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Consolidated Statements Of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Revenue:        
Other Revenues $ (12) $ 78 $ 138 $ 202
Total Revenues 147,501 133,840 262,294 233,479
Operating Expenses:        
Gain on Insurance Settlement 0 (6,363) 0 (6,363)
Hotel Ground Rent 1,114 1,349 2,224 2,277
Real Estate and Personal Property Taxes and Property Insurance 8,997 8,129 18,394 16,421
General and Administrative (including Share Based Payments of $3,474 and $3,123, and $5,432 and $4,729 for the three and six months ended June 30, 2019 and 2018, respectively) 8,100 7,585 13,700 12,674
Acquisition and Terminated Transaction Costs 0 2 0 2
Depreciation and Amortization 23,964 22,061 48,092 43,600
Total Operating Expenses 124,785 109,422 240,131 212,052
Operating Income 22,716 24,418 22,163 21,427
Interest Income 58 20 141 45
Interest Expense (13,325) (11,879) (26,223) (23,251)
Other Expense (124) (75) (83) (734)
Gain (Loss) on Disposition of Hotel Properties 0 (14) 0 3,403
Loss on Debt Extinguishment (34) 0 (34) (22)
Income (Loss) Before Results from Unconsolidated Joint Venture Investments and Income Taxes 9,291 12,470 (4,036) 868
Income from Unconsolidated Joint Ventures 299 537 480 336
Income (Loss) Before Income Taxes 9,590 13,007 (3,556) 1,204
Income Tax Benefit (Expense) (4,031) (1,170) 1,233 1,485
Net Income (Loss) 5,559 11,837 (2,323) 2,689
Preferred Distributions (6,043) (6,043) (12,087) (12,087)
Net (Loss) Income Applicable to Common Shareholders $ (443) $ 6,494 $ (13,146) $ (7,594)
BASIC        
Loss (Income) from Continuing Operations Applicable to Common Shareholders (in dollars per share) $ (0.02) $ 0.16 $ (0.35) $ (0.20)
DILUTED        
Loss (Income) from Continuing Operations Applicable to Common Shareholders (in dollars per share) $ (0.02) $ 0.16 $ (0.35) $ (0.20)
Weighted Average Common Shares Outstanding:        
Basic (in shares) 39,127,385 39,246,946 39,121,421 39,440,481
Diluted (in shares) [1] 39,127,385 39,926,099 39,121,421 39,440,481
Noncontrolling Interests Common Units And LTIP Units [Member]        
Operating Expenses:        
Net Income (Loss) $ (49) $ 500 $ (1,112) $ (604)
(Income) Loss Allocated to Noncontrolling Interests 49 (500) 1,112 604
Consolidated Joint Ventures [Member]        
Operating Expenses:        
Net Income (Loss)   (1,200) (300) (1,200)
(Income) Loss Allocated to Noncontrolling Interests (8) 1,200 152 1,200
Room [Member]        
Revenue:        
Hotel Operating Revenues 118,980 109,492 210,465 188,540
Operating Expenses:        
Hotel Operating Expenses 24,013 22,945 46,103 42,301
Food and Beverage [Member]        
Revenue:        
Hotel Operating Revenues 18,253 17,001 32,481 30,539
Operating Expenses:        
Hotel Operating Expenses 13,990 13,331 26,822 25,182
Other Operating [Member]        
Revenue:        
Hotel Operating Revenues 10,280 7,269 19,210 14,198
Operating Expenses:        
Hotel Operating Expenses $ 44,607 $ 40,383 $ 84,796 $ 75,958
[1]
Income (Loss) allocated to noncontrolling interest in Hersha Hospitality Limited Partnership (the “Operating Partnership” or “HHLP”) has been excluded from the numerator and the Class A common shares issuable upon any redemption of the Operating Partnership’s common units of limited partnership interest (“Common Units”) and the Operating Partnership’s vested LTIP units (“Vested LTIP Units”) have been omitted from the denominator for the purpose of computing diluted earnings per share because 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) applicable to common shareholders.