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INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Tables)
 9 Months Ended
Sep. 30, 2022
Equity Method Investments and Joint Ventures [Abstract]  
Schedule of Investment in Unconsolidated Joint Ventures
As of September 30, 2022 and December 31, 2021, our investment in unconsolidated joint ventures consisted of the following:
Joint VentureHotel PropertiesPercent OwnedSeptember 30, 2022December 31, 2021
Hiren Boston, LLCCourtyard by Marriott, South Boston, MA50 %801 189 
SB Partners, LLCHoliday Inn Express, South Boston, MA50 %— — 
SB Partners Three, LLCHome2 Suites, South Boston, MA50 %5,164 5,391 
  $5,965 $5,580 
Schedule of Income or Loss from Unconsolidated Joint Ventures
Income (loss) recognized during the three and nine months ended September 30, 2022 and 2021, for our investments in unconsolidated joint ventures is as follows:
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
Cindat Hersha Owner JV, LLC$— $(229)$— $(229)
Hiren Boston, LLC$394 $(211)436 (900)
SB Partners, LLC— (135)(310)(185)
SB Partners Three, LLC84 (36)(227)(544)
Income (Loss) from Unconsolidated Joint Venture Investments$478 $(611)$(101)$(1,858)
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, 2022 and December 31, 2021 and for the three and nine months ended September 30, 2022 and 2021.
Balance Sheets
September 30, 2022December 31, 2021
Assets
Investment in Hotel Properties, Net$60,417 $64,096 
Other Assets19,281 15,649 
Total Assets$79,698 $79,745 
Liabilities and Equity
Mortgages$65,300 $65,723 
Other Liabilities15,702 15,656 
Equity:
Hersha Hospitality Trust3,555 3,328 
Joint Venture Partner(s)(4,859)(4,962)
Total Equity(1,304)(1,634)
Total Liabilities and Equity$79,698 $79,745 

Statements of Operations
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
Room Revenue$8,166 $3,838 $17,661 $7,981 
Other Revenue405 245 909 487 
Operating Expenses(4,156)(2,436)(10,239)(5,544)
Lease Expense(320)(220)(834)(736)
Property Taxes and Insurance(588)(503)(1,732)(2,451)
General and Administrative(71)(92)(107)(339)
Depreciation and Amortization(1,244)(1,199)(3,746)(4,811)
Interest Expense(923)(653)(2,364)(3,988)
Loss on Dissolution of Joint Venture— — — (112,429)
Income Tax (Expense) Benefit(114)(32)(62)62 
Net Income (Loss)$1,155 $(1,052)$(514)$(121,768)
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, 2022 and December 31, 2021.

September 30, 2022December 31, 2021
Our share of equity recorded on the joint ventures' financial statements$3,555 $3,328 
Adjustment to reconcile our share of equity recorded on the joint ventures' financial statements to our investment in unconsolidated joint ventures(1)
2,410 2,252 
Investment in Unconsolidated Joint Ventures$5,965 $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 difference between our basis in the investment in joint ventures and the equity recorded on the joint ventures' financial statements.