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Hersha Adds to Hotel-Management Portfolio

PHILADELPHIA-The firm will co-develop one facility and is managing three others, in New Jersey, New York and Pennsylvania.

By Ian Ritter | Updated on January 22, 2010

PHILADELPHIA-Hersha Hospitality Management is adding three Northeast hotel properties to its third-party management portfolio so far this year and is investing in and developing another. The move is part of a strategy by the locally based firm to beef up its third-party and joint-venture business.

The development asset is an Element by Westin in Ewing, NJ, near Princeton, NJ. Hersha is partnering with American Properties Realty to construct the 127-room facility, which will be the first in the state and seventh in the chain overall. Elements feature eco-friendly rooms and other similar amenities.

Hersha was selected to take over the management duties at an existing hotel in Manhattan’s Financial District into Holiday Inn-Wall Street. This is the 12th hotel the company will have under management in New York City.

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