Hersha Hospitality Trust (HT) 10-Q 28 Jul 21 2021 Q2 Quarterly report Financial data

Cover page

Cover page - shares	6 Months Ended
	Jun. 30, 2021	Jul. 28, 2021
Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
Document Transition Report	false
Entity File Number	001-14765
Entity Registrant Name	HERSHA HOSPITALITY TRUST
Entity Incorporation, State	MD
Entity Tax Identification Number	25-1811499
Entity Address, Street	44 Hersha Drive
Entity Address, City	Harrisburg
Entity Address, State	PA
Entity Address, Postal Zip Code	17102
City Area Code	717
Local Phone Number	236-4400
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001063344
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Amendment Flag	false
Class A Common Shares
Entity Information
Title of each class	Class A Common Shares of Beneficial Interest, par value $.01 per share
Trading Symbol(s)	HT
Name of each exchange on which registered	NYSE
Entity Common Stock, Shares Outstanding (in shares)		39,217,475
Series C Preferred Shares
Entity Information
Title of each class	6.875% Series C Cumulative Redeemable Preferred Shares of Beneficial Interest, par $.01 per share
Trading Symbol(s)	HT-PC
Name of each exchange on which registered	NYSE
Series D Preferred Shares
Entity Information
Title of each class	6.500% Series D Cumulative Redeemable Preferred Shares of Beneficial Interest, par $.01 per share
Trading Symbol(s)	HT-PD
Name of each exchange on which registered	NYSE
Series E Preferred Shares
Entity Information
Title of each class	6.500% Series E Cumulative Redeemable Preferred Shares of Beneficial Interest, par $.01 per share
Trading Symbol(s)	HT-PE
Name of each exchange on which registered	NYSE
Class B Common Shares
Entity Information
Entity Common Stock, Shares Outstanding (in shares)		0

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Assets:
Investment in Hotel Properties, Net of Accumulated Depreciation	$ 1,699,230	$ 1,784,838
Investment in Unconsolidated Joint Ventures	5,936	6,633
Cash and Cash Equivalents	69,083	16,637
Escrow Deposits	11,067	6,970
Hotel Accounts Receivable	5,539	5,690
Due from Related Parties	1,552	2,641
Intangible Assets, Net of Accumulated Amortization of $6,827 and $6,840	1,465	1,739
Right of Use Assets	43,467	44,126
Other Assets	20,395	15,494
Hotel Assets Held for Sale	0	96,220
Total Assets	1,857,734	1,980,988
Liabilities and Equity:
Line of Credit	118,684	133,053
Term Loans, Net of Unamortized Deferred Financing Costs (Note 5)	495,657	681,744
Unsecured Notes Payable, Net of Unamortized Discount and Unamortized Deferred Financing Costs (Note 5)	193,725	50,789
Mortgages Payable, Net of Unamortized Premium and Unamortized Deferred Financing Costs	304,426	330,848
Lease Liabilities	53,455	53,852
Accounts Payable, Accrued Expenses and Other Liabilities	49,088	58,453
Dividends and Distributions Payable	6,044	0
Total Liabilities	1,221,079	1,308,739
Redeemable Noncontrolling Interests - Consolidated Joint Venture (Note 1)	1,968	0
Shareholders' Equity:
Preferred Shares:  $.01 Par Value, 29,000,000 Shares Authorized, 3,000,000 Series C, 7,701,700 Series D and 4,001,514 Series E Shares Issued and Outstanding at June 30, 2021 and December 31, 2020, with Liquidation Preferences of $25.00 Per Share (Note 1)	147	147
Accumulated Other Comprehensive Loss	(11,024)	(19,275)
Additional Paid-in Capital	1,153,657	1,150,985
Distributions in Excess of Net Income	(557,157)	(509,243)
Total Shareholders' Equity	586,015	623,003
Noncontrolling Interests (Note 1)	48,672	49,246
Total Equity	634,687	672,249
Total Liabilities and Equity	1,857,734	1,980,988
Class A Common Shares
Shareholders' Equity:
Common Shares	392	389
Class B Common Shares
Shareholders' Equity:
Common Shares	$ 0	$ 0

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Assets:
Intangible assets, accumulated amortization	$ 6,827	$ 6,840
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 - outstanding (in shares)	14,703,214	14,703,214
Series C, D and E Preferred Shares
Shareholders' Equity:
Preferred shares - liquidation preference value (in dollars per share)	$ 25	$ 25
Series C Preferred Shares
Shareholders' Equity:
Preferred shares - issued (in shares)	3,000,000	3,000,000
Preferred shares - outstanding (in shares)	3,000,000	3,000,000
Series D Preferred Shares
Shareholders' Equity:
Preferred shares - issued (in shares)	7,701,700	7,701,700
Preferred shares - outstanding (in shares)	7,701,700	7,701,700
Series E Preferred Shares
Shareholders' Equity:
Preferred shares - issued (in shares)	4,001,514	4,001,514
Preferred shares - outstanding (in shares)	4,001,514	4,001,514
Class A Common Shares
Shareholders' Equity:
Common shares - par value (in dollars per share)	$ 0.01	$ 0.01
Common shares - authorized (in shares)	104,000,000	104,000,000
Common shares - issued (in shares)	39,217,475	38,843,482
Common shares - outstanding (in shares)	39,217,475	38,843,482
Class B Common Shares
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 STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenue:
Other Revenues		$ 13	$ 29	$ 25	$ 228
Total Revenues		70,096	17,441	117,261	107,578
Operating Expenses:
Hotel Operating Expenses		2,465	775
Insurance recoveries in excess of property loss		(711)	0	(711)	0
Hotel Ground Rent		1,064	1,058	2,164	2,121
Real Estate and Personal Property Taxes and Property Insurance		9,466	9,969	19,537	19,911
General and Administrative (including Share Based Payments of $2,589 and $1,799 and $4,758 and $4,255 for the three and six months ended June 30, 2021 and 2020, respectively)		5,287	4,187	10,231	10,021
Terminated Transaction Costs		36	0	390	0
Loss on Impairment of Assets		222	1,069	222	1,069
Depreciation and Amortization		21,014	24,322	42,816	48,510
Total Operating Expenses		77,688	58,983	148,139	165,529
Operating Loss		(7,592)	(41,542)	(30,878)	(57,951)
Interest Income		4	2	5	38
Interest Expense		(14,982)	(13,481)	(28,411)	(26,488)
Other Income (Expense)		(84)	(385)	377	(457)
Gain on Disposition of Hotel Properties		0	0	48,352	0
Loss on Debt Extinguishment		(129)	0	(3,069)	0
Loss Before Results from Unconsolidated Joint Venture Investments and Income Taxes		(22,783)	(55,406)	(13,624)	(84,858)
Loss from Unconsolidated Joint Ventures		(589)	(502)	(1,247)	(1,520)
Loss Before Income Taxes		(23,372)	(55,908)	(14,871)	(86,378)
Income Tax Benefit (Expense)		(151)	(15,872)	438	(11,374)
Net Loss		(23,523)	(71,780)	(14,433)	(97,752)
Preferred Distributions		(6,044)	(6,044)	(12,087)	(12,088)
Net Loss Applicable to Common Shareholders		$ (28,590)	$ (67,464)	$ (25,707)	$ (96,583)
BASIC
Income (Loss) from Continuing Operations Applicable to Common Shareholders (in dollars per share)		$ (0.73)	$ (1.75)	$ (0.66)	$ (2.50)
DILUTED
Income (Loss) from Continuing Operations Applicable to Common Shareholders (in dollars per share)		$ (0.73)	$ (1.75)	$ (0.66)	$ (2.50)
Weighted Average Common Shares Outstanding:
Basic (in shares)		39,097,820	38,609,922	39,034,707	38,587,011
Diluted (in shares)	[1]	39,097,820	38,609,922	39,034,707	38,587,011
Noncontrolling Interest | Consolidated joint venture
Operating Expenses:
Net Loss		$ 0		$ (158)
(Income) Loss Allocated to Noncontrolling Interests		(1,968)	$ 3,196	(1,810)	$ 3,196
Noncontrolling Interest | Common Shares
Operating Expenses:
Net Loss		(2,945)	(7,164)	(2,623)	(10,061)
(Income) Loss Allocated to Noncontrolling Interests		2,945	7,164	2,623	10,061
Room
Revenue:
Hotel Operating Revenues:		56,539	15,139	95,889	86,222
Operating Expenses:
Hotel Operating Expenses		12,350	3,622	21,548	22,714
Food & Beverage
Revenue:
Hotel Operating Revenues:		7,230	136	10,304	10,211
Operating Expenses:
Hotel Operating Expenses		5,409	721	8,282	11,342
Other Operating
Revenue:
Hotel Operating Revenues:		6,314	2,137	11,043	10,917
Operating Expenses:
Hotel Operating Expenses		$ 23,551	$ 14,035	$ 43,660	$ 49,841
[1]	Income (Loss) allocated to noncontrolling interest in Hersha Hospitality Limited Partnership (the “Operating Partnership” or “HHLP”) has been excluded from the numerator and the Class A common shares issuable upon any redemption of the Operating Partnership’s common units of limited partnership interest (“Common Units”) and the Operating Partnership’s vested LTIP units (“Vested LTIP Units”) have been omitted from the denominator for the purpose of computing diluted earnings per share because the effect of including these shares and units in the numerator and denominator would have no impact. In addition, potentially dilutive common shares, if any, have been excluded from the denominator if they are anti-dilutive to income (loss) applicable to common shareholders.

CONSOLIDATED STATEMENTS OF OP_2

CONSOLIDATED STATEMENTS OF OPERATIONS (Parentheticals) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Share based payments	$ 2,589	$ 1,799	$ 4,758	$ 4,255
Antidilutive securities excluded from computation of earnings per share (in shares)	5,627,148	4,676,388	5,490,461	4,839,454
Common Units and Vested LTIP Units
Antidilutive securities excluded from computation of earnings per share (in shares)	4,279,355	3,943,319	4,314,347	3,891,032
Unvested Stock Awards and LTIP Units Outstanding
Antidilutive securities excluded from computation of earnings per share (in shares)	939,591	547,315	581,989	267,443
Contingently Issuable Share Awards
Antidilutive securities excluded from computation of earnings per share (in shares)	408,202	185,754	594,125	680,979

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Net Loss	$ (23,523)	$ (71,780)	$ (14,433)	$ (97,752)
Other Comprehensive Income (Loss)
Change in Fair Value of Derivative Instruments	2,539	(2,020)	9,004	(33,146)
Reclassification Adjustment for Change in Fair Value of Derivative Instruments Included in Net Income (Loss)	(141)	1,228	159	2,205
Total Other Comprehensive Income (Loss)	2,398	(792)	9,163	(30,941)
Comprehensive Loss	(21,125)	(72,572)	(5,270)	(128,693)
Preferred Distributions	(6,044)	(6,044)	(12,087)	(12,088)
Comprehensive Loss Attributable to Common Shareholders	(26,425)	(68,150)	(17,456)	(124,690)
Noncontrolling Interest | Common units
Net Loss	(2,945)	(7,164)	(2,623)	(10,061)
Other Comprehensive Income (Loss)
Less:  Comprehensive (income) loss attributable to noncontrolling interests	2,712	7,270	1,711	12,895
Noncontrolling Interest | Consolidated joint venture
Net Loss	0		(158)
Other Comprehensive Income (Loss)
Less:  Comprehensive (income) loss attributable to noncontrolling interests	$ (1,968)	$ 3,196	$ (1,810)	$ 3,196

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Thousands	Total	Common Shares	Common SharesClass A Common Shares	Common SharesClass B Common Shares	Preferred Shares	Additional Paid-In Capital	Accumulated Other Comprehensive Loss	Distributions in Excess of Net Income	Total Shareholders' Equity	Noncontrolling InterestConsolidated joint venture	Noncontrolling InterestCommon Shares	Total Equity
Balance at Dec. 31, 2019			$ 387	$ 0	$ 147	$ 1,144,808	$ 1,010	$ (338,695)	$ 807,657	$ 3,196	$ 64,144	$ 871,801
Balance (in shares) at Dec. 31, 2019		38,652,650			14,703,214						4,279,946
Increase (Decrease) in Stockholders' Equity
Unit Conversion						(30)			(30)			(30)
Dividends and Distributions declared:
Preferred Stock								(1,007)	(1,007)			(1,007)
Dividend Reinvestment Plan	$ 14					14			14			14
Dividend Reinvestment Plan (in shares)		1,094
Share Based Compensation:
Grants			1			0			1		$ 0	1
Grants (in shares)		135,627									1,101,924
Amortization						1,303			1,303		$ 4,466	5,769
Change in Fair Value of Derivative Instruments	(30,941)						(28,107)		(28,107)		(2,834)	(30,941)
Adjustment to Record Noncontrolling Interest at Redemption Value						3,196			3,196	(3,196)		3,196
Net (loss) income	(97,752)							(87,691)	(87,691)		(10,061)	(97,752)
Balance at Jun. 30, 2020			388	0	$ 147	1,149,291	(27,097)	(427,393)	695,336	0	$ 55,715	751,051
Balance (in shares) at Jun. 30, 2020		38,789,371			14,703,214						5,381,870
Balance at Mar. 31, 2020			387	0	$ 147	1,145,450	(26,411)	(362,777)	756,796	3,196	$ 59,162	815,958
Balance (in shares) at Mar. 31, 2020		38,673,242			14,703,214						4,279,946
Increase (Decrease) in Stockholders' Equity
Issuance Costs						(10)			(10)			(10)
Share Based Compensation:
Grants			1						1			1
Grants (in shares)		116,129									1,101,924
Amortization						655			655		$ 3,823	4,478
Change in Fair Value of Derivative Instruments	(792)						(686)		(686)		(106)	(792)
Adjustment to Record Noncontrolling Interest at Redemption Value						3,196			3,196	(3,196)		3,196
Net (loss) income	(71,780)							(64,616)	(64,616)		(7,164)	(71,780)
Balance at Jun. 30, 2020			388	0	$ 147	1,149,291	(27,097)	(427,393)	695,336	0	$ 55,715	751,051
Balance (in shares) at Jun. 30, 2020		38,789,371			14,703,214						5,381,870
Balance at Dec. 31, 2020	672,249		389	0	$ 147	1,150,985	(19,275)	(509,243)	623,003	0	$ 49,246	672,249
Balance (in shares) at Dec. 31, 2020		38,843,482			14,703,214						5,392,808
Increase (Decrease) in Stockholders' Equity
Unit Conversion			2			2,870			2,872		$ (2,872)
Unit Conversion (in shares)		225,000									(225,000)
Dividends and Distributions declared:
Preferred Stock								(36,262)	(36,262)			(36,262)
Dividend Reinvestment Plan	0
Share Based Compensation:
Grants			1			356			357		$ 1,683	2,040
Grants (in shares)		148,993									794,683
Amortization						1,414			1,414		$ 2,326	3,740
Change in Fair Value of Derivative Instruments	(9,163)						8,251		8,251		912	9,163
Adjustment to Record Noncontrolling Interest at Redemption Value						(1,968)			(1,968)	1,968		(1,968)
Equity Contribution to Consolidated Joint Venture										158
Net (loss) income	(14,433)							(11,652)	(11,652)	(158)	(2,623)	(14,275)
Balance at Jun. 30, 2021	634,687		392	0	$ 147	1,153,657	(11,024)	(557,157)	586,015	1,968	$ 48,672	634,687
Balance (in shares) at Jun. 30, 2021		39,217,475			14,703,214						5,962,491
Balance at Mar. 31, 2021			391	0	$ 147	1,154,579	(12,509)	(530,535)	612,073	0	$ 49,172	661,245
Balance (in shares) at Mar. 31, 2021		39,132,307			14,703,214						5,943,014
Dividends and Distributions declared:
Preferred Stock								(6,044)	(6,044)			(6,044)
Share Based Compensation:
Grants			1			365			366		$ 65	431
Grants (in shares)		85,168									19,477
Amortization						681			681		$ 1,468	2,149
Change in Fair Value of Derivative Instruments	2,398						1,485		1,485		912	2,397
Adjustment to Record Noncontrolling Interest at Redemption Value						(1,968)			(1,968)	1,968		(1,968)
Net (loss) income	(23,523)							(20,578)	(20,578)	0	(2,945)	(23,523)
Balance at Jun. 30, 2021	$ 634,687		$ 392	$ 0	$ 147	$ 1,153,657	$ (11,024)	$ (557,157)	$ 586,015	$ 1,968	$ 48,672	$ 634,687
Balance (in shares) at Jun. 30, 2021		39,217,475			14,703,214						5,962,491

