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Segment Information (Tables) | 6 Months Ended
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Jun. 30, 2025
Segment Reporting [Abstract] |
Summary of Information About Profit or Loss for Hotel Segment | The following table presents information about profit or loss for the hotel segment:
|  | For the Three Months Ended June 30, |  |  | For the Six Months Ended June 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
REVENUE |  |  |  |  |  |  |  |  |  |  |  |
Rooms department |  | $ | 32,537,497 |  |  | $ | 34,575,890 |  |  | $ | 63,837,998 |  |  | $ | 64,315,546 |
Food and beverage department |  |  | 9,597,210 |  |  |  | 9,901,554 |  |  |  | 19,749,070 |  |  |  | 19,654,003 |
Other operating departments |  |  | 6,659,436 |  |  |  | 6,216,923 |  |  |  | 13,519,419 |  |  |  | 13,273,249 |
Total revenue |  |  | 48,794,143 |  |  |  | 50,694,367 |  |  |  | 97,106,487 |  |  |  | 97,242,798 |
EXPENSES |  |  |  |  |  |  |  |  |  |  |  |
Hotel operating expenses |  |  |  |  |  |  |  |  |  |  |  |
Rooms department |  |  | 7,030,115 |  |  |  | 7,452,407 |  |  |  | 13,870,960 |  |  |  | 14,004,590 |
Food and beverage department |  |  | 6,576,018 |  |  |  | 6,541,720 |  |  |  | 13,532,539 |  |  |  | 13,006,575 |
Other operating departments |  |  | 2,455,516 |  |  |  | 2,505,721 |  |  |  | 5,060,808 |  |  |  | 5,191,863 |
Indirect |  |  | 18,840,141 |  |  |  | 18,496,840 |  |  |  | 37,829,026 |  |  |  | 36,981,736 |
Total hotel operating expenses |  |  | 34,901,790 |  |  |  | 34,996,688 |  |  |  | 70,293,333 |  |  |  | 69,184,764 |
Hotel EBITDA |  | $ | 13,892,353 |  |  | $ | 15,697,679 |  |  | $ | 26,813,154 |  |  | $ | 28,058,034 |
Schedule of Reconciliation of Hotel Segment Profit and Loss to Company's Consolidated Totals | The following table provides a reconciliation of the hotel segment profit and loss to the Company’s consolidated totals:
|  | For the Three Months Ended June 30, |  |  | For the Six Months Ended June 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Net income |  | $ | 1,556,424 |  |  | $ | 4,664,232 |  |  | $ | 6,289,950 |  |  | $ | 5,987,053 |
Income tax provision |  |  | 14,868 |  |  |  | 17,184 |  |  |  | 18,328 |  |  |  | 35,277 |
Depreciation and amortization |  |  | 5,019,340 |  |  |  | 4,817,523 |  |  |  | 9,938,077 |  |  |  | 9,587,240 |
Corporate general and administrative |  |  | 2,298,261 |  |  |  | 1,580,373 |  |  |  | 4,187,601 |  |  |  | 3,496,898 |
Interest expense |  |  | 5,497,789 |  |  |  | 5,000,995 |  |  |  | 10,945,354 |  |  |  | 9,889,801 |
Interest income |  |  | (66,146 | ) |  |  | (208,102 | ) |  |  | (136,936 | ) |  |  | (422,873 | )
Other income |  |  | (125,430 | ) |  |  | (142,353 | ) |  |  | (252,020 | ) |  |  | (267,230 | )
Loss on early extinguishment of debt |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 241,878 |
Unrealized gain (loss) on hedging activities |  |  | (53,369 | ) |  |  | 84,872 |  |  |  | (53,935 | ) |  |  | (250,573 | )
Gain on sale of assets |  |  | — |  |  |  | (4,400 | ) |  |  | — |  |  |  | (4,400 | )
Gain on involuntary conversion of assets |  |  | (249,384 | ) |  |  | (112,645 | ) |  |  | (4,123,265 | ) |  |  | (235,037 | )
Hotel EBITDA |  | $ | 13,892,353 |  |  | $ | 15,697,679 |  |  | $ | 26,813,154 |  |  | $ | 28,058,034 |
A measure of segment assets is not currently provided to the CODM and has therefore not been included herein.

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- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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