Hersha Hospitality Trust (HT) 10-Q 9 Aug 22 2022 Q2 Quarterly report Financial data

Cover page

Cover page - shares	6 Months Ended
	Jun. 30, 2022	Aug. 09, 2022
Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
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	2022
Document Fiscal Period Focus	Q2
Amendment Flag	false
Class A Common Shares of Beneficial Interest, par value $.01 per share
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)		39,594,963
6.875% Series C Cumulative Redeemable Preferred Shares of Beneficial Interest, par $.01 per share
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
6.500% Series D Cumulative Redeemable Preferred Shares of Beneficial Interest, par $.01 per share
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
6.500% Series E Cumulative Redeemable Preferred Shares of Beneficial Interest, par $.01 per share
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, 2022	Dec. 31, 2021
Assets:
Investment in Hotel Properties, Net of Accumulated Depreciation	$ 1,335,479	$ 1,665,097
Investment in Unconsolidated Joint Ventures	5,486	5,580
Cash and Cash Equivalents	87,918	72,238
Escrow Deposits	12,764	12,707
Hotel Accounts Receivable	8,242	8,491
Due from Related Parties	534	2,495
Intangible Assets, Net of Accumulated Amortization of $7,075 and $6,944	1,204	1,335
Right of Use Assets	30,152	43,442
Other Assets	36,152	21,759
Hotel Assets Held for Sale	318,716	0
Total Assets	1,836,647	1,833,144
Liabilities and Equity:
Line of Credit	118,684	118,684
Term Loans, Net of Unamortized Deferred Financing Costs (Note 5)	496,527	496,085
Unsecured Notes Payable, Net of Unamortized Discount and Unamortized Deferred Financing Costs (Note 5)	201,386	198,490
Mortgages Payable, Net of Unamortized Premium and Unamortized Deferred Financing Costs	229,605	304,614
Lease Liabilities	47,744	53,691
Accounts Payable, Accrued Expenses and Other Liabilities	38,990	43,207
Dividends and Distributions Payable	6,044	6,044
Liabilities Related to Hotel Assets Held for Sale	79,787	0
Due to Related Parties	482	1,723
Total Liabilities	1,219,249	1,222,538
Redeemable Noncontrolling Interests - Consolidated Joint Venture (Note 1)	5,274	2,310
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, 2022 and December 31, 2021, with Liquidation Preferences of $25.00 Per Share (Note 1)	147	147
Accumulated Other Comprehensive Income (Loss)	15,629	(2,747)
Additional Paid-in Capital	1,154,367	1,155,034
Distributions in Excess of Net Income	(612,951)	(595,454)
Total Shareholders' Equity	557,588	557,374
Noncontrolling Interests (Note 1)	54,536	50,922
Total Equity	612,124	608,296
Total Liabilities and Equity	1,836,647	1,833,144
Class A Common Shares
Shareholders' Equity:
Common Shares	396	394
Class B Common Shares
Shareholders' Equity:
Common Shares	$ 0	$ 0

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Assets:
Intangible assets, accumulated amortization	$ 7,075	$ 6,944
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
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
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
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)	39,514,661	39,325,025
Common shares - outstanding (in shares)	39,514,661	39,325,025
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, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenue:
Other Revenues		$ 91	$ 13	$ 132	$ 25
Total Revenues		123,290	70,096	205,158	117,261
Operating Expenses:
Insurance Recoveries in Excess of Property Losses		(987)	(711)	(962)	(711)
Hotel Ground Rent		1,531	1,064	2,621	2,164
Real Estate and Personal Property Taxes and Property Insurance		8,335	9,466	16,818	19,537
General and Administrative (including Share Based Payments of $3,299 and $2,589 and $5,840 and $4,758 for the three and six months ended June 30, 2022 and 2021, respectively)		6,491	5,287	11,809	10,231
Terminated Transaction Costs		0	36	0	390
Loss on Impairment of Assets		0	222	0	222
Depreciation and Amortization		17,003	21,014	36,279	42,816
Total Operating Expenses		99,466	77,688	183,008	148,139
Operating Income (Loss)		23,824	(7,592)	22,150	(30,878)
Interest Income		1	4	2	5
Interest Expense		(14,769)	(14,982)	(29,006)	(28,411)
Other (Expense) Income		(108)	(84)	(207)	377
Gain on Disposition of Hotel Properties		0	0	0	48,352
Loss on Debt Extinguishment		0	(129)	0	(3,069)
Income (Loss) Before Results from Unconsolidated Joint Venture Investments and Income Taxes		8,948	(22,783)	(7,061)	(13,624)
Income (Loss) from Unconsolidated Joint Ventures		357	(589)	(579)	(1,247)
Income (Loss) Before Income Taxes		9,305	(23,372)	(7,640)	(14,871)
Income Tax (Expense) Benefit		(93)	(151)	(114)	438
Net Income (Loss)		9,212	(23,523)	(7,754)	(14,433)
(Income) Loss Allocated to Noncontrolling Interests		(379)	2,945	2,345	2,623
Income Allocated to Noncontrolling Interests - Consolidated Joint Venture		(691)	(1,968)	(2,964)	(1,810)
Preferred Distributions		(6,043)	(6,044)	(12,087)	(12,087)
Net Income (Loss) Applicable to Common Shareholders		$ 2,099	$ (28,590)	$ (20,460)	$ (25,707)
BASIC
Income (Loss) from Continuing Operations Applicable to Common Shareholders-Basic (in dollars per share)		$ 0.05	$ (0.73)	$ (0.52)	$ (0.66)
DILUTED
Income (Loss) from Continuing Operations Applicable to Common Shareholders- Diluted (in dollars per share)		$ 0.05	$ (0.73)	$ (0.52)	$ (0.66)
Weighted Average Common Shares Outstanding:
Basic (in shares)		39,277,269	39,097,820	39,254,536	39,034,707
Diluted (in shares)	[1]	40,453,785	39,097,820	39,254,536	39,034,707
Room
Revenue:
Hotel Operating Revenues:		$ 98,242	$ 56,539	$ 163,374	$ 95,889
Operating Expenses:
Hotel Operating Expenses		19,447	12,350	34,037	21,548
Food & Beverage
Revenue:
Hotel Operating Revenues:		15,710	7,230	24,766	10,304
Operating Expenses:
Hotel Operating Expenses		11,607	5,409	20,011	8,282
Other Operating Revenues
Revenue:
Hotel Operating Revenues:		9,247	6,314	16,886	11,043
Operating Expenses:
Hotel Operating Expenses		$ 36,039	$ 23,551	$ 62,395	$ 43,660
[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, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Statement [Abstract]
Share Based Compensation Expense	$ 3,299	$ 2,589	$ 5,840	$ 4,758
Antidilutive securities excluded from computation of earnings per share (in shares)	5,262,313	5,627,148	6,375,209	5,490,461
Common Units and Vested LTIP Units
Antidilutive securities excluded from computation of earnings per share (in shares)	5,262,313	4,279,355	5,264,772	4,314,347
Unvested Stock Awards and LTIP Units Outstanding
Antidilutive securities excluded from computation of earnings per share (in shares)	0	939,591	791,544	581,989
Contingently Issuable Share Awards
Antidilutive securities excluded from computation of earnings per share (in shares)	0	408,202	318,893	594,125

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Net Income (Loss)	$ 9,212	$ (23,523)	$ (7,754)	$ (14,433)
Other Comprehensive Income
Change in Fair Value of Derivative Instruments	5,353	2,539	20,842	9,004
Reclassification Adjustment for Change in Fair Value of Derivative Instruments Included in Net Income (Loss)	0	(141)	0	159
Total Other Comprehensive Income	5,353	2,398	20,842	9,163
Comprehensive Income (Loss)	14,565	(21,125)	13,088	(5,270)
Less:  Comprehensive (Income) Loss Attributable to Noncontrolling Interests - Common Units	(1,011)	2,712	(121)	1,711
Less:  Comprehensive Income Attributable to Noncontrolling Interests - Consolidated Joint Venture	(691)	(1,968)	(2,964)	(1,810)
Preferred Distributions	(6,043)	(6,044)	(12,087)	(12,087)
Comprehensive Income (Loss) Attributable to Common Shareholders	$ 6,820	$ (26,425)	$ (2,084)	$ (17,456)

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY - USD ($)	Total	Class A Common Shares	Class B Common Shares	Total Equity	Total Shareholders' Equity	Common Shares	Common Shares Class A Common Shares	Common Shares Class B Common Shares	Preferred Shares	Additional Paid-In Capital	Accumulated Other Comprehensive (Loss) Income	Distributions in Excess of Net Income	Noncontrolling Interest Common Shares
Beginning Balance at Dec. 31, 2020	$ 0
Increase (Decrease) in Temporary Equity
Equity Contribution to Consolidated Joint Venture	158,000
Adjustment to Record Noncontrolling Interest at Redemption Value	1,968,000
Net income (loss)	(158,000)
Ending Balance at Jun. 30, 2021	1,968,000
Balance at the beginning at Dec. 31, 2020				$ 672,249,000	$ 623,003,000		$ 389,000	$ 0	$ 147,000	$ 1,150,985,000	$ (19,275,000)	$ (509,243,000)	$ 49,246,000
Balance at the beginning (in shares) at Dec. 31, 2020						38,843,482
Balance at the beginning (in shares) at Dec. 31, 2020									14,703,214
Balance at the beginning (in shares) at Dec. 31, 2020													5,392,808
Increase (Decrease) in Stockholders' Equity
Unit Conversion				0	2,872,000		2,000			2,870,000			$ (2,872,000)
Unit Conversion (in shares)						225,000							(225,000)
Dividends and Distributions declared:
Preferred Shares				(36,262,000)	(36,262,000)							(36,262,000)
Share Based Compensation:
Grants				2,040,000	357,000		1,000			356,000			$ 1,683,000
Grants (in shares)						148,993							794,683
Amortization				3,740,000	1,414,000					1,414,000			$ 2,326,000
Change in Fair Value of Derivative Instruments	9,163,000			9,163,000	8,251,000						8,251,000		912,000
Adjustment to Record Noncontrolling Interest at Redemption Value				(1,968,000)	(1,968,000)					(1,968,000)
Net income (loss)	(14,433,000)			(14,275,000)	(11,652,000)							(11,652,000)	(2,623,000)
Balance at the end at Jun. 30, 2021				634,687,000	586,015,000		392,000	0	$ 147,000	1,153,657,000	(11,024,000)	(557,157,000)	$ 48,672,000
Balance at the end (in shares) at Jun. 30, 2021						39,217,475
Balance at the end (in shares) at Jun. 30, 2021									14,703,214
Balance at the end (in shares) at Jun. 30, 2021													5,962,491
Beginning Balance at Mar. 31, 2021	0
Increase (Decrease) in Temporary Equity
Adjustment to Record Noncontrolling Interest at Redemption Value	1,968,000
Ending Balance at Jun. 30, 2021	1,968,000
Balance at the beginning at Mar. 31, 2021				661,245,000	612,073,000		$ 391,000	0	$ 147,000	1,154,579,000	(12,509,000)	(530,535,000)	$ 49,172,000
Balance at the beginning (in shares) at Mar. 31, 2021						39,132,307
Balance at the beginning (in shares) at Mar. 31, 2021									14,703,214
Balance at the beginning (in shares) at Mar. 31, 2021													5,943,014
Dividends and Distributions declared:
Preferred Shares				(6,044,000)	(6,044,000)							(6,044,000)
Share Based Compensation:
Grants				431,000	366,000					365,000			$ 65,000
Grants (in shares)						85,168	1,000						19,477
Amortization				2,149,000	681,000					681,000			$ 1,468,000
Change in Fair Value of Derivative Instruments	20,842,000			2,397,000	1,485,000						1,485,000		912,000
Adjustment to Record Noncontrolling Interest at Redemption Value				(1,968,000)	(1,968,000)					(1,968,000)
Net income (loss)	(23,523,000)			(23,523,000)	(20,578,000)							(20,578,000)	(2,945,000)
Balance at the end at Jun. 30, 2021				634,687,000	586,015,000		$ 392,000	0	$ 147,000	1,153,657,000	(11,024,000)	(557,157,000)	$ 48,672,000
Balance at the end (in shares) at Jun. 30, 2021						39,217,475
Balance at the end (in shares) at Jun. 30, 2021									14,703,214
Balance at the end (in shares) at Jun. 30, 2021													5,962,491
Beginning Balance at Dec. 31, 2021	2,310,000
Ending Balance at Jun. 30, 2022	5,274,000
Balance at the beginning at Dec. 31, 2021	$ 608,296,000			608,296,000	557,374,000		394,000	0	$ 147,000	1,155,034,000	(2,747,000)	(595,454,000)	$ 50,922,000
Balance at the beginning (in shares) at Dec. 31, 2021		39,325,025	0			39,325,025
Balance at the beginning (in shares) at Dec. 31, 2021	14,703,214								14,703,214
Balance at the beginning (in shares) at Dec. 31, 2021													6,926,253
Increase (Decrease) in Stockholders' Equity
Issuance Costs/Other					(48,000)					(48,000)
Unit Conversion					426,000		1,000			425,000			$ (426,000)
Unit Conversion (in shares)						50,000							(50,000)
Dividends and Distributions declared:
Preferred Shares				(12,088,000)	(12,088,000)							(12,088,000)
Share Based Compensation:
Grants				0	0		1,000			(1,000)			$ 0
Grants (in shares)						139,636							194,427
Amortization				5,840,000	1,921,000					1,921,000			$ 3,919,000
Change in Fair Value of Derivative Instruments	$ 2,398,000			20,842,000	18,376,000						18,376,000		2,466,000
Adjustment to Record Noncontrolling Interest at Redemption Value				(2,964,000)	(2,964,000)					(2,964,000)
Net income (loss)	(7,754,000)			(7,754,000)	(5,409,000)							(5,409,000)	(2,345,000)
Balance at the end at Jun. 30, 2022	$ 612,124,000			612,124,000	557,588,000		396,000	0	$ 147,000	1,154,367,000	15,629,000	(612,951,000)	$ 54,536,000
Balance at the end (in shares) at Jun. 30, 2022		39,514,661	0			39,514,661
Balance at the end (in shares) at Jun. 30, 2022	14,703,214								14,703,214
Balance at the end (in shares) at Jun. 30, 2022													7,070,680
Beginning Balance at Mar. 31, 2022	$ 4,583,000
Increase (Decrease) in Temporary Equity
Adjustment to Record Noncontrolling Interest at Redemption Value	691,000
Net income (loss)	0
Ending Balance at Jun. 30, 2022	5,274,000
Balance at the beginning at Mar. 31, 2022				601,004,000	549,195,000		394,000	0	$ 147,000	1,153,486,000	10,908,000	(615,740,000)	$ 51,809,000
Balance at the beginning (in shares) at Mar. 31, 2022						39,354,893
Balance at the beginning (in shares) at Mar. 31, 2022									14,703,214
Balance at the beginning (in shares) at Mar. 31, 2022													6,926,253
Increase (Decrease) in Stockholders' Equity
Issuance Costs/Other	(10,000)				(10,000)					(10,000)
Unit Conversion					426,000		1,000			425,000			$ (426,000)
Unit Conversion (in shares)						50,000							(50,000)
Dividends and Distributions declared:
Preferred Shares				(6,044,000)	(6,044,000)							(6,044,000)
Share Based Compensation:
Grants				1,000	1,000		1,000
Grants (in shares)						109,768							194,427
Amortization				3,299,000	1,157,000					1,157,000			$ 2,142,000
Change in Fair Value of Derivative Instruments	5,353,000			5,353,000	4,721,000						4,721,000		632,000
Adjustment to Record Noncontrolling Interest at Redemption Value	(691,000)				(691,000)					(691,000)
Net income (loss)	9,212,000			9,212,000	8,833,000							8,833,000	379,000
Balance at the end at Jun. 30, 2022	$ 612,124,000			$ 612,124,000	$ 557,588,000		$ 396,000	$ 0	$ 147,000	$ 1,154,367,000	$ 15,629,000	$ (612,951,000)	$ 54,536,000
Balance at the end (in shares) at Jun. 30, 2022		39,514,661	0			39,514,661
Balance at the end (in shares) at Jun. 30, 2022	14,703,214								14,703,214
Balance at the end (in shares) at Jun. 30, 2022													7,070,680

