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Hersha Hospitality Trust reported news as a self-advised hospitality REIT that owned and operated luxury and lifestyle hotels in coastal gateway and resort markets. Recurring company updates covered quarterly operating results, hotel portfolio performance, funds from operations, adjusted funds from operations, dividend declarations, preferred-share distributions, and tax classifications for shareholder reporting.
Later company news also documented Hersha’s corporate-status transition following the November 28, 2023 merger involving Hersha Hospitality Trust and 1776 Portfolio REIT Merger Sub, LLC. Historical HT news therefore centers on the company’s former public REIT operations, capital structure, and distribution record.
Cambio publicly launched its AI-native commercial real estate operations platform and closed an $18 million Series A round led by Maverick Ventures with participation from Y Combinator, Adverb Ventures, Peterson Ventures and several angel investors.
Cambio uses agentic AI and large language models to compress months of manual building analysis into minutes, prioritize retrofit investments, and combine capital planning with compliance. The company reported operations in 35+ countries, opened a London office, and lists global customers including Principal Real Estate, Nuveen, LaSalle, Oxford Properties, Madison International and Beacon Capital Partners.
Cambio added four senior hires and said its team has experience managing $400 billion of commercial real estate globally.
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Hersha Hospitality Trust (HT) reported a first-quarter net loss of $(0.38) per share, improving from $(0.57) in Q1 2022. The adjusted funds from operations (AFFO) fell to $0.02 per share compared to $0.07 last year, influenced by the sale of 10 hotels in 2022, despite stronger performance in key markets. The company noted a significant 20.9% growth in average daily rate (ADR) and an 18.9% increase in EBITDA with margins improving by 196 basis points. Year-over-year results showed RevPAR growth of 31% in urban markets, with Washington D.C., Boston, and Manhattan leading. Looking forward, Q2 2023 expectations indicate a potential net income ranging from $(0.02) to $0.05 per share. Despite macroeconomic uncertainties, the company maintains a positive outlook on recovery and operational improvements from recent renovations.
Hersha Hospitality Trust (NYSE: HT) announced its financial results for Q1 2023 will be disclosed post-market on April 26, 2023. The company will hold a conference call on April 27, 2023, at 9:00 AM ET, led by CEO Neil H. Shah and CFO Ashish Parikh. Hersha operates luxury hotels across coastal gateway and resort markets, with a portfolio of 25 hotels and 3,811 rooms located in key areas such as New York, DC, Boston, Philadelphia, South Florida, and California. A replay of the conference will be accessible until May 25, 2023, emphasizing the company's commitment to transparency.