Investment in Hotel Properties - Schedule of Hotel Properties (Detail) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Total Gross	$ 435,875,967	$ 333,589,913
Less: accumulated depreciation and impairment	(80,912,725)	(73,397,760)
Total Net	354,963,242	260,192,153
Land and Land Improvements [Member]
Property, Plant and Equipment [Line Items]
Total Gross	59,910,212	37,483,400
Buildings and Improvements [Member]
Property, Plant and Equipment [Line Items]
Total Gross	333,720,421	257,343,516
Furniture, Fixtures and Equipment [Member]
Property, Plant and Equipment [Line Items]
Total Gross	$ 42,245,334	$ 38,762,997