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Summary of Significant Accounting Policies - Derivative Instruments and Mortgage Debt Measured at Fair Value (Detail) - USD ($)
Dec. 31, 2015
Dec. 31, 2014
Level 1 [Member] | Unsecured Notes [Member]    
Derivatives Fair Value [Line Items]    
Debt instruments measured at fair value $ (54,238,600) $ (53,816,320)
Level 2 [Member] | Interest Rate Cap [Member]    
Derivatives Fair Value [Line Items]    
Interest rate cap 70,981  
Level 2 [Member] | Mortgage Loans [Member]    
Derivatives Fair Value [Line Items]    
Debt instruments measured at fair value (272,933,327) (209,994,659)
Investment In Hotel Property, Net [Member] | Level 3 [Member]    
Derivatives Fair Value [Line Items]    
Investment in hotel property, net $ 5,700,762 $ 6,396,787