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Operating Activities:
Net Income (Loss)	$ (7,754)	$ (14,433)
Adjustments to Reconcile Net Loss to Net Cash Provided by Operating Activities:
Gain on Disposition of Hotel Properties	0	(48,352)
Loss on Impairment of Assets	0	222
Insurance recoveries in excess of property loss	(962)	(711)
Junior Note PIK Interest Added to Principal	1,855	2,514
Deferred Taxes	0	(499)
Depreciation	36,117	42,642
Amortization	3,017	2,594
Loss on Debt Extinguishment	0	634
Equity in Loss of Unconsolidated Joint Ventures	579	1,247
Loss Recognized on Change in Fair Value of Derivative Instrument	0	159
Share Based Compensation Expense	5,840	4,758
(Increase) Decrease in:
Hotel Accounts Receivable	249	151
Other Assets	(4,057)	(4,055)
Due from Related Parties	1,961	1,089
Increase (Decrease) in:
Due to Related Parties	(1,241)	0
Accounts Payable, Accrued Expenses and Other Liabilities	4,882	4,933
Net Cash Provided by (Used in) Operating Activities	40,486	(7,107)
Investing Activities:
Capital Expenditures	(12,041)	(5,374)
Proceeds from Disposition of Hotel Properties	0	163,583
Contributions to Unconsolidated Joint Ventures	(485)	(550)
Proceeds from Insurance Claims	1,294	0
Net Cash (Used in) Provided by Investing Activities	(11,232)	157,659
Financing Activities:
Repayments on Line of Credit	0	(14,369)
Payments on Term Loans	0	(187,024)
Proceeds from Mortgages and Notes Payable	0	144,750
Principal Repayment of Mortgages	(1,221)	(1,353)
Deferred Financing Costs	(209)	(5,795)
Dividends Paid on Preferred Shares	(12,087)	(30,218)
Net Cash Used in Financing Activities	(13,517)	(94,009)
Net Increase in Cash, Cash Equivalents, and Restricted Cash	15,737	56,543
Cash, Cash Equivalents, and Restricted Cash - Beginning of Period	84,945	23,607
Cash, Cash Equivalents, and Restricted Cash - End of Period	$ 100,682	$ 80,150

BASIS OF PRESENTATION

BASIS OF PRESENTATION	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	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, 2022 are not necessarily indicative of the results that may be expected for the year ending December 31, 2022 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, 2021, which are included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021, 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, 2022, we owned an approximate 85.0% 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, 2022 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, 2021. 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 $54,536 as of June 30, 2022 and $50,922 as of December 31, 2021. As of June 30, 2022, there w ere 7,070,680 Common Units and LTIP Units outstanding with a fair market value of $69,363 , 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 the book value of the noncontrolling interest in the Ritz Coconut Grove is classified as temporary equity within our Consolidated Balance Sheets. For Ritz Coconut Grove, income or loss is allocated using Hypothetical Liquidation at Book Value ("HLBV method") as the liquidation rights and priorities, as defined by the venture's governing agreement, differs from the underlying percentage ownership in the venture. The Company applies the HLBV method using a balance sheet approach. A calculation is prepared at each balance sheet date to determine the amount that we would receive if the venture entity were to liquidate all of its assets at carrying value and distribute that cash to the joint venture based on the contractually defined liquidation priorities. The difference between the calculated liquidation distribution amounts at the beginning and the end of the reporting period, after adjusting for capital contributions and distributions, is our share of the earnings or losses and the remainder is allocated to noncontrolling interest. The noncontrolling interest in the Ritz Coconut Grove is measured at the greater of historical cost or the put option redemption value, and is recorded as part of the Income (Loss) Allocated to Noncontrolling Interests line item within the Consolidated Statements of Operations. The value of the noncontrolling interest at the put option redemption value was $5,274 as of June 30, 2022. As such, we reclassified $2,964 from Additional Paid in Capital to Redeemable Noncontrolling Interests - Consolidated Joint Venture during the six months ended June 30, 2022 to record the noncontrolling interest at the estimated value of the put option. NOTE 1 - BASIS OF PRESENTATION (CONTINUED) Shareholders’ Equity Terms of the Series C, Series D, and Series E Preferred Shares outstanding at June 30, 2022 and December 31, 2021 are summarized as follows: Dividend Per Share (1) Shares Outstanding Six Months Ended June 30, Series June 30, 2022 December 31, 2021 Aggregate Liquidation Preference Distribution Rate 2022 2021 Series C 3,000,000 3,000,000 $ 75,000 6.875 % $ 0.8594 $ 2.5782 Series D 7,701,700 7,701,700 $ 192,500 6.500 % $ 0.8126 $ 2.4378 Series E 4,001,514 4,001,514 $ 100,000 6.500 % $ 0.8126 $ 2.4378 Total 14,703,214 14,703,214 (1) 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 was paid July 15, 2021 to holders of record as of July 1, 2021. The Company is current on dividend obligations on all Series of cumulative redeemable preferred stock as of June 30, 2022. 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 as a result of government mandates, health official recommendations, corporate policy changes and individual responses. We believe the ongoing effects of the COVID-19 pandemic on our operations have had, and may 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. On August 4, 2022, we closed on the sale of six of the seven previously announced hotel dispositions to an unaffiliated buyer for a purchase price of $435,900. These six hotels included the Courtyard Brookline, the Hampton Inn Washington, DC, Hilton Garden Inn M Street Washington, DC, Hampton Inn - Philadelphia, TownePlace Suites Sunnyvale and the Courtyard Los Angeles Westside. The proceeds from the sale were used to pay off the Company's junior subordinated notes (the "Junior Notes"), which the Company entered into on February 17, 2021, at a redemption price of 104%, or $164,418. Proceeds from the sale were also used to pay down amounts borrowed under the Company’s line of credit and term loans. Also on August 4, 2022, the Company entered into a new credit agreement for a senior secured credit facility which provides for a $100,000 revolving line of credit and $400,000 term loan. The Company made an initial draw of $400,000 on the facility’s term loan, using the proceeds to pay off the remaining balances under the Company’s prior line of credit and term loans, effectively reducing the Company’s borrowings and moving the maturity of borrowings under the Company’s credit facility to August of 2024. The $100,000 line of credit provided by the new credit facility remains undrawn. See Note 5 – Debt for additional information borrowings under the Company’s prior credit facility, new credit facility, notes payable, and mortgages. After considering the reduction in debt from proceeds of the hotel dispositions noted above, the effective extension of maturities of borrowings under our new credit agreement noted above, and forecasted cash flows, the Company believes that it has sufficient liquidity to meet its obligations for the next twelve months. 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 and we cannot estimate when travel demand will fully recover. NOTE 1 - BASIS OF PRESENTATION (CONTINUED) 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. 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, 2022, 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. 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 modifications for our other remaining contracts, 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. Some debt contract modifications will occur in the normal course of business and will include other changes in the terms, for which we do not anticipate that this accounting relief will be applicable. However, we anticipate that other debt contract modifications will occur prior to the phase out of LIBOR on June 30, 2023 specifically to address the LIBOR transition, for which we will be able to apply the accounting relief.

INVESTMENT IN HOTEL PROPERTIES

INVESTMENT IN HOTEL PROPERTIES	6 Months Ended
	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
INVESTMENT IN HOTEL PROPERTIES	INVESTMENT IN HOTEL PROPERTIES Investment in hotel properties consists of the following at June 30, 2022 and December 31, 2021: June 30, 2022 December 31, 2021 Land $ 403,611 $ 478,412 Buildings and Improvements 1,240,265 1,560,768 Furniture, Fixtures and Equipment 219,901 274,802 Construction in Progress 4,897 1,784 1,868,674 2,315,766 Less Accumulated Depreciation (533,195) (650,669) Total Investment in Hotel Properties * $ 1,335,479 $ 1,665,097 * The net book value of investment in hotel property at Ritz Coconut Grove, which is a variable interest entity, is $38,256 and $39,577 at June 30, 2022 and December 31, 2021, respectively. Acquisitions For the six months ended June 30, 2022 and 2021, we acquired no hotel properties. Hotel Dispositions For the six months ended June 30, 2022, 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 $ 5,032 The Capitol Hill Hotel Washington, DC 04/15/2011 03/09/2021 51,000 12,975 Holiday Inn Express Cambridge, MA 05/03/2006 03/09/2021 32,000 20,280 Residence Inn Miami Coconut Grove, FL 06/12/2013 03/10/2021 31,000 9,996 2021 Total $ 48,283 Assets Held For Sale As of December 31, 2021, there were no assets held for sale. The table below shows the balances for the seven properties noted above that were classified as held for sale as of June 30, 2022: June 30, 2022 Land $ 74,801 Right of Use Asset - Land Lease 12,705 Buildings and Improvements 325,566 Furniture, Fixtures and Equipment 59,096 472,168 Less Accumulated Depreciation (153,452) Assets Held for Sale $ 318,716 Liabilities Related to Hotel Assets Held for Sale Liabilities related to hotel assets held for sale at June 30, 2022 and December 31, 2021 consisted of the following: June 30, 2022 December 31, 2021 Mortgage Indebtedness $ 74,522 $ — Net Unamortized Deferred Financing Costs (359) — Lease Liabilities 5,624 — Liabilities Related to Hotel Assets Held for Sale $ 79,787 $ —