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Operating Activities:
Net Loss	$ (14,433)	$ (97,752)
Adjustments to Reconcile Net Loss to Net Cash Provided by Operating Activities:
Gain on Disposition of Hotel Properties	(48,352)	0
Loss on Impairment of Assets	222	1,069
Insurance recoveries in excess of property loss	(711)	0
Junior Note PIK Interest Added to Principal	2,514	0
Deferred Taxes	(499)	11,390
Depreciation	42,642	48,273
Amortization	2,594	1,116
Loss on Debt Extinguishment	634	0
Equity in Loss of Unconsolidated Joint Ventures	1,247	1,520
Loss Recognized on Change in Fair Value of Derivative Instrument	159	2,205
Share Based Compensation Expense	4,758	4,255
(Increase) Decrease in:
Hotel Accounts Receivable	151	5,412
Other Assets	(4,055)	4,884
Due from Related Parties	1,089	3,750
Increase (Decrease) in:
Accounts Payable, Accrued Expenses and Other Liabilities	4,933	(2,479)
Net Cash Used in Operating Activities	(7,107)	(16,357)
Investing Activities:
Capital Expenditures	(5,374)	(15,612)
Hotel Development Projects	0	21
Proceeds from Disposition of Hotel Properties	163,583	0
Contributions to Unconsolidated Joint Ventures	(550)	(600)
Net Cash Provided by (Used in) Investing Activities	157,659	(16,191)
Financing Activities:
(Repayments) Borrowings on Line of Credit, Net	(14,369)
(Repayments) Borrowings on Line of Credit, Net		47,000
Payments on Term Loans	(187,024)	0
Proceeds from Notes Payable	144,750	0
Principal Repayment of Mortgages	(1,353)	(650)
Proceeds of Paycheck Protection Program ("PPP") Loans	0	18,936
Repayment of PPP Loans	0	(18,936)
Deferred Financing Costs	(5,795)	(2,104)
Dividends Paid on Common Shares	0	(10,809)
Dividends Paid on Preferred Shares	(30,218)	(6,044)
Distributions Paid on Common Units and LTIP Units	0	(1,198)
Other Financing Activities	0	(30)
Net Cash (Used in) Provided by Financing Activities	(94,009)	26,165
Net Increase (Decrease) in Cash, Cash Equivalents, and Restricted Cash	56,543	(6,383)
Cash, Cash Equivalents, and Restricted Cash - Beginning of Period	23,607	36,985
Cash, Cash Equivalents, and Restricted Cash - End of Period	$ 80,150	$ 30,602

BASIS OF PRESENTATION

BASIS OF PRESENTATION	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis Of Presentation	The accompanying unaudited consolidated financial statements of Hersha Hospitality Trust (“we,” “us,” “our” or the “Company”) have been prepared in accordance with U.S. generally accepted accounting principles (“US GAAP”) for interim financial information and with the general instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and notes required by US GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals), considered necessary for a fair presentation have been included. Operating results for the three and six months ended June 30, 2021 are not necessarily indicative of the results that may be expected for the year ending December 31, 2021 or any future period. Accordingly, readers of these consolidated interim financial statements should refer to the Company’s audited financial statements prepared in accordance with US GAAP, and the related notes thereto, for the year ended December 31, 2020, which are included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, as certain footnote disclosures normally included in financial statements prepared in accordance with US GAAP have been condensed or omitted from this report pursuant to the rules of the Securities and Exchange Commission. We are a self-administered Maryland real estate investment trust that was organized in May 1998 and completed our initial public offering in January 1999. Our common shares are traded on the New York Stock Exchange (the “NYSE”) under the symbol “HT.” We own our hotels and our investments in joint ventures through our operating partnership, Hersha Hospitality Limited Partnership (“HHLP” or “the Partnership”), for which we serve as the sole general partner. As of June 30, 2021, we owned an approximate 86.8% partnership interest in HHLP, including a 1.0% general partnership interest. Principles of Consolidation and Presentation The accompanying consolidated financial statements have been prepared in accordance with US GAAP and include all of our accounts as well as accounts of the Partnership, subsidiary partnerships and our wholly owned Taxable REIT Subsidiary Lessee (“TRS Lessee”), 44 New England Management Company. All significant inter-company amounts have been eliminated. 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. Variable Interest Entities We evaluate each of our investments and contractual relationships to determine whether they meet the guidelines for consolidation. 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, there have been no changes to the operating structure of our legal entities during the three and six months ended June 30, 2021 and, therefore, there are no changes to our evaluation of VIE's as presented within our annual report presented on Form 10-K for the year ended December 31, 2020. NOTE 1 - BASIS OF PRESENTATION (CONTINUED) Noncontrolling Interest We classify the noncontrolling interests of our common units of limited partnership interest in HHLP (“Common Units”), and Long Term Incentive Plan Units (“LTIP Units”) as equity. LTIP Units are a separate class of limited partnership interest in the Operating Partnership that are convertible into Common Units under certain circumstances. The noncontrolling interest of Common Units and LTIP Units totaled $48,672 as of June 30, 2021 and $49,246 as of December 31, 2020. As of June 30, 2021, there w ere 5,962,491 Common Units and LTIP Units outstanding with a fair market value of $64,156, based on the price per share of our common shares on the NYSE on such date. In accordance with the partnership agreement of HHLP, holders of these Common 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. Net income or loss attributed to Common Units and LTIP Units is included in net income or loss but excluded from net income or loss applicable to common shareholders in the consolidated statements of operations. We are party to a joint venture that owns the Ritz-Carlton Coconut Grove, FL, in which our joint venture partner has a noncontrolling equity interest of 15% in the property. Hersha Holding RC Owner, LLC, the owner entity of the Ritz-Carlton Coconut Grove joint venture ("Ritz Coconut Grove"), will distribute income based on cash available for distribution which will be distributed as follows: (1) to us until we receive a cumulative return on our contributed senior common equity interest, currently at 8%, and (2) then to the owner of the noncontrolling interest until they receive a cumulative return on their contributed junior common equity interest, currently at 8%, and (3) then 75% to us and 25% to the owner of the noncontrolling interest until we both receive a cumulative return on our contributed senior common equity interest, currently at 12%, and (4) finally, any remaining operating profit shall be distributed 70% to us and 30% to the owner of the noncontrolling interest. Additionally, the noncontrolling interest in the Ritz Coconut Grove has the right to put their ownership interest to us for cash consideration at any time during the life of the venture. The balance sheets and financial results of the Ritz Coconut Grove are included in our consolidated financial statements and book value of the noncontrolling interest in the Ritz Coconut Grove is classified as temporary equity within our Consolidated Balance Sheets. The noncontrolling interest in the Ritz Coconut Grove is measured at the greater of historical cost or the put option redemption value. For the three and six months ended June 30, 2021, based on the income allocation methodology described above, the noncontrolling interest in this joint venture was allocated losses of $0 and $158, respectively. For the three and six months ended June 30, 2020, based on the income allocation methodology described above, the noncontrolling interest in this joint venture was allocated loss of $0. This is recorded as part of the Loss Allocated to Noncontrolling Interests line item within the Consolidated Statements of Operations. On June 30, 2021, we reclassified $1,968 from Additional Paid in Capital to Redeemable Noncontrolling Interests - Consolidated Joint Venture to value the noncontrolling interest at the put option redemption value of $1,968. Shareholders’ Equity Terms of the Series C, Series D, and Series E Preferred Shares outstanding at June 30, 2021 and December 31, 2020 are summarized as follows: Dividend Per Share (1) Shares Outstanding Six Months Ended June 30, Series June 30, 2021 December 31, 2020 Aggregate Liquidation Preference Distribution Rate 2021 2020 Series C 3,000,000 3,000,000 $ 75,000 6.875 % $ 2.5782 $ — Series D 7,701,700 7,701,700 $ 192,500 6.500 % $ 2.4378 $ — Series E 4,001,514 4,001,514 $ 100,000 6.500 % $ 2.4378 $ — Total 14,703,214 14,703,214 NOTE 1 - BASIS OF PRESENTATION (CONTINUED) (1) During the six months ended June 30, 2020, we suspended the payment of our preferred dividends. During the six months ended June 30, 2021, the Company paid cash dividends on the Company's Series C, Series D and Series E cumulative redeemable preferred stock reflecting accrued and unpaid dividends for the dividend periods ended April 15, 2020, July 15, 2020, October 15, 2020 and January 15, 2021. In addition, the Company paid a cash dividend on all Series of cumulative redeemable preferred stock for the first dividend period ending April 15, 2021 and declared a similar cash dividend for the second dividend period ending July 15, 2021, which is payable July 15, 2021 to holders of record as of July 1, 2021. Liquidity and Management's Plan Due to the COVID-19 pandemic and the effects of travel restrictions both globally and in the United States, the hospitality industry has experienced drastic drops in demand. The global impact of the pandemic has been rapidly evolving and, in the United States, certain states and cities, including most of the states and cities where we own properties, have reacted by instituting various restrictive measures such as quarantines, restrictions on travel, school closings, "stay at home" rules and restrictions on types of business that may continue to operate. We believe the ongoing effects of the COVID-19 pandemic on our operations have had, and will continue to have a material negative impact on our financial results and liquidity, and such negative impact may continue beyond the containment of the pandemic. In February of 2021, we entered into an unsecured notes facility that provided net proceeds of $144,750 and access to an incremental $50,000, which can be drawn through September 30, 2021. The initial net proceeds of $144,750 provided by this facility, along with a portion of the proceeds from asset sales, were used to repay amounts outstanding under our senior secured credit facility and our two secured term loans and allowed us to negotiate amendments to this senior facility. The amendments to the senior secured credit facility and two secured term loans eliminated term loan maturities until August of 2022, waived all financial covenants through March 31, 2022, established accommodative covenant testing methodology through December 31, 2022, enabled the Company to pay down the accrual of the Company's preferred dividends, allow the ongoing preferred dividend accrual to be kept current, and provided additional liquidity to be used at the Company's discretion. We cannot assure you that our assumptions used to estimate our liquidity requirements will be correct because the lodging industry has not previously experienced such an abrupt and drastic reduction in hotel demand, and as a consequence, our ability to be predictive is uncertain. In addition, the magnitude, duration, and speed of the pandemic is uncertain and we cannot estimate when travel demand will recover. Based on the amendments, the Company believes that it has sufficient liquidity to meet its obligations for the next twelve months. Investment in Hotel Properties Investments in hotel properties are recorded at cost. Improvements and replacements are capitalized when they extend the useful life of the asset. Costs of repairs and maintenance are expensed as incurred. Depreciation is computed using the straight-line method over the estimated useful life of up to 40 years for buildings and improvements, two These assessments have a direct impact on our net income because if we were to shorten the expected useful lives of our investments in hotel properties we would depreciate these investments over fewer years, resulting in more depreciation expense and lower net income on an annual basis. Identifiable assets, liabilities, and noncontrolling interests related to hotel properties acquired are recorded at fair value. Estimating techniques and assumptions used in determining fair values involve significant estimates and judgments. These estimates and judgments have a direct impact on the carrying value of our assets and liabilities which can directly impact the amount of depreciation expense recorded on an annual basis and could have an impact on our assessment of potential impairment of our investment in hotel properties. 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. We evaluate each disposition to determine whether we need to classify the disposition as discontinued operations. We generally include the operations of a hotel that was sold or a hotel that has been classified as held for sale in continuing operations unless the sale represents a strategic shift that will have a major impact on our future operations and financial results. We anticipate that most of our hotel dispositions will not be classified as discontinued operations as most will not fit this definition. NOTE 1 - BASIS OF PRESENTATION (CONTINUED) Based on the occurrence of certain events or changes in circumstances, we review the recoverability of the property’s carrying value. Such events or changes in circumstances include the following: • a significant decrease in the market price of a long-lived asset; • a significant adverse change in the extent or manner in which a long-lived asset is being used or in its physical condition; • a significant adverse change in legal factors or in the business climate that could affect the value of a long-lived asset, including an adverse action or assessment by a regulator; • an accumulation of costs significantly in excess of the amount originally expected for the acquisition or construction of a long-lived asset; • a current-period operating or cash flow loss combined with a history of operating or cash flow losses or a projection or forecast that demonstrates continuing losses associated with the use of a long-lived asset; and • a current expectation that, it is more likely than not that, a long-lived asset will be sold or otherwise disposed of significantly before the end of its previously estimated useful life. We review our portfolio on an ongoing basis to evaluate the existence of any of the aforementioned events or changes in circumstances that would require us to test for recoverability. In general, our review of recoverability is based on an estimate of the future undiscounted cash flows, excluding interest charges, expected to result from the property’s use and eventual disposition. These estimates consider factors such as expected future operating income, market and other applicable trends and residual value expected, as well as the effects of hotel demand, competition and other factors. Other assumptions used in the review of recoverability include the holding period and expected terminal capitalization rate. If impairment exists due to the inability to recover the carrying value of a property, an impairment loss is recorded to the extent that the carrying value exceeds the estimated fair value of the property. We are required to make subjective assessments as to whether there are impairments in the values of our investments in hotel properties. As of June 30, 2021, based on our analysis, we have determined that the estimated future cash flow of each of the properties in our portfolio is sufficient to recover its respective carrying value, after recording an impairment charge prior to the disposition of the Duane Street hotel. NOTE 1 - BASIS OF PRESENTATION (CONTINUED) New Accounting Pronouncements In March 2020, the Financial Accounting Standards Board ("FASB") issued ASU No. 2020-4, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting and in January 2021, the FASB issued 2021-01, Reference Rate Reform (Topic 848), Scope, which further clarified the scope of the reference rate reform optional practical expedients and exceptions outlined in Topic 848. As a result of identified structural risks of interbank offered rates, in particular, the London Interbank Offered Rate (LIBOR), reference rate reform is underway to identify alternative reference rates that are more observable or transaction based. The update provides guidance in accounting for changes in contracts, hedging relationships, and other transactions as a result of this reference rate reform. The optional expedients and exceptions contained within these updates, in general, only apply to contract amendments and modifications entered into prior to January 1, 2023. The provisions of these updates that will most likely affect our financial reporting process related to modifications of contracts with lenders and the related hedging contracts associated with each respective modified borrowing contract. In general, the provisions of these updates would impact the Company by allowing, among other things, the following: • Allowing modifications of debt contracts with lenders that fall under the guidance of ASC Topic 470 to be accounted for as a non-substantial modification and not be considered a debt extinguishment. • Allowing a change to contractual terms of a hedging instrument in conjunction with reference rate reform to not require a dedesignation of the hedging relationship. • Allowing a change to the interest rate used for margining, discounting, or contract price alignment for a derivative that is a cash flow hedge to not be considered a change to the critical terms of the hedge and will not require a dedesignation of the hedging relationship. We have not entered into any contract modifications yet, as it directly relates to reference rate reform but we anticipate having to undertake such modifications in the future as a majority of our contracts with lenders and hedging counterparties are indexed to LIBOR. While we anticipate the impact of this update to be to the benefit of the Company, we are still evaluating the overall impact to the Company.

