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Investment in Hotel Properties, Net | 3 Months Ended
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Mar. 31, 2021
Real Estate [Abstract] |
Investment in Hotel Properties, Net | 3. Investment in Hotel Properties, Net Investment in hotel properties, net as of March 31, 2021 and December 31, 2020 consisted of the following:
|  | March 31, 2021 |  |  | December 31, 2020 |
Land and land improvements |  | $ | 66,088,705 |  |  | $ | 66,088,705 |
Buildings and improvements |  |  | 442,662,629 |  |  |  | 442,063,950 |
Right of use assets |  |  | 6,044,973 |  |  |  | 5,995,438 |
Furniture, fixtures and equipment |  |  | 55,851,072 |  |  |  | 55,796,797 |
|  |  | 570,647,379 |  |  |  | 569,944,891 |
Less: accumulated depreciation and impairment |  |  | (146,966,521 | ) |  |  | (142,120,306 | )
Investment in Hotel Properties, Net |  | $ | 423,680,858 |  |  | $ | 427,824,585 |
Our review of possible impairment as of March 31, 2021 and December 31, 2020, resulted in no impairment on our investment in hotel properties, respectively.

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- Definition The entire disclosure for certain real estate investment financial statements, real estate investment trust operating support agreements, real estate owned, retail land sales, time share transactions, as well as other real estate related disclosures. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 970 -URI http://asc.fasb.org/topic&trid=2156125 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 978 -URI http://asc.fasb.org/topic&trid=2134977 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 976 -URI http://asc.fasb.org/topic&trid=2134846 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 974 -URI http://asc.fasb.org/topic&trid=2156429 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 972 -URI http://asc.fasb.org/topic&trid=2134617 + Details
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