Skip to content

Search

Latest Stories

Hersha, KSL Capital finalize acquisition

The REIT has now gone private, delisted from the NYSE

Hersha, KSL Capital finalize acquisition

HERSHA HOSPITALITY TRUST and KSL Capital Partners, LLC, have finalized KSL’s acquisition of the REIT for approximately $1.4 billion. As of Nov. 28, Hersha became a private company and was delisted from the New York Stock Exchange.

The companies entered a definitive merger agreement on Aug. 27 under which affiliates of KSL acquired all of the outstanding common shares of Hersha for $10 per share in an all-cash transaction. The companies filed paperwork with the Securities and Exchange Commission on Nov. 28 to make it official.


The independent transaction committee of Hersha’s board of trustees recommended the merger and the board unanimously approved it, according to Hersha. A special meeting of shareholders was held Nov. 8 to give final approval to the deal.

The purchase price represents a premium of approximately 60 percent over Hersha’s closing share price on Aug. 25, the last full trading day prior to the initial announcement, according to Hersha. Hersha shareholders will receive $10 in cash for each common share they own, and holders of Hersha’s 6.875 percent Series C Cumulative Redeemable Preferred Shares, 6.50 percent Series D Cumulative Redeemable Preferred Shares and 6.50 percent Series E Cumulative Redeemable Preferred Shares will receive $25 in cash, plus any accrued and unpaid dividends to which they are entitled, for each preferred share they own.

“This transaction provides our shareholders with immediate and certain value at a substantial premium to our public valuation,” said Jay Shah, Hersha’s executive chairman. “Following a multi-year comprehensive review by the independent transaction committee of Hersha’s board of trustees, the board and management team are confident this step will allow us to deliver value for our shareholders while refocusing on growing the business over a longer period of time.”

Hersha owns and operates luxury and lifestyle hotels in coastal gateway and resort markets. Its portfolio includes 25 hotels with 3,811 rooms in New York, Washington D.C., Boston, Philadelphia, South Florida and California.

“We are proud of the work our team has done to build on Hersha’s culture and capabilities and make the company what it is today,” Neil Shah, Hersha’s CEO, said. “This transaction is a result of our deliberate actions to focus on key gateway markets and lifestyle and leisure properties, as well as our work to create a concentrated portfolio consisting of some of the highest quality hotels in their respective markets.”

Hasu Shah, Hersha’s chairman emeritus, founded the company in 1984 with the purchase of a single hotel in Harrisburg, Pennsylvania. In 1998, the company went public as a REIT.

More for you

Global Hotel Rates to Stay Stable in 2026

Report: Global hotel rates steady despite uncertainty

Summary:

  • Global hotel rates are expected to remain stable through 2026, according to AMEX GBT.
  • New York is a key business travel and meetings destination.
  • India is likely to be a focus for travel programs during 2026 negotiations.

GLOBAL HOTEL RATES are expected to remain stable through 2026, as geopolitical tensions and potential U.S. tariffs limit demand and constrain price increases, according to American Express Global Business Travel. New York remains a popular destination for business travel and meetings.

AMEX GBT’s Hotel Monitor 2026, an annual forecast of global hotel rates in business travel destinations, identified India as a key market, with hotel rates and occupancy set to rise.

Keep ReadingShow less
Trump reviewing 55 million us visas
Getty Images

Trump reviewing 55 million visas

Summary:

  • The Trump administration says it is reviewing more than 55 million visa holders.
  • Reviews cover a wide range of visas for law enforcement and overstay violations.
  • The administration also suspended worker visas for foreign commercial truck drivers.

THE TRUMP ADMINISTRATION is reviewing more than 55 million people who hold valid U.S. visas for potential violations. It is expanding a policy of “continuous vetting” that could result in revocation and deportation.

Keep ReadingShow less
Peachtree Funds Rio Las Vegas Renovations | $176M CPACE Loan
Photo credit: Hyatt Hotels Corp.

Peachtree originates retroactive CPACE loan for Rio Vegas

Summary:

  • Peachtree Group originated a $176.5 million retroactive CPACE loan for a Las Vegas property.
  • The deal closed in under 60 days and ranks among the largest CPACE financings in the U.S.
  • The company promotes retroactive CPACE funding for commercial real estate development.

PEACHTREE GROUP ORIGINATED a $176.5 million retroactive Commercial Property Assessed Clean Energy loan for Dreamscape Cos.’s Rio Hotel & Casino in Las Vegas. The deal, completed in under 60 days, is its largest credit transaction and one of the largest CPACE financings in the U.S.

Keep ReadingShow less
Spark Acquires Home2 Suites Wayne, New Jersey
Photo Credit: Hunter Hotels

Spark acquires Wayne, N.J., Home2 Suites

Summary:

  • Spark acquired the 120-key Home2 Suites by Hilton Wayne in Wayne, New Jersey.
  • Hunter Hotel Advisors facilitated the transaction with DC Hospitality Group affiliates.
  • The 2020-built hotel is near William Paterson University and less than 20 miles from Manhattan.

SPARK GHC RECENTLY acquired the 120-key Home2 Suites by Hilton Wayne in Wayne, New Jersey, from affiliates of DC Hospitality Group. Hunter Hotel Advisors facilitated the deal for an undisclosed amount.

Keep ReadingShow less
Global hotel construction pipeline reaches record 15,871 projects in Q2 2025, with U.S. and Dallas leading growth
Photo Credit: iStock

Report: Global pipeline hits 15,871 projects

Summary:

  • Global pipeline hit a record 15,871 projects with 2.4 million rooms in Q2.
  • The U.S. leads with 6,280 projects; Dallas tops cities with 199.
  • Nearly 2,900 hotels are expected to open worldwide by the end of 2025.

THE GLOBAL HOTEL pipeline reached 15,871 projects, up 3 percent year-over-year, and 2,436,225 rooms, up 2 percent, according to Lodging Econometrics. Most were upper midscale and upscale, LE reported.

Keep ReadingShow less