INVESTMENT IN HOTEL PROPERTIES

INVESTMENT IN HOTEL PROPERTIES	6 Months Ended
	Jun. 30, 2021
Property, Plant and Equipment [Abstract]
INVESTMENT IN HOTEL PROPERTIES	INVESTMENT IN HOTEL PROPERTIES Investment in hotel properties consists of the following at June 30, 2021 and December 31, 2020: June 30, 2021 December 31, 2020 Land $ 478,413 $ 488,463 Buildings and Improvements 1,557,840 1,611,144 Furniture, Fixtures and Equipment 271,977 281,440 Construction in Progress 1,489 987 2,309,719 2,382,034 Less Accumulated Depreciation (610,489) (597,196) Total Investment in Hotel Properties * $ 1,699,230 $ 1,784,838 * The net book value of investment in hotel property at Ritz Coconut Grove, which is a variable interest entity, is $40,937 and $42,487 at June 30, 2021 and December 31, 2020, respectively. Acquisitions For the six months ended June 30, 2021 and 2020, we acquired no hotel properties. Hotel Dispositions For the six months ended June 30, 2020, we had no hotel dispositions. During the six months ended June 30, 2021, we had the following hotel dispositions: Hotel Acquisition Disposition Consideration Gain on Courtyard San Diego, CA 05/30/2013 02/19/2021 $ 64,500 $ 5,037 The Capitol Hill Hotel Washington, DC 04/15/2011 03/09/2021 51,000 12,990 Holiday Inn Express Cambridge, MA 05/03/2006 03/09/2021 32,000 20,281 Residence Inn Miami Coconut Grove, FL 06/12/2013 03/10/2021 31,000 10,005 Duane Street Hotel (1) 01/04/2008 05/13/2021 18,000 — 2021 Total $ 48,313 (1)During the second quarter of 2020, the Company determined that the carrying value of the Duane Street hotel exceeded the anticipated net proceeds from sale, resulting in a $1,069 impairment charge recorded during the second quarter of 2020. We recorded an additional impairment charge of $147 prior to the disposition of the hotel property during the six months ended June 30, 2021. Assets Held For Sale We classified the assets of the Duane Street Hotel, the Residence Inn Coconut Grove and the Courtyard San Diego as held for sale as of December 31, 2020, all of which closed during the six months ended June 30, 2021. The table below shows the balances for the properties that were classified as assets held for sale as of December 31, 2020: December 31, 2020 Land $ 28,015 Buildings and Improvements 93,314 Furniture, Fixtures and Equipment 15,469 136,798 Less Accumulated Depreciation (40,578) Assets Held for Sale $ 96,220

INVESTMENT IN UNCONSOLIDATED JO

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES	6 Months Ended
	Jun. 30, 2021
Equity Method Investments and Joint Ventures [Abstract]
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES	INVESTMENT IN UNCONSOLIDATED JOINT VENTURES As of June 30, 2021 and December 31, 2020, our investment in unconsolidated joint ventures consisted of the following: Joint Venture Hotel Properties Percent Owned June 30, 2021 December 31, 2020 Cindat Hersha Owner JV, LLC Hilton and IHG branded hotels in NYC 31.2 % * $ — $ — Hiren Boston, LLC Courtyard by Marriott, South Boston, MA 50 % 29 219 SB Partners, LLC Holiday Inn Express, South Boston, MA 50 % — — SB Partners Three, LLC Home2 Suites, South Boston, MA 50 % 5,907 6,414 $ 5,936 $ 6,633 *On February 7, 2021, all of the assets of the properties owned by this joint venture were transferred to the mezzanine lender of Cindat Hersha Owner JV, LLC. As a result, upon dissolution of the venture, we will no longer maintain an interest in this venture. Income/Loss Allocation Prior to February 7, 2021, based on the income allocation methodology within Cindat Hersha Owner JV, LLC, the Company had absorbed cumulative losses equal to our accounting basis in the joint venture resulting in a $0 investment balance in the table above as of December 31, 2020, however, we maintained a positive equity balance within the venture. This difference is due to the difference in our basis inside the venture versus our basis outside of the venture, which is explained later in this note. For SB Partners, LLC, Hiren Boston, LLC, and SB Partners Three, LLC, income or loss is allocated to us and our joint venture partners consistent with the allocation of cash distributions in accordance with the joint venture agreements. This results in an income allocation consistent with our percentage of ownership interests. Any difference between the carrying amount of any of our investments noted above and the underlying equity in net assets is amortized over the expected useful lives of the properties and other intangible assets. Loss recognized during the three and six months ended June 30, 2021 and 2020, for our investments in unconsolidated joint ventures is as follows: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Hiren Boston, LLC $ (354) $ (477) $ (689) $ (880) SB Partners, LLC (50) — (50) (600) SB Partners Three, LLC (185) (25) (508) (40) Loss from Unconsolidated Joint Venture Investments $ (589) $ (502) $ (1,247) $ (1,520) 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 June 30, 2021 and December 31, 2020 and for the three and six months ended June 30, 2021 and 2020. Balance Sheets June 30, 2021 December 31, 2020 Assets Investment in Hotel Properties, Net $ 65,956 $ 581,452 Other Assets 14,126 32,048 Total Assets $ 80,082 $ 613,500 Liabilities and Equity Mortgages and Notes Payable $ 65,457 $ 452,284 Other Liabilities 14,939 42,197 Equity: Hersha Hospitality Trust 4,099 5,699 Joint Venture Partner(s) (4,413) 113,452 Accumulated Other Comprehensive Loss — (132) Total Equity (314) 119,019 Total Liabilities and Equity $ 80,082 $ 613,500 Statements of Operations Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Room Revenue $ 1,888 $ 5,588 $ 4,143 $ 16,932 Other Revenue 125 — 242 787 Operating Expenses (1,205) (3,265) (3,015) (11,613) Lease Expense (245) (170) (516) (354) Property Taxes and Insurance (382) (3,154) (1,948) (6,438) General and Administrative (26) (553) (247) (1,516) Depreciation and Amortization (1,300) (3,925) (3,612) (7,840) Interest Expense (642) (5,582) (3,334) (11,869) Loss on Dissolution of Joint Venture — — (112,429) — Net Loss $ (1,787) $ (11,061) $ (120,716) $ (21,911) The following table is a reconciliation of our share in the unconsolidated joint ventures’ equity to our investment in the unconsolidated joint ventures as presented on our balance sheets as of June 30, 2021 and December 31, 2020. June 30, 2021 December 31, 2020 Our share of equity recorded on the joint ventures' financial statements $ 4,099 $ 5,699 Adjustment to reconcile our share of equity recorded on the joint ventures' financial statements to our investment in unconsolidated joint ventures (1) 1,837 934 Investment in Unconsolidated Joint Ventures $ 5,936 $ 6,633 (1) Adjustment to reconcile our share of equity recorded on the joint ventures' financial statements to our investment in unconsolidated joint ventures consists of the following: • the difference between our basis in the investment in joint ventures and the equity recorded on the joint ventures' financial statements; • accumulated amortization of our equity in joint ventures that reflects the difference in our portion of the fair value of joint ventures' assets on the date of our investment when compared to the carrying value of the assets recorded on the joint ventures’ financial statements (this excess or deficit investment is amortized over the life of the properties, and the amortization is included in Income (Loss) from Unconsolidated Joint Venture Investments on our consolidated statement of operations); and

OTHER ASSETS

OTHER ASSETS	6 Months Ended
	Jun. 30, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
OTHER ASSETS	OTHER ASSETS Other Assets Other Assets consisted of the following at June 30, 2021 and December 31, 2020: June 30, 2021 December 31, 2020 Deferred Financing Costs $ 1,783 $ 2,395 Prepaid Expenses 9,540 5,692 Investment in Statutory Trusts 1,548 1,548 Investment in Non-Hotel Property and Inventories 2,318 2,443 Deposits with Unaffiliated Third Parties 2,456 2,561 Deferred Tax Asset, Net of Valuation Allowance of $23,438 and $23,591, respectively 499 — Other 2,251 855 $ 20,395 $ 15,494 Deferred Financing Costs – This category represents financing costs paid by the Company to establish our Line of Credit. These costs have been capitalized and will amortize to interest expense over the term of the Line of Credit. Prepaid Expenses – Prepaid expenses include amounts paid for property tax, insurance and other expenditures that will be expensed in the next twelve months. Investment in Statutory Trusts – We have an investment in the common stock of Hersha Statutory Trust I and Hersha Statutory Trust II. Investment in Non-Hotel Property and Inventories – This category represents the costs paid and capitalized by the Company for items such as office leasehold improvements, furniture and equipment, and property inventories. Deposits with Unaffiliated Third Parties – These deposits represent deposits made by the Company with unaffiliated third parties for items such as lease security deposits, utility deposits, and deposits with unaffiliated third party management companies. Deferred Tax Asset – We have recorded a valuation allowance resulting in net deferred tax assets of $499 as of June 30, 2021. 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 not be able to realize the net deferred tax assets in the future, and a valuation allowance for the entire deferred tax asset has been recorded, with the exception of a city net operating loss that we believe that we will be able to realize.

DEBT

DEBT	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
DEBT	DEBT Mortgages Mortgages payable at June 30, 2021 and December 31, 2020 consisted of the following: June 30, 2021 December 31, 2020 Mortgage Indebtedness $ 305,911 $ 332,264 Net Unamortized Premium 127 354 Net Unamortized Deferred Financing Costs (1,612) (1,770) Mortgages Payable $ 304,426 $ 330,848 Net Unamortized Deferred Financing Costs associated with entering into mortgage indebtedness are deferred and amortized over the life of the mortgages. Net Unamortized Premiums are also amortized over the remaining life of the loans. Mortgage indebtedness balances are subject to fixed and variable interest rates, which ranged from 2.75% to 6.30% as of June 30, 2021. Our mortgage indebtedness contains various financial and non-financial covenants customarily found in secured, non-recourse financing arrangements. Our mortgage loans 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 all debt covenants contained in the loan agreements securing our consolidated hotel properties with the exception of two mortgages were met as of June 30, 2021. During the six months ended June 30, 2021, we refinanced the outstanding mortgages secured by the Hilton Garden Inn 52nd Street, the Courtyard Los Angeles Westside, the Hilton Garden Inn Tribeca, and the Hyatt Union Square, which resulted in $90 of debt modification expense. As of June 30, 2021, the maturity dates for the outstanding mortgage loans ranged from September 2021 to September 2025. One mortgage with a total principal balance of $21,663 will mature within the next twelve months. We are in active discussions with lenders to refinance this mortgage with property level debt prior to its maturity. Credit Facilities We maintain three secured credit arrangements which aggregate to $747,481 with Citigroup Global Markets Inc., Wells Fargo Bank, Inc. and various other lenders. Our credit agreement (the "Credit Agreement") provides for a $442,404 senior secured credit facility (“Credit Facility”). The Credit Facility consists of a $250,000 senior secured revolving line of credit (“Line of Credit”) and a $192,404 senior secured term loan ("First Term Loan"), and expires on August 10, 2022. We maintain another credit agreement which provides for a $278,846 senior secured term loan agreement (“Second Term Loan”) and expires on September 10, 2024. A separate credit agreement provides for a $26,231 senior secured term loan agreement (“Third Term Loan” and collectively with the Credit Agreement and the Second Term Loan, the "Credit Agreements") and expires on August 10, 2022. Management intends to explore options including, but not limited to, additional asset sales, the refinancing of debt and the offering of equity or equity-linked securities prior to the maturity of the First Term Loan and the Third Term Loan on August 10, 2022. On February 17, 2021, the Company signed amendments to the Credit Agreements which resulted in debt extinguishment expense $2,977. Debt extinguishment expense consists of $635 of debt extinguishment losses and $2,342 of debt modification losses. The signed amendments to the Credit Agreements, among other things, provide for: • an extension of the maturity date of the Third Term Loan to August 10, 2022; • a limited waiver of financial covenants through March 31, 2022; and • the ability to borrow up to $174,729, inclusive of amounts already outstanding, under the Line of Credit, the proceeds of which may only be used to fund certain costs and expenses. Certain conditions, such as minimum liquid assets in an aggregate amount of at least $30,000, and certain negative covenants and restrictions that are considered normal and customary, must be met on a recurring basis as outlined within the amendments. The amendments to the Credit Agreements make certain other amendments to financial covenants in place beginning in the second quarter of 2022: • a fixed charge coverage ratio of not less than 1.20 to 1.00 (was 1.50 to 1.00); • a maximum leverage ratio of not more than 65% (was 60%); and • a new financial covenant that requires the borrowing base leverage ratio to not exceed 60% at any time. The amount that we can borrow at any given time under our Line of Credit, and the individual term loans (each a “Term Loan” and together the “Term Loans”) is governed by certain operating metrics of designated hotel properties known as borrowing base assets. As of June 30, 2021, the following hotel properties secured the amended facilities under the Credit Agreements: - Courtyard by Marriott Brookline, Brookline, MA - Hampton Inn, Washington, DC - The Envoy Boston Seaport, Boston, MA - Ritz-Carlton Georgetown, Washington, DC - The Boxer, Boston, MA - Hilton Garden Inn, M Street, Washington, DC - Hampton Inn Seaport, Seaport, New York, NY - The Winter Haven Hotel Miami Beach, Miami, FL - Holiday Inn Express Chelsea, 29th Street, New York, NY - The Blue Moon Hotel Miami Beach, Miami, FL - Gate Hotel JFK Airport, New York, NY - Cadillac Hotel & Beach Club, Miami, FL - Hilton Garden Inn JFK Airport, New York, NY - The Parrot Key Hotel & Villas, Key West, FL - NU Hotel, Brooklyn, New York, NY - TownePlace Suites, Sunnyvale, CA - Hyatt House White Plains, White Plains, NY - The Ambrose Hotel, Santa Monica, CA - Hampton Inn Center City/ Convention Center, Philadelphia, PA - The Pan Pacific Hotel Seattle, Seattle, WA - The Rittenhouse, Philadelphia, PA - Mystic Marriott Hotel & Spa, Groton, CT - Philadelphia Westin, Philadelphia, PA The interest rate for borrowings under the Line of Credit and Term Loans are based on a pricing grid with a range of one month U.S. LIBOR plus a spread. The following table summarizes the balances outstanding and interest rate spread for each borrowing: Outstanding Balance Borrowing Spread June 30, 2021 December 31, 2020 Line of Credit 1.50% to 2.25% $ 118,684 $ 133,053 Term Loans: First Term Loan 1.45% to 2.20% $ 192,404 $ 202,158 Second Term Loan 1.35% to 2.00% 278,846 292,983 Third Term Loan 1.45% to 2.20% 26,231 189,365 Deferred Loan Costs (1,824) (2,762) Total Term Loans $ 495,657 $ 681,744 Prior to the amendments noted above, the Credit Agreements included certain financial covenants and required that we maintain: (1) a minimum tangible net worth (calculated as total assets, plus accumulated depreciation, less total liabilities, intangibles and other defined adjustments) of $1,119,500, plus an amount equal to 75% of the net cash proceeds of all issuances and primary sales of equity interests of the parent guarantor or any of its subsidiaries consummated following the closing date; (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 1.50 to 1.00; • a maximum leverage ratio of not more than 60%; and • a maximum secured debt leverage ratio of 45%. The weighted average interest rate, inclusive of the effect of derivative instruments, on the Credit Agreements was 3.92% and 4.23%, and 3.73% and 4.21%, for the three and six months ended June 30, 2021 and 2020, respectively. Notes Payable Notes payable at June 30, 2021 and December 31, 2020 consisted of the following: June 30, 2021 December 31, 2020 Notes Payable $ 204,062 $ 51,548 Net Unamortized Discount (4,899) — Net Unamortized Deferred Financing Costs (5,438) (759) Notes Payable $ 193,725 $ 50,789 Statutory Trust I and Statutory Trust II Notes Payable We have two junior subordinated notes payable in the aggregate amount of $51,548 related 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 of notes issued to each of Hersha Statutory Trust I and Hersha Statutory Trust II bear interest at a variable rate of LIBOR plus 3% per annum. This rate resets 2 business days prior to each quarterly payment. The related deferred financing costs are amortized over the life of the notes payable. The weighted average interest rate on our two junior subordinated notes payable was 3.19% and 4.08% for the three months ended June 30, 2021 and 2020, respectively, and 3.20% and 4.45% for the six months ended June 30, 2021 and 2020, respectively. Junior Notes Payable On February 17, 2021, the Company entered into a note purchase agreement (the “Purchase Agreement”) with several purchasers (the “Purchasers”). The Company agreed to issue and sell to the Purchasers an initial $150,000 aggregate principal amount (the “Initial Notes”) of the Company’s 9.50% Unsecured PIK Toggle Notes due 2026 (the “Notes”), and an incremental $50,000 aggregate principal amount of the Notes that can be drawn at the Company’s discretion, subject to certain conditions, in minimum installments of $25,000 on or prior to September 30, 2021. The Initial Notes were issued on February 23, 2021. The Notes will mature on February 23, 2026. The Notes bear interest at a rate of 9.50% per year, payable in arrears on June 30, September 30, December 31 and March 31 of each year, beginning on June 30, 2021. For any interest period ending on or prior to March 31, 2022, the Issuer, in its sole discretion may elect to pay interest (a) in cash at a rate per annum equal to 4.75% per annum, and (b) in kind at a rate per annum equal to 4.75% per annum (“PIK Interest”). Any PIK Interest will be paid by increasing the principal amount of the Notes at the end of the applicable interest period by the amount of such PIK Interest. We elected the PIK Interest option for the interest period ended June 30, 2021, increasing the principal balance $2,514 to $152,514 as of June 30, 2021. The Notes may not be redeemed prior to February 23, 2022. The notes may be redeemed during the 12 month period beginning February 23, 2022 and the 12 month period beginning February 23, 2023, at a redemption price equal to 104% and 102% of the principal amount of the Notes being redeemed, respectively. After February 23, 2024, the notes may be redeemed at the principal amount. The Notes are subject to representations, warranties, covenants, terms and conditions customary for transactions of this type, including limitations on liens, incurrence of new debt, investments, mergers and asset dispositions, covenants to preserve corporate existence and comply with laws and default provisions. The Company may only use the net proceeds from the issuance of the Notes in accordance with the mandatory prepayment waterfalls, which includes the repayment of outstanding borrowings under the Credit Agreement and use for certain other general corporate purposes. Interest Expense The table below shows the interest expense incurred by the Company during the three and six months ended June 30, 2021 and 2020: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Mortgage Loans Payable $ 2,680 $ 3,031 $ 5,415 $ 6,516 Interest Rate Swap Contracts on Mortgages 627 552 1,230 585 Unsecured Notes Payable 4,311 532 6,248 1,160 Credit Facility and Term Loans 3,754 5,370 8,122 12,404 Interest Rate Swap Contracts on Credit Agreements 2,417 3,133 4,841 4,219 Deferred Financing Costs Amortization 1,088 702 2,380 1,267 Other 105 161 175 337 Total Interest Expense $ 14,982 $ 13,481 $ 28,411 $ 26,488

