Schedule III - Real Estate And Accumulated Depreciation

12 Months Ended

Dec. 31, 2019

SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]

Schedule III - Real Estate And Accumulated Depreciation

SCHEDULE III – REAL ESTATE AND ACCUMULATED DEPRECIATION AS OF DECEMBER 31, 2019

[IN THOUSANDS]

			Initial Costs		Costs Capitalized Subsequent to Acquisition (1)		Gross Amounts at which Carried at Close of Period			Accumulated Depreciation		Net Book Value
Description	Encumbrances		Land	Buildings & Improvements	Land	Buildings & Improvements	Land	Buildings & Improvements	Total	Buildings & Improvements*		Land, Buildings & Improvements	Date of Acquisition
Courtyard by Marriott Brookline, Brookline, MA			—	47,414	—	4,916	—	52,330	52,330	(20,632	)	31,698	06/16/05
Annapolis Waterfront Hotel, Annapolis, MD	(28,000	)	—	43,251	—	650	—	43,901	43,901	(1,932	)	41,969	03/28/18
Hilton Garden Inn JFK, JFK Airport, NY			—	25,018	—	3,639	—	28,657	28,657	(11,459	)	17,198	02/16/06
Holiday Inn Express Cambridge, Cambridge, MA			1,956	9,793	—	3,870	1,956	13,663	15,619	(5,835	)	9,784	05/03/06
Hyatt House White Plains, White Plains, NY			8,823	30,273	—	11,306	8,823	41,579	50,402	(14,530	)	35,872	12/28/06
Hampton Inn Seaport, Seaport, NY			7,816	19,040	—	1,544	7,816	20,584	28,400	(7,216	)	21,184	02/01/07
Gate Hotel JFK Airport, JFK Airport, NY			—	27,315	—	2,460	—	29,775	29,775	(9,756	)	20,019	06/13/08
Hampton Inn Center City/ Convention Center, Philadelphia, PA			3,490	24,382	—	11,699	3,490	36,081	39,571	(16,850	)	22,721	02/15/06
Duane Street Hotel, Tribeca, NY			8,213	12,869	—	2,305	8,213	15,174	23,387	(5,496	)	17,891	01/04/08
NU Hotel Brooklyn, Brooklyn, NY			—	22,042	—	1,876	—	23,918	23,918	(7,781	)	16,137	01/14/08
Hilton Garden Inn Tribeca, Tribeca, NY	(45,450	)	21,077	42,955	—	1,211	21,077	44,166	65,243	(12,238	)	53,005	05/01/09

HERSHA HOSPITALITY TRUST AND SUBSIDIARIES

SCHEDULE III – REAL ESTATE AND ACCUMULATED DEPRECIATION AS OF DECEMBER 31, 2019 (CONTINUED)

[IN THOUSANDS]

໿

			Initial Costs		Costs Capitalized Subsequent to Acquisition (1)		Gross Amounts at which Carried at Close of Period			Accumulated Depreciation		Net Book Value
Description	Encumbrances		Land	Buildings & Improvements	Land	Buildings & Improvements	Land	Buildings & Improvements	Total	Buildings & Improvements*		Land, Buildings & Improvements	Date of Acquisition
Hampton Inn Washington, D.C., Washington, DC			9,335	58,048	—	2,994	9,335	61,042	70,377	(14,930	)	55,447	09/01/10
Sheraton Wilmington South, Wilmington South, DE			1,765	16,929	—	5,068	1,765	21,997	23,762	(7,528	)	16,234	12/21/10
The Capitol Hill Hotel Washington, DC	(25,000	)	8,095	35,141	—	4,924	8,095	40,065	48,160	(11,508	)	36,652	04/15/11
Courtyard by Marriott Los Angeles Westside, LA Westside, CA	(35,000	)	13,489	27,025	—	4,952	13,489	31,977	45,466	(9,912	)	35,554	05/19/11
Cadillac Hotel & Beach Club, Miami, FL			35,700	55,805	—	44,315	35,700	100,120	135,820	(21,328	)	114,492	11/16/11
The Rittenhouse Hotel, Philadelphia, PA			7,108	29,556	—	27,868	7,108	57,424	64,532	(22,271	)	42,261	03/01/12
The Boxer Boston, Boston, MA			1,456	14,954	—	1,112	1,456	16,066	17,522	(4,314	)	13,208	05/07/12
Holiday Inn Express Chelsea, Manhattan, NY			30,329	57,016	—	2,049	30,329	59,065	89,394	(11,860	)	77,534	06/18/12
Hyatt Union Square, Union Square, NY	(56,000	)	32,940	79,300	—	4,028	32,940	83,328	116,268	(15,169	)	101,099	04/09/13
Courtyard by Marriott Downtown San Diego, San Diego, CA			15,656	51,674	—	2,138	15,656	53,812	69,468	(9,797	)	59,671	05/30/13
Residence Inn Miami Coconut Grove, Coconut Grove, FL			4,146	17,456	—	7,487	4,146	24,943	29,089	(8,161	)	20,928	06/12/13
The Hotel Milo, Santa Barbara, CA	(22,227	)	—	55,080	—	4,900	—	59,980	59,980	(10,318	)	49,662	02/28/14

