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  <xs:element name="PhiladelphiaHotelPortfolioImpairmentChargeTextBlock" type="dtr:textBlockItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="lvpr_PhiladelphiaHotelPortfolioImpairmentChargeTextBlock"/>
  <xs:element name="MarketableSecuritiesAndFairValueMeasurementsAndMarginLoanTextBlock" type="dtr:textBlockItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="lvpr_MarketableSecuritiesAndFairValueMeasurementsAndMarginLoanTextBlock"/>
  <xs:element name="ScheduleOfCondensedBalanceSheetForJointVentureTableTextBlock" type="dtr:textBlockItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="lvpr_ScheduleOfCondensedBalanceSheetForJointVentureTableTextBlock"/>
  <xs:element name="ScheduleOfCondensedStatementsOfOperationsForTheHiltonGardenInnJointVentureTableTextBlock" type="dtr:textBlockItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="lvpr_ScheduleOfCondensedStatementsOfOperationsForTheHiltonGardenInnJointVentureTableTextBlock"/>
  <xs:element name="ScheduleOfCondensedBalanceSheetForHiltonGardenInnJointVentureTableTextBlock" type="dtr:textBlockItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="lvpr_ScheduleOfCondensedBalanceSheetForHiltonGardenInnJointVentureTableTextBlock"/>
  <xs:element name="InvestmentsinUnconsolidatedAffiliatedEntitiesTablesTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="lvpr_InvestmentsinUnconsolidatedAffiliatedEntitiesTablesTable"/>
  <xs:element name="InvestmentsinUnconsolidatedAffiliatedEntitiesTablesLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="lvpr_InvestmentsinUnconsolidatedAffiliatedEntitiesTablesLineItems"/>
  <xs:element name="AdditionalDepreciationAndAmortizationExpense1" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="lvpr_AdditionalDepreciationAndAmortizationExpense1"/>
  <xs:element name="CompanysEarningsFromInvestment" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="lvpr_CompanysEarningsFromInvestment"/>
  <xs:element name="InvestmentsinUnconsolidatedAffiliatedEntitiesScheduleofcondensedbalancesheetsDetailsTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="lvpr_InvestmentsinUnconsolidatedAffiliatedEntitiesScheduleofcondensedbalancesheetsDetailsTable"/>
  <xs:element name="InvestmentsinUnconsolidatedAffiliatedEntitiesScheduleofcondensedbalancesheetsDetailsLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="lvpr_InvestmentsinUnconsolidatedAffiliatedEntitiesScheduleofcondensedbalancesheetsDetailsLineItems"/>
  <xs:element name="InvestmentsinUnconsolidatedAffiliatedEntitiesScheduleofcondensedstatementsofoperationsDetailsTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="lvpr_InvestmentsinUnconsolidatedAffiliatedEntitiesScheduleofcondensedstatementsofoperationsDetailsTable"/>
  <xs:element name="InvestmentsinUnconsolidatedAffiliatedEntitiesScheduleofcondensedstatementsofoperationsDetailsLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="lvpr_InvestmentsinUnconsolidatedAffiliatedEntitiesScheduleofcondensedstatementsofoperationsDetailsLineItems"/>
  <xs:element name="MarketableSecuritiesFairValueMeasurementsandMarginLoanScheduleofavailableforsalesecuritiesDetailsTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="lvpr_MarketableSecuritiesFairValueMeasurementsandMarginLoanScheduleofavailableforsalesecuritiesDetailsTable"/>
  <xs:element name="MarketableSecuritiesFairValueMeasurementsandMarginLoanScheduleofavailableforsalesecuritiesDetailsLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="lvpr_MarketableSecuritiesFairValueMeasurementsandMarginLoanScheduleofavailableforsalesecuritiesDetailsLineItems"/>
  <xs:element name="MortgagePayableNetScheduleofmortgagespayablenetDetailsTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="lvpr_MortgagePayableNetScheduleofmortgagespayablenetDetailsTable"/>
  <xs:element name="MortgagePayableNetScheduleofmortgagespayablenetDetailsLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="lvpr_MortgagePayableNetScheduleofmortgagespayablenetDetailsLineItems"/>