LEASES

LEASES	6 Months Ended
	Jun. 30, 2021
Leases [Abstract]
LEASES	LEASES We own five hotels within our consolidated portfolio of hotels where we do not own the land on which the hotels reside, rather we lease the land from an unrelated third-party lessor. All of our land leases are classified as operating leases and have initial terms with extension options that range from May 2062 to October 2103. We also have two additional office space leases with terms ranging from March 2023 to December 2027. The components of lease costs for the three months ended June 30, 2021 and 2020 were as follows: Three Months Ended June 30, 2021 Three Months Ended June 30, 2020 Ground Lease Office Lease Total Ground Lease Office Lease Total Operating lease costs $ 1,050 $ 121 $ 1,171 $ 1,050 $ 121 $ 1,171 Variable lease costs 14 83 97 8 87 95 Total lease costs $ 1,064 $ 204 $ 1,268 $ 1,058 $ 208 $ 1,266 The components of lease costs for the six months ended June 30, 2021 and 2020 were as follows: Six months ended June 30, 2021 Six months ended June 30, 2020 Ground Lease Office Lease Total Ground Lease Office Lease Total Operating lease costs $ 2,126 $ 242 $ 2,368 $ 2,100 $ 242 $ 2,342 Variable lease costs 38 167 205 21 154 175 Total lease costs $ 2,164 $ 409 $ 2,573 $ 2,121 $ 396 $ 2,517 Other information related to leases as of and for the six months ended June 30, 2021 and 2020 is as follows: June 30, 2021 June 30, 2020 Cash paid from operating cash flow for operating leases $ 2,246 $ 1,951 Weighted average remaining lease term 64.2 64.2 Weighted average discount rate 7.87 % 7.86 %
LEASES	LEASES We own five hotels within our consolidated portfolio of hotels where we do not own the land on which the hotels reside, rather we lease the land from an unrelated third-party lessor. All of our land leases are classified as operating leases and have initial terms with extension options that range from May 2062 to October 2103. We also have two additional office space leases with terms ranging from March 2023 to December 2027. The components of lease costs for the three months ended June 30, 2021 and 2020 were as follows: Three Months Ended June 30, 2021 Three Months Ended June 30, 2020 Ground Lease Office Lease Total Ground Lease Office Lease Total Operating lease costs $ 1,050 $ 121 $ 1,171 $ 1,050 $ 121 $ 1,171 Variable lease costs 14 83 97 8 87 95 Total lease costs $ 1,064 $ 204 $ 1,268 $ 1,058 $ 208 $ 1,266 The components of lease costs for the six months ended June 30, 2021 and 2020 were as follows: Six months ended June 30, 2021 Six months ended June 30, 2020 Ground Lease Office Lease Total Ground Lease Office Lease Total Operating lease costs $ 2,126 $ 242 $ 2,368 $ 2,100 $ 242 $ 2,342 Variable lease costs 38 167 205 21 154 175 Total lease costs $ 2,164 $ 409 $ 2,573 $ 2,121 $ 396 $ 2,517 Other information related to leases as of and for the six months ended June 30, 2021 and 2020 is as follows: June 30, 2021 June 30, 2020 Cash paid from operating cash flow for operating leases $ 2,246 $ 1,951 Weighted average remaining lease term 64.2 64.2 Weighted average discount rate 7.87 % 7.86 %

COMMITMENTS AND CONTINGENCIES A

COMMITMENTS AND CONTINGENCIES AND RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2021
Commitments And Contingencies And Related Party Transactions [Abstract]
COMMITMENTS AND CONTINGENCIES AND RELATED PARTY TRANSACTIONS	COMMITMENTS AND CONTINGENCIES AND RELATED PARTY TRANSACTIONS Management Agreements Our wholly-owned TRS, 44 New England Management Company, and certain of our joint venture entities engage eligible independent contractors in accordance with the requirements for qualification as a REIT under the Internal Revenue Code of 1986, as amended, including Hersha Hospitality Management Limited Partnership (“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 a term of five years 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 three and six months ended June 30, 2021 and 2020, base management fees incurred to HHMLP totaled $1,745 and $564, and $2,925 and $2,933, respectively, and are recorded as Hotel Operating Expenses. For the three and six months ended June 30, 2021 and 2020, 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 expenses for the three and six months ended June 30, 2021 and 2020 were $2,465 and $775, and $4,287 and $4,603, 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 three and six months ended June 30, 2021 and 2020, the Company incurred accounting fees of $277 and $319, and $590 and $644, respectively. For the three and six months ended June 30, 2021 and 2020, the Company incurred information technology fees of $90 and $103, and $191 and $208, respectively. Accounting fees and information technology fees are included in Hotel Operating Expenses. Capital Expenditure Fees HHMLP charges a 5% fee on certain 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 three and six months ended June 30, 2021 and 2020, we incurred fees of $78 and $56, and $197 and $956, respectively, which were capitalized with the cost of capital expenditures. Acquisitions from Affiliates We have entered into an option agreement with certain of our officers and 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 three and six months ended June 30, 2021 and 2020, we incurred charges for hotel supplies of $0 and $11, and $1 and $63, respectively. For the three and six months ended June 30, 2021 and 2020, we incurred charges for capital expenditure purchases of $86 and $176, and $220 and $1,056, 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. Insurance Services Prior to January 1, 2021, the Company utilized the services of the Hersha Group, a risk management business owned, in part, by certain executives and trustees of the Company. The Hersha Group provided consulting and procurement services to the Company related to the placement of property and casualty insurance, placement of general liability insurance, and for claims handling for our hotel properties. Beginning January 1, 2021, these services were provided by a third-party service provider. For the three and six months ended June 30, 2020, the total cost of property insurance that we paid through the Hersha Group were $1,388 and $2,984, respectively. This amount paid to the Hersha Group included insurance premiums and brokerage fees as compensation for brokerage services. Restaurant Lease Agreements with Independent Restaurant Group The Company enters into lease agreements with a number of restaurant management companies for the lease of restaurants located within our hotels. The Company previously entered into lease agreements with Independent Restaurant Group ("IRG") for restaurants at three of its hotel properties. Jay H. Shah and Neil H. Shah, executive officers and/or trustees of the Company, collectively own a 70.0% interest in IRG. The Company’s restaurant lease agreements with IRG generally provided for a term of five years and the payment of base rents and percentage rents, which were based on IRG’s revenue in excess of defined thresholds. Effective April 1, 2020, each of these lease agreements became a management agreement between the Company and IRG, subject to the supervision of HHMLP, as property manager. At the time of the conversion of the lease agreements to management agreements there was rent due of $103, which was forgiven due to the impact of the COVID-19 pandemic on the operations of our hotels and IRG's restaurants. For the six months ended June 30, 2021 and 2020, we did not recognize any revenue from IRG. Due From Related Parties The due from related parties balance as of June 30, 2021 and December 31, 2020 was approximately $1,552 and $2,641, respectively. The balances primarily consisted of working capital deposits made to HHMLP and other entities owned, in part, by certain executives and trustees of the Company. Due to Related Parties The balance due to related parties as of June 30, 2021 and December 31, 2020 was $0.

FAIR VALUE MEASUREMENTS AND DER

FAIR VALUE MEASUREMENTS AND DERIVATIVE INSTRUMENTS	6 Months Ended
	Jun. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
FAIR VALUE MEASUREMENTS AND DERIVATIVE INSTRUMENTS	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 June 30, 2021, 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 counter-party’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 counter-parties. However, as of June 30, 2021 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. Derivative Instruments 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. The table on the following page presents our derivative instruments as of June 30, 2021 and December 31, 2020. Estimated Fair Value (Liability) Balance Hedged Debt Type Strike Rate Index Effective Date Derivative Contract Maturity Date Notional Amount June 30, 2021 December 31, 2020 Term Loan Instruments: Credit Facility Swap 1.341 % 1-Month LIBOR + 2.20% October 3, 2019 August 2, 2021 150,000 $ (165) $ (1,070) Credit Facility (1) Swap 1.316 % 1-Month LIBOR + 2.20% September 3, 2019 August 2, 2021 43,900 (47) (307) Credit Facility Swap 1.824 % 1-Month LIBOR + 2.20% September 3, 2019 August 10, 2022 103,500 (1,944) (2,793) Credit Facility Swap 1.824 % 1-Month LIBOR + 2.20% September 3, 2019 August 10, 2022 103,500 (1,944) (2,793) Credit Facility Swap 1.460 % 1-Month LIBOR + 2.00% September 10, 2019 September 10, 2024 300,000 (8,790) (13,286) Mortgages: Annapolis Waterfront Hotel, MD Cap 3.350 % 1-Month LIBOR +2.65% May 1, 2018 May 1, 2021 28,000 — — Hyatt, Union Square, New York, NY Swap 1.870 % 1-Month LIBOR + 2.30% June 7, 2019 June 7, 2023 56,000 (1,743) (2,305) Hilton Garden Inn Tribeca, New York, NY Swap 1.768 % 1-Month LIBOR + 2.25% July 25, 2019 July 25, 2024 22,725 (869) (1,222) Hilton Garden Inn Tribeca, New York, NY Swap 1.768 % 1-Month LIBOR + 2.25% July 25, 2019 July 25, 2024 22,725 (869) (1,222) Hilton Garden Inn 52nd Street, New York, NY Swap 1.540 % 1-Month LIBOR + 2.30% December 4, 2019 December 4, 2022 44,325 (869) (1,186) Courtyard, LA Westside, Culver City, CA (2) Swap 0.495 % 1-Month LIBOR + 3.75% June 1, 2020 August 1, 2021 35,000 (12) (75) $ (17,252) $ (26,259) (1) During the six months ended June 30, 2021, we dedesignated this swap as a cash flow hedge and recorded expense of $330 accordingly. (2) Subsequent to June 30, 2021, we entered into an interest rate cap for this debt, which is effective on August 1, 2021. The fair value of our interest rate swaps is included in accounts payable, accrued expenses and other liabilities at June 30, 2021 and December 31, 2020. The net change related to derivative instruments designated as cash flow hedges recognized as unrealized gains and losses reflected on our consolidated balance sheet in accumulated other comprehensive income was a gain of $2,398 and a loss of $792 for the three months ended June 30, 2021 and 2020, respectively, and a gain of $9,163 and a loss of $30,941 for the six months ended June 30, 2021 and 2020, respectively. 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 derivatives. The change in net unrealized gains/losses on cash flow hedges reflects a reclassification of $(141) and $1,228 and $159 and $2,205 of net unrealized gains from accumulated other comprehensive income as an increase/decrease to interest expense for the three and six months ended June 30, 2021 and 2020, respectively. For the next twelve months ending June 30, 2022, we estimate that an additional $10,059 will be reclassified as an increase to interest expense. Fair Value of Debt We estimate the fair value of our fixed rate debt and the credit spreads over variable market rates on our 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 June 30, 2021, the carrying value and estimated fair value of our debt was $1,112,492 and $1,141,023 respectively. As of December 31, 2020, the carrying value and estimated fair value of our debt was $1,196,434 and $1,176,625, respectively.

SHARE BASED PAYMENTS

SHARE BASED PAYMENTS	6 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
SHARE BASED PAYMENTS	SHARE BASED PAYMENTS Our shareholders approved the Hersha Hospitality Trust 2012 Equity Incentive Plan, as amended, (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. The Short Term Incentive Program ("STIP") and the Long-Term Incentive Program ("LTIP") were incentive compensation programs the Compensation Committee of our Board of Trustees established to align executive compensation with the performance of the Company. Prior to 2019, executives participated in our legacy incentive compensation programs, including the Multi-Year Long Term Equity Incentive Program ("Multi-Year EIP"). On March 17, 2021, based on the achievement of certain metrics established under the 2020 STIP for the performance period ended December 31, 2020, the Compensation Committee awarded 519,732 LTIP Units. The awards issued pursuant to the STIP vest on December 31, 2022, the two year anniversary following the end of the performance period. On March 3, 2021, the Compensation Committee approved the 2021 LTIP in which 50% of the awards provide for time based vesting and the remaining 50% are issuable based on the Company's achievement of a certain level of (1) absolute total shareholder return (37.5% of the award), (2) relative total shareholder return as compared to the Company’s peer group (37.5% of the award), and (3) relative growth in revenue per available room ("RevPar") compared to the Company’s peer group (25.0% of the award). On March 17, 2021, the Compensation Committee awarded 247,689 LTIP Units related to the time based portion of the plan. These Units will vest over a three year period from January 1, 2021 to December 31, 2023. The 50% market-based portion of the 2021 LTIP has a three-year performance period which commenced on January 1, 2021 and ends December 31, 2023. As of June 30, 2021, no shares or LTIP Units have been issued to the executive officers in settlement of 2021 LTIP market-based awards. The LTIP Units awarded under both the 2020 STIP and the 2021 LTIP were determined by dividing the dollar amount of award earned by $8.43, the per share volume weighted average trading price of the Company’s common shares on the NYSE for the 20 trading days prior to December 31, 2020. A summary of our share based compensation activity from January 1, 2021 to June 30, 2021 is as follows: LTIP Unit Awards Restricted Share Awards Share Awards Number of Units Weighted Average Grant Date Fair Value Number of Restricted Shares Weighted Average Grant Date Fair Value Number of Shares Weighted Average Grant Date Fair Value Unvested Balance as of December 31, 2020 898,126 $ 6.15 202,878 $ 7.87 — Granted 794,683 12.86 116,743 10.18 32,460 11.31 Vested (13,512) 12.23 (239,736) 7.73 (32,460) 11.31 Forfeited — N/A (150) 11.31 — N/A Unvested Balance as of June 30, 2021 1,679,297 $ 9.28 79,735 $ 11.68 — The following table summarizes share based compensation expense for the three and six months ended June 30, 2021 and 2020 and unearned compensation as of June 30, 2021 and December 31, 2020: Share Based Unearned For the Three Months Ended For the Six Months Ended As of June 30, 2021 June 30, 2020 June 30, 2021 June 30, 2020 June 30, 2021 December 31, 2020 Issued Awards LTIP Unit Awards $ 1,534 $ 1,142 $ 3,258 $ 2,951 $ 8,049 $ 1,842 Restricted Share Awards 254 342 422 674 762 276 Share Awards 367 — 367 — — — Unissued Awards Market Based 434 315 711 630 3,019 1,933 Performance Based — — — — — — Total $ 2,589 $ 1,799 $ 4,758 $ 4,255 $ 11,830 $ 4,051 The weighted-average period of which the unrecognized compensation expense will be recorded is approximately 2.0 years for LTIP Unit Awards and 1.1 years for Restricted Share Awards. The remaining unvested target units are expected to vest as follows: 2021 2022 2023 2024 LTIP Unit Awards 960,046 595,406 61,921 61,924 Restricted Share Awards — 66,202 10,533 3,000 960,046 661,608 72,454 64,924

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
EARNINGS PER SHARE	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. Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 NUMERATOR: Basic and Diluted* Net Loss $ (23,523) $ (71,780) $ (14,433) $ (97,752) Loss allocated to Noncontrolling Interests 977 10,360 813 13,257 Distributions to Preferred Shareholders (6,044) (6,044) (12,087) (12,088) Net loss applicable to Common Shareholders $ (28,590) $ (67,464) $ (25,707) $ (96,583) DENOMINATOR: Weighted average number of common shares - basic 39,097,820 38,609,922 39,034,707 38,587,011 Effect of dilutive securities: Restricted Stock Awards and LTIP Units (unvested) — — — — Contingently Issued Shares and Units — — — — Weighted average number of common shares - diluted 39,097,820 38,609,922 39,034,707 38,587,011 * Income (loss) allocated to noncontrolling interest in HHLP has been excluded from the numerator and Common Units and Vested LTIP Units have been omitted from the denominator for the purpose of computing diluted earnings per share since 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) applicable to common shareholders.

