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Acquisition of Hotel Properties (Tables)

3 Months Ended

Mar. 31, 2018

Business Combinations [Abstract]

Allocation of Purchase Price Based on Fair Values

The allocations of the respective purchase prices are based on fair values are as follows:

		Hyatt Centric Arlington (1)				Hyde Resort & Residences
Land and land improvements		$	190,237			$	500
Buildings and improvements			68,600,051				4,309,500
Furniture, fixtures and equipment			7,759,666				72,616
Intangible assets			3,043,947				—
Investment in hotel properties			79,593,901				4,382,616
Accrued liabilities and other costs			—				(866,142	)
Prepaid expenses, inventory and other    assets			885,236				470,375
Net cash		$	80,479,137			$	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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