Hersha Hospitality Trust (HT) 10-K20 Feb 152014 FY Annual reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
In Billions, except Share data, unless otherwise specified	Dec. 31, 2014	Jun. 30, 2014	Feb. 19, 2015
Entity Registrant Name	HERSHA HOSPITALITY TRUST
Entity Central Index Key	1063344
Current Fiscal Year End Date	-19
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float		$1.30
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	FY
Document Type	10-K
Amendment Flag	FALSE
Document Period End Date	31-Dec-14
Class A Common Shares [Member]
Entity Common Stock, Shares Outstanding			198,837,454
Class B Common Shares [Member]
Entity Common Stock, Shares Outstanding			0

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Assets:
Investment in Hotel Properties, Net of Accumulated Depreciation, Including Consolidation of Variable Interest Entity Assets of $84,247 and $85,759	$1,745,483	$1,535,835
Investment in Unconsolidated Joint Ventures	11,150	12,044
Cash and Cash Equivalents	21,675	36,213
Escrow Deposits	16,941	25,938
Hotel Accounts Receivable, Net of Allowance for Doubtful Accounts of $39 and $43	9,363	9,141
Deferred Financing Costs, Net of Accumulated Amortization of $6,938 and $7,070	8,605	7,570
Due from Related Parties	6,580	11,124
Intangible Assets, Net of Accumulated Amortization of $3,514 and $3,227	7,316	7,603
Deposits on Hotel Acquisitions		18,586
Other Assets	28,426	27,460
Hotel Assets Held for Sale		56,583
Total Assets	1,855,539	1,748,097
Liabilities and Equity:
Line of Credit
Unsecured Term Loan	250,000	150,000
Unsecured Notes Payable	51,548	51,548
Mortgages Payable, including Net Unamortized Premium and Consolidation of Variable Interest Entity Debt of $54,132 and $55,714	617,375	571,953
Accounts Payable, Accrued Expenses and Other Liabilities	54,115	40,852
Dividends and Distributions Payable	17,909	15,955
Due to Related Parties	7,203	4,815
Liabilities Related To Hotel Assets Held for Sale		45,835
Total Liabilities	998,150	880,958
Shareholders' Equity:
Preferred Shares: $.01 Par Value, 29,000,000 Shares Authorized, 4,600,000 Series B and 3,000,000 Series C Shares Issued and Outstanding at December 31, 2014 and December 31, 2013, with Liquidation Preferences of $25 Per Share (Note 1)	76	76
Accumulated Other Comprehensive Loss	-358	-376
Additional Paid-in Capital	1,193,056	1,200,798
Distributions in Excess of Net Income	-365,381	-364,568
Total Shareholders' Equity	829,382	837,958
Noncontrolling Interests (Note 1):
Noncontrolling Interests - Common Units	29,082	29,523
Noncontrolling Interest - Consolidated Variable Interest Entity	-1,075	-342
Total Noncontrolling Interests	28,007	29,181
Total Equity	857,389	867,139
Total Liabilities and Equity	1,855,539	1,748,097
Class A Common Shares [Member]
Shareholders' Equity:
Common Shares	1,989	2,028
Class B Common Shares [Member]
Shareholders' Equity:
Common Shares

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Assets:
Consolidation of variable interest entity assets	$84,247	$85,759
Hotel Accounts Receivable, Allowance for Doubtful Accounts	39	43
Deferred Financing Costs, Accumulated Amortization	6,938	7,070
Intangible Assets, Accumulated Amortization	3,514	3,227
Liabilities and Equity:
Consolidation of variable interest entity debt	$54,132	$55,714
Shareholders' Equity:
Preferred Shares - Outstanding (in shares)	7,600,000	7,600,000
Series B and C Preferred Shares [Member]
Shareholders' Equity:
Preferred Shares - Par Value (in dollars per share)	$0.01	$0.01
Preferred Shares - Authorized (in shares)	29,000,000	29,000,000
Preferred Shares - Liquidation Preference Value (in dollars per share)	$25	$25
Series B Preferred Stock [Member]
Shareholders' Equity:
Preferred Shares - Issued (in shares)	4,600,000	4,600,000
Preferred Shares - Outstanding (in shares)	4,600,000	4,600,000
Series C Preferred Shares [Member]
Shareholders' Equity:
Preferred Shares - Issued (in shares)	3,000,000	3,000,000
Preferred Shares - Outstanding (in shares)	3,000,000	3,000,000
Class A Common Shares [Member]
Shareholders' Equity:
Common Shares - Par Value (in dollars per share)	$0.01	$0.01
Common Shares - Authorized (in shares)	300,000,000	300,000,000
Common Shares - Issued (in shares)	198,835,083	202,759,419
Common Shares - Outstanding (in shares)	198,835,083	202,759,419
Class B Common Shares [Member]
Shareholders' Equity:
Common Shares - Par Value (in dollars per share)	$0.01	$0.01
Common Shares - Authorized (in shares)	1,000,000	1,000,000
Common Shares - Issued (in shares)	0	0
Common Shares - Outstanding (in shares)	0	0

Consolidated_Statement_Of_Oper

Consolidated Statement Of Operations (USD $)	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014		Dec. 31, 2013		Dec. 31, 2012
Revenue:
Hotel Operating Revenues	$417,226		$338,064		$299,005
Interest Income from Development Loans			158		1,998
Other Revenues	180		191		212
Total Revenues	417,406		338,413		301,215
Operating Expenses:
Hotel Operating Expenses	227,324		188,431		161,982
Insurance Recoveries	-4,604		-403
Hotel Ground Rent	2,433		985		835
Real Estate and Personal Property Taxes and Property Insurance	30,342		24,083		19,341
General and Administrative (including Share Based Payments of $6,028, $9,746, and $9,678 for the year ended December 31, 2014, 2013 and 2012, respectively)	20,363		23,869		23,377
Acquisition and Terminated Transaction Costs	2,472		974		1,179
Depreciation and Amortization	69,167		55,784		48,243
Contingent Consideration Related to Acquisition of Hotel Property	2,000
Total Operating Expenses	349,497		293,723		254,957
Operating Income	67,909		44,690		46,258
Interest Income	805		1,784		1,311
Interest Expense	-43,357		-40,935		-38,070
Other Expense	485		102		43
Gain on Disposition of Hotel Properties	7,195
Gain on Hotel Acquisitions, Net	12,667		12,096
Development Loan Recovery	22,494
Loss on Debt Extinguishment	-670		-545		-3,189
Income Before Income (Loss) from Unconsolidated Joint Venture Investments, Income Taxes and Discontinued Operations	66,558		16,988		6,267
Income (Loss) from Unconsolidated Joint Ventures	693		-22		-232
Impairment of Investment in Unconsolidated Joint Venture			-1,813
Loss from Remeasurement of Investment in Unconsolidated Joint Venture					-1,892
Income (Loss) from Unconsolidated Joint Venture Investments	693		-1,835		-2,124
Income Before Income Taxes	67,251		15,153		4,143
Income Tax Benefit	2,685		5,600		3,355
Income from Continuing Operations	69,936		20,753		7,498
Discontinued Operations (Note 11):
(Loss) Gain on Disposition of Discontinued Assets	-128		32,121		11,231
Impairment of Discontinued Assets	-1,800		-10,314
Income from Discontinued Operations, Net of Income Taxes	263		7,388		3,489
(Loss) Income from Discontinued Operations	-1,665		29,195		14,720
Net Income	68,271		49,948		22,218
(Income) Loss Allocated to Noncontrolling Interests	-1,016		-335		158
Preferred Distributions	-14,356		-14,611		-14,000
Less: Extinguishment of Issuance Costs Upon Redemption of Series A Preferred Shares			-2,250
Net Income Applicable to Common Shareholders	$52,899		$32,752		$8,376
BASIC
Income (Loss) from Continuing Operations Applicable to Common Shareholders	$0.27		$0.02		($0.03)
Income (Loss) from Discontinued Operations Applicable to Common Shareholders	($0.01)		$0.14		$0.07
Net Income (Loss) Applicable to Common Shareholders	$0.26		$0.16		$0.04
DILUTED
Income (Loss) from Continuing Operations Applicable to Common Shareholders	$0.27		$0.02		($0.03)
Income (Loss) from Discontinued Operations Applicable to Common Shareholders	($0.01)		$0.14		$0.07
Net Income (Loss) Applicable to Common Shareholders	$0.26		$0.16		$0.04
Weighted Average Common Shares Outstanding:
Basic	199,109,209		198,390,450		187,415,270
Diluted	201,197,310	[1]	201,918,177	[1]	187,415,270	[1]

[1]	Income (loss) allocated to noncontrolling interest in Hersha Hospitality Limited Partnership (the bOperating Partnershipb or bHHLPb) has been excluded from the numerator and common units of limited partnership interest (bCommon Unitsb) in the Operating Partnership have been omitted from the denominator for the purpose of computing diluted earnings per share since the effect of including these shares and units in the numerator and denominator would have no impact.B B In addition, potentially dilutive common shares, if any, have been excluded from the denominator if they are anti-dilutive to income (loss) from continuing operations applicable to common shareholders.

Consolidated_Statement_Of_Oper1

Consolidated Statement Of Operations (Parenthetical) (USD $)	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Potentially dilutive securities that have been excluded from earnings per share:
Share Based Payments	$6,028	$9,746	$9,678
Potentially Dilutive Securities Excluded from the Denominator	6,942,360	6,968,035	10,695,345
Common Units [Member]
Potentially dilutive securities that have been excluded from earnings per share:
Potentially Dilutive Securities Excluded from the Denominator	6,909,649	6,968,035	7,208,123
LTIP Units [Member]
Potentially dilutive securities that have been excluded from earnings per share:
Potentially Dilutive Securities Excluded from the Denominator	32,711
Unvested Stock Awards Outstanding [Member]
Potentially dilutive securities that have been excluded from earnings per share:
Potentially Dilutive Securities Excluded from the Denominator			433,097
Contingently Issuable Share Awards [Member]
Potentially dilutive securities that have been excluded from earnings per share:
Potentially Dilutive Securities Excluded from the Denominator			2,778,545
Options To Acquire Common Shares Outstanding [Member]
Potentially dilutive securities that have been excluded from earnings per share:
Potentially Dilutive Securities Excluded from the Denominator			275,580

Consolidated_Statements_Of_Com

Consolidated Statements Of Comprehensive Income (Loss) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Consolidated Statements Of Comprehensive Income (Loss) [Abstract]
Net Income	$68,271	$49,948	$22,218
Other Comprehensive Income (Loss)
Change in Fair Value of Derivative Instruments	1,527	2,694	1,073
Less: Reclassification Adjustment for Change in Fair Value of Derivative Instruments Included in Net Income	-1,509	-1,284	-1,708
Comprehensive Income	68,289	51,358	21,583
Less: Comprehensive Loss (Income) Attributable to Noncontrolling Interests	-1,016	-335	158
Less: Preferred Distributions	-14,356	-14,611	-14,000
Less: Extinguishment of Issuance Costs Upon Redemption of Series A Preferred Shares		-2,250
Comprehensive Income Attributable to Common Shareholders	$52,917	$34,162	$7,741

Consolidated_Statements_Of_Equ

Consolidated Statements Of Equity (USD $)	Common Shares [Member]	Common Shares [Member]	Preferred Shares [Member]	Additional Paid-In Capital [Member]	Accumulated Other Comprehensive Loss [Member]	Distributions in Excess of Net Earnings [Member]	Total Shareholders' Equity [Member]	Noncontrolling Interests Shares [Member]	Noncontrolling Interests Common Units [Member]	Noncontrolling Interests Consolidated Joint Ventures [Member]	Noncontrolling Interests Consolidated Variable Interest Entity [Member]	Total Noncontrolling Interests [Member]	Redeemable Noncontrolling Interests Shares [Member]	Redeemable Noncontrolling Interests Common Units [Member]	Total
	Class A Common Shares [Member]		USD ($)	USD ($)	USD ($)	USD ($)	USD ($)	USD ($)	USD ($)	USD ($)	USD ($)	USD ($)		USD ($)	USD ($)
	USD ($)
Balance at Dec. 31, 2011	$1,699,000		$70,000	$1,041,027,000	($1,151,000)	($310,972,000)	$730,673,000		$16,862,000	$307,000		$17,169,000		$14,955,000	$747,842,000
Balance (in shares) at Dec. 31, 2011		169,969,973	7,000,000					4,206,064					3,064,252
Unit Conversion	1,000			571,000			572,000		-572,000			-572,000
Unit Conversion (in shares)		157,810						-157,810							157,810
Reclassification / Reallocation of Noncontrolling Interest				-966,000			-966,000							966,000	-966,000
Common Stock Issuance
Common Stock Offering, net of costs	240,000			128,318,000			128,558,000								128,558,000
Common Stock Offering, net of costs (in shares)		24,000,000
Common Stock Option Cancellation	25,000			-25,000
Common Stock Option Cancellation (in shares)		2,521,561
Dividends and Distributions declared:
Common Shares						-46,138,000	-46,138,000								-46,138,000
Preferred Shares						-14,000,000	-14,000,000								-14,000,000
Common Units									-991,000			-991,000		-736,000	-991,000
Dividend Reinvestment Plan				24,000			24,000								24,000
Dividend Reinvestment Plan (in shares)		5,117
Stock Based Compensation
Grants	21,000			2,616,000			2,637,000								2,637,000
Grants (in shares)		2,017,895
Amortization				6,727,000			6,727,000								6,727,000
Consolidation of Variable Interest Entity											956,000	956,000			956,000
Deconsolidation of Consolidated Joint Ventures										-307,000		-307,000			-307,000
Change in Fair Value of Derivative Instruments					-635,000		-635,000								-635,000
Net Income (Loss)						22,376,000	22,376,000		185,000		-480,000	-295,000		136,000	22,081,000
Balance at Dec. 31, 2012	1,986,000		70,000	1,178,292,000	-1,786,000	-348,734,000	829,828,000		15,484,000		476,000	15,960,000		15,321,000	845,788,000
Balance (in shares) at Dec. 31, 2012		198,672,356	7,000,000					4,048,254					3,064,252	3,064,252
Unit Conversion	1,000			-234,000			-233,000		-766,000			-766,000			-999,000
Unit Conversion (in shares)		27,790						-197,790							27,790
Reclassification / Reallocation of Noncontrolling Interest								3,064,252	15,365,000			15,365,000		-15,365,000	15,365,000
Reclassification / Reallocation of Noncontrolling Interest (in shares)														-3,064,252
Preferred Stock Issuance
Preferred Stock Offering, net of costs			30,000	72,340,000			72,370,000								72,370,000
Preferred Stock Offering, net of costs (in shares)			3,000,000
Preferred Stock Redemption			-24,000	-59,976,000			-60,000,000								-60,000,000
Preferred Stock Redemption (in shares)			-2,400,000
Dividends and Distributions declared:
Common Shares						-50,836,000	-50,836,000								-50,836,000
Preferred Shares						-14,611,000	-14,611,000								-14,611,000
Common Units									-1,669,000			-1,669,000			-1,669,000
Dividend Reinvestment Plan				38,000			38,000								38,000
Dividend Reinvestment Plan (in shares)		7,206
Stock Based Compensation
Grants	41,000			467,000			508,000								508,000
Grants (in shares)		4,052,067
Amortization				9,871,000			9,871,000								9,871,000
Change in Fair Value of Derivative Instruments					1,410,000		1,410,000								1,410,000
Net Income (Loss)						49,613,000	49,613,000		1,109,000		-818,000	291,000		44,000	49,904,000
Balance at Dec. 31, 2013	2,028,000		76,000	1,200,798,000	-376,000	-364,568,000	837,958,000		29,523,000		-342,000	29,181,000			867,139,000
Balance (in shares) at Dec. 31, 2013		202,759,419	7,600,000					6,914,716
Unit Conversion				-77,000			-77,000	-65,304	-261,000			-261,000			-338,000
Unit Conversion (in shares)		18,900													18,900
Restricted Shares Forfeiture/LTIP Unit Issuance	-19,000			19,000
Restricted Shares Forfeiture (in shares)		1,948,324													1,948,324
LTIP Unit Issuance (in shares)								1,948,324							1,948,324
Repurchase of Common Shares	-26,000			-13,771,000		-1,621,000	-15,418,000								-15,418,000
Repurchase of Common Shares (in shares)		2,626,854													-2,626,854
Dividends and Distributions declared:
Common Shares						-52,091,000	-52,091,000								-52,091,000
Preferred Shares						-14,356,000	-14,356,000								-14,356,000
Common Units									-1,793,000			-1,793,000			-1,793,000
LTIP Units									-136,000			-136,000			-136,000
Dividend Reinvestment Plan				50,000			50,000								50,000
Dividend Reinvestment Plan (in shares)		8,647
Stock Based Compensation
Grants	6,000			641,000			647,000								647,000
Grants (in shares)		641,295
Amortization				5,396,000			5,396,000								5,396,000
Change in Fair Value of Derivative Instruments					18,000		18,000								18,000
Net Income (Loss)						67,255,000	67,255,000		1,749,000		-733,000	1,016,000			68,271,000
Balance at Dec. 31, 2014	$1,989,000		$76,000	$1,193,056,000	($358,000)	($365,381,000)	$829,382,000		$29,082,000		($1,075,000)	$28,007,000			$857,389,000
Balance (in shares) at Dec. 31, 2014		198,853,083	7,600,000					8,797,736

Consolidated_Statements_Of_Equ1

Consolidated Statements Of Equity (Parenthetical) (USD $)	12 Months Ended
Consolidated Statements Of Equity (Parenthetical) (USD $)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Dividends and Distributions declared:
Common Stock, Dividends declared (in dollars per share)	$0.26	$0.24	$0.24
Common Units, Distributions declared (in dollars per share)	$0.26	$0.24	$0.24
Incentive Distribution, Distribution Per Unit	$0.07

Consolidated_Statements_Of_Cas

Consolidated Statements Of Cash Flows (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Operating Activities:
Net income	$68,271	$49,948	$22,218
Adjustments to Reconcile Net Loss to Net Cash Provided by Operating Activities:
Gain on Hotel Acquisitions, Net	-12,667	-12,096
Contingent Consideration	2,000
Development Loan Recovery	-22,494
Gain on Disposition of Hotel Properties	-7,067	-32,121	-11,231
Impairment of Hotel Assets	1,800	10,314
Deferred Taxes	-2,685	-5,500	-3,355
Depreciation	68,753	61,801	56,071
Amortization	1,979	2,545	3,680
Loss on Debt Extinguishment	673	471	2,261
Development Loan Interest Added to Principal			-678
Equity in Loss of Unconsolidated Joint Ventures	-693	1,835	2,124
Distributions from Unconsolidated Joint Ventures	1,262	568	1,387
Loss Recognized on Change in Fair Value of Derivative Instrument	71	22	658
Stock Based Compensation Expense	6,028	9,746	9,678
(Increase) Decrease in:
Hotel Accounts Receivable	-350	2,419	-235
Escrows	1,272	476	-1,944
Other Assets	2,182	-4,269	-2,683
Due from Related Parties	4,544	-2,636	-5,500
Increase (Decrease) in:
Due to Related Parties	2,388	412	1,541
Accounts Payable, Accrued Expenses and Other Liabilities	-2,373	6,326	-2,236
Net Cash Provided by Operating Activities	112,894	90,261	71,756
Investing Activities:
Purchase of Hotel Property Assets	-175,236	-217,142	-67,637
Deposits on Hotel Acquisitions, Net		-1,836	-18,750
Capital Expenditures	-38,342	-42,854	-28,443
Cash Paid for Hotel Development Projects	-3,764	-20,054	-10,171
Proceeds from Disposition of Hotel Properties	30,056	136,015	63,722
Net Changes in Capital Expenditure Escrows	4,577	-1,287	-4,454
Investment in Notes Receivable			-150
Repayment of Notes Receivable			1,720
Proceeds from Insurance Claims	1,881	5,001
Repayment of Development Loans Receivable		15,122	8,000
Distributions from Unconsolidated Joint Venture	324	1,711	476
Advances and Capital Contributions to Unconsolidated Joint Ventures		-150	-130
Net Cash Used in Investing Activities	-180,504	-125,474	-55,817
Financing Activities:
Proceeds from (Repayments of) Borrowings Under Line of Credit, Net			-51,000
Proceeds from Unsecured Term Loan Borrowing	100,000	50,000	100,000
Principal Repayment of Mortgages and Notes Payable	-61,348	-54,398	-187,478
Proceeds from Mortgages and Notes Payable	101,000	65,000	98,695
Cash Paid for Deferred Financing Costs	-4,450	-2,283	-96
Proceeds from Issuance of Preferred Stock, Net		72,370
Proceeds from Issuance of Common Shares, Net			128,558
Redemption of Series A Preferred Stock		-60,000
Repurchase of Common Shares	15,418
Redemption of Common Partnership Units	-338	-1,000
Settlement of Interest Rate Cap	-8	-565
Dividends Paid on Common Shares	-50,286	-50,553	-44,391
Dividends Paid on Preferred Shares	-14,356	-14,522	-14,000
Distributions Paid on Common Partnership Units	-1,724	-1,682	-1,736
Net Cash Provided by Financing Activities	53,072	2,367	28,552
Net Increase (Decrease) in Cash and Cash Equivalents	-14,538	-32,846	44,491
Cash and Cash Equivalents - Beginning of Period	36,213	69,059	24,568
Cash and Cash Equivalents - End of Period	$21,675	$36,213	$69,059

Organization_And_Summary_Of_Si

Organization And Summary Of Significant Accounting Policies

12 Months Ended

Dec. 31, 2014

Organization And Summary Of Significant Accounting Policies [Abstract]

Organization And Summary Of Significant Accounting Policies

NOTE 1 – ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Hersha Hospitality Trust (“we” or the “Company”) was formed in May 1998 as a self-administered, Maryland real estate investment trust. We have elected to be taxed and expect to continue to elect to be taxed as a real estate investment trust, or REIT, for federal income tax purposes.

The Company owns a controlling general partnership interest in Hersha Hospitality Limited Partnership (“HHLP” or the “Partnership”), which owns a 99% limited partnership interest in various subsidiary partnerships. Hersha Hospitality, LLC (“HHLLC”), a Virginia limited liability company, owns a 1% general partnership interest in the subsidiary partnerships and the Partnership is the sole member of HHLLC.

The Partnership owns a taxable REIT subsidiary (“TRS”), 44 New England Management Company (“44 New England” or “TRS Lessee”), which leases certain of the Company’s hotels.

Hersha’s common shares of beneficial interest trade on the New York Stock Exchange (“the NYSE”) under the ticker symbol "HT", its 8.0% Series B preferred shares of beneficial interest trade on the NYSE under the ticker symbol “HT PR B” and its 6.875% Series C preferred shares of beneficial interest trade on the NYSE under the ticker symbol “HT PR C.”

As of December 31, 2014, the Company, through the Partnership and subsidiary partnerships, wholly owned 46 limited and full service hotels. All of the wholly owned hotel facilities are leased to the Company’s TRS, 44 New England.

In addition to the wholly owned hotel properties, as of December 31, 2014, the Company owned joint venture interests in another five properties. The properties owned by the joint ventures are leased to a TRS owned by the joint venture or to an entity owned by the joint venture partners and 44 New England. The following table lists the properties owned by these joint ventures:

Joint Venture

Ownership

Property

Location

Lessee/Sublessee

Unconsolidated Joint Ventures

Mystic Partners, LLC

66.70%

Marriott

Mystic, CT

Mystic Partners Leaseco, LLC

8.80%

Hilton

Hartford, CT

Mystic Partners Leaseco, LLC

15.00%

Marriott

Hartford, CT

Mystic Partners Leaseco, LLC

SB Partners, LLC

50.00%

Holiday Inn Express

South Boston, MA

South Bay Sandeep, LLC

Hiren Boston, LLC

50.00%

Courtyard

South Boston, MA

South Bay Boston, LLC

Mystic Partners, LLC owns an interest in three hotel properties. Our interest in Mystic Partners, LLC is relative to our interest in each of the three properties owned by the joint venture as defined in the joint venture’s governing documents. Each of the three properties owned by Mystic Partners, LLC is leased to a separate entity that is consolidated in Mystic Partners Leaseco, LLC which is owned by 44 New England and our joint venture partner in Mystic Partners, LLC.

The properties are managed by eligible independent management companies, including Hersha Hospitality Management, LP (“HHMLP”). HHMLP is owned in part by certain of our trustees and executive officers and other unaffiliated third party investors.

Principles of Consolidation and Presentation

The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles and include all of our accounts as well as accounts of the Partnership, subsidiary partnerships and our wholly owned TRS Lessee. All significant inter-company amounts have been eliminated.

NOTE 1 – ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Consolidated properties are either wholly owned or owned less than 100% by the Partnership and are controlled by the Company as general partner of the Partnership. Properties owned in joint ventures are also consolidated if the determination is made that we are the primary beneficiary in a variable interest entity (VIE) or we maintain control of the asset through our voting interest in the entity. Control can be demonstrated when the general partner has the power to impact the economic performance of the partnership, which includes the ability of the general partner to manage day-to-day operations, refinance debt and sell the assets of the partnerships without the consent of the limited partners and the inability of the limited partners to replace the general partner. Control can be demonstrated by the limited partners if the limited partners have the right to dissolve or liquidate the partnership or otherwise remove the general partner without cause or have rights to participate in the significant decisions made in the ordinary course of the partnership’s business.

We evaluate each of our investments and contractual relationships to determine whether they meet the guidelines of consolidation. Entities are consolidated if the determination is made that we are the primary beneficiary in a VIE or we maintain control of the asset through our voting interest or other rights in the operation of the entity. To determine if we are the primary beneficiary of a VIE, we evaluate whether we have a controlling financial interest in that VIE. An enterprise is deemed to have a controlling financial interest if it has i) the power to direct the activities of a variable interest entity that most significantly impact the entity’s economic performance, and ii) the obligation to absorb losses of the VIE that could be significant to the VIE or the rights to receive benefits from the VIE that could be significant to the VIE. Control can also be demonstrated by the ability of a member to manage day-to-day operations, refinance debt and sell the assets of the partnerships without the consent of the other member and the inability of the members to replace the managing member. Based on our examination, the following entities were determined to be VIE’s: Mystic Partners, LLC; Mystic Partners Leaseco, LLC; South Bay Boston, LLC; Brisam Management DE, LLC; Hersha Statutory Trust I; and Hersha Statutory Trust II. Mystic Partners, LLC is a VIE entity, however because we are not the primary beneficiary it is not consolidated by the Company. Our maximum exposure to losses due to our investment in Mystic Partners, LLC is limited to our investment in the joint venture which is $5,556 as of December 31, 2014. Also, Mystic Partners Leaseco, LLC; and South Bay Boston, LLC lease hotel properties from our joint venture interests and are VIEs. These entities are consolidated by the lessors, the primary beneficiaries of each entity. Brisam Management DE, LLC is consolidated in our financial statements, as we are considered to be the primary beneficiary. Hersha Statutory Trust I and Hersha Statutory Trust II are VIEs but HHLP is not the primary beneficiary in these entities. Accordingly, the accounts of Hersha Statutory Trust I and Hersha Statutory Trust II are not consolidated with and into HHLP.

We allocate resources and assess operating performance based on individual hotels and consider each one of our hotels to be an operating segment. All of our individual operating segments meet the aggregation criteria. All of our other real estate investment activities are immaterial and meet the aggregation criteria, and thus, we report one segment: investment in hotel properties.

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States (US GAAP) requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.

Although we believe the assumptions and estimates we made are reasonable and appropriate, as discussed in the applicable sections throughout these Consolidated Financial Statements, different assumptions and estimates could materially impact our reported results. The current economic environment has increased the degree of uncertainty inherent in these estimates and assumptions and changes in market conditions could impact our future operating results.

Investment in Hotel Properties

The Company allocates the purchase price of hotel properties acquired based on the fair value of the acquired real estate, furniture, fixtures and equipment, and intangible assets and the fair value of liabilities assumed, including debt. The fair value allocations were determined using Level 3 inputs, which are typically unobservable and are based on our own assumptions, as there is little, if any, related market activity. The Company’s investments in hotel properties are carried at cost and are depreciated using the straight-line method over the following estimated useful lives:

Building and Improvements 7 to 40 Years

Furniture, Fixtures and Equipment 2 to 7 Years

NOTE 1 – ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

The Company periodically reviews the carrying value of each hotel to determine if circumstances indicate impairment to the carrying value of the investment in the hotel or that depreciation periods should be modified. If facts or circumstances support the possibility of impairment, the Company will prepare an estimate of the undiscounted future cash flows, without interest charges, of the specific hotel. Based on the properties undiscounted future cash flows, the Company will determine if the investment in such hotel is recoverable. If impairment is indicated, an adjustment will be made to reduce the carrying value of the hotel to reflect the hotel at fair value.

We consider a hotel to be held for sale when management and our independent trustees commit to a plan to sell the property, the property is available for sale, management engages in an active program to locate a buyer for the property and it is probable the sale will be completed within a year of the initiation of the plan to sell.

Acquisition-related cost, such as due diligence, legal and accounting fees, are not capitalized or applied in determining the fair value of the above acquired assets.

Investment in Unconsolidated Joint Ventures

If it is determined that we do not have a controlling interest in a joint venture, either through our financial interest in a VIE or our voting interest in a voting interest entity, the equity method of accounting is used. Under this method, the investment, originally recorded at cost, is adjusted to recognize our share of net earnings or losses of the affiliates as they occur rather than as dividends or other distributions are received, limited to the extent of our investment in, advances to and commitments for the investee. Pursuant to our joint venture agreements, allocations of profits and losses of some of our investments in unconsolidated joint ventures may be allocated disproportionately as compared to nominal ownership percentages due to specified preferred return rate thresholds.

The Company periodically reviews the carrying value of its investment in unconsolidated joint ventures to determine if circumstances indicate impairment to the carrying value of the investment that is other than temporary. When an impairment indicator is present, we will estimate the fair value of the investment. Our estimate of fair value takes into consideration factors such as expected future operating income, trends and prospects, as well as the effects of demand, competition and other factors. This determination requires significant estimates by management, including the expected cash flows to be generated by the assets owned and operated by the joint venture. To the extent impairment has occurred and the impairment is considered other than temporary, the loss will be measured as the excess of the carrying amount over the fair value of our investment in the unconsolidated joint venture.

Cash and Cash Equivalents

Cash and cash equivalents represent cash on hand and in banks plus short-term investments with an initial maturity of three months or less when purchased.

Escrow Deposits

Escrow deposits include reserves for debt service, real estate taxes, and insurance and reserves for furniture, fixtures, and equipment replacements, as required by certain mortgage debt agreement restrictions and provisions.

Hotel Accounts Receivable

Hotel accounts receivable consists primarily of meeting and banquet room rental and hotel guest receivables. The Company generally does not require collateral. Ongoing credit evaluations are performed and an allowance for potential losses from uncollectible accounts is provided against the portion of accounts receivable that is estimated to be uncollectible.

NOTE 1 – ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Deferred Financing Costs

Deferred financing costs are recorded at cost and amortized over the terms of the related indebtedness using the effective interest method.

Due from/to Related Parties

Due from/to Related Parties represents current receivables and payables resulting from transactions related to hotel management and project management with affiliated entities. Due from related parties results primarily from advances of shared costs incurred and interest receivable on development loans made to related parties. Due to affiliates results primarily from hotel management and project management fees incurred. Both due to and due from related parties are generally settled within a period not to exceed one year.

Intangible Assets and Liabilities

Intangible assets consist of leasehold intangibles for above-market value of in-place leases and deferred franchise fees. The leasehold intangibles are amortized over the remaining lease term. Deferred franchise fees are amortized using the straight-line method over the life of the franchise agreement.

Intangible liabilities consist of leasehold intangibles for below-market value of in-place leases. The leasehold intangibles are amortized over the remaining lease term. Intangible liabilities are included in the accounts payable, accrued expenses and other liabilities on the Company’s consolidated balance sheets.

Development Project Capitalization

We have opportunistically engaged in the development and re-development of hotel assets. We capitalize expenditures related to hotel development projects and renovations, including indirect costs such as interest expense, real estate taxes and utilities related to hotel development projects and renovations.

Noncontrolling Interest

Noncontrolling interest in the Partnership represents the limited partner’s proportionate share of the equity of the Partnership. Income (loss) is allocated to noncontrolling interest in accordance with the weighted average percentage ownership of the Partnership during the period. At the end of each reporting period the appropriate adjustments to the income (loss) are made based upon the weighted average percentage ownership of the Partnership during the period. Our ownership interest in the Partnership as of December 31, 2014, 2013 and 2012 was 95.8%, 96.7%, and 96.5%, respectively.

We define a noncontrolling interest as the portion of equity in a subsidiary not attributable, directly or indirectly, to a parent. Such noncontrolling interests are reported on the consolidated balance sheets within equity, but separately from the shareholders’ equity. Revenues, expenses and net income or loss attributable to both the Company and noncontrolling interests are reported on the consolidated statements of operations.

In accordance with US GAAP, we classify securities that are redeemable for cash or other assets at the option of the holder, or not solely within the control of the issuer, outside of permanent equity in the consolidated balance sheet. The Company makes this determination based on terms in applicable agreements, specifically in relation to redemption provisions. Additionally, with respect to noncontrolling interests for which the Company has a choice to settle the contract by delivery of its own shares, the Company considers the guidance in US GAAP to evaluate whether the Company controls the actions or events necessary to issue the maximum number of common shares that could be required to be delivered at the time of settlement of the contract.

We classify the noncontrolling interests of our consolidated joint ventures, consolidated variable interest entity, and certain Common Units (“Nonredeemable Common Units”) as equity. The noncontrolling interests of Nonredeemable Common Units totaled $29,082 as of December 31, 2014 and $29,523 as of December 31, 2013. As of December 31, 2014, there were 8,797,736 Nonredeemable Common Units outstanding with a fair market value of $61,848, based on the price per share of our common shares on the NYSE on such date.

NOTE 1 – ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

In accordance with the partnership agreement of the Partnership, holders of these units may redeem them for cash unless we, in our sole and absolute discretion, elect to issue common shares on a one-for-one basis in lieu of paying cash.

Prior to February 1, 2013, certain Common Units (“Redeemable Common Units”) had been pledged as collateral in connection with a pledge and security agreement entered into by the Company and the holders of the Redeemable Common Units. The redemption feature contained in the pledge and security agreement where the Redeemable Common Units served as collateral contains a provision that could result in a net cash settlement outside of the control of the Company. As a result, prior to February 1, 2013, the Redeemable Common Units were classified in the mezzanine section of the consolidated balance sheets as they did not meet the requirements for equity classification under US GAAP. Effective February 1, 2013, the aforementioned pledge and security agreement is no longer in place and therefore these Common Units have been treated as Nonredeemable Common Units. The carrying value of the Redeemable Common Units equals the greater of carrying value based on the accumulation of historical cost or the redemption value. As of December 31, 2014 and 2013, there were no outstanding Common Units designated as Redeemable Common Units.

Net income or loss attributed to Nonredeemable Common Units and Redeemable Common Units (collectively, “Common Units”), as well as the net income or loss related to the noncontrolling interests of our consolidated joint venture and consolidated variable interest entity, is included in net income or loss in the consolidated statements of operations. Net income or loss attributed to the Common Units and the noncontrolling interests of our consolidated joint ventures and consolidated variable interest entity is excluded from net income or loss applicable to common shareholders in the consolidated statements of operations.

Shareholders’ Equity

On February 25, 2013, we completed a public offering of 3,000,000 6.875% Series C Cumulative Redeemable Preferred Shares. These shares have a par value of $0.01 per share with a $25.00 liquidation preference per share. Net proceeds of the offering, after deducting the underwriting discount and the offering expenses payable by us, were approximately $72,370.

We utilized the net proceeds of the offering to redeem all outstanding 8.00% Series A Cumulative Redeemable Preferred Shares on March 28, 2013, and for general corporate purposes. The Series A Preferred Shares were redeemed at a per share redemption price of $25.00 together with accrued and unpaid dividends to the redemption date for an aggregate per share redemption price of $25.4056. Dividends ceased accruing on the Series A Preferred Shares on March 28, 2013.

