| Business Summary | | Hersha
Hospitality
Trust
is
a
self-advised
real
estate
investment
trust
(REIT)
that
owns
limited-
and
full-service
hotels
with
national
franchise
affiliations
in
the
upper-economy
and
mid-scale
markets.
The
Company
focuses
predominantly
on
potential
acquisitions
in
the
eastern
United
States.
As
of
March
27,
2001,
the
Company
owned
four
Holiday
Inn
Express
hotels,
one
Hampton
Inn
&
Suites
hotel,
five
Hampton
Inn
hotels,
two
Holiday
Inn
hotels,
one
Comfort
Suites
hotel,
five
Comfort
Inn
hotels,
one
Best
Western
hotel,
one
Sleep
Inn
hotel
and
one
Clarion
Suites
hotel,
which
contain
an
aggregate
of
1,940
rooms.
In
order
to
qualify
as
a
REIT,
the
Company's
hotels
are
leased
to
Hersha
Hospitality
Management,
L.P.
(17
hotels)
and
to
Noble
Investment
Group,
Ltd.
(four
hotels),
pursuant
to
percentage
leases
based,
in
part,
on
the
revenues
at
such
hotels. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Hersha
Hospitality
Trust
is
a
self-advised
real
estate
investment
trust
that
owns
both
full-and
limited-service
hotels
with
national
franchise
affiliations.
The
Company
owns
21
hotels
located
in
New
York,
Pennsylvania
and
Maryland.
For
the
six
months
ended
6/30/01,
revenues
increased
19%
to
$6.6
million.
Net
income
decreased
28%
to
$361
thousand.
Results
reflect
increased
number
of
hotels
owned,
offset
by
increased
depreciation
expenses. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| Hasu Shah, 56 Chairman,
CEO | -- | Ashish Parikh, 31 CFO | $55K | Everette Allen, Jr., 60 Trustee | -- | Thomas Capello, 57 Trustee | -- | L. McCarthy Downs, III, 48 Trustee | -- | Dollar
amounts are as of 31-Dec-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|