XML 33 R44.htm IDEA: XBRL DOCUMENT v2.4.0.8
Debt (Narrative) (Details) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 1 Months Ended 3 Months Ended 3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Dec. 31, 2013
Jan. 03, 2013
Mar. 31, 2014
Assets Held-for-sale [Member]
Dec. 31, 2013
Assets Held-for-sale [Member]
Jan. 31, 2014
Duane Street Hotel, New York, NY [Member]
Mar. 31, 2014
Holiday Inn Express, New York, NY [Member]
Mar. 31, 2014
Citigroup Global Markets Inc. [Member]
Mar. 31, 2014
Mortgages [Member]
Mar. 31, 2013
Mortgages [Member]
Dec. 31, 2013
Mortgages [Member]
Mar. 31, 2014
Junior Subordinated Debt [Member]
Hersha Statutory Trust I and Hersha Statutory Trust II [Member]
loan
Mar. 31, 2013
Junior Subordinated Debt [Member]
Hersha Statutory Trust I and Hersha Statutory Trust II [Member]
Mar. 31, 2014
Junior Subordinated Debt [Member]
Hersha Statutory Trust I [Member]
Mar. 31, 2014
Junior Subordinated Debt [Member]
Hersha Statutory Trust II [Member]
Mortgages and Notes Payable [Abstract]                                
Long-term debt         $ 18,387 $ 45,835       $ 590,154   $ 617,788        
Interest rate range, minimum (in hundredths)                   3.79%            
Interest rate range, maximum (in hundredths)                   8.25%            
Net unamortizaed premiums                   (2,247)   (2,466)        
Interest expense                   7,826 8,294   417 426    
Debt covenant compliance status                   We have determined that certain debt service coverage ratio covenants contained in the loan agreements securing four of our hotel properties were not met as of March 31, 2014. Pursuant to these loan agreements, the lender has elected to escrow the operating cash flow for a number of these properties. However, these covenants do not constitute an event of default for these loans.            
Maturity date range, start                   Oct. 01, 2014            
Maturity date range, end                   Apr. 01, 2023            
Subordinated Notes Payable [Abstract]                                
Number of debt instruments                         2      
Subordinated notes payable                         51,548   25,774 25,774
Maturity date             Feb. 01, 2017           Jul. 30, 2035      
Debt instrument, description of variable rate basis                             LIBOR LIBOR
Debt instrument, basis spread on variable rate (in hundredths)             4.50%               3.00% 3.00%
Number of business days prior to quarterly interest payments for resetting rates                         2 days      
Debt instrument, interest rate during period (in hundredths)                         3.24% 3.31%    
Capitalized Interest [Abstract]                                
Capitalized interest 242 278                            
Deferred Financing Costs [Abstract]                                
Deferred costs, net of accumulated amortization 8,611   7,570                          
Accumulated amortization 5,866   7,070                          
Amortization of deferred costs 699 616                            
New Debt/Refinance and Payoffs [Abstract]                                
Company funded remaining tranche of the unsecured portion of the credit facility       50,000                        
Mortgage loan extinguishment             5,175                  
Mortgage loan             9,500                  
Fixed interest rate             5.433%                  
Unamortized deferred costs and defeasance premiums expensed 644 261         65 261 579              
Unsecured Term Loan $ 150,000   $ 150,000