The 92-room hotel is in Warwick, R.I., the release stated.

The deal removes a "non-core" asset from Hersha's portfolio to concentrate on key urban gateway markets, according to the release.

Hersha, with corporate offices listed in Harrisburg and Philadelphia, sold the 66.7 percent interest in a transaction valuing the property at $7.15 million, the release stated.

Shares of Hersha are traded on the New York Stock Exchange under the ticker symbol HT.