Hersha Hospitality Management Expands Lodge Portfolio

PHILADELPHIA, PA – Hersha Hospitality Management has added 25 lodges, totaling 4,000 rooms, to its portfolio inside the previous 12 months.

The company’s portfolio currently comprises 140 hotels, operated on behalf of additional than 20 institutional and long-expression entrepreneurs. The portfolio consists of equal areas way of living and unbiased resorts, vacation resort and total-assistance lodges and city and choose-support motels.

The company moreover introduced that it effectively retained all of its present management contracts in 2020 by deploying hyper-centered methods with homeowners to preserve funds, travel gross sales and maintain outsized value efficiencies through its submarkets.

Within the earlier calendar year, Hersha Hospitality Administration introduced and/or opened 3 new luxurious or life style qualities for its house owners, such as The Whitney Resort in Boston, MA, the Thesis Hotel in Miami, FL and the Plaza Lodge at Pioneer Park in El Paso, TX. In the previous two quarters, the enterprise has finished 7 sponsored investments.

“Our recent and marked growth is not only geographically various, but also represents an growth of our shopper base to include additional than 20 institutional and extended-term homeowners,” states David McCaslin, chief growth officer at Hersha Hospitality Management. “These consumers are ever more recognizing our skills and leadership in their submarkets, with all important models, and unquestionably our impartial resort capabilities. For illustration, our advancement contains new hotels ranging from Silicon Valley to New England to Florida.”

McCaslin provides, “We seriously have targeted on acquiring experiential houses that will stand the test of time, this kind of as Lodge Nia, an Autograph Assortment Resort, in Menlo Park, CA., Sea Crest Beach Vacation resort in Cape Cod and Islander Beach front Vacation resort in the Florida Keys.”

“Our senior leaders have labored together by means of lots of prior cycles and understood how to adapt incredibly immediately to the lots of worries and possibilities resulting from the pandemic,” states Naveen Kakarla, president and CEO of Hersha Hospitality Management. “We targeted instantly on our current proprietors and understood that remaining scrappy – and serving to them take care of liquidity, streamline operations and travel market share – was our singular priority. For case in point, our proprietary and chopping-edge profits management techniques, when combined with an unrelenting focus on direct sales, resulted in HHM expanding market place share at a file pace all through the past 5 quarters.”