Reported pro forma revenue per available room (RevPAR) for the fourth quarter of $83.19, an increase of 3.5 percent from the comparable period in 2009, assuming the company owned all 13 of its hotels for the entire fourth quarter.
LE can present every acquisition opportunity available, in any country worldwide, in a comprehensive, easy-to-use desktop application
Hersha Hospitality Trust (NYSE: HT) announced that it has purchased the Holiday Inn at Wall Street in New York City for approximately $34.8 million, or $308,000 per key, including closing costs and fees.
Interstate Hotels & Resorts announced that it has formed a strategic alliance with IHI Ltd, an affiliate of Harte Holdings, to operate and selectively invest in hotels in Europe. Interstate already manages six hotels for affiliates of Harte Holdings in the U.S. and Europe, four of which are owned by a joint venture between the two organizations. The new alliance will expand Interstate’s third-party hotel management platform throughout the EU.