CASH FLOW DISCLOSURES AND NON C

CASH FLOW DISCLOSURES AND NON CASH INVESTING AND FINANCING ACTIVITIES	6 Months Ended
	Jun. 30, 2021
Supplemental Cash Flow Elements [Abstract]
CASH FLOW DISCLOSURES AND NON CASH INVESTING AND FINANCING ACTIVITIES	CASH FLOW DISCLOSURES AND NON CASH INVESTING AND FINANCING ACTIVITIES Interest paid during the six months ended June 30, 2021 and 2020 totaled $20,052 and $21,488, respectively. Net Cash paid on Interest Rate Derivative contracts during the six months ended June 30, 2021 and 2020 totaled $6,259 and $1,505, respectively. Cash paid for income taxes during the six months ended June 30, 2021 and 2020 totaled $60 and $233, respectively. The following non-cash investing and financing activities occurred during the six months ended June 30, 2021 and 2020: 2021 2020 Common Shares issued as part of the Dividend Reinvestment Plan $ — $ 14 Issuance of share based payments 13,103 6,404 Accrued payables for capital expenditures placed into service 230 1,398 Adjustment to Record Noncontrolling Interest at Redemption Value 1,968 (3,196) The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the consolidated balance sheets that sum to the total of the same such amounts shown in the consolidated statements of cash flows for the six months ended June 30, 2021 and 2020: 2021 2020 Cash and cash equivalents $ 69,083 $ 23,228 Escrowed cash 11,067 7,374 Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows $ 80,150 $ 30,602

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Principles Of Consolidation And Presentation	Principles of Consolidation and Presentation The accompanying consolidated financial statements have been prepared in accordance with US GAAP and include all of our accounts as well as accounts of the Partnership, subsidiary partnerships and our wholly owned Taxable REIT Subsidiary Lessee (“TRS Lessee”), 44 New England Management Company. All significant inter-company amounts have been eliminated.
Variable Interest Entities	Variable Interest Entities We evaluate each of our investments and contractual relationships to determine whether they meet the guidelines for consolidation. 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, there have been no changes to the operating structure of our legal entities during the three and six months ended June 30, 2021 and, therefore, there are no changes to our evaluation of VIE's as presented within our annual report presented on Form 10-K for the year ended December 31, 2020.
Noncontrolling Interest	Noncontrolling InterestWe classify the noncontrolling interests of our common units of limited partnership interest in HHLP (“Common Units”), and Long Term Incentive Plan Units (“LTIP Units”) as equity. LTIP Units are a separate class of limited partnership interest in the Operating Partnership that are convertible into Common Units under certain circumstances.
Investment in Hotel Properties	Investment in Hotel Properties Investments in hotel properties are recorded at cost. Improvements and replacements are capitalized when they extend the useful life of the asset. Costs of repairs and maintenance are expensed as incurred. Depreciation is computed using the straight-line method over the estimated useful life of up to 40 years for buildings and improvements, two These assessments have a direct impact on our net income because if we were to shorten the expected useful lives of our investments in hotel properties we would depreciate these investments over fewer years, resulting in more depreciation expense and lower net income on an annual basis. Identifiable assets, liabilities, and noncontrolling interests related to hotel properties acquired are recorded at fair value. Estimating techniques and assumptions used in determining fair values involve significant estimates and judgments. These estimates and judgments have a direct impact on the carrying value of our assets and liabilities which can directly impact the amount of depreciation expense recorded on an annual basis and could have an impact on our assessment of potential impairment of our investment in hotel properties. 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. We evaluate each disposition to determine whether we need to classify the disposition as discontinued operations. We generally include the operations of a hotel that was sold or a hotel that has been classified as held for sale in continuing operations unless the sale represents a strategic shift that will have a major impact on our future operations and financial results. We anticipate that most of our hotel dispositions will not be classified as discontinued operations as most will not fit this definition. NOTE 1 - BASIS OF PRESENTATION (CONTINUED) Based on the occurrence of certain events or changes in circumstances, we review the recoverability of the property’s carrying value. Such events or changes in circumstances include the following: • a significant decrease in the market price of a long-lived asset; • a significant adverse change in the extent or manner in which a long-lived asset is being used or in its physical condition; • a significant adverse change in legal factors or in the business climate that could affect the value of a long-lived asset, including an adverse action or assessment by a regulator; • an accumulation of costs significantly in excess of the amount originally expected for the acquisition or construction of a long-lived asset; • a current-period operating or cash flow loss combined with a history of operating or cash flow losses or a projection or forecast that demonstrates continuing losses associated with the use of a long-lived asset; and • a current expectation that, it is more likely than not that, a long-lived asset will be sold or otherwise disposed of significantly before the end of its previously estimated useful life. We review our portfolio on an ongoing basis to evaluate the existence of any of the aforementioned events or changes in circumstances that would require us to test for recoverability. In general, our review of recoverability is based on an estimate of the future undiscounted cash flows, excluding interest charges, expected to result from the property’s use and eventual disposition. These estimates consider factors such as expected future operating income, market and other applicable trends and residual value expected, as well as the effects of hotel demand, competition and other factors. Other assumptions used in the review of recoverability include the holding period and expected terminal capitalization rate. If impairment exists due to the inability to recover the carrying value of a property, an impairment loss is recorded to the extent that the carrying value exceeds the estimated fair value of the property. We are required to make subjective assessments as to whether there are impairments in the values of our investments in hotel properties. As of June 30, 2021, based on our analysis, we have determined that the estimated future cash flow of each of the properties in our portfolio is sufficient to recover its respective carrying value, after recording an impairment charge prior to the disposition of the Duane Street hotel.
New Accounting Pronouncements	New Accounting Pronouncements In March 2020, the Financial Accounting Standards Board ("FASB") issued ASU No. 2020-4, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting and in January 2021, the FASB issued 2021-01, Reference Rate Reform (Topic 848), Scope, which further clarified the scope of the reference rate reform optional practical expedients and exceptions outlined in Topic 848. As a result of identified structural risks of interbank offered rates, in particular, the London Interbank Offered Rate (LIBOR), reference rate reform is underway to identify alternative reference rates that are more observable or transaction based. The update provides guidance in accounting for changes in contracts, hedging relationships, and other transactions as a result of this reference rate reform. The optional expedients and exceptions contained within these updates, in general, only apply to contract amendments and modifications entered into prior to January 1, 2023. The provisions of these updates that will most likely affect our financial reporting process related to modifications of contracts with lenders and the related hedging contracts associated with each respective modified borrowing contract. In general, the provisions of these updates would impact the Company by allowing, among other things, the following: • Allowing modifications of debt contracts with lenders that fall under the guidance of ASC Topic 470 to be accounted for as a non-substantial modification and not be considered a debt extinguishment. • Allowing a change to contractual terms of a hedging instrument in conjunction with reference rate reform to not require a dedesignation of the hedging relationship. • Allowing a change to the interest rate used for margining, discounting, or contract price alignment for a derivative that is a cash flow hedge to not be considered a change to the critical terms of the hedge and will not require a dedesignation of the hedging relationship. We have not entered into any contract modifications yet, as it directly relates to reference rate reform but we anticipate having to undertake such modifications in the future as a majority of our contracts with lenders and hedging counterparties are indexed to LIBOR. While we anticipate the impact of this update to be to the benefit of the Company, we are still evaluating the overall impact to the Company.

BASIS OF PRESENTATION (Tables)

BASIS OF PRESENTATION (Tables)	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of preferred stock	Terms of the Series C, Series D, and Series E Preferred Shares outstanding at June 30, 2021 and December 31, 2020 are summarized as follows: Dividend Per Share (1) Shares Outstanding Six Months Ended June 30, Series June 30, 2021 December 31, 2020 Aggregate Liquidation Preference Distribution Rate 2021 2020 Series C 3,000,000 3,000,000 $ 75,000 6.875 % $ 2.5782 $ — Series D 7,701,700 7,701,700 $ 192,500 6.500 % $ 2.4378 $ — Series E 4,001,514 4,001,514 $ 100,000 6.500 % $ 2.4378 $ — Total 14,703,214 14,703,214

INVESTMENT IN HOTEL PROPERTIES

INVESTMENT IN HOTEL PROPERTIES (Tables)	6 Months Ended
	Jun. 30, 2021
Property, Plant and Equipment [Abstract]
Schedule of investment in hotel properties	Investment in hotel properties consists of the following at June 30, 2021 and December 31, 2020: June 30, 2021 December 31, 2020 Land $ 478,413 $ 488,463 Buildings and Improvements 1,557,840 1,611,144 Furniture, Fixtures and Equipment 271,977 281,440 Construction in Progress 1,489 987 2,309,719 2,382,034 Less Accumulated Depreciation (610,489) (597,196) Total Investment in Hotel Properties * $ 1,699,230 $ 1,784,838 * The net book value of investment in hotel property at Ritz Coconut Grove, which is a variable interest entity, is $40,937 and $42,487 at June 30, 2021 and December 31, 2020, respectively.
Schedule of real estate assets sold	For the six months ended June 30, 2020, we had no hotel dispositions. During the six months ended June 30, 2021, we had the following hotel dispositions: Hotel Acquisition Disposition Consideration Gain on Courtyard San Diego, CA 05/30/2013 02/19/2021 $ 64,500 $ 5,037 The Capitol Hill Hotel Washington, DC 04/15/2011 03/09/2021 51,000 12,990 Holiday Inn Express Cambridge, MA 05/03/2006 03/09/2021 32,000 20,281 Residence Inn Miami Coconut Grove, FL 06/12/2013 03/10/2021 31,000 10,005 Duane Street Hotel (1) 01/04/2008 05/13/2021 18,000 — 2021 Total $ 48,313
Schedule of assets held for sale	The table below shows the balances for the properties that were classified as assets held for sale as of December 31, 2020: December 31, 2020 Land $ 28,015 Buildings and Improvements 93,314 Furniture, Fixtures and Equipment 15,469 136,798 Less Accumulated Depreciation (40,578) Assets Held for Sale $ 96,220

INVESTMENT IN UNCONSOLIDATED _2

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Tables)	6 Months Ended
	Jun. 30, 2021
Equity Method Investments and Joint Ventures [Abstract]
Schedule of investment in unconsolidated joint ventures	As of June 30, 2021 and December 31, 2020, our investment in unconsolidated joint ventures consisted of the following: Joint Venture Hotel Properties Percent Owned June 30, 2021 December 31, 2020 Cindat Hersha Owner JV, LLC Hilton and IHG branded hotels in NYC 31.2 % * $ — $ — Hiren Boston, LLC Courtyard by Marriott, South Boston, MA 50 % 29 219 SB Partners, LLC Holiday Inn Express, South Boston, MA 50 % — — SB Partners Three, LLC Home2 Suites, South Boston, MA 50 % 5,907 6,414 $ 5,936 $ 6,633
Schedule of income or loss from unconsolidated joint ventures	Loss recognized during the three and six months ended June 30, 2021 and 2020, for our investments in unconsolidated joint ventures is as follows: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Hiren Boston, LLC $ (354) $ (477) $ (689) $ (880) SB Partners, LLC (50) — (50) (600) SB Partners Three, LLC (185) (25) (508) (40) Loss from Unconsolidated Joint Venture Investments $ (589) $ (502) $ (1,247) $ (1,520)
Summary of financial information related to unconsolidated joint ventures	The following tables set forth the total assets, liabilities, equity and components of net income or loss, including the Company’s share, related to the unconsolidated joint ventures discussed above as of June 30, 2021 and December 31, 2020 and for the three and six months ended June 30, 2021 and 2020. Balance Sheets June 30, 2021 December 31, 2020 Assets Investment in Hotel Properties, Net $ 65,956 $ 581,452 Other Assets 14,126 32,048 Total Assets $ 80,082 $ 613,500 Liabilities and Equity Mortgages and Notes Payable $ 65,457 $ 452,284 Other Liabilities 14,939 42,197 Equity: Hersha Hospitality Trust 4,099 5,699 Joint Venture Partner(s) (4,413) 113,452 Accumulated Other Comprehensive Loss — (132) Total Equity (314) 119,019 Total Liabilities and Equity $ 80,082 $ 613,500 Statements of Operations Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Room Revenue $ 1,888 $ 5,588 $ 4,143 $ 16,932 Other Revenue 125 — 242 787 Operating Expenses (1,205) (3,265) (3,015) (11,613) Lease Expense (245) (170) (516) (354) Property Taxes and Insurance (382) (3,154) (1,948) (6,438) General and Administrative (26) (553) (247) (1,516) Depreciation and Amortization (1,300) (3,925) (3,612) (7,840) Interest Expense (642) (5,582) (3,334) (11,869) Loss on Dissolution of Joint Venture — — (112,429) — Net Loss $ (1,787) $ (11,061) $ (120,716) $ (21,911)
Reconciliation of share in unconsolidated joint ventures equity in investment In unconsolidated joint ventures	The following table is a reconciliation of our share in the unconsolidated joint ventures’ equity to our investment in the unconsolidated joint ventures as presented on our balance sheets as of June 30, 2021 and December 31, 2020. June 30, 2021 December 31, 2020 Our share of equity recorded on the joint ventures' financial statements $ 4,099 $ 5,699 Adjustment to reconcile our share of equity recorded on the joint ventures' financial statements to our investment in unconsolidated joint ventures (1) 1,837 934 Investment in Unconsolidated Joint Ventures $ 5,936 $ 6,633 (1) Adjustment to reconcile our share of equity recorded on the joint ventures' financial statements to our investment in unconsolidated joint ventures consists of the following: • the difference between our basis in the investment in joint ventures and the equity recorded on the joint ventures' financial statements; • accumulated amortization of our equity in joint ventures that reflects the difference in our portion of the fair value of joint ventures' assets on the date of our investment when compared to the carrying value of the assets recorded on the joint ventures’ financial statements (this excess or deficit investment is amortized over the life of the properties, and the amortization is included in Income (Loss) from Unconsolidated Joint Venture Investments on our consolidated statement of operations); and

OTHER ASSETS (Tables)

OTHER ASSETS (Tables)	6 Months Ended
	Jun. 30, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of other assets	Other Assets consisted of the following at June 30, 2021 and December 31, 2020: June 30, 2021 December 31, 2020 Deferred Financing Costs $ 1,783 $ 2,395 Prepaid Expenses 9,540 5,692 Investment in Statutory Trusts 1,548 1,548 Investment in Non-Hotel Property and Inventories 2,318 2,443 Deposits with Unaffiliated Third Parties 2,456 2,561 Deferred Tax Asset, Net of Valuation Allowance of $23,438 and $23,591, respectively 499 — Other 2,251 855 $ 20,395 $ 15,494

DEBT (Tables)

DEBT (Tables)	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Schedule of mortgages payable and interest expense	Mortgages payable at June 30, 2021 and December 31, 2020 consisted of the following: June 30, 2021 December 31, 2020 Mortgage Indebtedness $ 305,911 $ 332,264 Net Unamortized Premium 127 354 Net Unamortized Deferred Financing Costs (1,612) (1,770) Mortgages Payable $ 304,426 $ 330,848 Notes payable at June 30, 2021 and December 31, 2020 consisted of the following: June 30, 2021 December 31, 2020 Notes Payable $ 204,062 $ 51,548 Net Unamortized Discount (4,899) — Net Unamortized Deferred Financing Costs (5,438) (759) Notes Payable $ 193,725 $ 50,789 The table below shows the interest expense incurred by the Company during the three and six months ended June 30, 2021 and 2020: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Mortgage Loans Payable $ 2,680 $ 3,031 $ 5,415 $ 6,516 Interest Rate Swap Contracts on Mortgages 627 552 1,230 585 Unsecured Notes Payable 4,311 532 6,248 1,160 Credit Facility and Term Loans 3,754 5,370 8,122 12,404 Interest Rate Swap Contracts on Credit Agreements 2,417 3,133 4,841 4,219 Deferred Financing Costs Amortization 1,088 702 2,380 1,267 Other 105 161 175 337 Total Interest Expense $ 14,982 $ 13,481 $ 28,411 $ 26,488
Summary of borrowing base assets	As of June 30, 2021, the following hotel properties secured the amended facilities under the Credit Agreements: - Courtyard by Marriott Brookline, Brookline, MA - Hampton Inn, Washington, DC - The Envoy Boston Seaport, Boston, MA - Ritz-Carlton Georgetown, Washington, DC - The Boxer, Boston, MA - Hilton Garden Inn, M Street, Washington, DC - Hampton Inn Seaport, Seaport, New York, NY - The Winter Haven Hotel Miami Beach, Miami, FL - Holiday Inn Express Chelsea, 29th Street, New York, NY - The Blue Moon Hotel Miami Beach, Miami, FL - Gate Hotel JFK Airport, New York, NY - Cadillac Hotel & Beach Club, Miami, FL - Hilton Garden Inn JFK Airport, New York, NY - The Parrot Key Hotel & Villas, Key West, FL - NU Hotel, Brooklyn, New York, NY - TownePlace Suites, Sunnyvale, CA - Hyatt House White Plains, White Plains, NY - The Ambrose Hotel, Santa Monica, CA - Hampton Inn Center City/ Convention Center, Philadelphia, PA - The Pan Pacific Hotel Seattle, Seattle, WA - The Rittenhouse, Philadelphia, PA - Mystic Marriott Hotel & Spa, Groton, CT - Philadelphia Westin, Philadelphia, PA
Summary of the balances outstanding and interest rate spread	The following table summarizes the balances outstanding and interest rate spread for each borrowing: Outstanding Balance Borrowing Spread June 30, 2021 December 31, 2020 Line of Credit 1.50% to 2.25% $ 118,684 $ 133,053 Term Loans: First Term Loan 1.45% to 2.20% $ 192,404 $ 202,158 Second Term Loan 1.35% to 2.00% 278,846 292,983 Third Term Loan 1.45% to 2.20% 26,231 189,365 Deferred Loan Costs (1,824) (2,762) Total Term Loans $ 495,657 $ 681,744