Terms of the Series B and Series C Preferred Shares outstanding at December 31, 2014 and 2013 are summarized as follows:

Dividend Per Share

Shares Outstanding

Year Ended December 31,

Series

31-Dec-14

31-Dec-13

Aggregate Liquidation Preference

Distribution Rate

2014

2013

Series B

4,600,000

115,000

8.000%

2.0000

Series C

3,000,000

75,000

6.875%

1.7188

1.4753

Total

7,600,000

In December 2012, our Board of Trustees authorized us to repurchase from time to time up to an aggregate of $75,000 of our outstanding common shares through December 31, 2013. We did not repurchase any common shares prior to the expiration of the share repurchase program. In January 2014, our Board of Trustees again authorized us to repurchase from time to time up to an aggregate of $75,000 of our outstanding common shares. In February 2015, our Board of Trustees again authorized us to repurchase from time to time up to an aggregate of $100,000 of our outstanding shares. The current share repurchase program will expire on December 31, 2015. For the year ended December 31, 2014, the Company repurchased 2,626,854 common shares for an aggregate purchase price of $15,418. As of February 20, 2015, we have not repurchased any common shares pursuant to the newly reauthorized share repurchase program. Upon repurchase by the Company, these common shares ceased to be outstanding and became authorized but unissued common shares.

NOTE 1 – ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

On May 8, 2012, we closed on a public offering in which we issued and sold 24,000,000 common shares through several underwriters for net proceeds to us of approximately $128,558. Immediately upon the closing the offering, we contributed all of the net proceeds of the offering to HHLP in exchange for additional Common Units. HHLP used the net proceeds of this offering to reduce some of the indebtedness outstanding under our revolving line of credit facility and for general corporate purposes, including the funding of future acquisitions.

On August 4, 2009, we entered into a purchase agreement with Real Estate Investment Group L.P. (“REIG”), pursuant to which we sold 5,700,000 common shares at a price of $2.50 per share to REIG for gross proceeds of $14,250. We also granted REIG the option to buy up to an additional 5,700,000 common shares at a price of $3.00 per share, which was exercisable through August 4, 2014. On February 13, 2012, pursuant to the terms of the original option, we called in and canceled the option granted to REIG in exchange for the issuance of 2,521,561 common shares with an aggregate value equal to $13,566. This amount equals the volume weighted average price per common share for the 20 trading days prior to the exercise of the option, less the $3.00 option price, multiplied by the 5,700,000 common shares remaining under the option.

On December 23, 2014, we amended our partnership agreement to allow for the issuance of profits interests in HHLP in the form of LTIP Units, a new class of limited partnership units in HHLP, and to establish the terms of the LTIP Units. The LTIP Units vest on December 31 and June 1 of each year, beginning on December 31, 2014 and ending on June 1, 2017. The LTIP units contain restricted stock awards that were forfeited and replaced with LTIP unit awards with similar terms. The total number of Restricted Stock Awards forfeited and LTIP Units awarded was 1,948,324.

Stock Based Compensation

We measure the cost of employee service received in exchange for an award of equity instruments based on the grant-date fair value of the award. The compensation cost is amortized on a straight line basis over the period during which an employee is required to provide service in exchange for the award. The compensation cost related to performance awards that are contingent upon market based criteria being met is recorded at the fair value of the award on the date of the grant and amortized over the performance period.

Derivatives and Hedging

The Company’s objective in using derivatives is to add stability to interest expense and to manage its exposure to interest rate movements. To accomplish this objective, the Company primarily uses interest rate swaps and interest rate caps as part of its cash flow hedging strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable-rate amounts in exchange for fixed-rate payments over the life of the agreements without exchange of the underlying principal amount. Interest rate caps designated as cash flow hedges limit the Company’s exposure to increased cash payments due to increases in variable interest rates.

Revenue Recognition

We recognize revenue and expense for all consolidated hotels as hotel operating revenue and hotel operating expense when earned and incurred. These revenues are recorded net of any sales or occupancy taxes collected from our guests. We participate in frequent guest programs sponsored by the brand owners of our hotels and we expense the charges associated with those programs, as incurred.

Interest income on development loan financing is recorded in the period earned based on the interest rate of the loan and outstanding balance during the period. Development loans receivable and accrued interest on the development loans receivable are evaluated to determine if outstanding balances are collectible. Interest is recorded only if it is determined the outstanding loan balance and accrued interest balance are collectible.

Other revenues consist primarily of fees earned for asset management services provided to hotels we own through unconsolidated joint ventures. Fees are earned as a percentage of hotel revenue and are recorded in the period earned to the extent of the noncontrolling interest ownership.

NOTE 1 – ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Income Taxes

The Company qualifies as a REIT under applicable provisions of the Internal Revenue Code, as amended, and intends to continue to qualify as a REIT. In general, under such provisions, a trust which has made the required election and, in the taxable year, meets certain requirements and distributes to its shareholders at least 90% of its REIT taxable income will not be subject to Federal income tax to the extent of the income which it distributes. Earnings and profits, which determine the taxability of dividends to shareholders, differ from net income reported for financial reporting purposes due primarily to differences in depreciation of hotel properties for Federal income tax purposes.

Deferred income taxes relate primarily to the TRS Lessee and are accounted for using the asset and liability method. Under this method, deferred income taxes are recognized for temporary differences between the financial reporting bases of assets and liabilities of the TRS Lessee and their respective tax bases and for their operating loss and tax credit carry forwards based on enacted tax rates expected to be in effect when such amounts are realized or settled. However, deferred tax assets are recognized only to the extent that it is more likely than not that they will be realized based on consideration of available evidence, including tax planning strategies and other factors.

The Company may recognize a tax benefit from an uncertain tax position when it is more-likely-than-not (defined as a likelihood of more than 50%) that the position will be sustained upon examination, including resolutions of any related appeals or litigation processes, based on the technical merits. If a tax position does not meet the more-likely-than-not recognition threshold, despite the Company’s belief that its filing position is supportable, the benefit of that tax position is not recognized in the statements of operations. The Company recognizes interest and penalties, as applicable, related to unrecognized tax benefits as a component of income tax expense. The Company recognizes unrecognized tax benefits in the period that the uncertainty is eliminated by either affirmative agreement of the uncertain tax position by the applicable taxing authority, or by expiration of the applicable statute of limitation. For the years ended December 31, 2014, 2013 and 2012, the Company did not record any uncertain tax positions. As of December 31, 2014, with few exceptions, the Company is subject to tax examinations by U.S. federal, state, and local income tax authorities for years 2003 through 2014.

Reclassification

Certain amounts in the prior year financial statements have been reclassified to conform to the current year presentation.

New Accounting Pronouncements

On May 28, 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers, which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. The new standard is effective for the Company on January 1, 2017. Early adoption is not permitted. The standard permits the use of either the retrospective or cumulative effect transition method. The Company is evaluating the effect that ASU No. 2014-09 will have on its consolidated financial statements and related disclosures. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting.

Investment_In_Hotel_Properties

Investment In Hotel Properties	12 Months Ended
Investment In Hotel Properties	Dec. 31, 2014
Investment In Hotel Properties [Abstract]
Investment In Hotel Properties	NOTE 2 – INVESTMENT IN HOTEL PROPERTIES

	Investment in hotel properties consists of the following at December 31, 2014 and December 31, 2013:





				31-Dec-14			31-Dec-13

	Land		$	439,540		$	339,027
	Buildings and Improvements			1,424,842			1,222,639
	Furniture, Fixtures and Equipment			203,275			171,116
	Construction in Progress			-			63,168
				2,067,657			1,795,950

	Less Accumulated Depreciation			-322,174			-260,115

	Total Investment in Hotel Properties		$	1,745,483		$	1,535,835

	Depreciation expense was $68,418, $61,500 and $55,956 (including depreciation on assets held for sale) for the years ended December 31, 2014, 2013, and 2012, respectively.

	During the year ended December 31, 2014, we acquired the following wholly-owned hotel properties:



	Hotel		Acquisition Date			Land			Buildings and Improvements			Furniture Fixtures and Equipment			Ground Lease Intangible			Franchise Fees and Loan Costs		Total Purchase Price		Assumption of Debt
	Hotel Milo,		2/28/14		$	-		$	55,080		$	805		$	-14,230		$	273	$	41,928	$	24,924
	Santa Barbara, CA		2/28/14		$	-		$	55,080		$	805		$	-14,230		$	273	$	41,928	$	24,924
	Parrot Key Resort,		5/7/14			57,889			33,959			8,152			-			-		100,000		-
	Key West, FL		5/7/14			57,889			33,959			8,152			-			-		100,000		-
	Hilton Garden Inn 52nd Street,		5/27/14			45,480			60,762			4,920			-			1,123		112,285		-
	New York, NY		5/27/14			45,480			60,762			4,920			-			1,123		112,285		-
	TOTAL				$	103,369		$	149,801		$	13,877		$	-14,230		$	1,396	$	254,213	$	24,924

	Acquisition-related cost, such as due diligence, legal and accounting fees, are not capitalized or applied in determining the fair value of the above acquired assets. During the year ended December 31, 2014, we paid $2,178 in acquisition costs related to the above acquired assets.

	The purchase agreement for the acquisition of the Parrot Key Resort in Key West, FL, contains a provision that entitles the seller to additional consideration of $2,000 contingent upon the hotel achieving certain net operating income thresholds within twelve months of acquisition. At the time of acquisition, no liability was recorded as the fair market value of the contingent consideration was determined to be $0. Upon remeasurement at December 31, 2014, a liability was recorded as the fair market value of the contingent consideration was determined to be $2,000.

	On May 27, 2014, we completed the acquisition of the Hilton Garden Inn 52nd Street hotel in New York, NY from an unaffiliated seller. Previously, we had entered into a purchase and sale agreement to acquire this property for total consideration of $84,000. The purchase price for this property was contractually fixed on August 23, 2012, the date we entered into the purchase and sale agreement. During the 21-month period of time between entering in the purchase and sale agreement on August 23, 2012 and the closing date, the real estate market for hotels located in Manhattan experienced significant price appreciation due to improved economic conditions in the market and in the overall economy. This resulted in an increase in the fair value of the property at the time of closing the acquisition and, as such, we recognized a gain of approximately $13,594, which is net of preopening expenses of $927 on the statement of operations, as the fair value of the asset acquired less any liabilities assumed exceeded the consideration transferred.


	NOTE 2 – INVESTMENT IN HOTEL PROPERTIES (CONTINUED)

	Consideration given in exchange for the property included $27,500 paid in cash to the seller and our reinstatement and cancellation of a development loan receivable in the original principal amount of $10,000 and $12,494 of accrued interest and late fees. This development loan receivable had previously been fully impaired in 2009, but was recovered as part of this acquisition. As a result, we recognized a gain of $22,494 on the recovery of the previously impaired development loan. In addition, we paid off the existing construction financing and entered into a new mortgage loan of $45,000. Concurrent with our entry into the new mortgage loan, we entered into an interest rate cap and swap – see “Note 7 – Fair Measurements and Derivative Instruments” for more information on this derivative. No other consideration was exchanged in connection with the acquisition of this property. Below is a tabular reference to illustrate the components of the consideration and fair value of the property:



	Hotel		Initial Purchase Price			Interest and Late Fees on Development Loan			Non-Cash Fair Market Value Gain on Acquisition			Other			Fair Market Value At Acquisition			Franchise Fees and Loan Costs		Asset Value Upon Acquisition
	Hilton Garden Inn 52nd Street,	$	84,000		$	12,494		$	13,594		$	1,074		$	111,162		$	1,123	$	112,285
	New York, NY	$	84,000		$	12,494		$	13,594		$	1,074		$	111,162		$	1,123	$	112,285

	Included in the consolidated statement of operations for the year ended December 31, 2014 are total revenues of $28,239 and a total net income of $6,219 for hotels we have acquired and consolidated since the date of acquisition. These amounts represent the results of operations for these hotels since the date of acquisition:




			Year Ended December 31,
			2014
	Hotel			Revenue			Net
	Hotel			Revenue			Income
	Hotel Milo, Santa Barbara, CA		$	8,655		$	668
	Parrot Key Resort, Key West, FL			9,145			2,978
	Hilton Garden Inn 52nd Street, New York, NY			10,439			2,573

Total		$	28,239		$	6,219

During the year ended December 31, 2013, we acquired the following wholly-owned hotel properties:


Hotel		Acquisition Date			Land			Buildings and Improvements			Furniture Fixtures and Equipment			Franchise Fees and Loan Costs			Total Purchase Price
Hyatt Union Square,		4/9/13		$	32,940		$	79,300		$	9,760		$	1,945		$	123,945
New York, NY*		4/9/13		$	32,940		$	79,300		$	9,760		$	1,945		$	123,945
Courtyard by Marriott,		5/30/13			15,656			51,674			3,671			183			71,184
San Diego, CA		5/30/13			15,656			51,674			3,671			183			71,184
Residence Inn,		6/12/13			4,146			17,456			218			75			21,895
Coconut Grove, FL		6/12/13			4,146			17,456			218			75			21,895
Blue Moon,		12/20/13			4,874			20,354			1,125			-			26,353
Miami Beach, FL		12/20/13			4,874			20,354			1,125			-			26,353
Winter Haven,		12/20/13			5,400			18,147			1,050			-			24,597
Miami Beach, FL		12/20/13			5,400			18,147			1,050			-			24,597

Total				$	63,016		$	186,931		$	15,824		$	2,203		$	267,974


NOTE 2 – INVESTMENT IN HOTEL PROPERTIES (CONTINUED)

*On April 9, 2013, we completed the acquisition of the Hyatt Union Square hotel in New York, NY from Risingsam Union Square LLC. Consideration given in exchange for the property included $36,000 paid in cash to the seller and our cancellation of a development loan receivable in the original principal amount of $10,000 and $3,303 of accrued interest on the loan. In addition, we paid off the existing construction financing and entered into a new mortgage loan of $55,000. We recognized a net gain of approximately $12,108 on the purchase of the Hyatt Union Square hotel as the fair value of the assets acquired less any liabilities assumed exceeded the consideration transferred.

During the year ended December 31, 2013, we paid $855 in acquisition costs related to the above acquired assets.

As shown in the table below, included in the consolidated statements of operations for the year ended December 31, 2013 are total revenues of $22,889 and a total net income of $1,412 for hotels we have acquired and consolidated since the date of acquisition. These amounts represent the results of operations for these hotels since the date of acquisition:



			Year Ended December 31,
			2013
Hotel				Revenue			Net
Hotel				Revenue			(Loss) Income
Hyatt Union Square, New York, NY			$	11,272		$	-1,466
Courtyard by Marriott, San Diego, CA				8,350			1,914
Residence Inn, Coconut Grove, FL				2,889			713
Blue Moon, Miami Beach, FL				175			111
Winter Haven, Miami Beach, FL				203			140

Total			$	22,889		$	1,412


Pro Forma Results (Unaudited)

The following condensed pro forma financial data are presented as if all acquisitions completed since January 1, 2014 and 2013 had been completed on January 1, 2013 and 2012. Properties acquired without any operating history are excluded from the condensed pro forma operating results. The condensed pro forma financial data is not necessarily indicative of what actual results of operations of the Company would have been assuming the acquisitions had been consummated on January 1, 2014 and 2013 at the beginning of the year presented, nor do they purport to represent the results of operations for future periods.





		Year Ended December 31,
		2014			2013
Pro Forma Total Revenues		$	425,029		$	376,767

Pro Forma Income from Continuing Operations		$	72,864		$	27,859
(Loss) from Discontinued Operations			-1,665			29,195
Pro Forma Net Income			71,199			57,054
Income (Loss) Allocated to Noncontrolling Interest			-1,016			-335
Preferred Distributions			-14,356			-14,611
Extinguishment of Issuance Costs Upon Redemption of Series A Preferred Shares			-			-2,250
Pro Forma Net Income (Loss) Applicable to Common Shareholders		$	55,827		$	39,858

Pro Forma Income Applicable to Common Shareholders per Common Share
Basic		$	0.28		$	0.20
Diluted		$	0.28		$	0.20

Weighted Average Common Shares Outstanding
Basic			199,109,209			198,390,450
Diluted			201,197,310			201,918,177
NOTE 2 – INVESTMENT IN HOTEL PROPERTIES (CONTINUED)
Asset Development and Renovation

The Company has opportunistically engaged in the development of hotel assets. On July 22, 2011, the Company completed the acquisition of the real property and improvements located at 32 Pearl Street, New York, NY, from an unaffiliated seller for a total purchase price of $28,300. On June 23, 2014, this property opened as a Hampton Inn. The total construction costs spent on this property since acquisition were $9,564, which equates to a total carrying value of approximately
$37,864 when the property opened.

In January 2014, the Company completed the construction of an additional oceanfront tower, additional meeting space and structured parking on a land parcel adjacent to the Courtyard by Marriott, Miami, FL, a hotel acquired on November 16,
2011. This land parcel was included in the acquisition of the hotel.

We capitalize expenditures related to hotel development projects and renovations, including indirect costs such as interest expense, real estate taxes and utilities related to hotel development projects and renovations.

We have capitalized the following indirect development costs for the years ended December 31, 2014, 2013 and 2012:





			Year Ended December 31,
			2014			2013			2012

Property Tax			$	223		$	388		$	296
Interest Expense				458			1,320			1,542
Utilities				73			3			9
Total			$	754		$	1,711		$	1,847

During the second quarter of 2014, we finalized our settlement of the insurance claim we had for losses incurred as a result of Hurricane Sandy. In October 2012, Hurricane Sandy affected numerous hotels within our portfolio. Two hotels within our portfolio were significantly impacted by this natural disaster; one hotel was inoperable (Holiday Inn Express Water Street,
New York, NY) and one hotel development project, which was subsequently completed on June 23, 2014, incurred delays in construction (Hampton Inn, Pearl Street, New York, NY). Prior to March 31, 2014, we had recorded estimated property losses of $1,586 on the Holiday Inn Express Water Street and a corresponding insurance claim receivable of $1,486. This hotel reopened in April 2013. We also had recorded estimated property losses of $1,997 on the Hampton Inn Pearl Street and a corresponding insurance claim receivable of $1,897. This hotel opened in June 2014. As a result of the claim settlement, we recorded a gain on insurance settlements of approximately $4,604, which included business interruption claims.

Investment_In_Unconsolidated_J

Investment In Unconsolidated Joint Ventures	12 Months Ended
Investment In Unconsolidated Joint Ventures	Dec. 31, 2014
Investment In Unconsolidated Joint Ventures [Abstract]
Investment In Unconsolidated Joint Ventures	NOTE 3 – INVESTMENT IN UNCONSOLIDATED JOINT VENTURES

	As of December 31, 2014 and December 31, 2013 our investment in unconsolidated joint ventures consisted of the following:





					Percent		Preferred			December 31,		December 31,
	Joint Venture		Hotel Properties		Owned		Return			2014		2013

	SB Partners, LLC		Holiday Inn Express, South Boston, MA		50.0%		N/A		$	913	$	1,057
	Hiren Boston, LLC		Courtyard by Marriott, South Boston, MA		50.0%		N/A			4,680		4,777
	Mystic Partners, LLC		Hilton and Marriott branded hotels in CT		8.8%-66.7%		8.5% non-cumulative			5,556		6,210
									$	11,150	$	12,044

	In 2013, we recorded an impairment loss of $1,813 related to the Courtyard, Norwich, CT, one of the properties owned by Mystic Partners, LLC. Mystic Partners, LLC transferred the title to the property to the lender during the year ended December 31, 2014. As we did not anticipate recovering our investment balance in this asset, we reduced the portion of our Mystic Partners, LLC investment related to this property to $0 as of December 31, 2013.

	On February 1, 2013, the Company closed on the sale of its interest in one of the unconsolidated joint venture properties owned in part by Mystic Partners, LLC to its joint venture partner. As our investment in this unconsolidated joint venture equated the net proceeds distributed to us, we did not record a gain or loss in connection with the sale of this hotel.

	As noted in “Note 2 – Investment in Hotel Properties,” on August 13, 2012, the Company purchased the remaining 50% ownership interest in Inn America Hospitality at Ewing, the lessee of the Courtyard by Marriot, Ewing, NJ. As such, we ceased to account for our investment in Inn America Hospitality at Ewing under the equity method of accounting as of August 13, 2012 because it became a consolidated subsidiary. Our interest in Inn America Hospitality at Ewing, which consisted of our investment in Inn America Hospitality at Ewing and a receivable, was remeasured and as a result based on the appraised value of the hotel, we recorded a loss of approximately $1,668 during the twelve months ended December 31, 2012.

	As noted in “Note 2 – Investment in Hotel Properties,” on June 18, 2012, the Company purchased the remaining 50% ownership interest in Metro 29th, the lessee of the Holiday Inn Express, Manhattan, New York, NY. As such, we ceased to account for our investment in Metro 29th under the equity method of accounting as of June 18, 2012 because it became a consolidated subsidiary. Our interest in Metro 29th was remeasured, and as a result, we recorded a loss of approximately $224.

	Fair value for our previously held investments in Inn America Hospitality at Ewing and Metro 29th was determined through the use of an income approach and was measured using Level 3 inputs. The income approach estimates an income stream for a hotel property (typically 5 years) and discounts this income plus a reversion (presumed sale) into a present value at a risk adjusted rate. RevPAR growth assumptions utilized in this approach are derived from market transactions as well as other financial and industry data. The terminal cap rate and discount rate are significant inputs to this valuation. The fair value measurements determined during the year included RevPAR growth assumptions ranging between 3% and 8%, terminal cap rates ranging between 8.5% and 9.5%, and a discount rate of 10.5%. Changes in these inputs could result in a significant change in the valuation of our original joint venture investments and a change in the loss from remeasurement of investment in unconsolidated joint venture recognized during the period.

	On February 23, 2012, the Company closed on the sale of 14 non-core hotel properties, including three of the unconsolidated joint venture hotel properties. On May 8, 2012, the Company closed on the remaining four non-core hotel properties, including one of the unconsolidated joint venture hotel properties. As our investment in these unconsolidated joint ventures equated the net proceeds distributed to us, we did not record a gain or loss in connection with the sale of these hotel properties. See “Note 11 – Hotel Dispositions” for more information.

	NOTE 3 – INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (CONTINUED)

	Income or loss from our unconsolidated joint ventures is allocated to us and our joint venture partners consistent with the allocation of cash distributions in accordance with the joint venture agreements. Any difference between the carrying amount of these investments and the underlying equity in net assets is amortized over the expected useful lives of the properties and other intangible assets.

	Income (loss) recognized during the years ended December 31, 2014, 2013, and 2012, for our investments in unconsolidated joint ventures is as follows:





			Year Ended December 31,
				2014			2013			2012
	SB Partners, LLC		$	407		$	264		$	85
	Hiren Boston, LLC			603			113			230
	Mystic Partners, LLC			-317			-399			-433
	Metro 29th Street Associates, LLC			-			-			-114
	Income (Loss) from Unconsolidated Joint Venture Investments			693			-22			-232
	Impairment from Unconsolidated Joint Ventures			-			-1,813			-
	Loss from Remeasurement of Investment in Unconsolidated Joint Ventures			-			-			-1,892
	Income (Loss) from Unconsolidated Joint Venture Investments		$	693		$	-1,835		$	-2,124

	The Mystic Partners, LLC joint venture agreement provides for an 8.5% non-cumulative preferred return based on our contributed equity interest in the venture. Cash distributions will be made from cash available for distribution, first, to us to provide an 8.5% annual non-compounded return on our unreturned capital contributions and then to our joint venture partner to provide an 8.5% annual non-compounded return of their unreturned contributions. Any remaining cash available for distribution will be distributed to us 10.5% with respect to the net cash flow from the Hartford Marriott, 7.0% with respect to the Hartford Hilton and 56.7%, with respect to the remaining property. Mystic Partners, LLC allocates income to us and our joint venture partner consistent with the allocation of cash distributions in accordance with the joint venture agreements.

	Each of the Mystic Partners, LLC hotel properties, except the Hartford Hilton, is under an Asset Management Agreement with 44 New England to provide asset management services. Fees for these services are paid monthly to 44 New England and recognized as income in the amount of 1% of operating revenues, except for the Hartford Marriott which is 0.25% of operating revenues.

	The Company and our joint venture partner in Mystic Partners, LLC jointly and severally guarantee the performance of the terms of a loan to Adriaen’s Landing Hotel, LLC, owner of the Hartford Marriott, in the amount of $50,000, and 315 Trumbull Street Associates, LLC, owner of the Hartford Hilton, in the amount of $27,000, if at any time during the term of the note and during such time as the net worth of Mystic Partners falls below the amount of the guarantee. We have determined that the probability of incurring loss under this guarantee is remote and the value attributed to the guarantee is de minimis.

	NOTE 3 – INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (CONTINUED)

	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 December 31, 2014 and December 31, 2013 and for the years ended December 31, 2014, 2013, and 2012.


	Balance Sheets
				December 31,			December 31,
				2014			2013
	Assets
Investment in Hotel Properties, Net		$	106,430		$	114,221
Other Assets			19,032			19,146
Total Assets		$	125,462		$	133,367

Liabilities and Equity
Mortgages and Notes Payable		$	115,446		$	112,654
Other Liabilities			30,832			37,464
Equity:
Hersha Hospitality Trust			23,060			26,230
Joint Venture Partner(s)			-43,876			-42,981
Total Equity			-20,816			-16,751

Total Liabilities and Equity		$	125,462		$	133,367




Statements of Operations

		Year Ended December 31,
			2014			2013			2012
Room Revenue		$	59,135		$	58,273		$	62,058
Other Revenue			21,725			22,606			22,306
Operating Expenses			-54,831			-55,179			-57,131
Lease Expense			-1,063			-996			-3,729
Property Taxes and Insurance			-2,934			-3,034			-3,438
General and Administrative			-5,783			-5,794			-5,904
Depreciation and Amortization			-6,376			-6,697			-6,533
Interest Expense			-11,995			-7,526			-7,650
Debt Extinguishment and Gain on Debt Forgiveness			3,016			-			-
Gain (Loss) allocated to Noncontrolling Interests			115			-179			-2,614

Net Income from Continuing Operations			1,009			1,474			-2,635
(Loss) Income from Discontinued Operations			-			-55			121
Gain on Disposition of Hotel Properties			-			1,161			25,131

Net Income		$	1,009		$	2,580		$	22,617

NOTE 3 – INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (CONTINUED)

The following table is a reconciliation of the Company’s share in the unconsolidated joint ventures’ equity to the Company’s investment in the unconsolidated joint ventures as presented on the Company’s balance sheets as of December 31, 2014 and December 31, 2013.





			December 31,			December 31,
			2014			2013
Company's share of equity recorded on the joint ventures' financial statements		$	23,060		$	26,230
Adjustment to reconcile the Company's share of equity recorded on the joint ventures' financial statements to our investment in unconsolidated joint ventures(1)			-11,910			-14,186
Investment in Unconsolidated Joint Ventures		$	11,150		$	12,044

(1) Adjustment to reconcile the Company's share of equity recorded on the joint ventures' financial statements to our investment in unconsolidated joint ventures consists of the following:

	·		cumulative impairment of the Company’s investment in joint ventures not reflected on the joint ventures' financial statements;
	·		the Company’s basis in the investment in joint ventures not recorded on the joint ventures' financial statements; and
	·		accumulated amortization of the Company’s equity in joint ventures that reflects the Company’s portion of the excess of the fair value of joint ventures' assets on the date of our investment over the carrying value of the assets recorded on the joint ventures financial statements (this excess investment is amortized over the life of the properties, and the amortization is included in Income (Loss) from Unconsolidated Joint Venture Investments on the Company’s consolidated statement of operations).

Other_Assets_And_Deposits_On_H

Other Assets And Deposits On Hotel Acquisitions	12 Months Ended
Other Assets And Deposits On Hotel Acquisitions	Dec. 31, 2014
Other Assets And Deposits On Hotel Acquisitions [Abstract]
Other Assets And Deposits On Hotel Acquisitions	NOTE 4 – OTHER ASSETS AND DEPOSITS ON HOTEL ACQUISITIONS

	Other Assets

	Other Assets consisted of the following at December 31, 2014 and December 31, 2013:




		31-Dec-14		31-Dec-13

	Transaction Costs	$	-	$	115
	Investment in Statutory Trusts		1,548		1,548
	Prepaid Expenses		7,883		9,256
	Insurance Claims Receivable		64		1,706
	Deferred Tax Asset, Net of Valuation Allowance of $804		11,448		8,766
	Other		7,483		6,069
		$	28,426	$	27,460

	Transaction Costs - Transaction costs include legal fees and other third party transaction costs incurred relative to entering into debt facilities, issuances of equity securities, and other costs which are recorded in other assets prior to the closing of the respective transactions.

	Investment in Statutory Trusts - We have an investment in the common stock of Hersha Statutory Trust I and Hersha Statutory Trust II. Our investment is accounted for under the equity method.

	Prepaid Expenses - Prepaid expenses include amounts paid for property tax, insurance and other expenditures that will be expensed in the next twelve months.

	Insurance Claims Receivable – As noted in “Note 2 – Investment in Hotel Properties,” we recorded an insurance claim receivable due to the property damage that occurred at several of our hotel properties as a result of Hurricane Sandy in October 2012. This claim was settled in June 2014, and we received our final claim payment in July 2014 in the amount of $2,498. The remaining balance in insurance claims receivable as of December 31, 2014 is comprised of claims that arose from property damage at hotel properties as a result of other events.

	Deferred Tax Asset - We have approximately $11,448 of net deferred tax assets as of December 31, 2014. We have considered various factors, including future reversals of existing taxable temporary differences, future projected taxable income and tax planning strategies in determining a valuation allowance for our deferred tax assets, and we believe that it is more likely than not that we will be able to realize the $11,448 of net deferred tax assets in the future.

	Deposits on Hotel Acquisitions

	As of December 31, 2014, we had no deposits on hotel acquisitions. As of December 31, 2013, deposits on hotel acquisitions consisted of $15,486 in interest bearing deposits related to the acquisition of the Hilton Garden Inn 52nd Street, New York, NY and $3,100 in non-interest bearing deposits related to the acquisition of the Hotel Milo, located in Santa Barbara, California. The acquisition of the Hotel Milo closed in the first quarter and the Hilton Garden Inn 52nd Street closed in the second quarter of 2014. See “Note 2 – Investment In Hotel Properties” for more information.

Debt

Debt	12 Months Ended
	Dec. 31, 2014
Debt [Abstract]
Debt	NOTE 5 – DEBT

	Mortgages

	We had total mortgages payable at December 31, 2014 and December 31, 2013 of $617,375 and $617,788 (including $45,835 in outstanding mortgage indebtedness related to assets held for sale at December 31, 2013), respectively. These balances consisted of mortgages with fixed and variable interest rates, which ranged from 2.47% to 6.50% as of December 31, 2014. Included in these balances are net premiums of $1,584 and $2,466 as of December 31, 2014 and December 31, 2013, respectively, which are amortized over the remaining life of the loans. Aggregate interest expense incurred under the mortgage loans payable totaled $31,046, $34,854, and $38,343 during the years ended December 31, 2014, 2013, and 2012, respectively.

	Our mortgage indebtedness contains various financial and non-financial covenants customarily found in secured, non-recourse financing arrangements. Our mortgage loans payable typically require that specified debt service coverage ratios be maintained with respect to the financed properties before we can exercise certain rights under the loan agreements relating to such properties. If the specified criteria are not satisfied, the lender may be able to escrow cash flow generated by the property securing the applicable mortgage loan. We have determined that certain debt service coverage ratio covenants contained in the loan agreements securing four of our hotel properties were not met as of December 31, 2014. Pursuant to these loan agreements, the lender has elected to escrow the operating cash flow for a number of these properties. However, these covenants do not constitute an event of default for these loans.

	As of December 31, 2014, the maturity dates for the outstanding mortgage loans ranged from January 2015 to April 2023.

	Subordinated Notes Payable

	We have two junior subordinated notes payable in the aggregate amount of $51,548 to the Hersha Statutory Trusts pursuant to indenture agreements which will mature on July 30, 2035, but may be redeemed at our option, in whole or in part, prior to maturity in accordance with the provisions of the indenture agreements. The $25,774 notes issued to Hersha Statutory Trust I and Hersha Statutory Trust II, bear interest at a variable rate of LIBOR plus 3% per annum. This rate resets two business days prior to each quarterly payment. The weighted average interest rate on our two junior subordinated notes payable during the years ended December 31, 2014, 2013, and 2012 was 3.28%, 3.32%, and 3.51%, respectively. Interest expense in the amount of $1,690, $1,712, and $1,810 was recorded for the years ended December 31, 2014, 2013, and 2012, respectively.

	Credit Facilities

	On February 28, 2014, we entered into a senior unsecured credit agreement with Citigroup Global Markets Inc. and various other lenders. The credit agreement provides for a $500,000 senior unsecured credit facility consisting of a $250,000 senior unsecured revolving line of credit and a $250,000 senior unsecured term loan. This new facility amended and restated the existing $400,000 senior unsecured credit facility. The $500,000 unsecured credit facility expires on February 28, 2018 and, provided no event of default has occurred, we may request that the lenders renew the credit facility for an additional one-year period. The credit facility is also expandable to $850,000 at our request, subject to the satisfaction of certain conditions.

	Prior to February 28, 2014, we maintained a senior unsecured credit agreement with Citigroup Global Markets Inc. and various other lenders. The credit agreement provided for a $400,000 senior unsecured credit facility consisting of a $250,000 senior unsecured revolving line of credit and a $150,000 senior unsecured term loan.


	NOTE 5 – DEBT (CONTINUED)

	The amount that we can borrow at any given time on our credit facility is governed by certain operating metrics of designated unencumbered hotel properties known as borrowing base assets. As of December 31, 2014, the following hotel properties were borrowing base assets:




	- Holiday Inn Express, Cambridge, MA	- Hampton Inn, Philadelphia, PA
	- Holiday Inn, Wall Street, NY	- Hampton Inn, Washington, DC
	- Holiday Inn Express, Times Square, NY	- Hyatt Place, King of Prussia, PA
	- Residence Inn, Norwood, MA	- Nu Hotel, Brooklyn, NY
	- Residence Inn, Framingham, MA	- The Rittenhouse Hotel, Philadelphia, PA
	- Sheraton, Wilmington South, DE	- The Boxer, Boston, MA
	- Sheraton Hotel, JFK Airport, New York, NY	- Holiday Inn Express (Water Street), New York, NY
	- Candlewood Suites, Times Square, NY	- Courtyard, San Diego, CA
	- Hampton Inn, Times Square, NY	- Residence Inn, Coconut Grove, FL
	- Winter Haven, Miami, FL	- Blue Moon, Miami, FL
	- Hampton Inn, Pearl Street, NY	- Parrot Key Resort, Key West, FL
	- Residence Inn, Greenbelt, MD


	The interest rate for the $500,000 unsecured credit facility is based on a pricing grid with a range of one month U.S. LIBOR plus 1.70% to 2.45% for the revolving line of credit and 1.60% to 2.35% for the unsecured term loan.

	As of December 31, 2014, we had borrowed $250,000 in unsecured term loans under the unsecured credit facility, $150,000 for which we had entered into interest rate swaps which effectively fix the interest rate on these term loans at a blended rate of 3.217%. See “Note 7 – Fair Value Measurements and Derivative Instruments” for more information.

	The credit agreement providing for the $500,000 unsecured credit facility includes certain financial covenants and requires that we maintain: (1) a minimum tangible net worth of $803,711, which is calculated by adding back accumulated depreciation to the recorded value of our investment in hotel properties and subtracting certain intangible assets and debt and is subject to increases under certain circumstances; (2) annual distributions not to exceed 95% of adjusted funds from operations; and (3) certain financial ratios, including the following:

	·a fixed charge coverage ratio of not less than 1.45 to 1.00, which increases to 1.50 to 1.00 as of January 1, 2016;
	·a maximum leverage ratio of not more than 60%; and
	·a maximum secured debt leverage ratio of 50%, which decreases to 45% as of January 1, 2016

	The Company is in compliance with each of the covenants listed above as of December 31, 2014. As of December 31, 2014, our remaining borrowing capacity under the $500,000 unsecured credit facility was $245,745, based on the borrowing base assets at December 31, 2014.

