As of March 31, 2022 and December 31, 2021, our investment in unconsolidated joint ventures consisted of the following:


Joint Venture	Hotel Properties	Percent Owned		March 31, 2022		December 31, 2021


Hiren Boston, LLC	Courtyard by Marriott, South Boston, MA	50	%	106		189
SB Partners, LLC	Holiday Inn Express, South Boston, MA	50	%	—		—
SB Partners Three, LLC	Home2 Suites, South Boston, MA	50	%	5,024		5,391
				$	5,130	$	5,580

For SB Partners, LLC, Hiren Boston, LLC, and SB Partners Three, LLC, income or loss is allocated to us and our joint venture partners consistent with the allocation of cash distributions in accordance with the joint venture agreements. This results in an income allocation consistent with our percentage of ownership interests. When we absorb cumulative losses equal to our accounting basis in the joint venture, our investment balance is $0 as presented in the table above.

Any difference between the carrying amount of any of our investments noted above and the underlying equity in net assets is amortized over the expected useful lives of the properties and other intangible assets.

Loss recognized during the three months ended March 31, 2022 and 2021, for our investments in unconsolidated joint ventures is as follows:


	Three Months Ended March 31,
	2022		2021

Hiren Boston, LLC	$	(258)	$	(335)
SB Partners, LLC	(310)		—
SB Partners Three, LLC	(368)		(323)
Loss from Unconsolidated Joint Venture Investments	$	(936)	$	(658)

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 March 31, 2022 and December 31, 2021 and for the three months ended March 31, 2022 and 2021.


	March 31, 2022		December 31, 2021
Assets
Investment in Hotel Properties, Net	$	62,860	$	64,096
Other Assets	15,186		15,649
Total Assets	$	78,046	$	79,745

Liabilities and Equity
Mortgages and Notes Payable	$	65,622	$	65,723
Other Liabilities	15,481		15,656
Equity:
Hersha Hospitality Trust	2,679		3,328
Joint Venture Partner(s)	(5,736)		(4,962)
Accumulated Other Comprehensive Loss	—		—
Total Equity	(3,057)		(1,634)

Total Liabilities and Equity	$	78,046	$	79,745


	Three Months Ended March 31,
	2022		2021
Room Revenue	$	2,647	$	2,255
Other Revenue	186		117
Operating Expenses	(2,455)		(1,864)
Lease Expense	(257)		(270)
Property Taxes and Insurance	(572)		(1,565)
General and Administrative	(20)		(222)
Depreciation and Amortization	(1,253)		(2,312)
Interest Expense	(668)		(2,692)
Loss on Dissolution of Joint Venture	—		(112,429)
Income Tax Benefit	125		54
Net Loss	$	(2,267)	$	(118,928)

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 March 31, 2022 and December 31, 2021.


	March 31, 2022		December 31, 2021
Our share of equity recorded on the joint ventures' financial statements	$	2,679	$	3,328
Adjustment to reconcile our share of equity recorded on the joint ventures' financial statements to our investment in unconsolidated joint ventures(1)	2,451		2,252
Investment in Unconsolidated Joint Ventures	$	5,130	$	5,580

(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 Loss from Unconsolidated Joint Venture Investments on our consolidated statement of operations); and