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Investment in Hotel Properties (Tables)

3 Months Ended

Mar. 31, 2015

Real Estate [Abstract]

Schedule of Hotel Properties

Investment in hotel properties as of March 31, 2015 and December 31, 2014 consisted of the following:

		March 31, 2015				December 31, 2014
		(unaudited)
Land and land improvements		$	37,520,810			$	37,483,400
Buildings and improvements			259,929,770				257,343,516
Furniture, fixtures and equipment			39,961,030				38,762,997
			337,411,610				333,589,913
Less: accumulated depreciation and impairment			(76,281,622	)			(73,397,760	)
		$	261,129,988			$	260,192,153

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- Definition

Tabular disclosure of real estate properties and units in those properties that are included in the discussion of the nature of an entity's operations.

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