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Consolidated Balance Sheets - USD ($)
Jun. 30, 2022
Dec. 31, 2021
ASSETS    
Investment in hotel properties, net $ 369,481,882 $ 375,885,224
Investment in hotel properties held for sale, net   22,870,487
Cash and cash equivalents 23,969,135 13,166,883
Restricted cash 7,383,626 12,411,654
Accounts receivable, net 4,088,159 4,822,187
Prepaid expenses, inventory and other assets 8,175,184 6,894,228
TOTAL ASSETS 413,097,986 436,050,663
LIABILITIES    
Mortgage loans, net 325,650,322 351,170,883
Secured notes, net   19,128,330
Unsecured notes, net 7,609,934 7,609,934
Accounts payable and accrued liabilities 29,784,182 35,960,293
Advance deposits 1,891,767 1,552,942
Dividends and distributions payable 4,089,347 4,125,351
TOTAL LIABILITIES 369,025,552 419,547,733
Commitments and contingencies (See Note 6)
Sotherly Hotels Inc. stockholders’ equity    
Common stock, par value $0.01, 69,000,000 shares authorized, 18,206,673 shares issued and outstanding at June 30, 2022 and 17,441,058 shares issued and outstanding at December 31, 2021. 182,067 174,410
Additional paid-in capital 178,066,395 177,651,954
Unearned ESOP shares (2,982,307) (3,083,398)
Distributions in excess of retained earnings (127,843,207) (153,521,704)
Total Sotherly Hotels Inc. stockholders’ equity 47,463,043 21,261,858
Noncontrolling interest (3,390,609) (4,758,928)
TOTAL EQUITY 44,072,434 16,502,930
TOTAL LIABILITIES AND EQUITY 413,097,986 436,050,663
7.875% Series C Cumulative Redeemable Perpetual Preferred Stock [Member]    
Sotherly Hotels Inc. stockholders’ equity    
Preferred stock, $0.01 par value, 11,000,000 shares authorized: 13,564 13,846
8.25% Series D Cumulative Redeemable Perpetual Preferred Stock [Member]    
Sotherly Hotels Inc. stockholders’ equity    
Preferred stock, $0.01 par value, 11,000,000 shares authorized: 11,650 11,650
8.0% Series B Cumulative Redeemable Perpetual Preferred Units [Member]    
Sotherly Hotels Inc. stockholders’ equity    
Preferred stock, $0.01 par value, 11,000,000 shares authorized: 14,881 15,100
Sotherly Hotels LP [Member]    
ASSETS    
Investment in hotel properties, net 369,481,882 375,885,224
Investment in hotel properties held for sale, net   22,870,487
Cash and cash equivalents 23,969,135 13,166,883
Restricted cash 7,383,626 12,411,654
Accounts receivable, net 4,088,159 4,822,187
Loan receivable - affiliate 3,055,389 3,157,172
Prepaid expenses, inventory and other assets 8,175,184 6,894,228
TOTAL ASSETS 416,153,375 439,207,835
LIABILITIES    
Mortgage loans, net 325,650,322 351,170,883
Secured notes, net   19,128,330
Unsecured notes, net 7,609,934 7,609,934
Accounts payable and accrued liabilities 29,784,182 35,960,293
Advance deposits 1,891,767 1,552,942
Dividends and distributions payable 4,100,522 4,125,351
TOTAL LIABILITIES 369,036,727 419,547,733
Commitments and contingencies (See Note 6)
PARTNERS' CAPITAL    
General Partner: 192,904 units and 185,748 units issued and outstanding as of June 30, 2022 and December 31, 2021, respectively. (187,856) (469,805)
Limited Partners: 19,097,489 units and 18,389,030 units issued and outstanding as of June 30, 2022 and December 31, 2021, respectively. (46,965,748) (75,315,469)
TOTAL PARTNERS' CAPITAL 47,116,648 19,660,102
Sotherly Hotels Inc. stockholders’ equity    
TOTAL LIABILITIES AND EQUITY 416,153,375 439,207,835
Sotherly Hotels LP [Member] | 7.875% Series C Cumulative Redeemable Perpetual Preferred Stock [Member]    
PARTNERS' CAPITAL    
Preferred units, 11,000,000 units authorized; 31,813,355 32,474,760
Sotherly Hotels LP [Member] | 8.25% Series D Cumulative Redeemable Perpetual Preferred Stock [Member]    
PARTNERS' CAPITAL    
Preferred units, 11,000,000 units authorized; 27,549,832 27,549,832
Sotherly Hotels LP [Member] | 8.0% Series B Cumulative Redeemable Perpetual Preferred Units [Member]    
PARTNERS' CAPITAL    
Preferred units, 11,000,000 units authorized; $ 34,907,065 $ 35,420,784