Lightstone Value Plus REIT II (LVPR) 10-K 27 Mar 18 2017 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($) shares in Millions	12 Months Ended
	Dec. 31, 2017	Mar. 01, 2018	Jun. 30, 2017
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	FY
Entity Registrant Name	LIGHTSTONE VALUE PLUS REAL ESTATE INVESTMENT TRUST II INC
Entity Central Index Key	1,436,975
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Public Float			$ 0
Entity Common Stock, Shares Outstanding		18.1

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Investment property:
Land and improvements	$ 40,411	$ 44,137
Building and improvements	214,518	174,234
Furniture and fixtures	36,268	38,827
Construction in progress	329	675
Gross investment property	291,526	257,873
Less accumulated depreciation	(26,982)	(25,430)
Net investment property	264,544	232,443
Investment in unconsolidated affiliated entity	5,140	5,836
Cash and cash equivalents	44,449	43,179
Marketable securities, available for sale	9,778	8,738
Restricted escrows and deposits	5,724	3,488
Accounts receivable and other assets	5,337	4,189
Total Assets	334,972	297,873
Liabilities and Stockholders' Equity
Accounts payable and other accrued expenses	7,790	6,581
Margin loan	6,642	3,854
Mortgages payable, net	143,781	127,140
Due to related party	957	418
Distributions payable	3,211	3,248
Total liabilities	162,381	141,241
Commitments and contingencies (Note 12)
Company's stockholders' equity:
Preferred shares, $0.01 par value, 10,000 shares authorized, none issued and outstanding	0	0
Common stock, $0.01 par value; 100,000 shares authorized, 18,199 and 18,411 shares issued and outstanding in 2017 and 2016, respectively	182	184
Additional paid-in-capital	155,162	157,259
Accumulated other comprehensive loss	(211)	(1,456)
Accumulated surplus/(deficit)	1,771	(19,552)
Total Company stockholders' equity	156,904	136,435
Noncontrolling interests	15,687	20,197
Total Stockholders' Equity	172,591	156,632
Total Liabilities and Stockholders' Equity	$ 334,972	$ 297,873

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2017	Dec. 31, 2016
Preferred shares, par value	$ 0.01	$ 0.01
Preferred shares, shares authorized	100,000	100,000
Preferred shares, shares issued	0	0
Preferred shares, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	100,000	100,000
Common stock, shares issued	18,199	18,411
Common stock, shares outstanding	18,199	18,411

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Rental revenues	$ 73,257	$ 83,421	$ 71,368
Expenses:
Property operating expenses	48,077	52,625	46,052
Real estate taxes	2,835	3,043	2,667
General and administrative costs	5,761	4,667	4,878
Depreciation and amortization	9,867	10,496	8,867
Total operating expenses	66,540	70,831	62,464
Operating income	6,717	12,590	8,904
Interest and dividend income	1,015	1,324	2,082
Loss on sale of marketable securities, available for sale	(638)	(161)	0
Interest expense	(7,308)	(7,887)	(5,664)
Other (expense)/income, net	(47)	269	271
Gain on disposition of real estate and other assets, net	37,465	0	0
Earnings from investment in unconsolidated affiliated entity	212	107	(136)
Net income	37,416	6,242	5,457
Less: net income attributable to noncontrolling interests	(1,156)	(297)	(144)
Net income applicable to Company's common shares	$ 36,260	$ 5,945	$ 5,313
Net income per Company's common share, basic and diluted	$ 1.98	$ 0.32	$ 0.29
Weighted average number of common shares outstanding, basic and diluted	18,295	18,496	18,629

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Net income	$ 37,416	$ 6,242	$ 5,457
Other comprehensive income/(loss):
Holding gain/(loss) on available for sale securities	607	847	(2,716)
Reclassification adjustment for loss included in net income	638	161	0
Other comprehensive income/(loss)	1,245	1,008	(2,716)
Comprehensive income	38,661	7,250	2,741
Less: Comprehensive income attributable to noncontrolling interests	(1,156)	(297)	(144)
Comprehensive income attributable to the Company's common shares	$ 37,505	$ 6,953	$ 2,597

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Subscription Receivable [Member]	Accumulated Other Comprehensive Income/(Loss) [Member]	Accumulated Deficit [Member]	Total Noncontrolling Interests [Member]
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	5,457	$ 0	0	0	0	5,313	144
Other comprehensive income loss	(2,716)	0	0	0	(2,716)	0	0
Distributions declared	(12,339)	0	0	0	0	(12,339)	0
Distributions paid to noncontrolling interests	(641)	0	0	0	0	0	(641)
Contributions from noncontrolling interests	2,284	0	0	0	0	0	2,284
Proceeds from offering	80	0	0	80	0	0	0
Other offering costs	10	0	10	0	0	0	0
Redemption and cancellation of shares	(858)	$ (1)	(857)	0	0	0	0
Redemption and cancellation of shares, shares		(89)
Shares issued from distribution reinvestment program	1,723	$ 2	1,721	0	0	0	0
Shares issued from distribution reinvestment program, shares		182
Acquisition of noncontrolling interest in a subsidiary	(867)	$ 0	(238)	0	0	0	(629)
BALANCE at Dec. 31, 2015	164,155	$ 186	158,966	0	(2,464)	(12,529)	19,996
BALANCE, shares at Dec. 31, 2015		18,586
Net income	6,242	$ 0	0	0	0	5,945	297
Other comprehensive income loss	1,008	0	0	0	1,008	0	0
Distributions declared	(12,968)	0	0	0	0	(12,968)	0
Distributions paid to noncontrolling interests	(106)	0	0	0	0	0	(106)
Contributions from noncontrolling interests	10	0	0	0	0	0	10
Redemption and cancellation of shares	(1,709)	$ (2)	(1,707)	0	0	0	0
Redemption and cancellation of shares, shares		(175)
BALANCE at Dec. 31, 2016	156,632	$ 184	157,259	0	(1,456)	(19,552)	20,197
BALANCE, shares at Dec. 31, 2016		18,411
Net income	37,416	$ 0	0	0	0	36,260	1,156
Other comprehensive income loss	1,245	0	0	0	1,245	0	0
Distributions declared	(14,937)	0	0	0	0	(14,937)	0
Distributions paid to noncontrolling interests	(7,086)	0	0	0	0	0	(7,086)
Contributions from noncontrolling interests	1,420	0	0	0	0	0	1,420
Redemption and cancellation of shares	(2,099)	$ (2)	(2,097)	0	0	0	0
Redemption and cancellation of shares, shares		(212)
BALANCE at Dec. 31, 2017	$ 172,591	$ 182	$ 155,162	$ 0	$ (211)	$ 1,771	$ 15,687
BALANCE, shares at Dec. 31, 2017		18,199

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 37,416	$ 6,242	$ 5,457
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	9,867	10,496	8,867
Amortization of deferred financing costs	590	665	516
Loss on sale of marketable securities, available for sale	638	161	0
Gain on disposition of real estate and other assets, net	(37,465)	0	0
Earnings from investment in unconsolidated affiliated entity	(212)	(107)	136
Other non-cash adjustments	6	91	72
Changes in assets and liabilities:
(Increase)/decrease in accounts receivable and other assets	(1,180)	(169)	673
(Decrease)/increase in accounts payable and other accrued expenses	(106)	(80)	1,086
Increase in due to related party	539	15	204
Net cash provided by operating activities	10,093	17,314	17,011
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of investment property	(91,084)	(4,747)	(99,440)
Purchase of marketable securities, net of margin loan	(8,719)	0	0
Purchase of noncontrolling interest in a subsidiary	0	0	(867)
Proceeds from sale of marketable securities	8,285	7,573	0
Proceeds from sale of investment property	99,472
Issuance of notes receivable from related party	0	(24,200)	(20,200)
Collections on note receivable from related party	0	26,255	18,145
Release/(funding) of restricted escrows, net	842	3,755	(5,685)
Deposits for investment in real estate	(500)
Contributions to unconsolidated affiliated entity	0	0	(2,653)
Distributions from unconsolidated affiliated entity	907	291	0
Net cash provided by/(used in) investing activities	9,203	8,927	(110,700)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from mortgage financings	43,000	0	74,230
Payment on mortgages payable	(40,398)	(1,917)	(1,008)
Payment of loan fees and expenses	(677)	0	(1,691)
Proceeds/(payments) on margin loan, net	2,788	(3,723)	1,762
Proceeds from issuance of common stock	0	0	80
Payment of commissions and offering costs	0	0	(116)
Redemption and cancellation of common shares	(2,099)	(1,709)	(858)
Contribution from noncontrolling interests	1,420	10	2,175
Distributions to noncontrolling interests	(7,086)	(106)	(641)
Distributions to common stockholders	(14,974)	(12,998)	(10,365)
Net cash (used in)/provided by financing activities	(18,026)	(20,443)	63,568
Net change in cash and cash equivalents	1,270	5,798	(30,121)
Cash and cash equivalents, beginning of year	43,179	37,381	67,502
Cash and cash equivalents, end of year	$ 44,449	$ 43,179	$ 37,381

