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Hersha earnings up

Harrisburg-based Hersha Hospitality Trust last week reported net income of $7.8 million, which is applicable to preferred and common shareholders, for the second quarter of 2007.

Harrisburg-based Hersha Hospitality Trust last week reported net income of $7.8 million, which is applicable to preferred and common shareholders, for the second quarter of 2007. This is up from net income of $3.4 million that the company reported in the second quarter of 2006.

The real estate investment trust also reported that hotel operating revenues increased 66 percent to $63.5 million for the second quarter of 2007. This is up from $38.2 million in the same period last year. The increase was driven primarily by hotel acquisitions and growth in room revenues, according to the company.

Hersha Hospitality shares trade under the ticker symbol HT on the American Stock and Options Exchange.

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