INVESTMENT IN UNCONSOLIDATED JO

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES	6 Months Ended
	Jun. 30, 2022
Equity Method Investments and Joint Ventures [Abstract]
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES	INVESTMENT IN UNCONSOLIDATED JOINT VENTURES As of June 30, 2022 and December 31, 2021, our investment in unconsolidated joint ventures consisted of the following: Joint Venture Hotel Properties Percent Owned June 30, 2022 December 31, 2021 Hiren Boston, LLC Courtyard by Marriott, South Boston, MA 50 % 407 189 SB Partners, LLC Holiday Inn Express, South Boston, MA 50 % — — SB Partners Three, LLC Home2 Suites, South Boston, MA 50 % 5,079 5,391 $ 5,486 $ 5,580 Income/Loss Allocation 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. When we absorb cumulative losses equal to our accounting basis in the joint venture, our investment balance is $0 as presented in the table above. 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. Income (loss) recognized during the three and six months ended June 30, 2022 and 2021, for our investments in unconsolidated joint ventures is as follows: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Hiren Boston, LLC $ 301 $ (354) 42 (689) SB Partners, LLC — (50) (310) (50) SB Partners Three, LLC 56 (185) (311) (508) Income (Loss) from Unconsolidated Joint Venture Investments $ 357 $ (589) $ (579) $ (1,247) 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, 2022 and December 31, 2021 and for the three and six months ended June 30, 2022 and 2021. Balance Sheets June 30, 2022 December 31, 2021 Assets Investment in Hotel Properties, Net $ 61,627 $ 64,096 Other Assets 17,266 15,649 Total Assets $ 78,893 $ 79,745 Liabilities and Equity Mortgages $ 65,461 $ 65,723 Other Liabilities 15,892 15,656 Equity: Hersha Hospitality Trust 2,978 3,328 Joint Venture Partner(s) (5,438) (4,962) Total Equity (2,460) (1,634) Total Liabilities and Equity $ 78,893 $ 79,745 Statements of Operations Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Room Revenue $ 6,848 $ 1,888 $ 9,495 $ 4,143 Other Revenue 318 125 504 242 Operating Expenses (3,630) (1,244) (6,083) (3,109) Lease Expense (257) (245) (514) (516) Property Taxes and Insurance (572) (382) (1,144) (1,948) General and Administrative (15) (26) (35) (247) Depreciation and Amortization (1,248) (1,300) (2,502) (3,612) Interest Expense (773) (642) (1,442) (3,334) Loss on Dissolution of Joint Venture — — — (112,429) Income Tax (Expense) Benefit (74) 39 51 94 Net Income (Loss) $ 597 $ (1,787) $ (1,670) $ (120,716) 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, 2022 and December 31, 2021. June 30, 2022 December 31, 2021 Our share of equity recorded on the joint ventures' financial statements $ 2,978 $ 3,328 Adjustment to reconcile our share of equity recorded on the joint ventures' financial statements to our investment in unconsolidated joint ventures (1) 2,508 2,252 Investment in Unconsolidated Joint Ventures $ 5,486 $ 5,580 (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 Loss from Unconsolidated Joint Venture Investments on our consolidated statement of operations); and

OTHER ASSETS

OTHER ASSETS	6 Months Ended
	Jun. 30, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
OTHER ASSETS	OTHER ASSETS Other Assets Other Assets consisted of the following at June 30, 2022 and December 31, 2021: June 30, 2022 December 31, 2021 Derivative Asset $ 12,924 $ 92 Deferred Financing Costs 190 1,070 Prepaid Expenses 12,035 11,632 Investment in Statutory Trusts 1,548 1,548 Investment in Non-Hotel Property and Inventories 2,104 2,193 Deposits with Unaffiliated Third Parties 2,676 2,663 Deferred Tax Asset, Net of Valuation Allowance of $19,883 and $21,612, respectively — — Property Insurance Receivable 906 693 Other 3,769 1,868 $ 36,152 $ 21,759 Derivative Asset - This category represents the Company’s gross asset fair value of interest rate swaps and interest rate caps. Any swaps and caps resulting in a liability to the Company are accounted for separately within Other Liabilities on the Balance Sheet. 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.

DEBT

DEBT	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
DEBT	DEBT Mortgages Mortgages payable at June 30, 2022 and December 31, 2021 consisted of the following: June 30, 2022 December 31, 2021 Mortgage Indebtedness $ 230,334 $ 306,078 Net Unamortized Premium 10 13 Net Unamortized Deferred Financing Costs (739) (1,477) Mortgages Payable $ 229,605 $ 304,614 As of June 30, 2022, two mortgages with an aggregate balance of $74,522 were classified as Liabilities Related to Hotel Assets Held for Sale and are included in the Liabilities Related to Hotel Assets Held for Sale section in Note 2 - Investment in Hotel Properties. On August 4, 2022, using the proceeds from the dispositions discussed in Note 2 - Investment in Hotel Properties, we paid off one mortgage balance with a principal balance of $35,000, and anticipate that the remaining mortgage balance of $39,522 will be assumed by the buyer upon disposition of the Courtyard Sunnyvale, which is expected to close in the fourth quarter of 2022, subject to customary closing conditions. 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 3.84% to 5.05% as of June 30, 2022. 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 the Courtyard Sunnyvale mortgage was met as of June 30, 2022. The lender has elected its right to escrow property level cash flow for the purpose of meeting future payment obligations, and as noted above, we anticipate that this mortgage as well as the escrow held by the lender will be assumed by the buyer upon disposition of the Courtyard Sunnyvale, CA. As of June 30, 2022, the maturity dates for the outstanding mortgage loans ranged from December 2022 to September 2025. Credit Facilities As of June 30, 2022, we maintained three secured credit arrangements which aggregate to $747,481 with Citigroup Global Markets Inc., Wells Fargo Bank, Inc. and various other lenders. One credit agreement, as amended, provided for a $442,404 senior secured credit facility (“Prior Credit Facility”). The Prior Credit Facility consists of a $250,000 senior secured revolving line of credit (“Prior Line of Credit”) and a $192,404 senior secured term loan ("Prior First Term Loan"), and was set to expire on August 10, 2022. We maintained another credit agreement, as amended, which provided for a $278,846 senior secured term loan agreement (“Prior Second Term Loan”) and was set to expire on September 10, 2024. A separate credit agreement, as amended, provided for a $26,231 senior secured term loan agreement (“Prior Third Term Loan” and collectively with the Prior Credit Facility and the Prior Second Term Loan, the "Prior Facilities") was set to expire on August 10, 2022. On February 17, 2021, the Company signed amendments to the Prior Facilities which resulted in debt extinguishment expense of $2,977. Debt extinguishment expense consists of $635 of debt extinguishment losses and $2,342 of debt modification losses. The Prior Facilities, as amended, contained financial covenants beginning in the second quarter of 2022: • a fixed charge coverage ratio of not less than 1.20 to 1.00; • a maximum leverage ratio of not more than 65%; and • a financial covenant that requires the borrowing base leverage ratio to not exceed 60% at any time. The amount that we could borrow at any given time under our Prior Line of Credit, and the individual term loans (each a “Prior Term Loan” and together the “Prior Term Loans”) is governed by certain operating metrics of designated hotel properties known as borrowing base assets. As of June 30, 2022, the following hotel properties secured the amended facilities under the Prior Facilities: - Courtyard by Marriott Brookline, Brookline, MA (1) - Hampton Inn, Washington, DC (1) - The Envoy Boston Seaport, Boston, MA - Ritz-Carlton Georgetown, Washington, DC - The Boxer, Boston, MA - Hilton Garden Inn, MStreet, Washington, DC (1) - 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 (1) - Hyatt House White Plains, White Plains, NY - The Ambrose Hotel, Santa Monica, CA - Hampton Inn Center City/Convention Center, Philadelphia, PA (1) - The Pan Pacific Hotel Seattle, Seattle, WA - The Rittenhouse, Philadelphia, PA - Mystic Marriott Hotel & Spa, Groton, CT - Philadelphia Westin, Philadelphia, PA (1) Hotel property sold to an unaffiliated buyer on August 4, 2022. The interest rate for borrowings under the Prior Line of Credit and Prior Term Loans were 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, 2022 December 31, 2021 Prior Line of Credit 1.50% to 2.25% $ 118,684 $ 118,684 Prior Term Loans: Prior First Term Loan 1.45% to 2.20% $ 192,404 $ 192,404 Prior Second Term Loan 1.35% to 2.00% 278,846 278,846 Prior Third Term Loan 1.45% to 2.20% 26,231 26,231 Prior Deferred Loan Costs (954) (1,396) Total Prior Term Loans $ 496,527 $ 496,085 The weighted average interest rate on our credit facilities was 3.52% and 3.92%, 3.53% and 3.73% for the three and six months ended June 30, 2022 and 2021, respectively. On August 4, 2022, we entered into a credit agreement (the "Credit Agreement"), with certain lenders, for whom Citibank, N.A. ("Citibank") acted as the administrative agreement and collateral agent, Wells Fargo Bank, N.A. and Manufacturers and Traders Trust Company acted as the co-syndication agents, and Citibank, Wells Fargo Securities, LLC, and Manufacturers and Traders Trust Company acted as joint lead arrangers and joint book running managers. The Credit Agreement provided for a new secured term loan of $400,000 and secured revolving line of credit with capacity of $100,000 which mature in August of 2024. Immediately upon entering into the Credit Agreement, proceeds from the $400,000 new term loan, along with a portion of the proceeds from the dispositions discussed in Note 2 – Investment in Hotel Properties, were used to pay off and terminate all borrowings under the Prior Facilities. Borrowings under the Credit Agreement bear interest at a rate of Term SOFR plus a 250 basis point spread. Notes Payable Notes payable at June 30, 2022 and December 31, 2021 consisted of the following: June 30, 2022 December 31, 2021 Statutory Trust I and Statutory Trust II Notes Payable Indebtedness $ 51,548 $ 51,548 Net Unamortized Deferred Financing Costs (679) (706) Statutory Trust I and Statutory Trust II Notes Payable 50,869 50,842 Junior Notes Payable Indebtedness 158,094 156,239 Net Unamortized Deferred Financing Costs (3,716) (4,209) Net Unamortized Discount (3,861) (4,382) Junior Notes Payable 150,517 147,648 Total Notes Payable $ 201,386 $ 198,490 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 3.97% and 3.19%, and 3.61% and 3.20% for the three and six months ended June 30, 2022 and 2021, respectively. Junior Notes Payable On February 17, 2021, the Company entered into a note purchase agreement with several purchasers (the “Purchasers”). The Company issued and sold to the Purchasers $150,000 aggregate principal amount of the Company’s 9.50% Unsecured PIK Toggle Notes due 2026 (the “Junior Notes”) on February 23, 2021. The Junior Notes were set to mature on February 23, 2026. The Junior 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 ended on or prior to March 31, 2022, the Issuer, in its sole discretion could 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 Junior 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 periods ended June 30, 2021, September 30, 2021, December 31, 2021, and March 31, 2022, increasing the total principal balance by $8,094 to $158,094 as of June 30, 2022. The Junior Notes were redeemable during the 12 month period beginning February 23, 2022 at a redemption price equal to 104% of the principal amount of the Junior Notes. On August 4, 2022, using a portion of the proceeds from the dispositions discussed in Note 2 - Investment in Hotel Properties, we paid off the Junior Notes, payable at a redemption price of 104%, or $164,418. Interest Expense The table below shows the interest expense incurred by the Company during the six months ended June 30, 2022 and 2021: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Mortgage Loans Payable $ 2,948 $ 2,680 $ 5,477 $ 5,415 Interest Rate Swap Contracts on Mortgages 358 627 923 1,230 Unsecured Notes Payable 4,589 4,311 8,995 6,248 Credit Facility and Term Loans 4,507 3,754 8,157 8,122 Interest Rate Swap Contracts on Prior Facilities 971 2,417 2,793 4,841 Deferred Financing Costs Amortization 1,235 1,088 2,426 2,380 Other 161 105 235 175 Total Interest Expense $ 14,769 $ 14,982 $ 29,006 $ 28,411

