INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Effective Income Tax Reconciliation

The provision for income taxes differs from the amount of income tax determined by applying the applicable statutory federal income tax rate (21%) to pretax income from continuing operations as a result of the following differences:

	For the year ended December 31,
	2022		2021		2020
Statutory federal income tax provision	$	35,881	$	(9,241)	$	(37,365)
Adjustment for nontaxable income for Hersha Hospitality Trust	(32,658)		13,065		29,636
State income taxes, net of federal income tax effect	8,128		(1,367)		(2,720)
Non-deductible expenses, tax credits, and other, net	647		361		(1,317)
Changes in valuation allowance	(7,198)		(1,980)		23,095
Total income tax expense	$	4,800	$	838	$	11,329

Schedule of Components of Company's Income Tax Expense (Benefit)

The components of the Company’s income tax expense (benefit) for the years ended December 31, 2022, 2021 and 2020 were as follows:

	For the year ended December 31,
	2022		2021		2020
Income tax expense (benefit):
Current:
Federal	$	—	$	—	$	(51)
State	4,800		838		(10)
Deferred:
Federal	—		—		7,688
State	—		—		3,702
Total	$	4,800	$	838	$	11,329

Schedule of Components of Consolidated TRS's Deferred Tax Assets

The components of consolidated TRS’s net deferred tax asset as of December 31, 2022 and 2021 were as follows:

	As of December 31,
	2022		2021
Deferred tax assets:
Net operating loss carryforwards	$	13,245	$	19,084
Accrued expenses and other	773		2,002
Tax credit carryforwards	289		355
Depreciation and amortization	107		171
Total gross deferred tax assets	14,414		21,612
Valuation allowance	(14,414)		(21,612)
Total Net deferred tax assets	$	—	$	—

Schedule of Taxability of Common and Preferred Share Distributions

The following table sets forth certain per share information regarding the Company’s common and preferred share distributions for the years ended December 31, 2022, 2021 and 2020.

	2022		2021		2020
Preferred Shares - 6.875% Series C
Ordinary income	2.17	%	0.00	%	0.00	%
Return of Capital	0.00	%	0.00	%	100.00	%
Capital Gain Distribution	97.83	%	100.00	%	0.00	%
Preferred Shares - 6.5% Series D
Ordinary income	2.17	%	0.00	%	0.00	%
Return of Capital	0.00	%	0.00	%	100.00	%
Capital Gain Distribution	97.83	%	100.00	%	0.00	%
Preferred Shares - 6.5% Series E
Ordinary income	2.17	%	0.00	%	0.00	%
Return of Capital	0.00	%	0.00	%	100.00	%
Capital Gain Distribution	97.83	%	100.00	%	0.00	%
Common Shares - Class A
Ordinary income	2.17	%	N/A		0.00	%
Return of Capital	0.00	%	N/A		100.00	%
Capital Gain Distribution	97.83	%	N/A		0.00	%