Schedule of Investment in Hotel Properties, Net |
Investment in hotel properties as of December 31, 2016 and 2015 consisted of the following:
|
|
December 31, 2016 |
|
|
December 31, 2015 |
|
Land and land improvements |
|
$ |
57,851,380 |
|
|
$ |
59,910,212 |
|
Buildings and improvements |
|
|
336,996,876 |
|
|
|
333,720,421 |
|
Furniture, fixtures and equipment |
|
|
43,458,781 |
|
|
|
42,245,334 |
|
|
|
|
438,307,037 |
|
|
|
435,875,967 |
|
Less: accumulated depreciation and impairment |
|
|
(89,713,125 |
) |
|
|
(80,912,725 |
) |
Investment in Hotel Properties, Net |
|
$ |
348,593,912 |
|
|
$ |
354,963,242 |
|
|
Schedule of Investment in Hotel Properties Held for Sale, Net |
Investment in hotel properties held for sale, net as of December 31, 2016 and 2015 consisted of the following:
|
|
December 31, 2016 |
|
|
December 31, 2015 |
|
Land and land improvements |
|
$ |
1,097,096 |
|
|
$ |
— |
|
Buildings and improvements |
|
|
6,242,504 |
|
|
|
— |
|
Furniture, fixtures and equipment |
|
|
2,289,008 |
|
|
|
— |
|
|
|
|
9,628,608 |
|
|
|
— |
|
Less: accumulated depreciation and impairment |
|
|
(4,295,608 |
) |
|
|
— |
|
Investment in Hotel Properties Held for Sale, Net |
|
$ |
5,333,000 |
|
|
$ |
— |
|
|