Hersha Hospitality picks up five-hotel portfolio for $48.9M

05/6/2005 | Commercial Property Executive

Hotel REIT Hersha Hospitality Trust is in a deal to acquire a five-hotel portfolio from an undisclosed seller for $48.9 million in cash. The hotels, located in Philadelphia and Wilmington, Del., add up to 480 rooms and include the 155-suite Holiday Inn Express & Suites King of Prussia, in King of Prussia, Pa., and the 88-room Holiday Inn Express in Bucks County, Pa.

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