LEASES (Tables)

LEASES (Tables)	6 Months Ended
	Jun. 30, 2021
Leases [Abstract]
Schedule of components of lease costs	The components of lease costs for the three months ended June 30, 2021 and 2020 were as follows: Three Months Ended June 30, 2021 Three Months Ended June 30, 2020 Ground Lease Office Lease Total Ground Lease Office Lease Total Operating lease costs $ 1,050 $ 121 $ 1,171 $ 1,050 $ 121 $ 1,171 Variable lease costs 14 83 97 8 87 95 Total lease costs $ 1,064 $ 204 $ 1,268 $ 1,058 $ 208 $ 1,266 The components of lease costs for the six months ended June 30, 2021 and 2020 were as follows: Six months ended June 30, 2021 Six months ended June 30, 2020 Ground Lease Office Lease Total Ground Lease Office Lease Total Operating lease costs $ 2,126 $ 242 $ 2,368 $ 2,100 $ 242 $ 2,342 Variable lease costs 38 167 205 21 154 175 Total lease costs $ 2,164 $ 409 $ 2,573 $ 2,121 $ 396 $ 2,517 Other information related to leases as of and for the six months ended June 30, 2021 and 2020 is as follows: June 30, 2021 June 30, 2020 Cash paid from operating cash flow for operating leases $ 2,246 $ 1,951 Weighted average remaining lease term 64.2 64.2 Weighted average discount rate 7.87 % 7.86 %

FAIR VALUE MEASUREMENTS AND D_2

FAIR VALUE MEASUREMENTS AND DERIVATIVE INSTRUMENTS (Tables)	6 Months Ended
	Jun. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of fair value of interest rate swaps and caps	The table on the following page presents our derivative instruments as of June 30, 2021 and December 31, 2020. Estimated Fair Value (Liability) Balance Hedged Debt Type Strike Rate Index Effective Date Derivative Contract Maturity Date Notional Amount June 30, 2021 December 31, 2020 Term Loan Instruments: Credit Facility Swap 1.341 % 1-Month LIBOR + 2.20% October 3, 2019 August 2, 2021 150,000 $ (165) $ (1,070) Credit Facility (1) Swap 1.316 % 1-Month LIBOR + 2.20% September 3, 2019 August 2, 2021 43,900 (47) (307) Credit Facility Swap 1.824 % 1-Month LIBOR + 2.20% September 3, 2019 August 10, 2022 103,500 (1,944) (2,793) Credit Facility Swap 1.824 % 1-Month LIBOR + 2.20% September 3, 2019 August 10, 2022 103,500 (1,944) (2,793) Credit Facility Swap 1.460 % 1-Month LIBOR + 2.00% September 10, 2019 September 10, 2024 300,000 (8,790) (13,286) Mortgages: Annapolis Waterfront Hotel, MD Cap 3.350 % 1-Month LIBOR +2.65% May 1, 2018 May 1, 2021 28,000 — — Hyatt, Union Square, New York, NY Swap 1.870 % 1-Month LIBOR + 2.30% June 7, 2019 June 7, 2023 56,000 (1,743) (2,305) Hilton Garden Inn Tribeca, New York, NY Swap 1.768 % 1-Month LIBOR + 2.25% July 25, 2019 July 25, 2024 22,725 (869) (1,222) Hilton Garden Inn Tribeca, New York, NY Swap 1.768 % 1-Month LIBOR + 2.25% July 25, 2019 July 25, 2024 22,725 (869) (1,222) Hilton Garden Inn 52nd Street, New York, NY Swap 1.540 % 1-Month LIBOR + 2.30% December 4, 2019 December 4, 2022 44,325 (869) (1,186) Courtyard, LA Westside, Culver City, CA (2) Swap 0.495 % 1-Month LIBOR + 3.75% June 1, 2020 August 1, 2021 35,000 (12) (75) $ (17,252) $ (26,259) (1) During the six months ended June 30, 2021, we dedesignated this swap as a cash flow hedge and recorded expense of $330 accordingly.

SHARE BASED PAYMENTS (Tables)

SHARE BASED PAYMENTS (Tables)	6 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
Summary of unvested share awards issued to executives	A summary of our share based compensation activity from January 1, 2021 to June 30, 2021 is as follows: LTIP Unit Awards Restricted Share Awards Share Awards Number of Units Weighted Average Grant Date Fair Value Number of Restricted Shares Weighted Average Grant Date Fair Value Number of Shares Weighted Average Grant Date Fair Value Unvested Balance as of December 31, 2020 898,126 $ 6.15 202,878 $ 7.87 — Granted 794,683 12.86 116,743 10.18 32,460 11.31 Vested (13,512) 12.23 (239,736) 7.73 (32,460) 11.31 Forfeited — N/A (150) 11.31 — N/A Unvested Balance as of June 30, 2021 1,679,297 $ 9.28 79,735 $ 11.68 —
Schedule of employee service share-based compensation, allocation of recognized period costs	The following table summarizes share based compensation expense for the three and six months ended June 30, 2021 and 2020 and unearned compensation as of June 30, 2021 and December 31, 2020: Share Based Unearned For the Three Months Ended For the Six Months Ended As of June 30, 2021 June 30, 2020 June 30, 2021 June 30, 2020 June 30, 2021 December 31, 2020 Issued Awards LTIP Unit Awards $ 1,534 $ 1,142 $ 3,258 $ 2,951 $ 8,049 $ 1,842 Restricted Share Awards 254 342 422 674 762 276 Share Awards 367 — 367 — — — Unissued Awards Market Based 434 315 711 630 3,019 1,933 Performance Based — — — — — — Total $ 2,589 $ 1,799 $ 4,758 $ 4,255 $ 11,830 $ 4,051
Disclosure of share-based compensation arrangements by share-based payment award	The remaining unvested target units are expected to vest as follows: 2021 2022 2023 2024 LTIP Unit Awards 960,046 595,406 61,921 61,924 Restricted Share Awards — 66,202 10,533 3,000 960,046 661,608 72,454 64,924

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Reconciliation of 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. Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 NUMERATOR: Basic and Diluted* Net Loss $ (23,523) $ (71,780) $ (14,433) $ (97,752) Loss allocated to Noncontrolling Interests 977 10,360 813 13,257 Distributions to Preferred Shareholders (6,044) (6,044) (12,087) (12,088) Net loss applicable to Common Shareholders $ (28,590) $ (67,464) $ (25,707) $ (96,583) DENOMINATOR: Weighted average number of common shares - basic 39,097,820 38,609,922 39,034,707 38,587,011 Effect of dilutive securities: Restricted Stock Awards and LTIP Units (unvested) — — — — Contingently Issued Shares and Units — — — — Weighted average number of common shares - diluted 39,097,820 38,609,922 39,034,707 38,587,011 * Income (loss) allocated to noncontrolling interest in HHLP has been excluded from the numerator and Common Units and Vested LTIP Units have been omitted from the denominator for the purpose of computing diluted earnings per share since 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) applicable to common shareholders.

CASH FLOW DISCLOSURES AND NON_2

CASH FLOW DISCLOSURES AND NON CASH INVESTING AND FINANCING ACTIVITIES (Tables)	6 Months Ended
	Jun. 30, 2021
Supplemental Cash Flow Elements [Abstract]
Schedule of cash flow	The following non-cash investing and financing activities occurred during the six months ended June 30, 2021 and 2020: 2021 2020 Common Shares issued as part of the Dividend Reinvestment Plan $ — $ 14 Issuance of share based payments 13,103 6,404 Accrued payables for capital expenditures placed into service 230 1,398 Adjustment to Record Noncontrolling Interest at Redemption Value 1,968 (3,196)
Schedule of cash and cash equivalents	The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the consolidated balance sheets that sum to the total of the same such amounts shown in the consolidated statements of cash flows for the six months ended June 30, 2021 and 2020: 2021 2020 Cash and cash equivalents $ 69,083 $ 23,228 Escrowed cash 11,067 7,374 Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows $ 80,150 $ 30,602
Summary of restrictions on cash and cash equivalents	The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the consolidated balance sheets that sum to the total of the same such amounts shown in the consolidated statements of cash flows for the six months ended June 30, 2021 and 2020: 2021 2020 Cash and cash equivalents $ 69,083 $ 23,228 Escrowed cash 11,067 7,374 Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows $ 80,150 $ 30,602

BASIS OF PRESENTATION (Narrativ

BASIS OF PRESENTATION (Narrative) (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Feb. 28, 2021	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Feb. 17, 2021	Dec. 31, 2020
Noncontrolling Interest [Abstract]
Share conversion ratio (shares)		1		1
Loss attributable to noncontrolling interest		$ 0	$ 0	$ 158	$ 0
Adjustments to additional paid in capital		1,153,657		1,153,657			$ 1,150,985
Adjustments to nocontrolling interest		48,672		48,672			49,246
Proceeds from unsecured debt				144,750	0
Scenario, Adjustment
Noncontrolling Interest [Abstract]
Adjustments to additional paid in capital		(1,968)		(1,968)
Adjustments to nocontrolling interest		1,968		$ 1,968
Unsecured Debt
Noncontrolling Interest [Abstract]
Proceeds from unsecured debt	$ 144,750
Discretionary withdrawal amount	$ 50
Buildings and Improvements | Maximum
Noncontrolling Interest [Abstract]
Useful life of buildings and improvements (in years)				40 years
Furniture, Fixtures and Equipment | Minimum
Noncontrolling Interest [Abstract]
Useful life of buildings and improvements (in years)				2 years
Furniture, Fixtures and Equipment | Maximum
Noncontrolling Interest [Abstract]
Useful life of buildings and improvements (in years)				7 years
Payment in Kind (PIK) Note
Noncontrolling Interest [Abstract]
Discretionary withdrawal amount						$ 50
Noncontrolling Interest | Common Shares
Noncontrolling Interest [Abstract]
Noncontrolling interests in nonredeemable common units		$ 48,672		$ 48,672			$ 49,246
Nonredeemable common units outstanding (in shares)		5,962,491		5,962,491
Fair market value of nonredeemable common units		$ 64,156		$ 64,156
Additional Paid-In Capital
Noncontrolling Interest [Abstract]
Increase to noncontrolling joint venture interest		$ (1,968)	$ 3,196	$ (1,968)	$ 3,196
Senior Common Equity Interest
Noncontrolling Interest [Abstract]
Noncontrolling interest, common equity interest, return				12.00%
Hersha Hospitality Limited Partnership
Class of Stock
Approximate ownership percentage in the partnership (percent)		86.80%		86.80%
General partnership interest (percent)				1.00%
Consolidated Joint Ventures
Noncontrolling Interest [Abstract]
Noncontrolling interest, ownership percentage		15.00%		15.00%
Cumulative return on common equity interest (percent)		30.00%		30.00%
Consolidated Joint Ventures | Senior Common Equity Interest
Noncontrolling Interest [Abstract]
Cumulative return on common equity interest (percent)		25.00%		25.00%
Consolidated Joint Ventures | Junior Common Equity Interest
Noncontrolling Interest [Abstract]
Noncontrolling interest, common equity interest, return				8.00%
Hersha Holding RC Owner, LLC
Noncontrolling Interest [Abstract]
Cumulative return on common equity interest (percent)		70.00%		70.00%
Hersha Holding RC Owner, LLC | Senior Common Equity Interest
Noncontrolling Interest [Abstract]
Noncontrolling interest, common equity interest, return				8.00%
Cumulative return on common equity interest (percent)		75.00%		75.00%

BASIS OF PRESENTATION (Schedule

BASIS OF PRESENTATION (Schedule Of Preferred Stock) (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Class of Stock
Shares outstanding (in shares)	14,703,214		14,703,214
Series C Preferred Shares
Class of Stock
Shares outstanding (in shares)	3,000,000		3,000,000
Aggregate Liquidation Preference	$ 75,000
Dividend Rate (percentage)	6.875%
Dividend per share (in dollars per share)	$ 2.5782	$ 0
Series D Preferred Shares
Class of Stock
Shares outstanding (in shares)	7,701,700		7,701,700
Aggregate Liquidation Preference	$ 192,500
Dividend Rate (percentage)	6.50%
Dividend per share (in dollars per share)	$ 2.4378	0
Series E Preferred Shares
Class of Stock
Shares outstanding (in shares)	4,001,514		4,001,514
Aggregate Liquidation Preference	$ 100,000
Dividend Rate (percentage)	6.50%
Dividend per share (in dollars per share)	$ 2.4378	$ 0

INVESTMENT IN HOTEL PROPERTIE_2

INVESTMENT IN HOTEL PROPERTIES (Investment In Hotel Properties) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Property, Plant and Equipment
Total investment in hotel properties, gross	$ 2,309,719	$ 2,382,034
Less Accumulated Depreciation	(610,489)	(597,196)
Total Investment in Hotel Properties	1,699,230	1,784,838
Variable Interest Entity, Primary Beneficiary | Ritz Coconut Grove
Property, Plant and Equipment
Total Investment in Hotel Properties	40,937	42,487
Land
Property, Plant and Equipment
Total investment in hotel properties, gross	478,413	488,463
Buildings and Improvements
Property, Plant and Equipment
Total investment in hotel properties, gross	1,557,840	1,611,144
Furniture, Fixtures and Equipment
Property, Plant and Equipment
Total investment in hotel properties, gross	271,977	281,440
Construction in Progress
Property, Plant and Equipment
Total investment in hotel properties, gross	$ 1,489	$ 987

INVESTMENT IN HOTEL PROPERTIE_3

INVESTMENT IN HOTEL PROPERTIES (Narrative) (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)property	Jun. 30, 2020USD ($)property
Property, Plant and Equipment
Number of real estate properties acquired (property) | property			0	0
Asset impairment charge	$ 222	$ 1,069	$ 222	$ 1,069
Duane Street Hotel (1)
Property, Plant and Equipment
Asset impairment charge		$ 1,069	$ 147

INVESTMENT IN HOTEL PROPERTIE_4

INVESTMENT IN HOTEL PROPERTIES (Real Estate Assets Sold) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Property, Plant and Equipment
Gain on Disposition	$ 0	$ 0	$ 48,352	$ 0
Disposed of by Sale
Property, Plant and Equipment
Gain on Disposition			48,313
Courtyard San Diego, CA | Disposed of by Sale
Property, Plant and Equipment
Consideration			64,500
Gain on Disposition			5,037
The Capitol Hill Hotel Washington, DC | Disposed of by Sale
Property, Plant and Equipment
Consideration			51,000
Gain on Disposition			12,990
Holiday Inn Express Cambridge, MA | Disposed of by Sale
Property, Plant and Equipment
Consideration			32,000
Gain on Disposition			20,281
Residence Inn Miami Coconut Grove, FL | Disposed of by Sale
Property, Plant and Equipment
Consideration			31,000
Gain on Disposition			10,005
Duane Street Hotel (1) | Disposed of by Sale
Property, Plant and Equipment
Consideration			18,000
Gain on Disposition			$ 0

INVESTMENT IN HOTEL PROPERTIE_5

INVESTMENT IN HOTEL PROPERTIES (Assets Held For Sale) (Details) - Assets Held-for-sale $ in Thousands	Dec. 31, 2020USD ($)
Long Lived Assets Held-for-sale
Assets held for sale, gross	$ 136,798
Less Accumulated Depreciation	(40,578)
Assets Held for Sale	96,220
Land
Long Lived Assets Held-for-sale
Assets held for sale, gross	28,015
Buildings and Improvements
Long Lived Assets Held-for-sale
Assets held for sale, gross	93,314
Furniture, Fixtures and Equipment
Long Lived Assets Held-for-sale
Assets held for sale, gross	$ 15,469

