Hersha Hospitality Management (HHM) Adds 25 Hotels By Finding Opportunities in the Pandemic to Grow Management Portfolio hospitalitynet.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hospitalitynet.org Daily Mail and Mail on Sunday newspapers.
Share via Shortlink
Akara Partners CEO Rajen Shastri, top right; Hersha Hospitality CEO Naveen Kakarla; and Home2 Suites on Huron Street. (Akara, Hersha, Hilton)
Less than two months before the pandemic took hold, Akara Partners snagged a $57 million refinance on its newly built 206-room extended-stay hotel in River North.
Almost exactly a year later, as Covid-19 continues to devastate Chicago’s hospitality industry, the developer has recapitalized its Home2 Suites by Hilton property with an investment from Hersha Hospitality Management, Crain’s reported.
The recap on Home2 Suites at 110 West Huron Street comes as hotels across the city, and the country, have been struggling to survive.