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Consolidated Balance Sheets - USD ($)
Dec. 31, 2021
Dec. 31, 2020
ASSETS    
Investment in hotel properties, net $ 375,885,224 $ 427,824,585
Investment in hotel properties held for sale, net 22,870,487  
Cash and cash equivalents 13,166,883 25,297,771
Restricted cash 12,411,654 10,002,775
Accounts receivable, net 4,822,187 2,181,700
Prepaid expenses, inventory and other assets 6,894,228 7,726,980
TOTAL ASSETS 436,050,663 473,033,811
LIABILITIES    
Mortgage loans, net 351,170,883 357,545,977
Secured notes, net 19,128,330 18,694,355
Unsecured notes, net 7,609,934 10,719,100
Accounts payable and accrued liabilities 35,960,293 35,631,931
Advance deposits 1,552,942 1,964,073
Dividends and distributions payable 4,125,351 4,277,070
TOTAL LIABILITIES 419,547,733 428,832,506
Commitments and contingencies (See Note 5)
Sotherly Hotels Inc. stockholders’ equity    
Common stock, par value $0.01, 69,000,000 shares authorized, 17,441,058 shares issued and outstanding at December 31, 2021 and 15,023,850 shares issued and outstanding at December 31, 2020. 174,410 150,238
Additional paid-in capital 177,651,954 180,292,440
Unearned ESOP shares (3,083,398) (3,636,026)
Distributions in excess of retained earnings (153,521,704) (127,300,230)
Total Sotherly Hotels Inc. stockholders’ equity 21,261,858 49,550,068
Noncontrolling interest (4,758,928) (5,348,763)
TOTAL EQUITY 16,502,930 44,201,305
TOTAL LIABILITIES AND EQUITY 436,050,663 473,033,811
Sotherly Hotels LP [Member]    
ASSETS    
Investment in hotel properties, net 375,885,224 427,824,585
Investment in hotel properties held for sale, net 22,870,487  
Cash and cash equivalents 13,166,883 25,297,771
Restricted cash 12,411,654 10,002,775
Accounts receivable, net 4,822,187 2,181,700
Loan receivable - affiliate 3,157,172 3,746,254
Prepaid expenses, inventory and other assets 6,894,228 7,726,980
TOTAL ASSETS 439,207,835 476,780,065
LIABILITIES    
Mortgage loans, net 351,170,883 357,545,977
Secured notes, net 19,128,330 18,694,355
Unsecured notes, net 7,609,934 10,719,100
Accounts payable and accrued liabilities 35,960,293 35,631,931
Advance deposits 1,552,942 1,964,073
Dividends and distributions payable 4,125,351 4,277,070
TOTAL LIABILITIES 419,547,733 428,832,506
Commitments and contingencies (See Note 5)
PARTNERS' CAPITAL    
General Partner: 185,748 units and 161,904 units issued and outstanding as of December 31, 2021 and December 31, 2020, respectively. (469,805) (258,538)
Limited Partners: 18,389,030 units and 16,028,447 units issued and outstanding as of December 31, 2021 and December 31, 2020, respectively. (75,315,469) (54,399,898)
TOTAL PARTNERS' CAPITAL 19,660,102 47,947,559
Sotherly Hotels Inc. stockholders’ equity    
TOTAL LIABILITIES AND EQUITY 439,207,835 476,780,065
Sotherly Hotels LP [Member] | 8% Series B Cumulative Redeemable Perpetual Preferred Units [Member]    
PARTNERS' CAPITAL    
Preferred units, 11,000,000 units authorized; 35,420,784 37,766,531
Sotherly Hotels LP [Member] | 7.875% Series C Cumulative Redeemable Perpetual Preferred Stock [Member]    
PARTNERS' CAPITAL    
Preferred units, 11,000,000 units authorized; 32,474,760 36,461,955
Sotherly Hotels LP [Member] | 8.25% Series D Cumulative Redeemable Perpetual Preferred Stock [Member]    
PARTNERS' CAPITAL    
Preferred units, 11,000,000 units authorized; 27,549,832 28,377,509
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: 15,100 16,100
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: 13,846 15,546
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: $ 11,650 $ 12,000