INVESTMENT IN UNCONSOLIDATED _3

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Investment In Unconsolidated Joint Ventures) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Investments in Unconsolidated Joint Ventures
Investment in Unconsolidated Joint Ventures	$ 5,936	$ 6,633
Hilton and IHG branded hotels in NYC | Cindat Hersha Owner JV, LLC
Investments in Unconsolidated Joint Ventures
Percent owned (percentage)	31.20%
Investment in Unconsolidated Joint Ventures	$ 0	0
Courtyard by Marriott, South Boston, MA | Hiren Boston, LLC
Investments in Unconsolidated Joint Ventures
Percent owned (percentage)	50.00%
Investment in Unconsolidated Joint Ventures	$ 29	219
Holiday Inn Express, South Boston, MA | SB Partners, LLC
Investments in Unconsolidated Joint Ventures
Percent owned (percentage)	50.00%
Investment in Unconsolidated Joint Ventures	$ 0	0
Home2 Suites, South Boston, MA | SB Partners Three, LLC
Investments in Unconsolidated Joint Ventures
Percent owned (percentage)	50.00%
Investment in Unconsolidated Joint Ventures	$ 5,907	$ 6,414

INVESTMENT IN UNCONSOLIDATED _4

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Narrative) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Investments in Unconsolidated Joint Ventures
Investment in Unconsolidated Joint Ventures	$ 5,936	$ 6,633
Hilton and IHG branded hotels in NYC | Cindat Hersha Owner JV, LLC
Investments in Unconsolidated Joint Ventures
Investment in Unconsolidated Joint Ventures	$ 0	$ 0

INVESTMENT IN UNCONSOLIDATED _5

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Income Or Loss From Unconsolidated Joint Ventures) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Investments in Unconsolidated Joint Ventures
Loss from Unconsolidated Joint Venture Investments	$ (589)	$ (502)	$ (1,247)	$ (1,520)
Hiren Boston, LLC
Investments in Unconsolidated Joint Ventures
Loss from Unconsolidated Joint Venture Investments	(354)	(477)	(689)	(880)
SB Partners, LLC
Investments in Unconsolidated Joint Ventures
Loss from Unconsolidated Joint Venture Investments	(50)	0	(50)	(600)
SB Partners Three, LLC
Investments in Unconsolidated Joint Ventures
Loss from Unconsolidated Joint Venture Investments	$ (185)	$ (25)	$ (508)	$ (40)

INVESTMENT IN UNCONSOLIDATED _6

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Summary of Unconsolidated Joint Ventures Balance Sheet) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Assets
Investment in Hotel Properties, Net	$ 1,699,230		$ 1,699,230		$ 1,784,838
Other Assets	20,395		20,395		15,494
Total Assets	1,857,734		1,857,734		1,980,988
Liabilities and Equity
Mortgages and Notes Payable	304,426		304,426		330,848
Equity:
Hersha Hospitality Trust	586,015		586,015		623,003
Joint Venture Partner(s)	48,672		48,672		49,246
Accumulated Other Comprehensive Loss	(11,024)		(11,024)		(19,275)
Liabilities and Equity	1,857,734		1,857,734		1,980,988
Equity Method Investment, Nonconsolidated Investee or Group of Investees
Assets
Investment in Hotel Properties, Net	65,956		65,956		581,452
Other Assets	14,126		14,126		32,048
Total Assets	80,082		80,082		613,500
Liabilities and Equity
Mortgages and Notes Payable	65,457		65,457		452,284
Other Liabilities	14,939		14,939		42,197
Equity:
Hersha Hospitality Trust	4,099		4,099		5,699
Joint Venture Partner(s)	(4,413)		(4,413)		113,452
Accumulated Other Comprehensive Loss	0		0		(132)
Total Equity	(314)		(314)		119,019
Liabilities and Equity	80,082		80,082		$ 613,500
Loss on Dissolution of Joint Venture	$ 0	$ 0	$ (112,429)	$ 0

INVESTMENT IN UNCONSOLIDATED _7

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Summary of Unconsolidated Joint Ventures Income Statement) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Statement of Operations
Other Revenue	$ 13	$ 29	$ 25	$ 228
Operating Expenses	(2,465)	(775)
Lease Expense	(1,268)	(1,266)	(2,573)	(2,517)
Property Taxes and Insurance	(9,466)	(9,969)	(19,537)	(19,911)
General and Administrative	(5,287)	(4,187)	(10,231)	(10,021)
Depreciation and Amortization	(21,014)	(24,322)	(42,816)	(48,510)
Interest Expense	(14,982)	(13,481)	(28,411)	(26,488)
Net Loss	(23,523)	(71,780)	(14,433)	(97,752)
Room
Statement of Operations
Hotel Operating Revenues:	56,539	15,139	95,889	86,222
Operating Expenses	(12,350)	(3,622)	(21,548)	(22,714)
Equity Method Investment, Nonconsolidated Investee or Group of Investees
Statement of Operations
Other Revenue	125	0	242	787
Operating Expenses	(1,205)	(3,265)	(3,015)	(11,613)
Lease Expense	(245)	(170)	(516)	(354)
Property Taxes and Insurance	(382)	(3,154)	(1,948)	(6,438)
General and Administrative	(26)	(553)	(247)	(1,516)
Depreciation and Amortization	(1,300)	(3,925)	(3,612)	(7,840)
Interest Expense	(642)	(5,582)	(3,334)	(11,869)
Loss on Dissolution of Joint Venture	0	0	(112,429)	0
Net Loss	(1,787)	(11,061)	(120,716)	(21,911)
Equity Method Investment, Nonconsolidated Investee or Group of Investees | Room
Statement of Operations
Hotel Operating Revenues:	$ 1,888	$ 5,588	$ 4,143	$ 16,932

INVESTMENT IN UNCONSOLIDATED _8

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Reconciliation Of Share In Unconsolidated Joint Ventures' Equity In Investment In Unconsolidated Joint Ventures) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]
Our share of equity recorded on the joint ventures' financial statements	$ 4,099	$ 5,699
Adjustment to reconcile our share of equity recorded on the joint ventures' financial statements to our investment in unconsolidated joint ventures	1,837	934
Investment in Unconsolidated Joint Ventures	$ 5,936	$ 6,633

OTHER ASSETS (Other Assets) (De

OTHER ASSETS (Other Assets) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Deferred Financing Costs	$ 1,783	$ 2,395
Prepaid Expenses	9,540	5,692
Investment in Statutory Trusts	1,548	1,548
Investment in Non-Hotel Property and Inventories	2,318	2,443
Deposits with Unaffiliated Third Parties	2,456	2,561
Deferred Tax Asset, Net of Valuation Allowance of $23,438 and $23,591, respectively	499	0
Other	2,251	855
Total other assets	20,395	15,494
Deferred tax assets, valuation allowance	$ 23,438	$ 23,591

OTHER ASSETS (Narrative) (Detai

OTHER ASSETS (Narrative) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Deferred tax assets, net	$ 499	$ 0

DEBT (Mortgages) (Details)

DEBT (Mortgages) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2021USD ($)loanmortgage	Dec. 31, 2020USD ($)
Mortgages and Notes Payable
Debt modification expense	$ 90
Mortgages
Mortgages and Notes Payable
Mortgage Indebtedness	305,911	$ 332,264
Net Unamortized Premium	127	354
Net Unamortized Deferred Financing Costs	(1,612)	(1,770)
Total debt	$ 304,426	330,848
Number of secured credit agreements (agreements) | mortgage	2
Mortgages | Mortgage Loan Due August 2021 To September 2025
Mortgages and Notes Payable
Total debt	$ 21,663
Loans outstanding, count | loan	1
Notes Payable
Mortgages and Notes Payable
Mortgage Indebtedness	$ 204,062	51,548
Net Unamortized Premium	(4,899)	0
Net Unamortized Deferred Financing Costs	(5,438)	(759)
Total debt	$ 193,725	$ 50,789
Minimum | Mortgages
Mortgages and Notes Payable
Debt instrument, interest rate, effective (percentage)	2.75%
Maximum | Mortgages
Mortgages and Notes Payable
Debt instrument, interest rate, effective (percentage)	6.30%

DEBT (Credit Facilities Narrati

DEBT (Credit Facilities Narrative) (Details)	Feb. 17, 2021USD ($)	Apr. 02, 2020USD ($)	Jun. 30, 2021USD ($)agreement	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)agreement	Jun. 30, 2020USD ($)	Jun. 30, 2022
Short-term Debt
Loss on debt extinguishment			$ 129,000	$ 0	$ 3,069,000	$ 0
Debt modification expense					$ 90,000
Line of credit facility covenant maximum leverage ratio (percentage)	60.00%		60.00%		60.00%
Line of credit facility covenant maximum secured debt leverage ratio (percentage)			45.00%		45.00%
Line of credit facility covenant minimum tangible net worth		$ 1,119,500,000
Line of credit facility covenant percentage of net cash proceeds of issuance and sales of equity interests (percentage)		75.00%
Line of credit facility covenant maximum annual distributions ( (percentage)		95.00%
Forecast
Short-term Debt
Line of credit facility covenant maximum leverage ratio (percentage)							65.00%
Minimum
Short-term Debt
Line of credit facility covenant fixed charge coverage ratio			1.50		1.50
Maximum
Short-term Debt
Line of credit facility covenant fixed charge coverage ratio	1.50
Maximum | Forecast
Short-term Debt
Line of credit facility covenant fixed charge coverage ratio							1.20
Credit Agreement
Short-term Debt
Loss on debt extinguishment	$ 635,000
Debt modification expense	2,342,000
Term Loans:
Short-term Debt
Number of unsecured credit agreements (agreements) | agreement			3		3
Revolving line of credit, current borrowing capacity			$ 747,481,000		$ 747,481,000
Line of credit ability to borrow	174,729,000
Liquid assets requirement	$ 30,000
Term Loans: | Credit Facility
Short-term Debt
Revolving line of credit, current borrowing capacity			442,404,000		442,404,000
Term Loans: | $250 Million Term Loan (First Term Loan)
Short-term Debt
Revolving line of credit, current borrowing capacity			278,846,000		278,846,000
Term Loans: | $300 Million Senior Term Loan Agreement (Second Term Loan)
Short-term Debt
Debt instrument, face amount			26,231,000		26,231,000
Term Loans: | $200 Million Senior Term Loan Agreement (Third Term Loan)
Short-term Debt
Debt instrument, face amount			$ 192,404,000		$ 192,404,000
Revolving Line Of Credit
Short-term Debt
Line of credit, weighted average interest rate (percentage)			3.92%	4.23%	3.73%	4.21%
Revolving Line Of Credit | Forecast
Short-term Debt
Line of credit facility covenant maximum secured debt leverage ratio (percentage)							60.00%
Revolving Line Of Credit | $250 Million Senior Revolving Line Of Credit (Line of Credit)
Short-term Debt
Revolving line of credit, current borrowing capacity			$ 250,000,000		$ 250,000,000

DEBT (Summary Of The Balances O

DEBT (Summary Of The Balances Outstanding And Interest Rate Spread) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Short-term Debt
Line of Credit	$ 118,684	$ 133,053
Unsecured term loan	495,657	681,744
Term Loans:
Short-term Debt
Unsecured term loan	495,657	681,744
Deferred Loan Costs	(1,824)	(2,762)
$250 Million Senior Revolving Line Of Credit (Line of Credit) | Line of Credit
Short-term Debt
Line of Credit	118,684	133,053
$250 Million Term Loan (First Term Loan) | Term Loans:
Short-term Debt
Unsecured term loan	192,404	202,158
$300 Million Senior Term Loan Agreement (Second Term Loan) | Term Loans:
Short-term Debt
Unsecured term loan	278,846	292,983
$200 Million Senior Term Loan Agreement (Third Term Loan) | Term Loans:
Short-term Debt
Unsecured term loan	$ 26,231	$ 189,365
Minimum | $250 Million Senior Revolving Line Of Credit (Line of Credit) | Line of Credit
Short-term Debt
Basis spread on variable rate (percentage)	1.50%
Minimum | $250 Million Term Loan (First Term Loan) | Term Loans:
Short-term Debt
Basis spread on variable rate (percentage)	1.45%
Minimum | $300 Million Senior Term Loan Agreement (Second Term Loan) | Term Loans:
Short-term Debt
Basis spread on variable rate (percentage)	1.35%
Minimum | $200 Million Senior Term Loan Agreement (Third Term Loan) | Term Loans:
Short-term Debt
Basis spread on variable rate (percentage)	1.45%
Maximum | $250 Million Senior Revolving Line Of Credit (Line of Credit) | Line of Credit
Short-term Debt
Basis spread on variable rate (percentage)	2.25%
Maximum | $250 Million Term Loan (First Term Loan) | Term Loans:
Short-term Debt
Basis spread on variable rate (percentage)	2.20%
Maximum | $300 Million Senior Term Loan Agreement (Second Term Loan) | Term Loans:
Short-term Debt
Basis spread on variable rate (percentage)	2.00%
Maximum | $200 Million Senior Term Loan Agreement (Third Term Loan) | Term Loans:
Short-term Debt
Basis spread on variable rate (percentage)	2.20%

DEBT (Unsecured Notes Payable)

DEBT (Unsecured Notes Payable) (Details) - Junior Subordinated Debt $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021USD ($)loan	Jun. 30, 2020loan	Jun. 30, 2021USD ($)loan	Jun. 30, 2020loan
Hersha Statutory Trust I and Hersha Statutory Trust II
Subordinated Notes Payable
Number of debt instruments | loan	2	2	2	2
Subordinated notes payable	$ 51,548		$ 51,548
Number of business days prior to quarterly interest payments for resetting rates			2 days
Debt instrument, interest rate during period (in hundredths)	3.19%	4.08%	3.20%	4.45%
Hersha Statutory Trust I
Subordinated Notes Payable
Subordinated notes payable	$ 25,774		$ 25,774
Basis spread on variable rate (percentage)			3.00%
Hersha Statutory Trust II
Subordinated Notes Payable
Subordinated notes payable	$ 25,774		$ 25,774
Basis spread on variable rate (percentage)			3.00%

DEBT (Junior Notes Payable) (De

DEBT (Junior Notes Payable) (Details) - Payment in Kind (PIK) Note - USD ($)	Feb. 17, 2021	Jun. 30, 2021
Debt Instrument
Debt instrument, face amount	$ 150,000	$ 152,514,000
Debt instrument, interest rate, percentage	0.095%
Discretionary withdrawal amount	$ 50,000
Debt instrument, minimum installments	$ 25,000
Discretionary interest rate, stated percentage	0.0475%
PIK, stated percentage	4.75%
Increase in accrued interest		$ 2,514,000
Debt Instrument, Redemption, Period One
Debt Instrument
Redemption percentage	104.00%
Debt Instrument, Redemption, Period Two
Debt Instrument
Redemption percentage	102.00%

DEBT (Schedule of Interest Expe

DEBT (Schedule of Interest Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Debt Instrument
Deferred Financing Costs Amortization	$ 1,088	$ 702	$ 2,380	$ 1,267
Other	105	161	175	337
Total Interest Expense	14,982	13,481	28,411	26,488
Line of Credit
Debt Instrument
Interest expense related to debt instrument	3,754	5,370	8,122	12,404
Interest Rate Swap | Line of Credit
Debt Instrument
Interest expense related to debt instrument	2,417	3,133	4,841	4,219
Mortgages
Debt Instrument
Interest expense related to debt instrument	2,680	3,031	5,415	6,516
Mortgages | Hersha Statutory Trust I and Hersha Statutory Trust II
Debt Instrument
Interest expense related to debt instrument	4,311	532	6,248	1,160
Mortgages | Interest Rate Swap
Debt Instrument
Interest expense related to debt instrument	$ 627	$ 552	$ 1,230	$ 585

LEASES (Narrative) (Details)

LEASES (Narrative) (Details)	Jun. 30, 2021leaseproperty
Land
Lessee, Lease, Description
Number of real estate properties (property) | property	5
Building
Lessee, Lease, Description
Number of lease agreements (leases) | lease	2

LEASES (Lease Costs) (Details)

LEASES (Lease Costs) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Lessee, Lease, Description
Operating lease costs	$ 1,171	$ 1,171	$ 2,368	$ 2,342
Variable lease costs	97	95	205	175
Total lease costs	1,268	1,266	2,573	2,517
Ground Lease
Lessee, Lease, Description
Operating lease costs	1,050	1,050	2,126	2,100
Variable lease costs	14	8	38	21
Total lease costs	1,064	1,058	2,164	2,121
Office Lease
Lessee, Lease, Description
Operating lease costs	121	121	242	242
Variable lease costs	83	87	167	154
Total lease costs	$ 204	$ 208	$ 409	$ 396

