Shearman & Sterling advised Citibank, N.A. as administrative agent in connection with modifications to Hersha Hospitality’s senior credit facilities. The modifications are one of several steps the company has taken to mitigate the impact of COVID-19 and provide the company with additional operational and financial flexibility. Hersha Hospitality Trust is a hospitality sector REIT that owns and operates 48 high-quality upscale, luxury and lifestyle hotels in urban gateway markets and resort destinations in the United States.

The Team