Hersha sells interest in “non-core” Rhode Island hotel
Hersha Hospitality Trust has sold its interest in a Courtyard by Marriott in Rhode Island to its joint venture partner, according to a news release.
The 92-room hotel is in Warwick, R.I., the release stated.
The deal removes a "non-core" asset from Hersha's portfolio to concentrate on key urban gateway markets, according to the release.
Hersha, with corporate offices listed in Harrisburg and Philadelphia, sold the 66.7 percent interest in a transaction valuing the property at $7.15 million, the release stated.