Hersha Hospitality Trust (HT) is a self-advised Maryland Real Estate Investment Trust (REIT) that invests in institutional grade, upscale hotels in metropolitan central business districts primarily in the Northeastern United States. The majority of its hotel properties are located from Boston to Washington, DC and HT has a particular focus and concentration of properties in the New York City metro area, a market where it has substantial expertise.
Hersha also has properties within lucrative secondary suburban office markets and corporate centers, as well as properties within emerging and high traffic leisure and vacation markets, including select markets in Miami, Florida and Western and West Coast region of the US. As of February 12, 2013, the Company owns interests in 64 high quality upper upscale, upscale, and midscale hotels with 9,307 rooms.
The Company's investment goals are high current cash flow for dividend distribution to shareholders and growth in cash flow through increases in revenues and capital appreciation in the residual value of investment properties. Qualification as a REIT under the Internal Revenue Code enables the Company to distribute income to shareholders without federal income tax liability to the Company.
Since its formation, Hersha Hospitality Trust has outpaced the growth of many comparable hospitality REITs. The company's experienced management combined with its long-term strategy of investing in metropolitan markets, its industry-wide affiliations and its unparalleled hospitality management savvy have made HT one of the most recognized names in the hospitality industry today.
Hersha trades under the symbol HT on the New York Stock Exchange.