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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues        
Total revenues $ 5,545,924 $ 5,887,227 $ 10,517,745 $ 14,163,451
Expenses        
Other property expenses 1,829,792 1,722,693 4,370,181 4,415,922
Property management fees to affiliates 166,461 177,041 315,838 425,866
Corporate general and administrative 254,941 310,610 1,193,363 1,112,934
Other fees to affiliates 143,218 88,358 836,105 263,699
Acquisition costs     72,149  
Depreciation and amortization 783,333 566,107 2,227,895 1,667,979
Total expenses 4,200,946 4,209,776 11,462,892 11,318,357
Loss on acquisition     (133,521)  
Operating income (loss) 1,344,978 1,677,451 (1,078,668) 2,845,094
Interest expense, net (694,148) (559,535) (1,959,017) (1,686,174)
Unrealized gain (loss) on interest rate swap 102,068 (18,543) (68,690) (245,891)
Net income (loss) before income taxes 752,898 1,099,373 (3,106,375) 913,029
Income tax benefit (expense) 5,751 (12,303) (609) 13,121
Net income (loss) 758,649 1,087,070 (3,106,984) 926,150
Net income (loss) attributable to noncontrolling interests 5,067 116,903 (460,645) 617,789
Net income (loss) attributable to common stockholders 753,582 970,167 (2,646,339) 308,361
Class K Common Stock        
Expenses        
Net income (loss) attributable to common stockholders $ 551,926 $ 676,592 $ (1,832,003) $ 254,119
Net income (loss) per common share - basic and diluted (in dollars per share) $ 0.17 $ 0.31 $ (0.57) $ 0.14
Weighted average number of common shares outstanding - basic and diluted (in shares) 3,323,827 2,188,750 3,217,836 1,846,052
Class K-I Common Stock        
Expenses        
Net income (loss) attributable to common stockholders $ 105,687 $ 103,925 $ (346,710) $ 23,969
Net income (loss) per common share - basic and diluted (in dollars per share) $ 0.17 $ 0.31 $ (0.57) $ 0.14
Weighted average number of common shares outstanding - basic and diluted (in shares) 636,468 336,183 609,683 174,002
Class K-T Common Stock        
Expenses        
Net income (loss) attributable to common stockholders $ 7,969 $ 3,796 $ (27,207) $ 767
Net income (loss) per common share - basic and diluted (in dollars per share) $ 0.17 $ 0.31 $ (0.57) $ 0.14
Weighted average number of common shares outstanding - basic and diluted (in shares) 47,989 12,280 47,700 5,489
Class A Common Stock        
Expenses        
Net income (loss) attributable to common stockholders $ 89,238 $ 166,119 $ (306,687) $ 68,398
Net income (loss) per common share - basic and diluted (in dollars per share) $ 0.17 $ 0.31 $ (0.57) $ 0.14
Weighted average number of common shares outstanding - basic and diluted (in shares) 537,410 537,410 537,410 496,970
Class B Common Stock        
Expenses        
Net income (loss) attributable to common stockholders $ (1,238) $ 19,735 $ (133,732) $ (38,892)
Net income (loss) per common share - basic and diluted (in dollars per share) $ (0.01) $ 0.16 $ (1.07) $ (0.31)
Weighted average number of common shares outstanding - basic and diluted (in shares) 125,000 125,000 125,000 125,000
Rooms        
Revenues        
Total revenues $ 4,802,499 $ 4,929,444 $ 9,122,048 $ 12,145,003
Expenses        
Total expenses 743,876 849,288 1,804,090 2,309,268
Food and beverage        
Revenues        
Total revenues 575,168 830,559 1,058,552 1,683,477
Expenses        
Total expenses 279,325 495,679 643,271 1,122,689
Other operating        
Revenues        
Total revenues $ 168,257 $ 127,224 $ 337,145 $ 334,971