  <xs:element name="MaturityDate" type="xbrli:stringItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="lvpr_MaturityDate"/>
  <xs:element name="BusinessandStructureDetailsTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="lvpr_BusinessandStructureDetailsTable"/>
  <xs:element name="BusinessandStructureDetailsLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="lvpr_BusinessandStructureDetailsLineItems"/>
  <xs:element name="ContributionFromAdvisor" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="lvpr_ContributionFromAdvisor"/>
  <xs:element name="NumberOfLimitedPartnerUnitsIssuedToAdvisor" type="xbrli:sharesItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="lvpr_NumberOfLimitedPartnerUnitsIssuedToAdvisor"/>
  <xs:element name="BusinessAcquiredAssets" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="lvpr_BusinessAcquiredAssets"/>
  <xs:element name="EquityInterests" type="dtr:percentItemType" abstract="false" xbrli:periodType="instant" nillable="true" substitutionGroup="xbrli:item" id="lvpr_EquityInterests"/>
  <xs:element name="SpecialGeneralPartnerInterestsBeneficialOwnershipPercentage" type="dtr:percentItemType" abstract="false" xbrli:periodType="instant" nillable="true" substitutionGroup="xbrli:item" id="lvpr_SpecialGeneralPartnerInterestsBeneficialOwnershipPercentage"/>
  <xs:element name="SummaryofSignificantAccountingPoliciesDetailsTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="lvpr_SummaryofSignificantAccountingPoliciesDetailsTable"/>
  <xs:element name="SummaryofSignificantAccountingPoliciesDetailsLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="lvpr_SummaryofSignificantAccountingPoliciesDetailsLineItems"/>
  <xs:element name="InvestmentsinUnconsolidatedAffiliatedEntitiesDetailsTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="lvpr_InvestmentsinUnconsolidatedAffiliatedEntitiesDetailsTable"/>
  <xs:element name="InvestmentsinUnconsolidatedAffiliatedEntitiesDetailsLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="lvpr_InvestmentsinUnconsolidatedAffiliatedEntitiesDetailsLineItems"/>
  <xs:element name="OperatingPartnershipAnAggregateInterestPercentage" type="dtr:percentItemType" abstract="false" xbrli:periodType="instant" nillable="true" substitutionGroup="xbrli:item" id="lvpr_OperatingPartnershipAnAggregateInterestPercentage"/>
  <xs:element name="AssociateGeneralPartner" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="lvpr_AssociateGeneralPartner"/>
  <xs:element name="AggregateTotalValue" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="lvpr_AggregateTotalValue"/>
  <xs:element name="MembershipInterestOwnershipPercentage" type="dtr:percentItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="lvpr_MembershipInterestOwnershipPercentage"/>
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  <xs:element name="MarketableSecuritiesFairValueMeasurementsandMarginLoanDetailsTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="lvpr_MarketableSecuritiesFairValueMeasurementsandMarginLoanDetailsTable"/>
  <xs:element name="MarketableSecuritiesFairValueMeasurementsandMarginLoanDetailsLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="lvpr_MarketableSecuritiesFairValueMeasurementsandMarginLoanDetailsLineItems"/>
  <xs:element name="MarginLoan" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="lvpr_MarginLoan"/>
  <xs:element name="MortgagePayableNetDetailsTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="lvpr_MortgagePayableNetDetailsTable"/>
  <xs:element name="MortgagePayableNetDetailsLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="lvpr_MortgagePayableNetDetailsLineItems"/>
  <xs:element name="LineOfCreditFacilityCurrentBorrowingCapacityPercentage" type="dtr:percentItemType" abstract="false" xbrli:periodType="instant" nillable="true" substitutionGroup="xbrli:item" id="lvpr_LineOfCreditFacilityCurrentBorrowingCapacityPercentage"/>
  <xs:element name="EscrowsAmountHeldInCashCollateralReserveAccount" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="lvpr_EscrowsAmountHeldInCashCollateralReserveAccount"/>
