XML 24 R84.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Selected Quarterly Financial Data (Unaudited) (Details) - USD ($)
$ / shares in Units, $ in Thousands
3 Months Ended 12 Months Ended
Dec. 31, 2019
Sep. 30, 2019
Jun. 30, 2019
Mar. 31, 2019
Dec. 31, 2018
Sep. 30, 2018
Jun. 30, 2018
Mar. 31, 2018
Dec. 31, 2017
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Hotel Operating Revenues:                        
Other Revenues $ 124 $ 142 $ 46 $ 274 $ 1,870 $ 170 $ 84 $ 3,544   $ 292 $ 1,385 $ 1,097
Hotel Operating Expenses:                        
Other Expenses 55,411 55,062 55,658 53,133 53,839 46,514 44,717 47,879        
Income (Loss) from Unconsolidated Joint Ventures 173 38 299 181 166 582 537 (201) $ (2,473) 691 1,084 (2,473)
(Loss) Income Before Income Taxes (2,155) (44) 9,590 (13,146) 1,756 5,672 13,007 (11,803)   (5,755) 8,632 110,202
Income Tax Expense (1,876) 551 (4,031) 5,264 933 (2,685) (1,170) 2,655   (92) (267) (5,262)
Net (Loss) Income (4,031) 507 5,559 (7,882) 2,689 2,987 11,837 (9,148) 104,940 (5,847) 8,365 104,940
Income (loss) Allocated to Noncontrolling Interests         (240) (72) 500 (1,104)        
(Loss) Income Allocated to Noncontrolling Interests - Consolidated Joint Ventures         241 250 (1,200) 0        
Preferred Distributions 6,043 6,044 6,043 6,044 6,043 6,044 6,043 6,044 $ 24,169 24,174 24,174 24,169
Net (Loss) Income Applicable to Common Shareholders $ (9,262) $ (5,435) $ (143) $ (13,003) $ (3,355) $ (3,235) $ 6,494 $ (14,088)   $ (27,843) $ (14,184) 75,699
Earnings per share:                        
Basic Net (Loss) Income applicable to Common Shareholders (in dollars per share) $ (0.24) $ (0.15) $ (0.01) $ (0.34) $ (0.09) $ (0.09) $ 0.16 $ (0.36)        
Diluted Net (Loss) Income applicable to Common Shareholders (in dollars per share) $ (0.24) $ (0.15) $ (0.01) $ (0.34) $ (0.09) $ (0.09) $ 0.16 $ (0.36)        
Weighted Average Common Shares Outstanding:                        
Basic (in shares) 38,516,879 38,878,818 39,127,385 39,115,390 39,334,877 39,321,062 39,246,946 39,636,166 41,423,804 38,907,894 39,383,763  
Diluted (in shares) 38,516,879 38,878,818 39,127,385 39,115,390 39,334,877 39,321,062 39,926,099 39,636,166 42,056,431 [1] 38,907,894 [1] 39,383,763 [1]  
Occupancy [Member]                        
Hotel Operating Revenues:                        
Hotel Operating Revenues $ 105,324 $ 108,909 $ 118,980 $ 91,485 $ 105,409 $ 103,958 $ 109,492 $ 79,048   $ 424,698 $ 397,907 411,149
Hotel Operating Expenses:                        
Hotel Operating Expenses 23,385 24,000 24,013 22,090 22,747 23,615 22,945 19,356   93,488 88,663 90,716
Food and Beverage [Member]                        
Hotel Operating Revenues:                        
Hotel Operating Revenues 17,028 15,870 18,253 14,228 18,379 15,628 17,001 13,538   65,379 64,546 58,491
Hotel Operating Expenses:                        
Hotel Operating Expenses 13,393 12,605 13,990 12,832 14,465 12,475 13,331 11,851   52,820 52,122 47,906
Hotel, Other [Member]                        
Hotel Operating Revenues:                        
Hotel Operating Revenues 10,241 10,140 10,280 8,930 8,884 8,143 7,269 6,929   39,591 31,225 27,500
Hotel Operating Expenses:                        
Hotel Operating Expenses 42,856 43,476 44,607 40,189 $ 41,901 $ 40,205 $ 40,383 $ 35,575   171,128 158,064 156,428
Noncontrolling Interests Common Units And LTIP Units [Member]                        
Hotel Operating Expenses:                        
Net (Loss) Income                   (2,366) (916) 5,072
Income (loss) Allocated to Noncontrolling Interests (812) (442) (49) (1,063)           (2,366) (916) 5,072
Joint Venture Partner [Member]                        
Hotel Operating Expenses:                        
Net (Loss) Income                   (300) (3,417)  
Income (loss) Allocated to Noncontrolling Interests $ 0 $ 340 $ (292) $ 140           $ 188 $ (709) $ 0
[1]
Income 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 applicable to common shareholders.