Neil Shah, president and COO of Hersha Hospitality Trust, spoke with Hotel News Now at the Hotel Data Conference about the state of hotel investment and real estate investment trusts.
NASHVILLE, Tennessee—Much like the larger hotel industry, 2016 has been a transitional year for the real estate investment trusts in the space.
But Neil Shah, president and COO of Hersha Hospitality Trust, a Philadelphia-based REIT that focuses on “high-quality upscale hotels in urban gateway markets,” said Hersha has been “keeping pretty busy.” He said that’s a good sign that hotels are still a good investment.
“We still find that the transaction market is alive and well,” he said, during an interview at the recent Hotel Data Conference. “So even though hotel performance is in some markets declining, we’re finding that hotel values are holding up pretty well.”
Watch the video below for more thoughts from Shah on the pace of transactions, REITs’ relative inactivity in the marketplace, expectations going into 2017 and more.