LEASES

LEASES	6 Months Ended
	Jun. 30, 2022
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. Lease costs for our office spaces are included in General and Administrative expense. The components of lease costs for the three months ended June 30, 2022 and 2021 were as follows: Three Months Ended June 30, 2022 Three Months Ended June 30, 2021 Ground Lease Office Lease Total Ground Lease Office Lease Total Operating lease costs $ 1,050 $ 153 $ 1,203 $ 1,050 $ 121 $ 1,171 Variable lease costs 481 87 568 14 83 97 Total lease costs $ 1,531 $ 240 $ 1,771 $ 1,064 $ 204 $ 1,268 The components of lease costs for the six months ended June 30, 2022 and 2021 were as follows: Six months ended June 30, 2022 Six months ended June 30, 2021 Ground Lease Office Lease Total Ground Lease Office Lease Total Operating lease costs $ 2,101 $ 242 $ 2,343 $ 2,126 $ 242 $ 2,368 Variable lease costs 520 156 676 38 167 205 Total lease costs $ 2,621 $ 398 $ 3,019 $ 2,164 $ 409 $ 2,573 Other information related to leases as of and for the six months ended June 30, 2022 and 2021 is as follows: June 30, 2022 June 30, 2021 Cash paid from operating cash flow for operating leases $ 2,758 $ 2,246 Weighted average remaining lease term (in years) 63.5 64.2 Weighted average discount rate 7.86 % 7.87 %
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. Lease costs for our office spaces are included in General and Administrative expense. The components of lease costs for the three months ended June 30, 2022 and 2021 were as follows: Three Months Ended June 30, 2022 Three Months Ended June 30, 2021 Ground Lease Office Lease Total Ground Lease Office Lease Total Operating lease costs $ 1,050 $ 153 $ 1,203 $ 1,050 $ 121 $ 1,171 Variable lease costs 481 87 568 14 83 97 Total lease costs $ 1,531 $ 240 $ 1,771 $ 1,064 $ 204 $ 1,268 The components of lease costs for the six months ended June 30, 2022 and 2021 were as follows: Six months ended June 30, 2022 Six months ended June 30, 2021 Ground Lease Office Lease Total Ground Lease Office Lease Total Operating lease costs $ 2,101 $ 242 $ 2,343 $ 2,126 $ 242 $ 2,368 Variable lease costs 520 156 676 38 167 205 Total lease costs $ 2,621 $ 398 $ 3,019 $ 2,164 $ 409 $ 2,573 Other information related to leases as of and for the six months ended June 30, 2022 and 2021 is as follows: June 30, 2022 June 30, 2021 Cash paid from operating cash flow for operating leases $ 2,758 $ 2,246 Weighted average remaining lease term (in years) 63.5 64.2 Weighted average discount rate 7.86 % 7.87 %

COMMITMENTS AND CONTINGENCIES A

COMMITMENTS AND CONTINGENCIES AND RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2022
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. Certain executives and trustees of the Company own a minority interest in HHMLP. 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, 2022 and 2021, base management fees incurred to HHMLP totaled $3,145 and $1,745, and $5,143 and $2,925, respectively, and are recorded as Hotel Operating Expenses. For the three and six months ended June 30, 2022 and 2021, we did not incur incentive management fees. Franchise Agreements Our branded hotel properties that are not managed by the brand 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, advertising services and certain other charges, and such payments are primarily 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, 2022 and 2021 were $5,362 and $2,465, and $8,413 and $4,287, 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, Revenue Management 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, 2022 and 2021, the Company incurred accounting fees of $277 and $277, and $555 and $590, respectively. For the three and six months ended June 30, 2022 and 2021, the Company incurred information technology fees of $90 and $90, and $177 and $191, respectively. For the three and six months ended June 30, 2022 and 2021, the Company incurred revenue management service fees of $574 and $399, and $1,149 and $837, respectively. Accounting fees, revenue management fees and information technology fees are included in Hotel Operating Expenses under Other. Capital Expenditure Fees HHMLP charges fees between 3% and 5% 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, 2022 and 2021, we incurred fees of $170 and $78, and $294 and $197, 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 We purchase certain hotel supplies and make certain capital expenditures from Hersha Purchasing and Design (HPD), a hotel supply company owned, in part, by certain executives and trustees of the Company. For the three and six months ended June 30, 2022 and 2021, we incurred charges for hotel supplies of $0 and $0, and $0 and $1, respectively, for hotel supplies purchased from HPD. For the three and six months ended June 30, 2022 and 2021, we incurred charges of $3,652 and $86, and $4,541 and $220, respectively, for capital expenditure purchases from HPD. 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 The Company utilizes the services of HHMLP to provide risk management services to the Company related to the placement of property and casualty insurance, placement of general liability insurance and claims handling for our hotel properties. The fees incurred for these risk management services for the three and six months ended June 30, 2022 and 2021 were $30 and $56, and $59 and $113, respectively. Restaurant Lease Agreements with Independent Restaurant Group The Company has entered into management agreements with Independent Restaurant Group (“IRG”), subject to the supervision of HHMLP, as property manager, for restaurants at two 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. For the three and six months ended June 30, 2022 and 2021, management fees incurred to IRG totaled $68 and $35, and $111 and $48, respectively. Due From Related Parties The due from related parties balance as of June 30, 2022 and December 31, 2021 was approximately $534 and $2,495, 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

FAIR VALUE MEASUREMENTS AND DER

FAIR VALUE MEASUREMENTS AND DERIVATIVE INSTRUMENTS	6 Months Ended
	Jun. 30, 2022
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, 2022, 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, 2022 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, 2022 and December 31, 2021. Estimated Fair Value (Liability) Asset Balance Hedged Debt Type Strike Rate Index Effective Date Derivative Contract Maturity Date Notional Amount June 30, 2022 December 31, 2021 Term Loan Instruments: Credit Facility Swap 1.824 % 1-Month LIBOR + 2.20% September 3, 2019 August 10, 2022 103,500 $ (12) $ (970) Credit Facility Swap 1.824 % 1-Month LIBOR + 2.20% September 3, 2019 August 10, 2022 103,500 (12) (970) Credit Facility Swap 1.460 % 1-Month LIBOR + 2.00% September 10, 2019 September 10, 2024 300,000 10,225 (3,729) Mortgages: Hyatt, Union Square, New York, NY Swap 1.870 % 1-Month LIBOR + 2.30% June 7, 2019 June 7, 2023 56,000 637 (987) Hilton Garden Inn Tribeca, New York, NY Swap 1.768 % 1-Month LIBOR + 2.25% July 25, 2019 July 25, 2024 22,725 605 (460) Hilton Garden Inn Tribeca, New York, NY Swap 1.768 % 1-Month LIBOR + 2.25% July 25, 2019 July 25, 2024 22,725 604 (460) Hilton Garden Inn 52nd Street, New York, NY Swap 1.540 % 1-Month LIBOR + 2.30% December 4, 2019 December 4, 2022 44,325 194 (458) Courtyard, LA Westside, Culver City, CA Cap 2.500 % 1-Month LIBOR August 1, 2021 August 1, 2024 35,000 659 92 $ 12,900 $ (7,942) The fair value of the interest rate swaps and cap with an asset balance are included in Other Assets and the fair value of the interest rate swaps with a liability balance are included in Accounts Payable, Accrued Expenses and Other Liabilities at June 30, 2022 and December 31, 2021. The net change related to derivative instruments designated as cash flow hedges recognized as unrealized gains reflected on our consolidated balance sheet in accumulated other comprehensive income was a gain of $5,353 and $2,398, and $20,842 and $9,163 for the three and six months ended June 30, 2022 and 2021, respectively. Amounts reported in accumulated other comprehensive income related to derivatives will be reclassified to interest expense as interest payments are made and received on the Company’s variable-rate derivatives. The change in net unrealized gains/losses on cash flow hedges reflects a reclassification of $0 and $(141), and $0 and $159 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, 2022 and 2021, respectively. For the next twelve months ending June 30, 2023, we estimate that an additional $6,521 will be reclassified as a decrease 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, 2022, the carrying value and estimated fair value of our debt was $1,120,364 and $1,147,112 respectively. As of December 31, 2021, the carrying value and estimated fair value of our debt was $1,117,873 and $1,146,699, respectively.

SHARE BASED PAYMENTS

SHARE BASED PAYMENTS	6 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
SHARE BASED PAYMENTS	SHARE BASED PAYMENTS Our shareholders approved the Hersha Hospitality Trust 2012 Equity Incentive Plan, as amended, for the purpose of attracting and retaining executive officers, employees, trustees and other persons and entities that provide services to the Company. On May 26, 2022, the Compensation Committee approved the 2022 LTIP in which 60% 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) and the remaining 40% of the awards provide for time based vesting. On May 26, 2022, the Compensation Committee awarded 194,427 LTIP Units related to the time based portion of the plan. These Units will vest over a three The 60% market-based portion of the 2022 LTIP has a three-year performance period which commenced on January 1, 2022 and ends December 31, 2024. As of June 30, 2022, no shares or LTIP Units have been issued to the executive officers in settlement of 2022 LTIP market-based awards. A summary of our share based compensation activity from January 1, 2022 to June 30, 2022 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, 2021 1,658,995 $ 10.73 170,740 $ 10.52 — Granted 194,427 11.25 67,804 11.25 71,832 10.57 Vested — N/A (125,544) 10.82 (71,832) 10.57 Unvested Balance as of June 30, 2022 1,853,422 $ 10.78 113,000 $ 10.62 — The following table summarizes share based compensation expense for the three and six months ended June 30, 2022 and 2021 and unearned compensation as of June 30, 2022 and December 31, 2021: Share Based Unearned For the Three Months Ended For the Six Months Ended As of June 30, 2022 June 30, 2021 June 30, 2022 June 30, 2021 June 30, 2022 December 31, 2021 Issued Awards LTIP Unit Awards $ 2,142 $ 1,534 $ 3,919 $ 3,258 $ 9,613 $ 11,344 Restricted Share Awards 346 254 538 422 1,049 834 Share Awards 478 367 764 367 — — Unissued Awards Market Based 333 434 619 711 3,657 2,230 Total $ 3,299 $ 2,589 $ 5,840 $ 4,758 $ 14,319 $ 14,408 The weighted-average period of which the unrecognized compensation expense will be recorded is approximately 1.0 year for LTIP Unit Awards and 1.0 year for Restricted Share Awards. The remaining unvested target units are expected to vest as follows: 2022 2023 2024 2025 LTIP Unit Awards 680,854 1,107,757 64,811 — Restricted Share Awards — 99,998 10,002 3,000 680,854 1,207,755 74,813 3,000

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Jun. 30, 2022
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, 2022 2021 2022 2021 NUMERATOR: Basic and Diluted* Net income (loss) $ 9,212 $ (23,523) $ (7,754) $ (14,433) (Income) Loss allocated to Noncontrolling Interests (1,070) 977 (619) 813 Distributions to Preferred Shareholders (6,043) (6,044) (12,087) (12,087) Net income (loss) applicable to Common Shareholders $ 2,099 $ (28,590) $ (20,460) $ (25,707) DENOMINATOR: Weighted average number of common shares - basic 39,277,269 39,097,820 39,254,536 39,034,707 Effect of dilutive securities: Restricted Stock Awards and LTIP Units (unvested) 853,136 — — — Contingently Issued Shares and Units 323,380 — — — Weighted average number of common shares - diluted 40,453,785 39,097,820 39,254,536 39,034,707 * (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, 2022
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, 2022 and 2021 totaled $19,976 and $20,052, respectively. Net cash paid on Interest Rate Derivative contracts during the six months ended June 30, 2022 and 2021 totaled $4,333 and $6,259, respectively. Cash paid for income taxes during the six months ended June 30, 2022 and 2021 totaled $1,085 and $60, respectively. The following non-cash investing and financing activities occurred during the six months ended June 30, 2022 and 2021: 2022 2021 Issuance of share based payments $ 5,171 $ 13,103 Accrued payables for capital expenditures placed into service 433 230 Adjustment to Record Noncontrolling Interest at Redemption Value 2,964 1,968 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, 2022 and 2021: 2022 2021 Cash and cash equivalents $ 87,918 $ 69,083 Escrowed cash 12,764 11,067 Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows $ 100,682 $ 80,150

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	6 Months Ended
	Jun. 30, 2022
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, 2022 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, 2021.
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. 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, 2022, 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.
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 modifications for our other remaining contracts, 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. Some debt contract modifications will occur in the normal course of business and will include other changes in the terms, for which we do not anticipate that this accounting relief will be applicable. However, we anticipate that other debt contract modifications will occur prior to the phase out of LIBOR on June 30, 2023 specifically to address the LIBOR transition, for which we will be able to apply the accounting relief.

