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Consolidated Balance Sheets - USD ($)
Dec. 31, 2024
Dec. 31, 2023
ASSETS    
Investment in hotel properties, net $ 372,376,626 $ 354,919,106
Cash and cash equivalents 7,327,880 17,101,993
Restricted cash 21,382,595 9,134,347
Accounts receivable, net 7,525,356 5,945,724
Prepaid expenses, inventory and other assets 5,763,463 6,342,310
TOTAL ASSETS 414,375,920 393,443,480
LIABILITIES    
Mortgage loans, net 316,516,148 315,989,194
Unsecured notes 658,766 1,536,809
Finance lease liabilities 23,201,751 54,354
Accounts payable and accrued liabilities 26,577,504 23,315,677
Advance deposits 3,734,825 2,614,981
Dividends and distributions payable 2,088,160 2,088,160
TOTAL LIABILITIES 372,777,154 345,544,821
Commitments and contingencies
Sotherly Hotels Inc. stockholders’ equity    
Common stock, par value $0.01, 69,000,000 shares authorized, 19,849,165 shares issued and outstanding at December 31, 2024 and 19,696,805 shares issued and outstanding at December 31, 2023. 198,492 196,968
Additional paid-in capital 175,372,798 175,779,222
Unearned ESOP shares (862,107) (1,764,507)
Distributions in excess of retained earnings (131,695,891) (125,021,013)
Total Sotherly Hotels Inc. stockholders’ equity 43,053,025 49,230,403
Noncontrolling interest (1,454,259) (1,331,744)
TOTAL EQUITY 41,598,766 47,898,659
TOTAL LIABILITIES AND EQUITY 414,375,920 393,443,480
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 372,376,626 354,919,106
Cash and cash equivalents 7,327,880 17,101,993
Restricted cash 21,382,595 9,134,347
Accounts receivable, net 7,525,356 5,945,724
Loan receivable - affiliate 807,160 1,744,532
Prepaid expenses, inventory and other assets 5,763,463 6,342,310
TOTAL ASSETS 415,183,080 395,188,012
LIABILITIES    
Mortgage loans, net 316,516,148 315,989,194
Unsecured notes 658,766 1,536,809
Finance lease liabilities 23,201,751  
Accounts payable and accrued liabilities 26,577,504 23,315,677
Advance deposits 3,734,825 2,614,981
Dividends and distributions payable 2,088,160 2,088,160
TOTAL LIABILITIES 372,777,154 345,544,821
Commitments and contingencies
PARTNERS' CAPITAL    
General Partner: 206,744 units and 205,220 units issued and outstanding as of December 31, 2024 and December 31, 2023, respectively. (234,736) (171,830)
Limited Partners: 20,006,607 units and 19,855,771 units issued and outstanding as of December 31, 2024 and December 31, 2023, respectively. (50,780,103) (43,605,744)
TOTAL PARTNERS' CAPITAL 42,405,926 49,643,191
Sotherly Hotels Inc. stockholders’ equity    
TOTAL LIABILITIES AND EQUITY 415,183,080 395,188,012
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