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Hersha Hospitality inks $571.4M JV agreement

Chinese investment firm Cindat Capital to own 70 percent of seven Manhattan hotels Friday, February 5, 2016 – HERSHA HOSPITALITY TRUST has long loved New York, and it is finally paying off. The hotel REIT led by Asian American hoteliers has cut a $571.4 million sales agreement in connection with a new joint venture with Cindat Capital Management Ltd., a Chinese investment firm. Its U.S. office ...

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New La Quinta Inn & Suites opens in Niagara Falls

Friday, January 29, 2016 – A NEW LA QUINTA Inn & Suites opened this month in Niagara Falls after the developer Paresh Patel received $640,533in mortgage property and tax abatements from the local government. Patel owns Niagara Lodging Inc. and began to seek approval two years ago for his project from the local industrial development authority for the site at 6225 Niagara Falls Blvd. and near the ...

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HP Rama receives Lifetime Achievement Award

Thursday, January 28, 2016 – HP RAMA HAS spent the past several decades helping to build a global hotel company and tearing down the walls that hindered Indian Americans from progressing in the U.S. hotel industry. Today, Asian Indians own more than half of all the hotels in America and have become a business force that earns the respect and admiration of those in government and in the hospitality ...

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Tru believers

Asian American hoteliers take the lead in helping Hilton develop new midscale brand   Thursday, January 28, 2016 – THE AMBITIOUS DEVELOPMENT plan for Hilton Worldwide’s new midscale brand Tru hit the ground running long before it was unveiled Monday at the Americas Lodging Investment Summit in Los Angeles. The pipeline of 102 hotels is for the most part because of strong ...

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