Investment in Hotel Properties, Net

6 Months Ended

Jun. 30, 2024

Real Estate [Abstract]

Investment in Hotel Properties, Net

3. Investment in Hotel Properties, Net

Investment in hotel properties, net as of June 30, 2024 and December 31, 2023 consisted of the following:

	June 30, 2024			December 31, 2023
Land and land improvements	$	61,217,987		$	61,114,486
Buildings and improvements		426,106,634			418,833,706
Right of use assets		4,649,280			4,733,406
Furniture, fixtures and equipment		49,552,479			51,501,629
		541,526,380			536,183,227
Less: accumulated depreciation		(190,338,841	)		(181,264,121	)
Investment in Hotel Properties, Net	$	351,187,539		$	354,919,106