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Consolidated Statement Of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Revenue:      
Hotel Operating Revenues $ 470,272 $ 417,226 $ 338,064
Interest Income from Development Loans     158
Other Revenues 113 180 191
Total Revenues 470,385 417,406 338,413
Operating Expenses:      
Hotel Operating Expenses 254,313 227,324 188,431
Insurance Recoveries   (4,604) (403)
Hotel Ground Rent 3,137 2,433 985
Real Estate and Personal Property Taxes and Property Insurance 34,518 30,342 24,083
General and Administrative (including Share Based Payments of $6,523, $6,028 and $9,746 for the year ended December 31, 2015, 2014 and 2013, respectively) 20,515 20,363 23,869
Acquisition and Terminated Transaction Costs 1,119 2,472 974
Depreciation and Amortization 74,390 69,167 55,784
Contingent Consideration Related to Acquisition of Hotel Property   2,000  
Total Operating Expenses 387,992 349,497 293,723
Operating Income 82,393 67,909 44,690
Interest Income 193 805 1,784
Interest Expense (43,557) (43,357) (40,935)
Other Expense 367 485 102
Gain on Disposition of Hotel Properties   7,195  
Gain on Hotel Acquisitions, net   12,667 12,096
Development Loan Recovery   22,494  
Loss on Debt Extinguishment (561) (670) (545)
Income Before Income (Loss) from Unconsolidated Joint Venture Investments, Income Taxes and Discontinued Operations 38,101 66,558 16,988
Income (Loss) from Unconsolidated Joint Ventures 965 693 (22)
Impairment of Investment in Unconsolidated Joint Venture     (1,813)
Income (Loss) from Unconsolidated Joint Venture Investments 965 693 (1,835)
Income Before Income Taxes 39,066 67,251 15,153
Income Tax Benefit 3,141 2,685 5,600
Income from Continuing Operations 42,207 69,936 20,753
Discontinued Operations (Note 11):      
(Loss) Gain on Disposition of Discontinued Assets   (128) 32,121
Impairment of Discontinued Assets   (1,800) (10,314)
Income from Discontinued Operations, Net of Income Taxes   263 7,388
(Loss) Income from Discontinued Operations   (1,665) 29,195
Net Income 42,207 68,271 49,948
Income Allocated to Noncontrolling Interests (411) (1,016) (335)
Preferred Distributions (14,356) $ (14,356) (14,611)
Extinguishment of Issuance Costs Upon Redemption of Series A Preferred Shares   (2,250)
Net Income Applicable to Common Shareholders $ 27,440 $ 52,899 $ 32,752
BASIC      
Income from Continuing Operations Applicable to Common Shareholders $ 0.56 $ 1.08 $ 0.07
(Loss) Income from Discontinued Operations Applicable to Common Shareholders 0.00 (0.03) 0.57
Net Income Applicable to Common Shareholders 0.56 1.05 0.64
DILUTED      
Income from Continuing Operations Applicable to Common Shareholders 0.56 1.07 0.07
(Loss) Income from Discontinued Operations Applicable to Common Shareholders 0.00 (0.03) 0.56
Net Income Applicable to Common Shareholders $ 0.56 $ 1.04 $ 0.63
Weighted Average Common Shares Outstanding:      
Basic 47,786,811 49,777,302 49,597,613
Diluted [1] 48,369,658 50,307,506 50,479,545
[1] Income (loss) allocated to noncontrolling interest in Hersha Hospitality Limited Partnership (the "Operating Partnership" or "HHLP") has been excluded from the numerator and common units of limited partnership interest ("Common Units") in the Operating Partnership have been omitted from the denominator for the purpose of computing diluted earnings per share since the effect of including these shares and units in the numerator and denominator would have no impact. In addition, potentially dilutive common shares, if any, have been excluded from the denominator if they are anti-dilutive to income (loss) from continuing operations applicable to common shareholders.