	As of December 31, 2014, the outstanding unsecured term loan balance under the $500,000 unsecured credit facility was $250,000 and we had outstanding borrowings of $0 on the revolving line of credit. As of December 31, 2013, the outstanding unsecured term loan under the prior $400,000 unsecured credit facility was $150,000 and the revolving line of credit had no balance outstanding.

	The Company recorded interest expense of $6,218, $5,413, and $2,405 related to borrowings drawn on each of the aforementioned credit facilities, for the years ended December 31, 2014, 2013, and 2012, respectively. The weighted average interest rate on our credit facilities was 2.82%, 3.08%, and 4.57% for the years ended December 31, 2014, 2013, and 2012, respectively.

	NOTE 5 – DEBT (CONTINUED)

	Aggregate annual principal payments for the Company’s credit facility and mortgages and subordinated notes payable for the five years following December 31, 2015 and thereafter are as follows:



Year Ending December 31,		Amount

2015		$	69,063
2016			273,824
2017			204,219
2018			1,564
2019			294,892
Thereafter			73,777
Net Unamortized Premium			1,584
		$	918,923
Capitalized Interest

We utilize mortgage debt and our $500,000 revolving credit facility to finance on-going capital improvement projects at our hotels. Interest incurred on mortgages and the revolving credit facility that relates to our capital improvement projects is capitalized through the date when the assets are placed in service. For the years ended December 31, 2014, 2013, and 2012, we capitalized $458, $1,320, and $1,542 respectively, of interest expense related to these projects.

Deferred Financing Costs

Costs associated with entering into mortgages and notes payable and our revolving line of credit are deferred and amortized over the life of the debt instruments. Amortization of deferred financing costs is recorded in interest expense. As of December 31, 2014, deferred costs were $8,605, net of accumulated amortization of $6,938. Amortization of deferred costs for the years ended December 31, 2014, 2013, and 2012 was $2,768, $2,886, and $2,991 respectively.

Debt Payoff

On October 27, 2014, we repaid $10,179 on our mortgage with Berkadia Commercial Mortgage, LLC for the Residence Inn, Greenbelt, MD property. The loan was due to mature in October 2014, and we incurred no loss on debt extinguishment in paying off the loan.

On June 30, 2013, we repaid $7,928 on our mortgage with Berkadia Commercial Mortgage, LLC for the Residence Inn, Tysons Corner, VA property. The loan was due to mature in July 2013, and we incurred no loss on debt extinguishment in paying off the loan.

On January 3, 2013, we funded an additional $50,000 in unsecured term loan borrowings under our then $400,000 unsecured credit facility which was used to pay off the balance of the mortgage loan secured by the Holiday Inn Express, Times Square, New York, NY on January 7, 2013. This mortgage was also subject to an interest rate swap, which was terminated as a cash flow hedge as of December 31, 2012 due to this payoff. As a result of this payoff, we expensed $261 in unamortized deferred financing costs and fees, which are included in the Loss on Debt Extinguishment caption of the consolidated statements of operations for the year ended December 31, 2013. Due to the timing of this transaction, the hedge relationship on our interest rate swap was derecognized as of December 31, 2012. Therefore, the accumulated other comprehensive loss on this swap as of December 31, 2012, was reclassified to income and we recorded $530 in the Loss on Debt Extinguishment on the statement of operations for the year ended December 31, 2012.

As previously mentioned, we replaced our previous $250,000 secured credit facility with a new $400,000 unsecured credit facility with Citigroup Global Markets Inc. and various other lenders on November 5, 2012. Concurrently with this closing, we funded $100,000 in unsecured term loan borrowings. These borrowings were used to pay off in full the balance on seven mortgage loans on hotel properties. As a result of terminating our previous $250,000 secured credit facility and extinguishing the debt on these seven properties, we expensed $2,410 in unamortized deferred financing costs and fees, which are included in the Loss of Debt Extinguishment caption on the consolidated statements of operations for the year ended December 31, 2012.

NOTE 5 – DEBT (CONTINUED)

New Debt/Refinance

On November 13, 2014, we repaid outstanding mortgage debt on with an original principal balance of $32,000 secured by the Hilton Garden Inn, Tribeca, NY and simultaneously entered into a new mortgage obligation of $46,500 with a new lender. The new mortgage debt bears interest at a variable rate of one month U.S. dollar LIBOR plus 2.30% and matures on November 1, 2019.

As previously mentioned, we refinanced our previous $400,000 unsecured credit facility with a $500,000 unsecured credit facility with Citigroup Global Markets Inc. and various other lenders on February 28, 2014. As a result of this refinance, we expensed $579 in unamortized deferred financing costs and fees, which are included in the Loss on Debt Extinguishment caption of the consolidated statements of operations for the year ended December 31, 2014.

On January, 31, 2014, we paid down $5,175 of the outstanding debt and modified the mortgage loan on the Duane Street Hotel, New York, NY. As a result, we entered into a $9,500 loan with a maturity date of February 1, 2017. The modified loan bears interest at a variable rate of one month U.S. dollar LIBOR plus 4.50%. The modification also includes an interest rate swap, which effectively fixes the interest rate at 5.433%. As a result of this modification, we expensed $91 in unamortized deferred financial costs and fees during the year ended December 31, 2014.

On April 24, 2013, we modified the $30,000 mortgage loan on the Courtyard by Marriott, Westside, Los Angeles, CA. The modified loan bears interest at a variable rate of one month U.S. dollar LIBOR plus 3.00%, and matures on September 29, 2017. The modification also contains an option for the Company to advance $5,000 in principal subject to certain conditions, including there being no event of default and compliance with debt service coverage ratio requirements. As a result of this modification, we incurred a loss on debt extinguishment of $284. This modification did not change the terms of the interest rate swap that we entered into in 2011, which had effectively fixed the interest at 4.947%, and now effectively fixes the interest at 4.10% through September 29, 2015. After the maturity date of the swap, the loan will bear interest at the stated variable rate of one-month U.S. dollar LIBOR plus 3.00%, with a LIBOR floor of 0.75%. See “Note 7 – Fair Value Measurements and Derivative Instruments” for more information.

On May 23, 2012, we repaid outstanding mortgage debt with an original principal balance of $22,000 secured by the Hotel 373, Fifth Avenue, NY, and on May 24, 2012 entered into a new mortgage obligation of $19,000, incurring a loss on debt extinguishment of approximately $66. The new mortgage debt bears interest at a variable rate of one month U.S. dollar LIBOR plus 3.85% and matures on June 1, 2017. In conjunction with this refinance, we entered into an interest rate cap that matures on June 1, 2015 that effectively limits interest to 5.85% per annum.

On May 9, 2012, we repaid outstanding mortgage debt with a principal balance of $29,730 secured by the Courtyard by Marriott, Miami, FL. On July 2, 2012, we entered into a new mortgage with an initial obligation of $45,000, with three additional draws of $5,000 every 90 days to fund the construction of the new oceanfront tower as described in “Note 2 – Investment in Hotel Properties”. The new mortgage debt bears interest at a variable rate of one month U.S. LIBOR plus 3.50% and matures on July 1, 2016. Also on July 2, 2012, we entered into an interest rate cap that effectively limits interest to 4.32% per annum.

On January 31, 2012, we repaid outstanding mortgage debt with an original principal balance of $32,500 secured by the Capitol Hill Suites, Washington, D.C., incurring a loss on debt extinguishment of approximately $7 and simultaneously entered into a new mortgage obligation of $27,500. The new mortgage debt bears interest at a variable rate of one month U.S. dollar LIBOR plus 3.25% and matures on February 1, 2015. On the same date, we entered into an interest rate swap that effectively fixes the interest at 3.79% per annum.

As a result of our acquisition of Metro 29th, first mortgage debt with a principal balance of $54,602 secured by the Holiday Inn Express, New York, NY is included on our consolidated balance sheet. This debt bears interest at a fixed rate of 6.50% and matures on November 5, 2016. In addition, we consolidated mezzanine debt with a principal balance of $15,000. We repaid this mezzanine debt on June 29, 2012 and incurred a loss on debt extinguishment of approximately $176.

Commitments_And_Contingencies_

Commitments And Contingencies And Related Party Transactions	12 Months Ended
	Dec. 31, 2014
Commitments And Contingencies And Related Party Transactions [Abstract]
Commitments And Contingencies And Related Party Transactions	NOTE 6 – COMMITMENTS AND CONTINGENCIES AND RELATED PARTY TRANSACTIONS

	Management Agreements

	Our wholly-owned taxable REIT subsidiary ("TRS"), 44 New England, engages eligible independent contractors in accordance with the requirements for qualification as a REIT under the internal revenue code of 1986, as amended, including HHMLP, as the property managers for hotels it leases from us pursuant to management agreements. HHMLP is owned, in part, by certain executives and trustees of the Company. Our management agreements with HHMLP provide for five-year terms and are subject to early termination upon the occurrence of defaults and certain other events described therein. As required under the REIT qualification rules, HHMLP must qualify as an “eligible independent contractor” during the term of the management agreements. Under the management agreements, HHMLP generally pays the operating expenses of our hotels. All operating expenses or other expenses incurred by HHMLP in performing its authorized duties are reimbursed or borne by our TRS to the extent the operating expenses or other expenses are incurred within the limits of the applicable approved hotel operating budget. HHMLP is not obligated to advance any of its own funds for operating expenses of a hotel or to incur any liability in connection with operating a hotel. Management agreements with other unaffiliated hotel management companies have similar terms.

	For its services, HHMLP receives a base management fee and, if a hotel exceeds certain thresholds, an incentive management fee. The base management fee for a hotel is due monthly and is equal to 3% of gross revenues associated with each hotel managed for the related month. The incentive management fee, if any, for a hotel is due annually in arrears on the ninetieth day following the end of each fiscal year and is based upon the financial performance of the hotels. For the years ended December 31, 2014, 2013, and 2012, base management fees incurred totaled $12,263, $11,713, and $10,781 respectively, and are recorded as Hotel Operating Expenses. For the years ended December 31, 2014, 2013, and 2012, we did not incur incentive management fees.

	Franchise Agreements

	Our branded hotel properties are operated under franchise agreements assumed by the hotel property lessee. The franchise agreements have 10 to 20 year terms, but may be terminated by either the franchisee or franchisor on certain anniversary dates specified in the agreements. The franchise agreements require annual payments for franchise royalties, reservation, and advertising services, and such payments are based upon percentages of gross room revenue. These payments are paid by the hotels and charged to expense as incurred. Franchise fee expense for the years ended December 31, 2014, 2013, and 2012 were $26,015, $26,247, and $24,278 respectively, and are recorded in Hotel Operating Expenses. The initial fees incurred to enter into the franchise agreements are amortized over the life of the franchise agreements.

	Accounting and Information Technology Fees

	Each of the wholly-owned hotels and consolidated joint venture hotel properties managed by HHMLP incurs a monthly accounting and information technology fee. Monthly fees for accounting services are between $2 and $3 per property and monthly information technology fees range from $1 to $2 per property. For the years ended December 31, 2014, 2013, and 2012, the Company incurred accounting fees of $1,410, $1,739, and $1,741 respectively. For the years ended December 31, 2014, 2013, and 2012, the Company incurred information technology fees of $416, $510, and $509 respectively. Accounting fees and information technology fees are included in Hotel Operating Expenses.

	Capital Expenditure Fees

	HHMLP charges a 5% fee on all capital expenditures and pending renovation projects at the properties as compensation for procurement services related to capital expenditures and for project management of renovation projects. For the years ended December 31, 2014, 2013, and 2012, we incurred fees of $742, $1,459, and $1,076 respectively, which were capitalized with the cost of fixed asset additions.


	NOTE 6 – COMMITMENTS AND CONTINGENCIES AND RELATED PARTY TRANSACTIONS (CONTINUED)

	Acquisitions from Affiliates

	We have entered into an option agreement with each of our officers and certain trustees such that we obtain a right of first refusal to purchase any hotel owned or developed in the future by these individuals or entities controlled by them at fair market value. This right of first refusal would apply to each party until one year after such party ceases to be an officer or trustee of the Company. Our Acquisition Committee of the Board of Trustees is comprised solely of independent trustees, and the purchase prices and all material terms of the purchase of hotels from related parties are approved by the Acquisition Committee.

	Hotel Supplies

	For the years ended December 31, 2014, 2013, and 2012, we incurred charges for hotel supplies of $163, $222, and $149 respectively. For the years ended December 31, 2014, 2013, and 2012, we incurred charges for capital expenditure purchases of $10,610, $19,783, and $11,809 respectively. These purchases were made from Hersha Purchasing and Design, a hotel supply company owned, in part, by certain executives and trustees of the Company. Hotel supplies are expensed and included in Hotel Operating Expenses on our consolidated statements of operations, and capital expenditure purchases are included in investment in hotel properties on our consolidated balance sheets. Approximately $2 is included in accounts payable at December 31, 2014 and December 31, 2013, respectively.

	Due From Related Parties

	The due from related parties balance as of December 31, 2014 and December 31, 2013 was approximately $6,580 and $11,124, respectively. The balances primarily consisted of working capital deposits made to Hersha affiliates.

	Due to Related Parties

	The balance due to related parties as of December 31, 2014 and December 31, 2013 was approximately $7,203 and $4,815, respectively. The balances consisted of amounts payable to HHMLP for administrative, management, and benefit related fees.

	Hotel Ground Rent

	For the years ended December 31, 2014, 2013, and 2012 we incurred $2,433, $985, and $835 respectively, of rent expense payable pursuant to ground leases related to certain hotel properties.

	Future minimum lease payments (without reflecting future applicable Consumer Price Index increases) under these agreements are as follows:


	Year Ending December 31,		Amount

	2015	$	2,342
	2016		2,374
	2017		2,374
	2018		2,374
	2019		2,374
	Thereafter		229,028
		$	240,866

	Contingent Consideration

	As noted in “Note 2 – Investment in Hotel Properties”, the purchase agreement for the acquisition of the Parrot Key Resort in Key West, FL, contains a provision that entitles the seller to additional consideration of $2,000 contingent upon the hotel achieving certain net operating income thresholds within twelve months of acquisition. Since the time of acquisition and upon measurement at December 31, 2014, a liability of $2,000 was recorded as the fair value of the contingent consideration was determined to be $2,000. The maximum cash payment under this arrangement is $2,000 in 2015.


	NOTE 6 – COMMITMENTS AND CONTINGENCIES AND RELATED PARTY TRANSACTIONS (CONTINUED)

	Litigation

We are not presently subject to any material litigation nor, to our knowledge, is any other litigation threatened against us, other than routine actions for negligence or other claims and administrative proceedings arising in the ordinary course of business, some of which are expected to be covered by liability insurance and all of which collectively are not expected to have a material adverse effect on our liquidity, results of operations or business or financial condition.

Fair_Value_Measurements_And_De

Fair Value Measurements And Derivative Instruments

12 Months Ended

Dec. 31, 2014

Fair Value Measurements And Derivative Instruments [Abstract]

Fair Value Measurements And Derivative Instruments

NOTE 7 – FAIR VALUE MEASUREMENTS AND DERIVATIVE INSTRUMENTS

Fair Value Measurements

Our determination of fair value measurements are based on the assumptions that market participants would use in pricing the asset or liability. As a basis for considering market participant assumptions in fair value measurements, we utilize a fair value hierarchy that distinguishes between market participant assumptions based on market data obtained from sources independent of the reporting entity (observable inputs that are classified within Levels 1 and 2 of the hierarchy) and the reporting entity’s own assumptions about market participant assumptions (unobservable inputs classified within Level 3 of the hierarchy).

Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access. Level 2 inputs are inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs may include quoted prices for similar assets and liabilities in active markets, as well as inputs that are observable for the asset or liability (other than quoted prices), such as interest rates, foreign exchange rates and yield curves that are observable at commonly quoted intervals. Level 3 inputs are unobservable inputs for the asset or liabilities, which are typically based on an entity’s own assumptions, as there is little, if any, related market activity. In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability.

As of December 31, 2014, the Company’s derivative instruments represented the only financial instruments measured at fair value. Currently, the Company uses derivative instruments, such as interest rate swaps and caps, to manage its interest rate risk. The valuation of these instruments is determined using widely accepted valuation techniques, including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs.

We incorporate credit valuation adjustments to appropriately reflect both our own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. In adjusting the fair value of its derivative contracts for the effect of nonperformance risk, we have considered the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds, mutual puts and guarantees.

Although we have determined that the majority of the inputs used to value our derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with our derivatives utilize Level 3 inputs, such as estimates of current credit spreads, to evaluate the likelihood of default by us and the counterparties. However, as of December 31, 2014 we have assessed the significance of the effect of the credit valuation adjustments on the overall valuation of our derivative positions and have determined that the credit valuation adjustments are not significant to the overall valuation of our derivatives. As a result, we have determined that our derivative valuations in their entirety are classified in Level 2 of the fair value hierarchy.

NOTE 7 – FAIR VALUE MEASUREMENTS AND DERIVATIVE INSTRUMENTS (CONTINUED)

Derivative Instruments

Estimated Fair Value

Hedged Debt

Type

Strike Rate

Index

Effective Date

Maturity Date

Notional Amount

31-Dec-14

31-Dec-13

Courtyard, LA Westside, Culver City, LA

Swap

1.097%

1-Month LIBOR + 3.85%

29-Sep-11

29-Sep-15

$ 30,000

-174

-374

Capitol Hill Hotel, Washington, DC

Swap

0.540%

1-Month LIBOR + 3.25%

1-Feb-12

1-Feb-15

26,639

-8

-88

Hotel 373, New York, NY *

Cap

2.000%

1-Month LIBOR + 3.85%

24-May-12

1-Jun-15

18,356

Courtyard, Miami, FL

Swap

0.820%

1-Month LIBOR + 3.50%

2-Jul-12

1-Jul-16

60,000

-218

-354

Subordinated Notes Payable

Cap

2.000%

1-Month LIBOR + 3.00%

30-Jul-12

30-Jul-14

51,548

Unsecured Term Loan

Swap

0.545%

1-Month LIBOR + 2.40%

5-Nov-12

5-Nov-16

100,000

272

430

Unsecured Term Loan

Swap

0.600%

1-Month LIBOR + 2.40%

18-Dec-12

5-Nov-16

50,000

137

Hyatt, Union Square, New York, NY

Cap

2.000%

1-Month LIBOR + 4.19%

9-Apr-13

9-Apr-16

55,000

Duane Street Hotel, New York, NY

Swap

0.933%

1-Month LIBOR + 4.50%

1-Feb-14

1-Feb-17

9,352

-29

Hilton Garden Inn 52nd Street, New York, NY

Cap

1.100%

1-Month LIBOR + 2.90%

27-May-14

1-Jun-15

45,000

Hilton Garden Inn 52nd Street, New York, NY

Swap

1.152%

1-Month LIBOR + 2.90%

1-Jun-15

21-Feb-17

45,000

-149

-212

-172

*On April 30, 2014, we sold Hotel 373, New York, NY, and therefore, terminated the interest rate cap associated with the mortgage on this property. As a result of this termination, we expensed $55 in fees, which are included in the gain on disposition of hotel properties.

On January 31, 2014, we entered into an interest rate swap that effectively fixes interest payments at 5.433% on a variable rate mortgage on the Duane Street Hotel. See “Note 5 – Debt” for more information on the interest rate swap.

On May 27, 2014, we entered into an interest rate cap that effectively fixes interest payments when 1 month-U.S. dollar LIBOR exceeds 1.10% on a variable rate mortgage on the Hilton Garden Inn 52nd Street, New York, NY. The notional amount of the interest rate cap is $45,000 and equals the principal of the variable rate mortgage being hedged. This interest rate cap matures on June 1, 2015. Upon maturity of the interest rate cap, an interest rate swap will go into effect that effectively fixes the interest payment at 4.052%.

The fair value of certain swaps and our interest rate caps is included in other assets at December 31, 2014 and December 31, 2013 and the fair value of certain of our interest rate swaps is included in accounts payable, accrued expenses and other liabilities at December 31, 2014 and December 31, 2013.

The net change in fair value of derivative instruments designated as cash flow hedges was a gain of $18 and a gain of $1,410, and a loss of $635 for the years ended December 31, 2014, 2013, and 2012, respectively. These unrealized gains and losses were reflected on our consolidated balance sheet in accumulated other comprehensive income.

Amounts reported in accumulated other comprehensive income related to derivatives will be reclassified to interest expense as interest payments are made on the Company’s variable-rate derivative. The change in net unrealized gains/losses on cash flow hedges reflects a reclassification of $1,509 of net unrealized gains/losses from accumulated other comprehensive income as an increase to interest expense during 2014. During 2015, the Company estimates that an additional $1,113 will be reclassified as an increase to interest expense.

NOTE 7 – FAIR VALUE MEASUREMENTS AND DERIVATIVE INSTRUMENTS (CONTINUED)

Fair Value of Debt

The Company estimates the fair value of its fixed rate debt and the credit spreads over variable market rates on its variable rate debt by discounting the future cash flows of each instrument at estimated market rates or credit spreads consistent with the maturity of the debt obligation with similar credit policies. Credit spreads take into consideration general market conditions and maturity. The inputs utilized in estimating the fair value of debt are classified in Level 2 of the fair value hierarchy. As of December 31, 2014, the carrying value and estimated fair value of the Company’s debt were $918,923 and $916,877, respectively. As of December 31, 2013, the carrying value and estimated fair value of the Company’s debt were $819,336 and $828,974, respectively.

Impaired Hotel Property

As discussed in “Note 12-Discontinued Operations,” the Company recorded an impairment loss for the year ended December 31, 2013 of approximately $3,723 for the Holiday Inn Express Camp Springs, MD for which the anticipated net proceeds from the sale of the hotel did not exceed the carrying value. The fair value of the hotel was estimated using level 2 inputs.

As discussed in “Note 12-Discontinued Operations,” the Company recorded an impairment loss for the year ended December 31, 2013 of approximately $6,591 for the non-core hotel portfolio the Company was under contract to sell for which the anticipated net proceeds did not exceed the carrying value. The fair value of the non-core hotel portfolio was estimated using level 2 inputs.

Share_Based_Payments

Share Based Payments	12 Months Ended
Share Based Payments	Dec. 31, 2014
Share Based Payments [Abstract]
Share Based Payments	NOTE 8 – SHARE BASED PAYMENTS

	In May 2011, the Company established and our shareholders approved the Hersha Hospitality Trust 2012 Equity Incentive Plan (the “2012 Plan”) for the purpose of attracting and retaining executive officers, employees, trustees and other persons and entities that provide services to the Company.

	Executives & Employees

	Annual Long Term Equity Incentive Programs

	To further align the interests of the Company’s executives with those of shareholders, the Compensation Committee grants annual long term equity incentive awards that are both “performance based” and “time based.” The following table is a summary of all share awards issued to executives under the Annual LTIPs:


												Shares Vested (2)				Unearned Compensation (2)
	Original Issuance Date		Shares Issued			Share Price on date of grant		Vesting Period		Vesting Schedule		23-Dec-14		31-Dec-13			31-Dec-14			31-Dec-13
	21-Mar-14
	(2013 Annual LTIP)		447,959		$	5.80		3 years		25%/year (1)		111,988		-		$	-		$	-
	20-Mar-13
	(2012 Annual LTIP)		779,045		$	5.95		3 years		25%/year (1)		389,520		389,520			-			1,039
	26-Mar-12
	(2011 Annual LTIP)		748,927		$	5.45		3 years		25%/year (1)		561,694		561,694			-			266
												1,063,202		951,214		$	-		$	1,305

	(1)25% of the issued shares vested immediately upon issuance. In general, the remaining shares vest 25% on the first through third anniversaries of the date of effective issuance (subject to continuous employment through the applicable vesting date).

	(2)All of the unvested shares issued as part of the Annual LTIP plans noted above were forfeited on December 23, 2014, and concurrently issued as LTIP Units. See below for more information.

	Stock based compensation expense related to the Annual LTIP Plans of $2,987, $3,762, and $3,925 was incurred during the years ended December 31, 2014, 2013, and 2012, respectively. Unearned compensation related to the Annual LTIPs as of December 31, 2014 and December 31, 2013 was $0 and $1,305, respectively.

	LTIP Units

	On December 23, 2014, the 2012 Plan was amended and restated to add LTIP Units as a type of award available under the 2012 Plan. On this date, the Compensation Committee approved an aggregate of 1,948,324 LTIP Units to certain executive officers. These executive officers forfeited an aggregate of 1,948,324 Class A Common Shares, all of which were unvested as of the grant date of the LTIP Units and previously awarded to the executive officers under the 2012 Plan as restricted stock awards. The LTIP Units granted on December 23, 2014 are subject to the same time-based vesting conditions that applied to the forfeited restricted stock awards.


	NOTE 8 – SHARE BASED PAYMENTS (CONTINUED)

	The following table is a summary of the LTIP Units issued to executive officers as of December 31, 2014.:

									31-Dec-14
	Issuance Date		LTIP Units Issued		Vesting Period		Vesting Schedule		Units Vested			Unearned Compensation
	23-Dec-14
	(2013 Annual LTIP)		335,972		3 years		25%/year (1)		111,991		$	582
	23-Dec-14
	(2012 Annual LTIP)		389,524		3 years		25%/year (1)		194,761			309
	23-Dec-14
	(2011 Annual LTIP)		187,233		3 years		25%/year (1)		187,233			-
	23-Dec-14		1,035,595		5 years		33% Year 3, 4, 5 (2)		-			2,650
			1,948,324						493,985		$	3,541

	(1)As noted above, the vesting schedule for each of the Annual LTIP Plans remains intact with the conversion to LTIP Units.

	(2)On April 18, 2012, the Company entered into amended and restated employment agreements with the Company’s executive officers. To induce the executives to agree to the substantial reduction in benefits upon certain terminations following a change of control as described in the agreements, the Company awarded an aggregate of 1,035,595 restricted common shares to the executives pursuant to the 2012 Plan. None of these restricted common shares will vest prior to the third anniversary of the date of issuance. Thereafter, 33.3% of each award of restricted common shares will vest on each of the third, fourth and fifth anniversaries of the date of issuance. Vesting will accelerate upon a change of control or if the relevant executive’s employment with the Company were to terminate for any reason other than for cause (as defined in the agreements).

	Multi-Year LTIP

	On April 11, 2014, the Compensation Committee approved the 2014 Multi-Year LTIP. The common shares issuable under this program are based on the Company’s achievement of a certain level of (1) absolute total shareholder return (37.50% of the award), (2) relative total shareholder return as compared to the Company’s peer group (37.50% of the award), and (3) relative growth in revenue per available room compared to the Company’s peer group (25% of the award). This program has a three-year performance period which commenced on January 1, 2014 and ends December 31, 2016. As of December 31, 2014 no common shares have been issued in accordance with the 2014 Plan to the executive officers in settlement of 2014 Multi-Year LTIP awards.

	On April 15, 2013, the Compensation Committee approved the 2013 Multi-Year LTIP. The common shares issuable under this program are based on the Company’s achievement of a certain level of (1) absolute total shareholder return (50% of the award), (2) relative total shareholder return as compared to the Company’s peer group (25% of the award), and (3) relative growth in revenue per available room compared to the Company’s peer group (25% of the award). This program has a three year performance period which commenced on January 1, 2013 and ends December 31, 2015. As of December 31, 2014 no common shares have been issued in accordance with the 2013 Plan to the executive officers in settlement of 2013 Multi-Year LTIP awards.

	The Company accounts for the total shareholder return components of these grants as market-based awards where the Company estimates unearned compensation at the grant date fair value which is then amortized into compensation cost over the vesting period of each individual plan. The Company accounts for the RevPAR component of the grants as performance-based awards.

	Stock based compensation expense of $598, $3,481 and $3,192 was recorded for the years ended December 31, 2014, 2013, and 2012, respectively, for the Multi-Year LTIPs. Unearned compensation related to the Multi Year LTIPs as of December 31, 2014 and December 31, 2013, respectively, was $1,621 and $1,157.


	NOTE 8 – SHARE BASED PAYMENTS (CONTINUED)

Restricted Share Awards

In addition to stock based compensation expense related to awards under the Multi-Year LTIPs and Annual LTIPs, stock based compensation expense related to restricted common shares issued to executives and employees of the Company of $1,495, $1,618, and $1,911 was incurred during the years ended December 31, 2014, 2013, and 2012 respectively. Unearned compensation related to the restricted share awards as of December 31, 2014 and December 31, 2013 was $322 and $4,102, respectively. The following table is a summary of all unvested share awards issued to executives under the 2012 Plan and prior
equity incentive plans:


											Shares Vested					Unearned Compensation
Original Issuance Date		Shares Issued			Share Price on Date of Grant		Vesting Period		Vesting Schedule		31-Dec-14		31-Dec-13			31-Dec-14			31-Dec-13
15-Jul-14		52,077			6.75		2 years		50% /year		6,126		-			177			-
23-Jun-14		4,411			6.50		2 years		50% /year		-		-			20			-
24-Mar-14		8,184			5.69		2 years		50% /year		4,091		-			10			-
13-Feb-14		1,846			5.44		2 years		50% /year		923		-			2			-
20-Sep-13		4,605			5.52		2-4 years		25-50% /year		4,605		-			-			19
28-Jun-13		48,600			5.64		2-4 years		25-50% /year		22,895		-			69			199
29-Jun-12		52,703			5.28		2-4 years		25-50% /year		44,967		22,480			36			110
18-Apr-12		1,035,595			5.47		5 years		33% Year 3, 4, 5 (1)		-		-			-			3,746
30-Jun-11		17,692			5.57		2-4 years		25-50% /year		13,804		9,919			8			28
Total		1,225,713									97,411		32,399		$	322		$	4,102

(1)As noted above, the unvested shares associated with this issuance were forfeited and immediately issued as LTIP Units on December 23, 2014. The historical information pertaining to the unvested shares before the conversion is shown this table.

Trustees

Annual Retainer

The Compensation Committee approved a program that allows the Company’s trustees to make a voluntary election to receive any portion of the annual cash retainer in the form of common equity valued at a 25% premium to the cash that would have been received. On December 30, 2014, we issued 12,860 shares which do not fully vest until December 31, 2015. Compensation expense incurred for the years ended December 31, 2014, 2013, and 2012, respectively, was $220, $160, and $66.

The following table is a summary of all unvested share awards issued to trustees in lieu of annual cash retainer:



											Unearned Compensation
Original Issuance Date		Shares Issued			Share Price on Date of Grant		Vesting Period		Vesting Schedule			31-Dec-14			31-Dec-13
30-Dec-14		12,860		$	7.25		1 year		100%		$	93		$	-
27-Dec-13		39,133			5.63		1 year		100%			-			220
Total		51,993										93			220


Multi-Year Long-Term Equity Incentives

Compensation expense for the multi-year long term incentive plans for the Company’s trustees incurred for the years ended December 31, 2014, 2013, and 2012, respectively, was $71, $55, and $43. Unearned compensation related to the multi-year long term equity incentives was $127 and $124 as of December 31, 2014 and December 31, 2013, respectively.



NOTE 8 – SHARE BASED PAYMENTS (CONTINUED)

The following table is a summary of all unvested share awards issued to trustees under the 2012 Plan and prior to equity incentive plans:


									Shares Vested				Unearned Compensation
Original Issuance Date		Shares Issued			Vesting Period		Vesting Schedule		31-Dec-14		31-Dec-13			31-Dec-14			31-Dec-13
30-Dec-14		10,000			3 years		33% /year		-		-		$	73		$	-
27-Dec-13		12,000			3 years		33% /year		5,335		-			38			67
28-Dec-12		12,000			3 years		33% /year		8,670		4,002			16			39
5-Jun-12		10,800			3 years		33% /year		10,800		7,200			-			18
									24,805		11,202		$	127		$	124


Share Awards

Compensation expense related to share awards issued to the Board of Trustees of $457, $496 and $402 was incurred during the years ended December 31, 2014, 2013, and 2012, respectively and is recorded in general and administrative expense on the statement of operations. Share awards issued to the Board of Trustees are immediately vested. On June 23, 2014 an aggregate 47,475 shares were issued to the Board of Trustees at a price per share on the date of grant of $6.50. On December 30, 2014, an aggregate 20,500 shares were issued to the Board of Trustees at a price per share on the date of grant of $7.25.

Non-employees

The Company issues share based awards as compensation to non-employees for services provided to the Company consisting primarily of restricted common shares. The Company recorded stock based compensation expense of $200, $174, and $139 for the years ended December 31, 2014, 2013, and 2012, respectively. Unearned compensation related to the restricted share awards as of December 31, 2014 and December 31, 2013 was $81 and $81, respectively. The following table is a summary of all unvested share awards issued to non-employees under the Company’s 2008 Equity Incentive Plan and the 2012 Plan:













											Shares Vested					Unearned Compensation
Original Issuance Date		Shares Issued			Share Price on Date of Grant		Vesting Period		Vesting Schedule		31-Dec-14		31-Dec-13			31-Dec-14			31-Dec-13
24-Mar-14		30,000		$	5.69		2 years		50% /year		15,000		-		$	81		$	-
1-Feb-13		30,000		$	5.41		2 years		50% /year		30,000		14,999			-			81
Total		60,000									45,000		14,999		$	81		$	81

Earnings_Per_Share

Earnings Per Share	12 Months Ended
Earnings Per Share	Dec. 31, 2014
Earnings Per Share [Abstract]
Earnings Per Share	NOTE 9 – EARNINGS PER SHARE

	The following table is a reconciliation of the income or loss (numerator) and the weighted average shares (denominator) used in the calculation of basic and diluted earnings per common share. The computation of basic and diluted earnings per share is presented below.





		For the Year Ended December 31,
			2014			2013		2012
	NUMERATOR:
	Basic and Diluted*
	Income from Continuing Operations	$	69,936		$	20,753	$	7,498
	(Income) Loss from Continuing Operations allocated to Noncontrolling Interests		-1,069			658		703
	Distributions to Preferred Shareholders		-14,356			-14,611		-14,000
	Dividends Paid on Unvested Restricted Shares and LTIP Units		-515			-804		-459
	Extinguishment of Issuance Costs Upon Redemption of Series A Preferred Stock		-			-2,250		-
	Income (Loss) from Continuing Operations attributable to Common Shareholders		53,996			3,746		-6,258

	Discontinued Operations
	(Loss) Income from Discontinued Operations		-1,665			29,195		14,720
	Loss (Income) from Discontinued Operations allocated to Noncontrolling Interests		53			-993		-545
	(Loss) from Discontinued Operations attributable to Common Shareholders		-1,612			28,202		14,175

	Net Income attributable to Common Shareholders	$	52,384		$	31,948	$	7,917

	DENOMINATOR:
	Weighted average number of common shares - basic		199,109,209			198,390,450		187,415,270
	Effect of dilutive securities:
	Restricted Stock Awards (unvested)		1,358,603			2,384,165		-	*
	Contingently Issued Shares		729,498			1,143,562		-	*
	Weighted average number of common shares - diluted		201,197,310			201,918,177		187,415,270


	*Income (loss) allocated to noncontrolling interest in Hersha Hospitality Limited Partnership has been excluded from the numerator and units of limited partnership interest in Hersha Hospitality Limited Partnership have been omitted from the denominator for the purpose of computing diluted earnings per share since the effect of including these amounts 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) from continuing operations applicable to common shareholders.


