Hersha Hospitality Trust Sells Courtyard San Diego for $64.5 Million

Hersha Hospitality Trust | January 5, 2021

PHILADELPHIA, Jan. 05, 2021-- Hersha Hospitality Trust (NYSE: HT) (“Hersha” or the “Company”), owner of high-quality hotels in urban gateway markets and regional resort destinations, today announced it entered into a binding sales agreement on the 245-room Courtyard San Diego for $64.5 million resulting in a net book gain approximating $5.4 million. The Courtyard San Diego has no property-level debt and will result in net proceeds of $64.5 million which will be utilized to repay borrowings under the Company’s credit facilities. “After a highly competitive sales process, we are pleased to announce the sale of the Courtyard San Die...