Hersha Hospitality Trust Closes Manhattan 7-Hotel Joint-Venture with Cindat for $526,000 Per Key

(Hotels News Resource)

Hersha Hospitality Trust (NYSE: HT) announced the Company has closed on the joint venture for seven of the Company’s premium limited service hotels in Manhattan with Cindat Capital Management Limited for a total purchase price, including closing and capital improvement costs, of $571.4 million, or $526,000 per key.  [Full Article]