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Consolidated Balance Sheets - USD ($)
Dec. 31, 2022
Dec. 31, 2021
ASSETS    
Investment in hotel properties, net $ 365,070,725 $ 375,885,224
Investment in hotel properties held for sale, net   22,870,487
Cash and cash equivalents 21,918,680 13,166,883
Restricted cash 5,422,950 12,411,654
Accounts receivable, net 5,844,904 4,822,187
Prepaid expenses, inventory and other assets 8,311,862 6,894,228
TOTAL ASSETS 406,569,121 436,050,663
LIABILITIES    
Mortgage loans, net 320,482,103 351,170,883
Secured notes, net   19,128,330
Unsecured notes 2,545,975 7,609,934
Accounts payable and accrued liabilities 25,704,835 35,960,293
Advance deposits 2,233,013 1,552,942
Dividends and distributions payable 4,082,472 4,125,351
TOTAL LIABILITIES 355,048,398 419,547,733
Commitments and contingencies
Sotherly Hotels Inc. stockholders’ equity    
Common stock, par value $0.01, 69,000,000 shares authorized, 18,951,525 shares issued and outstanding at December 31, 2022 and 17,441,058 shares issued and outstanding at December 31, 2021. 189,515 174,410
Additional paid-in capital 175,611,370 177,651,954
Unearned ESOP shares (2,601,134) (3,083,398)
Distributions in excess of retained earnings (120,985,183) (153,521,704)
Total Sotherly Hotels Inc. stockholders’ equity 52,254,301 21,261,858
Noncontrolling interest (733,578) (4,758,928)
TOTAL EQUITY 51,520,723 16,502,930
TOTAL LIABILITIES AND EQUITY 406,569,121 436,050,663
8.0% Series B Cumulative Redeemable Perpetual Preferred Stock [Member]    
Sotherly Hotels Inc. stockholders’ equity    
Preferred stock, $0.01 par value, 11,000,000 shares authorized: 14,641 15,100
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
Sotherly Hotels LP [Member]    
ASSETS    
Investment in hotel properties, net 365,070,725 375,885,224
Investment in hotel properties held for sale, net   22,870,487
Cash and cash equivalents 21,918,680 13,166,883
Restricted cash 5,422,950 12,411,654
Accounts receivable, net 5,844,904 4,822,187
Loan receivable - affiliate 2,650,526 3,157,172
Prepaid expenses, inventory and other assets 8,311,862 6,894,228
TOTAL ASSETS 409,219,647 439,207,835
LIABILITIES    
Mortgage loans, net 320,482,103 351,170,883
Secured notes, net   19,128,330
Unsecured notes 2,545,975 7,609,934
Accounts payable and accrued liabilities 25,704,835 35,960,293
Advance deposits 2,233,013 1,552,942
Dividends and distributions payable 4,082,472 4,125,351
TOTAL LIABILITIES 355,048,398 419,547,733
Commitments and contingencies
PARTNERS' CAPITAL    
General Partner: 197,767 units and 185,748 units issued and outstanding as of December 31, 2022 and 2021, respectively (106,022) (469,805)
Limited Partners: 19,578,946 units and 18,389,030 units issued and outstanding as of December 31, 2022 and 2021, respectively (39,143,494) (75,315,469)
TOTAL PARTNERS' CAPITAL 54,171,249 19,660,102
Sotherly Hotels Inc. stockholders’ equity    
TOTAL LIABILITIES AND EQUITY 409,219,647 439,207,835
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
Sotherly Hotels LP [Member] | 7.875% Series C Cumulative Redeemable Perpetual Preferred Stock [Member]    
PARTNERS' CAPITAL    
Preferred units, 11,000,000 units authorized; 31,571,778 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; $ 27,504,901 $ 27,549,832