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Hersha Hospitality Management Signs Management Contract to Operate
the 307-room Sheraton at Woodbridge Place in Northern New Jersey
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PHILADELPHIA, Pa., May 8, 2006 — Hersha Hospitality Management, L.P. (HHM), a hotel management company of nationally franchised, midscale and upscale hotels in the Northeastern United States, today announced that it has entered into a third- party management contract to operate the 307-room Sheraton at Woodbridge Place, located on Route One South in Iselin, N.J.  The property is owned by Sheraton Woodbridge LLC, a subsidiary of American Property Management.  

“We are excited to marshall HHM’s considerable resources to operate this strategically located property to enhance the customer experience,” said Mark DiPiazza, HHM vice president of full service hotels.  “Our sales and revenue management teams are providing immediate support to the property, along with a renewed emphasis on operations, customer service and shared services, with the intention of positioning the Sheraton at Woodbridge Place as one of the premier conference hotels in northern New Jersey.”  

Voted “Best Hotel” in Central Jersey by Home News Tribune readers, the Sheraton at Woodbridge Place is an upscale luxury property featuring 20,000 square feet of meeting and banquet space, including a grand ballroom with 21 foot ceiling, a 75 seat amphitheater and executive boardrooms.  The property also boasts two award-winning, three star restaurants (Allen’s Ristorante Italiano and Woodbridge Steakhouse) and Christie’s Bar and Grill.  Additional features include 42 suites with Sheraton Sweet Sleeper (SM) beds, a state-of-the-art fitness center, indoor and outdoor pools, a 24-hour business center and complimentary high-speed Internet access in all guest rooms.  

“We are delighted to serve as the manager of choice for this dynamic, full-service asset,” said Naveen Kakarla, vice president of administration for HHM, “which is strategically placed within a few miles of four other upscale properties under our management, and consistent with our strategy of expanding HHM’s core business through new third-party management relationships.” 

The Sheraton at Woodbridge Place is adjacent to Edison and Metuchen, N.J. and close to the Garden State Parkway, exit 131, and the New Jersey Turnpike, exit 11.  The property is 12 miles from Newark Liberty International Airport with convenient access to New York City, Atlantic City and Philadelphia.  

Hersha Hospitality Management, L.P. is a hotel management company providing operations, development, and asset management 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.

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Contact:

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


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