�New York continues to be one of the hottest hotel markets in the nation,� said Sal Shahriar, executive vice president of Hersha Hospitality Management.  �We believe lower Manhattan remains underserved and that the Hampton Inn brand will appeal to a broad cross-section of both business and leisure travelers visiting the area.  This is our third property in Manhattan and fourth in New York City, which will allow us to take advantage of economies of scale and shared systems, resulting in a stronger bottom line for all.� The nine-story hotel is located in Manhattan�s historic Seaport district at 320 Pearl Street, within walking distance of Wall Street, City Hall, and Pace University and directly adjacent to South Street Seaport.  Additionally, the hotel is convenient to major New York City attractions including the Statue of Liberty, Ellis Island Ferries, Battery Park, and the Brooklyn waterfront. The Hampton Inn features gracious outdoor spaces and terraces, a fitness center with the latest cardiovascular equipment, and stylish furnishings designed by VegaP Architects of New York City.  Room amenities include complimentary high-speed internet access and

Hampton Inn Manhattan/Seaport is housed in a newly constructed nine-story building boasting some of the areas most significant historic architecture with all the qualities and features of the nationally recognized Hampton Inn brand with the design elements of a classic New York style hotel.

�We will continue to actively seek appropriate third-party management contracts,� Shahriar added.  �We believe there is an opportunity to add two to four contracts to our portfolio by year�s end.  Our ideal property remains mid-market and upscale hotels with high barriers to competition along the Eastern seaboard, particularly in urban areas.�

Hersha Hospitality Management is a hotel management company providing operations and development services to upscale and mid-scale hotels with strong, national franchise affiliations in the eastern United States.  The company currently provides hotel management services and asset management services to more than 50 hotels in the top markets in the nation, including metro Boston, Connecticut, New York City, New Jersey, Philadelphia, metro Washington D.C., and Atlanta.  For more information, please visit www.hershahotels.com.

Certain matters within this press release are discussed using forward-looking language as specified in the Private Securities Litigation Reform Act of 1995, and, as such, may involve known and unknown risks, uncertainties and other factors that may cause the actual results or performance to differ from those projected in the forward-looking statement. 

Hersha Hospitality Management, LP
510 Walnut Street, 9th Floor
Philadelphia, PA 19016
Phone: 215-238-1046
Fax: 215-238-0157
www.hersha.com