Starwood Capital will buy 18 hotels from REIT for $155 million

08/18/2011 |

Hersha Hospitality Trust has agreed to sell 18 hotels to investment firm Starwood Capital for $155 million. The deal is part of Hersha's plan to focus its portfolio on high-barrier-to-entry markets and shed most of its noncore assets, said Ashish R. Parikh, Hersha's chief financial officer.

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