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Hersha Hospitality Trust Closes Sale of Hotel 373

Hersha Hospitality Trust Closes Sale of Hotel 373

PHILADELPHIA—Hersha Hospitality Trust announced that the company has closed on the previously-announced sale of Hotel 373 in midtown Manhattan for $37 million, or approximately $529,000 per key. “The successful closing of the sale of Hotel 373 at attractive pricing highlights ...

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Starwood Hotels Sells Aloft Tucson University

Starwood Hotels Sells Aloft Tucson University

STAMFORD, Conn.—Starwood Hotels and Resorts Worldwide Inc. has completed the sale of Aloft Tucson University to Lightstone Value Plus Real Estate Investment Trust II Inc., a public, non-traded REIT sponsored by The Lightstone Group, a privately held real estate company, ...

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RLJ Lodging Trust Sells Additional Hotel for $14.1 Million

RLJ Lodging Trust Sells Additional Hotel for $14.1 Million

BETHESDA, Md.—RLJ Lodging Trust has sold an additional non-strategic hotel, the 182-room Hilton Mystic in Mystic, Conn., for approximately $14.1 million or $77,200 per key. The sale price represents approximately a 7.4 percent capitalization rate on the hotel’s projected 2014 ...

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Red Lion Hotels Selling Property in Pendleton, Oregon

SPOKANE, Wash.—Red Lion Hotels Corporation announced the company has listed for sale the Red Lion Hotel Pendleton in Oregon. “We have successfully sold three properties that, in turn, have resulted in three franchise agreements with the new owners,” said Jon ...

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