Hersha, headquartered in Philadelphia, Pennsylvania, owns 18 hotels comprising 2,963 rooms.[1] It is owned by KSL Capital Partners, a private equity firm. Notable hotels owned by the company are the St. Gregory Hotel and The Ritz-Carlton, Georgetown, both in Washington, DC.
History
In January 1979, Indian-American immigrant Hasu P. Shah and his wife, Hersha, after whom the company was named, bought an 11-room motel near Harrisburg, Pennsylvania.[2] Five years later, Hasu Shah formed the company and purchased a hotel in Harrisburg, Pennsylvania.[2]
In January 1999, a year after being organized into a Maryland real estate investment trust, it became a public company via an initial public offering.[3]