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Hersha Hospitality Trust Message Board

  • jgtaylo77 jgtaylo77 Feb 24, 2011 2:11 AM Flag

    Bogus Revpar Growth

    Just for the record, I owned HT until a few months ago. I have no shares or shorts at present. I think the great RevPar growth mentioned in the earnings "misrepresents" the actual circumstance that exists. The 58 or so hotels had "5.7% RevPar Growth". I have no argument here. If you take the new hotels, add their RevPar to the 58 hotel RevPar and divide by the total number of rooms and get a new RevPar number for all hotels, then compare that to the 58 RevPar and call it RevPar growth, then you should be required to change your earnings report.
    I can't believe that was done here. Baaaad Accounting and Baaad statistics. One should compare last years RevPar for new and old (weighted by rooms) with this years new and old RevPar weighted by rooms and then get a "RevPar Growth" number. The numbers here are Madoffian.
    Its not a good sign to have bad math on the earnings report.
    I'll hold off on the HT investment for a while.

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