Organization

Organization	12 Months Ended
	Dec. 31, 2017
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 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. We currently have one operating segment. As of December 31, 2017, we majority owned and consolidated the operating results and financial condition of 17 limited service hotels containing a total of 2,135 rooms. Additionally, we held a 48.6% membership interest in Brownmill, LLC (“Brownmill”), which we account for under the equity method of accounting. Structure The Company’s advisor is Lightstone Value Plus REIT II LLC (the “Advisor”), which is majority owned by David Lichtenstein. Mr. Lichtenstein also is the majority owner of the equity interests of the Company’s sponsor, The Lightstone Group, LLC (the ‘‘Sponsor’’). The Company’s Advisor, together with its board of directors (the “Board of Directors”), is and will continue to be primarily responsible 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 Company’s Advisor and the indirect owner and manager of Lightstone SLP II LLC, the associate general partner of 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 does not have and will not have any employees that are not also employed by its Sponsor or its affiliates. The Company depends substantially on its Advisor, which generally has responsibility for its day-to-day operations. Under the terms of an advisory agreement, the Advisor also undertakes to use its commercially reasonable best efforts to present to the Company investment opportunities consistent with its investment policies and objectives as adopted by the Company’s Board of Directors. The Advisor has affiliated property managers (the “Property Managers”) that are related parties, which may manage certain of the properties the Company acquires. The Company also uses other unaffiliated third-party property managers, principally for the management of its hospitality properties. The Company’s distribution reinvestment plan (the “DRIP”) Registration Statement on Form S-3D was filed with the U.S. Securities and Exchange Commission 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. As of December 31, 2017, 5.9 As of December 31, 2017, the Advisor owned 20,000 200 10.00 99 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 follow-on offering (the “Follow-On Offering”), which was terminated on September 27, 2014, 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 that hold units in the Operating Partnership, (ii) membership interests held by Lightstone Value Plus Real Estate Investment Trust, Inc. (“Lightstone I”), a related party REIT also sponsored by the Company’s Sponsor in a joint venture (the “Joint Venture”) formed between the Company and Lightstone I, (see Note 3) and (iii) the membership interests held by minority owners of certain of our hotels. During 2015, the Company paid an aggregate of $ 0.9 100.0 On May 20, 2008, the Advisor contributed $ 2 200 From the Company’s inception through the termination of the Follow-On Offering, Lightstone SLP II LLC, which is wholly owned by the Sponsor, contributed cash of approximately $ 12.9 48.6 4.8 177.0 17.7 Operations - Operating Partnership Activity The Operating Partnership commenced its operations on October 1, 2009. Since then the Company has acquired and/or may continue to acquire and operate commercial, residential and hospitality properties, and make real estate-related investments, principally in North America through its Operating Partnership. The Company’s current holdings consist of retail (primarily multi-tenanted shopping centers) and lodging properties. All of the Company’s properties have been and will continue to be acquired and operated by the Company alone or jointly with others. In addition, the Company may invest up to 20% of its 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 The Advisor and its affiliates and Lightstone SLP II, LLC are related parties. Certain of these entities have or will receive compensation and fees for services related to the Company’s offerings and will continue to receive compensation and fees for services provided for the investment and management of the Company’s assets. These entities have and/or will receive fees during the Company’s offering stage (which was completed on September 27, 2014), acquisition, operational and liquidation stages. The compensation levels during the offering, acquisition and operational stages are based on percentages of the offering proceeds raised, 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 Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2017
Summary of Significant Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies The consolidated financial statements include the accounts of Lightstone REIT II and the Operating Partnership and its subsidiaries (over which Lightstone REIT II exercises financial and operating control). As of December 31, 2017, the Company had a 99 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 and depreciable lives of long-lived assets. 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 Year Ended December 31, 2017 2016 2015 Supplemental disclosure of cash flow information: Cash paid for interest $ 6,645 $ 7,155 $ 4,683 Distributions declared $ 14,937 $ 12,968 $ 12,339 Value of shares issued from distribution reinvestment program $ - $ - $ 1,723 Mortgage assumed for acquisition $ 14,000 $ - $ 32,841 Non controlling interest assumed for acquisition $ - $ - $ 656 Unrealized (loss)/gain in available for sale securities $ 607 $ 1,071 $ (2,716) Purchase of loan receivable $ - $ - $ 547 Non-cash purchase of investment property $ - $ - $ 521 Restricted escrow deposits and related liability initially established related to assumption of mortgage payable $ 2,578 $ - $ - 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. Rental revenues are recognized as earned, which is generally defined as the date upon which a guest occupies a room or utilizes the hotel’s services. 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. The Company’s reported net income or loss is directly affected by management’s estimate of the collectability of accounts receivable. Accounting for Acquisitions When the Company makes an investment in real estate, the fair value of the real estate acquired will be allocated to the acquired tangible assets, consisting of land, building and improvements, furniture and fixtures and identified intangible assets and liabilities, consisting of the value of above-market and below-market leases, acquired in-place leases, and the value of tenant relationships, based in each case on their fair values. Purchase accounting will be applied to assets and liabilities related to real estate entities acquired based upon the percentage of interest acquired. Fees incurred related to acquisitions will be expensed as incurred and recorded in general and administrative costs in the consolidated statements of operations. Transaction costs incurred related to the Company’s investment in unconsolidated affiliated entities, accounted for under the equity method of accounting, will be capitalized as part of the cost of the investment. Upon the acquisition of real estate operating properties, the Company will estimate 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, including independent appraisals that may be obtained in connection with the acquisition or financing of the respective property and other relevant market data. Based on these estimates, the Company will evaluate the existence of goodwill or a gain from a bargain purchase and will allocate 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 will be made to the purchase price allocation. The allocations will be finalized as soon as all the information necessary is available and in no case later than within twelve months from the acquisition date. 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, 2017 and 2016, the Company did not recognize any impairment charges. 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 and fixtures. Expenditures for ordinary maintenance and repairs are charged to expense as incurred. Deferred financing costs are recorded at cost and consist of loan fees and other costs incurred in issuing debt. Amortization of deferred financing costs is computed using a method that approximates the effective interest method over the term of the related debt and is included in interest expense in the consolidated statements of operations. Unamortized deferred financing costs are included as a direct deduction from the related debt in the consolidated balance sheets. 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 earnings and cash contributions and distributions. 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. 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 fair 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 fair 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, 2017 and 2016. 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 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, 2017 and 2016, the Company had no material uncertain income tax positions. 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. The carrying amounts of cash and cash equivalents, restricted escrows and deposits, accounts receivable and other assets, accounts payable and other accrued expenses, margin loan, due to related party, and distributions payable approximated their fair values as of December 31, 2017 and 2016 because of the short maturity of these instruments. As of December 31, 2017 As of December 31, 2016 Carrying Amount Estimated Fair Carrying Amount Estimated Fair Mortgages payable $ 144,509 $ 144,942 $ 127,907 $ 128,052 The fair value of our mortgages payable was determined by discounting the future contractual interest and principal payments by market interest rates. 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. 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. 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. In January 2017, the issued guidance that clarifies the definition of a business and assists in the evaluation of whether a transaction will be accounted for as an acquisition of an asset or as a business combination. The guidance provides a test to determine when a set of assets and activities acquired is not a business. When substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets, the set is not a business. Under the updated guidance, an acquisition of a single property will likely be treated as an asset acquisition as opposed to a business combination and associated transaction costs will be capitalized rather than expensed as incurred. Additionally, assets acquired, liabilities assumed, and any noncontrolling interest will be measured at their relative fair values. This guidance is effective for fiscal years and interim periods within those years beginning after December 15, 2017, with early adoption permitted. In November 2016, the FASB issued guidance that requires amounts that are generally described as restricted cash and restricted cash equivalents to be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. This guidance is effective for public companies for interim and annual reporting periods beginning after December 15, 2017. Early adoption is permitted and the pronouncement requires a retrospective transition method of adoption. This guidance will not have a material impact on the Company’s consolidated financial statements. In August 2016, the FASB In February 2016, the FASB issued an accounting standards update which supersedes the existing lease accounting model, and modifies both lessee and lessor accounting. The new guidance will require lessees to recognize a liability to make lease payments and a right-of-use asset, initially measured at the present value of lease payments, for both operating and financing leases, with classification affecting the pattern of expense recognition in the statement of earnings. For leases with a term of 12 months or less, lessees will be permitted to make an accounting policy election by class of underlying asset to not recognize lease liabilities and lease assets. Under this new pronouncement, lessor accounting will be largely unchanged from existing GAAP. The new standard will be effective January 1, 2019, with early adoption permitted. We are currently evaluating the impact this guidance will have on our consolidated financial statements when adopted. In January 2016, the FASB issued an accounting standards update that generally requires companies to measure investments in equity securities, except those accounted for under the equity method, at fair value and recognize any changes in fair value in net income. The new guidance must be applied using a modified-retrospective approach and is effective for periods beginning after December 15, 2017 and early adoption is not permitted. If the Company had adopted this standard during the years presented, it would have resulted in an increase/(decrease) to net income of approximately $ 1.2 1.0 2.7 In May 2014, the FASB issued an accounting standards update that provides for a single five-step model to be applied to all revenue contracts with customers as well as requires additional financial statement disclosures that will enable users to understand the nature, amount, timing, and uncertainty of revenue and cash flows relating to customer contracts. Companies have an option to use either a retrospective approach or cumulative effect adjustment approach to implement the standard. This guidance is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. The Company has evaluated each of its revenue streams under the new model. Based on its assessment, the adoption of this standard will not materially affect the amount and timing of revenue recognition for revenues from rooms, food and beverage, and other ancillary amenities. The Company will adopt this standard beginning on January 1, 2018 using the modified retrospective approach and is evaluating disclosure requirements. The Company has reviewed and determined that other recently issued accounting pronouncements will not have a material impact on its financial position, results of operations and cash flows, or do not apply to its current operations. Certain prior period amounts may have been reclassified to conform to the current year presentation.

Acquisitions

Acquisitions	12 Months Ended
	Dec. 31, 2017
Acquisitions [Abstract]
Acquisitions	Acquisitions Hyatt – New Orleans On November 6, 2017, the Company completed the acquisition of a 170-room select service hotel located in New Orleans, Louisiana (the “Hyatt – New Orleans”) from an unrelated third party, for an aggregate purchase price of approximately $ 32.0 excluding closing and other related transaction costs. 0.95 $ 0.3 On December 4, 2017, the Company subsequently entered into an $ 18.0 3.75 5.14 The acquisition of the Hyatt – New Orleans Hyatt – New 2.0 27.4 2.6 The capitalization rate for the acquisition of the Hyatt – New Orleans 7.3 Residence Inn – Needham On December 5, 2017, the Company completed the acquisition of a 132-room select service hotel located in , Massachusetts (the “Residence Inn – Needham”) from an unrelated third party, for an aggregate purchase price of $ 41.0 excluding closing and other related transaction costs. 0.95 $ 0.4 On December 7, 2017, the Company subsequently entered into a $ 25.0 3.75 5.18 The acquisition of the Residence Inn – Needham Residence Inn – Needham 4.0 35.3 1.7 The capitalization rate for the acquisition of the Residence Inn – Needham 8.4 Courtyard – Paso Robles On December 14, 2017, the Company completed the acquisition of a 130-room select service hotel located in Paso Robles, (the “Courtyard – Paso Robles”) from an unrelated third party, for an aggregate purchase price of approximately $ 26.4 (the Company paid approximately $ 12.4 14.0 less certain adjustments and excluding closing and other related transaction costs. 5.49 0.95 $ 0.3 The acquisition of the Courtyard – Paso Hyatt – New Orleans 3.4 21.1 1.9 The capitalization rate for the acquisition of the Courtyard – Paso Robles 9.0 Joint Venture During 2015, the Company formed 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 its Sponsor. In a series of transactions discussed below that occurred during 2015, the Joint Venture acquired Lightstone I’s membership interests in a portfolio of 11 hotel hospitality properties (the “LVP REIT Hotels”) for aggregate consideration of approximately $124.1 million. The Advisor elected to waive the acquisition fee associated with this transaction. The Company and Lightstone I have 97.5 2.5 On January 29, 2015, the Company, through the Joint Venture, completed the acquisition of Lightstone I’s 100.0 64.6 63.0 1.6 · a Courtyard by Marriott located in Willoughby, Ohio (the “Courtyard – Willoughby”); · a Fairfield Inn & Suites by Marriott located in West Des Moines, Iowa (the “Fairfield Inn – Des Moines”); · a SpringHill Suites by Marriott located in West Des Moines, Iowa (the SpringHill Suites – Des Moines”); · a Hampton Inn located in Miami, Florida (the “Hampton Inn – Miami”); and · a Hampton Inn & Suites located in Fort Lauderdale, Florida (the “Hampton Inn & Suites – Fort Lauderdale”). On January 29, 2015, the Company, through two wholly owned subsidiaries, entered into a $ 60.0 4.95 65.0 35.0 On February 11, 2015, the Company, through the Joint Venture, completed the acquisition of Lightstone I’s (i) 100.0 90.0 24.1 (including approximately $ 0.3 10 11.6 12.2 11.9 0.3 The assumed debt consisted of (i) a $ 7.8 3.50 3.8 5.36 On June 10, 2015, the Company through the Joint Venture, completed the acquisition of Lightstone I’s (i) 100.0 100.0 95.0 a Fairfield Inn & Suites by Marriott located in Jonesboro, Arkansas (the “Fairfield Inn – Jonesboro” and collectively, the “Hotel II Portfolio”) 28.0 (including approximately $ 0.7 5 15.1 12.9 12.6 0.3 15.1 , 4.94 On June 30, 2015, the Company through the Joint Venture, completed the acquisition of Lightstone I’s 90.0 Courtyard by Marriott located in Baton Rouge, Louisiana (the “Courtyard – Baton Rouge”) 7.4 (including approximately $ 0.7 10.0 Courtyard - Baton Rouge 6.1 1.3 1.2 0.1 6.1 Courtyard - Baton Rouge, 5.56 As a result, the , through the Joint Venture, completed the acquisition of all of the LVP REIT Hotels. The acquisition of the LVP REIT Hotels 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 dates of the acquisition. Approximately $ 21.0 86.4 16.7 and fixtures and other assets. On July 14, 2017, in the Aloft – Rogers, the Fairfield Inn – Jonesboro, the Courtyard - Baton Rouge and the Residence Inn - Baton Rouge. A portion of the proceeds from the disposition related costs (See Note 4 and Note Financial Information For the Years Ended December 31, 2017 2016 2015 Rental revenue $ 34,380 $ 40,085 $ 30,155 Net income (1) $ 16,051 $ 3,713 $ 3,902 Net income for the year ended December 31, 2017 includes a gain on the disposition of real estate and other assets, net of $ 16.4 For the Years Ended December 31, 2017 2016 2015 Pro forma rental revenue (1) $ 95,242 $ 106,322 $ 101,672 Pro forma net income per Company's common share $ 38,911 $ 8,873 $ 8,935 Pro forma net income per Company's common share, basic and diluted $ 2.13 $ 0.48 $ 0.48 (1) The Aloft – Rogers, the Fairfield Inn – Jonesboro, the Courtyard - Baton Rouge and the Residence Inn - Baton Rouge, which were included in the LVP REIT Hotels, were disposed of on July 14, 2017.

Disposition of limited service

Disposition of limited service hotels	12 Months Ended
	Dec. 31, 2017
Discontinued Operations and Disposal Groups [Abstract]
Disposition of limited service hotels	Disposition of limited service hotels On July 14, 2017, certain wholly and majority owned subsidiaries (collectively, the “Sellers”) of the Company’s operating partnership and certain subsidiaries of Phoenix American Hospitality, LLC (the “Buyers”), all unaffiliated third parties, entered into a purchase and sale agreement (the “Hotel Portfolio Agreement”) pursuant to which the Sellers disposed of their respective membership interests in a portfolio of seven limited service hotels (the “Hotel Portfolio”) to the Buyers for a contractual sales price of $ 101.0 The Hotel Portfolio, which had an aggregate of 778 rooms, was comprised of the following properties: · the Aloft – Rogers; · the Fairfield Inn - Jonesboro; · the Courtyard - Baton Rouge; · the Residence Inn - Baton Rouge; · a TownePlace Suites by Marriott located in Harahan, Louisiana (the “TownePlace Suites - Metairie”); · a TownePlace Suites by Marriott located in Johnson/Springdale, Arkansas (the “TownePlace Suites - Fayetteville”); and · a Hampton Inn & Suites located in Fort Myers Beach, Florida (the “Hampton Inn - Fort Myers Beach”). On July 14, 2017, pursuant to the terms of the Hotel Portfolio Agreement, the Sellers completed the disposition of their membership interests in the Hotel Portfolio for $101.0 million to the Buyers. The Seller’s net proceeds from the disposition of the Hotel Portfolio were approximately $ 65.2 38.2 Additionally, in connection with the disposition of the Hotel Portfolio, approximately $ 34.6 Additionally, approximately $ 57.2 The disposition of the Hotel Portfolio did not qualify to be reported as discontinued operations since the disposition did not represent a strategic shift that had a major effect on the Company’s operations and financial results. Accordingly, the operating results of the Hotel Portfolio are reflected in the Company’s results from continuing operations for all periods presented through its date of disposition.

Investment in Unconsolidated Af

Investment in Unconsolidated Affiliated Entity	12 Months Ended
	Dec. 31, 2017
Investments in Unconsolidated Affiliated Entities [Abstract]
Investment in Unconsolidated Affiliated Entities	Investment 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. As of Entity Date of Ownership Ownership % December 31, 2017 December 31, 2016 Brownmill Various 48.58 % $ 5,140 $ 5,836 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 34.4 5.6 8.6 48 33 6 9 100,000 4.8 3.3 0.6 0.9 As of December 31, 2017, the Company owns a 48.6 1.9 595 0 907 291 0 During the year ended December 31, 2015, Brownmill refinanced its mortgage payable. In connection with the refinancing, Brownmill made a principal payment of approximately $ 5.5 2.7 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. For the Year Ended For the Year Ended For the Year Ended Revenue $ 3,521 $ 3,596 $ 3,644 Property operating expenses 1,491 1,592 1,596 Depreciation and amortization 749 846 904 Operating income 1,281 1,158 1,144 Interest expense and other, net (563) (590) (1,018) Net income $ 718 $ 568 $ 126 Company's share of net income $ 349 $ 276 $ 61 Additional depreciation and amortization expense (1) (137) (169) (197) Company's earnings from investment $ 212 $ 107 $ (136) 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. As of As of December 31, 2017 December 31, 2016 Real estate, at cost (net) $ 14,697 $ 15,273 Cash and restricted cash 727 1,412 Other assets 1,388 1,269 Total assets $ 16,812 $ 17,954 Mortgage payable $ 14,485 $ 14,519 Other liabilities 523 482 Members' deficiency 1,804 2,953 Total liabilities and members' deficiency $ 16,812 $ 17,954

Marketable Securities and Fair

Marketable Securities and Fair Value Measurements	12 Months Ended
	Dec. 31, 2017
Marketable Securities, Margin Loan and Fair Value Measurements [Abstract]
Marketable Securities and Fair Value Measurements	6. Marketable Securities and Fair Value Measurements Marketable Securities: As of December 31, 2017 Adjusted Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Equity Securities $ 9,989 $ - $ (211) $ 9,778 As of December 31, 2016 Adjusted Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Equity Securities $ 10,194 $ - $ (1,456) $ 8,738 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 2.42 During the year ended December 31, 2017, the Company sold equity securities with a cost basis of approximately $ 8.9 8.3 0.6 7.8 7.6 0.2 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, 2017 and 2016, 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, 2017 and 2016 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.

