The Real Deal Miami

Hersha buying Miami beachfront hotel

November 09, 2011 11:15AM

Hersha Hospitality Trust is buying the Courtyard Miami Beach Oceanfront
hotel for $95 million. “With minimal new supply, multiple transient
demand generators and the continued strength of international travel, we
anticipate strong growth for this hotel and this market for the
foreseeable future,” said Hersha CEO Jay Shah. The 263-unit hotel is the
company’s first purchase in the city, and the only remaining Marriott
hotel in Miami Beach. [WSJ]