BASIS OF PRESENTATION (Tables)

BASIS OF PRESENTATION (Tables)	6 Months Ended
	Jun. 30, 2022
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, 2022 and December 31, 2021 are summarized as follows: Dividend Per Share (1) Shares Outstanding Six Months Ended June 30, Series June 30, 2022 December 31, 2021 Aggregate Liquidation Preference Distribution Rate 2022 2021 Series C 3,000,000 3,000,000 $ 75,000 6.875 % $ 0.8594 $ 2.5782 Series D 7,701,700 7,701,700 $ 192,500 6.500 % $ 0.8126 $ 2.4378 Series E 4,001,514 4,001,514 $ 100,000 6.500 % $ 0.8126 $ 2.4378 Total 14,703,214 14,703,214

INVESTMENT IN HOTEL PROPERTIES

INVESTMENT IN HOTEL PROPERTIES (Tables)	6 Months Ended
	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
Schedule of investment in hotel properties	Investment in hotel properties consists of the following at June 30, 2022 and December 31, 2021: June 30, 2022 December 31, 2021 Land $ 403,611 $ 478,412 Buildings and Improvements 1,240,265 1,560,768 Furniture, Fixtures and Equipment 219,901 274,802 Construction in Progress 4,897 1,784 1,868,674 2,315,766 Less Accumulated Depreciation (533,195) (650,669) Total Investment in Hotel Properties * $ 1,335,479 $ 1,665,097 * The net book value of investment in hotel property at Ritz Coconut Grove, which is a variable interest entity, is $38,256 and $39,577 at June 30, 2022 and December 31, 2021, respectively.
Schedule of real estate assets sold	For the six months ended June 30, 2022, 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 $ 5,032 The Capitol Hill Hotel Washington, DC 04/15/2011 03/09/2021 51,000 12,975 Holiday Inn Express Cambridge, MA 05/03/2006 03/09/2021 32,000 20,280 Residence Inn Miami Coconut Grove, FL 06/12/2013 03/10/2021 31,000 9,996 2021 Total $ 48,283
Summary of assets held-for-sale	The table below shows the balances for the seven properties noted above that were classified as held for sale as of June 30, 2022: June 30, 2022 Land $ 74,801 Right of Use Asset - Land Lease 12,705 Buildings and Improvements 325,566 Furniture, Fixtures and Equipment 59,096 472,168 Less Accumulated Depreciation (153,452) Assets Held for Sale $ 318,716 Liabilities related to hotel assets held for sale at June 30, 2022 and December 31, 2021 consisted of the following: June 30, 2022 December 31, 2021 Mortgage Indebtedness $ 74,522 $ — Net Unamortized Deferred Financing Costs (359) — Lease Liabilities 5,624 — Liabilities Related to Hotel Assets Held for Sale $ 79,787 $ —

INVESTMENT IN UNCONSOLIDATED _2

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Tables)	6 Months Ended
	Jun. 30, 2022
Equity Method Investments and Joint Ventures [Abstract]
Schedule of investment in unconsolidated joint ventures	As of June 30, 2022 and December 31, 2021, our investment in unconsolidated joint ventures consisted of the following: Joint Venture Hotel Properties Percent Owned June 30, 2022 December 31, 2021 Hiren Boston, LLC Courtyard by Marriott, South Boston, MA 50 % 407 189 SB Partners, LLC Holiday Inn Express, South Boston, MA 50 % — — SB Partners Three, LLC Home2 Suites, South Boston, MA 50 % 5,079 5,391 $ 5,486 $ 5,580
Schedule of income or loss from unconsolidated joint ventures	oss) recognized during the three and six months ended June 30, 2022 and 2021, for our investments in unconsolidated joint ventures is as follows: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Hiren Boston, LLC $ 301 $ (354) 42 (689) SB Partners, LLC — (50) (310) (50) SB Partners Three, LLC 56 (185) (311) (508) Income (Loss) from Unconsolidated Joint Venture Investments $ 357 $ (589) $ (579) $ (1,247)
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, 2022 and December 31, 2021 and for the three and six months ended June 30, 2022 and 2021. Balance Sheets June 30, 2022 December 31, 2021 Assets Investment in Hotel Properties, Net $ 61,627 $ 64,096 Other Assets 17,266 15,649 Total Assets $ 78,893 $ 79,745 Liabilities and Equity Mortgages $ 65,461 $ 65,723 Other Liabilities 15,892 15,656 Equity: Hersha Hospitality Trust 2,978 3,328 Joint Venture Partner(s) (5,438) (4,962) Total Equity (2,460) (1,634) Total Liabilities and Equity $ 78,893 $ 79,745 Statements of Operations Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Room Revenue $ 6,848 $ 1,888 $ 9,495 $ 4,143 Other Revenue 318 125 504 242 Operating Expenses (3,630) (1,244) (6,083) (3,109) Lease Expense (257) (245) (514) (516) Property Taxes and Insurance (572) (382) (1,144) (1,948) General and Administrative (15) (26) (35) (247) Depreciation and Amortization (1,248) (1,300) (2,502) (3,612) Interest Expense (773) (642) (1,442) (3,334) Loss on Dissolution of Joint Venture — — — (112,429) Income Tax (Expense) Benefit (74) 39 51 94 Net Income (Loss) $ 597 $ (1,787) $ (1,670) $ (120,716)
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, 2022 and December 31, 2021. June 30, 2022 December 31, 2021 Our share of equity recorded on the joint ventures' financial statements $ 2,978 $ 3,328 Adjustment to reconcile our share of equity recorded on the joint ventures' financial statements to our investment in unconsolidated joint ventures (1) 2,508 2,252 Investment in Unconsolidated Joint Ventures $ 5,486 $ 5,580 (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 Loss from Unconsolidated Joint Venture Investments on our consolidated statement of operations); and

OTHER ASSETS (Tables)

OTHER ASSETS (Tables)	6 Months Ended
	Jun. 30, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of other assets	Other Assets consisted of the following at June 30, 2022 and December 31, 2021: June 30, 2022 December 31, 2021 Derivative Asset $ 12,924 $ 92 Deferred Financing Costs 190 1,070 Prepaid Expenses 12,035 11,632 Investment in Statutory Trusts 1,548 1,548 Investment in Non-Hotel Property and Inventories 2,104 2,193 Deposits with Unaffiliated Third Parties 2,676 2,663 Deferred Tax Asset, Net of Valuation Allowance of $19,883 and $21,612, respectively — — Property Insurance Receivable 906 693 Other 3,769 1,868 $ 36,152 $ 21,759

DEBT (Tables)

DEBT (Tables)	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Schedule of mortgages payable and interest expense	Mortgages payable at June 30, 2022 and December 31, 2021 consisted of the following: June 30, 2022 December 31, 2021 Mortgage Indebtedness $ 230,334 $ 306,078 Net Unamortized Premium 10 13 Net Unamortized Deferred Financing Costs (739) (1,477) Mortgages Payable $ 229,605 $ 304,614 Notes payable at June 30, 2022 and December 31, 2021 consisted of the following: June 30, 2022 December 31, 2021 Statutory Trust I and Statutory Trust II Notes Payable Indebtedness $ 51,548 $ 51,548 Net Unamortized Deferred Financing Costs (679) (706) Statutory Trust I and Statutory Trust II Notes Payable 50,869 50,842 Junior Notes Payable Indebtedness 158,094 156,239 Net Unamortized Deferred Financing Costs (3,716) (4,209) Net Unamortized Discount (3,861) (4,382) Junior Notes Payable 150,517 147,648 Total Notes Payable $ 201,386 $ 198,490 The table below shows the interest expense incurred by the Company during the six months ended June 30, 2022 and 2021: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Mortgage Loans Payable $ 2,948 $ 2,680 $ 5,477 $ 5,415 Interest Rate Swap Contracts on Mortgages 358 627 923 1,230 Unsecured Notes Payable 4,589 4,311 8,995 6,248 Credit Facility and Term Loans 4,507 3,754 8,157 8,122 Interest Rate Swap Contracts on Prior Facilities 971 2,417 2,793 4,841 Deferred Financing Costs Amortization 1,235 1,088 2,426 2,380 Other 161 105 235 175 Total Interest Expense $ 14,769 $ 14,982 $ 29,006 $ 28,411
Summary of borrowing base assets	As of June 30, 2022, the following hotel properties secured the amended facilities under the Prior Facilities: - Courtyard by Marriott Brookline, Brookline, MA (1) - Hampton Inn, Washington, DC (1) - The Envoy Boston Seaport, Boston, MA - Ritz-Carlton Georgetown, Washington, DC - The Boxer, Boston, MA - Hilton Garden Inn, MStreet, Washington, DC (1) - 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 (1) - Hyatt House White Plains, White Plains, NY - The Ambrose Hotel, Santa Monica, CA - Hampton Inn Center City/Convention Center, Philadelphia, PA (1) - The Pan Pacific Hotel Seattle, Seattle, WA - The Rittenhouse, Philadelphia, PA - Mystic Marriott Hotel & Spa, Groton, CT - Philadelphia Westin, Philadelphia, PA
Schedule of Line of Credit Facilities	The following table summarizes the balances outstanding and interest rate spread for each borrowing: Outstanding Balance Borrowing Spread June 30, 2022 December 31, 2021 Prior Line of Credit 1.50% to 2.25% $ 118,684 $ 118,684 Prior Term Loans: Prior First Term Loan 1.45% to 2.20% $ 192,404 $ 192,404 Prior Second Term Loan 1.35% to 2.00% 278,846 278,846 Prior Third Term Loan 1.45% to 2.20% 26,231 26,231 Prior Deferred Loan Costs (954) (1,396) Total Prior Term Loans $ 496,527 $ 496,085

LEASES (Tables)

LEASES (Tables)	6 Months Ended
	Jun. 30, 2022
Leases [Abstract]
Schedule of components of lease costs	The components of lease costs for the three months ended June 30, 2022 and 2021 were as follows: Three Months Ended June 30, 2022 Three Months Ended June 30, 2021 Ground Lease Office Lease Total Ground Lease Office Lease Total Operating lease costs $ 1,050 $ 153 $ 1,203 $ 1,050 $ 121 $ 1,171 Variable lease costs 481 87 568 14 83 97 Total lease costs $ 1,531 $ 240 $ 1,771 $ 1,064 $ 204 $ 1,268 The components of lease costs for the six months ended June 30, 2022 and 2021 were as follows: Six months ended June 30, 2022 Six months ended June 30, 2021 Ground Lease Office Lease Total Ground Lease Office Lease Total Operating lease costs $ 2,101 $ 242 $ 2,343 $ 2,126 $ 242 $ 2,368 Variable lease costs 520 156 676 38 167 205 Total lease costs $ 2,621 $ 398 $ 3,019 $ 2,164 $ 409 $ 2,573 Other information related to leases as of and for the six months ended June 30, 2022 and 2021 is as follows: June 30, 2022 June 30, 2021 Cash paid from operating cash flow for operating leases $ 2,758 $ 2,246 Weighted average remaining lease term (in years) 63.5 64.2 Weighted average discount rate 7.86 % 7.87 %

FAIR VALUE MEASUREMENTS AND D_2

FAIR VALUE MEASUREMENTS AND DERIVATIVE INSTRUMENTS (Tables)	6 Months Ended
	Jun. 30, 2022
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, 2022 and December 31, 2021. Estimated Fair Value (Liability) Asset Balance Hedged Debt Type Strike Rate Index Effective Date Derivative Contract Maturity Date Notional Amount June 30, 2022 December 31, 2021 Term Loan Instruments: Credit Facility Swap 1.824 % 1-Month LIBOR + 2.20% September 3, 2019 August 10, 2022 103,500 $ (12) $ (970) Credit Facility Swap 1.824 % 1-Month LIBOR + 2.20% September 3, 2019 August 10, 2022 103,500 (12) (970) Credit Facility Swap 1.460 % 1-Month LIBOR + 2.00% September 10, 2019 September 10, 2024 300,000 10,225 (3,729) Mortgages: Hyatt, Union Square, New York, NY Swap 1.870 % 1-Month LIBOR + 2.30% June 7, 2019 June 7, 2023 56,000 637 (987) Hilton Garden Inn Tribeca, New York, NY Swap 1.768 % 1-Month LIBOR + 2.25% July 25, 2019 July 25, 2024 22,725 605 (460) Hilton Garden Inn Tribeca, New York, NY Swap 1.768 % 1-Month LIBOR + 2.25% July 25, 2019 July 25, 2024 22,725 604 (460) Hilton Garden Inn 52nd Street, New York, NY Swap 1.540 % 1-Month LIBOR + 2.30% December 4, 2019 December 4, 2022 44,325 194 (458) Courtyard, LA Westside, Culver City, CA Cap 2.500 % 1-Month LIBOR August 1, 2021 August 1, 2024 35,000 659 92 $ 12,900 $ (7,942)

SHARE BASED PAYMENTS (Tables)

SHARE BASED PAYMENTS (Tables)	6 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
Summary of unvested share awards issued to executives	A summary of our share based compensation activity from January 1, 2022 to June 30, 2022 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, 2021 1,658,995 $ 10.73 170,740 $ 10.52 — Granted 194,427 11.25 67,804 11.25 71,832 10.57 Vested — N/A (125,544) 10.82 (71,832) 10.57 Unvested Balance as of June 30, 2022 1,853,422 $ 10.78 113,000 $ 10.62 —
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, 2022 and 2021 and unearned compensation as of June 30, 2022 and December 31, 2021: Share Based Unearned For the Three Months Ended For the Six Months Ended As of June 30, 2022 June 30, 2021 June 30, 2022 June 30, 2021 June 30, 2022 December 31, 2021 Issued Awards LTIP Unit Awards $ 2,142 $ 1,534 $ 3,919 $ 3,258 $ 9,613 $ 11,344 Restricted Share Awards 346 254 538 422 1,049 834 Share Awards 478 367 764 367 — — Unissued Awards Market Based 333 434 619 711 3,657 2,230 Total $ 3,299 $ 2,589 $ 5,840 $ 4,758 $ 14,319 $ 14,408
Disclosure of share-based compensation arrangements by share-based payment award	The remaining unvested target units are expected to vest as follows: 2022 2023 2024 2025 LTIP Unit Awards 680,854 1,107,757 64,811 — Restricted Share Awards — 99,998 10,002 3,000 680,854 1,207,755 74,813 3,000

