Hersha Hospitality Trust is ramping up its exposure to New York's hotel sector with several acquisitions. It has spent about $200 million since the beginning of the year acquiring 18 hotels. Its latest deal is the 113-key Holiday Inn at Wall Street for $34.8 million. "We feel that New York is very attractive because of its early recovery dynamics and the long-term strength of the market," says Jay Shah, Hersha's CEO.

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