Simpson Thacher is representing KSL Capital Partners (“KSL”) in connection with the acquisition of Hersha Hospitality Trust (“Hersha”) in an all-cash transaction valued at approximately $1.4 billion. Under the terms of the merger agreement, upon the closing of the transaction, Hersha’s common shareholders will receive $10 per share in cash. The transaction is expected to close in the fourth quarter of 2023, subject to customary closing conditions.
KSL is a private equity firm specializing in travel and leisure enterprises in five primary sectors: hospitality, recreation, clubs, real estate and travel services.
Hersha is a self-advised real estate investment trust in the hospitality sector, which owns and operates luxury and lifestyle hotels in coastal gateway and resort markets. Hersha’s portfolio includes 25 hotels totaling 3,811 rooms, which are located in New York, Washington D.C., Boston, Philadelphia, South Florida and California.
The Simpson Thacher team included Gregory Klein, Fred de Albuquerque, Jack Traylor and Matthew Walls (M&A); Krista Miniutti, Danielle Jackson, Sam Rudik, Elie Lipnik, Austin Hart, Dorian Ledbetter and Isabelle McAlevey (Real Estate); Benjamin Rippeon, Nancy Mehlman, Edward Grais and Jasmine Hay (Tax); Tom Wuchenich and John Kreager (Funds); Greg Grogan, Harry Hudesman and Hannah Daniels (ECEB); Peter Guryan, Kelly Karapetyan and Jamie Logie (Antitrust); Lori Lesser and Rachelle Broida (Intellectual Property); Bill Brentani and Barry Lau (Capital Markets); Christopher Brown, Mark Haddox and Janhvi Barthwal (Credit); and Toby Chun and Deepa Sarkar (Environmental).