HT - Hersha Hospitality FFO of $0.38 misses by $0.02 revenue of $97.81M beats by $0.55M

2023-08-02 16:34:40 ET

• Hersha Hospitality press release ( NYSE: HT ): Q2 FFO of $0.38 misses by $0.02 .
• Revenue of $97.81M (-20.7% Y/Y) beats by $0.55M .

• Third Quarter 2023 Outlook

  In July the comparable portfolio realized RevPAR growth of 5.1% driven by our urban properties, which realized 12.3% RevPAR growth for the month. For July and the third quarter, the Winter Haven Hotel is excluded from the comparable portfolio as it is closed for renovation with an expectation of reopening in the fourth quarter of 2023.

• AFFO per share expected to be between $0.24-$0.30, vs. consensus of $0.29

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