	NOTE 9 – EARNINGS PER SHARE (CONTINUED)
	The following table summarizes potentially dilutive securities that have been excluded from the denominator for the purpose of computing diluted earnings per share:








		For the Year Ended December 31,
		2014		2013		2012

	Common Units	6,909,649		6,968,035		7,208,123
	LTIP Units	32,711		-		-
	Unvested Stock Awards Outstanding	-		-		433,097
	Contingently Issuable Share Awards	-		-		2,778,545
	Options to Acquire Common Shares Outstanding	-		-		275,580
	Total potentially dilutive securities	6,942,360		6,968,035		10,695,345
	excluded from the denominator	6,942,360		6,968,035		10,695,345

Cash_Flow_Disclosures_And_Non_

Cash Flow Disclosures And Non Cash Investing And Financing Activities	12 Months Ended
	Dec. 31, 2014
Cash Flow Disclosures And Non Cash Investing And Financing Activities [Abstract]
Cash Flow Disclosures And Non Cash Investing And Financing Activities	NOTE 10 – CASH FLOW DISCLOSURES AND NON CASH INVESTING AND FINANCING ACTIVITIES

	Interest paid during 2014, 2013, and 2012 totaled $40,760, $42,984, and $41,744 respectively. The following non-cash investing and financing activities occurred during 2014, 2013 and 2012:




		2014		2013		2012
	Common Shares issued as part of the Dividend Reinvestment Plan	$	50	$	38	$	24
	Acquisition of hotel properties:
	Debt assumed		24,924		-		85,913
	Development loan accrued interest revenue receivable paid in-kind by adding balance to development loan principal		-		-		678
	Settlement of development loan receivable principal and accrued interest revenue receivable		22,494		13,303		-
	Disposition of hotel properties:
	Investment in hotel properties, net, conveyed to mortgage lender		-		-		1,938
	Debt conveyed to mortgage lender		-		-		2,940
	Debt assumed by purchaser		45,710		-		54,217
	Conversion of Common Units to Common Shares		72		106		572
	Reallocation of noncontrolling interest		-		-		-966
	Accrued payables for fixed assets placed into service		1,312		2,572		-

Hotel_Dispositions

Hotel Dispositions	12 Months Ended
Hotel Dispositions	Dec. 31, 2014
Hotel Dispositions [Abstract]
Hotel Dispositions	NOTE 11 – HOTEL DISPOSITIONS

	Effective January 1, 2014, we early adopted ASU Update No. 2014-08 concerning the classification and reporting of discontinued operations. This amendment defines discontinued operations as a component of an entity that represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results. As a result of the early adoption of ASU Update No. 2014-08, we anticipate that most of our hotel dispositions will not be classified as discontinued operations as most will not fit this definition.

	For transactions that have been classified as held for sale or as discontinued operations for periods prior to our adoption of ASU Update No. 2014-08, we will continue to present the operating results as discontinued operations in the statements of operations for all applicable periods presented.

	Disposed Assets



	Hotel		Acquisition		Disposition			Consideration			Gain on
	Hotel		Date		Date			Consideration			Disposition

	Hotel 373		Jun-07		Apr-14		$	37,000		$	7,195
	2014 Total									$	7,195	-1

	Non-Core Portfolio II (12)		January 1999 - July 2010		Dec-13		$	158,600		$	31,559	-2
	Holiday Inn Express, Camp Springs, MD		Jun-08		Sep-13			8,500			120	-3
	Comfort Inn, Harrisburg, PA		Jan-99		Jun-13			3,700			442
	2013 Total										32,121

	Non-Core Hotel Portfolio (18)		January 1999 - July 2007		February 2012 & May 2012		$	155,000		$	4,978	-4
	Land Parcel, Eighth Ave, Manhattan, NY		Jun-06		Apr-12			19,250			5,037
	Comfort Inn, North Dartmouth, MA		May-06		Mar-12			-			1,216	-5
	2012 Total									$	11,231

		-1		The operations from this property included (loss) income of ($137), $858, $546 for the years ended December 31, 2014, 2013, and 2012, respectively.

		-2		In September 2013, our Board of Trustees authorized management of the Company to sell this portfolio. On September 20, 2013, the Company entered into a purchase and sale agreement to dispose of a portfolio of 16 non-core hotel properties, for an aggregate purchase price of approximately $217,000. The 16 non-core hotel properties in the portfolio were acquired by the Company between 1999 and 2010. We recorded an impairment loss of approximately $6,591 for those assets for which the anticipated net proceeds do not exceed the carrying value.

	On December 20, 2013, the Company closed on the sale of 12 of these non-core hotel properties. As a result of entering into these purchase and sale agreements for the 16 non-core assets mentioned above, the operating results for the consolidated assets were reclassified to discontinued operations in the statement of operations for the years ended December 31, 2014, 2013, and 2012. The 12 assets were sold for a total sales price of $158,600, reduced the Company’s consolidated mortgage debt by $33,044 and generated a gain on sale of approximately $31,559. In February 2014, the remaining 4 assets were sold for a total sales price of $58,400 and reduced the Company’s consolidated mortgage debt by $45,710. We recorded an impairment loss of approximately $1,800 for those assets for which the anticipated net proceeds did not exceed the carrying value.

		-3		We recorded an impairment loss for this property of approximately $3,723 as the net proceeds did not exceed the carrying value.



	NOTE 11 – HOTEL DISPOSITIONS (CONTINUED)

		-4		On February 23, 2012, the Company closed on the sale of 14 non-core hotel properties, including three hotel properties owned in part by the Company through an unconsolidated joint venture, and closed on the remaining four properties, on May 8, 2012, including one hotel property owned in part by the Company through an unconsolidated joint venture. The operating results for the consolidated assets were reclassified to discontinued operations in the statement of operations for the year ended December 31, 2012. The 18 assets were sold for a total sales price of $155,000, reduced the Company’s consolidated mortgage debt by $61,298 and generated a gain on sale of approximately $4,978.

		-5		On March 30, 2012, we transferred the title to the Comfort Inn, located in North Dartmouth, to the lender. Previously, we had ceased operations at this property on March 31, 2011. The operating results were reclassified to discontinued operations in the statements of operations for the year ended December 31, 2012. The transfer of the title resulted in a gain of approximately $1,216, since the outstanding mortgage loan payable exceeded the net book value of the property.

	Assets Held for Sale

	Assets held for sale or liabilities related to assets held for sale consisted of the following as of December 31, 2013:




			31-Dec-13

	Land		$	9,517
	Buildings and Improvements			58,129
	Furniture, Fixtures and Equipment			9,198
				76,844

	Less: Accumulated Depreciation & Amortization			-20,261

	Assets Held for Sale		$	56,583

	Liabilities Related to Assets Held for Sale		$	45,835


	NOTE 11 – HOTEL DISPOSITIONS (CONTINUED)

The following table sets forth the components of discontinued operations for the years ended December 31, 2014, 2013, and 2012. Discontinued operations include the results of operations for hotels sold in 2013 and the first quarter of 2014 (which were held for sale as of December 31, 2013).



		Year Ended December 31,
			2014			2013			2012
Revenue:
Hotel Operating Revenues		$	1,940		$	58,045		$	63,465
Other Revenue			-			-			11
Total Revenues			1,940			58,045			63,476
Expenses:
Hotel Operating Expenses			1,151			35,158			39,046
Gain on Insurance Settlements			74			-			-
Hotel Ground Rent			-			-			72
Real Estate and Personal Property Taxes and Property Insurance			91			3,316			3,636
General and Administrative			4			36			27
Acquisition and Termination Transaction Costs			-			-			8
Depreciation and Amortization			1			7,050			9,148
Interest Expense			354			4,863			7,872
Other Expense			-			44			10
Loss on Debt Extinguishment			-			-			168
Income Tax Expense			2			190			-
Total Expenses			1,677			50,657			59,987

Income from Discontinued Operations		$	263		$	7,388		$	3,489

We allocate to income or loss from discontinued operations interest expense related to debt that is to be assumed or that is required to be repaid as a result of the disposal transaction.

Shareholders_Equity_And_Noncon

Shareholders' Equity And Noncontrolling Interests In Partnership	12 Months Ended
	Dec. 31, 2014
Stockholders' Equity Note [Abstract]
Shareholders' Equity And Noncontrolling Interests In Partnership	NOTE 12 – SHAREHOLDERS’ EQUITY AND NONCONTROLLING INTERESTS IN PARTNERSHIP

	Common Shares

	The Company’s outstanding common shares have been duly authorized, and are fully paid and non-assessable. Common shareholders are entitled to receive dividends if and when authorized and declared by the Board of Trustees of the Company out of assets legally available and to share ratably in the assets of the Company legally available for distribution to its shareholders in the event of its liquidation, dissolution or winding up after payment of, or adequate provision for, all known debts and liabilities of the Company.

	Preferred Shares

	The Declaration of Trust authorizes our Board of Trustees to classify any unissued preferred shares and to reclassify any previously classified but unissued preferred shares of any series from time to time in one or more series, as authorized by the Board of Trustees. Prior to issuance of shares of each series, the Board of Trustees is required by Maryland REIT Law and our Declaration of Trust to set for each such series, subject to the provisions of our Declaration of Trust regarding the restriction on transfer of shares of beneficial interest, the terms, the preferences, conversion or other rights, voting powers, restrictions, limitations as to dividends or other distributions, qualifications and terms or conditions of redemption for each such series. Thus, our Board of Trustees could authorize the issuance of additional preferred shares with terms and conditions which could have the effect of delaying, deferring or preventing a transaction or a change in control in us that might involve a premium price for holders of common shares or otherwise be in their best interest.

	Common Units

	Common Units are issued in connection with the acquisition of wholly owned hotels and joint venture interests in hotel properties. The total number of Common Units outstanding as of December 31, 2014, 2013 and 2012 was 6,849,412, 6,914,716, and 7,112,506, respectively. These units can be redeemed for cash or converted to common shares, at the Company’s option, on a one-for-one basis. The number of common shares issuable upon exercise of the redemption rights will be adjusted upon the occurrence of stock splits, mergers, consolidation or similar pro rata share transactions, that otherwise would have the effect of diluting the ownership interest of the limited partners or our shareholders. During 2014, 2013 and 2012, 18,900, 27,790, and 157,810 Common Units were converted to common shares, respectively. The Company redeemed 46,404 Common Units for $338 during 2014. In addition, as noted in “Note 8 – Share Based Payments,” during 2014, the Company issued 1,948,324 of LTIP Units.

Income_Taxes

Income Taxes	12 Months Ended
Income Taxes	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Income Taxes

	NOTE 13 – INCOME TAXES

	The Company elected to be taxed as a REIT under Sections 856 through 860 of the Internal Revenue Code commencing with its taxable year ended December 31, 1999. To qualify as a REIT, the Company must meet a number of organizational and operational requirements, including a requirement that it currently distribute at least 90% of its REIT taxable income to its shareholders. It is the Company’s current intention to adhere to these requirements and maintain the Company’s qualification for taxation as a REIT. As a REIT, the Company generally will not be subject to federal corporate income tax on that portion of its net income that is currently distributed to shareholders. If the Company fails to qualify for taxation as a REIT in any taxable year, it will be subject to federal income taxes at regular corporate rates (including any applicable alternative minimum tax) and may not be able to qualify as a REIT for four subsequent taxable years. Even if the Company qualifies for taxation as a REIT, the Company may be subject to certain state and local taxes on its income and property, and to federal income and excise taxes on its undistributed taxable income.

	Taxable income from non-REIT activities managed through taxable REIT subsidiaries is subject to federal, state and local income taxes. 44 New England is subject to income taxes at the applicable federal, state and local tax rates.

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



				For the year ended December 31,
				2014		2013		2012
	Statutory federal income tax provision		$	22,865	$	5,152	$	1,409
	Adjustment for nontaxable loss			-25,274		-7,472		-623
	State income taxes, net of federal income tax effect			-367		-1,317		151
	Recognition of deferred tax assets			91		-1,963		-
	Changes in valuation allowance			-		-		-4,292

	Total income tax benefit		$	-2,685	$	-5,600	$	-3,355

	The components of the Company’s income tax expense (benefit) from continuing operations for the years ended December 31, 2014, 2013 and 2012 were as follows:


				For the year ended December 31,
				2014		2013		2012
	Income tax expense (benefit):
	Current:
	Federal		$	-	$	-	$	-
	State			-		-		229
	Deferred:
	Federal		$	-2,130		-3,604		-3,584
	State			-555		-1,996		-
	Total			-2,685	$	-5,600	$	-3,355

	Income tax expense (benefit):
	From continuing operations		$	-2,685		-5,600		-3,355
	From discontinued operations			2		190		-
	Total			-2,683	$	-5,410	$	-3,355


	NOTE 13 – INCOME TAXES (CONTINUED)

	The components of consolidated TRS’s net deferred tax asset as of December 31, 2014 and 2013 were as follows:



				As of December 31,
				2014		2013
	Deferred tax assets:
	Net operating loss carryforwards		$	11,387	$	8,605
	Accrued expenses and other			616		685
	Tax credit carryforwards			481		280
	Total gross deferred tax assets			12,484		9,570
	Valuation allowance			-804		-804
	Total net deferred tax assets		$	11,680	$	8,766
	Deferred tax liabilities:
	Depreciation and amortization			232		-
	Total Net deferred tax assets (liabilities)		$	11,448	$	8,766


	In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. Based on limitations related to the utilization of certain tax attribute carryforwards, the Company recorded a valuation allowance of approximately $804 as these attributes are not more likely than not to be realized prior to their expiration. Based on the level of historical taxable income, tax planning strategies and projections for future taxable income over the periods in which the remaining deferred tax assets are deductible, Management believes it is more likely than not that the remaining deferred tax assets will be realized.

As of December 31, 2014, we have gross federal net operating loss carryforwards of $28,732 which expire over various periods from 2023 through 2034. As of December 31, 2014, we have gross state net operating loss carryforwards of $30,868 which expire over various periods from 2014 to 2034. The Company has tax credits of $481 available which begin to expire in 2028.

Earnings and profits, which will determine the taxability of distributions to shareholders, will differ from net income reported for financial reporting purposes due to the differences for federal tax purposes in the estimated useful lives and methods used to compute depreciation. The following table sets forth certain per share information regarding the Company’s common and preferred share distributions for the years ended December 31, 2014, 2013 and 2012.







		2014		2013	2012
Preferred Shares - 8% Series A
Ordinary income		N/A		100.00%	100.00%
Return of Capital		N/A		0.00%	0.00%
Capital Gain Distribution		N/A		0.00%	0.00%
Preferred Shares - 8% Series B
Ordinary income		100.00%		100.00%	100.00%
Return of Capital		0.00%		0.00%	0.00%
Capital Gain Distribution		0.00%		0.00%	0.00%
Preferred Shares - 6.875% Series C
Ordinary income		100.00%		100.00%	N/A
Return of Capital		0.00%		0.00%	N/A
Capital Gain Distribution		0.00%		0.00%	N/A
Common Shares - Class A
Ordinary income		76.34%		45.15%	1.28%
Return of Capital		23.66%		54.85%	98.72%
Capital Gain Distribution		0.00%		0.00%	0.00%

Selected_Quarterly_Financial_D

Selected Quarterly Financial Data (Unaudited)	12 Months Ended
Selected Quarterly Financial Data (Unaudited)	Dec. 31, 2014
Selected Quarterly Financial Information [Abstract]
Selected Quarterly Financial Data (Unaudited)	NOTE 14 – SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)

		Year Ended December 31, 2014
		First Quarter		Second Quarter		Third Quarter		Fourth Quarter
	Total Revenues	$	80,348	$	111,830	$	113,048	$	112,985
	Total Expenses		85,203		53,593		106,625		106,232
	(Loss) Income from Unconsolidated Joint Ventures		-420		419		607		87
	(Loss) Income from Continuing Operations		-5,275		58,656		7,030		6,840

	Income Tax Benefit		108		-1		699		1,879
	Income (Loss) from Discontinued Operations (including Gain on Disposition of Discontinued Assets)*		-1,346		-69		-142		-108
	Net (Loss) Income		-6,513		58,586		7,587		8,611

	(Loss) Income Allocated to Noncontrolling Interests in Continuing Operations		-507		1,655		-49		-83
	Issuance Costs of Redeemed Preferred Stock		-		-		-		-
	Preferred Distributions		3,589		3,589		3,589		3,589
	Net (Loss) Income applicable to Common Shareholders	$	-9,595	$	53,342	$	4,047	$	5,105
	Basic and diluted earnings per share:
	(Loss) Income from continuing operations applicable to common shareholders	$	-0.04	$	0.27	$	0.02	$	0.03
	Discontinued Operations		-0.01		0.00		0.00		0.00
	Net (Loss) Income applicable to Common Shareholders	$	-0.05	$	0.27	$	0.02	$	0.03
	Weighted Average Common Shares Outstanding
	Basic		200,743,751		198,494,473		198,597,517		198,629,945
	Diluted		200,743,751		200,213,554		200,621,986		200,779,472

		Year Ended December 31, 2013
		First Quarter		Second Quarter		Third Quarter		Fourth Quarter
	Total Revenues	$	65,878	$	91,068	$	90,741	$	92,510
	Total Expenses		73,174		71,703		87,512		90,820
	(Loss) Income from Unconsolidated Joint Ventures		-396		148		227		-1,814
	(Loss) Income from Continuing Operations		-7,692		19,513		3,456		-124

	Income Tax Benefit		1,129		-1,222		2,375		3,318
	(Loss) Income from Discontinued Operations (including Gain on Disposition of Discontinued Assets)		-1,113		-206		-3,532		34,046
	Net (Loss) Income		-7,676		18,085		2,299		37,240

	(Loss) Income Allocated to Noncontrolling Interests in Continuing Operations		-673		210		-164		962
	Extinguishment of Issuance Costs Upon Redemption of Series A Preferred Shares		2,250		-		-		-
	Preferred Distributions		3,844		3,589		3,589		3,589
	Net (Loss) Income applicable to Common Shareholders	$	-13,097	$	14,286	$	-1,126	$	32,689
	Basic and diluted earnings per share:
	(Loss) Income from continuing operations applicable to common shareholders	$	-0.07	$	0.08	$	0.01	$	0.00
	Discontinued Operations		0.00		-0.01		-0.02		0.16
	Net Loss (Income) applicable to Common Shareholders	$	-0.07	$	0.07	$	-0.01	$	0.16
	Weighted Average Common Shares Outstanding
	Basic		197,029,017		198,633,051		198,878,496		198,944,277
	Diluted		197,029,017		201,201,337		201,644,633		198,944,277

	*Effective January 1, 2014, we early adopted ASU Update No. 2014-08 concerning the classification and reporting of discontinued operations. As such, this line item for quarterly results presented for 2014 will not be comparable.

Schedule_III_Real_Estate_And_A

Schedule III - Real Estate And Accumulated Depreciation	12 Months Ended
	Dec. 31, 2014
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]
Schedule III - Real Estate And Accumulated Depreciation


				Initial Costs			Costs Capitalized Subsequent to Acquisition		Gross Amounts at which Carrried at Close of Period				Accumulated Depreciation	Net Book Value

	Description		Encumbrances	Land	Buildings & Improvements		Land	Buildings & Improvements	Land	Buildings & Improvements	Total		Buildings & Improvements*	Land, Buildings & Improvements	Date of Acquisition

	Residence Inn,			1,325	12,737		-	4,844	1,325	17,581	18,906		($4,860)	14,046	3/26/04
	Framingham, MA
	Hampton Inn,		-23,026	5,472	23,280		-	1,458	5,472	24,738	30,210		-6,703	23,507	4/1/05
	New York, NY
	Residence Inn,			2,615	14,815		-	2,250	2,615	17,065	19,680		-5,021	14,659	7/16/04
	Greenbelt, MD
	Courtyard,		-36,453	-	47,414		-	1,554	-	48,968	48,968		-12,438	36,530	6/16/05
	Brookline, MA
	Residence Inn,			4,283	14,475		-	1,920	4,283	16,395	20,678		-4,113	16,565	2/2/06
	Tyson's Corner, VA
	Hilton Garden Inn,		-19,707	-	25,018		-	2,618	-	27,636	27,636		-6,770	20,866	2/16/06
	JFK Airport, NY
	Hawthorne Suites,		-7,520	1,872	8,968		-	505	1,872	9,473	11,345		-2,211	9,134	4/25/06
	Franklin, MA
	Holiday Inn Exp,			1,956	9,793		-	2,352	1,956	12,145	14,101		-3,469	10,632	5/3/06
	Cambridge, MA
	Residence Inn,			1,970	11,761		-	1,482	1,970	13,243	15,213		-2,904	12,309	7/27/06
	Norwood, MA
	Hampton Inn,		-33,696	8,905	33,500		-	1,944	8,905	35,444	44,349		-8,215	36,134	9/29/06
	Chelsea, NY
	Hyatt House,		-13,720	2,912	16,001		-	3,812	2,912	19,813	22,725		-4,616	18,109	12/28/06
	Gaithersburg, MD
	Hyatt House,		-20,160	6,216	17,229		-	2,996	6,216	20,225	26,441		-4,200	22,241	12/28/06
	Pleasant Hills, CA
	Hyatt House,		-14,490	3,941	12,560		-	3,497	3,941	16,057	19,998		-3,815	16,183	12/28/06
	Pleasanton, CA
	Hyatt House,		-16,778	3,060	19,968		-	3,408	3,060	23,376	26,436		-5,575	20,861	12/28/06
	Scottsdale, AZ
	Hyatt House,		-33,030	8,823	30,273		-	2,700	8,823	32,973	41,796		-7,501	34,295	12/28/06
	White Plains, NY
	Holiday Inn Exp & Suites,		-6,264	1,500	6,671		-	242	1,500	6,913	8,413		-1,404	7,009	1/25/07
	Chester, NY

	(1) Costs capitalized subsequent to acquisition include reductions of asset value due to impairment.



				Initial Costs			Costs Capitalized Subsequent to Acquisition		Gross Amounts at which Carrried at Close of Period				Accumulated Depreciation	Net Book Value

	Description		Encumbrances	Land	Buildings & Improvements		Land	Buildings & Improvements	Land	Buildings & Improvements	Total		Buildings & Improvements*	Land, Buildings & Improvements	Date of Acquisition
	Hampton Inn,		-17,764	7,816	19,040		-	811	7,816	19,851	27,667		-4,049	23,618	2/1/07
	Seaport, NY
	Sheraton Hotel,			-	27,315		-	1,430	-	28,745	28,745		-4,877	23,868	6/13/08
	JFK Airport, NY
	Hampton Inn,			3,490	24,382		-	5,914	3,490	30,296	33,786		-10,619	23,167	2/15/06
	Philadelphia, PA
	Duane Street,		-9,352	8,213	12,869		-	1,276	8,213	14,145	22,358		-2,883	19,475	1/4/08
	Tribeca, NY
	NU Hotel,			-	22,042		-	1,515	-	23,557	23,557		-3,947	19,610	1/14/08
	Brooklyn, NY
	Hilton Garden Inn,		-46,500	21,077	42,955		-	583	21,077	43,538	64,615		-6,222	58,393	5/1/09
	Tribeca, NY
	Hampton Inn,			10,691	41,637		-	316	10,691	41,953	52,644		-5,163	47,481	2/9/10
	Times Square, NY
	Holiday Inn Express,			11,075	43,113		-	54	11,075	43,167	54,242		-5,288	48,954	2/9/10
	Times Square, NY
	Candlewood Suites,			10,281	36,687		-	44	10,281	36,731	47,012		-4,491	42,521	2/9/10
Times Square, NY
Hyatt Place,			1,133	7,267		-	4,012	1,133	11,279	12,412		-4,436	7,976	8/17/10
KOP, PA
Holiday Inn Express,			12,152	21,100		-	323	12,152	21,423	33,575		-2,526	31,049	5/9/10
Wall Street, NY
Hampton Inn,			9,335	58,048		-	1,191	9,335	59,239	68,574		-6,651	61,923	9/1/10
Washington, DC
Courtyard,		-23,403	6,376	26,089		-	2,555	6,376	28,644	35,020		-6,701	28,319	9/29/06
Alexandria, VA
Sheraton,			1,765	16,929		-	1,187	1,765	18,116	19,881		-2,902	16,979	12/21/10
Wilmington South, DE
Holiday Inn,			7,341	28,591		-	326	7,341	28,917	36,258		-2,415	33,843	3/25/11
Water Street, NY

(1) Costs capitalized subsequent to acquisition include reductions of asset value due to impairment.




			Initial Costs			Costs Capitalized Subsequent to Acquisition		Gross Amounts at which Carrried at Close of Period				Accumulated Depreciation	Net Book Value

Description		Encumbrances	Land	Buildings & Improvements		Land	Buildings & Improvements	Land	Buildings & Improvements	Total		Buildings & Improvements*	Land, Buildings & Improvements	Date of Acquisition
Capitol Hill Suites		-26,639	8,095	35,141		-	3,874	8,095	39,015	47,110		-4,318	42,792	4/15/11
Washington, DC
Courtyard,		-30,000	13,489	27,025		-	4,531	13,489	31,556	45,045		-3,142	41,903	5/19/11
LA Westside, CA
Hampton Inn,			11,384	23,432		-	480	11,384	23,912	35,296		-295	35,001	7/22/11
Pearl Street, NY
Courtyard,		-60,000	35,699	55,805		-	22,163	35,699	77,968	113,667		-5,080	108,587	11/16/11
Miami, FL
The Rittenhouse			7,108	29,556		-	13,661	7,108	43,217	50,325		-4,819	45,506	3/1/12
Hotel, PA
Bulfinch,			1,456	14,954		-	1,448	1,456	16,402	17,858		-1,338	16,520	5/7/12
Boston, MA
Holiday Inn Express,			30,329	57,016		-	731	30,329	57,747	88,076		-3,805	84,271	6/18/12
Manhattan, NY
Hyatt,		-55,000	32,940	79,300		-	759	32,940	80,059	112,999		-3,499	109,500	4/9/13
Union Square, NY
Courtyard,			15,656	51,674		-	274	15,656	51,948	67,604		-2,061	65,543	5/30/13
San Diego, CA
Residence Inn,			4,146	17,456		-	5,107	4,146	22,563	26,709		-953	25,756	6/12/13
Coconut Grove, FL
Hotel Milo,		-24,577	-	55,080		-	193	-	55,273	55,273		-1,156	54,117	2/28/14
Santa Barbara, CA
Hilton Garden Inn,		-45,000	45,480	60,762		-	21	45,480	60,783	106,263		-908	105,355	5/27/14
Midtown East, NY

(1) Costs capitalized subsequent to acquisition include reductions of asset value due to impairment.







			Initial Costs			Costs Capitalized Subsequent to Acquisition		Gross Amounts at which Carrried at Close of Period				Accumulated Depreciation	Net Book Value

Description		Encumbrances	Land	Buildings & Improvements		Land	Buildings & Improvements	Land	Buildings & Improvements	Total		Buildings & Improvements*	Land, Buildings & Improvements	Date of Acquisition
Parrot Key Hotel,			57,889	33,959		-	54	57,889	34,014	91,903		-555	91,348	5/7/14
Key West, FL
Winter Haven Hotel,			5,400	18,147		-	110	5,400	18,258	23,658		-477	23,181	12/20/13
Miami Beach, FL
Blue Moon Hotel,			4,874	20,354		-	127	4,873	20,482	25,354		-498	24,856	12/20/13
Miami Beach, FL
Total Investment in Real Estate	$	-563,079	439,540	1,312,189	$	-	112,653	439,540	1,424,842	1,864,382	$	($189,889)	1,674,493

*Assets are depreciated over a 7 to 40 year life, upon which the latest income statement is computed

The aggregate cost of land, buildings and improvements for Federal income tax purposes for the years ended December 31, 2014, 2013 and 2012 is approximately $1,836,861, $1,575,555, and $1,278,318 respectively.

Depreciation is computed for buildings and improvements using a useful life for these assets of 7 to 40 years.

See Accompanying Report of Independent Registered Public Accounting Firm








			2014			2013			2012
Reconciliation of Real Estate
Balance at beginning of year		$	1,629,312		$	1,520,151		$	1,481,433
Additions during the year			333,889			275,032			167,916
Dispositions/Deconsolidation of consolidated joint venture during the year			-98,819			-156,504			-127,992
Changes/Impairments in Assets Held for Sale			-			-9,367			-1,206
Total Real Estate		$	1,864,382		$	1,629,312		$	1,520,151

Reconciliation of Accumulated Depreciation
Balance at beginning of year		$	162,189		$	150,353		$	139,057
Depreciation for year			43,218			39,771			35,597
Changes/Impairments in Assets Held for Sale			-			51			-
Accumulated depreciation on assets sold			-15,518			-27,986			-24,301
Balance at the end of year		$	189,889		$	162,189		$	150,353

Organization_And_Summary_Of_Si1

Organization And Summary Of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2014

Organization And Summary Of Significant Accounting Policies [Abstract]

Collaborative Arrangement, Accounting Policy

The Partnership owns a taxable REIT subsidiary (“TRS”), 44 New England Management Company (“44 New England” or “TRS Lessee”), which leases certain of the Company’s hotels.

Joint Venture

Ownership

Property

Location

Lessee/Sublessee

Unconsolidated Joint Ventures

Mystic Partners, LLC

66.70%

Marriott

Mystic, CT

Mystic Partners Leaseco, LLC

8.80%

Hilton

Hartford, CT

Mystic Partners Leaseco, LLC

15.00%

Marriott

Hartford, CT

Mystic Partners Leaseco, LLC

SB Partners, LLC

50.00%

Holiday Inn Express

South Boston, MA

South Bay Sandeep, LLC

Hiren Boston, LLC

50.00%

Courtyard

South Boston, MA

South Bay Boston, LLC

Principles Of Consolidation And Presentation

Principles of Consolidation and Presentation

NOTE 1 – ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Use Of Estimates

Use of Estimates

Investment In Hotel Properties

Investment in Hotel Properties

Building and Improvements 7 to 40 Years

Furniture, Fixtures and Equipment 2 to 7 Years

NOTE 1 – ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Acquisition-related cost, such as due diligence, legal and accounting fees, are not capitalized or applied in determining the fair value of the above acquired assets.

Investment In Unconsolidated Joint Ventures

Investment in Unconsolidated Joint Ventures

Cash And Cash Equivalents

Cash and Cash Equivalents

Cash and cash equivalents represent cash on hand and in banks plus short-term investments with an initial maturity of three months or less when purchased.

Escrow Deposits

Hotel Accounts Receivable

NOTE 1 – ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Deferred Financing Costs

Deferred financing costs are recorded at cost and amortized over the terms of the related indebtedness using the effective interest method.

Due From/To Related Parties

Due from/to Related Parties

Intangible Assets

Intangible Assets and Liabilities

Development Project Capitalization

Noncontrolling Interest

NOTE 1 – ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Shareholders' Equity

Shareholders’ Equity

Terms of the Series B and Series C Preferred Shares outstanding at December 31, 2014 and 2013 are summarized as follows:

Dividend Per Share

Shares Outstanding

Year Ended December 31,

Series

31-Dec-14

31-Dec-13

Aggregate Liquidation Preference

Distribution Rate

2014

2013

Series B

4,600,000

115,000

8.000%

2.0000

Series C

3,000,000

75,000

6.875%

1.7188

1.4753

Total

7,600,000

NOTE 1 – ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Stock Based Compensation

Derivatives And Hedging

Derivatives and Hedging

Revenue Recognition

Income Taxes

NOTE 1 – ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Income Taxes

Reclassification

Certain amounts in the prior year financial statements have been reclassified to conform to the current year presentation

Recent Accounting Pronouncements

New Accounting Pronouncements

Organization_And_Summary_Of_Si2

Organization And Summary Of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2014

Organization And Summary Of Significant Accounting Policies [Abstract]

Joint Venture Properties

Joint Venture

Ownership

Property

Location

Lessee/Sublessee

Unconsolidated Joint Ventures

Mystic Partners, LLC

66.70%

Marriott

Mystic, CT

Mystic Partners Leaseco, LLC

8.80%

Hilton

Hartford, CT

Mystic Partners Leaseco, LLC

15.00%

Marriott

Hartford, CT

Mystic Partners Leaseco, LLC

SB Partners, LLC

50.00%

Holiday Inn Express

South Boston, MA

South Bay Sandeep, LLC

Hiren Boston, LLC

50.00%

Courtyard

South Boston, MA

South Bay Boston, LLC

Schedule Of Major Asset Depreciation

Building and Improvements 7 to 40 Years

Furniture, Fixtures and Equipment 2 to 7 Years

Schedule Of Preferred Stock

Dividend Per Share

Shares Outstanding

Year Ended December 31,

Series

31-Dec-14

31-Dec-13

Aggregate Liquidation Preference

Distribution Rate

2014

2013

Series B

4,600,000

115,000

8.000%

2.0000

Series C

3,000,000

75,000

6.875%

1.7188

1.4753

Total

7,600,000

Investment_In_Hotel_Properties1

Investment In Hotel Properties (Tables)	12 Months Ended
Investment In Hotel Properties (Tables)	Dec. 31, 2014
Investment In Hotel Properties

				31-Dec-14			31-Dec-13

	Land		$	439,540		$	339,027
	Buildings and Improvements			1,424,842			1,222,639
	Furniture, Fixtures and Equipment			203,275			171,116
	Construction in Progress			-			63,168
				2,067,657			1,795,950

	Less Accumulated Depreciation			-322,174			-260,115

	Total Investment in Hotel Properties		$	1,745,483		$	1,535,835


Condensed Pro Forma Financial Data

			Year Ended December 31,
			2014			2013
	Pro Forma Total Revenues		$	425,029		$	376,767

	Pro Forma Income from Continuing Operations		$	72,864		$	27,859
	(Loss) from Discontinued Operations			-1,665			29,195
	Pro Forma Net Income			71,199			57,054
	Income (Loss) Allocated to Noncontrolling Interest			-1,016			-335
	Preferred Distributions			-14,356			-14,611
	Extinguishment of Issuance Costs Upon Redemption of Series A Preferred Shares			-			-2,250
	Pro Forma Net Income (Loss) Applicable to Common Shareholders		$	55,827		$	39,858

	Pro Forma Income Applicable to Common Shareholders per Common Share
	Basic		$	0.28		$	0.20
	Diluted		$	0.28		$	0.20

	Weighted Average Common Shares Outstanding
	Basic			199,109,209			198,390,450
	Diluted			201,197,310			201,918,177


Schedule Of Capitalized Expenditures Related To Hotel Development Projects And Renovations
				Year Ended December 31,
				2014			2013			2012

	Property Tax			$	223		$	388		$	296
	Interest Expense				458			1,320			1,542
	Utilities				73			3			9
	Total			$	754		$	1,711		$	1,847


Hilton Garden Inn 52nd Street, New York, NY [Member]
Wholly Owned Hotel Properties Acquired

	Hotel		Initial Purchase Price			Interest and Late Fees on Development Loan			Non-Cash Fair Market Value Gain on Acquisition			Other		Fair Market Value At Acquisition		Franchise Fees and Loan Costs		Asset Value Upon Acquisition
	Hilton Garden Inn 52nd Street,	$	84,000		$	12,494		$	13,594		$	1,074	$	111,162	$	1,123	$	112,285
	New York, NY	$	84,000		$	12,494		$	13,594		$	1,074	$	111,162	$	1,123	$	112,285


Aquisitions In 2014 [Member]
Wholly Owned Hotel Properties Acquired

	Hotel		Acquisition Date			Land			Buildings and Improvements			Furniture Fixtures and Equipment		Ground Lease Intangible		Franchise Fees and Loan Costs		Total Purchase Price		Assumption of Debt
	Hotel Milo,		2/28/14		$	-		$	55,080		$	805	$	-14,230	$	273	$	41,928	$	24,924
	Santa Barbara, CA		2/28/14		$	-		$	55,080		$	805	$	-14,230	$	273	$	41,928	$	24,924
	Parrot Key Resort,		5/7/14			57,889			33,959			8,152		-		-		100,000		-
	Key West, FL		5/7/14			57,889			33,959			8,152		-		-		100,000		-
	Hilton Garden Inn 52nd Street,		5/27/14			45,480			60,762			4,920		-		1,123		112,285		-
	New York, NY		5/27/14			45,480			60,762			4,920		-		1,123		112,285		-
	TOTAL				$	103,369		$	149,801		$	13,877	$	-14,230	$	1,396	$	254,213	$	24,924


Results Of Operations For Hotels Acquired With 100% Interest

			Year Ended December 31,
			2014
	Hotel			Revenue			Net
	Hotel			Revenue			Income
	Hotel Milo, Santa Barbara, CA		$	8,655		$	668
	Parrot Key Resort, Key West, FL			9,145			2,978
	Hilton Garden Inn 52nd Street, New York, NY			10,439			2,573

	Total		$	28,239		$	6,219


Aquisitions In 2013 [Member]
Wholly Owned Hotel Properties Acquired	Hotel		Acquisition Date			Land			Buildings and Improvements			Furniture Fixtures and Equipment		Franchise Fees and Loan Costs		Total Purchase Price
	Hyatt Union Square,		4/9/13		$	32,940		$	79,300		$	9,760	$	1,945	$	123,945
	New York, NY*		4/9/13		$	32,940		$	79,300		$	9,760	$	1,945	$	123,945
	Courtyard by Marriott,		5/30/13			15,656			51,674			3,671		183		71,184
	San Diego, CA		5/30/13			15,656			51,674			3,671		183		71,184
	Residence Inn,		6/12/13			4,146			17,456			218		75		21,895
	Coconut Grove, FL		6/12/13			4,146			17,456			218		75		21,895
	Blue Moon,		12/20/13			4,874			20,354			1,125		-		26,353
	Miami Beach, FL		12/20/13			4,874			20,354			1,125		-		26,353
	Winter Haven,		12/20/13			5,400			18,147			1,050		-		24,597
	Miami Beach, FL		12/20/13			5,400			18,147			1,050		-		24,597

	Total				$	63,016		$	186,931		$	15,824	$	2,203	$	267,974


	NOTE 2 – INVESTMENT IN HOTEL PROPERTIES (CONTINUED)

	*On April 9, 2013, we completed the acquisition of the Hyatt Union Square hotel in New York, NY from Risingsam Union Square LLC. Consideration given in exchange for the property included $36,000 paid in cash to the seller and our cancellation of a development loan receivable in the original principal amount of $10,000 and $3,303 of accrued interest on the loan. In addition, we paid off the existing construction financing and entered into a new mortgage loan of $55,000. We recognized a net gain of approximately $12,108 on the purchase of the Hyatt Union Square hotel as the fair value of the assets acquired less any liabilities assumed exceeded the consideration transferred.

