Hersha jumps on decision to sell two hotels for $125 mln

Hersha Hospitality Trust

12/09/2022 15:34

** Shares of luxury hotel chain Hersha Hospitality Trust
 HT.N  up 1.3% at $10.55, highest in over two weeks
    ** Hersha to sell two of its west coast hotels, Milo Santa
Barbara and Pan Pacific Seattle, for $125 mln
    ** Proceeds to be used mainly to pay about $45 mln of debt
    ** 6 of 12 brokerages rate stock "hold", 4 "strong buy" and
2 "sell"; their median PT is $11.50
    ** At last close, shares up 13.5% YTD

 (Reporting by Anirban Chakroborti in Bengaluru)
 ((Anirban.Chakroborti@thomsonreuters.com))