Notes Receivable from Related P

Notes Receivable from Related Party	12 Months Ended
	Dec. 31, 2017
Notes Receivable from Related Party [Abstract]
Notes Receivable from Related Party	7. Notes Receivable from Related Party The Company had entered into various revolving promissory notes (collectively, the “Notes Receivable from Related Party”) with the operating partnership of Lightstone Value Plus Real Estate Investment Trust III, Inc. (“Lightstone III”), a REIT also sponsored by the Company’s Sponsor as discussed below. During the year ended December 31, 2016, the Company recorded interest income (included in interest and dividend income in the consolidated statements of operations) of $ 606 277 Des Moines Note Receivable On February 4, 2015, the Company entered into a revolving promissory note (the “Des Moines Note Receivable”) of up to $ 10.0 8.2 The Des Moines Note Receivable had a term of one year, bore interest at a floating rate of three-month Libor plus 6.0 100 Durham Note Receivable On May 15, 2015, the Company entered into a revolving promissory note (the “Durham Note Receivable”) of up to $ 13.0 12.0 The Durham Note Receivable had a term of one year, bore interest at a floating rate of three-month Libor plus 6.0 130 8.0 10.1 Lansing Note Receivable On May 2, 2016, the Company entered into a revolving promissory note (the “Lansing Note Receivable”) of up to $ 8.0 6.0 6.0 80 Green Bay Note Receivable On May 2, 2016, the Company entered into a revolving promissory note (the “Green Bay Note Receivable”) of up to $ 14.5 10.2 6.0 145

Mortgages payable

Mortgages payable	12 Months Ended
	Dec. 31, 2017
Mortgages payable [Abstract]
Mortgages payable	8. Mortgages Payable Mortgages payable consisted of the following: Weighted Average Description Interest Interest Rate as of December 31, 2017 Maturity Amount Due As of As of Promissory Note, secured by two properties 4.94% 4.94 % August 2018 $ 6,546 $ 6,653 $ 22,688 Revolving Loan, secured by nine properties LIBOR + 4.95% 6.16 % April 2018 73,616 73,616 73,616 Courtyard - Parsippany LIBOR + 3.50% 4.56 % August 2018 7,126 7,240 7,431 Hyatt – New Orleans LIBOR + 3.75% December 2020 18,000 18,000 - Residence Inn – Needham LIBOR + 3.75% (subject to a 5.18% floor) December 2020 25,000 25,000 - Courtyard – Paso Robles 5.49% 5.49 % November 2023 13,022 14,000 - Residence Inn - Baton Rouge (Repaid in full on July 14, 2017) - - 3,640 Promissory Note, secured by three properties (Repaid in full on July 14, 2017) - - 14,610 Courtyard - Baton Rouge (Matured and repaid in full on May 1, 2017) - - 5,922 Total mortgages payable 5.66 % $ 143,310 $ 144,509 $ 127,907 Less: Deferred financing costs (728 ) (767 ) Total mortgages payable, net $ 143,781 $ 127,140 The Company’s mortgage loan secured by the Courtyard – Baton Rouge matured on May 1, 2017 and the outstanding principal balance of $5.9 million was repaid in full with cash on hand. On July 14, 2017, the Company used approximately $34.6 million of the proceeds from the disposition of a portfolio of seven limited service hotels (See Note 4) towards the repayment of associated mortgage indebtedness and related costs as follows: · Approximately $14.9 million of the proceeds were used to repay in full the Promissory Note, secured by three properties, with an outstanding principal balance of $14.4 million and defeasance and other costs totaling $0.5 million. The Promissory Note was scheduled to mature in August 2018. · Approximately $16.1 million of the proceeds were used to partially paydown by $15.6 million the Promissory Note with an outstanding principal balance of $22.4 million to $6.8 million and defeasance and other costs totaling $0.5 million. The Promissory Note was cross-collateralized by four hotel properties; including the TownePlace Suites – Metairie and the TownePlace Suites - Fayetteville which were released from the collateral pool in connection with the partial paydown. As a result, the Promissory Note is now secured by two properties; the SpringHill Suites – Peabody and the TownePlace Suites – Little Rock. The Promissory Note (outstanding principal balance of $6.7 million as of December 31, 2017) has 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. · Approximately $3.6 million of the proceeds were used to fully repay a mortgage loan with an outstanding principal balance of $3.6 million which was secured by the Residence Inn – Baton Rouge. The mortgage loan was scheduled to mature in November 2018. Revolving Credit Facility In January 2015, the Company, through two wholly owned subsidiaries, entered into the Revolving Credit Facility. 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 the lender. 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. As of December 31, 2017, the Revolving Credit Facility was secured by nine hotels and provided for maximum advances up to $75.0 million, of which $73.6 million was drawn and outstanding (referred to as the “Revolving Loan”). Hyatt – New Orleans Mortgage Loan On December 4, 2017, the Company entered into an $18.0 million non-recourse mortgage loan collateralized by the Hyatt – New Orleans. The Hyatt - New Orleans Mortgage Loan matures in December 2020, bears interest at Libor plus 3.75% subject to a floor of 5.14% and requires monthly interest payments through its stated maturity. Residence Inn – Needham Mortgage Loan On December 7, 2017, the Company entered into a $25.0 million non-recourse mortgage loan collateralized by the Residence Inn – Needham . Courtyard – Paso Robles Mortgage Loan In connection with the acquisition of the the Courtyard – Paso Robles, the Company assumed an existing $14.0 million non-recourse mortgage loan collateralized by the Courtyard – Paso Robles. The Courtyard – Paso Robles Mortgage Loan matures in November 2023, bears interest at a fixed rate of 5.49% and requires monthly principal and interest payments through its stated maturity. The fair value of the Courtyard – Paso Robles Mortgage Loan approximated its outstanding balance as of the date of assumption. 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, 2017: 2018 2019 2020 2021 2022 Thereafter Total Principal maturities $ 87,524 $ 179 $ 43,187 $ 200 $ 211 $ 13,208 $ 144,509 Less: Deferred financing costs (728 ) Total principal maturiteis, net $ 143,781 Debt Compliance Pursuant to the Company’s debt agreements, approximately $5.2 million and $3.5 million were held in restricted escrow accounts as of December 31, 2017 and 2016, respectively. 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. As of December 31, 2017, the Company was in compliance with respect to all of its financial debt covenants other than the debt associated with the Revolving Loan, secured by nine properties as discussed below. During the fourth quarter of 2017, the Company did not meet certain financial covenants on the non-recourse Revolving Credit Facility, secured by nine properties. The lender provided the Company a waiver for this non-compliance for the testing period for the quarter ending December 31, 2017. Additionally, the non-recourse Revolving Credit Facility (outstanding principal balance of $73.6 million as of December 31, 2017) that was initially scheduled to mature in January 2018 has been extended through April 2018 and the Company is currently working with the lender on refinancing the Revolving Credit Facility. In addition, the Company’s recourse mortgage loans secured by the Courtyard Parsippany (outstanding principal balance of $7.2 million as of December 31, 2017) and the Springhill Suites Peabody and the TownePlace Suites – Little Rock (outstanding principal balance of $6.7 million as of December 31, 2017) mature in August 2018. The Company intends to seek to refinance and/or repay in full, using cash on hand, such existing indebtedness on or before its applicable stated maturity.

Stockholder's Equity

Stockholder's Equity	12 Months Ended
	Dec. 31, 2017
Equity [Abstract]
Stockholder’s Equity	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 and Share Repurchase Program U.S. federal income tax law requires that a REIT distribute annually at least 90 Distributions are authorized at the discretion of our Board of Directors based on their analysis of our performance over the previous periods and expectations of performance for future periods. Such analyses may include actual and anticipated operating cash flow, capital expenditure needs, general financial and market conditions, proceeds from asset sales and other factors that our Board of Directors deem relevant. Our Board of Directors’ decisions will be substantially influenced by their obligation to ensure that we maintain our federal tax status as a REIT. We commenced regular quarterly distributions beginning with the fourth quarter of 2009. We may fund future distributions from borrowings if we do not generated sufficient cash flow from our operations to fund distributions. Our ability to continue 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 quarterly 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 an annualized distribution rate for each quarterly period commencing 30 days subsequent to us achieving the minimum offering of 500,000 0.00178082191 365 6.5 10.00 At the beginning of October 2009, we achieved our minimum offering of 500,000 Our stockholders had 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. On September 25, 2015, the Board of Directors resolved that future distributions declared to shareholders of record on the close of business on the last day of the quarter during the applicable quarter would be targeted to be paid at a rate of $ 0.0019178 365 7.0 10.00 6.5 Total distributions declared during the years ended December 31, 2017, 2016 and 2015 were $ 14.9 13.0 12.3 Additionally, on February 28, 2017, our Board of Directors declared a special distribution, payable to stockholders of record on February 28, 2017, for the difference between the Revised Annualized Distribution Rate and the Initial Annualized Distribution Rate for the period from October 1, 2009 through September 30, 2015. This distribution was calculated based on stockholders of record each day during the applicable period at a rate of $ 0.000136986 365 0.5 10.00 6.3 2.1 4.2 On March 15, 2018, our Board of Directors declared the quarterly distribution for the three-month period ended March 31, 2018 at the Revised Annualized Distribution Rate payable to stockholders of record on the close of business on the last day of the quarter, which will be paid on or about April 15, 2018. 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. Our share repurchase program may provide our stockholders with limited, interim liquidity by enabling them to sell their shares back to us, subject to restrictions. From our inception through December 31, 2016, we redeemed 0.5 9.47 0.2 100 9.91

Noncontrolling Interests

Noncontrolling Interests	12 Months Ended
	Dec. 31, 2017
Noncontrolling Interests [Abstract]
Noncontrolling Interests	Noncontrolling Interests The noncontrolling interests consist of (i) parties that hold units in the Operating Partnership (ii) membership interests held by Lightstone I in the Joint Venture (see Note 3) and (iii) the membership 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, 2017 and 2016 include (i) the 200 177 During 2015, the Company paid an aggregate $ 0.6 100.0 S hare 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.

Related Party and Other Transac

Related Party and Other Transactions	12 Months Ended
	Dec. 31, 2017
Related Party Transactions [Abstract]
Related Party and Other Transactions	Related Party and Other Transactions The Company has agreements with the Advisor and Property Managers to pay certain fees, as follows, in exchange for services performed by these entities and other related party 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 Acquisition Fee The Advisor will be paid an acquisition fee equal to 0.95 Property Management – Residential/Retail/Hospitality The Property Managers will be paid a monthly management fee of up to 5 Property Management – Office/Industrial The Property Managers will be paid monthly property management and leasing fees of up to 4.5 Asset Management Fee The Advisor or its affiliates will be paid an asset management fee of 0.95 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. Reimbursement of Other expenses 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 25 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 were no distributions paid through December 31, 2016. However, in connection with the Board of Directors declaration of the Catch-Up Distribution on February 28, 2017, it also declared that distributions be brought current through December 31, 2016 on the Subordinated Profits Interests at a 7% annualized rate of return which amounted to approximately $ 4.2 0.9 5.1 7 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 Distributions Amount of Distribution 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 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 30 12 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 40 Operating Stage Amount of Distribution 7% stockholder Return Threshold Once a cumulative non-compounded return of 7 7 10 Returns in excess of 7% Once a cumulative non-compounded return of 7% per year is realized by stockholders on their net investment, 70 30 12 Returns in Excess of 12% After the 12 60 40 2017 2016 2015 Acquisition fees $ 936 $ - $ - Asset management fees 2,226 2,389 2,032 Development fees - 59 20 Total $ 3,162 $ 2,448 $ 2,052 As of December 31, 2017, the Company owns a 48.6 Other Related Party Transactions From time to time, the Company purchases title insurance from an agent in which our Sponsor owns a 50 159

