Hersha Hospitality Trust : First Quarter 2023 Supplemental Schedules

Q1 2023 Supplemental Schedules

Page

• Q1 2023 Earnings Slides

• Property Level Statistics

• Key Performance Indicators 2023 vs 2019

• Key Performance Indicators 2023 vs 2022
  10 Comparable Portfolio Metrics
  11 Total Portfolio Summary
  12 Portfolio Statistics
  13 Mortgages, Notes Payable and Bank Facility Debt
  14 Enterprise Value
  15 Unconsolidated Joint Venture EBITDA
  16 Hotel EBITDA Reconciliation

P O R T F O L I O R E V PA R G R O W T H T O 2 0 1 9 H A S C O N T I N U E D I N T O 2 0 2 3

FIRST QUARTER-PORTFOLIO CONTINUES TO EXCEED PRE COVID PERFORMANCE DESPITE DISRUPTION

• The first quarter is seasonally the slowest in our Northeast markets and several disruptive renovation projects were completed during this low season
• Excluding properties under renovation1 HT generated RevPAR growth in each month of the quarter compared to 2019 and a total of 11.4% in Q1 on 20.9% ADR growth
• South Florida is the largest driver of RevPAR growth to 2019, up 31.9% from the first quarter of 2019 driven by ADR growth of 25.8%
• Performance in our Northeast urban markets accelerated through the quarter as Washington D.C. Boston and Manhattan and Boston posted 120%, 58%, and 55% RevPAR growth in the quarter from January to March of 2023 respectively

COMPARABLE REVPAR GROWTH vs 2019

$300																											15%
																$229	$249										10%
$250															$225
				$227	$231	$227	$223	$222	$224						8.7%							6.9%
				$208	$201	$199			$215				$204		$213			$208	$205	5%
										$192	$192	5.0%				$205		3.9%
					1.7%							$200		3.7%
$200				$194					0.9%					2.3%		$187			0%
									-0.8%											-1.0%
	$175	$169					-1.6%				-0.1%									$175
	$149		-3.4%																			$149	$154				-5%
$150			-6.3%
	$114																										-10%
$100																											-15%
																											-20%
$50	-23.4%
																									-25%
$-																											-30%
	Jan '19 v '22	Feb '19 v '22	Mar '19 v '22	Apr '19 v '22	May '19 v '22	Jun '19 v '22	Jul '19 v '22	Aug '19 v '22	Sep '19 v '22	Oct '19 v '22	Nov '19 v '22	Dec '19 v '22	Jan '19 v '23	Feb '19 v '23	Mar '19 v '23
											2019		2022/2023	Growth to 2019										2

1 Properties under renovation include The Philadelphia Westin, Sanctuary Beach Resort, Hilton Garden Inn Midtown East, Hilton Garden Inn Tribeca and Mystic Marriott

E F F I C I E N T C O R P O R AT E C A S H F L O W P O S T D I S P O S I T I O N S

CASH FLOW GROWTH ON A COMPARABLE BASIS EXCLUDING DISPOSITIONS(1)

• Excluding EBITDA generated by the 16 aggregate dispositions from 2020- 2022; we have exceeded pre-covid Corporate cash flow for in each month of 2022 and 2023
• The cashflow growth of our focused portfolio coupled with our reduced corporate footprint, and refinanced credit facility has more than offset any EBITDA loss from sales
• Debt service has been reduced to approximately $2.9M per month after August 2022 despite a significantly elevated interest rate environment

Hersha Corporate Cash Flow ($ M's)

$10 $8 $6 $4 $2 $- $(2) $(4) $(6)

January February March

April

May

June

July

August September October November December January February March

2019 2022/2023

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1. Includes 23 Hotels and excludes Sheraton Wilmington South (sale of asset closed in 2020), Courtyard San Diego, HIEX Cambridge, Capitol Hill Hotel, Residence Coconut Grove, Duane St (Sales closed in 2021), the USS-7, Hotel Milo, Pan Pacific Seattle and Gate JFK (sales closed in 2022)

