INVESTMENT IN HOTEL PROPERTIES (Tables)

3 Months Ended

Mar. 31, 2020

INVESTMENT IN HOTEL PROPERTIES

Schedule of investment in hotel properties

	March 31,		December 31,
	2020		2019
Land and land improvements	$	10,314,661	$	7,738,495
Building and building improvements		84,575,847		53,238,276
Furniture, fixtures, and equipment		8,708,360		5,687,249
Construction in progress		451,091		—
Investment in hotel properties, at cost		104,049,959		66,664,020
Less: accumulated depreciation		(2,074,113)		(1,255,712)
Investment in hotel properties, net	$	101,975,846	$	65,408,308

Schedule of acquisitions of hotel properties

The table below outlines the details of the properties acquired during the three months ended March 31, 2020.

2020 Acquisitions
				Number
			Date	of Guest	Purchase		Transaction				%
Hotel	Property Type	Location	Acquired	Rooms	Price		Costs		Total		Interest
Fairfield Inn & Suites (the "Lubbock Fairfield Inn Property")	Limited Service	Lubbock, TX	January 8, 2020	101	$	15,150,000	$	496,431	$	15,646,431	100	%
Homewood Suites (the "Southaven Property")	Extended Stay	Southaven, MS	February 21, 2020	99		20,500,000		445,090		20,945,090	100	%
				200	$	35,650,000	$	941,521	$	36,591,521

The table below outlines the details of the properties acquired during the year ended December 31, 2019.

2019 Acquisitions
				Number
			Date	of Guest	Purchase		Transaction				%
Hotel	Property Type	Location	Acquired	Rooms	Price		Costs		Total		Interest
Hampton Inn & Suites (the "Pineville Property")	Limited Service	Pineville, NC	March 19, 2019	111	$	13,897,358	$	303,744	$	14,201,102	100	%
Hampton Inn (the "Eagan Property")	Limited Service	Eagan, MN	June 19, 2019	122		13,950,000		278,333		14,228,333	100	%
Home2 Suites (the "Prattville Property")	Extended Stay	Prattville, AL	July 11, 2019	90		14,750,000		356,014		15,106,014	100	%
Home2 Suites (the “Lubbock Home2 Property”)	Extended Stay	Lubbock, TX	December 30, 2019	100		14,150,000		284,776		14,434,776	100	%
				423	$	56,747,358	$	1,222,867	$	57,970,225