			7
Joint venture [Member] | Hotel Portfolio [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Purchase consideration				64.6
Number of separate contribution agreements				5
Number of limited service hotels				5
Cash paid				39.9
Joint venture [Member] | Courtyard by Marriott located in Willoughby, Ohio [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Number of rooms in limited service hotels				90
Joint venture [Member] | Fairfield Inn & Suites by Marriott located in West Des Moines, Iowa [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Number of rooms in limited service hotels				102
Joint venture [Member] | Hampton Inn located in Miami, Florida [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Number of rooms in limited service hotels				126
Joint venture [Member] | Hampton Inn & Suites located in Fort Lauderdale, Florida [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Number of rooms in limited service hotels				104
Joint venture [Member] | Courtyard-Parsippany [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Business acquisition, percentage of voting interests acquired	100.00%
Joint venture [Member] | Residence Inn - Baton Rouge [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Business acquisition, percentage of voting interests acquired	90.00%
Lightstone I [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Cash paid	0.3
Membership percentage in joint venture by other party				2.50%
Lightstone I [Member] | Hotel Portfolio [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Cash paid				1
GE Capital [Member] | Revolving Credit Facility
Business Combination, Separately Recognized Transactions [Line Items]
Amount of credit facility				$60
Period for which options to extend term by other party				1 year
Number of options to extend term by other party				2 years

Acquisitions_Acquisition_infor

Acquisitions (Acquisition information of Lightstone I and Courtyard-Parsippany and Residence Inn - Baton Rouge) (Details)	3 Months Ended
	Mar. 31, 2015	Jan. 19, 2015
	item	item
Business Combination, Separately Recognized Transactions [Line Items]
Number of service hotels approved for acquisition		11
Courtyard-Parsippany and Residence Inn - Baton Rouge[Member]
Business Combination, Separately Recognized Transactions [Line Items]
Number of limited service hotels	2
Number of limited service hotels acquired	4
Holiday Inn - Auburn [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Number of rooms in limited service hotels	82
Fairfield Inn & Suites by Marriott Marriott, located in Jonesboro, Arkansas-Jonesboro[Member]
Business Combination, Separately Recognized Transactions [Line Items]
Number of rooms in limited service hotels	83
Starwood Hotel Group Aloft Hotel Located in Rogers,Arkansas [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Number of rooms in limited service hotels	130
Courtyard - Baton Rouge [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Number of rooms in limited service hotels	121
Arkansas Hotel Portfolio [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Number of limited service hotels acquired	4
Corporate Joint Venture [Member] | Courtyard-Parsippany and Residence Inn - Baton Rouge[Member]
Business Combination, Separately Recognized Transactions [Line Items]
Number of limited service hotels	7
Number of service hotels approved for acquisition	11

Acquisitions_Amounts_of_Revenu

Acquisitions (Amounts of Revenue and Net Income Included in Consolidated Statements of Operations) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015
Business Acquisition [Line Items]
Rental revenue	$11,081
Net income	$2,246

Acquisitions_Unaudited_Pro_For

Acquisitions (Unaudited Pro Forma Results of Operations) (Details) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Pro forma rental revenue	$17,051	$15,022
Pro forma net income	$2,087	$2,187
Pro forma net income per Company's common share, basic and diluted	$0.11	$0.26

Marketable_Securities_Margin_L1

Marketable Securities, Margin Loan and Fair Value Measurements (Summary of Available for Sale Securities) (Details) (USD $)	3 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Fair Value	$17,889	$18,180
Equity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Adjusted Cost	17,928	17,928
Gross Unrealized Gains	345	408
Gross Unrealized Losses	-384	-156
Fair Value	$17,889	$18,180

Marketable_Securities_Margin_L2

Marketable Securities, Margin Loan and Fair Value Measurements (Narrative) (Details) (Margin Loan [Member])	3 Months Ended
	Mar. 31, 2015
Margin Loan [Member]
Debt Instrument [Line Items]
Interest rate, Libor plus	0.85%
Libor	1.03%

