Hersha takes a cautious approach as assets hit market

08/6/2010 | GlobeSt.com

Some hotel assets are hitting the market, but for at least one hotel investment firm, Hersha Hospitality Trust, prices aren't low enough yet. "There's absolutely been a flurry of hotel-investment opportunities since the spring," said Neil Shah, Hersha president and chief operating officer. "Pricing has been tough, but there seem to be multiple bidders," he said. CEO Jay Shah said the company is taking a cautious approach. "We remain very selective in pursuing further acquisitions," he said.

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