XML 87 R41.htm IDEA: XBRL DOCUMENT v3.20.1
Agreements and Transactions with Related Parties - Narratives (Details)
3 Months Ended 12 Months Ended
Jan. 15, 2020
USD ($)
Oct. 25, 2019
USD ($)
Oct. 01, 2019
USD ($)
property
Oct. 19, 2017
USD ($)
Mar. 31, 2020
USD ($)
shares
Dec. 31, 2019
USD ($)
property
investment
shares
Dec. 31, 2018
USD ($)
shares
Dec. 31, 2017
USD ($)
Sep. 30, 2017
Apr. 30, 2017
$ / shares
Mar. 31, 2016
$ / shares
Related Party Transaction                      
Percentage of fees earned by advisor paid to subadvisor           25.00%          
Subordinated incentive distribution           30.00%          
Percentage of asset management fees           0.55%          
Percentage of subordinated disposition fees           1.50%          
Loan refinancing fee, percentage           1.00%          
Acquisition fees to affiliates settled           $ 10,700,000 $ 10,400,000 $ 8,300,000      
Percentage of available cash distribution to advisor           10.00%          
Selling commission and dealer manager fees paid               13,200,000      
Underwriting compensation limit           10.00%          
Distribution and shareholder servicing fee charged to shareholders equity               9,000,000      
Payment of distributions and shareholder servicing fees           $ 5,600,000 5,800,000 1,500,000      
Cumulative offering costs incurred though inception           $ 9,100,000          
Deferred offering costs               $ 2,800,000      
Payment for business liquidation services   $ 2,000,000                  
Subsequent Event                      
Related Party Transaction                      
Payment for business liquidation services $ 800,000                    
Hotel                      
Related Party Transaction                      
Number of real estate properties | property           12          
CWI 1 and CWI 2 Merged entity                      
Related Party Transaction                      
Payment for business liquidation services   $ 5,000,000                  
CWI 1 and CWI 2 Merged entity | Subsequent Event                      
Related Party Transaction                      
Payment for business liquidation services $ 1,950,000                    
CWI 1 and CWI 2 Merged entity | CEO                      
Related Party Transaction                      
Watermark commitment agreement     $ 6,950,000                
W.P. Carey | Hotel                      
Related Party Transaction                      
Number of real estate properties | property     2                
W.P. Carey | CWI 1 and CWI 2 Merged entity | Plan | Subsequent Event                      
Related Party Transaction                      
Value of shares issued as consideration         $ 97,400,000            
CWI | Carey Watermark Investors 2 Operating Partnership | CWI 1 and CWI 2 Merged entity | Plan | Subsequent Event                      
Related Party Transaction                      
Value of shares issued as consideration         $ 27,600,000            
Shares issued as consideration (shares) | shares         2,417,996            
Revolving Credit Facility | Working Capital Facility                      
Related Party Transaction                      
Line of credit maximum borrowing capacity       $ 25,000,000.0              
Notes payable, related party           $ 0 $ 0        
Revolving Credit Facility | Working Capital Facility | LIBOR                      
Related Party Transaction                      
Spread on variable rate (percent)       1.00%              
Revolving Credit Facility | Working Capital Facility | LIBOR | Forecast                      
Related Party Transaction                      
Spread on variable rate (percent)         3.00%            
Common Class A                      
Related Party Transaction                      
Common shares, outstanding (shares) | shares           32,762,005 31,023,863        
Common Class T                      
Related Party Transaction                      
Common shares, outstanding (shares) | shares           60,623,093 59,006,632        
Preferred stock | W.P. Carey | CWI 1 and CWI 2 Merged entity | Plan | Subsequent Event                      
Related Party Transaction                      
Value of shares issued as consideration         $ 65,000,000            
Common Stock | W.P. Carey | CWI 1 and CWI 2 Merged entity | Plan | Subsequent Event                      
Related Party Transaction                      
Value of shares issued as consideration         $ 32,400,000            
Shares issued as consideration (shares) | shares         2,840,549            
Invested asset                      
Related Party Transaction                      
Percentage of acquisition fees           2.50%          
Contract purchase price | Maximum                      
Related Party Transaction                      
Percentage of acquisition fees           6.00%          
Advisor                      
Related Party Transaction                      
Common shares, outstanding (shares) | shares           3,506,798          
Percentage of common stock held by related party           3.80%          
Carey Financial                      
Related Party Transaction                      
Distribution and shareholder servicing fee charged to shareholders equity             $ 3,600,000        
Carey Financial | Common Class A                      
Related Party Transaction                      
Selling commission fee (usd per share) | $ / shares                   $ 0.84 $ 0.82
Dealer manager fee (usd per share) | $ / shares                   0.36 0.35
Carey Financial | Common Class T                      
Related Party Transaction                      
Selling commission fee (usd per share) | $ / shares                   0.23 0.22
Dealer manager fee (usd per share) | $ / shares                   $ 0.31 $ 0.30
Shareholder servicing fee, percentage                 1.00%    
CWI                      
Related Party Transaction                      
Number of jointly owned investments | investment           3          
Ritz-Carlton Bacara, Santa Barbara Venture                      
Related Party Transaction                      
Percentage of acquisition fees settled in shares           50.00%          
Percentage of acquisition fees settled in cash           50.00%