Manage the Newly Built 117-room Radisson Hotel
in Carteret, New Jersey
Pa., July 24, 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 opened the
117-room Radisson Hotel in Carteret, New Jersey. HHM will operate
the hotel as a third party manager on behalf of Meur Management, LP.
“The new Radisson prototype, with its highly distinctive look and updated feel, is well positioned to become a market leader in the metropolitan New York marketplace,” said Mark DiPiazza, HHM vice president of full service hotels. “Our guests will enjoy our proximity to Newark Airport, the northern N.J. region, and Manhattan, as well as our location just off the New Jersey Turnpike. We are proud to be part of Carteret’s aggressive growth plans and look forward to becoming an active participant in this growing community.”
The upscale, full-service property is located on 30 Minue Street, just off Exit 12 of the New Jersey Turnpike. The Radisson Hotel in Carteret features 3,700 square feet of meeting space, a 24-hour business center, fitness center and complimentary Internet access in all guest rooms. The hotel also houses Yogi’s American Bar and Grill and a cocktail lounge which boasts 22” flat panel TVs throughout the restaurant and lounge with table-side private listening monitors to the TV of choice.
“Our relationship with Meur Management, LP, is emblematic of our recent decision to bring our operational expertise in key Northeastern markets to third-party owners of upscale and mid-scale hotels” said Naveen Kakarla, vice president of administration at HHM. “We are confident the hotel will benefit from purchasing power and economies of scale with our ten hotel cluster in the area.”
Hersha Hospitality Management, L.P., is a hotel management company providing operations, development and asset management services to upscale and midscale hotels with strong, national franchise affiliations in the eastern United States. The company currently provides hotel 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, L.P.
|Also See:||Hersha Hospitality Management Signs Management Contract to Operate the 307-room Sheraton at Woodbridge Place in Northern New Jersey / May 2006|
|Hersha Hospitality Trust Names Two New Vice Presidents; Robert Hazard Named VP of Acquisitions and Development, William J. Walsh Named VP of Asset Management / August 2005|