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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.