Welcome to our dedicated page for Hersha Hospitali news (Ticker: HT), a resource for investors and traders seeking the latest updates and insights on Hersha Hospitali stock.
Hersha Hospitality Trust (HT) provides investors with comprehensive updates on its portfolio of 51 upscale hotels across major urban markets. This hub delivers timely announcements and in-depth analysis of financial results, strategic acquisitions, and operational developments for this NYSE-listed REIT.
Access essential updates including quarterly earnings reports, debt management initiatives, and market-specific performance metrics like Revenue per Available Room (RevPAR) and occupancy rates. Track management's execution of urban-focused strategies in cities including New York, Boston, and Miami, alongside financial stability measures through interest rate hedging.
Discover insights into corporate travel recovery patterns, international tourism trends, and comparative performance against industry benchmarks. All content is curated to support informed analysis of HT's position within the hospitality REIT sector.
Bookmark this page for ongoing access to press releases, leadership commentary, and operational updates directly from Hersha Hospitality Trust. For additional resources, visit the company's official website.
Hersha Hospitality Trust (NYSE: HT) reported a significant net loss of approximately ($67.5 million), or ($1.75) per diluted share, for Q2 2020 due to the COVID-19 pandemic's impact on the travel industry. Adjusted Funds From Operations (AFFO) fell 180.2% to ($26.8 million). Despite these losses, the company improved its cash burn rate from $10.5 million in April to $7.8 million in June, ending Q2 with $23.2 million in cash. As of August 1, 2020, 33 of 48 hotels were operational, indicating a gradual recovery as demand trends improve.
Hersha Hospitality Trust (HT) announced it will release its Q2 2020 financial results on August 5, 2020, post-market. A conference call is scheduled for August 6, at 9:00 AM ET, hosted by CEO Jay H. Shah, President Neil H. Shah, and CFO Ashish Parikh. The call will be accessible via phone or live audio webcast. Hersha operates 48 upscale hotels across urban gateway markets and resort destinations, totaling 7,644 rooms. The release contains forward-looking statements regarding economic performance and operational cash sufficiency.
Hersha Hospitality Trust (NYSE: HT) reported a significant net loss of approximately ($29.1 million) or ($0.76) per share for Q1 2020, largely impacted by the COVID-19 pandemic. AFFO decreased by $8.7 million to ($2.4 million). Despite a strong start to the year, travel restrictions led to an 80% reduction in on-property labor costs due to the suspension of operations at 21 out of 48 hotels. The company amended its credit facility to access an additional $100 million and secured a financial covenant waiver through March 31, 2021, enhancing operational flexibility.
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