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Hersha sells interest in “non-core” Rhode Island hotel

By - Last modified: February 6, 2013 at 11:23 AM

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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.

Shares of Hersha are traded on the New York Stock Exchange under the ticker symbol HT.

Brent Burkey

Brent Burkey

Brent Burkey covers York County, agribusiness, energy and environment, and workforce issues. Have a tip or question for him? Email him at brentb@cpbj.com. Follow him on Twitter, @brentburkey.

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