- HT's portfolio of upscale hotels has been rebounding steadily this year.
- Unfortunately, five hotels have been sold so far this year in order to fund the REIT's persistent cash burn.
- June was the first month that HT began cash flowing again at the corporate level.
- HT has an enormous debt load that is likely to weigh it down for years and prevent the common shares from paying a meaningful dividend for the foreseeable future.
- The preferred equity is a much more attractive option for tapping into the REIT's recovering cash flows.
For further details see:
Hersha Hospitality: Weighed Down By Debt, The Preferreds Are The Best Way To Tap Into Cash Flows