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KSL Capital Partners LLC, a Denver-headquartered investor in travel and leisure businesses, has announced that it will acquire all of the outstanding common shares of Hersha Hospitality Trust (NYSE:HT) for $10.00 per share in an all-cash transaction valued at approximately $1.4 billion.

After the acquisition is completed, Philadelphia-based Hersha will no longer be listed on any public securities exchange. The transaction is expected to close in the fourth quarter of this year.

Hersha is the owner of luxury and lifestyle hotels in coastal gateway and resort markets. Marty Newburger, a partner at KSL, stated, “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.”