Note_Receivable_from_Affiliate1

Note Receivable from Affiliate (Details) (Revolving Promissory Note [Member], Lightstone III [Member], USD $)	0 Months Ended
	Feb. 04, 2015	Mar. 31, 2015
Revolving Promissory Note [Member] | Lightstone III [Member]
Note Receivable from Affiliate [Line Items]
Maximum borrowing capacity	$10,000,000
Variable interest rate basis	three-month Libor
Interest rate margin	6.00%
Interest Rate		6.30%
Origination fee	$100,000,000

Mortgages_payable_Schedule_of_

Mortgages payable (Schedule of Mortgages Payable) (Details) (USD $)	3 Months Ended	0 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Jan. 29, 2015	Feb. 11, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Weighted Average Interest Rate	4.96%
Amount Due at Maturity	$67,360
Loan Amount Outstanding	70,146			23,761
Promissory Note, secured by four properties [Member]
Debt Instrument [Line Items]
Interest Rate	4.94%
Weighted Average Interest Rate	4.94%
Maturity Date	31-Aug-18
Amount Due at Maturity	21,754
Loan Amount Outstanding	23,628			23,761
Revolving Credit Facility, secured by seven properties [Member]
Debt Instrument [Line Items]
Variable interest rate basis	LIBOR	Libor
Interest rate, Libor plus	4.95%	4.95%
Weighted Average Interest Rate	5.22%
Maturity Date	29-Jan-18
Amount Due at Maturity	35,000
Loan Amount Outstanding	35,000
Courtyard-Parsippany [Member]
Debt Instrument [Line Items]
Variable interest rate basis			Libor
Interest rate, Libor plus	3.50%		3.50%
Weighted Average Interest Rate	3.67%
Maturity Date	31-Aug-18
Amount Due at Maturity	7,126
Loan Amount Outstanding	7,741
Residence Inn - Baton Rouge [Member]
Debt Instrument [Line Items]
Interest Rate	5.36%		5.36%
Weighted Average Interest Rate	5.36%
Maturity Date	30-Nov-18
Amount Due at Maturity	3,480
Loan Amount Outstanding	$3,777

Mortgages_payable_Narrative_De

Mortgages payable (Narrative) (Details) (USD $)	0 Months Ended
	Jan. 29, 2015	Mar. 31, 2015	Dec. 31, 2014	Feb. 11, 2015
	item
Debt Instrument [Line Items]
Number of wholly owned subsidiaries	2
Restricted escrows		$5,270,000	$988,000
Courtyard-Parsippany [Member]
Debt Instrument [Line Items]
Debt assumed		7,800,000		7,800,000
Residence Inn - Baton Rouge [Member]
Debt Instrument [Line Items]
Debt assumed		3,800,000		3,800,000
Revolving Credit Facility, secured by seven properties [Member]
Debt Instrument [Line Items]
Number of wholly owned subsidiaries	2
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
Promissory Note, secured by four properties [Member]
Debt Instrument [Line Items]
Restricted escrows		$3,300,000	$1,000,000

Mortgages_payable_Contractual_

Mortgages payable (Contractual Principal Maturities) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Mortgages payable [Abstract]
2015	$578
2016	809
2017	855
2018	67,904
2019
Thereafter
Total	$70,146	$23,761

Related_Party_Transactions_Amo

Related Party Transactions (Amount Recorded in Pursuant to Related Party Arrangment) (Details) (Related Party [Member], USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Related Party [Member]
Related Party Transaction [Line Items]
Asset Management Fees	$383
Development Fees		140
Total	$383	$140

Related_Party_Transactions_Nar

Related Party Transactions (Narrative) (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015
Related Party Transaction [Line Items]
Percentage of average invested assets allocated to asset management fees	0.95%
Asset management fees waived	$0.10

Financial_Instruments_Details

Financial Instruments (Details) (Mortgage payable [Member], USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Mortgage payable [Member]
Debt Instrument [Line Items]
Carrying Amount	$70,146	$23,761
Estimated Fair Value	$70,167	$23,548

Commitments_and_Contingencies_

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

Subsequent_Events_Details

Subsequent Events (Details) (Subsequent Event [Member], USD $)	0 Months Ended
	13-May-15	Apr. 15, 2015
Subsequent Event [Member]
Subsequent Event [Line Items]
Distribution payment		$3,000,000
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