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INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Tables)
 9 Months Ended
Sep. 30, 2020
Equity Method Investments and Joint Ventures [Abstract]  
Schedule of investment in unconsolidated joint ventures
As of September 30, 2020 and December 31, 2019, our investment in unconsolidated joint ventures consisted of the following:
 Percent  
Joint VentureHotel PropertiesOwnedSeptember 30, 2020December 31, 2019
    
Cindat Hersha Owner JV, LLCHilton and IHG branded hotels in NYC31 %$— $— 
Hiren Boston, LLCCourtyard by Marriott, South Boston, MA50 %322 1,434 
SB Partners, LLCHoliday Inn Express, South Boston, MA50 %— — 
SB Partners Three, LLCHome2 Suites, South Boston, MA50 %6,760 7,012 
  $7,082 $8,446 
Schedule of income or loss from unconsolidated joint ventures
Income (loss) recognized during the three and nine months ended September 30, 2020 and 2019, for our investments in unconsolidated joint ventures is as follows:
Three Months Ended September 30,Nine Months Ended September 30,
2020201920202019
Cindat Hersha Owner JV, LLC$— $— $— $— 
Hiren Boston, LLC(457)79 (1,337)217 
SB Partners, LLC— — (600)375 
SB Partners Three, LLC(212)(41)(252)(74)
(Loss) Income from Unconsolidated Joint Venture Investments$(669)$38 $(2,189)$518 
Summary of financial information related to unconsolidated joint ventures
The following tables set forth the total assets, liabilities, equity and components of net income or loss, including the Company’s share, related to the unconsolidated joint ventures discussed above as of September 30, 2020 and December 31, 2019 and for the three and nine months ended September 30, 2020 and 2019.

Balance Sheets
September 30, 2020December 31, 2019
Assets
Investment in Hotel Properties, Net$585,369 $579,287 
Other Assets24,381 33,891 
Total Assets$609,750 $613,178 

Liabilities and Equity
Mortgages and Notes Payable$449,952 $430,282 
Other Liabilities27,646 19,185 
Equity:
Hersha Hospitality Trust6,859 9,588 
Joint Venture Partner(s)125,657 154,998 
Accumulated Other Comprehensive Loss(364)(875)
Total Equity132,152 163,711 

Total Liabilities and Equity$609,750 $613,178 
Statements of Operations
Three Months Ended September 30,Nine Months Ended September 30,
2020201920202019
Room Revenue$4,035 $25,098 $20,966 $68,444 
Other Revenue122 604 909 1,848 
Operating Expenses(3,621)(12,142)(15,234)(34,063)
Lease Expense(170)(164)(524)(529)
Property Taxes and Insurance(3,282)(3,161)(9,720)(9,264)
General and Administrative(567)(1,603)(2,083)(4,314)
Depreciation and Amortization(3,972)(3,731)(11,812)(11,085)
Interest Expense(5,487)(7,038)(17,356)(21,381)
Net Loss$(12,942)$(2,137)$(34,854)$(10,344)
Reconciliation of share in unconsolidated joint ventures equity in investment In unconsolidated joint ventures
The following table is a reconciliation of our share in the unconsolidated joint ventures’ equity to our investment in the unconsolidated joint ventures as presented on our balance sheets as of September 30, 2020 and December 31, 2019.
September 30, 2020December 31, 2019
Our share of equity recorded on the joint ventures' financial statements$6,859 $9,588 
Adjustment to reconcile our share of equity recorded on the joint ventures' financial statements to our investment in unconsolidated joint ventures(1)
223 (1,142)
Investment in Unconsolidated Joint Ventures$7,082 $8,446 

(1)  Adjustment to reconcile our share of equity recorded on the joint ventures' financial statements to our investment in unconsolidated joint ventures consists of the following:

•the difference between our basis in the investment in joint ventures and the equity recorded on the joint ventures' financial statements;
•accumulated amortization of our equity in joint ventures that reflects the difference in our portion of the fair value of joint ventures' assets on the date of our investment when compared to the carrying value of the assets recorded on the joint ventures’ financial statements (this excess or deficit investment is amortized over the life of the properties, and the amortization is included in Income (Loss) from Unconsolidated Joint Venture Investments on our consolidated statement of operations); and
•cumulative impairment of our investment in joint ventures not reflected on the joint ventures' financial statements, if any.