Amends Bank Credit Facility To Access $100 Million

Hersha Hospitality Trust

06/04/2020 13:25

April 6 (Reuters) - Hersha Hospitality Trust  HT.N :
    * HERSHA HOSPITALITY TRUST - AMENDS BANK CREDIT FACILITY TO
ACCESS
$100 MILLION
    * HERSHA HOSPITALITY TRUST - OBTAINS FULL COVENANT WAIVER
THROUGH
MARCH 31, 2021
    * HERSHA HOSPITALITY TRUST - NO CHANGES TO INTEREST RATE ON
AMENDED CREDIT FACILITY
    * HERSHA HOSPITALITY TRUST - CORPORATE LEVEL COST
CONTAINMENT
RESULTING IN MORE THAN 25% SAVINGS IN SG&A EXPENSES
    * HERSHA HOSPITALITY TRUST - SUSPENDED OPERATIONS AT 19 OF
COMPANY'S 48 HOTELS
    * HERSHA HOSPITALITY - 29 HOTELS THAT REMAIN OPEN ARE
OPERATING
WITH MINIMAL STAFF ONSITE, RESULTING IN A REDUCTION OF
ON-PROPERTY LABOR ABOUT 80%

Source text for Eikon:  ID:nGNX1kvjnl 
Further company coverage:  HT.N 

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