The designs presented in this volume offer a wide and varied vision of the latest trends in bar and restaurant design, selected from the most cutting-edge, wining-and-dining hotspots in the world. With ...
REIT acquires Wall Street locale for $34.8 million
Hersha Hospitality Trust has bought the Holiday Inn at Wall Street in New York City for $34.8 million, or $308,000 per key. The prior owner converted the 113-room hotel, which also includes a lobby-level restaurant that is leased to a third party, to a Holiday Inn in April 2010.
“This acquisition is another step in growing our New York City portfolio with an immediately accretive asset that has a growth rate higher than our existing portfolio,” said Hersha ceo Jay Shah. “The hotel, which is located in the heart of New York's financial district across the street from the Federal Reserve and three blocks from the New York Stock Exchange, was opened only a year ago and was previously operated as an independent hotel.”
Hersha Hospitality Trust is a self-advised real estate investment trust that owns interests in 77 hotels. The company focuses on upscale, mid-scale and extended stay hotels in major metropolitan markets.
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