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Hersha Hospitality Trust to Sell $185 Million Portfolio

Hersha Hospitality Trust to Sell $185 Million Portfolio

PHILADELPHIA—Hersha Hospitality Trust, owner of upscale hotels in urban gateway markets, announced the company has entered into a definitive agreement to sell a 5-hotel suburban portfolio totaling 757 rooms for $185 million, or $244,000 per key. “The sale of this ...

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R.D. Olson’s Development Fundamentals

R.D. Olson’s Development Fundamentals

LODGING recently sat down with Bob Olson, founder and CEO of R.D. Olson Development, to discuss his company’s bold investments. What is R.D. Olson’s overall growth strategy? First of all, we look for markets that have multiple demand generators and ...

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U.S. Hoteliers Operate in Low Inflation Environment

U.S. Hoteliers Operate in Low Inflation Environment

ATLANTA—The magnitude of change in the major industry indicators is not pleasing U.S. hotel owners and operators. New development activity continues to accelerate, while growth in average daily room rates (ADR) has decelerated. The sluggish start during the first half ...

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Hunter Sells Hilton Garden Inn Fredericksburg

Hunter Sells Hilton Garden Inn Fredericksburg

ATLANTA—Hunter Hotel Advisors have announced that they acted as exclusive agents in the sale of the 148-room Hilton Garden Inn Fredericksburg. Excel Hotel Group, based in Virginia, purchased the 5-story hotel for an undisclosed amount from a New York private ...

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Apple Hospitality Completes Merger with Apple Ten

Apple Hospitality Completes Merger with Apple Ten

RICHMOND, Va.—Apple Hospitality REIT, Inc. has announced the completion of its previously announced merger with Apple REIT Ten. The combination with Apple Ten’s highly complementary portfolio of 56 hotels creates one of the largest upscale, select service lodging REITs in ...

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Pace of New Bookings Continues to Decline

Pace of New Bookings Continues to Decline

NEW YORK—Heading into the latter summer months, the pace of new bookings continues to decline, with new August reservation commitments falling -2.8 percent. However, committed occupancy and average daily rates (ADR) for the fourth quarter of 2016 are showing signs ...

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