v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenues        
Total revenues $ 8,899,581 $ 9,172,720 $ 14,051,294 $ 15,019,694
Expenses        
Other property 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
Corporate general and administrative 336,045 350,851 646,486 635,626
Other fees to affiliates 236,571 233,100 482,941 466,214
Depreciation and amortization 954,306 983,663 1,908,900 2,074,824
Total expenses 6,836,957 6,766,110 12,713,067 12,810,258
Operating income 2,062,624 2,406,610 1,338,227 2,209,436
Interest expense, net (1,070,069) (1,001,140) (2,154,819) (1,954,494)
Net income (loss) before income taxes 992,555 1,405,470 (816,592) 254,942
Income tax (expense) benefit (5,000) 7,732 (6,600) 224,619
Net income (loss) 987,555 1,413,202 (823,192) 479,561
Net income attributable to noncontrolling interest 252,256 219,609 301,410 472,288
Net income (loss) attributable to common stockholders - basic 735,299 1,193,593 (1,124,602) 7,273
Class K Common Stock        
Expenses        
Net income (loss) attributable to common stockholders - basic 485,297 785,296 (693,779) 32,768
Net income (loss) attributable to common stockholders - diluted $ 485,297 $ 785,296 $ (693,779) $ 32,768
Net income (loss) per common share, basic (in dollars per share) $ 0.13 $ 0.2 $ (0.18) $ 0.01
Net income (loss) per common share, diluted (in dollars per share) $ 0.13 $ 0.2 $ (0.18) $ 0.01
Weighted average number of common shares outstanding - basic (in shares) 3,847,759 3,874,116 3,851,276 3,878,359
Weighted average number of common shares outstanding - diluted (in shares) 3,847,759 3,874,116 3,851,276 3,878,359
Class K-I Common Stock        
Expenses        
Net income (loss) attributable to common stockholders - basic $ 182,721 $ 286,921 $ (260,179) $ 11,927
Net income (loss) attributable to common stockholders - diluted $ 182,721 $ 286,921 $ (260,179) $ 11,927
Net income (loss) per common share, basic (in dollars per share) $ 0.13 $ 0.2 $ (0.18) $ 0.01
Net income (loss) per common share, diluted (in dollars per share) $ 0.13 $ 0.2 $ (0.18) $ 0.01
Weighted average number of common shares outstanding - basic (in shares) 1,448,729 1,415,477 1,444,298 1,411,608
Weighted average number of common shares outstanding - diluted (in shares) 1,448,729 1,415,477 1,444,298 1,411,608
Class A Common Stock        
Expenses        
Net income (loss) attributable to common stockholders - basic $ 73,330 $ 117,853 $ (104,736) $ 4,913
Net income (loss) attributable to common stockholders - diluted $ 73,330 $ 117,853 $ (104,736) $ 4,913
Net income (loss) per common share, basic (in dollars per share) $ 0.13 $ 0.2 $ (0.18) $ 0.01
Net income (loss) per common share, diluted (in dollars per share) $ 0.13 $ 0.2 $ (0.18) $ 0.01
Weighted average number of common shares outstanding - basic (in shares) 581,410 581,410 581,410 581,410
Weighted average number of common shares outstanding - diluted (in shares) 581,410 581,410 581,410 581,410
Class B Common Stock        
Expenses        
Net income (loss) attributable to common stockholders - basic $ (6,049) $ 3,523 $ (65,908) $ (42,335)
Net income (loss) attributable to common stockholders - diluted $ (6,049) $ 3,523 $ (65,908) $ (42,335)
Net income (loss) per common share, basic (in dollars per share) $ (0.05) $ 0.03 $ (0.53) $ (0.34)
Net income (loss) per common share, diluted (in dollars per share) $ (0.05) $ 0.03 $ (0.53) $ (0.34)
Weighted average number of common shares outstanding - basic (in shares) 125,000 125,000 125,000 125,000
Weighted average number of common shares outstanding - diluted (in shares) 125,000 125,000 125,000 125,000
Rooms        
Revenues        
Total revenues $ 7,624,728 $ 8,089,157 $ 12,103,549 $ 13,303,498
Expenses        
Costs 1,541,186 1,545,287 2,782,441 2,913,270
Food and beverage        
Revenues        
Total revenues 811,931 705,152 1,171,792 1,064,238
Expenses        
Costs 526,797 435,986 884,889 774,378
Other operating        
Revenues        
Total revenues $ 462,922 $ 378,411 $ 775,953 $ 651,958