Hersha Hospitality Trust

Hersha Hospitality Trust is a real estate investment trust (REIT) that owns and operates upscale hotels in urban gateway and regional resort markets. The company's portfolio includes 18 hotels totaling 2,963 rooms located in cities such as New York, Washington, D.C., Boston, Philadelphia, South Florida, and California. Hersha focuses on high RevPAR and EBITDA growth hotels in innovation-driven gateway markets and high barrier resort locations. The company emphasizes local knowledge and operational advantages through its segmented local clusters, aiming to drive outperformance in each of its core markets. Hersha's properties have been recognized for excellence, with several receiving accolades such as the Condé Nast Traveler Readers' Choice Award in 2022 and 2023. In 2023, Hersha was acquired by KSL Capital Partners, a private equity firm, for approximately $1.4 billion, marking a significant milestone in the company's history.

Founded in 1984 by Hasu P. Shah, Hersha Hospitality Trust has grown from a single hotel in Harrisburg, Pennsylvania, to a prominent player in the hospitality industry. The company's strategic focus on high-quality, upscale, mid-scale, and extended-stay hotels in metropolitan markets with high barriers to entry has positioned it favorably in the market. Hersha's operational strategy includes rigorous and sustainable asset management practices, aiming to deliver strong shareholder value and high cash flow for dividend distribution to investors. The company's commitment to excellence is evident in its portfolio, which features properties like The Envoy in Boston Seaport, The Rittenhouse Hotel in Philadelphia, and The Cadillac Hotel & Beach Club in Miami Beach, all recognized in the Condé Nast Traveler Readers' Choice Awards.

Hersha's acquisition by KSL Capital Partners in 2023 has provided the company with additional resources and strategic direction. This acquisition is expected to enhance Hersha's ability to expand its portfolio and strengthen its position in the hospitality sector. The company's focus on high-quality assets in prime locations continues to be a key component of its strategy, ensuring sustained growth and profitability in the competitive hospitality market.