>Hersha Hospitality Trust said it closed on the purchase of three hotels in New York City, paying $165 million for the properties.
Hersha (NYSE:HT), which has offices in Philadelphia, acquired the Hampton Inn, with 184 rooms; Candlewood Suites, with 188 rooms; and Holiday Inn Express Times Square, with 210 rooms. All three hotels are in the Times Square area. All are managed by Hersha Hospitality Management LP.
For the sellers, the purchase price included a limited-partnership interest in Hersha