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Indirect Hotel Operating Expenses (Tables) | 6 Months Ended
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Jun. 30, 2025
Other Income and Expenses [Abstract] |
Summary of Indirect Hotel Operating Expenses | Indirect hotel operating expenses consists of the following expenses incurred by the hotels:
|  | Three Months Ended |  |  | Three Months Ended |  |  | Six Months Ended |  |  | Six Months Ended |
|  | June 30, 2025 |  |  | June 30, 2024 |  |  | June 30, 2025 |  |  | June 30, 2024 |
|  | (unaudited) |  |  | (unaudited) |  |  | (unaudited) |  |  | (unaudited) |
Sales and marketing |  | $ | 4,296,986 |  |  | $ | 4,339,345 |  |  | $ | 8,552,992 |  |  | $ | 8,376,932 |
General and administrative |  |  | 3,825,067 |  |  |  | 3,821,459 |  |  |  | 7,810,847 |  |  |  | 7,559,619 |
Repairs and maintenance |  |  | 2,101,517 |  |  |  | 2,189,231 |  |  |  | 4,403,756 |  |  |  | 4,518,830 |
Utilities |  |  | 1,687,343 |  |  |  | 1,520,775 |  |  |  | 3,356,624 |  |  |  | 2,998,548 |
Property taxes |  |  | 1,556,979 |  |  |  | 1,419,067 |  |  |  | 3,082,713 |  |  |  | 2,960,768 |
Management fees, including incentive |  |  | 1,173,761 |  |  |  | 1,288,046 |  |  |  | 2,582,930 |  |  |  | 2,609,411 |
Franchise fees |  |  | 1,195,555 |  |  |  | 1,250,575 |  |  |  | 2,313,490 |  |  |  | 2,311,937 |
Insurance |  |  | 1,735,931 |  |  |  | 1,405,670 |  |  |  | 3,193,297 |  |  |  | 3,197,386 |
Information and telecommunications |  |  | 934,362 |  |  |  | 954,506 |  |  |  | 1,913,303 |  |  |  | 1,953,110 |
Other |  |  | 332,640 |  |  |  | 308,166 |  |  |  | 619,074 |  |  |  | 495,195 |
Total indirect hotel operating expenses |  | $ | 18,840,141 |  |  | $ | 18,496,840 |  |  | $ | 37,829,026 |  |  | $ | 36,981,736 |

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- Definition Tabular disclosure of each detailed component of other operating costs and expenses that are applicable to sales and revenues, but not included in the cost of sales in the income statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(3)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2 + Details
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