XML 25 R2.htm IDEA: XBRL DOCUMENT v3.6.0.2
Consolidated Balance Sheets - USD ($)
Dec. 31, 2016
Dec. 31, 2015
ASSETS    
Investment in hotel properties, net $ 348,593,912 $ 354,963,242
Investment in hotel properties held for sale, net 5,333,000  
Cash and cash equivalents 31,766,775 11,493,914
Restricted cash 4,596,145 5,793,840
Accounts receivable, net 4,127,748 4,071,175
Accounts receivable-affiliate 4,175 226,552
Loan proceeds receivable   2,600,711
Prepaid expenses, inventory and other assets 4,648,469 4,432,431
Deferred income taxes 6,949,340 5,390,374
TOTAL ASSETS 406,019,564 388,972,239
LIABILITIES    
Mortgage loans, net 282,708,289 270,331,724
Unsecured notes, net 24,308,713 50,460,106
Accounts payable and accrued expenses 12,970,960 12,334,878
Advance deposits 2,315,787 1,651,840
Dividends and distributions payable 2,376,527 1,335,323
TOTAL LIABILITIES 324,680,276 336,113,871
Commitments and contingencies (See Note 6)
Sotherly Hotels Inc. stockholders’ equity    
8% Series B Cumulative Redeemable Perpetual Preferred stock, par value $0.01, 11,000,000 shares authorized, liquidation preference $25 per share, 1,610,000 shares and 0 shares issued and outstanding at December 31, 2016 and 2015, respectively 16,100  
Common stock, par value $0.01, 49,000,000 shares authorized, 14,468,551 shares and 14,490,714 shares issued and outstanding at December 31, 2016 and 2015, respectively 144,685 144,907
Additional paid in capital 118,395,082 82,749,058
Distributions in excess of retained earnings (39,545,754) (33,890,834)
Total Sotherly Hotels Inc. stockholders’ equity 79,010,113 49,003,131
Noncontrolling interest 2,329,175 3,855,237
TOTAL EQUITY 81,339,288 52,858,368
TOTAL LIABILITIES AND EQUITY 406,019,564 388,972,239
Sotherly Hotels LP [Member]    
ASSETS    
Investment in hotel properties, net 348,593,912 354,963,242
Investment in hotel properties held for sale, net 5,333,000  
Cash and cash equivalents 31,766,775 11,493,914
Restricted cash 4,596,145 5,793,840
Accounts receivable, net 4,127,748 4,071,175
Accounts receivable-affiliate 4,175 226,552
Loan proceeds receivable   2,600,711
Prepaid expenses, inventory and other assets 4,648,469 4,432,431
Deferred income taxes 6,949,340 5,390,374
TOTAL ASSETS 406,019,564 388,972,239
LIABILITIES    
Mortgage loans, net 282,708,289 270,331,724
Unsecured notes, net 24,308,713 50,460,106
Accounts payable and accrued expenses 12,970,960 12,334,878
Advance deposits 2,315,787 1,651,840
Dividends and distributions payable 2,376,527 1,335,323
TOTAL LIABILITIES 324,680,276 336,113,871
Commitments and contingencies (See Note 6)
Sotherly Hotels Inc. stockholders’ equity    
TOTAL LIABILITIES AND EQUITY 406,019,564 388,972,239
PARTNERS’ CAPITAL    
8% Series B Cumulative Redeemable Perpetual Preferred partnership units, liquidation preference $25 per unit, 1,610,000 units and 0 units issued and outstanding at December 31, 2016 and 2015, respectively 37,766,531  
General Partner: 162,467 units and 166,915 units issued and outstanding as of December 31, 2016 and 2015, respectively 681,389 774,295
Limited Partners: 16,084,224 units and 16,524,626 units issued and outstanding as of December 31, 2016 and 2015, respectively 42,891,368 52,084,073
TOTAL PARTNERS’ CAPITAL $ 81,339,288 $ 52,858,368