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Hersha Hospitality Management to Operate Two
Newly Opened, Hilton Family-Branded Hotels
in New York Metro Area

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PHILADELPHIA, Pa., February 16, 2005 — Officials of Hersha Hospitality Management, L.P. (HHMLP), an operator of nationally franchised, premium branded, full-service and limited-service hotels, today announced that the company has signed management agreements to operate two newly opened, Hilton family-branded hotels in the New York metro area:  the 136-room Hampton Inn-Manhattan Madison Square Garden Area and the 194-room Hilton Garden Inn Queens/JFK Airport. 

“The New York metro area remains one of the most dynamic hotel markets in the world,” said K. D. Patel, president of HHMLP.  “These two properties bring to four the number of Hilton-branded hotels we manage in New York.  The Hampton Inn that we operate in the Chelsea district has exceeded our projections, and we are confident that these two new properties will be equally well received.  The scheduled opening of a fifth hotel, the Hampton Inn Seaport-Financial District, by the end of the summer will allow us to take full advantage of economies of scale and shared capabilities.”

Hampton Inn-Manhattan Madison Square Garden

Situated within the shopping district of Herald Square, the 136-room Hampton Inn-Manhattan Madison Square Garden Area is located at 116 West 31st Street.  The 20-story hotel provides such amenities as a complimentary hot breakfast or new, “On the Run” breakfast bags, state-of-the-art fitness center, laundry/dry cleaning services.  Guest rooms feature plasma flat screen televisions, complimentary local phone calls and high speed Internet access.

Hilton Garden Inn Queens/JFK Airport

The six-story Hilton Garden Inn Queens/JFK Airport in Jamaica, N.Y. is located a half-mile from JFK Airport.  Hotel amenities include a free airport shuttle, Pavilion Lounge, indoor pool, workout facility, 24-hour business center, laundry facilities and 1,100 square feet of meeting space.  Rooms are equipped with complimentary, high speed Internet access, refrigerator, microwave, coffee maker, two dual-line speaker phones with voice mail and data ports, hair dryer, iron and ironing board.

Hersha Hospitality Management, L.P. (HHMLP) currently manages a portfolio of more than 34 premium limited- and full-service hotels with strong national franchise affiliations, primarily in the eastern United States. 

This press release may contain forward-looking statements. 

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Contact:

Hersha Hospitality Management, L.P.
Ashish Parikh, CFO (investors)
510 Walnut Street, 9th Floor
Philadelphia, PA 19016
Phone: 215-238-1046
www.hersha.com

Also See: Unprecedented Turn-Around in Manhattan's Lodging Market Shows Resilience of New York City as World's Leading Business Center / February 2005
Hersha Hospitality Trust Acquires Three Hotel Properties Valued at $12 Million / Aug 1999


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