Hersha Hospitality Trust to buy hotels in Calif. and Fla.

Hersha Hospitality Trust has agreed to acquire the 245-room Courtyard San Diego Downtown in California and the 140-room Residence Inn Coconut Grove in Miami. Hersha will use cash on hand and borrowings from its credit facility to pay the total $93 million purchase price for the two properties. Read the American City Business Journals story here.

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