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Hersha buys 2 Miami Beach hotels

Hersha Hospitality Trust bought the 75-room Blue Moon Hotel and the 70-room Winter Haven Hotel, both located in Miami Beach, Florida, for US$50.95 million.

 Upon the transaction's closing, the hotels will be managed by Hersha Hospitality Management and remain members of Marriott International's Autograph Collection. Hersha Hospitality Trust, Philadelphia, said the acquisition of the hotels is being funded with cash on hand. Both of the hotels are located in the South Beach neighborhood.