Results Of Operations For Hotels Acquired With 100% Interest

				Year Ended December 31,
				2013
	Hotel				Revenue			Net
	Hotel				Revenue			(Loss) Income
	Hyatt Union Square, New York, NY			$	11,272		$	-1,466
	Courtyard by Marriott, San Diego, CA				8,350			1,914
	Residence Inn, Coconut Grove, FL				2,889			713
	Blue Moon, Miami Beach, FL				175			111
	Winter Haven, Miami Beach, FL				203			140

	Total			$	22,889		$	1,412

Investment_In_Unconsolidated_J1

Investment In Unconsolidated Joint Ventures (Tables)	12 Months Ended
Investment In Unconsolidated Joint Ventures (Tables)	Dec. 31, 2014
Investment In Unconsolidated Joint Ventures [Abstract]
Investment In Unconsolidated Joint Ventures

					Percent		Preferred		December 31,		December 31,
	Joint Venture		Hotel Properties		Owned		Return		2014		2013

	SB Partners, LLC		Holiday Inn Express, South Boston, MA		50.0%		N/A	$	913	$	1,057
	Hiren Boston, LLC		Courtyard by Marriott, South Boston, MA		50.0%		N/A		4,680		4,777
	Mystic Partners, LLC		Hilton and Marriott branded hotels in CT		8.8%-66.7%		8.5% non-cumulative		5,556		6,210
								$	11,150	$	12,044


Income Or Loss From Unconsolidated Joint Ventures


			Year Ended December 31,
				2014			2013		2012
	SB Partners, LLC		$	407		$	264	$	85
	Hiren Boston, LLC			603			113		230
	Mystic Partners, LLC			-317			-399		-433
	Metro 29th Street Associates, LLC			-			-		-114
	Income (Loss) from Unconsolidated Joint Venture Investments			693			-22		-232
	Impairment from Unconsolidated Joint Ventures			-			-1,813		-
	Loss from Remeasurement of Investment in Unconsolidated Joint Ventures			-			-		-1,892
	Income (Loss) from Unconsolidated Joint Venture Investments		$	693		$	-1,835	$	-2,124


Summary Financial Information Related To Unconsolidated Joint Ventures

	Balance Sheets
				December 31,			December 31,
				2014			2013
	Assets
	Investment in Hotel Properties, Net		$	106,430		$	114,221
	Other Assets			19,032			19,146
	Total Assets		$	125,462		$	133,367

	Liabilities and Equity
	Mortgages and Notes Payable		$	115,446		$	112,654
	Other Liabilities			30,832			37,464
	Equity:
	Hersha Hospitality Trust			23,060			26,230
	Joint Venture Partner(s)			-43,876			-42,981
	Total Equity			-20,816			-16,751

	Total Liabilities and Equity		$	125,462		$	133,367




	Statements of Operations

			Year Ended December 31,
				2014			2013		2012
	Room Revenue		$	59,135		$	58,273	$	62,058
	Other Revenue			21,725			22,606		22,306
	Operating Expenses			-54,831			-55,179		-57,131
	Lease Expense			-1,063			-996		-3,729
	Property Taxes and Insurance			-2,934			-3,034		-3,438
	General and Administrative			-5,783			-5,794		-5,904
	Depreciation and Amortization			-6,376			-6,697		-6,533
	Interest Expense			-11,995			-7,526		-7,650
	Debt Extinguishment and Gain on Debt Forgiveness			3,016			-		-
	Gain (Loss) allocated to Noncontrolling Interests			115			-179		-2,614

	Net Income from Continuing Operations			1,009			1,474		-2,635
	(Loss) Income from Discontinued Operations			-			-55		121
	Gain on Disposition of Hotel Properties			-			1,161		25,131

	Net Income		$	1,009		$	2,580	$	22,617


Reconciliation Of Share In Unconsolidated Joint Ventures' Equity In Investment In Unconsolidated Joint Ventures


				December 31,			December 31,
				2014			2013
	Company's share of equity recorded on the joint ventures' financial statements		$	23,060		$	26,230
	Adjustment to reconcile the Company's share of equity recorded on the joint ventures' financial statements to our investment in unconsolidated joint ventures(1)			-11,910			-14,186
	Investment in Unconsolidated Joint Ventures		$	11,150		$	12,044

	(1) Adjustment to reconcile the Company's share of equity recorded on the joint ventures' financial statements to our investment in unconsolidated joint ventures consists of the following:

		·		cumulative impairment of the Company’s investment in joint ventures not reflected on the joint ventures' financial statements;
		·		the Company’s basis in the investment in joint ventures not recorded on the joint ventures' financial statements; and
	accumulated amortization of the Company’s equity in joint ventures that reflects the Company’s portion of the excess of the fair value of joint ventures' assets on the date of our investment over the carrying value of the assets recorded on the joint ventures financial statements (this excess investment is amortized over the life of the properties, and the amortization is included in Income (Loss) from Unconsolidated Joint Venture Investments on the Company’s consolidated statement of operations).

Other_Assets_And_Deposits_On_H1

Other Assets And Deposits On Hotel Acquisitions (Tables)	12 Months Ended
Other Assets And Deposits On Hotel Acquisitions (Tables)	Dec. 31, 2014
Other Assets And Deposits On Hotel Acquisitions [Abstract]
Other Assets

		31-Dec-14		31-Dec-13

	Transaction Costs	$	-	$	115
	Investment in Statutory Trusts		1,548		1,548
	Prepaid Expenses		7,883		9,256
	Insurance Claims Receivable		64		1,706
	Deferred Tax Asset, Net of Valuation Allowance of $804		11,448		8,766
	Other		7,483		6,069
		$	28,426	$	27,460

Debt_Tables

Debt (Tables)	12 Months Ended
Debt (Tables)	Dec. 31, 2014
Debt [Abstract]
Aggregate Annual Principal Payments For Mortgages And Notes Payable
	Year Ending December 31,	Amount

	2015	$	69,063
	2016		273,824
	2017		204,219
	2018		1,564
	2019		294,892
	Thereafter		73,777
	Net Unamortized Premium		1,584
		$	918,923

Commitments_And_Contingencies_1

Commitments And Contingencies And Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2014
Commitments And Contingencies And Related Party Transactions [Abstract]
Future Minimum Lease Payments
	Year Ending December 31,		Amount

	2015	$	2,342
	2016		2,374
	2017		2,374
	2018		2,374
	2019		2,374
	Thereafter		229,028
		$	240,866

Fair_Value_Measurements_And_De1

Fair Value Measurements And Derivative Instruments (Tables)	12 Months Ended
Fair Value Measurements And Derivative Instruments (Tables)	Dec. 31, 2014
Fair Value Measurements And Derivative Instruments [Abstract]
Fair Value Of Interest Rate Swaps And Caps								Estimated Fair Value
	Hedged Debt	Type	Strike Rate	Index	Effective Date	Maturity Date	Notional Amount		31-Dec-14		31-Dec-13

	Courtyard, LA Westside, Culver City, LA	Swap	1.097%	1-Month LIBOR + 3.85%	29-Sep-11	29-Sep-15	$ 30,000	$	-174	$	-374
	Capitol Hill Hotel, Washington, DC	Swap	0.540%	1-Month LIBOR + 3.25%	1-Feb-12	1-Feb-15	26,639		-8		-88
	Hotel 373, New York, NY *	Cap	2.000%	1-Month LIBOR + 3.85%	24-May-12	1-Jun-15	18,356		-		1
	Courtyard, Miami, FL	Swap	0.820%	1-Month LIBOR + 3.50%	2-Jul-12	1-Jul-16	60,000		-218		-354
	Subordinated Notes Payable	Cap	2.000%	1-Month LIBOR + 3.00%	30-Jul-12	30-Jul-14	51,548		-		-
	Unsecured Term Loan	Swap	0.545%	1-Month LIBOR + 2.40%	5-Nov-12	5-Nov-16	100,000		272		430
	Unsecured Term Loan	Swap	0.600%	1-Month LIBOR + 2.40%	18-Dec-12	5-Nov-16	50,000		85		137
	Hyatt, Union Square, New York, NY	Cap	2.000%	1-Month LIBOR + 4.19%	9-Apr-13	9-Apr-16	55,000		9		76
	Duane Street Hotel, New York, NY	Swap	0.933%	1-Month LIBOR + 4.50%	1-Feb-14	1-Feb-17	9,352		-29		-
	Hilton Garden Inn 52nd Street, New York, NY	Cap	1.100%	1-Month LIBOR + 2.90%	27-May-14	1-Jun-15	45,000		-		-
	Hilton Garden Inn 52nd Street, New York, NY	Swap	1.152%	1-Month LIBOR + 2.90%	1-Jun-15	21-Feb-17	45,000		-149		-
								$	-212	$	-172

	*On April 30, 2014, we sold Hotel 373, New York, NY, and therefore, terminated the interest rate cap associated with the mortgage on this property. As a result of this termination, we expensed $55 in fees, which are included in the gain on disposition of hotel properties.

Share_Based_Payments_Tables

Share Based Payments (Tables)	12 Months Ended
Share Based Payments (Tables)	Dec. 31, 2014
Summary Of The LTIP Units Issued To Executive Officers							31-Dec-14
	Issuance Date	LTIP Units Issued	Vesting Period		Vesting Schedule		Units Vested			Unearned Compensation
	23-Dec-14
	(2013 Annual LTIP)	335,972	3 years		25%/year (1)		111,991		$	582
	23-Dec-14
	(2012 Annual LTIP)	389,524	3 years		25%/year (1)		194,761			309
	23-Dec-14
	(2011 Annual LTIP)	187,233	3 years		25%/year (1)		187,233			-
	23-Dec-14	1,035,595	5 years		33% Year 3, 4, 5 (2)		-			2,650
		1,948,324					493,985		$	3,541

	(1)As noted above, the vesting schedule for each of the Annual LTIP Plans remains intact with the conversion to LTIP Units.

	(2)On April 18, 2012, the Company entered into amended and restated employment agreements with the Company’s executive officers. To induce the executives to agree to the substantial reduction in benefits upon certain terminations following a change of control as described in the agreements, the Company awarded an aggregate of 1,035,595 restricted common shares to the executives pursuant to the 2012 Plan. None of these restricted common shares will vest prior to the third anniversary of the date of issuance. Thereafter, 33.3% of each award of restricted common shares will vest on each of the third, fourth and fifth anniversaries of the date of issuance. Vesting will accelerate upon a change of control or if the relevant executive’s employment with the Company were to terminate for any reason other than for cause (as defined in the agreements).

Summary Of Unvested Share Awards Issued To Nonemployees


										Shares Vested					Unearned Compensation
	Original Issuance Date	Shares Issued		Share Price on Date of Grant		Vesting Period		Vesting Schedule		31-Dec-14		31-Dec-13			31-Dec-14			31-Dec-13
	24-Mar-14	30,000	$	5.69		2 years		50% /year		15,000		-		$	81		$	-
	1-Feb-13	30,000	$	5.41		2 years		50% /year		30,000		14,999			-			81
	Total	60,000								45,000		14,999		$	81		$	81


2011, 2012 and 2013 Annual LTIP [Member]
Summary Of Unvested Share Awards Issued To Executives										Shares Vested (2)				Unearned Compensation (2)
	Original Issuance Date	Shares Issued		Share Price on date of grant		Vesting Period		Vesting Schedule		23-Dec-14		31-Dec-13			31-Dec-14			31-Dec-13
	21-Mar-14
	(2013 Annual LTIP)	447,959	$	5.80		3 years		25%/year (1)		111,988		-		$	-		$	-
	20-Mar-13
	(2012 Annual LTIP)	779,045	$	5.95		3 years		25%/year (1)		389,520		389,520			-			1,039
	26-Mar-12
	(2011 Annual LTIP)	748,927	$	5.45		3 years		25%/year (1)		561,694		561,694			-			266
										1,063,202		951,214		$	-		$	1,305

	(1)25% of the issued shares vested immediately upon issuance. In general, the remaining shares vest 25% on the first through third anniversaries of the date of effective issuance (subject to continuous employment through the applicable vesting date).

	(2)All of the unvested shares issued as part of the Annual LTIP plans noted above were forfeited on December 23, 2014, and concurrently issued as LTIP Units. See below for more information.

Restricted Share Awards [Member]
Summary Of Unvested Share Awards Issued To Executives
										Shares Vested					Unearned Compensation
	Original Issuance Date	Shares Issued		Share Price on Date of Grant		Vesting Period		Vesting Schedule		31-Dec-14		31-Dec-13			31-Dec-14			31-Dec-13
	15-Jul-14	52,077		6.75		2 years		50% /year		6,126		-			177			-
	23-Jun-14	4,411		6.50		2 years		50% /year		-		-			20			-
	24-Mar-14	8,184		5.69		2 years		50% /year		4,091		-			10			-
	13-Feb-14	1,846		5.44		2 years		50% /year		923		-			2			-
	20-Sep-13	4,605		5.52		2-4 years		25-50% /year		4,605		-			-			19
	28-Jun-13	48,600		5.64		2-4 years		25-50% /year		22,895		-			69			199
	29-Jun-12	52,703		5.28		2-4 years		25-50% /year		44,967		22,480			36			110
	18-Apr-12	1,035,595		5.47		5 years		33% Year 3, 4, 5 (1)		-		-			-			3,746
	30-Jun-11	17,692		5.57		2-4 years		25-50% /year		13,804		9,919			8			28
	Total	1,225,713								97,411		32,399		$	322		$	4,102

	(1)As noted above, the unvested shares associated with this issuance were forfeited and immediately issued as LTIP Units on December 23, 2014. The historical information pertaining to the unvested shares before the conversion is shown this table.

Annual Retainer [Member]
Summary Of Unvested Share Awards Issued To Trustees

										Unearned Compensation
	Original Issuance Date	Shares Issued		Share Price on Date of Grant		Vesting Period		Vesting Schedule			31-Dec-14			31-Dec-13
	30-Dec-14	12,860	$	7.25		1 year		100%		$	93		$	-
	27-Dec-13	39,133		5.63		1 year		100%			-			220
	Total	51,993									93			220


Multi-year LTIP Trustee [Member]
Summary Of Unvested Share Awards Issued To Trustees
								Shares Vested				Unearned Compensation
	Original Issuance Date	Shares Issued		Vesting Period		Vesting Schedule		31-Dec-14		31-Dec-13			31-Dec-14			31-Dec-13
	30-Dec-14	10,000		3 years		33% /year		-		-		$	73		$	-
	27-Dec-13	12,000		3 years		33% /year		5,335		-			38			67
	28-Dec-12	12,000		3 years		33% /year		8,670		4,002			16			39
	5-Jun-12	10,800		3 years		33% /year		10,800		7,200			-			18
								24,805		11,202		$	127		$	124

Earnings_Per_Share_Tables

Earnings Per Share (Tables)	12 Months Ended
Earnings Per Share (Tables)	Dec. 31, 2014
Earnings Per Share [Abstract]
Reconciliation Of Earnings Per Share


		For the Year Ended December 31,
			2014			2013		2012
	NUMERATOR:
	Basic and Diluted*
	Income from Continuing Operations	$	69,936		$	20,753	$	7,498
	(Income) Loss from Continuing Operations allocated to Noncontrolling Interests		-1,069			658		703
	Distributions to Preferred Shareholders		-14,356			-14,611		-14,000
	Dividends Paid on Unvested Restricted Shares and LTIP Units		-515			-804		-459
	Extinguishment of Issuance Costs Upon Redemption of Series A Preferred Stock		-			-2,250		-
	Income (Loss) from Continuing Operations attributable to Common Shareholders		53,996			3,746		-6,258

	Discontinued Operations
	(Loss) Income from Discontinued Operations		-1,665			29,195		14,720
	Loss (Income) from Discontinued Operations allocated to Noncontrolling Interests		53			-993		-545
	(Loss) from Discontinued Operations attributable to Common Shareholders		-1,612			28,202		14,175

	Net Income attributable to Common Shareholders	$	52,384		$	31,948	$	7,917

	DENOMINATOR:
	Weighted average number of common shares - basic		199,109,209			198,390,450		187,415,270
	Effect of dilutive securities:
	Restricted Stock Awards (unvested)		1,358,603			2,384,165		-	*
	Contingently Issued Shares		729,498			1,143,562		-	*
	Weighted average number of common shares - diluted		201,197,310			201,918,177		187,415,270


	*Income (loss) allocated to noncontrolling interest in Hersha Hospitality Limited Partnership has been excluded from the numerator and units of limited partnership interest in Hersha Hospitality Limited Partnership have been omitted from the denominator for the purpose of computing diluted earnings per share since the effect of including these amounts 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) from continuing operations applicable to common shareholders.

Potentially Dilutive Shares Excluded From The Denominator For The Purpose Of Computing Diluted Earnings Per Share

		For the Year Ended December 31,
		2014		2013		2012

	Common Units	6,909,649		6,968,035		7,208,123
	LTIP Units	32,711		-		-
	Unvested Stock Awards Outstanding	-		-		433,097
	Contingently Issuable Share Awards	-		-		2,778,545
	Options to Acquire Common Shares Outstanding	-		-		275,580
	Total potentially dilutive securities	6,942,360		6,968,035		10,695,345
	excluded from the denominator	6,942,360		6,968,035		10,695,345

Cash_Flow_Disclosures_And_Non_1

Cash Flow Disclosures And Non Cash Investing And Financing Activities (Tables)	12 Months Ended
	Dec. 31, 2014
Cash Flow Disclosures And Non Cash Investing And Financing Activities [Abstract]
Non-cash Investing And Financing Activities

		2014		2013		2012
	Common Shares issued as part of the Dividend Reinvestment Plan	$	50	$	38	$	24
	Acquisition of hotel properties:
	Debt assumed		24,924		-		85,913
	Development loan accrued interest revenue receivable paid in-kind by adding balance to development loan principal		-		-		678
	Settlement of development loan receivable principal and accrued interest revenue receivable		22,494		13,303		-
	Disposition of hotel properties:
	Investment in hotel properties, net, conveyed to mortgage lender		-		-		1,938
	Debt conveyed to mortgage lender		-		-		2,940
	Debt assumed by purchaser		45,710		-		54,217
	Conversion of Common Units to Common Shares		72		106		572
	Reallocation of noncontrolling interest		-		-		-966
	Accrued payables for fixed assets placed into service		1,312		2,572		-

Hotel_Dispositions_Tables

Hotel Dispositions (Tables)	12 Months Ended
Hotel Dispositions (Tables)	Dec. 31, 2014
Hotel Dispositions [Abstract]
Real Estate Assets Sold

	Hotel		Acquisition		Disposition			Consideration			Gain on
	Hotel		Date		Date			Consideration			Disposition

	Hotel 373		Jun-07		Apr-14		$	37,000		$	7,195
	2014 Total									$	7,195	-1

	Non-Core Portfolio II (12)		January 1999 - July 2010		Dec-13		$	158,600		$	31,559	-2
	Holiday Inn Express, Camp Springs, MD		Jun-08		Sep-13			8,500			120	-3
	Comfort Inn, Harrisburg, PA		Jan-99		Jun-13			3,700			442
	2013 Total										32,121

	Non-Core Hotel Portfolio (18)		January 1999 - July 2007		February 2012 & May 2012		$	155,000		$	4,978	-4
	Land Parcel, Eighth Ave, Manhattan, NY		Jun-06		Apr-12			19,250			5,037
	Comfort Inn, North Dartmouth, MA		May-06		Mar-12			-			1,216	-5
	2012 Total									$	11,231

		-1		The operations from this property included (loss) income of ($137), $858, $546 for the years ended December 31, 2014, 2013, and 2012, respectively.

		-2		In September 2013, our Board of Trustees authorized management of the Company to sell this portfolio. On September 20, 2013, the Company entered into a purchase and sale agreement to dispose of a portfolio of 16 non-core hotel properties, for an aggregate purchase price of approximately $217,000. The 16 non-core hotel properties in the portfolio were acquired by the Company between 1999 and 2010. We recorded an impairment loss of approximately $6,591 for those assets for which the anticipated net proceeds do not exceed the carrying value.

	On December 20, 2013, the Company closed on the sale of 12 of these non-core hotel properties. As a result of entering into these purchase and sale agreements for the 16 non-core assets mentioned above, the operating results for the consolidated assets were reclassified to discontinued operations in the statement of operations for the years ended December 31, 2014, 2013, and 2012. The 12 assets were sold for a total sales price of $158,600, reduced the Company’s consolidated mortgage debt by $33,044 and generated a gain on sale of approximately $31,559. In February 2014, the remaining 4 assets were sold for a total sales price of $58,400 and reduced the Company’s consolidated mortgage debt by $45,710. We recorded an impairment loss of approximately $1,800 for those assets for which the anticipated net proceeds did not exceed the carrying value.

		-3		We recorded an impairment loss for this property of approximately $3,723 as the net proceeds did not exceed the carrying value.



	NOTE 11 – HOTEL DISPOSITIONS (CONTINUED)

		-4		On February 23, 2012, the Company closed on the sale of 14 non-core hotel properties, including three hotel properties owned in part by the Company through an unconsolidated joint venture, and closed on the remaining four properties, on May 8, 2012, including one hotel property owned in part by the Company through an unconsolidated joint venture. The operating results for the consolidated assets were reclassified to discontinued operations in the statement of operations for the year ended December 31, 2012. The 18 assets were sold for a total sales price of $155,000, reduced the Company’s consolidated mortgage debt by $61,298 and generated a gain on sale of approximately $4,978.

		-5		On March 30, 2012, we transferred the title to the Comfort Inn, located in North Dartmouth, to the lender. Previously, we had ceased operations at this property on March 31, 2011. The operating results were reclassified to discontinued operations in the statements of operations for the year ended December 31, 2012. The transfer of the title resulted in a gain of approximately $1,216, since the outstanding mortgage loan payable exceeded the net book value of the property.

Assets Held For Sale

			31-Dec-13

	Land		$	9,517
	Buildings and Improvements			58,129
	Furniture, Fixtures and Equipment			9,198
				76,844

	Less: Accumulated Depreciation & Amortization			-20,261

	Assets Held for Sale		$	56,583

	Liabilities Related to Assets Held for Sale		$	45,835


Components Of Discontinued Operations
			Year Ended December 31,
				2014			2013			2012
	Revenue:
	Hotel Operating Revenues		$	1,940		$	58,045		$	63,465
	Other Revenue			-			-			11
	Total Revenues			1,940			58,045			63,476
	Expenses:
	Hotel Operating Expenses			1,151			35,158			39,046
	Gain on Insurance Settlements			74			-			-
	Hotel Ground Rent			-			-			72
	Real Estate and Personal Property Taxes and Property Insurance			91			3,316			3,636
	General and Administrative			4			36			27
	Acquisition and Termination Transaction Costs			-			-			8
	Depreciation and Amortization			1			7,050			9,148
	Interest Expense			354			4,863			7,872
	Other Expense			-			44			10
	Loss on Debt Extinguishment			-			-			168
	Income Tax Expense			2			190			-
	Total Expenses			1,677			50,657			59,987

	Income from Discontinued Operations		$	263		$	7,388		$	3,489

Income_Taxes_Tables

Income Taxes (Tables)	12 Months Ended
Income Taxes (Tables)	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Effective Income Tax Reconciliation
			For the year ended December 31,
			2014			2013		2012
	Statutory federal income tax provision	$	22,865		$	5,152	$	1,409
	Adjustment for nontaxable loss		-25,274			-7,472		-623
	State income taxes, net of federal income tax effect		-367			-1,317		151
	Recognition of deferred tax assets		91			-1,963		-
	Changes in valuation allowance		-			-		-4,292

	Total income tax benefit	$	-2,685		$	-5,600	$	-3,355



Components Of The Company's Income Tax Expense (Benefit)
			For the year ended December 31,
			2014			2013		2012
	Income tax expense (benefit):
	Current:
	Federal	$	-		$	-	$	-
	State		-			-		229
	Deferred:
	Federal	$	-2,130			-3,604		-3,584
	State		-555			-1,996		-
	Total		-2,685		$	-5,600	$	-3,355

	Income tax expense (benefit):
	From continuing operations	$	-2,685			-5,600		-3,355
	From discontinued operations		2			190		-
	Total		-2,683		$	-5,410	$	-3,355


Components Of Consolidated TRS's Deferred Tax Assets
			As of December 31,
			2014			2013
	Deferred tax assets:
	Net operating loss carryforwards	$	11,387		$	8,605
	Accrued expenses and other		616			685
	Tax credit carryforwards		481			280
	Total gross deferred tax assets		12,484			9,570
	Valuation allowance		-804			-804
	Total net deferred tax assets	$	11,680		$	8,766
	Deferred tax liabilities:
	Depreciation and amortization		232			-
	Total Net deferred tax assets (liabilities)	$	11,448		$	8,766


Taxability Of Common And Preferred Share Distributions
		2014		2013		2012
	Preferred Shares - 8% Series A
	Ordinary income	N/A		100.00%		100.00%
	Return of Capital	N/A		0.00%		0.00%
	Capital Gain Distribution	N/A		0.00%		0.00%
	Preferred Shares - 8% Series B
	Ordinary income	100.00%		100.00%		100.00%
	Return of Capital	0.00%		0.00%		0.00%
	Capital Gain Distribution	0.00%		0.00%		0.00%
	Preferred Shares - 6.875% Series C
	Ordinary income	100.00%		100.00%		N/A
	Return of Capital	0.00%		0.00%		N/A
	Capital Gain Distribution	0.00%		0.00%		N/A
	Common Shares - Class A
	Ordinary income	76.34%		45.15%		1.28%
	Return of Capital	23.66%		54.85%		98.72%
	Capital Gain Distribution	0.00%		0.00%		0.00%

Selected_Quarterly_Financial_D1

Selected Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
Selected Quarterly Financial Data (Unaudited) (Tables)	Dec. 31, 2014
Selected Quarterly Financial Information [Abstract]
Selected Quarterly Financial Data (Unaudited)
		Year Ended December 31, 2014
		First Quarter		Second Quarter		Third Quarter		Fourth Quarter
	Total Revenues	$	80,348	$	111,830	$	113,048	$	112,985
	Total Expenses		85,203		53,593		106,625		106,232
	(Loss) Income from Unconsolidated Joint Ventures		-420		419		607		87
	(Loss) Income from Continuing Operations		-5,275		58,656		7,030		6,840

	Income Tax Benefit		108		-1		699		1,879
	Income (Loss) from Discontinued Operations (including Gain on Disposition of Discontinued Assets)*		-1,346		-69		-142		-108
	Net (Loss) Income		-6,513		58,586		7,587		8,611

	(Loss) Income Allocated to Noncontrolling Interests in Continuing Operations		-507		1,655		-49		-83
	Issuance Costs of Redeemed Preferred Stock		-		-		-		-
	Preferred Distributions		3,589		3,589		3,589		3,589
	Net (Loss) Income applicable to Common Shareholders	$	-9,595	$	53,342	$	4,047	$	5,105
	Basic and diluted earnings per share:
	(Loss) Income from continuing operations applicable to common shareholders	$	-0.04	$	0.27	$	0.02	$	0.03
	Discontinued Operations		-0.01		0.00		0.00		0.00
	Net (Loss) Income applicable to Common Shareholders	$	-0.05	$	0.27	$	0.02	$	0.03
	Weighted Average Common Shares Outstanding
	Basic		200,743,751		198,494,473		198,597,517		198,629,945
	Diluted		200,743,751		200,213,554		200,621,986		200,779,472

		Year Ended December 31, 2013
		First Quarter		Second Quarter		Third Quarter		Fourth Quarter
	Total Revenues	$	65,878	$	91,068	$	90,741	$	92,510
	Total Expenses		73,174		71,703		87,512		90,820
	(Loss) Income from Unconsolidated Joint Ventures		-396		148		227		-1,814
	(Loss) Income from Continuing Operations		-7,692		19,513		3,456		-124

	Income Tax Benefit		1,129		-1,222		2,375		3,318
	(Loss) Income from Discontinued Operations (including Gain on Disposition of Discontinued Assets)		-1,113		-206		-3,532		34,046
	Net (Loss) Income		-7,676		18,085		2,299		37,240

	(Loss) Income Allocated to Noncontrolling Interests in Continuing Operations		-673		210		-164		962
	Extinguishment of Issuance Costs Upon Redemption of Series A Preferred Shares		2,250		-		-		-
	Preferred Distributions		3,844		3,589		3,589		3,589
	Net (Loss) Income applicable to Common Shareholders	$	-13,097	$	14,286	$	-1,126	$	32,689
	Basic and diluted earnings per share:
	(Loss) Income from continuing operations applicable to common shareholders	$	-0.07	$	0.08	$	0.01	$	0.00
	Discontinued Operations		0.00		-0.01		-0.02		0.16
	Net Loss (Income) applicable to Common Shareholders	$	-0.07	$	0.07	$	-0.01	$	0.16
	Weighted Average Common Shares Outstanding
	Basic		197,029,017		198,633,051		198,878,496		198,944,277
	Diluted		197,029,017		201,201,337		201,644,633		198,944,277

	*Effective January 1, 2014, we early adopted ASU Update No. 2014-08 concerning the classification and reporting of discontinued operations. As such, this line item for quarterly results presented for 2014 will not be comparable

Organization_And_Summary_Of_Si3

Organization And Summary Of Significant Accounting Policies (Narrative) (Details) (USD $)	0 Months Ended	1 Months Ended	12 Months Ended			1 Months Ended	0 Months Ended		12 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 08, 2012	Feb. 28, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Feb. 25, 2013	Feb. 13, 2012	Feb. 13, 2012	Dec. 31, 2009	Mar. 28, 2013	Aug. 04, 2009
			segment
			property
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Various subsidiary limited partnership interest (in hundredths)			99.00%
General partnership interest (in hundredths)			1.00%
Number of hotel properties (in hotels)			46
Our maximum exposure to losses due to our investment in Mystic Partners, LLC			$5,556
Number of hotels in each reporting sements			1
Related party dues, settlement, period			1 year
Weighted average ownership percentage in the Partnership (in hundredths)			95.80%	96.70%	96.50%
Noncontrolling interests in Nonredeemable Common Units			29,082	29,523
Number of shares authorized to repurchase		100,000	75,000		75,000
Repurchase of Common Shares (in shares)			-2,626,854
Repurchase of Common Shares			15,418
Common shares sold (in shares)	24,000,000
Proceeds from issuance of preferred stock, net				72,370
Preferred Stock, Redemption Price (in dollars per share)										$25.41
Net proceeds	128,558
Offering price per share (in dollars per share)											2.5
Option terms			We also granted REIG the option to buy up to an additional 5,700,000 common shares at a price of $3.00 per share, which was exercisable through August 4, 2014. On February 13, 2012, pursuant to the terms of the original option, we called in and canceled the option granted to REIG in exchange for the issuance of 2,521,561 common shares with an aggregate value equal to $13,566. This amount equals the volume weighted average price per common share for the 20 trading days prior to the exercise of the option, less the $3.00 option price, multiplied by the 5,700,000 common shares remaining under the option.
Restricted Shares Forfeiture (in shares)			1,948,324
Distribution of REIT taxable income to shareholders' (in hundredths)			90.00%
Recognize a tax benefit from an uncertain tax position (in hundredths)			50.00%
Noncontrolling Interests Common Units [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Nonredeemable common units outstanding (in shares)			8,797,736
Fair market value of nonredeemable common units			61,848
Series A Preferred Stock [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Preferred stock, dividend rate, percentage (in hundredths)			8.00%
Preferred Stock, Redemption Price (in dollars per share)										$25
Series B Preferred [Member}
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Preferred stock, dividend rate, percentage (in hundredths)			8.00%
Series C Preferred [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Preferred stock, dividend rate, percentage (in hundredths)			6.88%
Common shares sold (in shares)						3,000,000
Preferred Shares - Par Value (in dollars per share)			$0.01
Proceeds from issuance of preferred stock, net						72,370
Preferred shares, liquidation preference (in dollars per share)			$25
Joint Venture [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Number of hotel properties (in hotels)			5
Mystic Partners, LLC [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Number of hotel properties (in hotels)			3
Option to Real Estate Investment Group L.P. [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Net proceeds								13,566
Option granted to REIG to buy additional shares (in shares)											5,700,000
Option price (in dollars per share)											3
Common shares issued to REIG (in shares)							2,521,561	2,521,561
Consecutive trading days above threshold price for canceling option to purchase common shares (in days)							20 days
Private Placement Real Estate Investment Group L.P. [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Net proceeds									$14,250

Organization_And_Summary_Of_Si4

Organization And Summary Of Significant Accounting Policies (Joint Venture Properties) (Details)	12 Months Ended
	Dec. 31, 2014
Mystic Partners, LLC [Member] \| Marriott Mystic, CT [Member] \| Mystic Partners Leaseco, LLC [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Ownership percentage (in hundredths)	66.70%
Mystic Partners, LLC [Member] \| Hilton, Hartford, CT [Member] \| Mystic Partners Leaseco, LLC [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Ownership percentage (in hundredths)	8.80%
Mystic Partners, LLC [Member] \| Marriott, Hartford, CT [Member] \| Mystic Partners Leaseco, LLC [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Ownership percentage (in hundredths)	15.00%
SB Partners, LLC [Member] \| Holiday Inn Express South Boston, MA [Member] \| South Bay Sandeep, LLC [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Ownership percentage (in hundredths)	50.00%
Hiren Boston, LLC [Member] \| Courtyard South Boston, MA [Member] \| South Bay Boston, LLC [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Ownership percentage (in hundredths)	50.00%

Organization_And_Summary_Of_Si5

Organization And Summary Of Significant Accounting Policies (Schedule Of Major Asset Depreciation) (Details)	12 Months Ended
	Dec. 31, 2014
Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	7 years
Minimum [Member] \| Building and Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	7 years
Minimum [Member] \| Furniture, Fixtures And Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	2 years
Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	40 years
Maximum [Member] \| Building and Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	40 years
Maximum [Member] \| Furniture, Fixtures And Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	7 years

Organization_And_Summary_Of_Si6

Organization And Summary Of Significant Accounting Policies (Schedule Of Preferred Stock) (Details) (USD $)	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Class of Stock [Line Items]
Shares Outstanding	7,600,000	7,600,000
Series B Preferred Shares [Member]
Class of Stock [Line Items]
Shares Outstanding	4,600,000	4,600,000
Aggregate Liquidation Preference	$115,000
Distribution Rate	8.00%
Dividend Per Share	$2	$2
Series C Preferred Shares [Member]
Class of Stock [Line Items]
Shares Outstanding	3,000,000	3,000,000
Aggregate Liquidation Preference	$75,000
Distribution Rate	6.88%
Dividend Per Share	$1.72	$1.48

Investment_In_Hotel_Properties2

Investment In Hotel Properties (Narrative) (Details) (USD $)	12 Months Ended				1 Months Ended	0 Months Ended	1 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013		Dec. 31, 2012	Aug. 23, 2012	Apr. 09, 2013	Jul. 22, 2011	7-May-14	8-May-12
	Dec. 31, 2014	Dec. 31, 2013		Dec. 31, 2012	Aug. 23, 2012	Apr. 09, 2013	Jul. 22, 2011	7-May-14	property
Acquisitions [Abstract]
Depreciation expense	$68,418	$61,500		$55,956
Acquisition costs	2,178	855
Total Purchase Price	254,213	267,974
Gain on Hotel Acquisitions, Net	-12,667	-12,096
Gain Loss On Development Loan Impairment Recovery	22,494
Asset Development and Renovation [Abstract]
Investment in hotel properties	1,745,483	1,535,835
Insurance Recoveries	4,604	403
Hurricane Sandy [Member]
Asset Development and Renovation [Abstract]
Number of Real Estate Properties	2
Parrot Key Resort, Key West, FL [Member]
Acquisitions [Abstract]
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High	2,000
Business Combination, Contingent Consideration, Liability	2,000							0
Total Purchase Price	100,000
Revenue	9,145
Net Income (Loss)	2,978
Asset Development and Renovation [Abstract]
Acquisition Date	7-May-14
Hilton Garden Inn 52nd Street, New York, NY [Member]
Acquisitions [Abstract]
Total Purchase Price	112,285				84,000
Gain on Hotel Acquisitions, Net	13,594
Preopening exepenses	927
Development loan, principal amount	10,000
Business acquisition, cancellation of accrued interest receivable	12,494
Gain Loss On Development Loan Impairment Recovery	22,494
Mortgage loan	45,000
Revenue	10,439
Net Income (Loss)	2,573
Asset Development and Renovation [Abstract]
Acquisition Date	27-May-14
Business acquisition, cash paid	27,500
Hyatt Union Square, New York, NY [Member]
Acquisitions [Abstract]
Total Purchase Price		123,945	[1]
Development loan, principal amount						10,000
Business acquisition, cancellation of accrued interest receivable						3,303
Mortgage loan						55,000
Gain on hotel acquisition						12,108
Revenue	11,272
Net Income (Loss)	-1,466
Asset Development and Renovation [Abstract]
Acquisition Date		9-Apr-13	[1]
Business acquisition, cash paid						36,000
32 Pearl Street, New York, NY [Member]
Asset Development and Renovation [Abstract]
Acquisition Date							22-Jul-11
Business acquisition, cash paid							28,300
Development costs	9,564
Investment in hotel properties	37,864
Holiday Inn Express, New York, NY [Member] \| Hurricane Sandy [Member]
Asset Development and Renovation [Abstract]
Number of Real Estate Properties	1
Estimated impairment charge	1,586
Corresponding insurance claim	1,486
Hampton Inn, Pearl Street, New York, NY [Member] \| Hurricane Sandy [Member]
Asset Development and Renovation [Abstract]
Number of Real Estate Properties	1
Estimated impairment charge	1,997
Corresponding insurance claim	1,897
Aquisitions In 2014 [Member]
Acquisitions [Abstract]
Revenue	28,239
Net Income (Loss)	6,219
Aquisitions In 2013 [Member]
Acquisitions [Abstract]
Revenue	22,889
Net Income (Loss)	$1,412
Non-core Hotel Properties [Member]
Asset Development and Renovation [Abstract]
Number of Real Estate Properties				18					4

[1]	On April 9, 2013, we completed the acquisition of the Hyatt Union Square hotel in New York, NY from Risingsam Union Square LLC.B B Consideration given in exchange for the property included $36,000 paid in cash to the seller and our cancellation of a development loan receivable in the original principal amount of $10,000 and $3,303 of accrued interest on the loan. In addition, we paid off the existing construction financing and entered into a new mortgage loan of $55,000. We recognized a net gain of approximately $12,108 on the purchase of the Hyatt Union Square hotel as the fair value of the assets acquired less any liabilities assumed exceeded the consideration transferred.

