Acquisition of Hotel Properties	12 Months Ended
Dec. 31, 2021
Acquisition of Hotel Properties [Abstract]
Acquisition of Hotel Properties	NOTE 3. ACQUISITION OF HOTEL PROPERTIES The Company did not acquire any properties during the period from January 1, 2021 through December 1, 2021 or the years ended December 31, 2020 or 2019. On February 14, 2020, the Company purchased the remaining 20% interest in the Atlanta JV from our joint venture partner (see detailed description of the Atlanta JV in Note 5) for $7,300 as allowed by the purchase option included in the original joint venture agreements. The $7,300 was funded from the Company’s revolving secured Key Bank credit facility (the “credit facility’), and the Company became the primary obligator on the $34,080 New Term Loan (as defined in Note 5) as part of the transaction. As the Atlanta JV was previously accounted for under the equity method and the acquisition was considered the acquisition of assets, the liabilities assumed as part of the transaction were recorded at fair value while the assets purchased in the transaction were recorded based on a pro-rata fair value allocation of the total available basis, which included the fair value of liabilities assumed, the cash purchase price paid, the balance of the investment in the unconsolidated joint venture at the time of the acquisition, and the acquisition costs incurred. The purchase was recognized as follows: Cash purchase price$ 7,300 Investment in unconsolidated joint venture 3,844 Acquisition costs 122 Total investment in net assets$ 11,266 Cash$ 125 Working capital (462)Land 14,728 Buildings, improvements, and vehicle 37,020 Furniture and equipment 2,432 Debt assumed at acquisition (34,080)Land option liability (1) (8,497)Total allocation to net assets$ 11,266 (1)The purchase agreement includes a provision which permits the seller to purchase the surface parking lot north of the hotel exercisable for approximately seven years at less than market rates. Included in the consolidated statements of operations for the year ended December 31, 2020 is total revenue of $3,449 and total operating losses of $1,773 related to the results of operations for Atlanta Aloft hotel since the date of its acquisition.

Acquisition of Hotel Properties

12 Months Ended

Dec. 31, 2021

Acquisition of Hotel Properties [Abstract]

NOTE 3. ACQUISITION OF HOTEL PROPERTIES The Company did not acquire any properties during the period from January 1, 2021 through December 1, 2021 or the years ended December 31, 2020 or 2019. On February 14, 2020, the Company purchased the remaining 20% interest in the Atlanta JV from our joint venture partner (see detailed description of the Atlanta JV in Note 5) for $7,300 as allowed by the purchase option included in the original joint venture agreements. The $7,300 was funded from the Company’s revolving secured Key Bank credit facility (the “credit facility’), and the Company became the primary obligator on the $34,080 New Term Loan (as defined in Note 5) as part of the transaction. As the Atlanta JV was previously accounted for under the equity method and the acquisition was considered the acquisition of assets, the liabilities assumed as part of the transaction were recorded at fair value while the assets purchased in the transaction were recorded based on a pro-rata fair value allocation of the total available basis, which included the fair value of liabilities assumed, the cash purchase price paid, the balance of the investment in the unconsolidated joint venture at the time of the acquisition, and the acquisition costs incurred. The purchase was recognized as follows: Cash purchase price$ 7,300 Investment in unconsolidated joint venture 3,844 Acquisition costs 122 Total investment in net assets$ 11,266 Cash$ 125 Working capital (462)Land 14,728 Buildings, improvements, and vehicle 37,020 Furniture and equipment 2,432 Debt assumed at acquisition (34,080)Land option liability (1) (8,497)Total allocation to net assets$ 11,266 (1)The purchase agreement includes a provision which permits the seller to purchase the surface parking lot north of the hotel exercisable for approximately seven years at less than market rates. Included in the consolidated statements of operations for the year ended December 31, 2020 is total revenue of $3,449 and total operating losses of $1,773 related to the results of operations for Atlanta Aloft hotel since the date of its acquisition.