Topline Property Level Operating Statistics

Q1 2023/2022/2019

			Occupancy				ADR					RevPAR
		Q1 2023	Q1 2022	Q1 2019	'23 vs '19		Q1 2023	Q1 2022	Q1 2019	'23 vs '19		Q1 2023	Q1 2022	Q1 2019	'23 vs '19
Boston Envoy	72.3%	54.5%	78.5%	(613)bps	$307.74	$290.04	$271.47	13.4%	$222.63	$158.03	$213.03	4.5%
The Boxer	68.1%	61.7%	76.6%	(854)bps	$180.49	$162.53	$159.63	13.1%	$122.83	$100.27	$122.27	0.5%
Mystic Hotel & Spa(1)	55.1%	43.6%	65.4%	(1,026)bps	$152.70	$149.81	$131.10	16.5%	$84.20	$65.30	$85.74	‐1.8%
Total Boston	61.9%	49.4%	70.7%	(886)bps	$206.79	$194.29	$178.31	16.0%	$127.95	$96.06	$126.13	1.4%
Hyatt Union Square	72.3%	55.6%	88.6%	(1,626)bps	$300.74	$275.69	$274.05	9.7%	$217.52	$153.37	$242.78	‐10.4%
Hilton Garden Inn 52nd Street(1)	81.0%	50.1%	89.9%	(886)bps	$182.30	$176.06	$164.22	11.0%	$147.75	$88.14	$147.64	0.1%
Hilton Garden Inn Tribeca(1)	69.0%	64.8%	91.0%	(2,197)bps	$181.93	$144.25	$175.97	3.4%	$125.61	$93.47	$160.16	‐21.6%
Holiday Inn Express Manhattan	72.9%	61.6%	91.5%	(1,864)bps	$157.35	$142.32	$149.32	5.4%	$114.70	$87.66	$136.68	‐16.1%
Hampton Inn Seaport	79.9%	55.7%	93.3%	(1,344)bps	$144.46	$129.46	$140.69	2.7%	$115.42	$72.12	$131.31	‐12.1%
Total Manhattan	74.6%	57.6%	90.5%	(1,590)bps	$197.02	$176.75	$183.42	7.4%	$147.07	$101.74	$166.08	‐11.4%
NU Hotel	69.0%	59.6%	75.8%	(680)bps	$168.26	$161.92	$154.76	8.7%	$116.15	$96.43	$117.36	‐1.0%
Hilton Garden Inn JFK	79.3%	75.2%	94.3%	(1,505)bps	$152.90	$144.12	$163.16	‐6.3%	$121.17	$108.31	$153.87	‐21.2%
Hyatt House White Plains	69.0%	51.3%	73.7%	(472)bps	$193.07	$178.39	$152.00	27.0%	$133.13	$91.51	$111.99	18.9%
Total NYC Metro	73.2%	62.6%	82.5%	(933)bps	$170.75	$158.58	$157.69	8.3%	$124.92	$99.32	$130.08	‐4.0%
Rittenhouse Hotel	36.5%	27.9%	58.8%	(2,229)bps	$561.37	$582.85	$410.61	36.7%	$205.04	$162.45	$241.49	‐15.1%
Westin Philadelphia(1)	30.8%	46.4%	77.5%	(4,667)bps	$247.49	$197.21	$225.12	9.9%	$76.23	$91.59	$174.41	‐56.3%
Total Philadelphia	32.4%	41.1%	72.1%	(3,969)bps	$348.71	$272.08	$268.44	29.9%	$113.12	$111.88	$193.63	‐41.6%
Cadillac Hotel & Beach Club	89.7%	81.4%	74.7%	1,497 bps	$336.82	$359.14	$278.96	20.7%	$302.03	$292.45	$208.40	44.9%
Ritz Carlton Coconut Grove	81.5%	81.7%	84.1%	(254)bps	$549.26	$477.84	$382.17	43.7%	$447.74	$390.44	$321.24	39.4%
Winter Haven Hotel	82.3%	79.8%	82.9%	(56)bps	$285.61	$294.92	$255.19	11.9%	$235.06	$235.24	$211.44	11.2%
Blue Moon Hotel	76.5%	25.8%	86.6%	(1,004)bps	$213.71	$178.93	$244.95	‐12.8%	$163.53	$46.15	$212.03	‐22.9%
Parrot Key Hotel & Villas	77.0%	85.2%	85.9%	(890)bps	$495.88	$579.27	$341.28	45.3%	$382.03	$493.69	$293.29	30.3%
Total South Florida	84.0%	76.6%	80.2%	385 bps	$380.43	$413.49	$302.29	25.8%	$319.71	$316.73	$242.42	31.9%
Ritz Carlton Georgetown	60.5%	59.4%	71.6%	(1,112)bps	$588.05	$496.32	$443.23	32.7%	$355.64	$294.72	$317.36	12.1%
St. Gregory Hotel	46.4%	29.7%	55.9%	(956)bps	$243.37	$190.08	$193.82	25.6%	$112.90	$56.40	$108.44	4.1%
Annapolis Waterfront Hotel	80.3%	72.4%	72.3%	793 bps	$194.95	$174.46	$155.47	25.4%	$156.45	$126.23	$112.44	39.1%
Total Washington DC	62.4%	52.5%	65.7%	(323)bps	$292.80	$257.80	$237.43	23.3%	$182.82	$135.41	$155.93	17.2%
Ambrose	80.8%	73.8%	90.1%	(928)bps	$344.20	$337.90	$295.58	16.4%	$278.24	$249.40	$266.36	4.5%
Sanctuary Beach Resort(1)	39.6%	59.4%	76.4%	(3,681)bps	$421.10	$478.32	$272.09	54.8%	$166.57	$284.07	$207.80	‐19.8%
Total West Coast	62.8%	67.5%	84.1%	(2,134)bps	$365.43	$392.01	$286.24	27.7%	$229.33	$264.58	$240.71	‐4.7%
Total Comparable Portfolio		67.9%	59.1%	79.2%	(1,130)bps		$268.46	$268.59	$223.79	20.0%		$182.24	$158.82	$177.20	2.8%
(1) Property was undergoing renovation in Q1 2023