LEASES (Other Information) (Det

LEASES (Other Information) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Leases [Abstract]
Cash paid from operating cash flow for operating leases	$ 2,246	$ 1,951
Weighted average remaining lease term (in years)	64 years 2 months 12 days	64 years 2 months 12 days
Weighted average discount rate (in percent)	7.87%	7.86%

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES AND RELATED PARTY TRANSACTIONS (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2021USD ($)property	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)property	Jun. 30, 2020USD ($)	Dec. 31, 2020USD ($)	Apr. 01, 2020USD ($)
Management Agreements
Term of management agreements with HHMLP (in years)			5 years
Base management fee as percentage of gross revenues (percentage)			3.00%
Base management fees incurred	$ 1,745,000	$ 564,000	$ 2,925,000	$ 2,933,000
Incentive management fees incurred	0	0	0	0
Franchise Agreements
Franchise fee expense	2,465,000	775,000
Accounting and Information Technology Fees
Accounting fees	277,000	319,000	590,000	644,000
Information technology fees	90,000	103,000	$ 191,000	208,000
Capital Expenditure Fees
Fee on all capital expenditures and pending renovation projects at the properties (percentage)			5.00%
Fees incurred on capital expenditures	78,000	56,000	$ 197,000	956,000
Acquisitions From Affiliates
Period of right of first refusal per option agreement with officers and affiliated trustees after termination			1 year
Hotel Supplies
Hotel supplies	0	11,000	$ 1,000	63,000
Charges for capital expenditure purchases	86,000	176,000	220,000	1,056,000
Lessee Disclosure
Rent forgiven						$ 103,000
Revenue from related parties			0	0
Due from Related Parties, Unclassified
Due from related parties	1,552,000		1,552,000		$ 2,641,000
Due to Related Parties
Due to related parties	$ 0		$ 0		$ 0
Hotel
Lessee Disclosure
Number of real estate properties (property) | property	3		3
Minimum
Franchise Agreements
Terms of franchise agreements (in years)			10 years
Accounting and Information Technology Fees
Monthly fees for accounting services per property for hotels managed by HHMLP			$ 2,000
Monthly information technology fees per property for hotels managed by HHMLP, minimum			$ 1,000
Maximum
Franchise Agreements
Terms of franchise agreements (in years)			20 years
Accounting and Information Technology Fees
Monthly fees for accounting services per property for hotels managed by HHMLP			$ 3,000
Monthly information technology fees per property for hotels managed by HHMLP, minimum			$ 2,000
Executive Officer
Hotel Supplies
Related party transaction, purchases from related party		$ 1,388,000		2,984,000
Lessee Disclosure
Ownership percentage in related party (in percentage)	70.00%		70.00%
Lease Agreements | Executive Officer
Lessee Disclosure
Term of lease (in years)	5 years		5 years
Franchise
Franchise Agreements
Franchise fee expense			$ 4,287,000	$ 4,603,000

FAIR VALUE MEASUREMENTS AND D_3

FAIR VALUE MEASUREMENTS AND DERIVATIVE INSTRUMENTS (Fair Value Of Interest Rate Swaps And Caps) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Derivatives, Fair Value
Estimated Fair Value	$ (17,252)	$ (26,259)
Interest Rate Swap | Credit Facility October 3, 2019
Derivatives, Fair Value
Strike Rate	1.341%
Index	2.20%
Notional Amount	$ 150,000
Estimated Fair Value	$ (165)	(1,070)
Interest Rate Swap II | Credit Facility September 3, 2019
Derivatives, Fair Value
Strike Rate	1.316%
Index	2.20%
Notional Amount	$ 43,900
Estimated Fair Value	$ (47)	(307)
Interest Rate Swap III | Credit Facility September 3, 2019
Derivatives, Fair Value
Strike Rate	1.824%
Index	2.20%
Notional Amount	$ 103,500
Estimated Fair Value	$ (1,944)	(2,793)
Interest Rate Swap IV | Credit Facility September 3, 2019
Derivatives, Fair Value
Strike Rate	1.824%
Index	2.20%
Notional Amount	$ 103,500
Estimated Fair Value	$ (1,944)	(2,793)
Interest Rate Swap V | Credit Facility September 10, 2019
Derivatives, Fair Value
Strike Rate	1.46%
Index	2.00%
Notional Amount	$ 300,000
Estimated Fair Value	$ (8,790)	(13,286)
Interest Rate Cap | Annapolis Waterfront Hotel, MD
Derivatives, Fair Value
Strike Rate	3.35%
Index	2.65%
Notional Amount	$ 28,000
Estimated Fair Value	$ 0	0
Interest Rate Swap VII | Hyatt, Union Square, New York, NY
Derivatives, Fair Value
Strike Rate	1.87%
Index	2.30%
Notional Amount	$ 56,000
Estimated Fair Value	$ (1,743)	(2,305)
Interest Rate Swap VIII | Hilton Garden Inn Tribeca, New York, NY
Derivatives, Fair Value
Strike Rate	1.768%
Index	2.25%
Notional Amount	$ 22,725
Estimated Fair Value	$ (869)	(1,222)
Interest Rate Swap IX | Hilton Garden Inn Tribeca, New York, NY
Derivatives, Fair Value
Strike Rate	1.768%
Index	2.25%
Notional Amount	$ 22,725
Estimated Fair Value	$ (869)	(1,222)
Interest Rate Swap X | Hilton Garden Inn 52nd Street, New York, NY
Derivatives, Fair Value
Strike Rate	1.54%
Index	2.30%
Notional Amount	$ 44,325
Estimated Fair Value	$ (869)	(1,186)
Interest Rate Swap XI | Courtyard, LA Westside, Culver City, CA
Derivatives, Fair Value
Strike Rate	0.495%
Index	3.75%
Notional Amount	$ 35,000
Estimated Fair Value	$ (12)	$ (75)

FAIR VALUE MEASUREMENTS AND D_4

FAIR VALUE MEASUREMENTS AND DERIVATIVE INSTRUMENTS (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Derivatives, Fair Value
Other comprehensive income (loss), cash flow hedge	$ 141	$ (1,228)	$ (159)	$ (2,205)
Gain (loss) on fair value of derivative instruments	2,398	(792)	(9,163)	(30,941)
Unrealized gain (loss) reclassified from accumulated other comprehensive income to interest expense	(141)	$ 1,228	159	$ 2,205
Loss to be reclassified to interest expense during next 12 months	10,059		10,059
Interest Rate Swap
Derivatives, Fair Value
Other comprehensive income (loss), cash flow hedge			330
Carrying (Reported) Amount, Fair Value Disclosure
Derivatives, Fair Value
Carrying value and estimated fair value of debt	1,112,492		1,112,492		$ 1,196,434
Estimate of Fair Value, Fair Value Disclosure
Derivatives, Fair Value
Carrying value and estimated fair value of debt	$ 1,141,023		$ 1,141,023		$ 1,176,625

SHARE BASED PAYMENTS (Narrative

SHARE BASED PAYMENTS (Narrative) (Details) - $ / shares	Mar. 17, 2021	Mar. 03, 2021	Jun. 30, 2021	Dec. 31, 2020
LTIP Unit Awards
Share-based Compensation Arrangement by Share-based Payment Award
Granted (in shares)			794,683
Compensation cost not yet recognized, period for recognition (in years)			2 years
Restricted Share Awards
Share-based Compensation Arrangement by Share-based Payment Award
Granted (in shares)			116,743
Compensation cost not yet recognized, period for recognition (in years)			1 year 1 month 6 days
Short Term Incentive Program | LTIP Unit Awards
Share-based Compensation Arrangement by Share-based Payment Award
Granted (in shares)	519,732
Vesting period (in years)	2 years
2021 Long Term Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award
Shareholders return as percentage of award for achievement (percent)		37.50%
Shareholders return as percentage of peer group achievement (percent)		37.50%
Shareholders return as percentage of relative achievement (percent)		25.00%
Share price (in dollar per share)				$ 8.43
2021 Long Term Incentive Plan | Group One
Share-based Compensation Arrangement by Share-based Payment Award
Vesting schedule (percentage)		50.00%
2021 Long Term Incentive Plan | Group Two
Share-based Compensation Arrangement by Share-based Payment Award
Vesting schedule (percentage)		50.00%
2021 Long Term Incentive Plan | LTIP Unit Awards
Share-based Compensation Arrangement by Share-based Payment Award
Granted (in shares)	247,689
2021 Long Term Incentive Plan | LTIP Unit Awards | Group One
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period (in years)		3 years
2021 Long Term Incentive Plan | LTIP Unit Awards | Group Two
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period (in years)		3 years
Vesting schedule (percentage)		50.00%
2020 Short Term Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award
Share price (in dollar per share)				$ 8.43

SHARE BASED PAYMENTS (Summary O

SHARE BASED PAYMENTS (Summary Of Share Based Compensation Activity) (Details)	6 Months Ended
	Jun. 30, 2021$ / sharesshares
LTIP Unit Awards
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares
Unvested balance, beginning of the period (in shares)	898,126
Granted (in shares)	794,683
Vested (in shares)	(13,512)
Forfeited (in shares)	0
Unvested balance, end of the period (in shares)	1,679,297
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value
Weighted average grant date fair value, unvested balance at the beginning of the period (in dollars per share) | $ / shares	$ 6.15
Weighted average grant date fair value, unvested balance, granted (in dollars per share) | $ / shares	12.86
Weighted average grant date fair value, unvested balance, vested (in dollars per share) | $ / shares	12.23
Weighted average grant date fair value, unvested balance at the end of the period (in dollars per share) | $ / shares	$ 9.28
Restricted Share Awards
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares
Unvested balance, beginning of the period (in shares)	202,878
Granted (in shares)	116,743
Vested (in shares)	(239,736)
Forfeited (in shares)	(150)
Unvested balance, end of the period (in shares)	79,735
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value
Weighted average grant date fair value, unvested balance at the beginning of the period (in dollars per share) | $ / shares	$ 7.87
Weighted average grant date fair value, unvested balance, granted (in dollars per share) | $ / shares	10.18
Weighted average grant date fair value, unvested balance, vested (in dollars per share) | $ / shares	7.73
Weighted average grant date fair value, unvested balance, forfeited (in dollars per share) | $ / shares	11.31
Weighted average grant date fair value, unvested balance at the end of the period (in dollars per share) | $ / shares	$ 11.68
Share Awards
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares
Unvested balance, beginning of the period (in shares)	0
Granted (in shares)	32,460
Vested (in shares)	(32,460)
Forfeited (in shares)	0
Unvested balance, end of the period (in shares)	0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value
Weighted average grant date fair value, unvested balance, granted (in dollars per share) | $ / shares	$ 11.31
Weighted average grant date fair value, unvested balance, vested (in dollars per share) | $ / shares	$ 11.31

SHARE BASED PAYMENTS (Summary_2

SHARE BASED PAYMENTS (Summary of share based compensation expense and unearned compensation) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award
Share Based Compensation Expense	$ 2,589	$ 1,799	$ 4,758	$ 4,255
Unearned Compensation	11,830		11,830		$ 4,051
LTIP Unit Awards
Share-based Compensation Arrangement by Share-based Payment Award
Share Based Compensation Expense	1,534	1,142	3,258	2,951
Unearned Compensation	8,049		8,049		1,842
Restricted Share Awards
Share-based Compensation Arrangement by Share-based Payment Award
Share Based Compensation Expense	254	342	422	674
Unearned Compensation	762		762		276
Share Awards
Share-based Compensation Arrangement by Share-based Payment Award
Share Based Compensation Expense	367	0	367	0
Unearned Compensation	0		0		0
Market Based
Share-based Compensation Arrangement by Share-based Payment Award
Share Based Compensation Expense	434	315	711	630
Unearned Compensation	3,019		3,019		1,933
Performance Based
Share-based Compensation Arrangement by Share-based Payment Award
Share Based Compensation Expense	0	$ 0	0	$ 0
Unearned Compensation	$ 0		$ 0		$ 0

SHARE BASED PAYMENTS (Remaining

SHARE BASED PAYMENTS (Remaining unvested target units expected to vest) (Details)	Jun. 30, 2021shares
2021
Share-based Compensation Arrangement by Share-based Payment Award
Remaining unvested target units, expected to vest (in units)	960,046
2022
Share-based Compensation Arrangement by Share-based Payment Award
Remaining unvested target units, expected to vest (in units)	661,608
2023
Share-based Compensation Arrangement by Share-based Payment Award
Remaining unvested target units, expected to vest (in units)	72,454
2024
Share-based Compensation Arrangement by Share-based Payment Award
Remaining unvested target units, expected to vest (in units)	64,924
LTIP Unit Awards | 2021
Share-based Compensation Arrangement by Share-based Payment Award
Remaining unvested target units, expected to vest (in units)	960,046
LTIP Unit Awards | 2022
Share-based Compensation Arrangement by Share-based Payment Award
Remaining unvested target units, expected to vest (in units)	595,406
LTIP Unit Awards | 2023
Share-based Compensation Arrangement by Share-based Payment Award
Remaining unvested target units, expected to vest (in units)	61,921
LTIP Unit Awards | 2024
Share-based Compensation Arrangement by Share-based Payment Award
Remaining unvested target units, expected to vest (in units)	61,924
Restricted Share Awards | 2021
Share-based Compensation Arrangement by Share-based Payment Award
Remaining unvested target units, expected to vest (in units)	0
Restricted Share Awards | 2022
Share-based Compensation Arrangement by Share-based Payment Award
Remaining unvested target units, expected to vest (in units)	66,202
Restricted Share Awards | 2023
Share-based Compensation Arrangement by Share-based Payment Award
Remaining unvested target units, expected to vest (in units)	10,533
Restricted Share Awards | 2024
Share-based Compensation Arrangement by Share-based Payment Award
Remaining unvested target units, expected to vest (in units)	3,000

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Basic and Diluted
Net Loss		$ (23,523)	$ (71,780)	$ (14,433)	$ (97,752)
Loss allocated to Noncontrolling Interests		977	10,360	813	13,257
Distributions to Preferred Shareholders		(6,044)	(6,044)	(12,087)	(12,088)
Net loss applicable to Common Shareholders		$ (28,590)	$ (67,464)	$ (25,707)	$ (96,583)
DENOMINATOR:
Weighted average number of common shares - basic (in shares)		39,097,820	38,609,922	39,034,707	38,587,011
Effect of dilutive securities:
Restricted stock awards and LTIP units (unvested) (in shares)		0	0	0	0
Contingently issued shares and units (in shares)		0	0	0	0
Weighted average number of common shares - diluted (in shares)	[1]	39,097,820	38,609,922	39,034,707	38,587,011
[1]	Income (Loss) allocated to noncontrolling interest in Hersha Hospitality Limited Partnership (the “Operating Partnership” or “HHLP”) has been excluded from the numerator and the Class A common shares issuable upon any redemption of the Operating Partnership’s common units of limited partnership interest (“Common Units”) and the Operating Partnership’s vested LTIP units (“Vested LTIP Units”) have been omitted from the denominator for the purpose of computing diluted earnings per share because the effect of including these shares and units in the numerator and denominator would have no impact. In addition, potentially dilutive common shares, if any, have been excluded from the denominator if they are anti-dilutive to income (loss) applicable to common shareholders.

CASH FLOW DISCLOSURES AND NON_3

CASH FLOW DISCLOSURES AND NON CASH INVESTING AND FINANCING ACTIVITIES (Narrative) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Supplemental Cash Flow Elements [Abstract]
Interest paid	$ 20,052	$ 21,488
Net payments for interest rate derivatives	6,259	(1,505)
Cash paid for income taxes	$ 60	$ 233

CASH FLOW DISCLOSURES AND NON_4

CASH FLOW DISCLOSURES AND NON CASH INVESTING AND FINANCING ACTIVITIES (Non-cash Investing And Financing Activities) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Noncash Investing and Financing Items [Abstract]
Common Shares issued as part of the Dividend Reinvestment Plan	$ 0	$ 14
Issuance of share based payments	13,103	6,404
Accrued payables for capital expenditures placed into service	230	1,398
Adjustment to Record Noncontrolling Interest at Redemption Value	$ 1,968	$ (3,196)

CASH FLOW DISCLOSURES AND NON_5

CASH FLOW DISCLOSURES AND NON CASH INVESTING AND FINANCING ACTIVITIES (Reconciliation of Cash) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019
Supplemental Cash Flow Elements [Abstract]
Cash and cash equivalents	$ 69,083	$ 16,637	$ 23,228
Escrowed cash	11,067	6,970	7,374
Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows	$ 80,150	$ 23,607	$ 30,602	$ 36,985