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Disposition of Hotel Properties
12 Months Ended
Dec. 31, 2021
Disposition of Hotel Properties [Abstract]  
Disposition of Hotel Properties NOTE 4: DISPOSITION OF HOTEL PROPERTIES As discussed above, following unanimous approval by the Company Board, on September 22, 2021, the Company entered into the Purchase Agreement which provided that the Company would sell its portfolio of 15 hotels for a cash purchase price of $305,000, subject to certain credits and adjustments. On November 19, 2021, the Company completed the Portfolio Sale and simultaneously settled all of the Company’s outstanding debt, resulting in a total gain on sale of $53,039 which is included in net gain/loss on disposition of assets on the consolidated statement of operations. During the year ended December 31, 2020, no hotels were sold. During the year ended December 31, 2019, the Company sold one hotel resulting in a gain of $62 which is included in net gain/loss on disposition of assets on the consolidated statement of operations.