PHILADELPHIA, PA – Hersha Hospitality Administration has added 25 accommodations, totaling 4,000 rooms, to its portfolio in just the past 12 months.
The company’s portfolio at the moment includes 140 motels, operated on behalf of additional than 20 institutional and extensive-time period homeowners. The portfolio consists of equal elements way of living and unbiased motels, resort and full-service inns and urban and select-assistance accommodations.
The organization moreover declared that it properly retained all of its existing administration contracts in 2020.
Inside the earlier calendar year, Hersha Hospitality Management introduced and/or opened three new luxurious or way of life attributes for its entrepreneurs, which includes The Whitney Lodge in Boston, MA, the Thesis Hotel in Miami, FL and the Plaza Lodge at Pioneer Park in El Paso, TX. Inside of the earlier two quarters, the corporation has done seven sponsored investments.
“Our new and marked development is not only geographically numerous, but also signifies an enlargement of our client base to include things like additional than 20 institutional and prolonged-phrase proprietors,” states David McCaslin, chief enhancement officer at Hersha Hospitality Management.
McCaslin provides, “We actually have concentrated on finding experiential properties that will stand the take a look at of time, these kinds of as Lodge Nia, an Autograph Assortment Resort, in Menlo Park, CA., Sea Crest Beach Vacation resort in Cape Cod and Islander Beach Vacation resort in the Florida Keys.”