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Property Level Operating Statistics

Q1 2023/2022/2019

			Total Revenue				EBITDA					EBITDA Margin
		Q1 2023	Q1 2022	Q1 2019	'23 vs '19		Q1 2023	Q1 2022	Q1 2019	'23 vs '19		Q1 2023	Q1 2022	Q1 2019	'23 vs '19
Boston Envoy	3,500,132	2,803,443	3,757,758	‐6.9%	574,842	383,241	662,024	‐13.2%	16.4%	13.7%	17.6%	‐1.2%
The Boxer	1,098,057	920,567	1,147,206	‐4.3%	5,723	4,731	51,156	‐88.8%	0.5%	0.5%	4.5%	‐3.9%
Mystic Hotel & Spa(1)	3,616,685	2,412,536	4,159,021	‐13.0%	371,455	117,242	469,514	‐20.9%	10.3%	4.9%	11.3%	‐1.0%
Total Boston	8,214,874	6,136,546	9,063,986	‐9.4%	952,021	505,214	1,182,695	‐19.5%	11.6%	8.2%	13.0%	‐1.5%
Hyatt Union Square	4,381,747	3,020,678	5,120,327	‐14.4%	723,002	390,308	808,697	‐10.6%	16.5%	12.9%	15.8%	0.7%
Hilton Garden Inn 52nd Street(1)	2,919,943	1,746,862	3,034,988	‐3.8%	711,029	305,350	546,352	30.1%	24.4%	17.5%	18.0%	6.3%
Hilton Garden Inn Tribeca(1)	1,735,056	1,421,025	2,355,673	‐26.3%	149,980	96,768	494,568	‐69.7%	8.6%	6.8%	21.0%	‐12.4%
Holiday Inn Express Manhattan	2,512,434	1,909,263	2,867,773	‐12.4%	488,237	359,354	742,207	‐34.2%	19.4%	18.8%	25.9%	‐6.4%
Hampton Inn Seaport	674,732	425,375	787,859	‐14.4%	(19,002)	(101,557)	16,343	‐216.3%		‐2.8%	‐23.9%	2.1%	‐4.9%
Total Manhattan	12,223,912	8,523,203	14,166,620	‐13.7%	2,053,245	1,050,224	2,608,167	‐21.3%	16.8%	12.3%	18.4%	‐1.6%
NU Hotel	1,064,574	886,381	1,103,766	‐3.6%	194,214	202,511	197,536	‐1.7%	18.2%	22.8%	17.9%	0.3%
Hilton Garden Inn JFK	2,359,347	1,920,489	2,906,591	‐18.8%	220,557	555,605	673,810	‐67.3%	9.3%	28.9%	23.2%	‐13.8%
Hyatt House White Plains	2,339,650	1,601,883	1,952,804	19.8%	766,361	411,228	582,631	31.5%	32.8%	25.7%	29.8%	2.9%
Total NYC Metro	5,763,571	4,408,752	5,963,160	‐3.3%	1,181,132	1,169,344	1,453,977	‐18.8%	20.5%	26.5%	24.4%	‐3.9%
Rittenhouse Hotel	5,314,107	3,962,035	6,089,614	‐12.7%	(863,420)	(217,276)	218,563	‐495.0%		‐16.2%	‐5.5%	3.6%	‐19.8%
