Hersha Hospitality Trust


Hersha, headquartered in Philadelphia, Pennsylvania, owns 18 hotels comprising 2,963 rooms. It is owned by KSL Capital Partners, a private equity firm. Notable hotels owned by the company are the St. Gregory Hotel and the The Ritz-Carlton, Georgetown, both in Washington, DC.
WWW hersha.com

History

In January 1979, Indian-American immigrant Hasu P. Shah and his wife, Hersha, after whom the company was named, bought an 11-room motel near Harrisburg, Pennsylvania. Five years later, Hasu Shah formed the company and purchased a hotel in Harrisburg, Pennsylvania.
In January 1999, a year after being organized into a Maryland real estate investment trust, it became a public company via an initial public offering.
In May 2006, the firm acquired four Boston-area hotels for $44 million.
In June 2015, the company acquired the St. Gregory Hotel in Washington, D.C. for $57 million. The company acquired The Ritz-Carlton, Georgetown for $49.9 million in January 2016.
Hersha sold seven of its Manhattan hotels in February 2016 to a joint venture with Chinese company Cindat Capital Management.
In November 2023, private equity firm KSL Capital Partners acquired Hersha for $1.4 billion.