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2017
Commitments and Contingencies [Abstract]
Commitments and Contingencies	Commitments and Contingencies Management Agreements The Company’s hotels operate pursuant to management agreements with various third-party management companies. The management companies perform management functions including, but not limited to, hiring and supervising employees, establishing room prices, establishing administrative policies and procedures, managing expenditures and arranging and supervising public relations and advertising. The Management Agreements are for terms ranging from 1 10 The Management Agreements provide for the payment of a base management fee equal to 3 3.5 Franchise Agreements As of December 31, 2017, the Company’s hotels operated pursuant to franchise agreements. Under the franchise agreements, the Company generally pays a fee equal to 5 1.5 3.5 marketing fund charge are The franchise agreements are for terms ranging from 15 20 Legal Proceedings From time to time in the ordinary course of business, the Company may become subject to legal proceedings, claims or disputes. 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, 2017
Quarterly Financial Data [Abstract]
Quarterly Financial Data	Quarterly Financial Data (Unaudited) 2017 Year ended Quarter ended Quarter ended Quarter ended Quarter ended December 31, December 31, September 30, June 30, March 31, Total revenue $ 73,257 $ 15,654 $ 15,353 $ 21,644 $ 20,606 Operating income/(loss) $ 6,717 $ (763) $ 927 $ 3,629 $ 2,924 Net income/(loss) $ 37,416 $ (2,340) $ 37,070 $ 1,871 $ 815 Less income attributable to noncontrolling interests $ (1,156) $ (3) $ (1,038) $ (73) $ (42) Net income/(loss) applicable to Company's common shares $ 36,260 $ (2,343) $ 36,032 $ 1,798 $ 773 Net income/(loss) per common share, basic and diluted $ 1.98 $ (0.13) $ 1.97 $ 0.10 $ 0.04 2016 Year ended Quarter ended Quarter ended Quarter ended Quarter ended December 31, December 31, September 30, June 30, March 31, Total revenue $ 83,421 $ 19,986 $ 22,195 $ 21,351 $ 19,889 Operating income $ 12,590 $ 2,328 $ 4,003 $ 3,924 $ 2,335 Net income $ 6,242 $ 580 $ 2,265 $ 2,396 $ 1,001 Less (income)/loss attributable to noncontrolling interests (297) (114) (111) (75) 3 Net income applicable to Company's common shares $ 5,945 $ 466 $ 2,154 $ 2,321 $ 1,004 Net income per common share, basic and diluted $ 0.32 $ 0.03 $ 0.12 $ 0.13 $ 0.05

Schedule III Real Estate and Ac

Schedule III Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2017
Schedule III Real Estate and Accumulated Depreciation [Abstract]
Schedule III Real Estate and Accumulated Depreciation	Schedule III Real Estate and Accumulated Depreciation December 31, 2017 Initial Cost (A) Gross amount at which Encumbrance (B) Land Buildings and Net Costs Land and Buildings and Total (C) Accumulated (D) Date Acquired Depreciable (E) SpringHill Suites Hotel (1) Peabody, MA $ 6,639 $ 2,126 $ 10,624 $ 3,423 $ 2,188 $ 13,985 $ 16,173 $ (4,624) 7/13/2012 (D) Fairfield Inn East Rutherford, NJ - 2,945 8,743 5,676 3,068 14,296 17,364 (3,556) 12/31/2012 (D) TownePlace Suites Hotel (1) Little Rock, AR - 1,037 5,220 1,079 1,045 6,291 7,336 (1,432) 6/18/2013 (D) Vacant Lot Philadelphia, PA - 2,000 - - 2,000 - 2,000 - 12/17/2014 (D) Courtyard Marriott Parsippany, NJ 7,221 2,690 14,310 704 2,837 14,867 17,704 (2,198) 2/11/2015 (D) Holiday Inn Express Hotel Auburn, AL - 817 7,241 140 817 7,381 8,198 (1,112) 6/10/2015 (D) Hyatt Place New Orleans, LA 17,792 1,957 30,043 - 1,957 30,043 32,000 (181) 11/6/2017 (D) Residence Inn Needham, MA 24,769 4,017 36,757 - 4,017 36,757 40,774 (100) 12/5/2017 (D) Courtyard Marriott Paso Robles, CA 13,777 3,410 22,940 - 3,410 22,940 26,350 (71) 12/14/2017 (D) Total $ 70,198 $ 20,999 $ 135,878 $ 11,022 $ 21,339 $ 146,560 $ 167,899 $ (13,274) Revolving Credit Facility (2) Holiday Inn Express Hotel Opelika, AL $ - $ 999 $ 5,871 $ 233 $ 999 $ 6,104 $ 7,103 $ (902) 4/1/2014 (D) Aloft Tucson University Hotel Tucson, AZ - 1,860 17,140 183 1,860 17,323 19,183 (2,807) 4/8/2014 (D) Aloft Philadelphia Airport Hotel Philadelphia, PA - 2,595 11,805 1,855 2,595 13,660 16,255 (1,638) 12/17/2014 (D) Four Points by Sheraton Hotel Philadelphia, PA - 3,267 5,733 3,618 3,278 9,340 12,618 (1,220) 12/17/2014 (D) Courtyard Marriott Willoughby, OH - 1,177 10,823 256 1,202 11,054 12,256 (1,596) 1/29/2015 (D) Fairfield Inn & Suites Des Moines, IA - 1,648 6,852 303 1,672 7,131 8,803 (1,148) 1/29/2015 (D) SpringHill Suites Des Moines, IA - 1,495 7,905 203 1,512 8,091 9,603 (1,219) 1/29/2015 (D) Hampton Inn Hotel Miami, FL - 3,571 15,629 1,406 3,571 17,035 20,606 (1,649) 1/29/2015 (D) Hampton Inn Hotel Ft Lauderdale, FL - 2,383 13,117 1,700 2,383 14,817 17,200 (1,529) 1/29/2015 (D) Unallocated 73,583 - - - - - - - (D) Total $ 73,583 $ 18,995 $ 94,875 $ 9,757 $ 19,072 $ 104,555 $ 123,627 $ (13,708) Grand Total $ 143,781 $ 39,994 $ 230,753 $ 20,779 $ 40,411 $ 251,115 $ 291,526 $ (26,982) (1) - The Company's Promissory Note is cross-collateralized by two hotels. (2) - The Company's Revolving Credit Facility is cross-collateralized by nine hotels. 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) Net of debt origination costs. (C) Reconciliation of total real estate owned: For the years ended December 31, Reconciliation of total real estate owned: 2017 2016 2015 Balance at beginning of year $ 257,873 $ 253,646 $ 120,790 Acquisitions, at cost 99,124 - 123,939 Improvements 3,000 4,227 8,917 Disposals (68,471) - - Balance at end of year $ 291,526 $ 257,873 $ 253,646 (D) Reconciliation of accumulated depreciation: For the years ended December 31, Reconciliation of accumulated depreciation: 2017 2016 2015 Balance at beginning of year $ 25,430 $ 14,959 $ 6,111 Depreciation expense 9,849 10,471 8,848 Disposals (8,297) - - Balance at end of year $ 26,982 $ 25,430 $ 14,959 (E) Depreciation is computed based upon the following estimated lives: Buildings and improvements 15-39 years Furniture and fixtures 5-10 years

Summary of Significant Accoun22

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2017
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 II exercises financial and operating control). As of December 31, 2017, the Company had a 99 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 and depreciable lives of long-lived assets. 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
Cash and Cash Equivalents	Cash and Cash Equivalents Year Ended December 31, 2017 2016 2015 Supplemental disclosure of cash flow information: Cash paid for interest $ 6,645 $ 7,155 $ 4,683 Distributions declared $ 14,937 $ 12,968 $ 12,339 Value of shares issued from distribution reinvestment program $ - $ - $ 1,723 Mortgage assumed for acquisition $ 14,000 $ - $ 32,841 Non controlling interest assumed for acquisition $ - $ - $ 656 Unrealized (loss)/gain in available for sale securities $ 607 $ 1,071 $ (2,716) Purchase of loan receivable $ - $ - $ 547 Non-cash purchase of investment property $ - $ - $ 521 Restricted escrow deposits and related liability initially established related to assumption of mortgage payable $ 2,578 $ - $ -
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 Rental revenues are recognized as earned, which is generally defined as the date upon which a guest occupies a room or utilizes the hotel’s services.
Accounts Receivable	Accounts Receivable 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. 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 will be allocated to the acquired tangible assets, consisting of land, building and improvements, furniture and fixtures and identified intangible assets and liabilities, consisting of the value of above-market and below-market leases, acquired in-place leases, and the value of tenant relationships, based in each case on their fair values. Purchase accounting will be applied to assets and liabilities related to real estate entities acquired based upon the percentage of interest acquired. Fees incurred related to acquisitions will be expensed as incurred and recorded in general and administrative costs in the consolidated statements of operations. Transaction costs incurred related to the Company’s investment in unconsolidated affiliated entities, accounted for under the equity method of accounting, will be capitalized as part of the cost of the investment. Upon the acquisition of real estate operating properties, the Company will estimate 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, including independent appraisals that may be obtained in connection with the acquisition or financing of the respective property and other relevant market data. Based on these estimates, the Company will evaluate the existence of goodwill or a gain from a bargain purchase and will allocate 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 will be made to the purchase price allocation. The allocations will be finalized as soon as all the information necessary is available and in no case later than within twelve months from the acquisition date. 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, 2017 and 2016, 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 and fixtures. Expenditures for ordinary maintenance and repairs are charged to expense as incurred.
Deferred Costs	Deferred Costs Deferred financing costs are recorded at cost and consist of loan fees and other costs incurred in issuing debt. Amortization of deferred financing costs is computed using a method that approximates the effective interest method over the term of the related debt and is included in interest expense in the consolidated statements of operations. Unamortized deferred financing costs are included as a direct deduction from the related debt in the consolidated balance sheets.
Investments in Unconsolidated Affiliated Entities	Investment in Unconsolidated Affiliated Entity 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 earnings and cash contributions and distributions. 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. 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 fair 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 fair 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, 2017 and 2016.
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 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, 2017 and 2016, the Company had no material uncertain income tax positions. 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, accounts receivable and other assets, accounts payable and other accrued expenses, margin loan, due to related party, and distributions payable approximated their fair values as of December 31, 2017 and 2016 because of the short maturity of these instruments. As of December 31, 2017 As of December 31, 2016 Carrying Amount Estimated Fair Carrying Amount Estimated Fair Mortgages payable $ 144,509 $ 144,942 $ 127,907 $ 128,052 The fair value of our mortgages payable was determined by discounting the future contractual interest and principal payments by market interest rates.
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.
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 January 2017, the issued guidance that clarifies the definition of a business and assists in the evaluation of whether a transaction will be accounted for as an acquisition of an asset or as a business combination. The guidance provides a test to determine when a set of assets and activities acquired is not a business. When substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets, the set is not a business. Under the updated guidance, an acquisition of a single property will likely be treated as an asset acquisition as opposed to a business combination and associated transaction costs will be capitalized rather than expensed as incurred. Additionally, assets acquired, liabilities assumed, and any noncontrolling interest will be measured at their relative fair values. This guidance is effective for fiscal years and interim periods within those years beginning after December 15, 2017, with early adoption permitted. In November 2016, the FASB issued guidance that requires amounts that are generally described as restricted cash and restricted cash equivalents to be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. This guidance is effective for public companies for interim and annual reporting periods beginning after December 15, 2017. Early adoption is permitted and the pronouncement requires a retrospective transition method of adoption. This guidance will not have a material impact on the Company’s consolidated financial statements. In August 2016, the FASB In February 2016, the FASB issued an accounting standards update which supersedes the existing lease accounting model, and modifies both lessee and lessor accounting. The new guidance will require lessees to recognize a liability to make lease payments and a right-of-use asset, initially measured at the present value of lease payments, for both operating and financing leases, with classification affecting the pattern of expense recognition in the statement of earnings. For leases with a term of 12 months or less, lessees will be permitted to make an accounting policy election by class of underlying asset to not recognize lease liabilities and lease assets. Under this new pronouncement, lessor accounting will be largely unchanged from existing GAAP. The new standard will be effective January 1, 2019, with early adoption permitted. We are currently evaluating the impact this guidance will have on our consolidated financial statements when adopted. In January 2016, the FASB issued an accounting standards update that generally requires companies to measure investments in equity securities, except those accounted for under the equity method, at fair value and recognize any changes in fair value in net income. The new guidance must be applied using a modified-retrospective approach and is effective for periods beginning after December 15, 2017 and early adoption is not permitted. If the Company had adopted this standard during the years presented, it would have resulted in an increase/(decrease) to net income of approximately $ 1.2 1.0 2.7 In May 2014, the FASB issued an accounting standards update that provides for a single five-step model to be applied to all revenue contracts with customers as well as requires additional financial statement disclosures that will enable users to understand the nature, amount, timing, and uncertainty of revenue and cash flows relating to customer contracts. Companies have an option to use either a retrospective approach or cumulative effect adjustment approach to implement the standard. This guidance is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. The Company has evaluated each of its revenue streams under the new model. Based on its assessment, the adoption of this standard will not materially affect the amount and timing of revenue recognition for revenues from rooms, food and beverage, and other ancillary amenities. The Company will adopt this standard beginning on January 1, 2018 using the modified retrospective approach and is evaluating disclosure requirements. The Company has reviewed and determined that other recently issued accounting pronouncements will not have a material impact on its financial position, results of operations and cash flows, or do not apply to its current operations.
Reclassifications	Reclassifications Certain prior period amounts may have been reclassified to conform to the current year presentation.

