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Hersha reports increased Q4, 2007 earnings

Harrisburg-based Hersha Hospitality Trust reported net income of $5.8 million, which is applicable to preferred and common shareholders, for the fourth quarter of 2007. This is up from net loss of $174,000 that the company reported in the fourth quarter of 2006.

Harrisburg-based Hersha Hospitality Trust reported net income of $5.8 million, which is applicable to preferred and common shareholders, for the fourth quarter of 2007. This is up from net loss of $174,000 that the company reported in the fourth quarter of 2006.

The real estate investment trust also reported that hotel-operating revenues increased to $57.5 million for the fourth quarter. This is up from $37.6 million in the same period last year.

Hersha reported net income of $17.8 million, which is applicable to preferred and common shareholders, for 2007. This is up from $5.1 million that the company reported for 2006.

The company also reported that hotel-operating revenues increased to $229.5 million for 2007. This is up from $135.3 million in the same period last year.

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

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