Hersha Hospitality Management Expands Hotel Portfolio
The company has added 25 hotels, encompassing 4,000 rooms, to its national portfolio within the past year.
PHILADELPHIA, PA – Hersha Hospitality Management has added 25 hotels, totaling 4,000 rooms, to its portfolio within the past year.
The company’s portfolio currently comprises 140 hotels, operated on behalf of more than 20 institutional and long-term owners. The portfolio consists of equal parts lifestyle and independent hotels, resort and full-service hotels and urban and select-service hotels.
The company additionally announced that it successfully retained all of its existing management contracts in 2020.
Within the past year, Hersha Hospitality Management launched and/or opened three new luxury or lifestyle properties for its owners, including The Whitney Hotel in Boston, MA, the Thesis Hotel in Miami, FL and the Plaza Hotel at Pioneer Park in El Paso, TX. Within the past two quarters, the company has completed seven sponsored investments.
“Our recent and marked growth is not only geographically diverse, but also represents an expansion of our client base to include more than 20 institutional and long-term owners,” states David McCaslin, chief development officer at Hersha Hospitality Management.
McCaslin adds, “We really have focused on finding experiential properties that will stand the test of time, such as Hotel Nia, an Autograph Collection Hotel, in Menlo Park, CA., Sea Crest Beach Resort in Cape Cod and Islander Beach Resort in the Florida Keys.”