Hersha Hospitality Trust Sells Hampton Inn Financial District for $32.4 Million

Hersha Hospitality Trust | March 14, 2018

PHILADELPHIA, March 14, 2018 -- Hersha Hospitality Trust (NYSE:HT), "Hersha" or the "Company"), owner of high quality hotels in urban gateway markets and coastal destinations, today announced the sale of the 81-room Hampton Inn Financial District for $32.4 million. "This transaction highlights Hersha's ability to successfully execute accretive dispositions and upgrade the portfolio with higher growth hotels in our core markets. While we remain bullish on the Manhattan lodging market, this was an opportunistic sale, representing a trailing twelve-month economic capitalization rate of 4.4% and a hotel EBITDA multiple of 19.8x. Our capital...