Commitments and Contingencies	12 Months Ended
Dec. 31, 2021
Commitments and Contingencies [Abstract]
Commitments and Contingencies	NOTE 16. COMMITMENTS AND CONTINGENCIES Management Agreements During the period of our hotel ownership, our TRS engaged eligible independent contractors as property managers for each of our hotels in accordance with the requirements for qualification as a REIT. The hotel management agreements provided that the management companies had control of all operational aspects of the hotels, including employee-related matters. The management companies generally had to maintain each hotel under their management in good repair and condition and perform routine maintenance, repairs, and minor alterations. Additionally, the management companies were required to operate the hotels in accordance with the national franchise agreements that cover the hotels, which includes, as applicable, using franchisor sales and reservation systems and abiding by franchisors’ marketing standards. The management agreements generally required the TRS to fund debt service, working capital needs, and capital expenditures and to fund the management companies’ third-party operating expenses, except those expenses not related to the operation of hotels. The TRS also was responsible for obtaining and maintaining certain insurance policies with respect to the hotels. Each of the management companies employed by the TRS for the periods presented received a base monthly management fee of 3.0% to 3.5% of gross hotel revenue, with incentives for performance which increase such fee to a maximum of 5.0%. For the period from January 1 through December 1, 2021 and the years ended December 31, 2020 and 2019, base management fees incurred totaled $1,435, $1,042, and $1,813, respectively. For the period from January 1 through December 1, 2021 and the years ended December 31, 2020 and 2019, incentive management fees totaled $204, $0, and $141, respectively. Franchise Agreements For all periods presented prior to the Portfolio Sale, all of our properties operated under franchise licenses from national hotel companies. Under our franchise agreements, we were required to pay franchise fees generally between 3.3% and 5.5% of room revenue, plus additional fees for marketing, central reservation systems, and other franchisor programs and services that amount to between 2.5% and 6.0% of room revenue. Franchise fee expense totaled $3,614, $2,597, and $4,685, for period from January 1 through December 1, 2021 and the years ended December 31, 2020 and 2019, respectively. Leases Office lease expense totaled $19, $27, and $133 in the period from January 1 through December 1, 2021 and the years ended December 31, 2020 and 2019, respectively, and is included in general and administrative expense. Benefit Plans The Company has a qualified contributory retirement plan under Section 401(k) of the Code (the “401(k) Plan”) which covers all employees who meet certain eligibility requirements. Voluntary contributions may be made to the 401(k) Plan by employees. The 401(k) Plan is a Safe Harbor Plan and requires a mandatory employer contribution. The employer contribution expense for the period from January 1 through December 1, 2021 and the years ended December 31, 2020 and 2019 was $35, $26, and $52, respectively, and is included in general and administrative expenses. Litigation Various claims and legal proceedings arise in the ordinary course of business and may be pending against the Company and its properties. We are not currently involved in any material litigation, nor, to our knowledge, is any material litigation threatened against us. The Company has insurance to cover potential material losses and we believe it is not reasonably possible that such matters will have a material impact on our financial condition or results of operations.

Commitments and Contingencies

12 Months Ended

Dec. 31, 2021

Commitments and Contingencies [Abstract]

NOTE 16. COMMITMENTS AND CONTINGENCIES Management Agreements During the period of our hotel ownership, our TRS engaged eligible independent contractors as property managers for each of our hotels in accordance with the requirements for qualification as a REIT. The hotel management agreements provided that the management companies had control of all operational aspects of the hotels, including employee-related matters. The management companies generally had to maintain each hotel under their management in good repair and condition and perform routine maintenance, repairs, and minor alterations. Additionally, the management companies were required to operate the hotels in accordance with the national franchise agreements that cover the hotels, which includes, as applicable, using franchisor sales and reservation systems and abiding by franchisors’ marketing standards. The management agreements generally required the TRS to fund debt service, working capital needs, and capital expenditures and to fund the management companies’ third-party operating expenses, except those expenses not related to the operation of hotels. The TRS also was responsible for obtaining and maintaining certain insurance policies with respect to the hotels. Each of the management companies employed by the TRS for the periods presented received a base monthly management fee of 3.0% to 3.5% of gross hotel revenue, with incentives for performance which increase such fee to a maximum of 5.0%. For the period from January 1 through December 1, 2021 and the years ended December 31, 2020 and 2019, base management fees incurred totaled $1,435, $1,042, and $1,813, respectively. For the period from January 1 through December 1, 2021 and the years ended December 31, 2020 and 2019, incentive management fees totaled $204, $0, and $141, respectively. Franchise Agreements For all periods presented prior to the Portfolio Sale, all of our properties operated under franchise licenses from national hotel companies. Under our franchise agreements, we were required to pay franchise fees generally between 3.3% and 5.5% of room revenue, plus additional fees for marketing, central reservation systems, and other franchisor programs and services that amount to between 2.5% and 6.0% of room revenue. Franchise fee expense totaled $3,614, $2,597, and $4,685, for period from January 1 through December 1, 2021 and the years ended December 31, 2020 and 2019, respectively. Leases Office lease expense totaled $19, $27, and $133 in the period from January 1 through December 1, 2021 and the years ended December 31, 2020 and 2019, respectively, and is included in general and administrative expense. Benefit Plans The Company has a qualified contributory retirement plan under Section 401(k) of the Code (the “401(k) Plan”) which covers all employees who meet certain eligibility requirements. Voluntary contributions may be made to the 401(k) Plan by employees. The 401(k) Plan is a Safe Harbor Plan and requires a mandatory employer contribution. The employer contribution expense for the period from January 1 through December 1, 2021 and the years ended December 31, 2020 and 2019 was $35, $26, and $52, respectively, and is included in general and administrative expenses. Litigation Various claims and legal proceedings arise in the ordinary course of business and may be pending against the Company and its properties. We are not currently involved in any material litigation, nor, to our knowledge, is any material litigation threatened against us. The Company has insurance to cover potential material losses and we believe it is not reasonably possible that such matters will have a material impact on our financial condition or results of operations.