Summary of Significant Accoun23

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2017
Summary of Significant Accounting Policies [Abstract]
Summary of Supplemental Cash Flow Information	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. Year Ended December 31, 2017 2016 2015 Supplemental disclosure of cash flow information: Cash paid for interest $ 6,645 $ 7,155 $ 4,683 Distributions declared $ 14,937 $ 12,968 $ 12,339 Value of shares issued from distribution reinvestment program $ - $ - $ 1,723 Mortgage assumed for acquisition $ 14,000 $ - $ 32,841 Non controlling interest assumed for acquisition $ - $ - $ 656 Unrealized (loss)/gain in available for sale securities $ 607 $ 1,071 $ (2,716) Purchase of loan receivable $ - $ - $ 547 Non-cash purchase of investment property $ - $ - $ 521 Restricted escrow deposits and related liability initially established related to assumption of mortgage payable $ 2,578 $ - $ -
Summary of Estimated Fair Value of Debt	The estimated fair value of our mortgages payable is as follows: As of December 31, 2017 As of December 31, 2016 Carrying Amount Estimated Fair Carrying Amount Estimated Fair Mortgages payable $ 144,509 $ 144,942 $ 127,907 $ 128,052

Acquisitions (Tables)

Acquisitions (Tables)	12 Months Ended
	Dec. 31, 2017
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Business Acquisition, Pro Forma Information Acquisition Date Actual	The following table provides the total amount of rental revenue and net income included in the Company’s consolidated statements of operations from the LVP REIT Hotels, the Courtyard – Paso Robles, the Residence Inn – Needham and the Hyatt – New Orleans since their respective dates of acquisition for the periods indicated: (The Aloft – Rogers, the Fairfield Inn – Jonesboro, the Courtyard - Baton Rouge and the Residence Inn - Baton Rouge, which were included in the LVP REIT Hotels, were disposed of on July 14, 2017) For the Years Ended December 31, 2017 2016 2015 Rental revenue $ 34,380 $ 40,085 $ 30,155 Net income (1) $ 16,051 $ 3,713 $ 3,902
Business Acquisition, Pro Forma Information	The following table provides unaudited pro forma results of operations for the periods indicated, as if the LVP REIT Hotels, the Courtyard – Paso Robles, the Residence Inn – Needham and the Hyatt – New Orleans 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, 2017 2016 2015 Pro forma rental revenue (1) $ 95,242 $ 106,322 $ 101,672 Pro forma net income per Company's common share $ 38,911 $ 8,873 $ 8,935 Pro forma net income per Company's common share, basic and diluted $ 2.13 $ 0.48 $ 0.48 (1) The Aloft – Rogers, the Fairfield Inn – Jonesboro, the Courtyard - Baton Rouge and the Residence Inn - Baton Rouge, which were included in the LVP REIT Hotels, were disposed of on July 14, 2017.

Investment in Unconsolidated 25

Investment in Unconsolidated Affiliated Entity (Tables)	12 Months Ended
	Dec. 31, 2017
Schedule of Equity Method Investments [Line Items]
Summary of Investments in Unconsolidated Entities	A summary of the Company’s investment in the unconsolidated affiliated entity is as follows: As of Entity Date of Ownership Ownership % December 31, 2017 December 31, 2016 Brownmill Various 48.58 % $ 5,140 $ 5,836
Brownmill, LLC [Member]
Schedule of Equity Method Investments [Line Items]
Unaudited Condensed Income Statements of Affiliated Entities	The following table represents the condensed income statements for Brownmill for the periods indicated: For the Year Ended For the Year Ended For the Year Ended Revenue $ 3,521 $ 3,596 $ 3,644 Property operating expenses 1,491 1,592 1,596 Depreciation and amortization 749 846 904 Operating income 1,281 1,158 1,144 Interest expense and other, net (563) (590) (1,018) Net income $ 718 $ 568 $ 126 Company's share of net income $ 349 $ 276 $ 61 Additional depreciation and amortization expense (1) (137) (169) (197) Company's earnings from investment $ 212 $ 107 $ (136) 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	The following table represents the condensed balance sheets for Brownmill: As of As of December 31, 2017 December 31, 2016 Real estate, at cost (net) $ 14,697 $ 15,273 Cash and restricted cash 727 1,412 Other assets 1,388 1,269 Total assets $ 16,812 $ 17,954 Mortgage payable $ 14,485 $ 14,519 Other liabilities 523 482 Members' deficiency 1,804 2,953 Total liabilities and members' deficiency $ 16,812 $ 17,954

Marketable Securities and Fai26

Marketable Securities and Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2017
Marketable Securities, Margin Loan and Fair Value Measurements [Abstract]
Summary of Available for Sale Securities	The following is a summary of the Company’s available for sale securities as of the dates indicated: As of December 31, 2017 Adjusted Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Equity Securities $ 9,989 $ - $ (211) $ 9,778 As of December 31, 2016 Adjusted Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Equity Securities $ 10,194 $ - $ (1,456) $ 8,738

Mortgages payable (Tables)

Mortgages payable (Tables)	12 Months Ended
	Dec. 31, 2017
Mortgages payable [Abstract]
Schedule of Mortgages Payable	Mortgages payable consisted of the following: Weighted Average Description Interest Interest Rate as of December 31, 2017 Maturity Amount Due As of As of Promissory Note, secured by two properties 4.94% 4.94 % August 2018 $ 6,546 $ 6,653 $ 22,688 Revolving Loan, secured by nine properties LIBOR + 4.95% 6.16 % April 2018 73,616 73,616 73,616 Courtyard - Parsippany LIBOR + 3.50% 4.56 % August 2018 7,126 7,240 7,431 Hyatt – New Orleans LIBOR + 3.75% December 2020 18,000 18,000 - Residence Inn – Needham LIBOR + 3.75% (subject to a 5.18% floor) December 2020 25,000 25,000 - Courtyard – Paso Robles 5.49% 5.49 % November 2023 13,022 14,000 - Residence Inn - Baton Rouge (Repaid in full on July 14, 2017) - - 3,640 Promissory Note, secured by three properties (Repaid in full on July 14, 2017) - - 14,610 Courtyard - Baton Rouge (Matured and repaid in full on May 1, 2017) - - 5,922 Total mortgages payable 5.66 % $ 143,310 $ 144,509 $ 127,907 Less: Deferred financing costs (728 ) (767 ) Total mortgages payable, net $ 143,781 $ 127,140
Schedule of Estimated Contractual Principal Maturities	2018 2019 2020 2021 2022 Thereafter Total Principal maturities $ 87,524 $ 179 $ 43,187 $ 200 $ 211 $ 13,208 $ 144,509 Less: Deferred financing costs (728) Total principal maturiteis, net $ 143,781

Related Party and Other Trans28

Related Party and Other Transactions (Tables)	12 Months Ended
	Dec. 31, 2017
Related Party Transactions [Abstract]
Schedule of Fees to Related Parties	The following table represents the fees incurred associated with the payments to the Company’s Advisor and its affiliates for the periods: 2017 2016 2015 Acquisition fees $ 936 $ - $ - Asset management fees 2,226 2,389 2,032 Development fees - 59 20 Total $ 3,162 $ 2,448 $ 2,052

Quarterly Financial Data (Table

Quarterly Financial Data (Tables)	12 Months Ended
	Dec. 31, 2017
Quarterly Financial Data [Abstract]
Schedule of Quarterly Financial Data	The following table presents selected unaudited quarterly financial data for each quarter during the years ended December 31, 2017 and 2016: 2017 Year ended Quarter ended Quarter ended Quarter ended Quarter ended December 31, December 31, September 30, June 30, March 31, Total revenue $ 73,257 $ 15,654 $ 15,353 $ 21,644 $ 20,606 Operating income/(loss) $ 6,717 $ (763) $ 927 $ 3,629 $ 2,924 Net income/(loss) $ 37,416 $ (2,340) $ 37,070 $ 1,871 $ 815 Less income attributable to noncontrolling interests $ (1,156) $ (3) $ (1,038) $ (73) $ (42) Net income/(loss) applicable to Company's common shares $ 36,260 $ (2,343) $ 36,032 $ 1,798 $ 773 Net income/(loss) per common share, basic and diluted $ 1.98 $ (0.13) $ 1.97 $ 0.10 $ 0.04 2016 Year ended Quarter ended Quarter ended Quarter ended Quarter ended December 31, December 31, September 30, June 30, March 31, Total revenue $ 83,421 $ 19,986 $ 22,195 $ 21,351 $ 19,889 Operating income $ 12,590 $ 2,328 $ 4,003 $ 3,924 $ 2,335 Net income $ 6,242 $ 580 $ 2,265 $ 2,396 $ 1,001 Less (income)/loss attributable to noncontrolling interests (297) (114) (111) (75) 3 Net income applicable to Company's common shares $ 5,945 $ 466 $ 2,154 $ 2,321 $ 1,004 Net income per common share, basic and diluted $ 0.32 $ 0.03 $ 0.12 $ 0.13 $ 0.05

Organization (Details Textual)

Organization (Details Textual) $ / shares in Units, $ in Thousands	1 Months Ended	12 Months Ended						36 Months Ended
	May 20, 2008USD ($)$ / sharesshares	Dec. 31, 2017USD ($)shares	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2012USD ($)shares	Dec. 31, 2011USD ($)shares	Dec. 31, 2010USD ($)shares	Dec. 31, 2012USD ($)shares
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Date of incorporation		Apr. 28, 2008
Lightstone REIT, partnership formation date		Apr. 30, 2008
General partner ownership interest		99.00%
Payment for remaining membership interests		$ 0	$ 0	$ 867
Advisor's contribution to operating partnership	$ 2
Partnership units issued	200
Sponsor's cash contribution		$ 12,900
Distribution Reinvestment Plan [Member]
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Shares reserved for issuance | shares		5,900,000
Brownmill, LLC [Member]
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Ownership interest		48.58%
Value of ownership interest		$ 4,800
Subordinate profit interest units | shares		177			9	6	33	48
Aggregate value of subordinate profits		$ 17,700			$ 900	$ 600	$ 3,300	$ 4,800
Advisory Services [Member]
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Stock issued during period, per share | $ / shares	$ 10
Stock issued during period for services, shares | shares	20,000
Stock issued during period for services, value	$ 200
Corporate Joint Venture [Member]
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Ownership interest			100.00%
Corporate Joint Venture [Member] | Hotel Portfolio [Member]
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Payment for remaining membership interests				$ 900
Ownership interest				100.00%

Summary of Significant Accoun31

Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Supplemental disclosure of cash flow information:
Cash paid for interest	$ 6,645	$ 7,155	$ 4,683
Distributions declared	14,937	12,968	12,339
Value of shares issued from distribution reinvestment program	0	0	1,723
Mortgage assumed for acquisition	14,000	0	32,841
Non controlling interest assumed for acquisition	0	0	656
Unrealized (loss)/gain in available for sale securities	607	1,071	(2,716)
Purchase of loan receivable	0	0	547
Non-cash purchase of investment property	0	0	521
Restricted escrow deposits and related liability initially established related to assumption of mortgage payable	$ 2,578	$ 0	$ 0

Summary of Significant Accoun32

Summary of Significant Accounting Policies (Details 1) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Summary of Significant Accounting Policies [Line Items]
Mortgages payable-Carrying Amount	$ 143,781	$ 127,140
Mortgages payable-Estimated Fair Value	$ 144,942	$ 128,052

Summary of Significant Accoun33

Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Summary of Significant Accounting Policies [Line Items]
Percentage general partnership interest in common units operating partnership	99.00%
REIT annual distribution, percent of taxable income	90.00%
Effect of New Accounting Pronouncement or Change in Accounting Principle	$ 1.2	$ 1	$ 2.7

Acquisitions (Details)

Acquisitions (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Business Acquisition [Line Items]
Rental revenue		$ 34,380	$ 40,085	$ 30,155
Net income	[1]	$ 16,051	$ 3,713	$ 3,902
[1]	The Aloft – Rogers, the Fairfield Inn – Jonesboro, the Courtyard - Baton Rouge and the Residence Inn - Baton Rouge, which were included in the LVP REIT Hotels, were disposed of on July 14, 2017.

Acquisitions (Details 1)

Acquisitions (Details 1) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Pro forma rental revenue	[1]	$ 95,242	$ 106,322	$ 101,672
Pro forma net income per Company's common share		$ 38,911	$ 8,873	$ 8,935
Pro forma net income per Company's common share, basic and diluted		$ 2,130	$ 480	$ 480
[1]	The Aloft – Rogers, the Fairfield Inn – Jonesboro, the Courtyard - Baton Rouge and the Residence Inn - Baton Rouge, which were included in the LVP REIT Hotels, were disposed of on July 14, 2017.

Acquisitions (Details Textual)

Acquisitions (Details Textual) - USD ($) $ in Thousands

Dec. 14, 2017

Dec. 07, 2017

Dec. 05, 2017

Dec. 04, 2017

Nov. 06, 2017

Jun. 10, 2015

Feb. 11, 2015

Jan. 29, 2015

Jun. 30, 2015

Dec. 31, 2017

Dec. 31, 2016

Dec. 31, 2015

Business Combination, Separately Recognized Transactions [Line Items]

Membership percentage in joint venture by Company

97.50%

Gain (Loss) on Disposition of Real Estate, Discontinued Operations

$ 37,465

$ 0

$ 0

Parent [Member]

Business Combination, Separately Recognized Transactions [Line Items]

Cash paid

$ 12,600

$ 11,900

$ 1,200

LVP REIT Hotels[] [Member]

Business Combination, Separately Recognized Transactions [Line Items]

Gain (Loss) on Disposition of Real Estate, Discontinued Operations

16,400

Hotel Portfolio [Member] | Parent [Member]

Business Combination, Separately Recognized Transactions [Line Items]

Business Combination, Consideration Transferred

$ 63,000

Courtyard-Parsippany [Member]

Business Combination, Separately Recognized Transactions [Line Items]

Interest rate, Libor plus

3.50%

Debt Instrument, Face Amount

$ 7,800

Residence Inn - Baton Rouge [Member]

Business Combination, Separately Recognized Transactions [Line Items]

Debt Instrument, Face Amount

$ 3,800

Interest Rate

5.36%

Fairfield Inn & Suites by Marriott Marriott, located in Jonesboro, Arkansas [Member]

Business Combination, Separately Recognized Transactions [Line Items]

Amount of noncontrolling interest ownership by noncontrolling owners

$ 700

Noncontrolling interest, ownership percentage by noncontrolling owners

5.00%

Holiday Inn Express - Auburn ,the Aloft - Rogers and the Fairfield Inn - Jonesboro [Member]

Business Combination, Separately Recognized Transactions [Line Items]

Interest rate, Libor plus

4.94%

Courtyard - Baton Rouge [Member]

Business Combination, Separately Recognized Transactions [Line Items]

Amount of noncontrolling interest ownership by noncontrolling owners

$ 700

Interest Rate

5.56%

Noncontrolling interest, ownership percentage by noncontrolling owners

10.00%

LVP REIT Hotels [Member]

Business Combination, Separately Recognized Transactions [Line Items]