HERSHA HOSPITALITY TRUST AND SUBSIDIARIES

SCHEDULE III – REAL ESTATE AND ACCUMULATED DEPRECIATION AS OF DECEMBER 31, 2019 (CONTINUED)

[IN THOUSANDS]

				Initial Costs				Costs Capitalized Subsequent to Acquisition (1)				Gross Amounts at which Carried at Close of Period						Accumulated Depreciation			Net Book Value
Description	Encumbrances			Land		Buildings & Improvements		Land		Buildings & Improvements		Land		Buildings & Improvements		Total		Buildings & Improvements*			Land, Buildings & Improvements		Date of Acquisition
Hilton Garden Inn Manhattan Midtown East, Midtown East, NY	(44,325		)	45,480		60,762		—		409		45,480		61,171		106,651		(8,676		)	97,975		05/27/14
Parrot Key Hotel & Villas, Key West, FL				57,889		33,959		—		14,161		57,889		48,120		106,009		(7,641		)	98,368		05/07/14
The Winter Haven Hotel Miami Beach, Miami Beach, FL				5,400		18,147		—		694		5,400		18,841		24,241		(3,139		)	21,102		12/20/13
The Blue Moon Hotel Miami Beach, Miami Beach, FL				4,874		20,354		—		981		4,874		21,335		26,209		(3,579		)	22,630		12/20/13
The St. Gregory Hotel, Dupont Circle, Washington D.C.	(22,857		)	23,764		33,005		—		7,470		23,764		40,475		64,239		(6,339		)	57,900		06/16/15
TownePlace Suites Sunnyvale, Sunnyvale, CA				—		18,999		—		666		—		19,665		19,665		(2,348		)	17,317		08/25/15
The Ritz-Carlton Georgetown, Washington D.C.				17,825		29,584		—		3,963		17,825		33,547		51,372		(3,933		)	47,439		12/29/15
The Sanctuary Beach Resort, Marina, CA	(14,489		)	20,278		17,319		—		6,725		20,278		24,044		44,322		(3,763		)	40,559		01/28/16
Hilton Garden Inn M Street, Washington D.C.				30,793		67,420		—		179		30,793		67,599		98,392		(6,475		)	91,917		03/09/16
The Envoy Boston Seaport, Boston, MA				25,264		75,979		—		3,725		25,264		79,704		104,968		(7,299		)	97,669		07/21/16
Courtyard by Marriott Sunnyvale, Sunnyvale, CA	(40,600		)	17,694		53,272		—		59		17,694		53,331		71,025		(4,269		)	66,756		10/20/16
Mystic Marriott Hotel & Spa, Groton, CT				1,420		40,440		—		9,646		1,420		50,086		51,506		(4,932		)	46,574		01/03/17
The Ritz-Carlton Coconut Grove, Coconut Grove, FL				5,185		30,825		—		9,391		5,185		40,216		45,401		(3,983		)	41,418		02/01/17
The Pan Pacific Hotel Seattle, Seattle, WA				13,079		59,255		—		308		13,079		59,563		72,642		(4,228		)	68,414		02/21/17
Philadelphia Westin, Philadelphia, PA				19,154		103,406		—		1,467		19,154		104,873		124,027		(6,660		)	117,367		06/29/17
The Ambrose Hotel, Santa Monica, CA				18,750		26,839		—		1,565		18,750		28,404		47,154		(2,414		)	44,740		12/01/16
Total Investment in Real Estate	$	(333,948	)	$	518,243	$	1,491,901	$	—	$	218,720	$	518,243	$	1,710,621	$	2,228,864	$	(340,499	)	$	1,888,365

HERSHA HOSPITALITY TRUST AND SUBSIDIARIES

SCHEDULE III – REAL ESTATE AND ACCUMULATED DEPRECIATION AS OF DECEMBER 31, 2019 (CONTINUED)

[IN THOUSANDS]

(1) Costs capitalized subsequent to acquisition include reductions of asset value due to impairment.    

* Assets are depreciated over a 7 to 40 year life, upon which the latest income statement is computed.

The aggregate cost of land, buildings and improvements for Federal income tax purposes for the years ended December 31, 2019, 2018 and 2017 is approximately $1,675,650, $1,745,577 and $1,741,293, respectively.

Depreciation is computed for buildings and improvements using a useful life for these assets of 7 to 40 years.

See Accompanying Report of Independent Registered Public Accounting Firm

HERSHA HOSPITALITY TRUST AND SUBSIDIARIES

SCHEDULE III – REAL ESTATE AND ACCUMULATED DEPRECIATION AS OF DECEMBER 31, 2019 (CONTINUED)

[IN THOUSANDS]

	2019		2018			2017
Reconciliation of Real Estate
Balance at beginning of year	$	2,206,701	$	2,159,282		$	2,010,621
Additions during the year	22,163		122,708			285,141
Dispositions/Deconsolidation of consolidated joint venture during the year	—		(75,289		)	(136,480		)
Total Real Estate	$	2,228,864	$	2,206,701		$	2,159,282
Reconciliation of Accumulated Depreciation
Balance at beginning of year	$	277,580	$	238,213		$	222,512
Depreciation for year	62,919		55,496			50,111
Accumulated depreciation on assets sold	—		(16,129		)	(34,410		)
Balance at the end of year	$	340,499	$	277,580		$	238,213