
The Wall Street Journal reports that Hersha Hospitality Trust will pay $95 million to purchase the 263-room Courtyard Miami Beach Oceanfront and adjacent beachfront land.
The real estate deal marks Hersha's entrance into Miami. Hersha says that the property is the only remaining franchised Marriott hotel in the Miami Beach market. The hotel was originally conceived as the Cadillac Hotel, before becoming a Marriott franchise in 2004.The real estate deal marks Hersha's entrance into Miami. Hersha says that the property is the only remaining franchised Marriott hotel in the Miami Beach market. The hotel was originally conceived as the Cadillac Hotel, before becoming a Marriott franchise in 2004.

