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 Sal Shahriar Promoted to Executive Vice President,
Hersha Hospitality Management

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HARRISBURG, Pa., January 5, 2004 — Senior officials of Hersha Hospitality Management (HHM), a mid-sized, independent hotel management company, today announced that the company has promoted Sal Shahriar from vice president to executive vice president.  In his new position, he will be responsible for the day-to-day operations of the company’s 24 managed hotels.
 
“Since he joined HHM in 2002, Shahriar has played a key role in our properties outperforming their competitive set during arguably the most difficult period in hotel history,” said K.D. Patel, President.  “He has led our hotels to an 8.4 percent improvement in RevPAR for the last 12 months and has overseen the takeover of six hotels and the opening of two others, including the highly successful opening of the first-ever Hampton Inn in Manhattan.”
 
Prior to joining Hersha, Shahriar spent six years at Six Continents (now Intercontinental Hotel Group), as director of field services where he oversaw 589 hotels and 17 field service managers.  Previously, he was general manager with Winegardner & Hammons and with B.F. Saul Company as assistant vice president of the hotel division.

“Our managed portfolio has grown 33 percent in the past 12 months, and we have an active pipeline,” noted K.D. Patel.  “Shahriar has a proven track record and will be instrumental in helping us manage our future growth.”

Hersha Hospitality Management is an independent hotel management company that operates high quality, mid-scale limited service hotels in the Eastern United States.  The company currently manages 24 hotels nationwide.

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.

 

 
Contact:
Chris Daly
(703) 435-6293
Also See: Sal Shahriar Named Partner and VP of Operations for Hersha Hospitality Management Company / March 2002


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