Hersha Hospitality to aquire Capital Hill Suites

PHILADELPHIA--(Hospitality Business News)-- Hersha Hospitality Trust(NYSE: HT), owner of select service and upscale hotels in major metropolitan markets, announced that it has signed a definitive agreement to purchase the 152 room Capitol Hill Suites, Washington, D.C. for approximately $47.5 million, or $312 thousand per key excluding closing costs.

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Hersha lines up credit of up to $250 million

Hotel owner Hersha Hospitality Trust said Tuesday it has obtained commitments to borrow as much as $250 million under a senior secured credit facility.


The real estate investment trust said it signed a commitment letter with TD Bank NA and TD Securities (USA) LLC for a proposed $225 million credit line that comes due in three years. The facility also includes the option for a one-year extension and may be increased to $250 million.

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Hersha Hospitality Announces Second Quarter 2010 Results

For the second quarter ended June 30, 2010, net income applicable to common shareholders increased to $3.4 million, or $0.02 per diluted common share, compared to a net loss of $(0.2) million, or $(0.01) per diluted common share for the comparable quarter of 2009.

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Starwood Capital buys stake in hotel management co

Private equity firm Starwood Capital has bought a 49.9 percent stake in privately held Hersha Hospitality Management to form a partnership to tap into management opportunities in the lodging space.


Starwood Capital, led by Barry Sternlicht -- founder of Starwood Hotels and Resorts (HOT.N) -- will contribute capital and deal-flow to the partnership.

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Hersha Hospitality Announces First Quarter 2010 Results

For the first quarter ended March 31, 2010, net loss applicable to common shareholders was $(15.8) million, or $(0.16) per diluted common share for the first quarter of 2010, compared to a net loss of $(9.8) million, or $(0.21) per common share for the comparable quarter of 2009.


Adjusted Funds from Operation (“AFFO”) in the first quarter was a loss of $(1.2) million, compared to $1.2 million in the first quarter of 2009. AFFO per diluted common share and limited partnership unit was a loss of $(0.01) compared to $0.02 for the same quarter of 2009. AFFO per share was impacted by an increase in the Company’s weighted average fully diluted share count to approximately 108.8 million in the first quarter of 2010 from approximately 56.5 million in the comparable quarter of 2009.

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Hersha Hospitality Announces Fourth Quarter 2009 Results

- Achieved consolidated Hotel EBITDA margins of 34.0% -

- Margin decline held to 117 bps -

- Consolidated Hotel RevPAR decreased 9.7% -

- Adjusted Funds from Operation was $0.07 per diluted common share -

- New York City was the best performing market in the portfolio -

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Hersha Hospitality buys 3 Times Square hotels

Hersha Hospitality Trust said it closed on the purchase of three hotels in New York City, paying $165 million for the properties.

Hersha (NYSE:HT), which has offices in Philadelphia, acquired the Hampton Inn, with 184 rooms; Candlewood Suites, with 188 rooms; and Holiday Inn Express Times Square, with 210 rooms. All three hotels are in the Times Square area. All are managed by Hersha Hospitality Management LP.

For the sellers, the purchase price included a limited-partnership interest in Hersha

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Hersha Hospitality Trust Begins Public Offering Of 35 Mln Shares Of Beneficial Interest

(RTTNews) - Monday, Hersha Hospitality Trust (HT: News ) commenced a public offering of 35 million common shares of beneficial interest, par value $0.01 per share. Hersha intends to grant the underwriters of the offering a 30-day option to purchase up to an additional 4.73 million common shares to cover over-allotments, if any.

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Hersha Hospitality Announces Third Quarter 2009 Results

- Achieved consolidated Hotel EBITDA margins of 37.7% -

- Margin decline excluding property taxes held to 117 bps -

- Consolidated Hotel RevPAR decreased 14.8% -

- Adjusted Funds from Operation ("AFFO") was $0.23 per diluted common share -

- Beginning to benefit from Improving Market in NYC -

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Hersha Hospitality Announces Sale of Non-Core Properties

Hersha Hospitality Trust (NYSE: HT), owner of select service and upscale hotels in major metropolitan markets, today announced the sale of three properties. The properties include a Mainstay Suites and a Comfort Inn in Frederick, MD and a Four Points in Revere, MA.On a trailing twelve month property-level earnings before interest, taxes, depreciation, and amortization (“Hotel EBITDA”) basis, the Company sold the Frederick properties for 12.3 times and the Revere property for 12.4 times.

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Hersha Hospitality Announces First Quarter 2009 Earnings

Hersha Hospitality Trust (HT) is a self-advised real estate investment trust, which owns interests in 77 hotels totaling 9,752 rooms, primarily along the Northeast Corridor from Boston to Washington DC. The Company also owns hotels in Northern California and Scottsdale, Arizona. Hersha focuses on high quality upscale hotels in high barrier to entry markets