Investment_In_Hotel_Properties3

Investment In Hotel Properties (Investment In Hotel Properties) (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Business Acquisition [Line Items]
Total investment in hotel properties, gross	$2,067,657	$1,795,950
Less accumulated depreciation	-322,174	-260,115
Total investment in hotel properties, net	1,745,483	1,535,835
Land [Member]
Business Acquisition [Line Items]
Total investment in hotel properties, gross	439,540	339,027
Building and Improvements [Member]
Business Acquisition [Line Items]
Total investment in hotel properties, gross	1,424,842	1,222,639
Furniture, Fixtures And Equipment [Member]
Business Acquisition [Line Items]
Total investment in hotel properties, gross	203,275	171,116
Construction In Progress [Member]
Business Acquisition [Line Items]
Total investment in hotel properties, gross		$63,168

Investment_In_Hotel_Properties4

Investment In Hotel Properties (Wholly Owned Hotel Properties Acquired) (Details) (USD $)	12 Months Ended			1 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013		Aug. 23, 2012
Business Acquisition [Line Items]
Total Purchase Price	$254,213	$267,974
Assumption of Debt	24,924
Franchise Fees Loan Costs And Leasehold Intangibles [Member]
Business Acquisition [Line Items]
Total Purchase Price	1,396	2,203
Land [Member]
Business Acquisition [Line Items]
Total Purchase Price	103,369	63,016
Building and Improvements [Member]
Business Acquisition [Line Items]
Total Purchase Price	149,801	186,931
Furniture, Fixtures And Equipment [Member]
Business Acquisition [Line Items]
Total Purchase Price	13,877	15,824
Ground Lease Intangible [Member]
Business Acquisition [Line Items]
Total Purchase Price	-14,230
Hotel Milo, Santa Barbara, California [Member]
Business Acquisition [Line Items]
Acquisition Date	28-Feb-14
Total Purchase Price	41,928
Assumption of Debt	24,924
Hotel Milo, Santa Barbara, California [Member] \| Franchise Fees Loan Costs And Leasehold Intangibles [Member]
Business Acquisition [Line Items]
Total Purchase Price	273
Hotel Milo, Santa Barbara, California [Member] \| Building and Improvements [Member]
Business Acquisition [Line Items]
Total Purchase Price	55,080
Hotel Milo, Santa Barbara, California [Member] \| Furniture, Fixtures And Equipment [Member]
Business Acquisition [Line Items]
Total Purchase Price	805
Hotel Milo, Santa Barbara, California [Member] \| Ground Lease Intangible [Member]
Business Acquisition [Line Items]
Total Purchase Price	-14,230
Parrot Key Resort, Key West, FL [Member]
Business Acquisition [Line Items]
Acquisition Date	7-May-14
Total Purchase Price	100,000
Parrot Key Resort, Key West, FL [Member] \| Land [Member]
Business Acquisition [Line Items]
Total Purchase Price	57,889
Parrot Key Resort, Key West, FL [Member] \| Building and Improvements [Member]
Business Acquisition [Line Items]
Total Purchase Price	33,959
Parrot Key Resort, Key West, FL [Member] \| Furniture, Fixtures And Equipment [Member]
Business Acquisition [Line Items]
Total Purchase Price	8,152
Hilton Garden Inn 52nd Street, New York, NY [Member]
Business Acquisition [Line Items]
Acquisition Date	27-May-14
Total Purchase Price	112,285			84,000
Hilton Garden Inn 52nd Street, New York, NY [Member] \| Franchise Fees Loan Costs And Leasehold Intangibles [Member]
Business Acquisition [Line Items]
Total Purchase Price	1,123
Hilton Garden Inn 52nd Street, New York, NY [Member] \| Land [Member]
Business Acquisition [Line Items]
Total Purchase Price	45,480
Hilton Garden Inn 52nd Street, New York, NY [Member] \| Building and Improvements [Member]
Business Acquisition [Line Items]
Total Purchase Price	60,762
Hilton Garden Inn 52nd Street, New York, NY [Member] \| Furniture, Fixtures And Equipment [Member]
Business Acquisition [Line Items]
Total Purchase Price	4,920
Hyatt Union Square, New York, NY [Member]
Business Acquisition [Line Items]
Acquisition Date		9-Apr-13	[1]
Total Purchase Price		123,945	[1]
Hyatt Union Square, New York, NY [Member] \| Franchise Fees Loan Costs And Leasehold Intangibles [Member]
Business Acquisition [Line Items]
Total Purchase Price		1,945	[1]
Hyatt Union Square, New York, NY [Member] \| Land [Member]
Business Acquisition [Line Items]
Total Purchase Price		32,940	[1]
Hyatt Union Square, New York, NY [Member] \| Building and Improvements [Member]
Business Acquisition [Line Items]
Total Purchase Price		79,300	[1]
Hyatt Union Square, New York, NY [Member] \| Furniture, Fixtures And Equipment [Member]
Business Acquisition [Line Items]
Total Purchase Price		9,760	[1]
Courtyard By Marriott, San Deigo, CA [Member]
Business Acquisition [Line Items]
Acquisition Date		30-May-13
Total Purchase Price		71,184
Courtyard By Marriott, San Deigo, CA [Member] \| Franchise Fees Loan Costs And Leasehold Intangibles [Member]
Business Acquisition [Line Items]
Total Purchase Price		183
Courtyard By Marriott, San Deigo, CA [Member] \| Land [Member]
Business Acquisition [Line Items]
Total Purchase Price		15,656
Courtyard By Marriott, San Deigo, CA [Member] \| Building and Improvements [Member]
Business Acquisition [Line Items]
Total Purchase Price		51,674
Courtyard By Marriott, San Deigo, CA [Member] \| Furniture, Fixtures And Equipment [Member]
Business Acquisition [Line Items]
Total Purchase Price		3,671
Residence Inn, Coconut Grove, FL [Member]
Business Acquisition [Line Items]
Acquisition Date		12-Jun-13
Total Purchase Price		21,895
Residence Inn, Coconut Grove, FL [Member] \| Franchise Fees Loan Costs And Leasehold Intangibles [Member]
Business Acquisition [Line Items]
Total Purchase Price		75
Residence Inn, Coconut Grove, FL [Member] \| Land [Member]
Business Acquisition [Line Items]
Total Purchase Price		4,146
Residence Inn, Coconut Grove, FL [Member] \| Building and Improvements [Member]
Business Acquisition [Line Items]
Total Purchase Price		17,456
Residence Inn, Coconut Grove, FL [Member] \| Furniture, Fixtures And Equipment [Member]
Business Acquisition [Line Items]
Total Purchase Price		218
Blue Moon, Miami Beach, FL [Member]
Business Acquisition [Line Items]
Acquisition Date		20-Dec-13
Total Purchase Price		26,353
Blue Moon, Miami Beach, FL [Member] \| Land [Member]
Business Acquisition [Line Items]
Total Purchase Price		4,874
Blue Moon, Miami Beach, FL [Member] \| Building and Improvements [Member]
Business Acquisition [Line Items]
Total Purchase Price		20,354
Blue Moon, Miami Beach, FL [Member] \| Furniture, Fixtures And Equipment [Member]
Business Acquisition [Line Items]
Total Purchase Price		1,125
Winter Haven, Miami Beach, FL [Member]
Business Acquisition [Line Items]
Acquisition Date		20-Dec-13
Total Purchase Price		24,597
Winter Haven, Miami Beach, FL [Member] \| Land [Member]
Business Acquisition [Line Items]
Total Purchase Price		5,400
Winter Haven, Miami Beach, FL [Member] \| Building and Improvements [Member]
Business Acquisition [Line Items]
Total Purchase Price		18,147
Winter Haven, Miami Beach, FL [Member] \| Furniture, Fixtures And Equipment [Member]
Business Acquisition [Line Items]
Total Purchase Price		$1,050

[1]	On April 9, 2013, we completed the acquisition of the Hyatt Union Square hotel in New York, NY from Risingsam Union Square LLC.B B Consideration given in exchange for the property included $36,000 paid in cash to the seller and our cancellation of a development loan receivable in the original principal amount of $10,000 and $3,303 of accrued interest on the loan. In addition, we paid off the existing construction financing and entered into a new mortgage loan of $55,000. We recognized a net gain of approximately $12,108 on the purchase of the Hyatt Union Square hotel as the fair value of the assets acquired less any liabilities assumed exceeded the consideration transferred.

Investment_In_Hotel_Properties5

Investment In Hotel Properties (Wholly Owned Hotel Properties Acquired-Hilton Garden Inn 52nd Street) (Details) (USD $)	12 Months Ended		1 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Aug. 23, 2012
Business Acquisition [Line Items]
Total Purchase Price	$254,213	$267,974
Non-Cash Fair Market Value Gain on Acquisition	-12,667	-12,096
Hilton Garden Inn 52nd Street, New York, NY [Member]
Business Acquisition [Line Items]
Total Purchase Price	112,285		84,000
Interest and Late Fees on Development Loan	12,494
Non-Cash Fair Market Value Gain on Acquisition	13,594
Hilton Garden Inn 52nd Street, New York, NY [Member] \| Franchise Fees And Loan Costs [Member]
Business Acquisition [Line Items]
Total Purchase Price	1,123
Hilton Garden Inn 52nd Street, New York, NY [Member] \| Initial Purchase Price [Member]
Business Acquisition [Line Items]
Total Purchase Price	84,000
Hilton Garden Inn 52nd Street, New York, NY [Member] \| Other Components Of Consideration [Member]
Business Acquisition [Line Items]
Total Purchase Price	1,074
Hilton Garden Inn 52nd Street, New York, NY [Member] \| Fair Market Value At Acquisition [Member]
Business Acquisition [Line Items]
Total Purchase Price	$111,162

Investment_In_Hotel_Properties6

Investment In Hotel Properties (Results of Operations for Hotels Acquired With 100% Interest) (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014
Hotel Milo, Santa Barbara, California [Member]
Business Acquisition [Line Items]
Revenue	$8,655
Net (Loss) Income	668
Parrot Key Resort, Key West, FL [Member]
Business Acquisition [Line Items]
Revenue	9,145
Net (Loss) Income	2,978
Hilton Garden Inn 52nd Street, New York, NY [Member]
Business Acquisition [Line Items]
Revenue	10,439
Net (Loss) Income	2,573
Hyatt Union Square, New York, NY [Member]
Business Acquisition [Line Items]
Revenue	11,272
Net (Loss) Income	-1,466
Courtyard By Marriott, San Deigo, CA [Member]
Business Acquisition [Line Items]
Revenue	8,350
Net (Loss) Income	1,914
Residence Inn, Coconut Grove, FL [Member]
Business Acquisition [Line Items]
Revenue	2,889
Net (Loss) Income	713
Blue Moon, Miami Beach, FL [Member]
Business Acquisition [Line Items]
Revenue	175
Net (Loss) Income	111
Winter Haven, Miami Beach, FL [Member]
Business Acquisition [Line Items]
Revenue	203
Net (Loss) Income	140
Aquisitions In 2014 [Member]
Business Acquisition [Line Items]
Revenue	28,239
Net (Loss) Income	6,219
Aquisitions In 2013 [Member]
Business Acquisition [Line Items]
Revenue	22,889
Net (Loss) Income	$1,412

Investment_In_Hotel_Properties7

Investment In Hotel Properties (Condensed Pro Forma Financial Data) (Details) (USD $)	3 Months Ended								12 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014		Dec. 31, 2013		Dec. 31, 2012
Investment In Hotel Properties [Abstract]
Pro Forma Total Revenues									$425,029		$376,767
Pro Forma Income from Continuing Operations									72,864		27,859
(Loss) Income from Discontinued Operations									-1,665		29,195
Pro Forma Net Income									71,199		57,054
Loss allocated to Noncontrolling Interest									-1,016		-335
Preferred Distributions	-3,589	-3,589	-3,589	-3,589	-3,589	-3,589	-3,589	-3,844	-14,356		-14,611		-14,000
Extinguishment of Issuance Costs Upon Redemption of Series A Preferred Stock				-2,250							-2,250
Pro Forma Net (Loss) Income applicable to Common Shareholders									$55,827		$39,858
Pro Forma Income applicable to Common Shareholders: Basic									$0.28		$0.20
Pro Forma Income applicable to Common Shareholders: Diluted									$0.28		$0.20
Weighted Average Common Shares Outstanding: Basic	198,629,945	198,597,517	198,494,473	200,743,751	198,944,277	198,878,496	198,633,051	197,029,017	199,109,209		198,390,450		187,415,270
Weighted Average Common Shares Outstanding: Diluted	200,779,472	200,621,986	200,213,554	200,743,751	198,944,277	201,644,633	201,201,337	197,029,017	201,197,310	[1]	201,918,177	[1]	187,415,270	[1]

[1]	Income (loss) allocated to noncontrolling interest in Hersha Hospitality Limited Partnership (the bOperating Partnershipb or bHHLPb) has been excluded from the numerator and common units of limited partnership interest (bCommon Unitsb) in the Operating Partnership have been omitted from the denominator for the purpose of computing diluted earnings per share since the effect of including these shares and units in the numerator and denominator would have no impact.B B In addition, potentially dilutive common shares, if any, have been excluded from the denominator if they are anti-dilutive to income (loss) from continuing operations applicable to common shareholders.

Investment_In_Hotel_Properties8

Investment In Hotel Properties (Schedule Of Capitalized Expenditures Related To Hotel Development Projects And Renovations) (Details) (Hampton Inn, Pearl Street, New York, NY [Member], USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Capitalized Expenditures Related To Development Costs [Line Items]
Development costs	$754	$1,711	$1,847
Property Tax [Member]
Capitalized Expenditures Related To Development Costs [Line Items]
Development costs	223	388	296
Interest Expense [Member]
Capitalized Expenditures Related To Development Costs [Line Items]
Development costs	458	1,320	1,542
Utility [Member]
Capitalized Expenditures Related To Development Costs [Line Items]
Development costs	$73	$3	$9

Investment_In_Unconsolidated_J2

Investment In Unconsolidated Joint Ventures (Narrative) (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	8-May-12	Feb. 23, 2012	Feb. 01, 2013
	Dec. 31, 2014	property	property	property	property	property
Investments in Unconsolidated Joint Ventures [Line Items]
Investment in hotel properties	$1,745,483	$1,535,835
Preferred Return Terms	The Mystic Partners, LLC joint venture agreement provides for an 8.5% non-cumulative preferred return based on our contributed equity interest in the venture. Cash distributions will be made from cash available for distribution, first, to us to provide an 8.5% annual non-compounded return on our unreturned capital contributions and then to our joint venture partner to provide an 8.5% annual non-compounded return of their unreturned contributions. Any remaining cash available for distribution will be distributed to us 10.5% with respect to the net cash flow from the Hartford Marriott, 7.0% with respect to the Hartford Hilton and 56.7%, with respect to the remaining property. Mystic Partners, LLC allocates income to us and our joint venture partner consistent with the allocation of cash distributions in accordance with the joint venture agreements.
Marriott, Hartford, CT [Member]
Investments in Unconsolidated Joint Ventures [Line Items]
Joint Venture cash distribution percentage	10.50%
Fees for asset management services as percentage of operating revenues (in hundredths)	0.25%
Face amount of loan under performance guarantee	50,000
Hilton, Hartford, CT [Member]
Investments in Unconsolidated Joint Ventures [Line Items]
Joint Venture cash distribution percentage	7.00%
Face amount of loan under performance guarantee	27,000
Marriott, Mystic, CT And Courtyard, Norwich, CT [Member]
Investments in Unconsolidated Joint Ventures [Line Items]
Joint Venture cash distribution percentage	56.70%
All Hotel Properties Except Hartford Marriot [Member]
Investments in Unconsolidated Joint Ventures [Line Items]
Fees for asset management services as percentage of operating revenues (in hundredths)	1.00%
Mystic Partners, LLC [Member] \| Courtyard, Norwich, CT [Member]
Investments in Unconsolidated Joint Ventures [Line Items]
Impairment loss		1,813
Number of Real Estate Properties		1
Investment in hotel properties		0
Mystic Partners, LLC [Member] \| Hilton and Marriott branded hotels in CT and RI [Member]
Investments in Unconsolidated Joint Ventures [Line Items]
Preferred units, dividend rate, percentage (in hundredths)	8.50%
Inn American Hospitality at Ewing, LLC [Member
Investments in Unconsolidated Joint Ventures [Line Items]
Percentage of interest acquired		50.00%
Loss on conversion from equity method investment to subsidiary		1,668
Metro 29th Street Associates, LLC [Member]
Investments in Unconsolidated Joint Ventures [Line Items]
Percentage of interest acquired		50.00%
Loss on conversion from equity method investment to subsidiary		$224
Non-core Hotel Properties [Member]
Investments in Unconsolidated Joint Ventures [Line Items]
Number of Real Estate Properties			18	4
Sales closed on hotel properties					14
Non-core Hotel Properties of Unconsolidated Joint Venture [Member]
Investments in Unconsolidated Joint Ventures [Line Items]
Sales closed on hotel properties				1	3	1

Investment_In_Unconsolidated_J3

Investment In Unconsolidated Joint Ventures (Investment In Unconsolidated Joint Ventures) (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Investments in Unconsolidated Joint Ventures [Line Items]
Investment in unconsolidated joint ventures	$11,150	$12,044
SB Partners, LLC [Member] \| Holiday Inn Express, Boston, MA [Member]
Investments in Unconsolidated Joint Ventures [Line Items]
Percent Owned	50.00%
Investment in unconsolidated joint ventures	913	1,057
Hiren Boston, LLC [Member] \| Courtyard by Marriott, Boston, MA [Member]
Investments in Unconsolidated Joint Ventures [Line Items]
Percent Owned	50.00%
Investment in unconsolidated joint ventures	4,680	4,777
Mystic Partners, LLC [Member] \| Hilton and Marriott branded hotels in CT and RI [Member]
Investments in Unconsolidated Joint Ventures [Line Items]
Preferred Return	8.50%
Investment in unconsolidated joint ventures	$5,556	$6,210
Mystic Partners, LLC [Member] \| Hilton and Marriott branded hotels in CT and RI [Member] \| Minimum [Member]
Investments in Unconsolidated Joint Ventures [Line Items]
Percent Owned	8.80%
Mystic Partners, LLC [Member] \| Hilton and Marriott branded hotels in CT and RI [Member] \| Maximum [Member]
Investments in Unconsolidated Joint Ventures [Line Items]
Percent Owned	66.70%

Investment_In_Unconsolidated_J4

Investment In Unconsolidated Joint Ventures (Income Or Loss From Unconsolidated Joint Ventures) (Details) (USD $)	3 Months Ended								12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Investments in Unconsolidated Joint Ventures [Line Items]
Income (Loss) from Unconsolidated Joint Ventures									$693	($22)	($232)
Impairment from Unconsolidated Joint Ventures										-1,813
Loss from Remeasurement of Investment in Unconsolidated Joint Venture											-1,892
Income (Loss) from Unconsolidated Joint Venture Investments	87	607	419	-420	-1,814	227	148	-396	693	-1,835	-2,124
SB Partners, LLC [Member]
Investments in Unconsolidated Joint Ventures [Line Items]
Income (Loss) from Unconsolidated Joint Ventures									407	264	85
Hiren Boston, LLC [Member]
Investments in Unconsolidated Joint Ventures [Line Items]
Income (Loss) from Unconsolidated Joint Ventures									603	113	230
Mystic Partners, LLC [Member]
Investments in Unconsolidated Joint Ventures [Line Items]
Income (Loss) from Unconsolidated Joint Ventures									-317	-399	-433
Metro 29th Street Associates, LLC [Member]
Investments in Unconsolidated Joint Ventures [Line Items]
Income (Loss) from Unconsolidated Joint Ventures											($114)

Investment_In_Unconsolidated_J5

Investment In Unconsolidated Joint Ventures (Summary Financial Information Related To Unconsolidated Joint Ventures) (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Assets [Abstract]
Investment in hotel properties, net	$106,430	$114,221
Other Assets	19,032	19,146
Total Assets	125,462	133,367
Liabilities and Equity [Abstract]
Mortgages and notes payable	115,446	112,654
Other liabilities	30,832	37,464
Equity [Abstract]
Hersha Hospitality Trust	23,060	26,230
Joint Venture Partner(s)	-43,876	-42,981
Total Equity	-20,816	-16,751
Total Liabilities and Equity	125,462	133,367
Statements of Operations [Abstract]
Room Revenue	59,135	58,273	62,058
Other Revenue	21,725	22,606	22,306
Operating Expenses	-54,831	-55,179	-57,131
Lease Expense	-1,063	-996	-3,729
Property Taxes and Insurance	-2,934	-3,034	-3,438
General and Administrative	-5,783	-5,794	-5,904
Depreciation and Amortization	-6,376	-6,697	-6,533
Interest Expense	-11,995	-7,526	-7,650
Debt Extinguishment and Gain on Debt Forgiveness	3,016
Gain (Loss) allocated to Noncontrolling Interests	115	-179	-2,614
Net Income from Continuing Operations	1,009	1,474	-2,635
Income (Loss) from Discontinued Operations		-55	121
Gain on Disposition of Hotel Properties		1,161	25,131
Net Income	$1,009	$2,580	$22,617

Investment_In_Unconsolidated_J6

Investment In Unconsolidated Joint Ventures (Reconciliation Of Share In Unconsolidated Joint Ventures' Equity In Investment In Unconsolidated Joint Ventures) (Details) (USD $)	Dec. 31, 2014		Dec. 31, 2013
In Thousands, unless otherwise specified	Dec. 31, 2014		Dec. 31, 2013
Investment In Unconsolidated Joint Ventures [Abstract]
Company's share of equity recorded on the joint ventures' financial statements	$23,060		$26,230
Adjustment to reconcile the Company's share of equity recorded on the joint ventures' financial statements to our investment in unconsolidated joint ventures	-11,910	[1]	-14,186	[1]
Investment in Unconsolidated Joint Ventures	$11,150		$12,044

[1]	Adjustment to reconcile the Company's share of equity recorded on the joint ventures' financial statements to our investment in unconsolidated joint ventures consists of the following:cumulative impairment of the Companybs investment in joint ventures not reflected on the joint ventures' financial statements;the Companybs basis in the investment in joint ventures not recorded on the joint ventures' financial statements; andaccumulated amortization of the Companybs equity in joint ventures that reflects the Companybs portion of the excess of the fair value of joint ventures' assets on the date of our investment over the carrying value of the assets recorded on the joint ventures financial statements (this excess investment is amortized over the life of the properties, and the amortization is included in Income (Loss) from Unconsolidated Joint Venture Investments on the Companybs consolidated statement of operations).

Other_Assets_And_Deposits_On_H2

Other Assets And Deposits On Hotel Acquisitions (Narrative) (Details) (USD $)	1 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Jul. 31, 2014	Dec. 31, 2014	Dec. 31, 2013
Receivables, Loans, Notes Receivable, and Others, Schedule of Accounts, Notes, Loans and Financing Receivable [Line Items]
Deferred Tax Assets, Net		$11,448	$8,766
Property insurance received	2,498	1,881	5,001
Hilton Garden Inn - 52nd St NY [Member]
Receivables, Loans, Notes Receivable, and Others, Schedule of Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest bearing deposits related to acquisition of other hotel properties			15,486
Hotel Milo, Santa Barbara, California [Member]
Receivables, Loans, Notes Receivable, and Others, Schedule of Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest bearing deposits related to acquisition of other hotel properties			$3,100

Other_Assets_And_Deposits_On_H3

Other Assets And Deposits On Hotel Acquisitions (Other Assets) (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Other Assets And Deposits On Hotel Acquisitions [Abstract]
Transaction Costs		$115
Investment in Statutory Trusts	1,548	1,548
Prepaid Expenses	7,883	9,256
Insurance Claims Receivable	64	1,706
Deferred Tax Asset, Net of Valuation Allowance of $804	11,448	8,766
Other	7,483	6,069
Total Other Assets	28,426	27,460
Valuation allowance	$804	$804

Debt_Narrative_Details

Debt (Narrative) (Details) (USD $)	0 Months Ended	12 Months Ended			1 Months Ended	0 Months Ended
In Thousands, unless otherwise specified	Apr. 24, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Jan. 31, 2014	Jan. 31, 2012	9-May-12	23-May-12	Jun. 29, 2012	Jan. 03, 2013	Jul. 02, 2012
	Apr. 24, 2013	Dec. 31, 2014	loan	Dec. 31, 2012	Jan. 31, 2014	Jan. 31, 2012	9-May-12	23-May-12	Jun. 29, 2012	Jan. 03, 2013	Jul. 02, 2012
Mortgages and Notes Payable [Abstract]
Long-term debt		$918,923
Net unamortizaed premiums		1,584
Subordinated Notes Payable [Abstract]
Debt instrument, basis spread on variable rate (in hundredths)	3.00%
Capitalized Interest [Abstract]
Capitalized interest		458	1,320	1,542
Deferred Financing Costs [Abstract]
Deferred costs, net of accumulated amortization		8,605	7,570
Accumulated amortization		6,938	7,070
Amortization of deferred costs		2,768	2,886	2,991
New Debt/Refinance and Payoffs [Abstract]
Company funded remaining tranche of the unsecured portion of the credit facility										50,000
Unamortized deferred costs and defeasance premiums expensed		670	545	3,189
Unsecured Term Loan		250,000	150,000	100,000
Number of mortgage loans paid off			7
Residence Inn, Tysons Corner, VA [Member]
New Debt/Refinance and Payoffs [Abstract]
Mortgage loan extinguishment			7,928
Residence Inn, Greenbelt, MD [Member]
New Debt/Refinance and Payoffs [Abstract]
Mortgage loan extinguishment		10,179
Duane Street Hotel, New York, NY [Member]
Subordinated Notes Payable [Abstract]
Maturity date					1-Feb-17
Debt instrument, basis spread on variable rate (in hundredths)					4.50%
New Debt/Refinance and Payoffs [Abstract]
Mortgage loan extinguishment					5,175
Mortgage loan					9,500
Fixed interest rate					5.43%
Unamortized deferred costs and defeasance premiums expensed					91
Courtyard by Marriott, Westside, Los Angeles, CA [Member]
Subordinated Notes Payable [Abstract]
Maturity date	29-Sep-17
Debt instrument, basis spread on variable rate (in hundredths)	3.00%
New Debt/Refinance and Payoffs [Abstract]
Mortgage loan	30,000
Advance in principal	5,000
Fixed interest rate	4.95%
Unamortized deferred costs and defeasance premiums expensed	284
Effective interest rate	4.10%
Interest variable rate, floor	0.75%
Capitol Hill Suites, Washington, D.C. [Member]
Subordinated Notes Payable [Abstract]
Maturity date						1-Feb-15
Debt instrument, basis spread on variable rate (in hundredths)						3.25%
New Debt/Refinance and Payoffs [Abstract]
Mortgage loan extinguishment						32,500
Mortgage loan						27,500
Unamortized deferred costs and defeasance premiums expensed						7
Effective interest rate						3.79%
Courtyard by Marriott, Miami, FL [Member]
Subordinated Notes Payable [Abstract]
Maturity date							1-Jul-16
Debt instrument, basis spread on variable rate (in hundredths)							3.50%
New Debt/Refinance and Payoffs [Abstract]
Mortgage loan extinguishment							29,730
Mortgage loan							45,000
Additional draw on mortgage loan, amount							5,000
Number of days between additional draw on mortgage loan							90 days
Effective interest rate											4.32%
Hotel 373, Fifth Avenue, NY [Member]
Subordinated Notes Payable [Abstract]
Maturity date								1-Jun-17
Debt instrument, basis spread on variable rate (in hundredths)								3.85%
New Debt/Refinance and Payoffs [Abstract]
Mortgage loan extinguishment								22,000
Mortgage loan								19,000
Unamortized deferred costs and defeasance premiums expensed								66
Effective interest rate								5.85%
Holiday Inn Express, New York, NY [Member]
Subordinated Notes Payable [Abstract]
Maturity date		5-Nov-16
New Debt/Refinance and Payoffs [Abstract]
Mortgage loan		54,602
Fixed interest rate		6.50%
Mezzanine debt, principal		15,000
Unamortized deferred costs and defeasance premiums expensed		261							176
Holiday Inn Express, Times Square, NY [Member]
New Debt/Refinance and Payoffs [Abstract]
Unamortized deferred costs and defeasance premiums expensed			530
Hilton Garden Inn, Tribeca, NY [Member]
Subordinated Notes Payable [Abstract]
Maturity date		1-Nov-19
Debt instrument, basis spread on variable rate (in hundredths)		2.30%
New Debt/Refinance and Payoffs [Abstract]
Mortgage loan extinguishment		32,000
Mortgage loan		46,500
Citigroup Global Markets Inc. [Member]
New Debt/Refinance and Payoffs [Abstract]
Unamortized deferred costs and defeasance premiums expensed		579
Mortgages [Member]
Mortgages and Notes Payable [Abstract]
Long-term debt		617,375	617,788
Interest rate range, minimum (in hundredths)		2.47%
Interest rate range, maximum (in hundredths)		6.50%
Net unamortizaed premiums		1,584	2,466
Interest expense		31,046	34,854	38,343
Debt covenant compliance status		We have determined that certain debt service coverage ratio covenants contained in the loan agreements securing four of our hotel properties were not met as of December 31, 2014. Pursuant to these loan agreements, the lender has elected to escrow the operating cash flow for a number of these properties. However, these covenants do not constitute an event of default for these loans.
Maturity date range, end		1-Apr-23
Mortgages [Member] \| Assets Held-for-sale [Member]
Mortgages and Notes Payable [Abstract]
Long-term debt		45,835
Junior Subordinated Debt [Member] \| Hersha Statutory Trust I and Hersha Statutory Trust II [Member]
Mortgages and Notes Payable [Abstract]
Interest expense		1,690	1,712	1,810
Subordinated Notes Payable [Abstract]
Number of debt instruments		2
Subordinated notes payable		51,548
Maturity date		30-Jul-35
Number of business days prior to quarterly interest payments for resetting rates		2 days
Debt instrument, interest rate during period (in hundredths)		3.28%	3.32%	3.51%
Junior Subordinated Debt [Member] \| Hersha Statutory Trust I [Member]
Subordinated Notes Payable [Abstract]
Subordinated notes payable		25,774
Debt instrument, description of variable rate basis		LIBOR
Debt instrument, basis spread on variable rate (in hundredths)		3.00%
Junior Subordinated Debt [Member] \| Hersha Statutory Trust II [Member]
Subordinated Notes Payable [Abstract]
Subordinated notes payable		25,774
Debt instrument, description of variable rate basis		LIBOR
Debt instrument, basis spread on variable rate (in hundredths)		3.00%
Secured Credit Facility [Member]
New Debt/Refinance and Payoffs [Abstract]
Unamortized deferred costs and defeasance premiums expensed			$2,410

