Hersha Snaps Up Miami Marriott Hotel For $95M

Law360, New York (November 9, 2011, 1:57 PM EST) -- Hersha Hospitality Trust, a real estate investment trust, is expanding its portfolio of hotels with the $95 million acquisition from Economos Properties of a Marriott International Inc. hotel in Miami Beach, Fla., Hersha announced Wednesday.

Hersha entered a contract to buy the recently restored 263-room Courtyard Miami Beach Oceanfront hotel and an adjacent stretch of beach from Economos, giving it the keys to the only franchised Marriott hotel in the Miami Beach market, according to the statement.

“We are excited to expand our presence into one...
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