Hersha Hospitality is a real estate investment trust (REIT) that operates a number of small hotels in major gateway cities in the United States. The company is based in Philadelphia and has 46 employees (Hersha.com, 2016), which indicates the nature of its business -- it is a real estate firm that leaves the actual management of each hotel to a partner company. Hersha's main business drivers, therefore, lie with its ability to understand broader hospitality trends and identify underpriced properties that fit within the trend, and then develop those properties for a healthy return on investment.
There are several strengths that Hersha has. The first is that the company has assembled a strong, experienced team that can effectively identify properties and then work with the partners to ensure that the properties retain their value through the third-party management. A directory of the Hersha management team can be found on its website, and many are experienced in the industry for decades.
Another strength lies with the strategy itself. Hersha targets hotels in major gateway cities. It cites on its website that the reason for this is because these cities have multiple traveler draws -- business, pleasure and convention traffic all. As such, these locations are poised for longer-term growth than might be expected of hotels in smaller centers. Further, the geographic strategy has retained a focus on the United States, which allows Hersha to understand the local market better, and not have to deal with the differences in laws and cultures that come with trying to be an international company. In essence, they know who they are and what they are good at, and stick with that. They cite having a small geographic focus as a strength in their 2015 Annual Report.
A third strength for Hersha is that they have kept their operation small. Their objective is to return a strong investment for their shareholders. The small size of their operations allows Hersha to carve out a niche, rather than seeking to be an major player. They are able to focus on high-return properties, and not dilute their returns by spreading out to lower-value properties. A fourth strength lies with...
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