REIT and franchise hotel owner Hersha Hospitality Trust has signed a
deal with Waterford Hospitality Group to form Mystic Partners with the
goal of expanding its properties in the New England properties market. The $250 million
joint venture will have a portfolio that includes nine New England
Marriott- and Hilton-branded hotels, and is "very much fueled by the
robustness in the market currently," a Hersha executive said.