Hersha is Selling for Profits 
The news from Hersha Hospitality on Thursday that they sold two hotel properties for a net benefit to their balance sheet is impressive. The company sold property for net proceeds of $1.75 million and the other sale was a 55% interest in a property netting $2.5 million.
So for all those investors negative on hotels, I say, “wow that hurts.” To me it seems like hotel REITs are indeed able to squeeze some money from their limited resources to reinforce the balance sheet.
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Aug.02.2009. 01:03
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