  <xs:element name="AnnualREITTaxableIncomePercentage" type="dtr:percentItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="lvpr_AnnualREITTaxableIncomePercentage"/>
  <xs:element name="TaxableIncomePercentage" type="dtr:percentItemType" abstract="false" xbrli:periodType="instant" nillable="true" substitutionGroup="xbrli:item" id="lvpr_TaxableIncomePercentage"/>
  <xs:element name="CommonShareDistributionPerShare" type="dtr:perShareItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="lvpr_CommonShareDistributionPerShare"/>
  <xs:element name="AnnualizedDividendsPerSharePaid" type="dtr:perShareItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="lvpr_AnnualizedDividendsPerSharePaid"/>
  <xs:element name="AnnualizedDistributionRate" type="dtr:percentItemType" abstract="false" xbrli:periodType="instant" nillable="true" substitutionGroup="xbrli:item" id="lvpr_AnnualizedDistributionRate"/>
  <xs:element name="ExcessRedeemPercentage" type="dtr:percentItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="lvpr_ExcessRedeemPercentage"/>
  <xs:element name="AggregateConsideration" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="lvpr_AggregateConsideration"/>
  <xs:element name="CommitmentsandContingenciesDetailsTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="lvpr_CommitmentsandContingenciesDetailsTable"/>
  <xs:element name="CommitmentsandContingenciesDetailsLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="lvpr_CommitmentsandContingenciesDetailsLineItems"/>
  <xs:element name="ManagementAgreementTerm" type="xbrli:durationItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="lvpr_ManagementAgreementTerm"/>
  <xs:element name="FranchiseFeePercentage" type="dtr:percentItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="lvpr_FranchiseFeePercentage"/>
  <xs:element name="MarketingFundChargePercent" type="dtr:percentItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="lvpr_MarketingFundChargePercent"/>
  <xs:element name="FranchiseAgreementTerm" type="xbrli:durationItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="lvpr_FranchiseAgreementTerm"/>
  <xs:element name="AdvisorMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="lvpr_AdvisorMember"/>
  <xs:element name="BrownmillJointVentureMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="lvpr_BrownmillJointVentureMember"/>
  <xs:element name="BrownmillLLCMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="lvpr_BrownmillLLCMember"/>
  <xs:element name="HiltonGardenInnJointVentureMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="lvpr_HiltonGardenInnJointVentureMember"/>
  <xs:element name="HiltonGardenInnMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="lvpr_HiltonGardenInnMember"/>
  <xs:element name="HotelJointVenturesMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="lvpr_HotelJointVenturesMember"/>
  <xs:element name="LGHMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="lvpr_LGHMember"/>
  <xs:element name="LVPLICHotelJVLLCMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="lvpr_LVPLICHotelJVLLCMember"/>
  <xs:element name="LightstoneREITIsMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="lvpr_LightstoneREITIsMember"/>
  <xs:element name="LightstoneReitIiMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="lvpr_LightstoneReitIiMember"/>
  <xs:element name="LightstoneReitIiiMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="lvpr_LightstoneReitIiiMember"/>
  <xs:element name="LightstoneSlpLlcMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="lvpr_LightstoneSlpLlcMember"/>
  <xs:element name="LightstoneValuePlusReitIiiLlcMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="lvpr_LightstoneValuePlusReitIiiLlcMember"/>
  <xs:element name="MarginLoanMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="lvpr_MarginLoanMember"/>
  <xs:element name="RoomMember" type="dtr:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="lvpr_RoomMember"/>
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</xs:schema>
