Investment in Hotel Properties, Net (Tables)

3 Months Ended

Mar. 31, 2022

Real Estate [Abstract]

Schedule of Investment in Hotel Properties, Net

Investment in hotel properties, net as of March 31, 2022 and December 31, 2021 consisted of the following:

	March 31, 2022			December 31, 2021
Land and land improvements	$	60,435,389		$	60,395,168
Buildings and improvements		408,295,947			407,310,530
Right of use assets		5,545,263			5,711,607
Furniture, fixtures and equipment		50,646,914			50,505,902
		524,923,513			523,923,207
Less: accumulated depreciation and impairment		(152,294,047	)		(148,037,983	)
Investment in Hotel Properties, Net	$	372,629,466		$	375,885,224

Schedule of Investment in Hotel Properties Held for Sale, Net

		March 31, 2022			December 31, 2021
Land and land improvements	$		4,610,030		$	5,799,197
Buildings and improvements			14,264,644			36,115,121
Furniture, fixtures and equipment			2,615,731			5,743,949
			21,490,405			47,658,267
Less: accumulated depreciation and impairment			(9,683,869	)		(24,787,780	)
Investment in Hotel Properties Held for Sale, Net	$		11,806,536		$	22,870,487