Business Combination, Consideration Transferred

$ 24,100

Purchase price allocation, furnitures and fixtures

16,700

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Land

21,000

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Buildings

$ 86,400

LVP REIT Hotels [Member] | Total Noncontrolling Interests [Member]

Business Combination, Separately Recognized Transactions [Line Items]

Business Combination, Consideration Transferred

$ 300

Business acquisition, percentage of voting interests acquired

10.00%

New Orleans Hyatt [Member]

Business Combination, Separately Recognized Transactions [Line Items]

Business Combination, Consideration Transferred

$ 32,000

Business Combination, Acquisition Related Costs

$ 300

Business Combination acquisition Fee Percentage

0.95%

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Land

$ 2,000

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Buildings

27,400

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets

$ 2,600

Business combination capitalization rate of assets acquired, Percentage

7.30%

Residence Inn - Needham [Member]

Business Combination, Separately Recognized Transactions [Line Items]

Business Combination, Consideration Transferred

$ 41,000

Business Combination, Acquisition Related Costs

$ 400

Business Combination acquisition Fee Percentage

0.95%

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Land

$ 4,000

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Buildings

35,300

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets

$ 1,700

Business combination capitalization rate of assets acquired, Percentage

8.40%

Courtyard - Paso Robles [Member]

Business Combination, Separately Recognized Transactions [Line Items]

Business Combination, Consideration Transferred

$ 26,400

Business Combination, Acquisition Related Costs

$ 300

Interest Rate

5.49%

Business Combination acquisition Fee Percentage

0.95%

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Land

$ 3,400

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Buildings

21,100

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets

$ 1,900

Business combination capitalization rate of assets acquired, Percentage

9.00%

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents

$ 12,400

Joint venture [Member]

Business Combination, Separately Recognized Transactions [Line Items]

Business Combination, Consideration Transferred

$ 28,000

Cash paid

12,900

$ 12,200

Debt Instrument, Face Amount

$ 15,100

$ 11,600

$ 15,100

Joint venture [Member] | Hotel Portfolio [Member]

Business Combination, Separately Recognized Transactions [Line Items]

Business Combination, Consideration Transferred

$ 64,600

Business acquisition, percentage of voting interests acquired

100.00%

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%

Joint venture [Member] | Holiday Inn - Auburn [Member]

Business Combination, Separately Recognized Transactions [Line Items]

Business acquisition, percentage of voting interests acquired

100.00%

Joint venture [Member] | Starwood Hotel Group Aloft Hotel Located in Rogers,Arkansas [Member]

Business Combination, Separately Recognized Transactions [Line Items]

Business acquisition, percentage of voting interests acquired

100.00%

Joint venture [Member] | Fairfield Inn & Suites by Marriott Marriott, located in Jonesboro, Arkansas [Member]

Business Combination, Separately Recognized Transactions [Line Items]

Business acquisition, percentage of voting interests acquired

95.00%

Joint venture [Member] | Courtyard - Baton Rouge [Member]

Business Combination, Separately Recognized Transactions [Line Items]

Business Combination, Consideration Transferred

$ 7,400

Business acquisition, percentage of voting interests acquired

90.00%

Cash paid

$ 1,300

Debt Instrument, Face Amount

6,100

$ 6,100

Lightstone I [Member]

Business Combination, Separately Recognized Transactions [Line Items]

Membership percentage in joint venture by Company

2.50%

Cash paid

$ 300

$ 300

$ 100

Lightstone I [Member] | Hotel Portfolio [Member]

Business Combination, Separately Recognized Transactions [Line Items]

Business Combination, Consideration Transferred

$ 1,600

Revolving Credit Facility [Member]

Business Combination, Separately Recognized Transactions [Line Items]

Amount of credit facility

$ 75,000

Amount allowed for borrowings as percentage of loan to value ratio of properties

65.00%

Revolving Credit Facility [Member] | Joint venture [Member] | Hotel Portfolio [Member]

Business Combination, Separately Recognized Transactions [Line Items]

Amount allowed for borrowings as percentage of loan to value ratio of properties

65.00%

Initial loan received

$ 35,000

Revolving Credit Facility [Member] | GE Capital Markets Inc [Member]

Business Combination, Separately Recognized Transactions [Line Items]

Amount of credit facility

$ 60,000

Interest rate, Libor plus

4.95%

Non-Recourse Mortgage Loan [Member] | Residence Inn - Baton Rouge [Member]

Business Combination, Separately Recognized Transactions [Line Items]

Interest rate, Libor plus

3.75%

Debt Instrument, Face Amount

$ 25,000

Non-Recourse Mortgage Loan [Member] | Residence Inn - Baton Rouge [Member] | Maximum [Member]

Business Combination, Separately Recognized Transactions [Line Items]

Debt Instrument, Interest Rate, Effective Percentage

5.18%

Non-Recourse Mortgage Loan [Member] | New Orleans Hyatt [Member]

Business Combination, Separately Recognized Transactions [Line Items]

Interest rate, Libor plus

3.75%

Debt Instrument, Face Amount

$ 18,000

Non-Recourse Mortgage Loan [Member] | New Orleans Hyatt [Member] | Maximum [Member]

Business Combination, Separately Recognized Transactions [Line Items]

Debt Instrument, Interest Rate, Effective Percentage

5.14%

Non-Recourse Mortgage Loan [Member] | Residence Inn - Needham [Member]

Business Combination, Separately Recognized Transactions [Line Items]

Interest rate, Libor plus

3.75%

Debt Instrument, Face Amount

$ 25,000

Non-Recourse Mortgage Loan [Member] | Residence Inn - Needham [Member] | Maximum [Member]

Business Combination, Separately Recognized Transactions [Line Items]

Debt Instrument, Interest Rate, Effective Percentage

5.18%

Non-Recourse Mortgage Loan [Member] | Courtyard - Paso Robles [Member]

Business Combination, Separately Recognized Transactions [Line Items]

Interest rate, Libor plus

5.49%

Debt Instrument, Face Amount

$ 14,000

Interest Rate

5.49%

Disposition of limited servic37

Disposition of limited service hotels (Details Textual) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Jul. 14, 2017	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (Loss) on Disposition of Real Estate, Discontinued Operations		$ 37,465	$ 0	$ 0
Increase (Decrease) of Restricted Investments		$ (842)	$ (3,755)	$ 5,685
Operating Partnership [Member] | Hotel Portfolio [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Group, Including Discontinued Operation, Consideration	$ 101,000
Proceeds from Real Estate and Real Estate Joint Ventures	65,200
Gain (Loss) on Disposition of Real Estate, Discontinued Operations	38,200
Repayments of Secured Debt	34,600
Increase (Decrease) of Restricted Investments	$ 57,200

Investment in Unconsolidated 38

Investment in Unconsolidated Affiliated Entity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Schedule of Equity Method Investments [Line Items]
Equity Method Investments	$ 5,140	$ 5,836
Brownmill, LLC [Member]
Schedule of Equity Method Investments [Line Items]
Date of Ownership	Various
Ownership %	48.58%
Equity Method Investments	$ 5,140	$ 5,836

Investment in Unconsolidated 39

Investment in Unconsolidated Affiliated Entity (Details 1) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Schedule of Equity Method Investments [Line Items]
Company's earnings from investment		$ 212	$ 107	$ (136)
Brownmill, LLC [Member]
Schedule of Equity Method Investments [Line Items]
Revenue		3,521	3,596	3,644
Property operating expenses		1,491	1,592	1,596
Depreciation and amortization		749	846	904
Operating income		1,281	1,158	1,144
Interest expense and other, net		(563)	(590)	(1,018)
Net income		718	568	126
Brownmill, LLC [Member] | Parent [Member]
Schedule of Equity Method Investments [Line Items]
Company's share of net income		349	276	61
Additional depreciation and amortization expense	[1]	(137)	(169)	(197)
Company's earnings from investment		$ 212	$ 107	$ (136)
[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.

Investment in Unconsolidated 40

Investment in Unconsolidated Affiliated Entity (Details 2) - Brownmill, LLC [Member] - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Equity method investment, assets	$ 16,812	$ 17,954
Members' deficiency	1,804	2,953
Total liabilities and members' deficiency	16,812	17,954
Real estate, at cost (net) [Member]
Equity method investment, assets	14,697	15,273
Cash and restricted cash [Member]
Equity method investment, assets	727	1,412
Other assets [Member]
Equity method investment, assets	1,388	1,269
Mortgage payable [Member]
Equity method investment, liabilities	14,485	14,519
Other liabilities [Member]
Equity method investment, liabilities	$ 523	$ 482

Investment in Unconsolidated 41

Investment in Unconsolidated Affiliated Entity (Details Textual) - Brownmill, LLC [Member] - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended						36 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2012
Schedule of Equity Method Investments [Line Items]
Equity investment, percentage ownership purchased				8.60%	5.60%	34.40%	48.60%
Subordinated general partner participation, per unit cost							$ 100,000
Distribution to members	$ 1,900	$ 595	$ 0
Distribution Received from real estate partnership	$ 907	$ 291	0
Subordinated General Partner Participation Units	177			9	6	33	48
Subordinate Profit Interest Value	$ 17,700			$ 900	$ 600	$ 3,300	$ 4,800
Equity Method Investment, Ownership Percentage	48.58%
Debt Instrument, Periodic Payment, Principal			5,500
Repayments of Related Party Debt			$ 2,700

Marketable Securities and Fai42

Marketable Securities and Fair Value Measurements (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Schedule of Available-for-sale Securities [Line Items]
Fair Value	$ 9,778	$ 8,738
Equity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Adjusted Cost	9,989	10,194
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(211)	(1,456)
Fair Value	$ 9,778	$ 8,738

Marketable Securities and Fai43

Marketable Securities and Fair Value Measurements (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Stock Issued During Period, Value, New Issues			$ 80
Equity Securities [Member]
Debt Instrument [Line Items]
Stock Issued During Period, Value, New Issues	$ 8,900	$ 7,800
Proceeds from Issuance or Sale of Equity	8,300	7,600
Gain (Loss) on Sale of Securities, Net	$ 600	$ 200
Margin Loan [Member]
Debt Instrument [Line Items]
Libor	2.42%
Interest rate, Libor plus	0.85%

Notes Receivable from Related44

Notes Receivable from Related Party (Details Textual) - USD ($) $ in Thousands	May 02, 2016	May 15, 2015	Feb. 04, 2015	Jun. 30, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Notes Receivable from Affiliate [Line Items]
Amount of note receivable funded to related party					$ 0	$ 24,200	$ 20,200
Proceeds from Collection of Long-term Loans to Related Parties					$ 0	26,255	$ 18,145
Des Moines Note Receivable [Member]
Notes Receivable from Affiliate [Line Items]
Debt instrument, borrowing period					1 year
Interest rate margin					6.00%
Debt Instrument Origination Fee Amount					$ 100
Lightstone III [Member]
Notes Receivable from Affiliate [Line Items]
Debt Instrument Origination Fee Amount						277
Interest Income, Related Party						$ 606
Lightstone III [Member] | Des Moines Note Receivable [Member]
Notes Receivable from Affiliate [Line Items]
Maximum borrowing capacity			$ 10,000
Amount of note receivable funded to related party			$ 8,200
Lightstone III [Member] | Lansing Note Receivable [Member]
Notes Receivable from Affiliate [Line Items]
Maximum borrowing capacity	$ 8,000
Amount of note receivable funded to related party	$ 6,000
Debt instrument, borrowing period	1 year
Interest rate margin	6.00%
Debt Instrument Origination Fee Amount	$ 80
Lightstone III [Member] | Green Bay Note Receivable [Member]
Notes Receivable from Affiliate [Line Items]
Maximum borrowing capacity	14,500
Amount of note receivable funded to related party	$ 10,200
Debt instrument, borrowing period	1 year
Interest rate margin	6.00%
Debt Instrument Origination Fee Amount	$ 145
Revolving Promissory Note - Durham [Member] | Lightstone III [Member]
Notes Receivable from Affiliate [Line Items]
Maximum borrowing capacity		$ 13,000
Amount of note receivable funded to related party		$ 12,000		$ 8,000
Debt instrument, borrowing period					1 year
Interest rate margin					6.00%
Debt Instrument Origination Fee Amount					$ 130
Proceeds from Collection of Long-term Loans to Related Parties	$ 10,100

Mortgages Payable (Details)

Mortgages Payable (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Jan. 31, 2015	Dec. 31, 2017	Jul. 14, 2017	Dec. 31, 2016	Jun. 30, 2015	Feb. 11, 2015
Debt Instrument [Line Items]
Weighted Average Interest Rate		5.66%
Amount Due at Maturity		$ 143,310
Total mortgages payable		144,509		$ 127,907
Less: Deferred financing costs		(728)		(767)
Total mortgages payable, net		$ 143,781		127,140
Promissory Note, secured by two properties [Member]
Debt Instrument [Line Items]
Interest Rate		4.94%
Weighted Average Interest Rate		4.94%
Maturity Date		Aug. 31, 2018
Amount Due at Maturity		$ 6,546
Total mortgages payable, net		$ 6,653		22,688
Promissory Note, secured by three properties
Debt Instrument [Line Items]
Interest Rate		4.94%
Maturity Date		Jul. 14, 2017
Amount Due at Maturity		$ 0
Total mortgages payable, net		$ 0		14,610
Revolving Loan, secured by nine properties [Member]
Debt Instrument [Line Items]
Variable interest rate basis	Libor plus 4.95%	LIBOR + 4.95%
Weighted Average Interest Rate		6.16%
Maturity Date		Apr. 30, 2018
Amount Due at Maturity		$ 73,616
Total mortgages payable, net		$ 73,616		73,616
Courtyard-Parsippany [Member]
Debt Instrument [Line Items]
Variable interest rate basis		LIBOR + 3.50%
Weighted Average Interest Rate		4.56%
Maturity Date		Aug. 31, 2018
Amount Due at Maturity		$ 7,126
Total mortgages payable, net		$ 7,240		7,431
Residence Inn - Baton Rouge [Member]
Debt Instrument [Line Items]
Interest Rate						5.36%
Maturity Date		Jul. 14, 2017
Amount Due at Maturity		$ 0
Total mortgages payable, net		$ 0	$ 3,600	3,640
Courtyard - Baton Rouge [Member]
Debt Instrument [Line Items]
Interest Rate					5.56%
Maturity Date		May 1, 2017
Amount Due at Maturity		$ 0
Total mortgages payable, net		$ 0		5,922
Hyatt - New Orleans [Member]
Debt Instrument [Line Items]
Variable interest rate basis		LIBOR + 3.75% (subject to a 5.14% floor)
Maturity Date		Dec. 31, 2020
Amount Due at Maturity		$ 18,000
Total mortgages payable, net		$ 18,000		0
Residence Inn - Needham [Member]
Debt Instrument [Line Items]
Variable interest rate basis		LIBOR + 3.75% (subject to a 5.18% floor)
Maturity Date		Dec. 31, 2020
Amount Due at Maturity		$ 25,000
Total mortgages payable, net		$ 25,000		0
Courtyard - Paso Robles [Member]
Debt Instrument [Line Items]
Interest Rate		5.49%
Weighted Average Interest Rate		5.49%
Maturity Date		Nov. 30, 2023
Amount Due at Maturity		$ 13,022
Total mortgages payable, net		$ 14,000		$ 0

