Hersha Hospitality Trust (HT) Tops Q1 FFO by 1c

Hersha Hospitality Trust (NYSE: HT) reported Q1 FFO of $0.06, $0.01 better than the analyst estimate of $0.05. Revenue for the quarter came in at $79.95 million versus the consensus estimate of $79.95 million.

For first quarter 2014, revenue per available room (“RevPAR”) at the Company's 44 consolidated hotels as of March 31, 2014, compared to 38 hotels as of March 31, 2013, increased 3.9% to $125.01 compared to $120.34 in first quarter 2013. The Company’s average daily rate (“ADR”) for the consolidated hotel portfolio increased by 1.7% to $164.67, while occupancy increased 157 basis points to 75.9%. Hotel EBITDA for the consolidated hotel portfolio increased approximately 24.0%, or $4.6 million, to $24.1 million in first quarter 2014 compared to first quarter 2013, while hotel EBITDA margins rose 40 basis points to 30.2%.

For earnings history and earnings-related data on Hersha Hospitality Trust (HT) click here.

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