XML 43 R53.htm IDEA: XBRL DOCUMENT v3.3.0.814
Unconsolidated Joint Venture - Summarized Financial Information of Investment (Detail) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Dec. 31, 2014
ASSETS          
Investment in hotel property, net         $ 62,823,142
Cash and cash equivalents         2,153,906
Restricted cash         874,111
Accounts receivable         328,755
Prepaid expenses, inventory and other assets         1,489,479
TOTAL ASSETS         67,669,393
LIABILITIES          
Mortgage loan, net         57,000,000
Accounts payable and other accrued liabilities         2,195,613
Accounts payable and other accrued liabilities, member         146,836
Advance deposits         398,695
TOTAL LIABILITIES         59,741,144
TOTAL MEMBERS’ EQUITY         7,928,249
TOTAL LIABILITIES AND MEMBERS’ EQUITY         $ 67,669,393
Revenue          
Rooms department $ 1,084,157 $ 2,860,460 $ 10,605,942 $ 11,592,712  
Food and beverage department 239,212 590,816 1,911,950 2,194,154  
Other operating departments 137,483 366,054 880,564 1,068,421  
Total revenue 1,460,852 3,817,330 13,398,456 14,855,287  
Hotel operating expenses          
Rooms department 262,070 788,569 2,071,436 2,471,048  
Food and beverage department 185,976 516,777 1,442,145 1,696,364  
Other operating departments 67,190 176,520 388,087 502,967  
Indirect 648,430 1,663,202 3,991,773 5,270,113  
Total hotel operating expenses 1,163,666 3,145,068 7,893,441 9,940,492  
Depreciation and amortization 148,134 619,164 1,037,113 1,867,706  
General and administrative 36,944 63,254 1,060,687 296,850  
Total operating expenses 1,348,744 3,827,486 9,991,241 12,105,048  
Operating income 112,108 (10,156) 3,407,215 2,750,239  
Interest expense (223,218) (597,711) (1,523,455) (1,755,027)  
Net (loss) income $ (111,110) $ (607,867) $ 1,883,760 $ 995,212