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Schedule of 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, 2022 2021 2022 2021 NUMERATOR: Basic and Diluted* Net income (loss) $ 9,212 $ (23,523) $ (7,754) $ (14,433) (Income) Loss allocated to Noncontrolling Interests (1,070) 977 (619) 813 Distributions to Preferred Shareholders (6,043) (6,044) (12,087) (12,087) Net income (loss) applicable to Common Shareholders $ 2,099 $ (28,590) $ (20,460) $ (25,707) DENOMINATOR: Weighted average number of common shares - basic 39,277,269 39,097,820 39,254,536 39,034,707 Effect of dilutive securities: Restricted Stock Awards and LTIP Units (unvested) 853,136 — — — Contingently Issued Shares and Units 323,380 — — — Weighted average number of common shares - diluted 40,453,785 39,097,820 39,254,536 39,034,707 * (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, 2022
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, 2022 and 2021: 2022 2021 Issuance of share based payments $ 5,171 $ 13,103 Accrued payables for capital expenditures placed into service 433 230 Adjustment to Record Noncontrolling Interest at Redemption Value 2,964 1,968
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, 2022 and 2021: 2022 2021 Cash and cash equivalents $ 87,918 $ 69,083 Escrowed cash 12,764 11,067 Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows $ 100,682 $ 80,150
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, 2022 and 2021: 2022 2021 Cash and cash equivalents $ 87,918 $ 69,083 Escrowed cash 12,764 11,067 Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows $ 100,682 $ 80,150

BASIS OF PRESENTATION (Narrativ

BASIS OF PRESENTATION (Narrative) (Details)		3 Months Ended		6 Months Ended
	Aug. 04, 2022 USD ($) property	Jun. 30, 2022 USD ($) property shares	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($) property shares	Jun. 30, 2021 USD ($)	Aug. 03, 2022 property	Apr. 27, 2022 property	Mar. 31, 2022 USD ($)	Dec. 31, 2021 USD ($) property	Feb. 17, 2021 USD ($)
Class of Stock
Share conversion ratio (shares) | shares		1		1
Adjustments to additional paid in capital		$ (1,154,367,000)		$ (1,154,367,000)					$ (1,155,034,000)
Noncontrolling interest		5,274,000		5,274,000					$ 2,310,000
Adjustment to record redemption value		691,000	$ 1,968,000		$ 1,968,000
Proceeds from disposition of hotel properties				0	$ 163,583,000
Interest Rate Swap | Credit Facility September 10, 2019
Class of Stock
Derivative, notional amount		$ 300,000,000		$ 300,000,000
Assets Held-for-sale
Class of Stock
Number of real estate properties (property) | property		7		7			7		0
Maximum | Buildings and Improvements
Class of Stock
Useful life of buildings and improvements (in years)				40 years
Maximum | Furniture, Fixtures and Equipment
Class of Stock
Useful life of buildings and improvements (in years)				7 years
Minimum | Furniture, Fixtures and Equipment
Class of Stock
Useful life of buildings and improvements (in years)				2 years
Payment in Kind (PIK) Note
Class of Stock
Debt instrument, face amount		$ 158,094,000		$ 158,094,000				$ 158,094,000		$ 150,000,000
Subsequent Event | Assets Held-for-sale
Class of Stock
Number of real estate properties (property) | property						7
Subsequent Event | Courtyard Brookline, MA, The Hampton Inn Washington, DC, Hilton Garden Inn M Street, DC, Hampton Inn - Philadelphia, PA, TownePlace Suites Sunnyvale, CA And The Courtyard Los Angeles Westside, CA
Class of Stock
Number of real estate properties (property) | property	6
Proceeds from disposition of hotel properties	$ 435,900,000
Subsequent Event | Payment in Kind (PIK) Note
Class of Stock
Redemption percentage	104%
Repayments of notes payable	$ 164,418,000
Subsequent Event | Loans Payable | $250 Million Term Loan (First Term Loan)
Class of Stock
Debt instrument, face amount	400,000,000
Subsequent Event | Revolving Line Of Credit | $250 Million Senior Revolving Line Of Credit (Line of Credit)
Class of Stock
Line of credit facility, maximum borrowing capacity	$ 100,000,000
Adjustment
Class of Stock
Adjustments to additional paid in capital		2,964,000		2,964,000
Noncontrolling interest		2,964,000		$ 2,964,000
Senior Common Equity Interest
Class of Stock
Noncontrolling interest, common equity interest, return				12%
Common Shares | Noncontrolling Interests Common Units And LTIP Units
Class of Stock
Noncontrolling Interest in Limited Partnerships		$ 54,536,000		$ 54,536,000					$ 50,922,000
Nonredeemable common units outstanding (in shares) | shares		7,070,680		7,070,680
Fair market value of nonredeemable common units		$ 69,363,000		$ 69,363,000
Hersha Hospitality Limited Partnership
Class of Stock
Various subsidiary limited partnership interest (percent)				85%
Hersha Hospitality, LLC
Class of Stock
General partnership interest (percent)				1%
Consolidated Joint Ventures
Class of Stock
Noncontrolling interest, ownership percentage		15%		15%
Cumulative return on common equity interest (percent)		30%		30%
Consolidated Joint Ventures | Senior Common Equity Interest
Class of Stock
Cumulative return on common equity interest (percent)		25%		25%
Consolidated Joint Ventures | Junior Common Equity Interest
Class of Stock
Noncontrolling interest, common equity interest, return				8%
Hersha Holding RC Owner, LLC
Class of Stock
Cumulative return on common equity interest (percent)		70%		70%
Hersha Holding RC Owner, LLC | Senior Common Equity Interest
Class of Stock
Noncontrolling interest, common equity interest, return				8%
Cumulative return on common equity interest (percent)		75%		75%

BASIS OF PRESENTATION (Schedule

BASIS OF PRESENTATION (Schedule Of Preferred Stock) (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Class of Stock
Shares outstanding (in shares)	14,703,214		14,703,214
Series C
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)	$ 0.8594	$ 2.5782
Series D
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)	$ 0.8126	2.4378
Series E
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)	$ 0.8126	$ 2.4378

INVESTMENT IN HOTEL PROPERTIE_2

INVESTMENT IN HOTEL PROPERTIES (Investment In Hotel Properties) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Property, Plant and Equipment
Total investment in hotel properties, gross	$ 1,868,674	$ 2,315,766
Less Accumulated Depreciation	(533,195)	(650,669)
Total Investment in Hotel Properties	1,335,479	1,665,097
Variable Interest Entity, Primary Beneficiary | Ritz Coconut Grove
Property, Plant and Equipment
Total Investment in Hotel Properties	38,256	39,577
Land
Property, Plant and Equipment
Total investment in hotel properties, gross	403,611	478,412
Buildings and Improvements
Property, Plant and Equipment
Total investment in hotel properties, gross	1,240,265	1,560,768
Furniture, Fixtures and Equipment
Property, Plant and Equipment
Total investment in hotel properties, gross	219,901	274,802
Construction in Progress
Property, Plant and Equipment
Total investment in hotel properties, gross	$ 4,897	$ 1,784

INVESTMENT IN HOTEL PROPERTIE_3

INVESTMENT IN HOTEL PROPERTIES (Narrative) (Details) $ in Thousands			6 Months Ended
	Aug. 04, 2022 USD ($)	Apr. 27, 2022 USD ($) property	Jun. 30, 2022 USD ($) property	Jun. 30, 2021 USD ($) property	Aug. 03, 2022 property	Dec. 31, 2021 property
Business Acquisition
Number of real estate properties acquired (property) | property			0	0
Proceeds from disposition of hotel properties | $			$ 0	$ 163,583
Payment in Kind (PIK) Note | Subsequent Event
Business Acquisition
Redemption percentage	104%
Repayments of notes payable | $	$ 164,418
Debt Instrument, Redemption, Period One | Payment in Kind (PIK) Note | Subsequent Event
Business Acquisition
Redemption percentage	104%
Scenario, Plan
Business Acquisition
Proceeds from disposition of hotel properties | $		$ 505,000
Assets Held-for-sale
Business Acquisition
Number of real estate properties (property) | property		7	7			0
Assets Held-for-sale | Subsequent Event
Business Acquisition
Number of real estate properties (property) | property					7

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, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Property, Plant and Equipment
Gain on Disposition	$ 0	$ 0	$ 0	$ 48,352
Disposed of by Sale
Property, Plant and Equipment
Gain on Disposition			48,283
Courtyard San Diego, CA | Disposed of by Sale
Property, Plant and Equipment
Consideration			64,500
Gain on Disposition			5,032
The Capitol Hill Hotel Washington, DC | Disposed of by Sale
Property, Plant and Equipment
Consideration			51,000
Gain on Disposition			12,975
Holiday Inn Express Cambridge, MA | Disposed of by Sale
Property, Plant and Equipment
Consideration			32,000
Gain on Disposition			20,280
Residence Inn Miami Coconut Grove, FL | Disposed of by Sale
Property, Plant and Equipment
Consideration			31,000
Gain on Disposition			$ 9,996

INVESTMENT IN HOTEL PROPERTIE_5

INVESTMENT IN HOTEL PROPERTIES (Assets Held For Sale) (Details) - Assets Held-for-sale $ in Thousands	Jun. 30, 2022 USD ($) property	Apr. 27, 2022 property	Dec. 31, 2021 property
Long Lived Assets Held-for-sale
Assets held for sale, gross	$ 472,168
Less Accumulated Depreciation	(153,452)
Assets Held for Sale	$ 318,716
Number of real estate properties (property) | property	7	7	0
Land
Long Lived Assets Held-for-sale
Assets held for sale, gross	$ 74,801
Right of Use Asset - Land Lease
Long Lived Assets Held-for-sale
Assets held for sale, gross	12,705
Buildings and Improvements
Long Lived Assets Held-for-sale
Assets held for sale, gross	325,566
Furniture, Fixtures and Equipment
Long Lived Assets Held-for-sale
Assets held for sale, gross	$ 59,096

INVESTMENT IN HOTEL PROPERTIE_6

INVESTMENT IN HOTEL PROPERTIES (Liabilities Related to Assets Held for sale) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Long Lived Assets Held-for-sale
Liabilities Related to Hotel Assets Held for Sale	$ 79,787	$ 0
Assets Held-for-sale
Long Lived Assets Held-for-sale
Mortgage Indebtedness	74,522	0
Prior Deferred Loan Costs	(359)	0
Lease Liabilities	5,624	0
Liabilities Related to Hotel Assets Held for Sale	$ 79,787	$ 0

INVESTMENT IN UNCONSOLIDATED _3

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Investment In Unconsolidated Joint Ventures) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Investments in Unconsolidated Joint Ventures
Investment in Unconsolidated Joint Ventures	$ 5,486	$ 5,580
Courtyard by Marriott, South Boston, MA | Hiren Boston, LLC
Investments in Unconsolidated Joint Ventures
Percent owned (percentage)	50%
Investment in Unconsolidated Joint Ventures	$ 407	189
Holiday Inn Express, South Boston, MA | SB Partners, LLC
Investments in Unconsolidated Joint Ventures
Percent owned (percentage)	50%
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%
Investment in Unconsolidated Joint Ventures	$ 5,079	$ 5,391

INVESTMENT IN UNCONSOLIDATED _4

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Narrative) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Investments in Unconsolidated Joint Ventures
Equity method investments	$ 5,486	$ 5,580
Hilton and IHG branded hotels in NYC | Cindat Hersha Owner JV, LLC
Investments in Unconsolidated Joint Ventures
Equity method investments	$ 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, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Investments in Unconsolidated Joint Ventures
Income (Loss) from Unconsolidated Joint Venture Investments	$ 357	$ (589)	$ (579)	$ (1,247)
Hiren Boston, LLC
Investments in Unconsolidated Joint Ventures
Income (Loss) from Unconsolidated Joint Venture Investments	301	(354)	42	(689)
SB Partners, LLC
Investments in Unconsolidated Joint Ventures
Income (Loss) from Unconsolidated Joint Venture Investments	0	(50)	(310)	(50)
SB Partners Three, LLC
Investments in Unconsolidated Joint Ventures
Income (Loss) from Unconsolidated Joint Venture Investments	$ 56	$ (185)	$ (311)	$ (508)

