Hersha Hospitality Trust (NYSE:HT) announced it will sell seven limited-service hotels totaling 1,087 rooms to a joint venture established with Chinese investment company Cindat Capital Management Ltd. for $571.4 million, or $526,000 per key.
In the transaction expected to close next month, Cindat would hold a 70% equity interest while Hersha would retain a 30% interest in the hotels operating under the Holiday Inn, Hampton Inn and Candlewood…
Source: Co Star Commercial Real Estate
