Hersha Hospitality has acquired two Marriotts -- the 120-room Residence Inn by Marriott in Greenbelt, Md., and a 130-room Courtyard by Marriott near Princeton, N.J. -- for about $40 million. The purchases are part of the REIT's plan to double its portfolio, which totals 30 hotels located between Boston and Washington, D.C.

Related Summaries