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INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Tables)
 12 Months Ended
Dec. 31, 2021
Equity Method Investments and Joint Ventures [Abstract]  
Investment In Unconsolidated Joint Ventures As of December 31, 2021 and December 31, 2020 our investment in unconsolidated joint ventures consisted of the following:
Joint VentureHotel PropertiesPercent OwnedDecember 31, 2021December 31, 2020
Cindat Hersha Owner JV, LLCHilton and IHG branded hotels in NYC31 %*$— $— 
Hiren Boston, LLCCourtyard by Marriott, South Boston, MA50 %189 219 
SB Partners, LLCHoliday Inn Express, South Boston, MA50 %— — 
SB Partners Three, LLCHome2 Suites, South Boston, MA50 %5,391 6,414 
$5,580 $6,633 
Income Or Loss From Unconsolidated Joint Ventures Loss (income) recognized during the years ended December 31, 2021, 2020 and 2019, for our investments in unconsolidated joint ventures is as follows:
Year Ended December 31,
202120202019
Cindat Hersha Owner JV, LLC$(229)$— $— 
Hiren Boston, LLC(1,104)(1,741)155 
SB Partners, LLC(185)(600)626 
SB Partners Three, LLC(774)(597)(90)
(Loss) Income from Unconsolidated Joint Venture Investments$(2,292)$(2,938)$691 
Summary 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 December 31, 2021 and December 31, 2020 and for the years ended December 31, 2021, 2020 and 2019. 
Balance Sheets
December 31, 2021December 31, 2020
Assets
Investment in Hotel Properties, Net$64,096 $581,452 
Other Assets15,649 32,048 
Total Assets$79,745 $613,500 
Liabilities and Equity
Mortgages and Notes Payable$65,723 $452,284 
Other Liabilities15,656 42,197 
Equity:
Hersha Hospitality Trust3,328 5,699 
Joint Venture Partners(4,962)113,452 
Accumulated Other Comprehensive Loss— (132)
Total Equity(1,634)119,019 
Total Liabilities and Equity$79,745 $613,500 
Statements of Operations
Year Ended December 31,
202120202019
Room Revenue$11,790 $25,011 $94,384 
Other Revenue731 1,020 2,408 
Operating Expenses(8,451)(18,695)(46,175)
Lease Expense(1,019)(770)(693)
Property Taxes and Insurance(3,095)(12,906)(12,477)
General and Administrative(87)(2,638)(5,783)
Depreciation and Amortization(6,065)(16,200)(14,947)
Interest Expense(4,619)(23,908)(28,072)
Loss on Dissolution of Joint Venture(112,371)— — 
Net Loss$(123,186)$(49,086)$(11,355)
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 December 31, 2021 and December 31, 2020.
December 31, 2021December 31, 2020
Our share of equity recorded on the joint ventures' financial statements$3,328 $5,699 
Adjustment to reconcile our share of equity recorded on the joint ventures' financial statements to our investment in unconsolidated joint ventures(1)
2,252 934 
Investment in Unconsolidated Joint Ventures$5,580 $6,633 
(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.