XML 44 R2.htm IDEA: XBRL DOCUMENT v2.4.1.9
Consolidated Balance Sheets (USD $)
Mar. 31, 2015
Dec. 31, 2014
ASSETS    
Investment in hotel properties, net $ 261,129,988us-gaap_RealEstateInvestmentPropertyNet $ 260,192,153us-gaap_RealEstateInvestmentPropertyNet
Investment in joint venture 1,856,456us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures 1,982,107us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
Cash and cash equivalents 16,083,091us-gaap_CashAndCashEquivalentsAtCarryingValue 16,634,499us-gaap_CashAndCashEquivalentsAtCarryingValue
Restricted cash 4,218,224us-gaap_RestrictedCashAndCashEquivalents 6,621,864us-gaap_RestrictedCashAndCashEquivalents
Accounts receivable, net 3,716,765us-gaap_AccountsReceivableNet 1,908,762us-gaap_AccountsReceivableNet
Accounts receivable-affiliate 242,214us-gaap_AccountsReceivableRelatedParties 197,674us-gaap_AccountsReceivableRelatedParties
Prepaid expenses, inventory and other assets 4,149,439us-gaap_PrepaidExpenseAndOtherAssets 3,334,401us-gaap_PrepaidExpenseAndOtherAssets
Deferred income taxes 4,039,749us-gaap_DeferredTaxAssetsNet 3,543,295us-gaap_DeferredTaxAssetsNet
Deferred financing costs, net 5,048,275us-gaap_DeferredFinanceCostsNet 5,405,288us-gaap_DeferredFinanceCostsNet
TOTAL ASSETS 300,484,201us-gaap_Assets 299,820,043us-gaap_Assets
LIABILITIES    
Mortgage loans 204,131,986us-gaap_SecuredDebt 205,291,657us-gaap_SecuredDebt
Unsecured notes 52,900,000us-gaap_UnsecuredDebt 52,900,000us-gaap_UnsecuredDebt
Accounts payable and accrued liabilities 13,185,243us-gaap_AccountsPayableAndOtherAccruedLiabilities 12,044,886us-gaap_AccountsPayableAndOtherAccruedLiabilities
Advance deposits 1,772,219us-gaap_CustomerAdvancesAndDeposits 1,220,729us-gaap_CustomerAdvancesAndDeposits
Dividends and distributions payable 921,076us-gaap_DividendsPayableCurrentAndNoncurrent 852,914us-gaap_DividendsPayableCurrentAndNoncurrent
TOTAL LIABILITIES 272,910,524us-gaap_Liabilities 272,310,186us-gaap_Liabilities
Commitments and contingencies      
Sotherly Hotels Inc. stockholders' equity    
Preferred stock, par value $0.01, 972,350 shares authorized, 0 shares issued and outstanding      
Common stock, par value $0.01, 49,000,000 shares authorized, 10,607,032 shares and 10,570,932 shares issued and outstanding at March 31, 2015 and December 31, 2014, respectively 106,070us-gaap_CommonStockValue 105,709us-gaap_CommonStockValue
Additional paid in capital 58,930,475us-gaap_AdditionalPaidInCapitalCommonStock 58,659,799us-gaap_AdditionalPaidInCapitalCommonStock
Distributions in excess of retained earnings (35,555,470)us-gaap_RetainedEarningsAccumulatedDeficit (35,388,313)us-gaap_RetainedEarningsAccumulatedDeficit
Total Sotherly Hotels Inc. stockholders' equity 23,481,075us-gaap_StockholdersEquity 23,377,195us-gaap_StockholdersEquity
Noncontrolling interest 4,092,602us-gaap_MinorityInterest 4,132,662us-gaap_MinorityInterest
TOTAL EQUITY 27,573,677us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest 27,509,857us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
PARTNERS' CAPITAL    
TOTAL LIABILITIES AND EQUITY 300,484,201us-gaap_LiabilitiesAndStockholdersEquity 299,820,043us-gaap_LiabilitiesAndStockholdersEquity
Sotherly Hotels LP [Member]    
ASSETS    
Investment in hotel properties, net 261,129,988us-gaap_RealEstateInvestmentPropertyNet
/ dei_LegalEntityAxis
= soho_SotherlyHotelsLpMember
260,192,153us-gaap_RealEstateInvestmentPropertyNet
/ dei_LegalEntityAxis
= soho_SotherlyHotelsLpMember
Investment in joint venture 1,856,456us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
/ dei_LegalEntityAxis
= soho_SotherlyHotelsLpMember
1,982,107us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
/ dei_LegalEntityAxis
= soho_SotherlyHotelsLpMember
Cash and cash equivalents 16,083,091us-gaap_CashAndCashEquivalentsAtCarryingValue
/ dei_LegalEntityAxis
= soho_SotherlyHotelsLpMember
16,634,499us-gaap_CashAndCashEquivalentsAtCarryingValue
