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Investment in Hotel Properties
 6 Months Ended
Jun. 30, 2013
Real Estate [Abstract]  
Investment in Hotel Properties

4. Investment in Hotel Properties

Investment in hotel properties as of June 30, 2013 and December 31, 2012 consisted of the following:

 

     June 30 , 2013     December 31, 2012  
     (unaudited)        

Land and land improvements

    $ 19,555,434      $ 19,429,571   

Buildings and improvements

      182,213,649        181,209,101   

Furniture, fixtures and equipment

      30,986,922        33,716,700   
  

 

 

    

 

 

  
     232,756,005        234,355,372   

Less: accumulated depreciation

      (58,037,772 )      (57,927,468 ) 
  

 

 

    

 

 

  
   $ 174,718,233      $ 176,427,904