INVESTMENT IN UNCONSOLIDATED _6

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Summary of Unconsolidated Joint Ventures Balance Sheet) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Assets
Investment in Hotel Properties, Net	$ 1,335,479	$ 1,665,097
Other Assets	36,152	21,759
Total Assets	1,836,647	1,833,144
Liabilities and Equity
Mortgages	229,605	304,614
Equity:
Hersha Hospitality Trust	557,588	557,374
Joint Venture Partner(s)	54,536	50,922
Total Liabilities and Equity	1,836,647	1,833,144
Equity Method Investment, Nonconsolidated Investee or Group of Investees
Assets
Investment in Hotel Properties, Net	61,627	64,096
Other Assets	17,266	15,649
Total Assets	78,893	79,745
Liabilities and Equity
Mortgages	65,461	65,723
Other Liabilities	15,892	15,656
Equity:
Hersha Hospitality Trust	2,978	3,328
Joint Venture Partner(s)	(5,438)	(4,962)
Total Equity	(2,460)	(1,634)
Total Liabilities and Equity	$ 78,893	$ 79,745

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, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Operations
Other Revenue	$ 91	$ 13	$ 132	$ 25
Lease Expense	(1,771)	(1,268)	(3,019)	(2,573)
Property Taxes and Insurance	(8,335)	(9,466)	(16,818)	(19,537)
General and Administrative	(6,491)	(5,287)	(11,809)	(10,231)
Depreciation and Amortization	(17,003)	(21,014)	(36,279)	(42,816)
Interest Expense	(14,769)	(14,982)	(29,006)	(28,411)
Income Tax (Expense) Benefit	(93)	(151)	(114)	438
Net Income (Loss)	9,212	(23,523)	(7,754)	(14,433)
Room
Statement of Operations
Hotel Operating Revenues:	98,242	56,539	163,374	95,889
Operating Expenses	(19,447)	(12,350)	(34,037)	(21,548)
Equity Method Investment, Nonconsolidated Investee or Group of Investees
Statement of Operations
Other Revenue	318	125	504	242
Operating Expenses	(3,630)	(1,244)	(6,083)	(3,109)
Lease Expense	(257)	(245)	(514)	(516)
Property Taxes and Insurance	(572)	(382)	(1,144)	(1,948)
General and Administrative	(15)	(26)	(35)	(247)
Depreciation and Amortization	(1,248)	(1,300)	(2,502)	(3,612)
Interest Expense	(773)	(642)	(1,442)	(3,334)
Loss on Dissolution of Joint Venture	0	0	0	(112,429)
Income Tax (Expense) Benefit	(74)	39	51	94
Net Income (Loss)	597	(1,787)	(1,670)	(120,716)
Equity Method Investment, Nonconsolidated Investee or Group of Investees | Room
Statement of Operations
Hotel Operating Revenues:	$ 6,848	$ 1,888	$ 9,495	$ 4,143

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, 2022	Dec. 31, 2021
Equity Method Investments and Joint Ventures [Abstract]
Our share of equity recorded on the joint ventures' financial statements	$ 2,978	$ 3,328
Adjustment to reconcile our share of equity recorded on the joint ventures' financial statements to our investment in unconsolidated joint ventures	2,508	2,252
Investment in Unconsolidated Joint Ventures	$ 5,486	$ 5,580

OTHER ASSETS (Other Assets) (De

OTHER ASSETS (Other Assets) (Details) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Derivative Asset	$ 12,924,000	$ 92,000
Deferred Financing Costs	190,000	1,070,000
Prepaid Expenses	12,035,000	11,632,000
Investment in Statutory Trusts	1,548,000	1,548,000
Investment in Non-Hotel Property and Inventories	2,104,000	2,193,000
Deposits with Unaffiliated Third Parties	2,676,000	2,663,000
Deferred Tax Asset, Net of Valuation Allowance of $19,883 and $21,612, respectively	0	0
Property Insurance Receivable	906,000	693,000
Other	3,769,000	1,868,000
Total other assets	36,152,000	21,759,000
Deferred tax assets, valuation allowance	$ 19,883,000	$ 21,612,000

OTHER ASSETS (Narrative) (Detai

OTHER ASSETS (Narrative) (Details) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Deferred tax assets, net	$ 0	$ 0

DEBT (Mortgages) (Details)

DEBT (Mortgages) (Details) $ in Thousands		3 Months Ended	6 Months Ended
	Aug. 04, 2022 USD ($) mortgage	Dec. 31, 2022 USD ($)	Jun. 30, 2022 USD ($) mortgage	Jun. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)
Mortgages and Notes Payable
Repayment of principal mortgage			$ 1,221	$ 1,353
Assets Held-for-sale
Mortgages and Notes Payable
Mortgage indebtedness			74,522		$ 0
Assets Held-for-sale | Subsequent Event
Mortgages and Notes Payable
Repayment of principal mortgage	$ 35,000
Disposed of by Sale | Subsequent Event | Scenario, Plan | Courtyard San Diego, CA
Mortgages and Notes Payable
Repayment of principal mortgage		$ 39,522
Payment in Kind (PIK) Note
Mortgages and Notes Payable
Mortgage Indebtedness			158,094		156,239
Net Unamortized Deferred Financing Costs			(3,716)		(4,209)
Net Unamortized Discount			(3,861)		(4,382)
Mortgages Payable			150,517		147,648
Mortgages
Mortgages and Notes Payable
Mortgage Indebtedness			230,334		306,078
Net Unamortized Premium			10		13
Net Unamortized Deferred Financing Costs			(739)		(1,477)
Mortgages Payable			$ 229,605		304,614
Mortgages | Assets Held-for-sale
Mortgages and Notes Payable
Number 0f mortgages (mortgage) | mortgage			2
Mortgages | Assets Held-for-sale | Subsequent Event
Mortgages and Notes Payable
Number 0f mortgages (mortgage) | mortgage	1
Mortgages | Minimum
Mortgages and Notes Payable
Debt instrument, interest rate, effective (percentage)			3.84%
Mortgages | Maximum
Mortgages and Notes Payable
Debt instrument, interest rate, effective (percentage)			5.05%
Junior Subordinated Debt | Hersha Statutory Trust I and Hersha Statutory Trust II
Mortgages and Notes Payable
Mortgage Indebtedness			$ 51,548		51,548
Net Unamortized Deferred Financing Costs			(679)		(706)
Mortgages Payable			50,869		50,842
Notes Payable And Payments In Kind
Mortgages and Notes Payable
Mortgages Payable			$ 201,386		$ 198,490

DEBT (Credit Facilities Narrati

DEBT (Credit Facilities Narrative) (Details)		3 Months Ended		6 Months Ended
	Feb. 17, 2021 USD ($)	Jun. 30, 2022 USD ($) agreement	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($) agreement	Jun. 30, 2021 USD ($)	Aug. 04, 2022 USD ($)	Apr. 01, 2022
Short-term Debt
Debt extinguishment expense	$ 2,977,000
Loss on debt extinguishment		$ 0	$ 129,000	$ 0	$ 3,069,000
Line of credit facility covenant fixed charge coverage ratio							1.20
Line of credit facility covenant maximum leverage ratio (percentage)							65%
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
Term Loans | Credit Facility
Short-term Debt
Revolving line of credit, current borrowing capacity		442,404,000		442,404,000
Term Loans | $200 Million Senior Term Loan Agreement (Third Term Loan)
Short-term Debt
Debt instrument, face amount		192,404,000		192,404,000
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 | $250 Million Term Loan (First Term Loan) | Subsequent Event
Short-term Debt
Debt instrument, face amount						$ 400,000,000
Term Loans | $300 Million Senior Term Loan Agreement (Second Term Loan)
Short-term Debt
Debt instrument, face amount		$ 26,231,000		$ 26,231,000
Revolving Line Of Credit
Short-term Debt
Line of credit facility covenant maximum secured debt leverage ratio (percentage)							60%
Revolving Line Of Credit | Weighted Average
Short-term Debt
Line of credit, weighted average interest rate (percentage)		3.52%	3.53%	3.92%	3.73%
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
Revolving Line Of Credit | $250 Million Senior Revolving Line Of Credit (Line of Credit) | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Short-term Debt
Basis spread on variable rate (percentage)				2.50%
Revolving Line Of Credit | $250 Million Senior Revolving Line Of Credit (Line of Credit) | Subsequent Event
Short-term Debt
Line of credit facility, maximum borrowing capacity						$ 100,000,000

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, 2022	Dec. 31, 2021
Short-term Debt
Prior Line of Credit	$ 118,684	$ 118,684
Unsecured term loan	496,527	496,085
Term Loans
Short-term Debt
Prior Deferred Loan Costs	(954)	(1,396)
Unsecured term loan	496,527	496,085
$250 Million Senior Revolving Line Of Credit (Line of Credit) | Prior Line of Credit
Short-term Debt
Prior Line of Credit	118,684	118,684
$250 Million Term Loan (First Term Loan) | Term Loans
Short-term Debt
Unsecured term loan, gross	192,404	192,404
$300 Million Senior Term Loan Agreement (Second Term Loan) | Term Loans
Short-term Debt
Unsecured term loan, gross	278,846	278,846
$200 Million Senior Term Loan Agreement (Third Term Loan) | Term Loans
Short-term Debt
Unsecured term loan, gross	$ 26,231	$ 26,231
Minimum | $250 Million Senior Revolving Line Of Credit (Line of Credit) | Prior 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) | Prior 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%
Maximum | $200 Million Senior Term Loan Agreement (Third Term Loan) | Term Loans
Short-term Debt
Basis spread on variable rate (percentage)	2.20%

DEBT (Statutory Trust I and Sta

DEBT (Statutory Trust I and Statutory Trust II Notes Payable) (Details) - Junior Subordinated Debt $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022 USD ($) loan	Jun. 30, 2021	Jun. 30, 2022 USD ($) loan	Jun. 30, 2021
Hersha Statutory Trust I and Hersha Statutory Trust II
Subordinated Notes Payable
Number of debt instruments | loan	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)	3.97%	3.61%	3.19%	3.20%
Hersha Statutory Trust I
Subordinated Notes Payable
Subordinated notes payable	$ 25,774		$ 25,774
Basis spread on variable rate (percentage)			3%
Hersha Statutory Trust II
Subordinated Notes Payable
Subordinated notes payable	$ 25,774		$ 25,774
Basis spread on variable rate (percentage)			3%

DEBT (Junior Notes Payable) (De

DEBT (Junior Notes Payable) (Details) - Payment in Kind (PIK) Note - USD ($)		3 Months Ended
	Aug. 04, 2022	Mar. 31, 2022	Jun. 30, 2022	Feb. 17, 2021
Debt Instrument
Debt instrument, face amount		$ 158,094,000	$ 158,094,000	$ 150,000,000
Debt instrument, interest rate, percentage				0.095%
Discretionary interest rate, stated percentage				0.0475%
PIK, stated percentage				4.75%
Increase in accrued interest		$ 8,094,000
Subsequent Event
Debt Instrument
Redemption percentage	104%
Repayments of notes payable	$ 164,418,000
Debt Instrument, Redemption, Period One | Subsequent Event
Debt Instrument
Redemption percentage	104%

DEBT (Schedule of Interest Expe

DEBT (Schedule of Interest Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Debt Instrument
Deferred Financing Costs Amortization	$ 1,235	$ 1,088	$ 2,426	$ 2,380
Other	161	105	235	175
Total Interest Expense	14,769	14,982	29,006	28,411
Prior Line of Credit
Debt Instrument
Interest expense	4,507	3,754	8,157	8,122
Interest Rate Swap | Prior Line of Credit
Debt Instrument
Interest expense	971	2,417	2,793	4,841
Mortgages
Debt Instrument
Interest expense	2,948	2,680	5,477	5,415
Mortgages | Hersha Statutory Trust I and Hersha Statutory Trust II
Debt Instrument
Interest expense	4,589	4,311	8,995	6,248
Mortgages | Interest Rate Swap
Debt Instrument
Interest expense	$ 358	$ 627	$ 923	$ 1,230

LEASES (Narrative) (Details)

LEASES (Narrative) (Details)	Jun. 30, 2022 lease property
Land
Lessee, Lease, Description
Number of real estate properties (property) | property	5
Office Lease
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, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Lessee, Lease, Description
Operating lease costs	$ 1,203	$ 1,171	$ 2,343	$ 2,368
Variable lease costs	568	97	676	205
Total lease costs	1,771	1,268	3,019	2,573
Ground Lease
Lessee, Lease, Description
Operating lease costs	1,050	1,050	2,101	2,126
Variable lease costs	481	14	520	38
Total lease costs	1,531	1,064	2,621	2,164
Office Lease
Lessee, Lease, Description
Operating lease costs	153	121	242	242
Variable lease costs	87	83	156	167
Total lease costs	$ 240	$ 204	$ 398	$ 409

