Copley Square Hotel Sells For High Price

The Boston Herald reported the Copley Square Hotel has been sold for $59.3 million by Cornerstone Real Estate Advisers according to registry of deeds filings.

CapStar Hotel Co. invested millions in a renovation of the 122-year-old hotel in 2008 but are selling the hotel for nearly twice the $32.5 million they bought it for six years ago, according to the Herald.

Analysts told the Herald the sale highlights a strong market for hotel sales in Boston as the rest of the real estate market recovers from the recent recession.