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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Revenue:    
Other Revenues $ 59 $ 41
Total Revenues 75,150 81,868
Operating Expenses:    
Property Losses in Excess of Insurance Recoveries 0 25
Hotel Ground Rent 318 1,090
Real Estate and Personal Property Taxes and Property Insurance 6,181 8,483
General and Administrative (including Share Based Payments of $2,052 and $2,541 for the three months ended March 31, 2023 and 2022, respectively) 4,932 5,318
Depreciation and Amortization 13,669 19,276
Total Operating Expenses 77,814 83,542
Operating Loss (2,664) (1,674)
Interest Income 1,739 1
Interest Expense (9,089) (13,870)
Other Income (Expense) 913 (99)
Loss on Debt Extinguishment (14) 0
Loss Before Results from Unconsolidated Joint Venture Investments and Income Taxes (9,115) (15,642)
Loss from Unconsolidated Joint Ventures (352) (936)
Loss Before Income Taxes (9,467) (16,578)
Income Tax Expense (34) (21)
Net Loss (9,501) (16,599)
Loss Allocated to Noncontrolling Interests - Common Units (1,996) (2,681)
Income Allocated to Noncontrolling Interests - Consolidated Joint Venture (1,390) (2,273)
Preferred Distributions (6,044) (6,044)
Net Loss Applicable to Common Shareholders $ (14,939) $ (22,235)
BASIC    
Loss from Continuing Operations Applicable to Common Shareholders (in dollars per share) $ (0.38) $ (0.57)
DILUTED    
Loss from Continuing Operations Applicable to Common Shareholders (in dollars per share) $ (0.38) $ (0.57)
Weighted Average Common Shares Outstanding:    
Basic (in shares) 39,626,231 39,231,550
Diluted (in shares) [1] 39,626,231 39,231,550
Room    
Revenue:    
Hotel Operating Revenues: $ 57,516 $ 65,132
Operating Expenses:    
Hotel Operating Expenses: 14,469 14,590
Food & Beverage    
Revenue:    
Hotel Operating Revenues: 10,927 9,056
Operating Expenses:    
Hotel Operating Expenses: 10,894 8,404
Other Operating Revenues    
Revenue:    
Hotel Operating Revenues: 6,648 7,639
Operating Expenses:    
Hotel Operating Expenses: $ 27,351 $ 26,356
[1] Loss 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 income (loss) applicable to common shareholders.