This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Hersha Hospitality Trust's CEO Presents At Bank Of America Merrill Lynch 2012 Global Real Estate Conference (Transcript)

Stocks in this article: HT

Hersha Hospitality Trust (HT)

Bank of America Merrill Lynch 2012 Global Real Estate Conference Call

September 13, 2012 2:10 pm ET


Jay H. Shah – President and Chief Executive Officer-Hersha Hospitality Trust

Michael D. Barnello – Chief Executive Officer-LaSalle Hotel Properties

Mark W. Brugger – Chief Executive Officer-DiamondRock Hospitality Co

Kenneth E. Cruse – Chief Executive Officer-Sunstone Hotel Investors, Inc.


Andrew G. Didora – Bank of America/Merrill Lynch

Shaun C. Kelley – Bank of America/Merrill Lynch


Andrew G. Didora – Bank of America/Merrill Lynch

Welcome to the second last panel of this year’s Real Estate Conference. Checking in or out with our four distinguished Lodging REIT CEO’s. For those of you who don’t know me, my name is Andrew Didora and I cover the Lodging REIT from the equity research side for Bank of America Merrill Lynch. And at the other end of the panel is Shaun Kelley, the Head of Bank of America Merrill Lynch’s equity research coverage in the Gaming and Lodging space.

From the company today, we have CEO, Mark Brugger of DiamondRock Hospitality. Jay Shah, CEO of Hersha Hospitality; Michael Barnello, CEO of LaSalle Hotel Properties, and Ken Cruse, the CEO of Sunstone Hotel.

So gentlemen not certainly an interesting time in the hotel space, and Ken, I think you mentioned this to me in one of our most recent conversations that the industry is now in its the 30 th month of the RevPAR recovery, ever since turning positive in the beginning of March of 2010. The last cycle we showed a RevPAR recovery that’s about 60 months average cycles, of the last 70 months or more. So ever since turning positive this cycle, overall RevPAR has been pretty steady in the 7% to 9% range. Ken, just curious, what you attribute this steadiness to?

Kenneth E. Cruse

1 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs