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Consolidated Balance Sheets - USD ($)
Sep. 30, 2022
Dec. 31, 2021
ASSETS    
Investment in hotel properties, net $ 367,820,745 $ 375,885,224
Investment in hotel properties held for sale, net   22,870,487
Cash and cash equivalents 23,011,471 13,166,883
Restricted cash 7,006,371 12,411,654
Accounts receivable, net 3,854,267 4,822,187
Prepaid expenses, inventory and other assets 7,332,081 6,894,228
TOTAL ASSETS 409,024,935 436,050,663
LIABILITIES    
Mortgage loans, net 322,727,511 351,170,883
Secured notes, net   19,128,330
Unsecured notes, net 7,554,245 7,609,934
Accounts payable and accrued liabilities 26,370,295 35,960,293
Advance deposits 2,078,782 1,552,942
Dividends and distributions payable 4,082,472 4,125,351
TOTAL LIABILITIES 362,813,305 419,547,733
Commitments and contingencies (See Note 6)
Sotherly Hotels Inc. stockholders’ equity    
Common stock, par value $0.01, 69,000,000 shares authorized, 18,733,680 shares issued and outstanding at September 30, 2022 and 17,441,058 shares issued and outstanding at December 31, 2021. 187,337 174,410
Additional paid-in capital 177,567,019 177,651,954
Unearned ESOP shares (2,931,762) (3,083,398)
Distributions in excess of retained earnings (126,071,951) (153,521,704)
Total Sotherly Hotels Inc. stockholders’ equity 48,790,376 21,261,858
Noncontrolling interest (2,578,746) (4,758,928)
TOTAL EQUITY 46,211,630 16,502,930
TOTAL LIABILITIES AND EQUITY 409,024,935 436,050,663
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: 13,461 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: 11,631 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: 14,641 15,100
Sotherly Hotels LP [Member]    
ASSETS    
Investment in hotel properties, net 367,820,745 375,885,224
Investment in hotel properties held for sale, net   22,870,487
Cash and cash equivalents 23,011,471 13,166,883
Restricted cash 7,006,371 12,411,654
Accounts receivable, net 3,854,267 4,822,187
Loan receivable - affiliate 3,012,450 3,157,172
Prepaid expenses, inventory and other assets 7,332,081 6,894,228
TOTAL ASSETS 412,037,385 439,207,835
LIABILITIES    
Mortgage loans, net 322,727,511 351,170,883
Secured notes, net   19,128,330
Unsecured notes, net 7,554,245 7,609,934
Accounts payable and accrued liabilities 26,370,295 35,960,293
Advance deposits 2,078,782 1,552,942
Dividends and distributions payable 4,082,472 4,125,351
TOTAL LIABILITIES 362,813,305 419,547,733
Commitments and contingencies (See Note 6)
PARTNERS' CAPITAL    
General Partner: 192,904 units and 185,748 units issued and outstanding as of September 30, 2022 and December 31, 2021, respectively. (155,361) (469,805)
Limited Partners: 19,413,229 units and 18,389,030 units issued and outstanding as of September 30, 2022 and December 31, 2021, respectively. (44,041,324) (75,315,469)
TOTAL PARTNERS' CAPITAL 49,224,080 19,660,102
Sotherly Hotels Inc. stockholders’ equity    
TOTAL LIABILITIES AND EQUITY 412,037,385 439,207,835
Sotherly Hotels LP [Member] | 7.875% Series C Cumulative Redeemable Perpetual Preferred Stock [Member]    
PARTNERS' CAPITAL    
Preferred units, 11,000,000 units authorized; 31,571,779 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; 27,504,900 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; $ 34,344,086 $ 35,420,784