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Investment in Hotel Properties (Tables) | 9 Months Ended
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Sep. 30, 2015
Real Estate [Abstract] |
Schedule of Hotel Properties | Investment in hotel properties as of September 30, 2015 and December 31, 2014 consisted of the following:
|  | September 30, 2015 |  |  | December 31, 2014 |
|  | (unaudited) |  |  |  |  |
Land and land improvements |  | $ | 59,846,416 |  |  | $ | 37,483,400 |
Buildings and improvements |  |  | 330,213,388 |  |  |  | 257,343,516 |
Furniture, fixtures and equipment |  |  | 41,561,930 |  |  |  | 38,762,997 |
|  |  | 431,621,734 |  |  |  | 333,589,913 |
Less: accumulated depreciation and impairment |  |  | (76,688,573 | ) |  |  | (73,397,760 | )
|  | $ | 354,933,161 |  |  | $ | 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. + References No definition available. + Details
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