Debt_Continued_Narrative_Detai

Debt, Continued (Narrative) (Details) (USD $)	0 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Apr. 24, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Feb. 27, 2014
Revolving Line of Credit [Abstract]
Basis spread on variable rate (in hundredths)	3.00%
Line of credit facility covenant minimum tangible net worth		$803,711
Line of credit facility covenant maximum annual distributions (in hundredths)		95.00%
Line of credit facility covenant fixed charge coverage ratio		1.45
Line of credit facility covenant maximum leverage ratio (in hundredths)		60.00%
Outstanding borrowings on revoloving line of credit
Outstanding borrowings on term loans		250,000	150,000	100,000
Scenario, Forecast [Member]
Revolving Line of Credit [Abstract]
Line of credit facility covenant fixed charge coverage ratio		1.5
Minimum [Member]
Revolving Line of Credit [Abstract]
Line of credit facility covenant maximum secured debt leverage ratio (in hundredths)		45.00%
Maximum [Member]
Revolving Line of Credit [Abstract]
Line of credit facility covenant maximum secured debt leverage ratio (in hundredths)		50.00%
Senior Unsecured Credit Agreement [Member]
Revolving Line of Credit [Abstract]
Revolving line of credit, current borrowing capacity		500,000			400,000
Revolving line of credit, maximum borrowing capacity		850,000
Line of credit, expiration date		28-Feb-18
Renewal period of line of credit		1 year
Unsecured Term Loan [Member]
Revolving Line of Credit [Abstract]
Revolving line of credit, current borrowing capacity		250,000			150,000
Line of credit, outstanding principal balance		250,000	150,000
Unsecured Term Loan [Member] \| Minimum [Member]
Revolving Line of Credit [Abstract]
Basis spread on variable rate (in hundredths)		1.60%
Unsecured Term Loan [Member] \| Maximum [Member]
Revolving Line of Credit [Abstract]
Basis spread on variable rate (in hundredths)		2.35%
Revolving Line Of Credit [Member]
Revolving Line of Credit [Abstract]
Revolving line of credit, current borrowing capacity		250,000			250,000
Line of credit, financial covenant terms		The interest rate for the $500,000 unsecured credit facility is based on a pricing grid with a range of one month U.S. LIBOR plus 1.70% to 2.45% for the revolving line of credit and 1.60% to 2.35% for the unsecured term loan. B B As of December 31, 2014, we had borrowed $250,000 in unsecured term loans under the unsecured credit facility, $150,000 for which we had entered into interest rate swaps which effectively fix the interest rate on these term loans at a blended rate ofB 3.217%. See "Note 7 b Fair Value Measurements and Derivative Instruments" for more information.The credit agreement providing for the $500,000 unsecured credit facility includes certain financial covenants and requires that we maintain: (1) a minimum tangible net worth of $803,711, which is calculated by adding back accumulated depreciation to the recorded value of our investment in hotel properties and subtracting certain intangible assets and debt and is subject to increases under certain circumstances; (2) annual distributions not to exceed 95% of adjusted funds from operations; and (3) certain financial ratios, including the following:B7 a fixed charge coverage ratio of not less than 1.45 to 1.00, which increases to 1.50 to 1.00 as of January 1, 2016;B7 a maximum leverage ratio of not more than 60%; andB7 a maximum secured debt leverage ratio of 50%, which decreases to 45% as of January 1, 2016The Company is in compliance with each of the covenants listed above as of December 31, 2014.B As of December 31, 2014, our remaining borrowing capacity under the $500,000 unsecured credit facility was $245,745, based on the borrowing base assets at December 31, 2014.
Line of credit, remaining borrowing capacity		245,745
Interest Expense, on credit facilities		$6,218	$5,413	$2,405
Line of credit, weighted average interest rate (in hundredths)		2.82%	3.08%	4.57%
Revolving Line Of Credit [Member] \| Minimum [Member]
Revolving Line of Credit [Abstract]
Fixed interest rate		3.22%
Basis spread on variable rate (in hundredths)		1.70%
Revolving Line Of Credit [Member] \| Maximum [Member]
Revolving Line of Credit [Abstract]
Basis spread on variable rate (in hundredths)		2.45%

Debt_Aggregate_Annual_Principa

Debt (Aggregate Annual Principal Payments For Mortgages And Notes Payable) (Details) (USD $)	Dec. 31, 2014
In Thousands, unless otherwise specified	Dec. 31, 2014
Debt [Abstract]
2015	$69,063
2016	273,824
2017	204,219
2018	1,564
2019	294,892
Thereafter	73,777
Net Unamortized Premium	1,584
Long-term Debt, Total	$918,923

Commitments_And_Contingencies_2

Commitments And Contingencies And Related Party Transactions (Narrative) (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Management Agreements [Abstract]
Term of management agreements with HHMLP	5 years
Base management fee as percentage of gross revenues (in hundredths)	3.00%
Base management fees incurred	$12,263	$11,713	$10,781
Franchise Agreements [Abstract]
Terms of franchise agreements, minimum	10 years
Terms of franchise agreements, maximum	20 years
Franchise fee expense	26,015	26,247	24,278
Accounting and Information Technology Fees [Abstract]
Monthly fees for accounting services per property for hotels managed by HHMLP, minimum	2
Monthly fees for accounting services per property for hotels managed by HHMLP, maximum	3
Monthly information technology fees per property for hotels managed by HHMLP, minimum	1
Monthly information technology fees per property for hotels managed by HHMLP, maximum	2
Accounting fees	1,410	1,739	1,741
Information technology fees	416	510	509
Capital Expenditure Fees [Abstract]
Fee on all capital expenditures and pending renovation projects at the properties (in hundredths)	5.00%
Fees incurred on capital expenditures	742	1,459	1,076
Acquisitions From Affiliates [Abstract]
Period of right of first refusal per option agreement with officers and affiliated trustees after termination	1 year
Hotel Supplies [Abstract]
Hotel supplies	163	222	149
Charges for capital expenditure purchases	10,610	19,783	11,809
Capital expenditures included in accounts payable	2
Due From Related Parties [Abstract]
Due from related parties	6,580	11,124
Due to Related Parties [Abstract]
Due to related parties	7,203	4,815
Hotel Ground Rent [Abstract]
Rent expense related to ground leases	$2,433	$985	$835

Commitments_And_Contingencies_3

Commitments And Contingencies And Related Party Transactions (Future Minimum Lease Payments) (Details) (USD $)	Dec. 31, 2014
In Thousands, unless otherwise specified	Dec. 31, 2014
Commitments And Contingencies And Related Party Transactions [Abstract]
2015	$2,342
2016	2,374
2017	2,374
2018	2,374
2019	2,374
Thereafter	229,028
Future minimum lease payments	$240,866

Fair_Value_Measurements_And_De2

Fair Value Measurements And Derivative Instruments (Narrative) (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Jan. 31, 2014	27-May-14
Derivatives, Fair Value [Line Items]
Unrealized gain (loss) recognized in accumulated other comprehensive income	$18	$1,410	($635)
Unrealized gain (loss) reclassified from accumulated other comprehensive income to interest expense	1,509
Gain (loss) to be reclassified to interest expense during next 12 months	1,113
Impairment of Discontinued Assets	1,800	10,314
Interest Rate Cap Hyatt Union Square, New York, NY [Member]
Derivatives, Fair Value [Line Items]
Fixed interest payment, percentage	2.00%
Index: Basis spread on variable rate basis (in hundredths)	4.19%
Notional amount	55,000
Maturity Date	9-Apr-16
Interest Rate Swap: Duane Street Hotel, New York, NY [Member]
Derivatives, Fair Value [Line Items]
Fixed interest payment, percentage	0.93%			5.43%
Index: Basis spread on variable rate basis (in hundredths)	4.50%
Notional amount	9,352
Maturity Date	1-Feb-17
Interest Rate Swap: Hilton Garden Inn 52nd Street, New York, NY [Member]
Derivatives, Fair Value [Line Items]
Fixed interest payment, percentage	1.15%				4.05%
Index: Basis spread on variable rate basis (in hundredths)	2.90%
Notional amount	45,000
Maturity Date	21-Feb-17
Carrying (Reported) Amount, Fair Value Disclosure [Member]
Derivatives, Fair Value [Line Items]
Carrying value and estimated fair value of debt	918,923	819,336
Estimate of Fair Value, Fair Value Disclosure [Member]
Derivatives, Fair Value [Line Items]
Carrying value and estimated fair value of debt	916,877	828,974
Holiday Inn Express Camp Springs, MD [Member]
Derivatives, Fair Value [Line Items]
Impairment of Discontinued Assets	3,723
Non-core Hotel Properties [Member]
Derivatives, Fair Value [Line Items]
Impairment of Discontinued Assets	$6,591

Fair_Value_Measurements_And_De3

Fair Value Measurements And Derivative Instruments (Fair Value Of Interest Rate Swaps And Caps) (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Jan. 31, 2014	27-May-14
Derivatives, Fair Value [Line Items]
Estimated Fair Value	($212)	($172)
Settlement of interest rate cap	8	565
Interest rate cap, termination fees	55
Interest Rate Swap: CY Westside, Culver City, LA [Member]
Derivatives, Fair Value [Line Items]
Strike Rate	1.10%
Index: Variable interest rate basis	1-Month LIBOR + 3.85%
Index: Basis spread on variable rate basis (in hundredths)	3.85%
Effective Date	29-Sep-11
Maturity Date	29-Sep-15
Notional amount	30,000
Estimated Fair Value	-174	-374
Interest Rate Swap: Capitol Hill Suites, Washington, DC [Member]
Derivatives, Fair Value [Line Items]
Strike Rate	0.54%
Index: Variable interest rate basis	1-Month LIBOR + 3.25%
Index: Basis spread on variable rate basis (in hundredths)	3.25%
Effective Date	1-Feb-12
Maturity Date	1-Feb-15
Notional amount	26,639
Estimated Fair Value	-8	-88
Interest Rate Cap for Hotel 373, New York, NY [Member]
Derivatives, Fair Value [Line Items]
Strike Rate	2.00%
Index: Variable interest rate basis	1-Month LIBOR + 3.85%
Index: Basis spread on variable rate basis (in hundredths)	3.85%
Effective Date	24-May-12
Maturity Date	1-Jun-15
Notional amount	18,356
Estimated Fair Value		1
Interest Rate Courtyard by Marriott, Miami, FL [Member]
Derivatives, Fair Value [Line Items]
Strike Rate	0.82%
Index: Variable interest rate basis	1-Month LIBOR + 3.50%
Index: Basis spread on variable rate basis (in hundredths)	3.50%
Effective Date	2-Jul-12
Maturity Date	1-Jul-16
Notional amount	60,000
Estimated Fair Value	-218	-354
Subordinated Notes Payable [Member]
Derivatives, Fair Value [Line Items]
Strike Rate	2.00%
Index: Variable interest rate basis	1-Month LIBOR + 3.00%
Index: Basis spread on variable rate basis (in hundredths)	3.00%
Effective Date	30-Jul-12
Maturity Date	30-Jul-14
Notional amount	51,548
Corporate Credit Facility - I [Member] \| Unsecured Term Loan [Member]
Derivatives, Fair Value [Line Items]
Strike Rate	0.55%
Index: Variable interest rate basis	1-Month LIBOR + 2.40%
Index: Basis spread on variable rate basis (in hundredths)	2.40%
Effective Date	5-Nov-12
Maturity Date	5-Nov-16
Notional amount	100,000
Estimated Fair Value	272	430
Corporate Credit Facility - II [Member] \| Unsecured Term Loan [Member]
Derivatives, Fair Value [Line Items]
Strike Rate	0.60%
Index: Variable interest rate basis	1-Month LIBOR + 2.40%
Index: Basis spread on variable rate basis (in hundredths)	2.40%
Effective Date	18-Dec-12
Maturity Date	5-Nov-16
Notional amount	50,000
Estimated Fair Value	85	137
Interest Rate Cap Hyatt Union Square, New York, NY [Member]
Derivatives, Fair Value [Line Items]
Strike Rate	2.00%
Index: Variable interest rate basis	1-Month LIBOR + 4.19%
Index: Basis spread on variable rate basis (in hundredths)	4.19%
Effective Date	9-Apr-13
Maturity Date	9-Apr-16
Notional amount	55,000
Estimated Fair Value	9	76
Interest Rate Swap: Duane Street Hotel, New York, NY [Member]
Derivatives, Fair Value [Line Items]
Strike Rate	0.93%		5.43%
Index: Variable interest rate basis	1-Month LIBOR + 4.50%
Index: Basis spread on variable rate basis (in hundredths)	4.50%
Effective Date	1-Feb-14
Maturity Date	1-Feb-17
Notional amount	9,352
Estimated Fair Value	-29
Interest Rate Cap: Hilton Garden Inn 52nd Street, New York, NY [Member]
Derivatives, Fair Value [Line Items]
Strike Rate	1.10%
Index: Variable interest rate basis	1-Month LIBOR + 2.90%
Index: Basis spread on variable rate basis (in hundredths)	2.90%
Effective Date	27-May-14
Maturity Date	1-Jun-15
Notional amount	45,000
Interest Rate Swap: Hilton Garden Inn 52nd Street, New York, NY [Member]
Derivatives, Fair Value [Line Items]
Strike Rate	1.15%			4.05%
Index: Variable interest rate basis	1-Month LIBOR + 2.90%
Index: Basis spread on variable rate basis (in hundredths)	2.90%
Effective Date	1-Jun-15
Maturity Date	21-Feb-17
Notional amount	45,000
Estimated Fair Value	($149)

Share_Based_Payments_Narrative

Share Based Payments (Narrative) (Details) (USD $)	3 Months Ended		12 Months Ended			1 Months Ended
Share Based Payments (Narrative) (Details) (USD $)	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Jun. 23, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense	$6,028,000	$9,746,000	$6,028,000	$9,746,000	$9,678,000
Unearned Compensation			0	1,305,000
Restricted Shares Forfeiture (in shares)			1,948,324
LTIP Units Issued			1,948,324
Terms of Share-based payment awards			On April 11, 2014, the Compensation Committee approved the 2014 Multi-Year LTIP. The common shares issuable under this program are based on the Company's achievement of a certain level of (1) absolute total shareholder return (37.50% of the award), (2) relative total shareholder return as compared to the Company's peer group (37.50% of the award), and (3) relative growth in revenue per available room compared to the Company's peer group (25% of the award). This program has a three-year performance period which commenced on January 1, 2014 and ends December 31, 2016. As of December 31, 2014 no common shares have been issued in accordance with the 2014 Plan to the executive officers in settlement of 2014 Multi-Year LTIP awards.On April 15, 2013, the Compensation Committee approved the 2013 Multi-Year LTIP. The common shares issuable under this program are based on the Company's achievement of a certain level of (1) absolute total shareholder return (50% of the award), (2) relative total shareholder return as compared to the Company's peer group (25% of the award), and (3) relative growth in revenue per available room compared to the Company's peer group (25% of the award). This program has a three year performance period which commenced on January 1, 2013 and ends December 31, 2015. As of December 31, 2014 no common shares have been issued in accordance with the 2013 Plan to the executive officers in settlement of 2013 Multi-Year LTIP awards.
Shares Vested (in shares)			1,063,202	951,214
2011, 2012 and 2013 Annual LTIP [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense			2,987,000	3,762,000	3,925,000
Multi-Year LTIP [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense			598,000	3,481,000	3,192,000
Unearned Compensation			1,621,000	1,157,000
Restricted Common Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense			1,495,000	1,618,000	1,911,000
Restricted Share Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unearned Compensation			322,000	4,102,000
Shares Issued (in shares)			1,225,713
Shares Vested (in shares)			97,411	32,399
Multi-year LTIP Trustee [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense			71,000	55,000	43,000
Unearned Compensation			127,000	124,000
Shares Vested (in shares)			24,805	11,202
Multi-year LTIP Trustee [Member] \| Annual Retainer [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense			220,000	160,000	66,000
Shares Issued (in shares)			12,860
Percentage premium on retainer equity option (in hundredths)			25.00%
Board Of Trustees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense			457,000	496,000	402,000
Shares Issued (in shares)			20,500			47,475
Share Price on date of grant (in dollars per share)			$7.25			$6.50
Non-employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense			200,000	174,000	139,000
Unearned Compensation			81,000	81,000
Shares Issued (in shares)			60,000
Shares Vested (in shares)			45,000,000	14,999,000
Non-employees [Member] \| Issued 02-01-2013 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unearned Compensation				$81,000
Shares Issued (in shares)			30,000
Shares Vested (in shares)			30,000	14,999
Share Price on date of grant (in dollars per share)			$5.41
Unvested Share Awards [Abstract]
Vesting Period			2 years
Vesting Schedule (in hundredths)			50.00%

Share_Based_Payments_Summary_O

Share Based Payments (Summary Of Unvested Share Awards Issued To Executives) (Details) (USD $)	12 Months Ended
	Dec. 31, 2014		Dec. 31, 2013
Unvested Share Awards [Abstract]
Shares Vested (in shares)	1,063,202		951,214
Unearned Compensation	$0		$1,305,000
Issued 03-24-2014 [Member]
Unvested Share Awards [Abstract]
Shares Issued (in shares)	30,000
Share Price on date of grant (in dollars per share)	$5.69
Vesting Period	2 years
Vesting Schedule (in hundredths)	50.00%
Shares Vested (in shares)	15,000
Unearned Compensation	81,000
2013 Annual LTIP [Member] \| Issued 03-21-2014 [Member]
Unvested Share Awards [Abstract]
Shares Issued (in shares)	447,959
Share Price on date of grant (in dollars per share)	$5.80
Vesting Period	3 years
Vesting Schedule (in hundredths)	25.00%	[1]
Shares Vested (in shares)	111,988
2012 Annual LTIP [Member] \| Issued 03-20-2013 [Member]
Unvested Share Awards [Abstract]
Shares Issued (in shares)	779,045
Share Price on date of grant (in dollars per share)	$5.95
Vesting Period	3 years
Vesting Schedule (in hundredths)	25.00%	[1]
Shares Vested (in shares)	389,520		389,520
Unearned Compensation			1,039,000
2011 Annual LTIP [Member] \| Issued 03-26-2012 [Member]
Unvested Share Awards [Abstract]
Shares Issued (in shares)	748,927
Share Price on date of grant (in dollars per share)	$5.45
Vesting Period	3 years
Vesting Schedule (in hundredths)	25.00%	[1]
Shares Vested (in shares)	561,694		561,694
Unearned Compensation			266,000
Restricted Share Awards [Member]
Unvested Share Awards [Abstract]
Shares Issued (in shares)	1,225,713
Shares Vested (in shares)	97,411		32,399
Unearned Compensation	322,000		4,102,000
Restricted Share Awards [Member] \| Issued 07-15-2014 [Member]
Unvested Share Awards [Abstract]
Shares Issued (in shares)	52,077
Share Price on date of grant (in dollars per share)	$6.75
Vesting Period	2 years
Vesting Schedule (in hundredths)	50.00%
Shares Vested (in shares)	6,126
Unearned Compensation	177,000
Restricted Share Awards [Member] \| Issued 06-23-2014 [Member]
Unvested Share Awards [Abstract]
Shares Issued (in shares)	4,411
Share Price on date of grant (in dollars per share)	$6.50
Vesting Period	2 years
Vesting Schedule (in hundredths)	50.00%
Unearned Compensation	20,000
Restricted Share Awards [Member] \| Issued 03-24-2014 [Member]
Unvested Share Awards [Abstract]
Shares Issued (in shares)	8,184
Share Price on date of grant (in dollars per share)	$5.69
Vesting Period	2 years
Vesting Schedule (in hundredths)	50.00%
Shares Vested (in shares)	4,091
Unearned Compensation	10,000
Restricted Share Awards [Member] \| Issued 02-13-2014 [Member]
Unvested Share Awards [Abstract]
Shares Issued (in shares)	1,846
Share Price on date of grant (in dollars per share)	$5.44
Vesting Period	2 years
Vesting Schedule (in hundredths)	50.00%
Shares Vested (in shares)	923
Unearned Compensation	2,000
Restricted Share Awards [Member] \| Issued 09-20-2013 [Member]
Unvested Share Awards [Abstract]
Shares Issued (in shares)	4,605
Share Price on date of grant (in dollars per share)	$5.52
Shares Vested (in shares)	4,605
Unearned Compensation			19,000
Restricted Share Awards [Member] \| Issued 06-28-2013 [Member]
Unvested Share Awards [Abstract]
Shares Issued (in shares)	48,600
Share Price on date of grant (in dollars per share)	$5.64
Shares Vested (in shares)	22,895
Unearned Compensation	69,000		199,000
Restricted Share Awards [Member] \| Issued 06-29-2012 [Member]
Unvested Share Awards [Abstract]
Shares Issued (in shares)	52,703
Share Price on date of grant (in dollars per share)	$5.28
Shares Vested (in shares)	44,967		22,480
Unearned Compensation	36,000		110,000
Restricted Share Awards [Member] \| Issued 04-18-2012 [Member]
Unvested Share Awards [Abstract]
Shares Issued (in shares)	1,035,595
Share Price on date of grant (in dollars per share)	$5.47
Vesting Period	5 years
Vesting Schedule (in hundredths)	33.00%
Unearned Compensation			3,746,000
Restricted Share Awards [Member] \| Issued 06-30-2011 [Member]
Unvested Share Awards [Abstract]
Shares Issued (in shares)	17,692
Share Price on date of grant (in dollars per share)	$5.57
Shares Vested (in shares)	13,804		9,919
Unearned Compensation	$8,000		$28,000
Minimum [Member] \| Restricted Share Awards [Member] \| Issued 09-20-2013 [Member]
Unvested Share Awards [Abstract]
Vesting Period	2 years
Vesting Schedule (in hundredths)	25.00%
Minimum [Member] \| Restricted Share Awards [Member] \| Issued 06-28-2013 [Member]
Unvested Share Awards [Abstract]
Vesting Period	2 years
Vesting Schedule (in hundredths)	25.00%
Minimum [Member] \| Restricted Share Awards [Member] \| Issued 06-29-2012 [Member]
Unvested Share Awards [Abstract]
Vesting Period	2 years
Vesting Schedule (in hundredths)	25.00%
Minimum [Member] \| Restricted Share Awards [Member] \| Issued 06-30-2011 [Member]
Unvested Share Awards [Abstract]
Vesting Period	2 years
Vesting Schedule (in hundredths)	25.00%
Maximum [Member] \| Restricted Share Awards [Member] \| Issued 09-20-2013 [Member]
Unvested Share Awards [Abstract]
Vesting Period	4 years
Vesting Schedule (in hundredths)	50.00%
Maximum [Member] \| Restricted Share Awards [Member] \| Issued 06-28-2013 [Member]
Unvested Share Awards [Abstract]
Vesting Period	4 years
Vesting Schedule (in hundredths)	50.00%
Maximum [Member] \| Restricted Share Awards [Member] \| Issued 06-29-2012 [Member]
Unvested Share Awards [Abstract]
Vesting Period	4 years
Vesting Schedule (in hundredths)	50.00%
Maximum [Member] \| Restricted Share Awards [Member] \| Issued 06-30-2011 [Member]
Unvested Share Awards [Abstract]
Vesting Period	4 years
Vesting Schedule (in hundredths)	50.00%

[1]	As noted above, the vesting schedule for each of the Annual LTIP Plans remains intact with the conversion to LTIP Units.(2)On April 18, 2012, the Company entered into amended and restated employment agreements with the Companybs executive officers.B B To induce the executives to agree to the substantial reduction in benefits upon certain terminations following a change of control as described in the agreements, the Company awarded an aggregate of 1,035,595 restricted common shares to the executives pursuant to the 2012 Plan.B B None of these restricted common shares will vest prior to the third anniversary of the date of issuance.B B Thereafter, 33.3% of each award of restricted common shares will vest on each of the third, fourth and fifth anniversaries of the date of issuance.B B Vesting will accelerate upon a change of control or if the relevant executivebs employment with the Company were to terminate for any reason other than for cause (as defined in the agreements).

Share_Based_Payments_Summary_O1

Share Based Payments (Summary Of The LTIP Units Issued To Executive Officers) (Details) (USD $)	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014
Unvested Share Awards [Abstract]
LTIP Units Issued	1,948,324
Units Vested (in units)	493,985
Unearned Compensation	$3,541
Issued 12-23-2014 [Member]
Unvested Share Awards [Abstract]
LTIP Units Issued	1,035,595
Vesting Period	5 years
Vesting Schedule (in hundredths)	33.00%
Unearned Compensation	2,650
2013 Annual LTIP [Member] \| Issued 12-23-2014 [Member]
Unvested Share Awards [Abstract]
LTIP Units Issued	335,972
Vesting Period	3 years
Vesting Schedule (in hundredths)	25.00%
Units Vested (in units)	111,991
Unearned Compensation	582
2012 Annual LTIP [Member] \| Issued 12-23-2014 [Member]
Unvested Share Awards [Abstract]
LTIP Units Issued	389,524
Vesting Period	3 years
Vesting Schedule (in hundredths)	25.00%
Units Vested (in units)	194,761
Unearned Compensation	$309
2011 Annual LTIP [Member] \| Issued 12-23-2014 [Member]
Unvested Share Awards [Abstract]
LTIP Units Issued	187,233
Vesting Period	3 years
Vesting Schedule (in hundredths)	25.00%
Units Vested (in units)	187,233

Share_Based_Payments_Summary_O2

Share Based Payments (Summary Of Unvested Share Awards Issued To Trustees) (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Unvested Share Awards [Abstract]
Shares Vested (in shares)	1,063,202	951,214
Unearned Compensation	$0	$1,305,000
Multi-year LTIP Trustee [Member]
Unvested Share Awards [Abstract]
Shares Vested (in shares)	24,805	11,202
Unearned Compensation	127,000	124,000
Multi-year LTIP Trustee [Member] \| Issued 12-30-2014 [Member]
Unvested Share Awards [Abstract]
Shares Issued (in shares)	10,000
Vesting Period	3 years
Vesting Schedule (in hundredths)	33.00%
Unearned Compensation	73,000
Multi-year LTIP Trustee [Member] \| Issued 12-27-2013 [Member]
Unvested Share Awards [Abstract]
Shares Issued (in shares)	12,000
Vesting Period	3 years
Vesting Schedule (in hundredths)	33.00%
Shares Vested (in shares)	5,335
Unearned Compensation	38,000	67,000
Multi-year LTIP Trustee [Member] \| Issued 12-28-2012 [Member]
Unvested Share Awards [Abstract]
Shares Issued (in shares)	12,000
Vesting Period	3 years
Vesting Schedule (in hundredths)	33.00%
Shares Vested (in shares)	8,670	4,002
Unearned Compensation	16,000	39,000
Multi-year LTIP Trustee [Member] \| Issued 06-05-2012 [Member]
Unvested Share Awards [Abstract]
Shares Issued (in shares)	10,800
Vesting Period	3 years
Vesting Schedule (in hundredths)	33.00%
Shares Vested (in shares)	10,800	7,200
Unearned Compensation		$18,000
Annual Retainer [Member]
Unvested Share Awards [Abstract]
Shares Issued (in shares)	51,993
Shares Vested (in shares)	93,000	220,000
Annual Retainer [Member] \| Issued 12-30-2014 [Member]
Unvested Share Awards [Abstract]
Shares Issued (in shares)	12,860
Share Price on date of grant (in dollars per share)	$7.25
Vesting Period	1 year
Vesting Schedule (in hundredths)	100.00%
Shares Vested (in shares)	93,000
Annual Retainer [Member] \| Issued 12-27-2013 [Member]
Unvested Share Awards [Abstract]
Shares Issued (in shares)	39,133
Share Price on date of grant (in dollars per share)	$5.63
Vesting Period	1 year
Vesting Schedule (in hundredths)	100.00%
Shares Vested (in shares)		220,000

Share_Based_Payments_Summary_O3

Share Based Payments (Summary Of Unvested Share Awards Issued To Nonemployees) (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Unvested Share Awards [Abstract]
Shares Vested (in shares)	1,063,202	951,214
Unearned Compensation	$0	$1,305,000
Issued 03-24-2014 [Member]
Unvested Share Awards [Abstract]
Shares Issued (in shares)	30,000
Share Price on date of grant (in dollars per share)	$5.69
Vesting Period	2 years
Vesting Schedule (in hundredths)	50.00%
Shares Vested (in shares)	15,000
Unearned Compensation	81,000
Non-employees [Member]
Unvested Share Awards [Abstract]
Shares Issued (in shares)	60,000
Shares Vested (in shares)	45,000,000	14,999,000
Unearned Compensation	81,000	81,000
Non-employees [Member] \| Issued 02-01-2013 [Member]
Unvested Share Awards [Abstract]
Shares Issued (in shares)	30,000
Share Price on date of grant (in dollars per share)	$5.41
Vesting Period	2 years
Vesting Schedule (in hundredths)	50.00%
Shares Vested (in shares)	30,000	14,999
Unearned Compensation		$81,000

Earnings_Per_Share_Reconciliat

Earnings Per Share (Reconciliation Of Earnings Per Share) (Details) (USD $)	3 Months Ended								12 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014		Dec. 31, 2013		Dec. 31, 2012
BASIC AND DILUTED [Abstract]
Income from Continuing Operations	$6,840	$7,030	$58,656	($5,275)	($124)	$3,456	$19,513	($7,692)	$69,936		$20,753		$7,498
(Income) Loss from Continuing Operations allocated to Noncontrolling Interests									-1,069		658		703
Distributions to Preferred Shareholders	-3,589	-3,589	-3,589	-3,589	-3,589	-3,589	-3,589	-3,844	-14,356		-14,611		-14,000
Dividends Paid on Unvested Restricted Shares and LTIP Units									-515		-804		-459
Extinguishment of Issuance Costs Upon Redemption of Series A Preferred Stock				-2,250							-2,250
Income (Loss) from Continuing Operations attributable to Common Shareholders									53,996		3,746		-6,258
Discontinued Operations [Abstract]
(Loss) Income from Discontinued Operations	-108	-142	-69	-1,346	34,046	-3,532	-206	-1,113	-1,665		29,195		14,720
Loss (Income) from Discontinued Operations allocated to Noncontrolling Interests									53		-993		-545
(Loss) Income from Discontinued Operations attributable to Common Shareholders									-1,612		28,202		14,175
Net Income attributable to Common Shareholders									$52,384		$31,948		$7,917
Denominator [Abstract]
Weighted average number of common shares - basic (in shares)	198,629,945	198,597,517	198,494,473	200,743,751	198,944,277	198,878,496	198,633,051	197,029,017	199,109,209		198,390,450		187,415,270
Effect of dilutive securities [Abstract]
Restricted Stock Awards (in shares)									1,358,603		2,384,165
Contingently Issued Shares (in shares)									729,498		1,143,562
Weighted average number of common shares - diluted (in shares)	200,779,472	200,621,986	200,213,554	200,743,751	198,944,277	201,644,633	201,201,337	197,029,017	201,197,310	[1]	201,918,177	[1]	187,415,270	[1]

[1]	Income (loss) allocated to noncontrolling interest in Hersha Hospitality Limited Partnership (the bOperating Partnershipb or bHHLPb) has been excluded from the numerator and common units of limited partnership interest (bCommon Unitsb) in the Operating Partnership have been omitted from the denominator for the purpose of computing diluted earnings per share since the effect of including these shares and units in the numerator and denominator would have no impact.B B In addition, potentially dilutive common shares, if any, have been excluded from the denominator if they are anti-dilutive to income (loss) from continuing operations applicable to common shareholders.

Earnings_Per_Share_Potentially

Earnings Per Share (Potentially Dilutive Shares Excluded From The Denominator For The Purpose Of Computing Diluted Earnings Per Share) (Details)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially Dilutive Securities Excluded from the Denominator	6,942,360	6,968,035	10,695,345
Common Units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially Dilutive Securities Excluded from the Denominator	6,909,649	6,968,035	7,208,123
LTIP Units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially Dilutive Securities Excluded from the Denominator	32,711
Unvested Stock Awards Outstanding [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially Dilutive Securities Excluded from the Denominator			433,097
Contingently Issuable Share Awards [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially Dilutive Securities Excluded from the Denominator			2,778,545
Options To Acquire Common Shares Outstanding [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially Dilutive Securities Excluded from the Denominator			275,580

Cash_Flow_Disclosures_And_Non_2

Cash Flow Disclosures And Non Cash Investing And Financing Activities (Narrative) (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Cash Flow Disclosures And Non Cash Investing And Financing Activities [Abstract]
Interest paid	$40,760	$42,984	$41,744

Cash_Flow_Disclosures_And_Non_3

Cash Flow Disclosures And Non Cash Investing And Financing Activities (Non-cash Investing And Financing Activities) (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Non-cash Investing and Financing Activities [Abstract]
Common Shares issued as part of the Dividend Reinvestment Plan	$50	$38	$24
Debt assumed	24,924		85,913
Development loan accrued interest revenue receivable paid in-kind by adding balance to development loan principal			678
Settlement of development loan receivable principal and accrued interest revenue receivable	22,494	13,303
Disposition of hotel properties [Abstract]
Investment in hotel properties, net, conveyed to mortgage lender			1,938
Debt conveyed to mortgage lender			2,940
Debt assumed by purchaser	45,710		54,217
Conversion of Common Units to Common Shares	72	106	572
Reallocation of noncontrolling interest			-966
Accrued payables for fixed assets placed into service	$1,312	$2,572

Hotel_Dispositions_Real_Estate

Hotel Dispositions (Real Estate Assets Sold) (Details) (USD $)

3 Months Ended

12 Months Ended

In Thousands, unless otherwise specified

Dec. 31, 2014

Sep. 30, 2014

Jun. 30, 2014

Mar. 31, 2014

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

8-May-12

Feb. 23, 2012

property

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Gain on Disposition

($128)

$32,121

$11,231

Gain on Disposition

7,195

Net (Loss) Income

8,611

7,587

58,586

-6,513

37,240

2,299

18,085

-7,676

68,271

49,948

22,218

Hotel 373-5th Ave, New York, NY [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Acquisition Date

1-Jun-07

Disposition Date

1-Apr-14

Consideration

37,000

Gain on Disposition

7,195

Net (Loss) Income

-137

858

546

Non-Core Portfolio II [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Disposition Date

1-Dec-13

Consideration

158,600

Gain on Disposition

31,559

Number of Real Estate Properties

Disposal Group, aggregate purchase price

217,000

Number of hotel properties sold

Net proceeds from sale of non-core hotel properties

58,400

158,600

Reduction in mortgage debt resulting from sale of hotel properties sold

45,710

33,044

Gain on sale of hotel properties

31,559

Impairment loss related to purchase and sales agreements

1,800

6,591

Holiday Inn Express Camp Springs, MD [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Acquisition Date

1-Jun-08

Disposition Date

1-Sep-13

Consideration

8,500

Gain on Disposition

120

Impairment loss related to purchase and sales agreements

3,723

Comfort Inn Harrisburg, PA [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Acquisition Date

1-Jan-99

Disposition Date

1-Jun-13

Consideration

3,700

Gain on Disposition

442

Non-core Hotel Properties [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Consideration

155,000

Gain on Disposition

4,978

Number of Real Estate Properties

Number of hotel properties sold

Number of hotel properties held for sale

Net proceeds from sale of non-core hotel properties

155,000

Reduction in mortgage debt resulting from sale of hotel properties sold

61,298

Gain on sale of hotel properties

4,978

Non-core Hotel Properties of Unconsolidated Joint Venture [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Number of hotel properties sold

Number of hotel properties held for sale

Land Parcel, Eighth Ave, Manhattan, NY [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Acquisition Date

1-Jun-06

Disposition Date

1-Apr-12

Consideration

19,250

Gain on Disposition

5,037

Comfort Inn, North Dartmouth, MA [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Acquisition Date

1-May-06

Disposition Date

1-Mar-12

Gain on Disposition

1,216

Gain from transfer of title

$1,216

Minimum [Member] | Non-Core Portfolio II [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Acquisition Date

1-Jan-99

Minimum [Member] | Non-core Hotel Properties [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Acquisition Date

1-Jan-99

Disposition Date

1-Feb-12

Maximum [Member] | Non-Core Portfolio II [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Acquisition Date

1-Jul-10

Maximum [Member] | Non-core Hotel Properties [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Acquisition Date

1-Jul-07

Disposition Date

1-May-12

Hotel_Dispositions_Assets_Held

Hotel Dispositions (Assets Held For Sale) (Details) (USD $)	Dec. 31, 2013
In Thousands, unless otherwise specified	Dec. 31, 2013
Long Lived Assets Held-for-sale [Line Items]
Assets Held for Sale, Gross	$76,844
Less Accumulated Depreciation & Amortization	-20,261
Assets Held for Sale	56,583
Liabilities Related To Assets Held for Sale	45,835
Land [Member]
Long Lived Assets Held-for-sale [Line Items]
Assets Held for Sale, Gross	9,517
Building and Improvements [Member]
Long Lived Assets Held-for-sale [Line Items]
Assets Held for Sale, Gross	58,129
Furniture, Fixtures And Equipment [Member]
Long Lived Assets Held-for-sale [Line Items]
Assets Held for Sale, Gross	$9,198