Mortgages payable (Details 1)

Mortgages payable (Details 1) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
2,018	$ 87,524
2,019	179
2,020	43,187
2,021	200
2,022	211
Thereafter	13,208
Total	144,509	$ 127,907
Less: Deferred financing costs	(728)	(767)
Total principal maturiteis, net	$ 143,781	$ 127,140

Mortgages payable (Details Text

Mortgages payable (Details Textual) - USD ($) $ in Thousands	Dec. 14, 2017	Dec. 07, 2017	Dec. 04, 2017	Jul. 14, 2017	May 01, 2017	Feb. 11, 2015	Jan. 31, 2015	Dec. 31, 2017	Dec. 31, 2016	Jan. 29, 2015
Debt Instrument [Line Items]
Restricted escrows								$ 5,724	$ 3,488
Secured Debt								143,781	127,140
Repayments of Notes Payable				$ 34,600
Notes Payable				22,400
Secured Promissory Note [Member]
Debt Instrument [Line Items]
Restricted escrows								$ 5,200	3,500
Interest Rate								4.94%
Secured Debt								$ 6,653	22,688
Debt Instrument, Maturity Date								Aug. 31, 2018
Repayments of Notes Payable				16,100
Debt Instrument, Repurchase Amount				15,600
Debt Instrument, Fee Amount				500
Notes Payable				6,800
Secured Promissory Note Two [Member]
Debt Instrument [Line Items]
Monthly payments								$ 142
Interest Rate								4.94%
Secured Debt								$ 0	14,610
Debt Instrument, Maturity Date								Jul. 14, 2017
Repayments of Notes Payable				14,900	$ 5,900
Debt Instrument, Repurchase Amount				14,400
Debt Instrument, Fee Amount				500
Revolving Loan, secured by nine properties [Member]
Debt Instrument [Line Items]
Amount allowed for borrowings as percentage of loan to value ratio of properties										65.00%
Variable interest rate basis							Libor plus 4.95%	LIBOR + 4.95%
Secured Debt								$ 73,616	73,616
Long-term Line of Credit								$ 73,600
Debt Instrument, Maturity Date								Apr. 30, 2018
Debt Instrument, Description of Variable Rate Basis							Libor plus 4.95%	LIBOR + 4.95%
Debt Instrument, Maturity Date, Description								libor plus 3.75%
Line of Credit Facility, Maximum Borrowing Capacity								$ 75,000
Courtyard-Parsippany [Member]
Debt Instrument [Line Items]
Variable interest rate basis								LIBOR + 3.50%
Secured Debt								$ 7,240	7,431
Debt Instrument, Face Amount						$ 7,800
Debt Instrument, Maturity Date								Aug. 31, 2018
Debt Instrument, Description of Variable Rate Basis								LIBOR + 3.50%
Debt Instrument, Basis Spread on Variable Rate						3.50%
Residence Inn - Baton Rouge [Member]
Debt Instrument [Line Items]
Interest Rate						5.36%
Secured Debt				3,600				$ 0	3,640
Debt Instrument, Face Amount						$ 3,800
Debt Instrument, Maturity Date								Jul. 14, 2017
Repayments of Notes Payable				$ 3,600
Residence Inn - Baton Rouge [Member] | Non-Recourse Mortgage Loan [Member]
Debt Instrument [Line Items]
Variable interest rate basis		Libor plus 3.75%
Debt Instrument, Face Amount		$ 25,000
Debt Instrument, Maturity Date		Dec. 31, 2020
Debt Instrument, Description of Variable Rate Basis		Libor plus 3.75%
Debt Instrument, Basis Spread on Variable Rate		3.75%
Residence Inn - Baton Rouge [Member] | Non-Recourse Mortgage Loan [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Effective Percentage		5.18%
New Orleans Hyatt[Member]
Debt Instrument [Line Items]
Variable interest rate basis								LIBOR + 3.75% (subject to a 5.14% floor)
Secured Debt								$ 18,000	0
Debt Instrument, Maturity Date								Dec. 31, 2020
Debt Instrument, Description of Variable Rate Basis								LIBOR + 3.75% (subject to a 5.14% floor)
New Orleans Hyatt[Member] | Non-Recourse Mortgage Loan [Member]
Debt Instrument [Line Items]
Variable interest rate basis			Libor plus 3.75%
Debt Instrument, Face Amount			$ 18,000
Debt Instrument, Maturity Date			Dec. 31, 2020
Debt Instrument, Description of Variable Rate Basis			Libor plus 3.75%
Debt Instrument, Basis Spread on Variable Rate			3.75%
New Orleans Hyatt[Member] | Non-Recourse Mortgage Loan [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Effective Percentage			5.14%
Courtyard - Paso Robles [Member]
Debt Instrument [Line Items]
Interest Rate								5.49%
Secured Debt								$ 14,000	$ 0
Debt Instrument, Maturity Date								Nov. 30, 2023
Courtyard - Paso Robles [Member] | Non-Recourse Mortgage Loan [Member]
Debt Instrument [Line Items]
Interest Rate	5.49%
Debt Instrument, Face Amount	$ 14,000
Debt Instrument, Maturity Date	Nov. 30, 2023
Debt Instrument, Basis Spread on Variable Rate	5.49%
Springhill Suites Peabody and the TownePlace Suites - Little Rock [Member]
Debt Instrument [Line Items]
Secured Debt								$ 6,700
Debt Instrument, Maturity Date								Aug. 6, 2018

Stockholder's Equity (Details T

Stockholder's Equity (Details Textual) - USD ($)	1 Months Ended				12 Months Ended
	Feb. 28, 2017	Sep. 25, 2015	Oct. 31, 2009	Mar. 30, 2009	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Mar. 15, 2017
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	500,000
Distribution Rate Per Day	$ 0.000136986	$ 0.0019178		$ 0.00178082191
Number Of Days Used To Calculate Dividend Per Day	365 days	365 days		365 days
Annualized Distribution Rate	0.50%	6.50%		6.50%
Share Price	$ 10	$ 10		$ 10
Dividends, Cash					$ 14,937,000	$ 12,968,000	$ 12,339,000
Annualized Rate		7.00%
Dividends Payable					$ 3,211,000	$ 3,248,000		$ 6,300,000
Common Stock, Redemption Price Per Share					$ 9.91	$ 9.47
Percentage of Redemption, Common Stock					100.00%
Stock Redeemed or Called During Period, Shares					200,000	500,000
Common Shares [Member]
Stockholders Equity Note [Line Items]
Dividends, Cash					$ 0	$ 0	$ 0
Dividends Payable								2,100,000
Subordinated Profits Interests [Member]
Stockholders Equity Note [Line Items]
Dividends Payable								$ 4,200,000

Noncontrolling Interests (Detai

Noncontrolling Interests (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Noncontrolling Interest [Line Items]
Limited partner units issued	200
Payments to Acquire Equity Method Investments	$ 0	$ 0	$ 867
Lightstone SLP II, LLC [Member]
Noncontrolling Interest [Line Items]
Subordinated profits interests units	177
Corporate Joint Venture [Member]
Noncontrolling Interest [Line Items]
Equity Method Investment, Ownership Percentage		100.00%

Related Party and Other Trans50

Related Party and Other Transactions (Details)	12 Months Ended
	Dec. 31, 2017
Related Party Transaction [Line Items]
Acquisition fees received by the advisor as percentage of acquisition price	0.95%
Maximum percentage of gross revenues allocated to management fees for residential, hospitality and retail properties	5.00%
Asset Management Fees, Percentage Of Average Invested Assets	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%
Minimum percentage of net income required to be reimbursed	25.00%
Maximum percentage of gross revenues allocated to management fees for office and industrial properties	4.50%

Related Party and Other Trans51

Related Party and Other Transactions (Details 1) - $ / shares	Dec. 31, 2017	Feb. 28, 2017	Sep. 25, 2015	Mar. 30, 2009
Related Party Transaction [Line Items]
Share price		$ 10	$ 10	$ 10
Liquidating Stage Distribution, 7% Stockholder Return Threshold [Member]
Related Party Transaction [Line Items]
Distribution due, cumulative rate of return	7.00%
Liquidating Stage Distribution, In Excess of 7% Stockholder Return Threshold [Member]
Related Party Transaction [Line Items]
Distribution due, cumulative rate of return	12.00%
Liquidating Stage Distribution, In Excess of 7% Stockholder Return Threshold [Member] | Stockholder [Member]
Related Party Transaction [Line Items]
Percent of additional distributions payable to related party	70.00%
Liquidating Stage Distribution, In Excess of 7% Stockholder Return Threshold [Member] | Lightstone SLP II, LLC [Member]
Related Party Transaction [Line Items]
Percent of additional distributions payable to related party	30.00%
Liquidating 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%
Liquidating 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%
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, In Excess of 7% Stockholder Return Threshold [Member] | Stockholder [Member]
Related Party Transaction [Line Items]
Percent of additional distributions payable to related party	70.00%
Operating Stage Distribution, In Excess of 7% 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]
Distribution due, cumulative rate of return	12.00%
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	40.00%
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	60.00%

Related Party and Other Trans52

Related Party and Other Transactions (Details 2) - Related Party [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Related Party Transaction [Line Items]
Acquisition fees	$ 936	$ 0	$ 0
Asset management fees	2,226	2,389	2,032
Development fees	0	59	20
Total	$ 3,162	$ 2,448	$ 2,052

Related Party and Other Trans53

Related Party and Other Transactions (Details Textual) - USD ($) $ in Thousands	Mar. 15, 2017	Dec. 31, 2017
Related Party Transaction [Line Items]
Payments for agency fees		$ 159
Limited Liability Company or Limited Partnership, Members or Limited Partners, Ownership Interest		50.00%
Brownmill, LLC [Member]
Related Party Transaction [Line Items]
Equity Method Investment, Ownership Percentage		48.58%
Lightstone SLP II, LLC [Member]
Related Party Transaction [Line Items]
Distributions, annualized rate of return		7.00%
Proceeds from Limited Partnership Investments	$ 4,200	$ 900
Limited Partners' Cumulative Cash Distributions		$ 5,100

Commitments and Contingencies (

Commitments and Contingencies (Details Textual)	12 Months Ended
	Dec. 31, 2017
Commitments And Contingencies [Line Items]
Franchise Fee Percentage	5.00%
Minimum [Member]
Commitments And Contingencies [Line Items]
Management Agreement Term	1 year
Marketing Fund Charge Percent	1.50%
Franchise Agreement Term	15 years
Property Management Fee, Percent Fee	3.00%
Maximum [Member]
Commitments And Contingencies [Line Items]
Management Agreement Term	10 years
Marketing Fund Charge Percent	3.50%
Franchise Agreement Term	20 years
Property Management Fee, Percent Fee	3.50%

Quarterly Financial Data (Detai

Quarterly Financial Data (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Quarterly Financial Information [Line Items]
Total revenue	$ 15,654	$ 15,353	$ 21,644	$ 20,606	$ 19,986	$ 22,195	$ 21,351	$ 19,889	$ 73,257	$ 83,421	$ 71,368
Operating income/(loss)	(763)	927	3,629	2,924	2,328	4,003	3,924	2,335	6,717	12,590	8,904
Net income/(loss)	(2,340)	37,070	1,871	815	580	2,265	2,396	1,001	37,416	6,242	5,457
Less (income)/loss attributable to noncontrolling interests	(3)	(1,038)	(73)	(42)	(114)	(111)	(75)	3	(1,156)	(297)	(144)
Net income/(loss) applicable to Company's common shares	$ (2,343)	$ 36,032	$ 1,798	$ 773	$ 466	$ 2,154	$ 2,321	$ 1,004	$ 36,260	$ 5,945	$ 5,313
Net income/(loss) per common share, basic and diluted	$ (0.13)	$ 1.97	$ 0.1	$ 0.04	$ 0.03	$ 0.12	$ 0.13	$ 0.05	$ 1.98	$ 0.32	$ 0.29

