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Consolidated Balance Sheets - USD ($)
Jun. 30, 2024
Dec. 31, 2023
ASSETS    
Investment in hotel properties, net $ 351,187,539 $ 354,919,106
Cash and cash equivalents 18,904,793 17,101,993
Restricted cash 18,411,015 9,134,347
Accounts receivable, net 5,612,961 5,945,724
Prepaid expenses, inventory and other assets 7,614,368 6,342,310
TOTAL ASSETS 401,730,676 393,443,480
LIABILITIES    
Mortgage loans, net 320,244,252 315,989,194
Unsecured notes 1,141,763 1,536,809
Accounts payable and accrued liabilities 25,831,482 23,315,677
Advance deposits 2,224,149 2,614,981
Dividends and distributions payable 2,088,160 2,088,160
TOTAL LIABILITIES 351,529,806 345,544,821
Commitments and contingencies (See Note 5)
Sotherly Hotels Inc. stockholders’ equity    
Common stock, par value $0.01, 69,000,000 shares authorized, 19,849,165 shares issued and outstanding at June 30, 2024 and 19,696,805 shares issued and outstanding at December 31, 2023. 198,492 196,968
Additional paid-in capital 176,014,888 175,779,222
Unearned ESOP shares (1,697,916) (1,764,507)
Distributions in excess of retained earnings (123,058,616) (125,021,013)
Total Sotherly Hotels Inc. stockholders’ equity 51,496,581 49,230,403
Noncontrolling interest (1,295,711) (1,331,744)
TOTAL EQUITY 50,200,870 47,898,659
TOTAL LIABILITIES AND PARTNERS' CAPITAL 401,730,676 393,443,480
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 14,641
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 13,461
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 11,631
Sotherly Hotels LP [Member]    
ASSETS    
Investment in hotel properties, net 351,187,539 354,919,106
Cash and cash equivalents 18,904,793 17,101,993
Restricted cash 18,411,015 9,134,347
Accounts receivable, net 5,612,961 5,945,724
Loan receivable - affiliate 1,679,135 1,744,532
Prepaid expenses, inventory and other assets 7,614,368 6,342,310
TOTAL ASSETS 403,409,811 395,188,012
LIABILITIES    
Mortgage loans, net 320,244,252 315,989,194
Unsecured notes 1,141,763 1,536,809
Accounts payable and accrued liabilities 25,831,482 23,315,677
Advance deposits 2,224,149 2,614,981
Dividends and distributions payable 2,088,160 2,088,160
TOTAL LIABILITIES 351,529,806 345,544,821
Commitments and contingencies (See Note 5)
PARTNERS' CAPITAL    
General Partner: 206,744 units and 205,220 units issued and outstanding as of June 30, 2024 and December 31, 2023, respectively. (155,317) (171,830)
Limited Partners: 20,006,607 units and 19,855,771 units issued and outstanding as of June 30, 2024 and December 31, 2023, respectively. (41,385,443) (43,605,744)
TOTAL PARTNERS' CAPITAL 51,880,005 49,643,191
Sotherly Hotels Inc. stockholders’ equity    
TOTAL LIABILITIES AND PARTNERS' CAPITAL 403,409,811 395,188,012
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 34,344,086
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 31,571,778
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 $ 27,504,901