Hersha hospitality trust announces first quarter 2023 results

- first quarter 2023 net loss of $(0.38) per share - - first quarter 2023 adjusted funds from operations1 of $0.02 per share - - comparable excluding renovations portfolio growth to the first quarter 2019 - - adr growth of 20.9% - - ebitda growth of 18.9% - - ebitda margin growth of 196 bps - philadelphia, april 26, 2023 (globe newswire) -- hersha hospitality trust (nyse: ht) (“hersha,” “company,” “we” or “our”), owner of high-quality hotels in urban gateway markets and regional resort destinations, today announced results for the first quarter ended march 31, 2023. first quarter 2023 financial results (unaudited in thousands, except per share amounts)   three months ended march 31,       2023       2022   net loss applicable to common shareholders $ (14,939 )   $ (22,235 ) net loss per common share $ (0.38 )   $ (0.57 )         adjusted ffo1 $ 1,032     $ 3,106   adjusted ffo per common share and op unit $ 0.02     $ 0.07   net loss applicable to common shareholders was approximately $14.9 million, or $0.38 per diluted common share, in the first quarter 2023, compared to net loss applicable to common shareholders of approximately $22.2 million, or $0.57 per diluted common share, in the first quarter 2022.
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