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Hasu Shah, CEO of Hersha Hospitality, Named the
Lodging Industry’s Top Performing Chief Executive
of 2004 by HVS Executive Search

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June 6, 2005 - HVS Executive Search, a division of the global hotel consulting and services firm HVS International, has honored Hasu Shah, chief executive officer of Hersha Hospitality (NYSE: HT), a real estate investment trust (REIT) and owner of nationally franchised, midscale and upscale hotels, as the lodging industry’s top performing chief executive officer of 2004.  Keith Kefgen, president of HVS Executive Search, and Stephen Rushmore, president and founder of HVS International, presented the award yesterday during HVS International’s 25th Gala Celebration held at the United Nations Delegates Dining Room.  The Silver Anniversary Celebration was shared with delegates attending the 27th Annual New York University International Hospitality Industry Investment Conference.

The award is presented each year to the lodging industry CEO who offers the best value to shareholders based on a Pay-for-Performance model designed by Kefgen.  The model compares CEO compensation to such indicators as stock appreciation, market capitalization, and increases in earnings before interest, depreciation and amortization (EBITDA) to determine the top-performing CEO.

Co-founders Hersha and Hasu P. Shah began what would eventually become the Hersha Hospitality Group in 1984 with the purchase of a 120-room independent hotel in Harrisburg.  Since that time, the organization has emerged as a leading publicly-held real estate investment trust (REIT), a national hotel management company and a leading developer of hotels between Boston and Washington DC.  The companies build, manage and own premium limited- and full-service hotels in the eastern United States with strong, national franchise affiliations.  The company’s owned and managed portfolio consists of 34 hotels in 7 states. 

“With Hasu’s leadership the Shah family has proven to make terrific decisions to continue the fast paced growth of the Hersha Hospitality brand,” says Kefgen. 

Hersha Hospitality Trust is a self-advised real estate investment trust that owns midscale and upscale hotels in the eastern United States with strong, national franchise affiliations.  The company focuses on acquisition and joint venture opportunities in primary and secondary markets near major metropolitan markets. 

HVS Executive Search is the nation’s leading retained executive search firm specializing in the hospitality industry.  Core competencies of the firm also include compensation design and corporate governance consulting.  In addition, HVS Executive Search offers online recruitment through www.hospitalitycareernet.com, and employment assessment through www.2020skills.com.

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Contact:

Leora Halpern Lanz
516-248-8828 x278
llanz@hvsinternational.com

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Also See: HVS Executive Search Presents Lodging Leadership Award For Board Performance To Arlington Hospitality and The Lodging Industry’s Top Performing Chief Executive Officer of 2003 Award to Jonathan Tisch, CEO of Loews Hotels / June 2004
David Litman, CEO and Co-founder of Hotels.com, Named the Lodging Industry’s Top Performing CEO of 2002 by HVS Executive Search / June 2003


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