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Acquisition of Hotel Property (Tables)

6 Months Ended

Jun. 30, 2017

Business Combinations [Abstract]

Allocation of Estimated Purchase Price Based on Fair Values

The allocation of the estimated purchase price based on fair values is as follows:

		Hyde Resort & Residences
Land and land improvements		$	500
Buildings and improvements			4,309,500
Furniture, fixtures and equipment			72,616
Investment in hotel properties			4,382,616
Accrued liabilities and other costs			(866,142	)
Prepaid expenses, inventory and other assets			470,375
Net cash		$	3,986,849

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- References

No definition available.

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- Definition

Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=84161108&loc=d3e4845-128472

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