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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Revenue:    
Other Revenues $ 41 $ 12
Total Revenues 81,868 47,165
Operating Expenses:    
Property Losses in Excess of Insurance Recoveries 25 0
Hotel Ground Rent 1,090 1,100
Real Estate and Personal Property Taxes and Property Insurance 8,483 10,071
General and Administrative (including Share Based Payments of $2,541 and $2,169 for the three months ended March 31, 2022 and 2021, respectively) 5,318 4,944
Terminated Transaction Costs 0 354
Depreciation and Amortization 19,276 21,802
Total Operating Expenses 83,542 70,451
Operating Loss (1,674) (23,286)
Interest Income 1 1
Interest Expense (14,237) (13,429)
Other (Expense) Income (99) 461
Gain on Disposition of Hotel Properties 0 48,352
Loss on Debt Extinguishment 0 (2,940)
(Loss) Income Before Results from Unconsolidated Joint Venture Investments and Income Taxes (16,009) 9,159
Loss from Unconsolidated Joint Ventures (936) (658)
(Loss) Income Before Income Taxes (16,945) 8,501
Income Tax (Expense) Benefit (21) 589
Net (Loss) Income (16,966) 9,090
(Income) Loss Allocated to Noncontrolling Interests 2,724 (322)
(Income) Loss Allocated to Noncontrolling Interests - Consolidated Joint Venture (2,273) 158
Preferred Distributions (6,044) (6,043)
Net (Loss) Income Applicable to Common Shareholders $ (22,559) $ 2,883
BASIC    
(Loss) Income from Continuing Operations Applicable to Common Shareholders (in dollars per share) $ (0.58) $ 0.07
DILUTED    
(Loss) Income from Continuing Operations Applicable to Common Shareholders (in dollars per share) $ (0.58) $ 0.07
Weighted Average Common Shares Outstanding:    
Basic (in shares) 39,231,550 38,970,893
Diluted (in shares) [1] 39,231,550 39,840,474
Noncontrolling Interest | Common Shares    
Operating Expenses:    
Net (Loss) Income $ (2,724) $ 322
Room    
Revenue:    
Hotel Operating Revenues: 65,132 39,350
Operating Expenses:    
Hotel Operating Expenses 14,590 9,198
Food & Beverage    
Revenue:    
Hotel Operating Revenues: 9,056 3,074
Operating Expenses:    
Hotel Operating Expenses 8,404 2,873
Other Operating    
Revenue:    
Hotel Operating Revenues: 7,639 4,729
Operating Expenses:    
Hotel Operating Expenses $ 26,356 $ 20,109
[1] (Loss) 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 (loss) income applicable to common shareholders.