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Acquisition of Hotel Properties (Tables) | 12 Months Ended
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Dec. 31, 2020
Business Combinations [Abstract] |
Purchase Price Allocation | The allocation of the purchase price of each of the hotels acquired by the Company, based on the fair value on the date of its acquisition, dollars (in thousands):
|  |  | RI Summerville | Dallas DT | Total
Acquisition date |  |  | 8/27/2018 | 12/5/2018 |
Number of rooms (unaudited) |  |  | 96 | 167 | 263 |
Land |  |  | $ | 2,300 |  | $ | 2,900 |  | $ | 5,200 |
Building and improvements |  |  | 17,060 |  | 42,760 |  | 59,820 |
Furniture, fixtures and equipment |  |  | 1,234 |  | 3,340 |  | 4,574 |
Cash |  |  | — |  | 5 |  | 5 |
Accounts receivable |  |  | — |  | 8 |  | 8 |
Prepaid expenses and other assets |  |  | — |  | 68 |  | 68 |
Accounts payable and accrued expenses |  |  | (9) |  | (33) |  | (42) |
Net assets acquired, net of cash |  |  | $ | 20,585 |  | $ | 49,043 |  | $ | 69,628 |
Revenue and Operating Income of New Hotels Acquired | The amount of revenue and operating income from the hotels acquired in 2018 from their respective date of acquisition through December 31, 2020 is as follows (in thousands):
|  |  | For the Year Ended December 31, 2020 |  | For the Year Ended December 31, 2019 |  |
| Acquisition Date |  | Revenue |  | Operating Income |  | Revenue |  | Operating Income |  |  |  |
Residence Inn Summerville, SC | 8/27/18 |  | $ | 2,968 |  |  | $ | 903 |  |  | $ | 3,645 |  |  | $ | 1,250 |  |  |  |  |
Courtyard Dallas Downtown, TX | 12/05/18 |  | 3,574 |  |  | 838 |  |  | 7,833 |  |  | 2,479 |  |  |  |  |
Total |  |  | $ | 6,542 |  |  | $ | 1,741 |  |  | $ | 11,478 |  |  | $ | 3,729 |  |  |  |  |

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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121647850&loc=d3e4845-128472 + Details
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