Room by Room, Hotel Owners Build Up RevPAR


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Sheraton Suites Key West

WASHINGTON, DC—When Hersha Hospitality Trustacquired Washington DC’s St. Gregory Hotel last month for $57 million, it would have been understandable to assume the REIT wouldn’t be investing much in upgrades. After all, the previous under had competed a renovation of its rooms in Fall 2014. But no — Hersha Hospitality Trust plans to reposition the hotel’s restaurant, bar and lobby.

Ditto when DiamondRock Hospitality Co. acquired the fee simple interest in Sheraton Suites Key West for $94 million, or $511,000 per key. Key West, FL, is the highest RevRAP market in the US, CEO CEO Mark Brugger said at the time of the deal’s announcement…

Room by Room, Hotel Owners Build Up RevPAR

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