XML 48 R33.htm IDEA: XBRL DOCUMENT v3.22.2.2
Organization and Description of Business - Additional Information (Detail)
3 Months Ended 6 Months Ended
Jun. 29, 2022
USD ($)
Jun. 28, 2022
USD ($)
Jun. 10, 2022
USD ($)
Apr. 19, 2022
USD ($)
shares
Apr. 11, 2022
USD ($)
shares
Mar. 31, 2022
USD ($)
shares
Mar. 24, 2022
USD ($)
$ / shares
shares
Feb. 10, 2022
USD ($)
Dec. 09, 2021
USD ($)
$ / shares
shares
Jun. 21, 2021
USD ($)
$ / shares
shares
Jun. 30, 2022
USD ($)
Hotel
Room
$ / shares
shares
Mar. 31, 2022
shares
Mar. 31, 2021
shares
Jun. 30, 2022
USD ($)
Hotel
Room
$ / shares
Dec. 31, 2021
USD ($)
$ / shares
Jun. 30, 2021
USD ($)
Organization Consolidation and Presentation of Financial Statements [Line Items]                                
Date of incorporation                           Aug. 20, 2004    
Rooms in hotel | Room                     2,786     2,786    
Number of independent hotels | Hotel                     3     3    
Date of commencement of business                           Dec. 21, 2004    
Number of hotels acquired before commencement of business | Hotel                           6    
Prepayment amount                           $ 11,700,000    
Cash and cash equivalents                     $ 23,969,135     23,969,135 $ 13,166,883 $ 21,822,863
Restricted cash                     $ 7,383,626     $ 7,383,626   $ 11,709,866
Common stock, par value | $ / shares                     $ 0.01     $ 0.01 $ 0.01  
Commission or remuneration paid       $ 0 $ 0 $ 0 $ 0                  
Interest reserves                     $ 1,600,000     $ 1,600,000    
7.875% Series C Cumulative Redeemable Perpetual Preferred Stock [Member]                                
Organization Consolidation and Presentation of Financial Statements [Line Items]                                
Issuance of common stock, shares | shares             3,000                  
8.0% Series B Cumulative Redeemable Perpetual Preferred Stock [Member]                                
Organization Consolidation and Presentation of Financial Statements [Line Items]                                
Issuance of common stock, shares | shares             7,000                  
Series B Preferred Stock [Member]                                
Organization Consolidation and Presentation of Financial Statements [Line Items]                                
Issuance of common stock, shares | shares       5,000 4,000 5,900                    
Series C Preferred Stock [Member]                                
Organization Consolidation and Presentation of Financial Statements [Line Items]                                
Issuance of common stock, shares | shares       10,600 8,000 6,600                    
Secured Notes [Member]                                
Organization Consolidation and Presentation of Financial Statements [Line Items]                                
Exit fee $ 2,600,000                              
Accrued interest paid 20,000.00                              
Interest reserves 500,000                   1,100,000     1,100,000    
Payment of secured notes with cash in hand 200,000                              
Payment to investors 8,300,000                              
Principal payments $ 5,600,000                              
Double Tree by Hilton Raleigh Brownstone University Hotel [Member]                                
Organization Consolidation and Presentation of Financial Statements [Line Items]                                
Proceeds from sale of hotel property     $ 18,600,000                          
Net proceeds from from sale of hotel property     19,800,000                          
Principal payment of preferred stock     13,300,000                          
Accrued interest paid     200,000                          
Double Tree by Hilton Raleigh Brownstone University Hotel [Member] | Secured Notes [Member]                                
Organization Consolidation and Presentation of Financial Statements [Line Items]                                
Exit fee     $ 6,300,000                          
Exit fee [Member]                                
Organization Consolidation and Presentation of Financial Statements [Line Items]                                
Interest reserves                     $ 500,000     $ 500,000    
Sheraton Louisville Riverside [Member]                                
Organization Consolidation and Presentation of Financial Statements [Line Items]                                
Proceeds from sale of hotel property               $ 11,500,000                
Net proceeds from from sale of hotel property               $ 0                
Common Stock [Member]                                
Organization Consolidation and Presentation of Financial Statements [Line Items]                                
Issuance of common stock, shares | shares       153,504 116,640 120,875 96,900       37,428 175,268 136,281      
Common stock, par value | $ / shares             $ 0.01                  
Note Modification Agreement [Member] | Mortgage Loans [Member] | SOFR [Member]                                
Organization Consolidation and Presentation of Financial Statements [Line Items]                                
Excess Interest rate on mortgage debt   2.75%                            
Note Modification Agreement [Member] | Mortgage Loans [Member] | Hotel Alba Tampa [Member]                                
Organization Consolidation and Presentation of Financial Statements [Line Items]                                
Extended maturity date   Jun. 30, 2025                            
Extended maturity period   2 years                            
Increased principal balance   $ 25,000,000.0                            
Fixed interest rate   2.75%                            
Amortization Period   25 years                            
Amortization payments   $ 40,600                            
Operating Partnership guaranteed   12,500,000                            
Change in guaranty due to performance milestones   $ 6,250,000                            
Operating Partnership [Member]                                
Organization Consolidation and Presentation of Financial Statements [Line Items]                                
Percentage of operating partnership owned                     94.40%     94.40%    
Commercial Unit of Hyde Resort & Residences and Hyde Beach House Resort & Residences [Member]                                
Organization Consolidation and Presentation of Financial Statements [Line Items]                                
Investment in number of hotels | Hotel                     2     2    
Hilton, DoubleTree and Hyatt Brands [Member]                                
Organization Consolidation and Presentation of Financial Statements [Line Items]                                
Number of hotels | Hotel                           7    
Palogic [Member]                                
Organization Consolidation and Presentation of Financial Statements [Line Items]                                
Common stock, par value | $ / shares                 $ 0.01              
Commission or remuneration paid                 $ 0              
Palogic [Member] | 7.875% Series C Cumulative Redeemable Perpetual Preferred Stock [Member]                                
Organization Consolidation and Presentation of Financial Statements [Line Items]                                
Issuance of common stock, shares | shares                 75,000              
Palogic [Member] | Common Stock [Member]                                
Organization Consolidation and Presentation of Financial Statements [Line Items]                                
Issuance of common stock, shares | shares                 620,919              
Palogic [Member] | Share Exchange Agreement [Member]                                
Organization Consolidation and Presentation of Financial Statements [Line Items]                                
Common stock, par value | $ / shares                   $ 0.01            
Commission or remuneration paid                   $ 0            
Palogic [Member] | Share Exchange Agreement [Member] | 8.0% Series B Cumulative Redeemable Perpetual Preferred Units [Member]                                
Organization Consolidation and Presentation of Financial Statements [Line Items]                                
Issuance of common stock, shares | shares                   100,000            
Palogic [Member] | Share Exchange Agreement [Member] | 7.875% Series C Cumulative Redeemable Perpetual Preferred Stock [Member]                                
Organization Consolidation and Presentation of Financial Statements [Line Items]                                
Issuance of common stock, shares | shares                   85,000            
Palogic [Member] | Share Exchange Agreement [Member] | 8.25% Series D Cumulative Redeemable Perpetual Preferred Stock [Member]                                
Organization Consolidation and Presentation of Financial Statements [Line Items]                                
Issuance of common stock, shares | shares                   35,000            
Palogic [Member] | Share Exchange Agreement [Member] | Common Stock [Member]                                
Organization Consolidation and Presentation of Financial Statements [Line Items]                                
Issuance of common stock, shares | shares                   1,542,727