Hersha Hospitality Management (HHM) has added 25 hotels totaling approximately 4,000 rooms to its portfolio since last year.
At the same time, the business retained all of its existing management contracts in 2020 by working closely with owners to deploy hyper focused approaches to preserving cash, driving sales to outperform its competition and maintaining outsized cost efficiencies across each of its submarkets.
HHM’s portfolio comprises roughly one-third lifestyle and independent, one-third resort and full-service, and one-third urban and select-service hotels. The company’s full portfolio includes 140 hotels operated on behalf of more than 20 institutional and long-term owners.
“Our senior leaders have worked together through many prior cycles and knew how to adapt very quickly to the many challenges and opportunities resulting from the pandemic,” said Naveen Kakarla, president and CEO, HHM. “We focused immediately on our existing owners and unders