Schedule III Real Estate and 56

Schedule III Real Estate and Accumulated Depreciation (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2017		Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Initial Cost
Encumbrance	[1]	$ 143,781
Land	[2]	39,994
Buildings and Improvements and Furniture and Fixtures	[2]	230,753
Net Costs Capitalized & Impairments Subsequent to Acquisition		20,779
Gross amount at which carried at end of period
Land and Improvements		40,411
Buildings and Improvements and Furniture and Fixtures		251,115
Total		291,526	[3]	$ 257,873	$ 253,646	$ 120,790
Accumulated Depreciation		(26,982)	[4]	$ (25,430)	$ (14,959)	$ (6,111)
Revolving Credit Facility [Member]
Initial Cost
Encumbrance	[1],[5]	73,583
Land	[2],[5]	18,995
Buildings and Improvements and Furniture and Fixtures	[2],[5]	94,875
Net Costs Capitalized & Impairments Subsequent to Acquisition	[5]	9,757
Gross amount at which carried at end of period
Land and Improvements	[5]	19,072
Buildings and Improvements and Furniture and Fixtures	[5]	104,555
Total	[3],[5]	123,627
Accumulated Depreciation	[4]	(13,708)
Vacant Lot Philadelphia, PA [Member]
Initial Cost
Encumbrance	[1]	0
Land	[2]	2,000
Buildings and Improvements and Furniture and Fixtures	[2]	0
Net Costs Capitalized & Impairments Subsequent to Acquisition		0
Gross amount at which carried at end of period
Land and Improvements		2,000
Buildings and Improvements and Furniture and Fixtures		0
Total	[3]	2,000
Accumulated Depreciation	[4]	$ 0
Date Acquired		Dec. 17, 2014
Consolidated Total [Member]
Initial Cost
Encumbrance	[1]	$ 70,198
Land	[2]	20,999
Buildings and Improvements and Furniture and Fixtures	[2]	135,878
Net Costs Capitalized & Impairments Subsequent to Acquisition		11,022
Gross amount at which carried at end of period
Land and Improvements		21,339
Buildings and Improvements and Furniture and Fixtures		146,560
Total	[3]	167,899
Accumulated Depreciation	[4]	(13,274)
Unallocated [Member] | Revolving Credit Facility [Member]
Initial Cost
Encumbrance	[1],[5]	73,583
Land	[2],[5]	0
Buildings and Improvements and Furniture and Fixtures	[2],[5]	0
Net Costs Capitalized & Impairments Subsequent to Acquisition	[5]	0
Gross amount at which carried at end of period
Land and Improvements	[5]	0
Buildings and Improvements and Furniture and Fixtures	[5]	0
Total	[3],[5]	0
Accumulated Depreciation	[4]	0
SpringHill Suites Hotel Peabody, MA [Member]
Initial Cost
Encumbrance	[1],[6]	6,639
Land	[2],[6]	2,126
Buildings and Improvements and Furniture and Fixtures	[2],[6]	10,624
Net Costs Capitalized & Impairments Subsequent to Acquisition	[6]	3,423
Gross amount at which carried at end of period
Land and Improvements	[6]	2,188
Buildings and Improvements and Furniture and Fixtures	[6]	13,985
Total	[3],[6]	16,173
Accumulated Depreciation	[4],[6]	$ (4,624)
Date Acquired	[6]	Jul. 13, 2012
Fairfield Inn East Rutherford, NJ [Member]
Initial Cost
Encumbrance	[1]	$ 0
Land	[2]	2,945
Buildings and Improvements and Furniture and Fixtures	[2]	8,743
Net Costs Capitalized & Impairments Subsequent to Acquisition		5,676
Gross amount at which carried at end of period
Land and Improvements		3,068
Buildings and Improvements and Furniture and Fixtures		14,296
Total	[3]	17,364
Accumulated Depreciation	[4]	$ (3,556)
Date Acquired		Dec. 31, 2012
TownePlace Suites Hotel Little Rock, AR [Member]
Initial Cost
Encumbrance	[1],[6]	$ 0
Land	[2],[6]	1,037
Buildings and Improvements and Furniture and Fixtures	[2],[6]	5,220
Net Costs Capitalized & Impairments Subsequent to Acquisition	[6]	1,079
Gross amount at which carried at end of period
Land and Improvements	[6]	1,045
Buildings and Improvements and Furniture and Fixtures	[6]	6,291
Total	[3],[6]	7,336
Accumulated Depreciation	[4],[6]	$ (1,432)
Date Acquired	[6]	Jun. 18, 2013
Courtyard Marriott Parsippany, NJ [Member]
Initial Cost
Encumbrance	[1]	$ 7,221
Land	[2]	2,690
Buildings and Improvements and Furniture and Fixtures	[2]	14,310
Net Costs Capitalized & Impairments Subsequent to Acquisition		704
Gross amount at which carried at end of period
Land and Improvements		2,837
Buildings and Improvements and Furniture and Fixtures		14,867
Total	[3]	17,704
Accumulated Depreciation	[4]	$ (2,198)
Date Acquired		Feb. 11, 2015
Holiday Inn Express Hotel Auburn, AL [Member]
Initial Cost
Encumbrance	[1]	$ 0
Land	[2]	817
Buildings and Improvements and Furniture and Fixtures	[2]	7,241
Net Costs Capitalized & Impairments Subsequent to Acquisition		140
Gross amount at which carried at end of period
Land and Improvements		817
Buildings and Improvements and Furniture and Fixtures		7,381
Total	[3]	8,198
Accumulated Depreciation	[4]	$ (1,112)
Date Acquired		Jun. 10, 2015
Hyatt Place New Orleans, LA [Member]
Initial Cost
Encumbrance	[1]	$ 17,792
Land	[2]	1,957
Buildings and Improvements and Furniture and Fixtures	[2]	30,043
Net Costs Capitalized & Impairments Subsequent to Acquisition		0
Gross amount at which carried at end of period
Land and Improvements		1,957
Buildings and Improvements and Furniture and Fixtures		30,043
Total	[3]	32,000
Accumulated Depreciation	[4]	$ (181)
Date Acquired		Nov. 6, 2017
Residence Inn Needham, MA [Member]
Initial Cost
Encumbrance	[1]	$ 24,769
Land	[2]	4,017
Buildings and Improvements and Furniture and Fixtures	[2]	36,757
Net Costs Capitalized & Impairments Subsequent to Acquisition		0
Gross amount at which carried at end of period
Land and Improvements		4,017
Buildings and Improvements and Furniture and Fixtures		36,757
Total	[3]	40,774
Accumulated Depreciation	[4]	$ (100)
Date Acquired		Dec. 5, 2017
Courtyard Marriott Paso Robles, CA [Member]
Initial Cost
Encumbrance	[1]	$ 13,777
Land	[2]	3,410
Buildings and Improvements and Furniture and Fixtures	[2]	22,940
Net Costs Capitalized & Impairments Subsequent to Acquisition		0
Gross amount at which carried at end of period
Land and Improvements		3,410
Buildings and Improvements and Furniture and Fixtures		22,940
Total	[3]	26,350
Accumulated Depreciation	[4]	$ (71)
Date Acquired		Dec. 14, 2017
Holiday Inn Express Hotel Opelika, AL [Member] | Revolving Credit Facility [Member]
Initial Cost
Encumbrance	[1],[5]	$ 0
Land	[2],[5]	999
Buildings and Improvements and Furniture and Fixtures	[2],[5]	5,871
Net Costs Capitalized & Impairments Subsequent to Acquisition	[5]	233
Gross amount at which carried at end of period
Land and Improvements	[5]	999
Buildings and Improvements and Furniture and Fixtures	[5]	6,104
Total	[3],[5]	7,103
Accumulated Depreciation	[4],[5]	$ (902)
Date Acquired	[5]	Apr. 1, 2014
Aloft Tucson University Hotel Tucson, AZ [Member] | Revolving Credit Facility [Member]
Initial Cost
Encumbrance	[1],[5]	$ 0
Land	[2],[5]	1,860
Buildings and Improvements and Furniture and Fixtures	[2],[5]	17,140
Net Costs Capitalized & Impairments Subsequent to Acquisition	[5]	183
Gross amount at which carried at end of period
Land and Improvements	[5]	1,860
Buildings and Improvements and Furniture and Fixtures	[5]	17,323
Total	[3],[5]	19,183
Accumulated Depreciation	[4]	$ (2,807)
Date Acquired	[5]	Apr. 8, 2014
Aloft Philadelphia Airport Hotel Philadelphia, PA [Member] | Revolving Credit Facility [Member]
Initial Cost
Encumbrance	[1],[5]	$ 0
Land	[2],[5]	2,595
Buildings and Improvements and Furniture and Fixtures	[2],[5]	11,805
Net Costs Capitalized & Impairments Subsequent to Acquisition	[5]	1,855
Gross amount at which carried at end of period
Land and Improvements	[5]	2,595
Buildings and Improvements and Furniture and Fixtures	[5]	13,660
Total	[3],[5]	16,255
Accumulated Depreciation	[4]	$ (1,638)
Date Acquired	[5]	Dec. 17, 2014
Four Points by Sheraton Hotel Philadelphia, PA [Member] | Revolving Credit Facility [Member]
Initial Cost
Encumbrance	[1],[5]	$ 0
Land	[2],[5]	3,267
Buildings and Improvements and Furniture and Fixtures	[2],[5]	5,733
Net Costs Capitalized & Impairments Subsequent to Acquisition	[5]	3,618
Gross amount at which carried at end of period
Land and Improvements	[5]	3,278
Buildings and Improvements and Furniture and Fixtures	[5]	9,340
Total	[3],[5]	12,618
Accumulated Depreciation	[4]	$ (1,220)
Date Acquired	[5]	Dec. 17, 2014
Courtyard Marriott Willoughby, OH [Member] | Revolving Credit Facility [Member]
Initial Cost
Encumbrance	[1],[5]	$ 0
Land	[2],[5]	1,177
Buildings and Improvements and Furniture and Fixtures	[2],[5]	10,823
Net Costs Capitalized & Impairments Subsequent to Acquisition	[5]	256
Gross amount at which carried at end of period
Land and Improvements	[5]	1,202
Buildings and Improvements and Furniture and Fixtures	[5]	11,054
Total	[3],[5]	12,256
Accumulated Depreciation	[4]	$ (1,596)
Date Acquired	[5]	Jan. 29, 2015
Fairfield Inn Suites Des Moines, IA [Member] | Revolving Credit Facility [Member]
Initial Cost
Encumbrance	[1],[5]	$ 0
Land	[2],[5]	1,648
Buildings and Improvements and Furniture and Fixtures	[2],[5]	6,852
Net Costs Capitalized & Impairments Subsequent to Acquisition	[5]	303
Gross amount at which carried at end of period
Land and Improvements	[5]	1,672
Buildings and Improvements and Furniture and Fixtures	[5]	7,131
Total	[3],[5]	8,803
Accumulated Depreciation	[4]	$ (1,148)
Date Acquired	[5]	Jan. 29, 2015
SpringHill Suites Des Moines, IA [Member] | Revolving Credit Facility [Member]
Initial Cost
Encumbrance	[1],[5]	$ 0
Land	[2],[5]	1,495
Buildings and Improvements and Furniture and Fixtures	[2],[5]	7,905
Net Costs Capitalized & Impairments Subsequent to Acquisition	[5]	203
Gross amount at which carried at end of period
Land and Improvements	[5]	1,512
Buildings and Improvements and Furniture and Fixtures	[5]	8,091
Total	[3],[5]	9,603
Accumulated Depreciation	[4]	$ (1,219)
Date Acquired	[5]	Jan. 29, 2015
Hampton Inn Hotel Miami, FL [Member] | Revolving Credit Facility [Member]
Initial Cost
Encumbrance	[1],[5]	$ 0
Land	[2],[5]	3,571
Buildings and Improvements and Furniture and Fixtures	[2],[5]	15,629
Net Costs Capitalized & Impairments Subsequent to Acquisition	[5]	1,406
Gross amount at which carried at end of period
Land and Improvements	[5]	3,571
Buildings and Improvements and Furniture and Fixtures	[5]	17,035
Total	[3],[5]	20,606
Accumulated Depreciation	[4]	$ (1,649)
Date Acquired	[5]	Jan. 29, 2015
Hampton Inn Hotel Ft Lauderdale, FL [Member] | Revolving Credit Facility [Member]
Initial Cost
Encumbrance	[1],[5]	$ 0
Land	[2],[5]	2,383
Buildings and Improvements and Furniture and Fixtures	[2],[5]	13,117
Net Costs Capitalized & Impairments Subsequent to Acquisition	[5]	1,700
Gross amount at which carried at end of period
Land and Improvements	[5]	2,383
Buildings and Improvements and Furniture and Fixtures	[5]	14,817
Total	[3],[5]	17,200
Accumulated Depreciation	[4]	$ (1,529)
Date Acquired	[5]	Jan. 29, 2015
[1]	Net of debt origination costs.
[2]	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.
[3]	Reconciliation of total real estate owned.
[4]	Reconciliation of accumulated depreciation.
[5]	The Company's Revolving Credit Facility is cross-collateralized by nine hotels.
[6]	The Company's Promissory Note is cross-collateralized by two hotels.

Schedule III Real Estate and 57

Schedule III Real Estate and Accumulated Depreciation (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017		Dec. 31, 2016	Dec. 31, 2015
Balance at beginning of year	$ 257,873		$ 253,646	$ 120,790
Acquisitions, at cost	99,124		0	123,939
Improvements	3,000		4,227	8,917
Disposals	(68,471)		0	0
Balance at end of year	$ 291,526	[1]	$ 257,873	$ 253,646
[1]	Reconciliation of total real estate owned.

Schedule III Real Estate and 58

Schedule III Real Estate and Accumulated Depreciation (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017		Dec. 31, 2016	Dec. 31, 2015
Balance at beginning of year	$ 25,430		$ 14,959	$ 6,111
Depreciation expense	9,849		10,471	8,848
Disposals	(8,297)		0	0
Balance at end of year	$ 26,982	[1]	$ 25,430	$ 14,959
[1]	Reconciliation of accumulated depreciation.

Schedule III Real Estate and 59

Schedule III Real Estate and Accumulated Depreciation (Details 3)	12 Months Ended
	Dec. 31, 2017
Buildings and improvements [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	15 years
Buildings and improvements [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	39 years
Furniture and Fixtures [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Furniture and Fixtures [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	10 years