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Hersha hotel sale

Hersha Hospitality Trust has entered into a definitive agreement to sell a five-hotel suburban portfolio made up of 757 rooms for US$185 million. The aim behind the sale is to improve the company's RevPAR as their trailing 12-month RevPAR was 34.1% below the average of the remaining portfolio. Being suburban properties, the trade will see the company focus more on urban gateways and destination markets.

The above snippet is the first part of an article sent to subscribers in Travel Daily's issue from 14 Sep 16

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