The Argentine holding company Irsa reported that it has become the main shareholder of Hersha Hospitality Trust, manager of hotels under franchises such as Intercontinental, Starwood, Hilton and Marriott, with which it will begin operating in the Hotel Market of the United States. Through its subsidiary Real Estate Investment Group, Irsa completed the transaction and represented the purchase of 5.7 million shares of Hersha common stock, at a rate of US$2.50 per share. That is, it paid a total of US$14.25 million to acquire 11% of this company.
In addition, the Argentine firm will have an option for the next five years on another 5.7 million shares of Hersha common stock. As an addendum, Irsa's president, Eduardo Elsztain, will hold a position on Hersha's board.
