| Schedule of Segment Reporting |
| | | | | | | | | | | | | | | Three Months Ended June 30 | | Six Months Ended June 30, | | | 2026 | | 2025 | | 2026 | | 2025 | Revenue: | | | | | | | | | | | | | Total revenue | | $ | 8,899,581 | | $ | 9,172,720 | | $ | 14,051,294 | | $ | 15,019,694 | Operating expenses: | | | | | | | | | | | | | Rooms | | | 1,541,186 | | | 1,545,287 | | | 2,782,441 | | | 2,913,270 | Food and beverage | | | 526,797 | | | 435,986 | | | 884,889 | | | 774,378 | Other property operating expenses | | | 2,976,063 | | | 2,941,912 | | | 5,588,111 | | | 5,494,973 | Property management fees to affiliates | | | 265,989 | | | 275,311 | | | 419,299 | | | 450,973 | Other segment expenses (1) | | | 1,526,922 | | | 1,567,614 | | | 3,038,327 | | | 3,176,664 | Operating income: | | | 2,062,624 | | | 2,406,610 | | | 1,338,227 | | | 2,209,436 | Non-operating expenses: | | | | | | | | | | | | | Interest expense, net | | | (1,070,069) | | | (1,001,140) | | | (2,154,819) | | | (1,954,494) | Income tax (expense) benefit | | | (5,000) | | | 7,732 | | | (6,600) | | | 224,619 | Segment and consolidated net income (loss) | | $ | 987,555 | | $ | 1,413,202 | | $ | (823,192) | | $ | 479,561 |
| (1) | Other segment expenses include corporate general and administrative, other fees to affiliates and depreciation and amortization. |
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