XML 30 R21.htm IDEA: XBRL DOCUMENT v3.22.2
Summary of Significant Accounting Policies - Additional Information (Details)
3 Months Ended 6 Months Ended
Feb. 27, 2020
shares
Jun. 30, 2022
USD ($)
Jun. 30, 2021
USD ($)
Jun. 30, 2022
USD ($)
segment
Jun. 30, 2021
USD ($)
Dec. 31, 2021
USD ($)
Total of VIE and asset acquisition:            
Assets   $ 115,838,618   $ 115,838,618   $ 113,661,378
Liabilities   71,460,617   $ 71,460,617   69,670,409
Number of segment | segment       1    
Carrying value of mortgage notes payable   64,852,899   $ 64,852,899   $ 64,141,964
Uncertain tax positions   0   0    
Revenue   8,313,460 $ 6,274,401 13,419,033 $ 9,186,510  
Reserves for insurance   23,795 0 23,795 0  
Other operating            
Total of VIE and asset acquisition:            
Revenue   807,415 171,210 1,157,014 273,041  
Hilton Garden Inn Providence            
Total of VIE and asset acquisition:            
Number Of Operating Partnership Units Issued | shares 128,124          
Springhill Suites Wilmington, Hotel Indigo Traverse City, and Hilton Garden Inn Providence Hotels [Member] | Other operating            
Total of VIE and asset acquisition:            
Revenue   631,168   846,828    
Procaccianti Convertible Fund, LLC (PCF)            
Total of VIE and asset acquisition:            
Fair value of mortgage notes payable   62,405,451   62,405,451    
Carrying value of mortgage notes payable   65,047,289   65,047,289    
Reserves for property taxes   843,270 939,587 843,270 939,587  
Reserves for capital improvements   2,655,624 2,407,494 2,655,624 2,407,494  
Advance deposits   100,984 $ 189,590 $ 100,984 $ 189,590  
Percentages of annual taxable income to stockholders       90.00%    
Procaccianti Convertible Fund, LLC (PCF) | Variable Interest Entity, Primary Beneficiary            
Total of VIE and asset acquisition:            
Assets   66,297,937   $ 66,297,937    
Liabilities   $ 43,475,150   $ 43,475,150