Hersha Hospitality Trust approves $75M share repurchase
The board of trustees of Hersha Hospitality Trust has approved repurchasing up to an aggregate of $75 million of the company's common stock.
Hersha, with corporate offices listed in Harrisburg and Philadelphia, said the repurchase program is expected to continue through the end of next year.
It may be suspended or discontinued at any time, its news release stated.
Hersha Hospitality Trust owns 64 hotels totaling 9,221 rooms in urban gateway markets such as New York, Washington, Boston, Philadelphia, Los Angeles and Miami, according to the release.