LEASES (Other Information) (Det

LEASES (Other Information) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Leases [Abstract]
Cash paid from operating cash flow for operating leases	$ 2,758	$ 2,246
Weighted average remaining lease term (in years)	63 years 6 months	64 years 2 months 12 days
Weighted average discount rate (in percent)	7.86%	7.87%

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES AND RELATED PARTY TRANSACTIONS (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2022 USD ($) property	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($) property	Jun. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)
Management Agreements
Term of management agreements with HHMLP (in years)			5 years
Base management fee as percentage of gross revenues (percentage)			3%
Base management fees incurred	$ 3,145,000	$ 5,143,000	$ 1,745,000	$ 2,925,000
Incentive management fees incurred	0	0	0	0
Accounting, Revenue Management and Information Technology Fees
Accounting fees	277,000	277,000	555,000	590,000
Information technology fees	90,000	90,000	177,000	191,000
Revenue management service fees	574,000	399,000	1,149,000	837,000
Capital Expenditure Fees
Fees incurred on capital expenditures	170,000	78,000	$ 294,000	197,000
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	0	$ 0	1,000
Charges for capital expenditure purchases	3,652,000	86,000	4,541,000	220,000
Insurance Services
Risk management fees	30,000	56,000	59,000	113,000
Due from Related Parties, Unclassified
Due from related parties	534,000		534,000		$ 2,495,000
Due to Related Parties
Due to related party	$ 482,000		$ 482,000		$ 1,723,000
Executive Officer
Lessee Disclosure
Ownership percentage in related party (in percentage)	70%		70%
Hotel
Lessee Disclosure
Number of real estate properties (property) | property	2		2
Fee revenue	$ 68,000	35,000	$ 111,000	48,000
Franchise
Franchise Agreements
Franchise fee expense	$ 5,362,000	$ 2,465,000	$ 8,413,000	$ 4,287,000
Minimum
Franchise Agreements
Terms of franchise agreements (in years)			10 years
Accounting, Revenue Management 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
Capital Expenditure Fees
Fee on all capital expenditures and pending renovation projects at the properties (percentage)	3%
Maximum
Franchise Agreements
Terms of franchise agreements (in years)			20 years
Accounting, Revenue Management 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
Capital Expenditure Fees
Fee on all capital expenditures and pending renovation projects at the properties (percentage)			5%

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, 2022	Dec. 31, 2021
Derivatives, Fair Value
Estimated Fair Value	$ 12,900	$ (7,942)
Interest Rate Swap | Credit Facility September 3, 2019
Derivatives, Fair Value
Strike Rate	1.824%
Notional Amount	$ 103,500
Estimated Fair Value	$ (12)	(970)
Interest Rate Swap | Credit Facility September 3, 2019 | 1 Month LIBOR
Derivatives, Fair Value
Index	2.20%
Interest Rate Swap | Credit Facility September 3, 2019
Derivatives, Fair Value
Strike Rate	1.824%
Notional Amount	$ 103,500
Estimated Fair Value	$ (12)	(970)
Interest Rate Swap | Credit Facility September 3, 2019 | 1 Month LIBOR
Derivatives, Fair Value
Index	2.20%
Interest Rate Swap | Credit Facility September 10, 2019
Derivatives, Fair Value
Strike Rate	1.46%
Notional Amount	$ 300,000
Estimated Fair Value	$ 10,225	(3,729)
Interest Rate Swap | Credit Facility September 10, 2019 | 1 Month LIBOR
Derivatives, Fair Value
Index	2%
Interest Rate Swap | Hyatt, Union Square, New York, NY
Derivatives, Fair Value
Strike Rate	1.87%
Notional Amount	$ 56,000
Estimated Fair Value	$ 637	(987)
Interest Rate Swap | Hyatt, Union Square, New York, NY | 1 Month LIBOR
Derivatives, Fair Value
Index	2.30%
Interest Rate Swap | Hilton Garden Inn Tribeca, New York, NY
Derivatives, Fair Value
Strike Rate	1.768%
Notional Amount	$ 22,725
Estimated Fair Value	$ 605	(460)
Interest Rate Swap | Hilton Garden Inn Tribeca, New York, NY | 1 Month LIBOR
Derivatives, Fair Value
Index	2.25%
Interest Rate Swap | Hilton Garden Inn Tribeca, New York, NY
Derivatives, Fair Value
Strike Rate	1.768%
Notional Amount	$ 22,725
Estimated Fair Value	$ 604	(460)
Interest Rate Swap | Hilton Garden Inn Tribeca, New York, NY | 1 Month LIBOR
Derivatives, Fair Value
Index	2.25%
Interest Rate Swap | Hilton Garden Inn 52nd Street, New York, NY
Derivatives, Fair Value
Strike Rate	1.54%
Notional Amount	$ 44,325
Estimated Fair Value	$ 194	(458)
Interest Rate Swap | Hilton Garden Inn 52nd Street, New York, NY | 1 Month LIBOR
Derivatives, Fair Value
Index	2.30%
Interest Rate Cap | Courtyard, LA Westside, Culver City, CA
Derivatives, Fair Value
Strike Rate	2.50%
Notional Amount	$ 35,000
Estimated Fair Value	$ 659	$ 92

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, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Derivatives, Fair Value
Gain (loss) on fair value of derivative instruments	$ 5,353	$ 20,842	$ 2,398	$ 9,163
Unrealized gain (loss) reclassified from accumulated other comprehensive income to interest expense	0	$ 0	(141)	$ 159
Loss to be reclassified to interest expense during next 12 months	6,521		6,521
Carrying (Reported) Amount, Fair Value Disclosure
Derivatives, Fair Value
Carrying value and estimated fair value of debt	1,120,364		1,120,364		$ 1,117,873
Estimate of Fair Value, Fair Value Disclosure
Derivatives, Fair Value
Carrying value and estimated fair value of debt	$ 1,147,112		$ 1,147,112		$ 1,146,699

SHARE BASED PAYMENTS (Summary O

SHARE BASED PAYMENTS (Summary Of Share Based Compensation Activity) (Details)	6 Months Ended
	Jun. 30, 2022 $ / shares shares
LTIP Unit Awards
Number of Units
Unvested balance, beginning of the period (in shares)	1,658,995
Granted (in shares)	194,427
Vested (in shares)	0
Unvested balance, end of the period (in shares)	1,853,422
Weighted Average Grant Date Fair Value
Unvested balance, beginning of the period (in dollars per share) | $ / shares	$ 10.73
Granted (in dollars per share) | $ / shares	11.25
Unvested balance, ending of the period (in dollars per share) | $ / shares	$ 10.78
Restricted Share Awards
Number of Units
Unvested balance, beginning of the period (in shares)	170,740
Granted (in shares)	67,804
Vested (in shares)	(125,544)
Unvested balance, end of the period (in shares)	113,000
Weighted Average Grant Date Fair Value
Unvested balance, beginning of the period (in dollars per share) | $ / shares	$ 10.52
Granted (in dollars per share) | $ / shares	11.25
Vested (in dollars per share) | $ / shares	10.82
Unvested balance, ending of the period (in dollars per share) | $ / shares	$ 10.62
Share Awards
Number of Units
Unvested balance, beginning of the period (in shares)	0
Granted (in shares)	71,832
Vested (in shares)	(71,832)
Unvested balance, end of the period (in shares)	0
Weighted Average Grant Date Fair Value
Granted (in dollars per share) | $ / shares	$ 10.57
Vested (in dollars per share) | $ / shares	$ 10.57

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, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award
Share Based Compensation Expense	$ 3,299	$ 2,589	$ 5,840	$ 4,758
Unearned Compensation	14,319		14,319		$ 14,408
LTIP Unit Awards
Share-based Compensation Arrangement by Share-based Payment Award
Share Based Compensation Expense	2,142	1,534	3,919	3,258
Unearned Compensation	9,613		9,613		11,344
Restricted Share Awards
Share-based Compensation Arrangement by Share-based Payment Award
Share Based Compensation Expense	346	254	538	422
Unearned Compensation	1,049		1,049		834
Share Awards
Share-based Compensation Arrangement by Share-based Payment Award
Share Based Compensation Expense	478	367	764	367
Unearned Compensation	0		0		0
Market Based
Share-based Compensation Arrangement by Share-based Payment Award
Share Based Compensation Expense	333	$ 434	619	$ 711
Unearned Compensation	$ 3,657		$ 3,657		$ 2,230

SHARE BASED PAYMENTS (Narrative

SHARE BASED PAYMENTS (Narrative) (Details) - $ / shares		6 Months Ended
	May 26, 2022	Jun. 30, 2022
LTIP Unit Awards
Share-based Compensation Arrangement by Share-based Payment Award
Shareholder return (in percent)	37.50%
Relative revenue growth (in percent)	25%
Granted (in shares)		194,427
Vesting period (in years)	3 years
Volume weighted average share price ( in dollars per share)	$ 9.04
Compensation cost not yet recognized, period for recognition (in years)		1 year
LTIP Unit Awards | Time Based
Share-based Compensation Arrangement by Share-based Payment Award
Award authorized (in percent)	40%
Granted (in shares)	194,427
LTIP Unit Awards | Achievement Based
Share-based Compensation Arrangement by Share-based Payment Award
Award authorized (in percent)	60%
Market Based Long Term Incentive Plan Units
Share-based Compensation Arrangement by Share-based Payment Award
Award authorized (in percent)	60%
Compensation cost not yet recognized, service period for recognition (in years)	3 years
Restricted Share Awards
Share-based Compensation Arrangement by Share-based Payment Award
Granted (in shares)		67,804
Compensation cost not yet recognized, period for recognition (in years)		1 year

SHARE BASED PAYMENTS (Remaining

SHARE BASED PAYMENTS (Remaining unvested target units expected to vest) (Details)	Jun. 30, 2022 shares
2022
Share-based Compensation Arrangement by Share-based Payment Award
Remaining unvested target units, expected to vest (in units)	680,854
2023
Share-based Compensation Arrangement by Share-based Payment Award
Remaining unvested target units, expected to vest (in units)	1,207,755
2024
Share-based Compensation Arrangement by Share-based Payment Award
Remaining unvested target units, expected to vest (in units)	74,813
2025
Share-based Compensation Arrangement by Share-based Payment Award
Remaining unvested target units, expected to vest (in units)	3,000
LTIP Unit Awards | 2022
Share-based Compensation Arrangement by Share-based Payment Award
Remaining unvested target units, expected to vest (in units)	680,854
LTIP Unit Awards | 2023
Share-based Compensation Arrangement by Share-based Payment Award
Remaining unvested target units, expected to vest (in units)	1,107,757
LTIP Unit Awards | 2024
Share-based Compensation Arrangement by Share-based Payment Award
Remaining unvested target units, expected to vest (in units)	64,811
LTIP Unit Awards | 2025
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)	0
Restricted Share Awards | 2023
Share-based Compensation Arrangement by Share-based Payment Award
Remaining unvested target units, expected to vest (in units)	99,998
Restricted Share Awards | 2024
Share-based Compensation Arrangement by Share-based Payment Award
Remaining unvested target units, expected to vest (in units)	10,002
Restricted Share Awards | 2025
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, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Basic and Diluted
Net income (loss)		$ 9,212	$ (23,523)	$ (7,754)	$ (14,433)
(Income) Loss allocated to Noncontrolling Interests		(1,070)	977	(619)	813
Distributions to Preferred Shareholders		(6,043)	(6,044)	(12,087)	(12,087)
Net income (loss) applicable to Common Shareholders		$ 2,099	$ (28,590)	$ (20,460)	$ (25,707)
DENOMINATOR:
Weighted average number of common shares - basic (in shares)		39,277,269	39,097,820	39,254,536	39,034,707
Effect of dilutive securities:
Restricted stock awards and LTIP units (unvested) (in shares)		853,136	0	0	0
Contingently issued shares and units (in shares)		323,380	0	0	0
Weighted average number of common shares - diluted (in shares)	[1]	40,453,785	39,097,820	39,254,536	39,034,707
[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, 2022	Jun. 30, 2021
Supplemental Cash Flow Elements [Abstract]
Interest paid	$ 19,976	$ 20,052
Net payments for interest rate derivatives	4,333	6,259
Cash paid for income taxes	$ 1,085	$ 60

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, 2022	Jun. 30, 2021
Noncash Investing and Financing Items [Abstract]
Issuance of share based payments	$ 5,171	$ 13,103
Accrued payables for capital expenditures placed into service	433	230
Adjustment to Record Noncontrolling Interest at Redemption Value	$ 2,964	$ 1,968

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, 2022	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2020
Supplemental Cash Flow Elements [Abstract]
Cash and cash equivalents	$ 87,918	$ 72,238	$ 69,083
Escrowed cash	12,764	12,707	11,067
Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows	$ 100,682	$ 84,945	$ 80,150	$ 23,607