/ dei_LegalEntityAxis
= soho_SotherlyHotelsLpMember
Restricted cash 4,218,224us-gaap_RestrictedCashAndCashEquivalents
/ dei_LegalEntityAxis
= soho_SotherlyHotelsLpMember
6,621,864us-gaap_RestrictedCashAndCashEquivalents
/ dei_LegalEntityAxis
= soho_SotherlyHotelsLpMember
Accounts receivable, net 3,716,765us-gaap_AccountsReceivableNet
/ dei_LegalEntityAxis
= soho_SotherlyHotelsLpMember
1,908,762us-gaap_AccountsReceivableNet
/ dei_LegalEntityAxis
= soho_SotherlyHotelsLpMember
Accounts receivable-affiliate 242,214us-gaap_AccountsReceivableRelatedParties
/ dei_LegalEntityAxis
= soho_SotherlyHotelsLpMember
197,674us-gaap_AccountsReceivableRelatedParties
/ dei_LegalEntityAxis
= soho_SotherlyHotelsLpMember
Prepaid expenses, inventory and other assets 4,149,439us-gaap_PrepaidExpenseAndOtherAssets
/ dei_LegalEntityAxis
= soho_SotherlyHotelsLpMember
3,334,401us-gaap_PrepaidExpenseAndOtherAssets
/ dei_LegalEntityAxis
= soho_SotherlyHotelsLpMember
Deferred income taxes 4,039,749us-gaap_DeferredTaxAssetsNet
/ dei_LegalEntityAxis
= soho_SotherlyHotelsLpMember
3,543,295us-gaap_DeferredTaxAssetsNet
/ dei_LegalEntityAxis
= soho_SotherlyHotelsLpMember
Deferred financing costs, net 5,048,275us-gaap_DeferredFinanceCostsNet
/ dei_LegalEntityAxis
= soho_SotherlyHotelsLpMember
5,405,288us-gaap_DeferredFinanceCostsNet
/ dei_LegalEntityAxis
= soho_SotherlyHotelsLpMember
TOTAL ASSETS 300,484,201us-gaap_Assets
/ dei_LegalEntityAxis
= soho_SotherlyHotelsLpMember
299,820,043us-gaap_Assets
/ dei_LegalEntityAxis
= soho_SotherlyHotelsLpMember
LIABILITIES    
Mortgage loans 204,131,986us-gaap_SecuredDebt
/ dei_LegalEntityAxis
= soho_SotherlyHotelsLpMember
205,291,657us-gaap_SecuredDebt
/ dei_LegalEntityAxis
= soho_SotherlyHotelsLpMember
Unsecured notes 52,900,000us-gaap_UnsecuredDebt
/ dei_LegalEntityAxis
= soho_SotherlyHotelsLpMember
52,900,000us-gaap_UnsecuredDebt
/ dei_LegalEntityAxis
= soho_SotherlyHotelsLpMember
Accounts payable and accrued liabilities 13,185,243us-gaap_AccountsPayableAndOtherAccruedLiabilities
/ dei_LegalEntityAxis
= soho_SotherlyHotelsLpMember
12,044,886us-gaap_AccountsPayableAndOtherAccruedLiabilities
/ dei_LegalEntityAxis
= soho_SotherlyHotelsLpMember
Advance deposits 1,772,219us-gaap_CustomerAdvancesAndDeposits
/ dei_LegalEntityAxis
= soho_SotherlyHotelsLpMember
1,220,729us-gaap_CustomerAdvancesAndDeposits
/ dei_LegalEntityAxis
= soho_SotherlyHotelsLpMember
Dividends and distributions payable 921,076us-gaap_DividendsPayableCurrentAndNoncurrent
/ dei_LegalEntityAxis
= soho_SotherlyHotelsLpMember
852,914us-gaap_DividendsPayableCurrentAndNoncurrent
/ dei_LegalEntityAxis
= soho_SotherlyHotelsLpMember
TOTAL LIABILITIES 272,910,524us-gaap_Liabilities
/ dei_LegalEntityAxis
= soho_SotherlyHotelsLpMember
272,310,186us-gaap_Liabilities
/ dei_LegalEntityAxis
= soho_SotherlyHotelsLpMember
Commitments and contingencies      
PARTNERS' CAPITAL    
General Partner: 131,586 and 131,218 units issued and outstanding as of March 31, 2015 and December 31, 2014, respectively 521,554us-gaap_GeneralPartnersCapitalAccount
/ dei_LegalEntityAxis
= soho_SotherlyHotelsLpMember
520,791us-gaap_GeneralPartnersCapitalAccount
/ dei_LegalEntityAxis
= soho_SotherlyHotelsLpMember
Limited Partners: 13,026,273 and 12,990,541 units issued and outstanding as of March 31, 2015 and December 31, 2014, respectively 27,052,123us-gaap_LimitedPartnersCapitalAccount
/ dei_LegalEntityAxis
= soho_SotherlyHotelsLpMember
26,989,066us-gaap_LimitedPartnersCapitalAccount
/ dei_LegalEntityAxis
= soho_SotherlyHotelsLpMember
TOTAL PARTNERS' CAPITAL 27,573,677us-gaap_PartnersCapital
/ dei_LegalEntityAxis
= soho_SotherlyHotelsLpMember
27,509,857us-gaap_PartnersCapital
/ dei_LegalEntityAxis
= soho_SotherlyHotelsLpMember
TOTAL LIABILITIES AND EQUITY $ 300,484,201us-gaap_LiabilitiesAndStockholdersEquity
/ dei_LegalEntityAxis
= soho_SotherlyHotelsLpMember
$ 299,820,043us-gaap_LiabilitiesAndStockholdersEquity
/ dei_LegalEntityAxis
= soho_SotherlyHotelsLpMember