HERSHA HOSPITALITY TRUST
hersha.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q3 FY2023 10-Q, filed Nov 9, 2023. Its latest SEC filing is a SC 13G/A from Feb 8, 2024.
10-Q for Q3 FY2023, filed Nov 9, 2023
The sections below describe the company as of the FY2022 annual report.
What Did They Do?
Owns luxury, upscale and upper-midscale hotels in major urban markets, offering lodging, dining and banquet services to travelers and groups.
10-K for FY2022, filed Feb 23, 2023Hersha Hospitality Trust is a self-advised Maryland real estate investment trust that was organized in 1998 and completed its initial…View ↗
As of December 31, 2022, our portfolio consisted of 22 wholly-owned limited and full service properties with a total of 3,392 rooms, 1…View ↗
Room revenue is generated through contracts with customers whereby the customers agree to pay a daily rate for the right to use a hotel…View ↗
Food and beverage revenue is generated through contracts with customers whereby the customer agrees to pay a contract rate for restaurant…View ↗
How Did They Make Money?
Hotel guests pay daily room rates, generally at checkout; restaurant and banquet customers pay for services when provided, with deposits possible in advance. The company also earns fees based on hotel revenue for asset-management services at unconsolidated joint ventures.
10-K for FY2022, filed Feb 23, 2023Room revenue is generated through contracts with customers whereby the customers agree to pay a daily rate for the right to use a hotel…View ↗
Food and beverage revenue is generated through contracts with customers whereby the customer agrees to pay a contract rate for restaurant…View ↗
Other revenues consist primarily of fees earned for asset management services provided to hotels we own through unconsolidated joint…View ↗
$405.9M
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10-K for FY2022, filed Feb 24, 2023
$405.9M ↗
Who Were Their Customers?
Travelers and tour groups, along with corporate and government extended-stay customers, use its hotels; the properties also offer restaurant dining and banquets. Hotel management companies operate the properties.
10-K for FY2022, filed Feb 23, 2023working together with our hotel management companies to increase revenue per available room, or RevPAR, and to maximize the average daily…View ↗
We work closely with our hotel management companies to operate our hotels and increase hotel performance for our portfolio.View ↗
Room revenue is generated through contracts with customers whereby the customers agree to pay a daily rate for the right to use a hotel…View ↗
Food and beverage revenue is generated through contracts with customers whereby the customer agrees to pay a contract rate for restaurant…View ↗
Did Revenues Turn Into Profits?
Yes. It kept 41 cents of every revenue dollar as net income in FY2022.
10-K for FY2022, filed Feb 24, 2023
How Were They Changing?
- Net income
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Sources
10-Q for Q3 FY2023, filed Nov 10, 2023
$952KView ↗
- ▼ −99%
- vs $136.2M in Q3 FY2022
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Nov 28, 2023
Hersha completed a merger that ended its separate existence
Common shares were converted into the right to receive $10.00 per share in cash.
Sources
8-K, filed Nov 28, 2023
As a result of the Mergers, in accordance with the terms and conditions of the Merger Agreement, at the effective time of the Company…View ↗
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Aug 28, 2023
Hersha agreed to be acquired by KSL affiliates
Common shareholders were offered $10.00 per share in cash; closing was expected in the fourth quarter of 2023.
Sources
8-K, filed Aug 28, 2023
PHILADELPHIA, PENNSYLVANIA and DENVER, COLORADO, AUGUST 28, 2023 – Hersha Hospitality Trust (NYSE: HT) (“Hersha” or the “Company”), owner…View ↗
Shrank. Revenue fell 18% in 4 years, from $495.1M in FY2018 to $405.9M in FY2022, about 5% a year.
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