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Consolidated Statements of Cash Flows
12 Months Ended
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Cash flows from operating activities:      
Net income (loss) $ 33,959,848 $ (28,539,640) $ (53,682,905)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Depreciation and amortization 18,650,336 19,909,226 19,896,772
Impairment of investment in hotel properties, net 0 12,201,461  
Amortization of deferred financing costs 1,293,092 1,029,306 572,696
Amortization of mortgage premium (24,681) (24,681) (24,681)
Gain on involuntary conversion of assets (1,763,320) (588,586) (179,856)
Unrealized (gain) loss on hedging activities (2,918,207) (1,493,841) 986,200
Loss on early extinguishment of debt 5,944,881    
PPP loan forgiveness (4,720,278)    
Gain on sale of assets (30,053,977)    
Loss (gain) on disposal of assets 633,803 (158,286) 136,063
ESOP and stock / unit - based compensation 998,424 689,547 754,111
Changes in assets and liabilities:      
Accounts receivable (1,439,886) (2,640,487) 3,032,703
Prepaid expenses, inventory and other assets (1,597,055) 719,031 (2,197,874)
Deferred income taxes     5,412,084
Accounts payable and other accrued liabilities (12,984,231) 1,630,584 15,152,165
Advance deposits 680,071 (411,131) (821,265)
Accounts receivable - affiliate     (300,153)
Net cash provided by (used in) operating activities 6,658,820 2,322,503 (11,263,940)
Cash flows from investing activities:      
Proceeds from sale of hotel properties 52,403,981    
Improvements and additions to hotel properties (7,964,630) (3,176,841) (4,015,514)
Proceeds from involuntary conversion 2,180,489 588,586 179,856
Proceeds from sale of assets 35,327 200,500 56,677
Net cash provided by (used in) investing activities 46,655,167 (2,387,755) (3,778,981)
Cash flows from financing activities:      
Proceeds from mortgage loans 7,777,475    
Proceeds from secured notes     20,000,000
Proceeds from unsecured notes     10,719,100
Payments on mortgage loans (38,507,799) (6,528,078) (2,609,861)
Payments on secured notes (20,000,000)    
Payments of unsecured notes (461,181) (3,109,166)  
Payments of deferred financing costs (359,389) (19,513) (1,560,680)
Dividends on common stock and distributions paid     (2,000,418)
Preferred dividends paid     (2,188,910)
Net cash (used in ) provided by financing activities (51,550,894) (9,656,757) 22,359,231
Net increase/(decrease) in cash, cash equivalents and restricted cash 1,763,093 (9,722,009) 7,316,310
Cash, cash equivalents and restricted cash at the beginning of the period 25,578,537 35,300,546 27,984,236
Cash, cash equivalents and restricted cash at the end of the period 27,341,630 25,578,537 35,300,546
Supplemental disclosures:      
Cash paid during the period for interest 23,277,738 19,897,847 9,543,748
Cash paid (received) during the period for income taxes 26,000 20,200 (21,078)
Non-cash investing and financing activities:      
Change in amount of improvements to hotel property in accounts payable and accrued liabilities 56,914 353,028 542,102
Cash and cash equivalents 21,918,680 13,166,883 25,297,771
Restricted cash 5,422,950 12,411,654 10,002,775
Cash, cash equivalents and restricted cash at the end of the period 27,341,630 25,578,537 35,300,546
Sotherly Hotels LP [Member]      
Cash flows from operating activities:      
Net income (loss) 33,959,848 (28,539,640) (53,682,905)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Depreciation and amortization 18,650,336 19,909,226 19,896,772
Impairment of investment in hotel properties, net   12,201,461  
Amortization of deferred financing costs 1,293,092 1,029,306 572,696
Amortization of mortgage premium (24,681) (24,681) (24,681)
Gain on involuntary conversion of assets (1,763,320) (588,586) (179,856)
Unrealized (gain) loss on hedging activities (2,918,207) (1,493,841) 986,200
Loss on early extinguishment of debt 5,944,881    
PPP loan forgiveness (4,720,278)    
Gain on sale of assets (30,053,977)    
Loss (gain) on disposal of assets 633,803 (158,286) 136,063
ESOP and stock / unit - based compensation 491,778 100,465 349,217
Changes in assets and liabilities:      
Accounts receivable (1,439,886) (2,640,487) 3,032,703
Prepaid expenses, inventory and other assets (1,597,055) 719,031 (2,197,874)
Deferred income taxes     5,412,084
Accounts payable and other accrued liabilities (12,984,231) 1,630,584 15,152,165
Advance deposits 680,071 (411,131) (821,265)
Accounts receivable - affiliate     (300,153)
Net cash provided by (used in) operating activities 6,152,174 1,733,421 (11,668,834)
Cash flows from investing activities:      
Proceeds from sale of hotel properties 52,403,981    
Improvements and additions to hotel properties (7,964,630) (3,176,841) (4,015,514)
ESOP loan payments received 506,646 589,082 463,376
Proceeds from involuntary conversion 2,180,489 588,586 179,856
Proceeds from sale of assets 35,327 200,500 56,677
Net cash provided by (used in) investing activities 47,161,813 (1,798,673) (3,315,605)
Cash flows from financing activities:      
Proceeds from mortgage loans 7,777,475    
Proceeds from secured notes     20,000,000
Proceeds from unsecured notes     10,719,100
Payments on mortgage loans (38,507,799) (6,528,078) (2,609,861)
Payments on secured notes (20,000,000)    
Payments of unsecured notes (461,181) (3,109,166)  
Payments of deferred financing costs (359,389) (19,513) (1,560,680)
Dividends on common stock and distributions paid     (2,058,900)
Preferred dividends paid     (2,188,910)
Net cash (used in ) provided by financing activities (51,550,894) (9,656,757) 22,300,749
Net increase/(decrease) in cash, cash equivalents and restricted cash 1,763,093 (9,722,009) 7,316,310
Cash, cash equivalents and restricted cash at the beginning of the period 25,578,537 35,300,546 27,984,236
Cash, cash equivalents and restricted cash at the end of the period 27,341,630 25,578,537 35,300,546
Supplemental disclosures:      
Cash paid during the period for interest 23,157,605 19,630,506 9,541,533
Cash paid (received) during the period for income taxes 26,000 20,200 (21,078)
Non-cash investing and financing activities:      
Change in amount of improvements to hotel property in accounts payable and accrued liabilities 56,914 353,028 542,102
Cash and cash equivalents 21,918,680 13,166,883 25,297,771
Restricted cash 5,422,950 12,411,654 10,002,775
Cash, cash equivalents and restricted cash at the end of the period $ 27,341,630 $ 25,578,537 $ 35,300,546