Acquisition of Hotel Properties (Tables)

3 Months Ended

Mar. 31, 2019

Business Combinations And Or Asset Acquisitions [Abstract]

Allocation of Purchase Price Based on Fair Values

The allocations of the respective purchase price are based on their fair value as follows:

	Hyatt Centric Arlington
Land and land improvements	$	190,916
Buildings and improvements		70,369,046
Furniture, fixtures and equipment		6,229,888
Favorable lease and other intangible assets		3,054,812
Investment in hotel properties		79,844,662
Accrued liabilities and other costs		(111,946	)
Prepaid expenses, inventory and other    assets		—
Net cash	$	79,732,716