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Hersha Hospitality Trust lines up $100M share repurchase program

HershaHospitality Trust's board of trustees authorized a new sharerepurchase program of up to $100 million of its outstanding common shares.

The new program is expected to commence upon completion of anexisting $100 million share repurchase program, under which approximately $23.1million is still available for repurchase by the end of 2016.

The company said it expects to complete the new repurchaseprogram before Dec. 31, 2017, unless extended.

The company has repurchased around 2.6 million common sharesyear-to-date, totaling $49 million, and representing 5.9% of its outstandingcommon stock.