Hersha Hospitality Trust Announces the Disposition of Mature Hotels
Hersha Hospitality Trust Class A Common Shares of Beneficial Interest (HT)
Last hersha hospitality trust class a common shares of beneficial interest earnings: 2/24 04:15 pm
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Source: GlobeNewswire
- Sale of Miami & NYC Hotels at Attractive EBITDA Multiple -- Sale of South Boston Joint Venture Interest - - Proceeds to be Utilized to Reduce Leverage - PHILADELPHIA, Feb. 24, 2020 (GLOBE NEWSWIRE) -- Hersha Hospitality Trust (NYSE: HT) (“Hersha” or the “Company”), owner of high-quality upscale, luxury and lifestyle hotels in urban gateway markets and resort destinations, today announced it has entered into binding sales contracts for two consolidated hotels and two unconsolidated joint venture assets for a total asset value of $144.0 million which will result in $97.0 million of debt reduction. These agreements include the Blue Moon Hotel on Miami Beach for $30.0 million, the Duane Street Hotel in New York City for $20.0 million, and the exit of the 50% ownership in two South Boston hotels: Courtyard South Boston and Holiday Inn Express South Boston for $94.0 million. “The anticipated sales of the Blue Moon Hotel & Duane Street Hotel at very attractive pricing highlights the in
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