Hersha Hospitality Trust Announces Board Member Updates


Hersha Hospitality Trust Announces Board Member Updates

- Michael Leven appointed as chair of Nominating and Corporate Governance Committee -
- Daniel Elsztain resigns from the Board of Trustees -

PHILADELPHIA--(BUSINESS WIRE)-- Hersha Hospitality Trust (NYS: HT) (the "Company"), owner of upscale hotels in urban gateway markets, today announced that Mr. Michael Leven has been re-elected to the Board of Trustees and was recently appointed to chair the Nominating and Corporate Governance Committee of the Board and to participate on the Acquisition and Compensation Committee of the Board.

Mr. Leven is President and Chief Operating Officer of the Las Vegas Sands Corporation and is responsible for the overall operations of the company's U.S. and international locations.

Mr. Leven is a veteran hospitality executive with more than 50 years of experience in the business and a distinguished and well-recognized record of success. He was formerly president and chief executive officer of US Franchise Systems, Inc., the company he founded in 1995, which developed and franchised the Microtel Inns & Suites and Hawthorn Suites hotel brands. He was previously the president and COO of Holiday Inn Worldwide, president of Days Inn of America, and president of Americana Hotels and is currently a trustee of the Marcus Foundation.

"We are quite pleased to be able to regain the services of Michael Leven to further benefit from his extensive experience and expertise," stated Jay H. Shah, Hersha's CEO. "Michael has always been a valuable asset to our Board of Trustees and we look forward to continuing our productive relationship."

The Company also announced today that Mr. Daniel Elsztain has resigned from the Board of Trustees because his duties as a director and an executive officer of public companies such as IRSA Inversiones y Representaciones Sociedad Anónima ("IRSA") have prevented him from devoting the time and attention he believes is appropriate to his role as a member of the Company's Board of Trustees. Prior to his resignation, Mr. Elsztain served as a Class I trustee. As a result, IRSA will no longer have direct representation on the Board of Trustees.

About Hersha Hospitality Trust

Hersha Hospitality Trust is a self-advised real estate investment trust, that owns 64 hotels in major urban gateway markets including New York, Washington, Boston, Philadelphia, Los Angeles and Miami totaling 9,221 rooms. HT follows a highly selective investment approach and leverages operational advantage through rigorous and sustainable asset management practices. For further information on the Company visit our website at www.hersha.com.

Hersha Hospitality Trust
Ashish Parikh, CFO, 215-238-1046

KEYWORDS: United States North America Pennsylvania


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