Hotel_Dispositions_Components_

Hotel Dispositions (Components Of Discontinued Operations) (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Revenue
Hotel Operating Revenues	$1,940	$58,045	$63,465
Other Revenues			11
Total Revenues	1,940	58,045	63,476
Expenses
Hotel Operating Expenses	1,151	35,158	39,046
Gain on Insurance Settlements	-74
Hotel Ground Rent			72
Real Estate and Personal Property Taxes and Property Insurance	91	3,316	3,636
General and Administrative	4	36	27
Acquisition and Termination Transaction Costs			8
Depreciation and Amortization	1	7,050	9,148
Interest Expense	354	4,863	7,872
Other Expense		44	10
Loss on Debt Extinguishment			168
Income Tax Expense	2	190
Total Expenses	1,677	50,657	59,987
Income from Discontinued Operations	$263	$7,388	$3,489

Shareholders_Equity_And_Noncon1

Shareholders' Equity And Noncontrolling Interests In Partnership (Details) (USD $)	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Stockholders' Equity Note [Abstract]
Total number of Common Units outstanding (in shares)	6,849,412	6,914,716	7,112,506
Common units converted to Class A Common Shares (in shares)	18,900	27,790	157,810
Common Units redeemed	46,404
Common Units redeemed (in dollars)	$338
LTIP Unit Issuance (in shares)	1,948,324

Income_Taxes_Narrative_Details

Income Taxes (Narrative) (Details) (USD $)	3 Months Ended								12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Segment Reporting Information [Line Items]
Minimum distribution requirement of its real estate investment trust taxable income to its shareholders (in hundredths)									90.00%
Net operating losses (income)									$67,909	$44,690	$46,258
Total income tax expense	-1,879	-699	1	-108	-3,318	-2,375	1,222	-1,129	-2,685	-5,600	-3,355
Valuation allowance	804				804				804	804
Tax Credits									481
Federal [Member]
Segment Reporting Information [Line Items]
Net operating loss carryforwards	28,732								28,732
State [Member]
Segment Reporting Information [Line Items]
Net operating loss carryforwards	$30,868								$30,868

Income_Taxes_Effective_Income_

Income Taxes (Effective Income Tax Reconciliation) (Details) (USD $)	3 Months Ended								12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Tax Disclosure [Abstract]
Statutory federal income tax provision									$22,865	$5,152	$1,409
Adjustment for nontaxable loss									-25,274	-7,472	-623
State income taxes, net of federal income tax effect									-367	-1,317	151
Recognition of deferred tax assets									91	-1,963
Changes in valuation allowance											-4,292
Total income tax benefit	($1,879)	($699)	$1	($108)	($3,318)	($2,375)	$1,222	($1,129)	($2,685)	($5,600)	($3,355)

Income_Taxes_Components_Of_The

Income Taxes (Components Of The Company's Income Tax Expense (Benefit)) (Details) (USD $)	3 Months Ended								12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Tax Disclosure [Abstract]
Income tax expense (benefit): State: Current											$229
Income tax expense (benefit): Federal: Deferred									-2,130	-3,604	-3,584
Income tax expense (benefit): State: Deferred									-555	-1,996
Total income tax benefit	-1,879	-699	1	-108	-3,318	-2,375	1,222	-1,129	-2,685	-5,600	-3,355
Income tax expense (benefit): From continuing operations									-2,685	-5,600	-3,355
Income tax expense (benefit): From discontinued operations									2	190
Total income tax expense (benefit)									($2,683)	($5,410)	($3,355)

Income_Taxes_Components_Of_Con

Income Taxes (Components Of Consolidated TRS's Deferred Tax Assets) (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
Net operating loss carryforward	$11,387	$8,605
Accrued expenses and other	616	685
Tax credit carryforwards	481	280
Total gross deferred tax assets	12,484	9,570
Valuation allowance	-804	-804
Total net deferred tax assets	11,680	8,766
Depreciation and amortization	232
Total Net deferred tax assets (liabilities)	11,448	8,766
Deferred Tax Assets, Net	$11,448	$8,766

Income_Taxes_Taxability_Of_Com

Income Taxes (Taxability Of Common And Preferred Share Distributions) (Details)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Series A Preferred Shares [Member]
Ordinary income (in hundredths)		100.00%	100.00%
Return of Capital (in hundredths)		0.00%	0.00%
Capital Gain Distribution (in hundredths)		0.00%	0.00%
Series B Preferred Shares [Member]
Ordinary income (in hundredths)	100.00%	100.00%	100.00%
Return of Capital (in hundredths)	0.00%	0.00%	0.00%
Capital Gain Distribution (in hundredths)	0.00%	0.00%	0.00%
Series C Preferred Shares [Member]
Ordinary income (in hundredths)	100.00%	100.00%
Return of Capital (in hundredths)	0.00%	0.00%
Capital Gain Distribution (in hundredths)	0.00%	0.00%
Class A Common Shares [Member]
Ordinary income (in hundredths)	76.34%	45.15%	1.28%
Return of Capital (in hundredths)	23.66%	54.85%	98.72%
Capital Gain Distribution (in hundredths)	0.00%	0.00%	0.00%

Selected_Quarterly_Financial_D2

Selected Quarterly Financial Data (Unaudited) (Narrative) (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012
Selected Quarterly Financial Information [Abstract]
Gain on Disposition of Hotel Properties	$1,161	$25,131

Selected_Quarterly_Financial_D3

Selected Quarterly Financial Data (Unaudited) (Selected Quarterly Financial Data (Unaudited)) (Details) (USD $)	3 Months Ended								12 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014		Dec. 31, 2013		Dec. 31, 2012
Selected Quarterly Financial Information [Abstract]
Total Revenues	$112,985	$113,048	$111,830	$80,348	$92,510	$90,741	$91,068	$65,878	$417,406		$338,413		$301,215
Total Expenses	106,232	106,625	53,593	85,203	90,820	87,512	71,703	73,174	349,497		293,723		254,957
(Loss) Income from Unconsolidated Joint Ventures	87	607	419	-420	-1,814	227	148	-396	693		-1,835		-2,124
(Loss) Income from Continuing Operations	6,840	7,030	58,656	-5,275	-124	3,456	19,513	-7,692	69,936		20,753		7,498
Income Tax Benefit	1,879	699	-1	108	3,318	2,375	-1,222	1,129	2,685		5,600		3,355
Income (Loss) from Discontinued Operations (including Gain on Disposition of Discontinued Assets)*	-108	-142	-69	-1,346	34,046	-3,532	-206	-1,113	-1,665		29,195		14,720
Net (Loss) Income	8,611	7,587	58,586	-6,513	37,240	2,299	18,085	-7,676	68,271		49,948		22,218
(Loss) Income Allocated to Noncontrolling Interests in Continuing Operations	-83	-49	1,655	-507	962	-164	210	-673	1,016		335		-158
Extinguishment of Issuance Costs Upon Redemption of Series A Preferred Shares				2,250							2,250
Preferred Distributions	3,589	3,589	3,589	3,589	3,589	3,589	3,589	3,844	14,356		14,611		14,000
Net (Loss) Income applicable to Common Shareholders	$5,105	$4,047	$53,342	($9,595)	$32,689	($1,126)	$14,286	($13,097)	$52,899		$32,752		$8,376
Basic and diluted earnings per share [Abstract]
(Loss) Income from continuing operations applicable to common shareholders ( in dollars per share)	$0.03	$0.02	$0.27	($0.04)	$0	$0.01	$0.08	($0.07)
Discontinued Operations (in dollars per share)	$0	$0	$0	($0.01)	$0.16	($0.02)	($0.01)	$0
Net (Loss) Income applicable to Common Shareholders (in dollars per share)	$0.03	$0.02	$0.27	($0.05)	$0.16	($0.01)	$0.07	($0.07)
Weighted Average Common Shares Outstanding [Abstract]
Basic (in shares)	198,629,945	198,597,517	198,494,473	200,743,751	198,944,277	198,878,496	198,633,051	197,029,017	199,109,209		198,390,450		187,415,270
Diluted (in shares)	200,779,472	200,621,986	200,213,554	200,743,751	198,944,277	201,644,633	201,201,337	197,029,017	201,197,310	[1]	201,918,177	[1]	187,415,270	[1]

[1]	Income (loss) allocated to noncontrolling interest in Hersha Hospitality Limited Partnership (the bOperating Partnershipb or bHHLPb) has been excluded from the numerator and common units of limited partnership interest (bCommon Unitsb) in the Operating Partnership have been omitted from the denominator for the purpose of computing diluted earnings per share since the effect of including these shares and units in the numerator and denominator would have no impact.B B In addition, potentially dilutive common shares, if any, have been excluded from the denominator if they are anti-dilutive to income (loss) from continuing operations applicable to common shareholders.

Schedule_III_Real_Estate_And_A1

Schedule III - Real Estate And Accumulated Depreciation (Narrative) (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Aggregate cost of land, buildings and improvements	1,836,861	$1,575,555	$1,278,318
Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Useful life of buildings and improvements	7 years
Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Useful life of buildings and improvements	40 years

Schedule_III_Real_Estate_And_A2

Schedule III - Real Estate And Accumulated Depreciation (Real Estate And Accumulated Depreciation) (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014		Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	($563,079)
Initial Costs [Abstract]
Land	439,540
Buildings & Improvements	1,312,189
Costs Capitalized Subsequent to Acquisition [Abstract]
Buildings & Improvements	112,653
Gross Amounts at which Carried at Close of Period [Abstract]
Land	439,540
Buildings & Improvements	1,424,842
Total Real Estate	1,864,382		1,629,312	1,520,151	1,481,433
Accumulated Depreciation Buildings & Improvements	-189,889		-162,189	-150,353	-139,057
Net Book Value Land, Buildings & Improvements	1,674,493
Residence Inn, Framingham, MA [Member] \| Hotel [Member]
Initial Costs [Abstract]
Land	1,325
Buildings & Improvements	12,737
Costs Capitalized Subsequent to Acquisition [Abstract]
Buildings & Improvements	4,844
Gross Amounts at which Carried at Close of Period [Abstract]
Land	1,325
Buildings & Improvements	17,581
Total Real Estate	18,906
Accumulated Depreciation Buildings & Improvements	-4,860	[1]
Net Book Value Land, Buildings & Improvements	14,046
Date of Acquisition	26-Mar-04
Hampton Inn, New York, NY [Member] \| Hotel [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	-23,026
Initial Costs [Abstract]
Land	5,472
Buildings & Improvements	23,280
Costs Capitalized Subsequent to Acquisition [Abstract]
Buildings & Improvements	1,458
Gross Amounts at which Carried at Close of Period [Abstract]
Land	5,472
Buildings & Improvements	24,738
Total Real Estate	30,210
Accumulated Depreciation Buildings & Improvements	-6,703	[1]
Net Book Value Land, Buildings & Improvements	23,507
Date of Acquisition	1-Apr-05
Residence Inn, Greenbelt, MD [Member] \| Hotel [Member]
Initial Costs [Abstract]
Land	2,615
Buildings & Improvements	14,815
Costs Capitalized Subsequent to Acquisition [Abstract]
Buildings & Improvements	2,250
Gross Amounts at which Carried at Close of Period [Abstract]
Land	2,615
Buildings & Improvements	17,065
Total Real Estate	19,680
Accumulated Depreciation Buildings & Improvements	-5,021	[1]
Net Book Value Land, Buildings & Improvements	14,659
Date of Acquisition	16-Jul-04
Courtyard, Brookline, MA [Member] \| Hotel [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	-36,453
Initial Costs [Abstract]
Buildings & Improvements	47,414
Costs Capitalized Subsequent to Acquisition [Abstract]
Buildings & Improvements	1,554
Gross Amounts at which Carried at Close of Period [Abstract]
Buildings & Improvements	48,968
Total Real Estate	48,968
Accumulated Depreciation Buildings & Improvements	-12,438	[1]
Net Book Value Land, Buildings & Improvements	36,530
Date of Acquisition	16-Jun-05
Residence Inn, Tyson's Corner, VA [Member] \| Hotel [Member]
Initial Costs [Abstract]
Land	4,283
Buildings & Improvements	14,475
Costs Capitalized Subsequent to Acquisition [Abstract]
Buildings & Improvements	1,920
Gross Amounts at which Carried at Close of Period [Abstract]
Land	4,283
Buildings & Improvements	16,395
Total Real Estate	20,678
Accumulated Depreciation Buildings & Improvements	-4,113	[1]
Net Book Value Land, Buildings & Improvements	16,565
Date of Acquisition	2-Feb-06
Hilton Garden Inn, JFK Airport, NY [Member] \| Hotel [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	-19,707
Initial Costs [Abstract]
Buildings & Improvements	25,018
Costs Capitalized Subsequent to Acquisition [Abstract]
Buildings & Improvements	2,618
Gross Amounts at which Carried at Close of Period [Abstract]
Buildings & Improvements	27,636
Total Real Estate	27,636
Accumulated Depreciation Buildings & Improvements	-6,770	[1]
Net Book Value Land, Buildings & Improvements	20,866
Date of Acquisition	16-Feb-06
Hawthorne Suites, Franklin, MA [Member] \| Hotel [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	-7,520
Initial Costs [Abstract]
Land	1,872
Buildings & Improvements	8,968
Costs Capitalized Subsequent to Acquisition [Abstract]
Buildings & Improvements	505
Gross Amounts at which Carried at Close of Period [Abstract]
Land	1,872
Buildings & Improvements	9,473
Total Real Estate	11,345
Accumulated Depreciation Buildings & Improvements	-2,211	[1]
Net Book Value Land, Buildings & Improvements	9,134
Date of Acquisition	25-Apr-06
Holiday Inn Exp, Cambridge, MA [Member] \| Hotel [Member]
Initial Costs [Abstract]
Land	1,956
Buildings & Improvements	9,793
Costs Capitalized Subsequent to Acquisition [Abstract]
Buildings & Improvements	2,352
Gross Amounts at which Carried at Close of Period [Abstract]
Land	1,956
Buildings & Improvements	12,145
Total Real Estate	14,101
Accumulated Depreciation Buildings & Improvements	-3,469	[1]
Net Book Value Land, Buildings & Improvements	10,632
Date of Acquisition	3-May-06
Residence Inn, Norwood, MA [Member] \| Hotel [Member]
Initial Costs [Abstract]
Land	1,970
Buildings & Improvements	11,761
Costs Capitalized Subsequent to Acquisition [Abstract]
Buildings & Improvements	1,482
Gross Amounts at which Carried at Close of Period [Abstract]
Land	1,970
Buildings & Improvements	13,243
Total Real Estate	15,213
Accumulated Depreciation Buildings & Improvements	-2,904	[1]
Net Book Value Land, Buildings & Improvements	12,309
Date of Acquisition	27-Jul-06
Hampton Inn, Chelsea, NY [Member] \| Hotel [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	-33,696
Initial Costs [Abstract]
Land	8,905
Buildings & Improvements	33,500
Costs Capitalized Subsequent to Acquisition [Abstract]
Buildings & Improvements	1,944
Gross Amounts at which Carried at Close of Period [Abstract]
Land	8,905
Buildings & Improvements	35,444
Total Real Estate	44,349
Accumulated Depreciation Buildings & Improvements	-8,215	[1]
Net Book Value Land, Buildings & Improvements	36,134
Date of Acquisition	29-Sep-06
Hyatt House, Gaithersburg, MD [Member] \| Hotel [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	-13,720
Initial Costs [Abstract]
Land	2,912
Buildings & Improvements	16,001
Costs Capitalized Subsequent to Acquisition [Abstract]
Buildings & Improvements	3,812
Gross Amounts at which Carried at Close of Period [Abstract]
Land	2,912
Buildings & Improvements	19,813
Total Real Estate	22,725
Accumulated Depreciation Buildings & Improvements	-4,616	[1]
Net Book Value Land, Buildings & Improvements	18,109
Date of Acquisition	28-Dec-06
Hyatt House, Pleasant Hills, CA [Member] \| Hotel [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	-20,160
Initial Costs [Abstract]
Land	6,216
Buildings & Improvements	17,229
Costs Capitalized Subsequent to Acquisition [Abstract]
Buildings & Improvements	2,996
Gross Amounts at which Carried at Close of Period [Abstract]
Land	6,216
Buildings & Improvements	20,225
Total Real Estate	26,441
Accumulated Depreciation Buildings & Improvements	-4,200	[1]
Net Book Value Land, Buildings & Improvements	22,241
Date of Acquisition	28-Dec-06
Hyatt House, Pleasanton, CA [Member] \| Hotel [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	-14,490
Initial Costs [Abstract]
Land	3,941
Buildings & Improvements	12,560
Costs Capitalized Subsequent to Acquisition [Abstract]
Buildings & Improvements	3,497
Gross Amounts at which Carried at Close of Period [Abstract]
Land	3,941
Buildings & Improvements	16,057
Total Real Estate	19,998
Accumulated Depreciation Buildings & Improvements	-3,815	[1]
Net Book Value Land, Buildings & Improvements	16,183
Date of Acquisition	28-Dec-06
Hyatt House, Scottsdale, AZ [Member] \| Hotel [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	-16,778
Initial Costs [Abstract]
Land	3,060
Buildings & Improvements	19,968
Costs Capitalized Subsequent to Acquisition [Abstract]
Buildings & Improvements	3,408
Gross Amounts at which Carried at Close of Period [Abstract]
Land	3,060
Buildings & Improvements	23,376
Total Real Estate	26,436
Accumulated Depreciation Buildings & Improvements	-5,575	[1]
Net Book Value Land, Buildings & Improvements	20,861
Date of Acquisition	28-Dec-06
Hyatt House, White Plains, NY [Member] \| Hotel [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	-33,030
Initial Costs [Abstract]
Land	8,823
Buildings & Improvements	30,273
Costs Capitalized Subsequent to Acquisition [Abstract]
Buildings & Improvements	2,700
Gross Amounts at which Carried at Close of Period [Abstract]
Land	8,823
Buildings & Improvements	32,973
Total Real Estate	41,796
Accumulated Depreciation Buildings & Improvements	-7,501	[1]
Net Book Value Land, Buildings & Improvements	34,295
Date of Acquisition	28-Dec-06
Holiday Inn Exp & Suites, Chester, NY [Member] \| Hotel [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	-6,264
Initial Costs [Abstract]
Land	1,500
Buildings & Improvements	6,671
Costs Capitalized Subsequent to Acquisition [Abstract]
Buildings & Improvements	242
Gross Amounts at which Carried at Close of Period [Abstract]
Land	1,500
Buildings & Improvements	6,913
Total Real Estate	8,413
Accumulated Depreciation Buildings & Improvements	-1,404	[1]
Net Book Value Land, Buildings & Improvements	7,009
Date of Acquisition	25-Jan-07
Hampton Inn, Seaport, NY [Member] \| Hotel [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	-17,764
Initial Costs [Abstract]
Land	7,816
Buildings & Improvements	19,040
Costs Capitalized Subsequent to Acquisition [Abstract]
Buildings & Improvements	811
Gross Amounts at which Carried at Close of Period [Abstract]
Land	7,816
Buildings & Improvements	19,851
Total Real Estate	27,667
Accumulated Depreciation Buildings & Improvements	-4,049	[1]
Net Book Value Land, Buildings & Improvements	23,618
Date of Acquisition	1-Feb-07
Sheraton Hotel, JFK Airport, NY [Member] \| Hotel [Member]
Initial Costs [Abstract]
Buildings & Improvements	27,315
Costs Capitalized Subsequent to Acquisition [Abstract]
Buildings & Improvements	1,430
Gross Amounts at which Carried at Close of Period [Abstract]
Buildings & Improvements	28,745
Total Real Estate	28,745
Accumulated Depreciation Buildings & Improvements	-4,877	[1]
Net Book Value Land, Buildings & Improvements	23,868
Date of Acquisition	13-Jun-08
Hampton Inn, Philadelphia, PA [Member] \| Hotel [Member]
Initial Costs [Abstract]
Land	3,490
Buildings & Improvements	24,382
Costs Capitalized Subsequent to Acquisition [Abstract]
Buildings & Improvements	5,914
Gross Amounts at which Carried at Close of Period [Abstract]
Land	3,490
Buildings & Improvements	30,296
Total Real Estate	33,786
Accumulated Depreciation Buildings & Improvements	-10,619	[1]
Net Book Value Land, Buildings & Improvements	23,167
Date of Acquisition	15-Feb-06
Duane Street, Tribeca, NY [Member] \| Hotel [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	-9,352
Initial Costs [Abstract]
Land	8,213
Buildings & Improvements	12,869
Costs Capitalized Subsequent to Acquisition [Abstract]
Buildings & Improvements	1,276
Gross Amounts at which Carried at Close of Period [Abstract]
Land	8,213
Buildings & Improvements	14,145
Total Real Estate	22,358
Accumulated Depreciation Buildings & Improvements	-2,883	[1]
Net Book Value Land, Buildings & Improvements	19,475
Date of Acquisition	4-Jan-08
NU Hotel, Brooklyn, NY [Member] \| Hotel [Member]
Initial Costs [Abstract]
Buildings & Improvements	22,042
Costs Capitalized Subsequent to Acquisition [Abstract]
Buildings & Improvements	1,515
Gross Amounts at which Carried at Close of Period [Abstract]
Buildings & Improvements	23,557
Total Real Estate	23,557
Accumulated Depreciation Buildings & Improvements	-3,947	[1]
Net Book Value Land, Buildings & Improvements	19,610
Date of Acquisition	14-Jan-08
Hilton Garden Inn, Tribeca, NY [Member] \| Hotel [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	-46,500
Initial Costs [Abstract]
Land	21,077
Buildings & Improvements	42,955
Costs Capitalized Subsequent to Acquisition [Abstract]
Buildings & Improvements	583
Gross Amounts at which Carried at Close of Period [Abstract]
Land	21,077
Buildings & Improvements	43,538
Total Real Estate	64,615
Accumulated Depreciation Buildings & Improvements	-6,222	[1]
Net Book Value Land, Buildings & Improvements	58,393
Date of Acquisition	1-May-09
Hampton Inn, Times Square, NY [Member] \| Hotel [Member]
Initial Costs [Abstract]
Land	10,691
Buildings & Improvements	41,637
Costs Capitalized Subsequent to Acquisition [Abstract]
Buildings & Improvements	316
Gross Amounts at which Carried at Close of Period [Abstract]
Land	10,691
Buildings & Improvements	41,953
Total Real Estate	52,644
Accumulated Depreciation Buildings & Improvements	-5,163	[1]
Net Book Value Land, Buildings & Improvements	47,481
Date of Acquisition	9-Feb-10
Holiday Inn Express, Times Square, NY [Member] \| Hotel [Member]
Initial Costs [Abstract]
Land	11,075
Buildings & Improvements	43,113
Costs Capitalized Subsequent to Acquisition [Abstract]
Buildings & Improvements	54
Gross Amounts at which Carried at Close of Period [Abstract]
Land	11,075
Buildings & Improvements	43,167
Total Real Estate	54,242
Accumulated Depreciation Buildings & Improvements	-5,288	[1]
Net Book Value Land, Buildings & Improvements	48,954
Date of Acquisition	9-Feb-10
Candlewood Suites, Times Square, NY [Member] \| Hotel [Member]
Initial Costs [Abstract]
Land	10,281
Buildings & Improvements	36,687
Costs Capitalized Subsequent to Acquisition [Abstract]
Buildings & Improvements	44
Gross Amounts at which Carried at Close of Period [Abstract]
Land	10,281
Buildings & Improvements	36,731
Total Real Estate	47,012
Accumulated Depreciation Buildings & Improvements	-4,491	[1]
Net Book Value Land, Buildings & Improvements	42,521
Date of Acquisition	9-Feb-10
Hyatt Place, KOP, PA [Member] \| Hotel [Member]
Initial Costs [Abstract]
Land	1,133
Buildings & Improvements	7,267
Costs Capitalized Subsequent to Acquisition [Abstract]
Buildings & Improvements	4,012
Gross Amounts at which Carried at Close of Period [Abstract]
Land	1,133
Buildings & Improvements	11,279
Total Real Estate	12,412
Accumulated Depreciation Buildings & Improvements	-4,436	[1]
Net Book Value Land, Buildings & Improvements	7,976
Date of Acquisition	17-Aug-10
Holiday Inn Express, Wall Street, NY [Member] \| Hotel [Member]
Initial Costs [Abstract]
Land	12,152
Buildings & Improvements	21,100
Costs Capitalized Subsequent to Acquisition [Abstract]
Buildings & Improvements	323
Gross Amounts at which Carried at Close of Period [Abstract]
Land	12,152
Buildings & Improvements	21,423
Total Real Estate	33,575
Accumulated Depreciation Buildings & Improvements	-2,526	[1]
Net Book Value Land, Buildings & Improvements	31,049
Date of Acquisition	9-May-10
Hampton Inn, Washington, DC [Member] \| Hotel [Member]
Initial Costs [Abstract]
Land	9,335
Buildings & Improvements	58,048
Costs Capitalized Subsequent to Acquisition [Abstract]
Buildings & Improvements	1,191
Gross Amounts at which Carried at Close of Period [Abstract]
Land	9,335
Buildings & Improvements	59,239
Total Real Estate	68,574
Accumulated Depreciation Buildings & Improvements	-6,651	[1]
Net Book Value Land, Buildings & Improvements	61,923
Date of Acquisition	1-Sep-10
Courtyard Inn, Alexandria, VA [Member] \| Hotel [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	-23,403
Initial Costs [Abstract]
Land	6,376
Buildings & Improvements	26,089
Costs Capitalized Subsequent to Acquisition [Abstract]
Buildings & Improvements	2,555
Gross Amounts at which Carried at Close of Period [Abstract]
Land	6,376
Buildings & Improvements	28,644
Total Real Estate	35,020
Accumulated Depreciation Buildings & Improvements	-6,701	[1]
Net Book Value Land, Buildings & Improvements	28,319
Date of Acquisition	29-Sep-06
Sheraton, Wilmington South, DE [Member] \| Hotel [Member]
Initial Costs [Abstract]
Land	1,765
Buildings & Improvements	16,929
Costs Capitalized Subsequent to Acquisition [Abstract]
Buildings & Improvements	1,187
Gross Amounts at which Carried at Close of Period [Abstract]
Land	1,765
Buildings & Improvements	18,116
Total Real Estate	19,881
Accumulated Depreciation Buildings & Improvements	-2,902	[1]
Net Book Value Land, Buildings & Improvements	16,979
Date of Acquisition	21-Dec-10
Holiday Inn, Water Street, NY [Member] \| Hotel [Member]
Initial Costs [Abstract]
Land	7,341
Buildings & Improvements	28,591
Costs Capitalized Subsequent to Acquisition [Abstract]
Buildings & Improvements	326
Gross Amounts at which Carried at Close of Period [Abstract]
Land	7,341
Buildings & Improvements	28,917
Total Real Estate	36,258
Accumulated Depreciation Buildings & Improvements	-2,415	[1]
Net Book Value Land, Buildings & Improvements	33,843
Date of Acquisition	25-Mar-11
Capitol Hill Suites, Washington, DC [Member] \| Hotel [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	-26,639
Initial Costs [Abstract]
Land	8,095
Buildings & Improvements	35,141
Costs Capitalized Subsequent to Acquisition [Abstract]
Buildings & Improvements	3,874
Gross Amounts at which Carried at Close of Period [Abstract]
Land	8,095
Buildings & Improvements	39,015
Total Real Estate	47,110
Accumulated Depreciation Buildings & Improvements	-4,318
Net Book Value Land, Buildings & Improvements	42,792
Date of Acquisition	15-Apr-11
Courtyard, LA Westside, CA [Member] \| Hotel [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	-30,000
Initial Costs [Abstract]
Land	13,489
Buildings & Improvements	27,025
Costs Capitalized Subsequent to Acquisition [Abstract]
Buildings & Improvements	4,531
Gross Amounts at which Carried at Close of Period [Abstract]
Land	13,489
Buildings & Improvements	31,556
Total Real Estate	45,045
Accumulated Depreciation Buildings & Improvements	-3,142
Net Book Value Land, Buildings & Improvements	41,903
Date of Acquisition	19-May-11
Hampton Inn, Pearl Street, New York, NY [Member] \| Hotel [Member]
Initial Costs [Abstract]
Land	11,384
Buildings & Improvements	23,432
Costs Capitalized Subsequent to Acquisition [Abstract]
Buildings & Improvements	480
Gross Amounts at which Carried at Close of Period [Abstract]
Land	11,384
Buildings & Improvements	23,912
Total Real Estate	35,296
Accumulated Depreciation Buildings & Improvements	-295
Net Book Value Land, Buildings & Improvements	35,001
Date of Acquisition	22-Jul-11
Courtyard, Miami, FL [Member] \| Hotel [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	-60,000
Initial Costs [Abstract]
Land	35,699
Buildings & Improvements	55,805
Costs Capitalized Subsequent to Acquisition [Abstract]
Buildings & Improvements	22,163
Gross Amounts at which Carried at Close of Period [Abstract]
Land	35,699
Buildings & Improvements	77,968
Total Real Estate	113,667
Accumulated Depreciation Buildings & Improvements	-5,080
Net Book Value Land, Buildings & Improvements	108,587
Date of Acquisition	16-Nov-11
The Rittenhouse Hotel, Philadelphia, PA [Member] \| Hotel [Member]
Initial Costs [Abstract]
Land	7,108
Buildings & Improvements	29,556
Costs Capitalized Subsequent to Acquisition [Abstract]
Buildings & Improvements	13,661
Gross Amounts at which Carried at Close of Period [Abstract]
Land	7,108
Buildings & Improvements	43,217
Total Real Estate	50,325
Accumulated Depreciation Buildings & Improvements	-4,819
Net Book Value Land, Buildings & Improvements	45,506
Date of Acquisition	1-Mar-12
Bulfinch, Boston, MA [Member] \| Hotel [Member]
Initial Costs [Abstract]
Land	1,456
Buildings & Improvements	14,954
Costs Capitalized Subsequent to Acquisition [Abstract]
Buildings & Improvements	1,448
Gross Amounts at which Carried at Close of Period [Abstract]
Land	1,456
Buildings & Improvements	16,402
Total Real Estate	17,858
Accumulated Depreciation Buildings & Improvements	-1,338
Net Book Value Land, Buildings & Improvements	16,520
Date of Acquisition	7-May-12
Holiday Inn Express, Manhattan, NY [Member] \| Hotel [Member]
Initial Costs [Abstract]
Land	30,329
Buildings & Improvements	57,016
Costs Capitalized Subsequent to Acquisition [Abstract]
Buildings & Improvements	731
Gross Amounts at which Carried at Close of Period [Abstract]
Land	30,329
Buildings & Improvements	57,747
Total Real Estate	88,076
Accumulated Depreciation Buildings & Improvements	-3,805
Net Book Value Land, Buildings & Improvements	84,271
Date of Acquisition	18-Jun-12
Hyatt Union Square, New York, NY [Member] \| Hotel [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	-55,000
Initial Costs [Abstract]
Land	32,940
Buildings & Improvements	79,300
Costs Capitalized Subsequent to Acquisition [Abstract]
Buildings & Improvements	759
Gross Amounts at which Carried at Close of Period [Abstract]
Land	32,940
Buildings & Improvements	80,059
Total Real Estate	112,999
Accumulated Depreciation Buildings & Improvements	-3,499
Net Book Value Land, Buildings & Improvements	109,500
Date of Acquisition	9-Apr-13
Courtyard By Marriott, San Deigo, CA [Member] \| Hotel [Member]
Initial Costs [Abstract]
Land	15,656
Buildings & Improvements	51,674
Costs Capitalized Subsequent to Acquisition [Abstract]
Buildings & Improvements	274
Gross Amounts at which Carried at Close of Period [Abstract]
Land	15,656
Buildings & Improvements	51,948
Total Real Estate	67,604
Accumulated Depreciation Buildings & Improvements	-2,061
Net Book Value Land, Buildings & Improvements	65,543
Date of Acquisition	30-May-13
Residence Inn, Coconut Grove, FL [Member] \| Hotel [Member]
Initial Costs [Abstract]
Land	4,146
Buildings & Improvements	17,456
Costs Capitalized Subsequent to Acquisition [Abstract]
Buildings & Improvements	5,107
Gross Amounts at which Carried at Close of Period [Abstract]
Land	4,146
Buildings & Improvements	22,563
Total Real Estate	26,709
Accumulated Depreciation Buildings & Improvements	-953
Net Book Value Land, Buildings & Improvements	25,756
Date of Acquisition	12-Jun-13
Hotel Milo, Santa Barbara, California [Member] \| Hotel [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	-24,577
Initial Costs [Abstract]
Buildings & Improvements	55,080
Costs Capitalized Subsequent to Acquisition [Abstract]
Buildings & Improvements	193
Gross Amounts at which Carried at Close of Period [Abstract]
Buildings & Improvements	55,273
Total Real Estate	55,273
Accumulated Depreciation Buildings & Improvements	-1,156
Net Book Value Land, Buildings & Improvements	54,117
Date of Acquisition	28-Feb-14
Hilton Garden Inn, Midtown East, NY [Member] \| Hotel [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	-45,000
Initial Costs [Abstract]
Land	45,480
Buildings & Improvements	60,762
Costs Capitalized Subsequent to Acquisition [Abstract]
Buildings & Improvements	21
Gross Amounts at which Carried at Close of Period [Abstract]
Land	45,480
Buildings & Improvements	60,783
Total Real Estate	106,263
Accumulated Depreciation Buildings & Improvements	-908
Net Book Value Land, Buildings & Improvements	105,355
Date of Acquisition	27-May-14
Parrot Key Resort, Key West, FL [Member] \| Hotel [Member]
Initial Costs [Abstract]
Land	57,889
Buildings & Improvements	33,959
Costs Capitalized Subsequent to Acquisition [Abstract]
Buildings & Improvements	54
Gross Amounts at which Carried at Close of Period [Abstract]
Land	57,889
Buildings & Improvements	34,014
Total Real Estate	91,903
Accumulated Depreciation Buildings & Improvements	-555
Net Book Value Land, Buildings & Improvements	91,348
Date of Acquisition	7-May-14
Winter Haven, Miami Beach, FL [Member] \| Hotel [Member]
Initial Costs [Abstract]
Land	5,400
Buildings & Improvements	18,147
Costs Capitalized Subsequent to Acquisition [Abstract]
Buildings & Improvements	110
Gross Amounts at which Carried at Close of Period [Abstract]
Land	5,400
Buildings & Improvements	18,258
Total Real Estate	23,658
Accumulated Depreciation Buildings & Improvements	-477
Net Book Value Land, Buildings & Improvements	23,181
Date of Acquisition	20-Dec-13
Blue Moon, Miami Beach, FL [Member] \| Hotel [Member]
Initial Costs [Abstract]
Land	4,874
Buildings & Improvements	20,354
Costs Capitalized Subsequent to Acquisition [Abstract]
Buildings & Improvements	127
Gross Amounts at which Carried at Close of Period [Abstract]
Land	4,873
Buildings & Improvements	20,482
Total Real Estate	25,354
Accumulated Depreciation Buildings & Improvements	-498
Net Book Value Land, Buildings & Improvements	$24,856
Date of Acquisition	20-Dec-13

[1]	Assets are depreciated over a 7 to 40 year life, upon which the latest income statement is computed

Schedule_III_Real_Estate_And_A3

Schedule III - Real Estate And Accumulated Depreciation (Reconciliation Of Real Estate and Accumulated Depreciation) (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Reconciliation of Real Estate [Roll Forward]
Balance at beginning of year	$1,629,312	$1,520,151	$1,481,433
Additions during the year	333,889	275,032	167,916
Dispositions / Deconsolidation of consolidated joint venture during the year	-98,819	-156,504	-127,992
Changes/Impairments in Assets Held for Sale		-9,367	-1,206
Investment in Real Estate	1,864,382	1,629,312	1,520,151
Total Real Estate	1,864,382	1,629,312	1,520,151
Reconciliation of Accumulated Depreciation [Roll Forward]
Balance at beginning of year	162,189	150,353	139,057
Depreciation for year	43,218	39,771	35,597
Changes/Impairments in Assets Held for Sale		51
Accumulated depreciation on assets sold	-15,518	-27,986	-24,301
Balance at end of year	$189,889	$162,189	$150,353