Hersha Hospitality Trust sells D.C. hotels to Blackstone affiliates

Hersha Hospitality Trust has sold two hotels in the Washington, D.C. area to Blackstone affiliates for a total of $112.7 million. “With the sale of these non-core properties, we are able to continue our transformation by deepening our focus on our luxury and lifestyle and New York portfolios — both demonstrating resiliency coming out of the pandemic,” says Hersha CEO Jay Shah.