SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
April 5, 2003
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Date of report (Date of Earliest Event Reported)
HERSHA HOSPITALITY TRUST
(Exact name of Registrant as specified in Its Charter)
MARYLAND 005-55249 251811499
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(State or other jurisdiction (Commission File Number) (I.R.S. Employer
of incorporation) Identification No.)
148 SHERATON DRIVE, BOX A, NEW CUMBERLAND, PENNSYLVANIA 17070
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(Address of principal executive offices and zip code)
(717) 770-2405
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Registrant's telephone number, including area code
ITEM 4. Changes to Registrant's Certifying Accountants.
On April 5, 2003, Hersha Hospitality Trust (the "Company") determined not
to renew the appointment of its independent accountants, Moore Stephens, P.C.
("Moore Stephens"), for the 2003 fiscal year, and appointed Reznick Fedder &
Silverman, CPAs, PC ("Reznick Fedder & Silverman") as its new independent
accountants for the 2003 fiscal year, effective immediately. The determination
not to renew the appointment of Moore Stephens and to retain Reznick Fedder &
Silverman was approved by the Company's Board of Trustees upon the
recommendation of its Audit Committee.
During the Company's two most recent fiscal years ended December 31, 2002
and 2001, and the subsequent interim period through April 5, 2003, there were no
disagreements between the Company and Moore Stephens on any matter of accounting
principles or practices, financial statement disclosure, or auditing scope or
procedure, which disagreements if not resolved to Moore Stephens's satisfaction
would have caused them to make reference to the subject matter of the
disagreement in connection with their reports.
None of the reportable events described under Item 304(a)(1)(v) of
Regulation S-K occurred within the Company's two most recent fiscal years and
the subsequent interim period through April 5, 2003.
The audit reports of Moore Stephens on the consolidated financial
statements of the Company and its subsidiaries as of and for the fiscal years
ended December 31, 2002 and 2001 did not contain any adverse opinion or
disclaimer of opinion, nor were they qualified or modified as to uncertainty,
audit scope, or accounting principles. A letter from Moore Stephens is attached
as Exhibit 16.1.
During the Company's two most recent fiscal years ended December 31, 2002
and 2001, and the subsequent interim period through April 5, 2003, the Company
did not consult with Reznick Fedder & Silverman regarding any of the matters or
events set forth in Item 304(a)(2)(i) and (ii) of Regulation S-K.
ITEM 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(c) Exhibits
Number Exhibit
16.1 Letter of Moore Stephens, P.C. regarding change in certifying
accountant
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
HERSHA HOSPITALITY TRUST
Date: April 7, 2003 By: /s/ Ashish R. Parikh
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Ashish R. Parikh
Chief Financial Officer
LIST OF EXHIBITS
16.1 Letter of Moore Stephens, P.C. regarding change in certifying
accountant.