KSL Capital, an investor in travel and leisure businesses, agreed to acquire Hersha Hospitality Trust, an owner of luxury and lifestyle hotels in coastal gateway and resort markets, for $1.4bn. “Hersha and its team have built an impressive, curated portfolio of experiential luxury and lifestyle hotels and resorts in strategic markets. With KSL’s extensive track record investing in high-quality assets in dynamic metropolitan markets across North America and around the world, we are uniquely suited to position the business for further success over the long term,” Marty Newburger, KSL Partner.