Westin Philadelphia(1)	2,838,290	3,887,019	5,876,598	‐51.7%	(129,642)	674,671	1,647,555	‐107.9%		‐4.6%	17.4%	28.0%	‐32.6%
Total Philadelphia	8,152,396	7,849,053	11,966,212	‐31.9%	(993,062)	457,395	1,866,117	‐153.2%	‐12.2%	5.8%	15.6%	‐27.8%
Cadillac Hotel & Beach Club	11,260,137	10,938,893	8,008,251	40.6%	4,903,357	5,472,081	3,166,499	54.9%	43.5%	50.0%	39.5%	4.0%
Ritz Carlton Coconut Grove	7,774,682	6,403,259	5,779,552	34.5%	2,235,235	1,872,147	1,052,044	112.5%	28.8%	29.2%	18.2%	10.5%
Winter Haven Hotel	1,669,817	1,649,561	1,584,305	5.4%	643,184	768,074	706,637	‐9.0%	38.5%	46.6%	44.6%	‐6.1%
Blue Moon Hotel	1,288,171	359,754	1,677,612	‐23.2%	265,808	(236,544)	648,720	‐59.0%	20.6%	‐65.8%	38.7%	‐18.0%
Parrot Key Hotel & Villas	6,022,185	7,542,043	4,463,052	34.9%	2,937,733	4,513,884	1,728,562	70.0%	48.8%	59.8%	38.7%	10.1%
Total South Florida	28,014,992	26,893,510	21,512,771	30.2%	10,985,317	12,389,642	7,302,462	50.4%	39.2%	46.1%	33.9%	5.3%
Ritz Carlton Georgetown	3,741,686	3,188,996	3,947,821	‐5.2%	(93,492)	(11,023)	(381,711)	‐75.5%		‐2.5%	‐0.3%	‐9.7%	7.2%
St. Gregory Hotel	2,356,699	1,090,261	1,747,426	34.9%	34,922	124,373	291,128	‐88.0%	1.5%	11.4%	16.7%	‐15.2%
Annapolis Waterfront Hotel	2,400,404	1,967,998	1,701,273	41.1%	723,927	504,512	386,151	87.5%	30.2%	25.6%	22.7%	7.5%
Total Washington DC	8,498,790	6,247,255	7,396,520	14.9%	665,357	617,861	295,567	125.1%	7.8%	9.9%	4.0%	3.8%
Ambrose	2,133,764	1,931,529	1,989,051	7.3%	998,617	942,506	850,411	17.4%	46.8%	48.8%	42.8%	4.0%
Sanctuary Beach Resort(1)	1,843,810	2,630,555	2,133,127	‐13.6%	7,681	640,587	150,139	‐94.9%	0.4%	24.4%	7.0%	‐6.6%
Total West Coast	3,977,574	4,562,085	4,122,178	‐3.5%	1,006,298	1,583,093	1,000,550	0.6%	25.3%	34.7%	24.3%	1.0%
Total Comparable Portfolio		$74,846,108	$64,620,404	$74,191,446	0.9%		$16,049,732	$17,729,576	$15,870,164	1.1%		21.4%	27.4%	21.4%	0.1%
(1) Property was undergoing renovation in Q1 2023

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