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Investment in Hotel Properties, Net (Tables)

9 Months Ended

Sep. 30, 2019

Real Estate [Abstract]

Schedule of Investment in Hotel Properties, Net

Investment in hotel properties, net as of September 30, 2019 and December 31, 2018 consisted of the following:

		September 30, 2019				December 31, 2018
		(unaudited)
Land and land improvements		$	66,055,121			$	64,409,730
Buildings and improvements			437,705,155				424,657,327
Right of use assets			6,576,971				—
Furniture, fixtures and equipment			56,809,756				57,830,987
			567,147,003				546,898,044
Less: accumulated depreciation and impairment			(120,307,423	)			(111,172,230	)
Investment in Hotel Properties, Net		$	446,839,580			$	435,725,814

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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.

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