Press Release
May 4, 2001
HARRISBURG, PA -- Hersha Hospitality Trust (AMEX:HT) owner of nationally franchised full service and limited service
hotels, announced that it has concluded the sale of the 45-room Comfort Inn in Denver, Pennsylvania for $2.1 million
effective May 1, 2001.
Hasu P. Shah, CEO and Chairman stated, ``the sale of this asset reaffirms our commitment to growing our portfolio
in central business districts and strong metropolitan markets and to reduce our exposure in what we consider to
be non-strategic markets.''
Hersha Hospitality Trust is a self advised real estate investment trust that owns premium limited and full service
hotels in the eastern United States with strong, national franchise affiliations. The Company focuses on acquisition
and joint venture opportunities in primary and secondary markets near major metropolitan markets.
The Company currently owns 19 hotels in New York, Pennsylvania, Maryland and Georgia. Further inquiries regarding
Hersha Hospitality Trust should be directed to Ashish Parikh, CFO, at (717) 770-2405.
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 Trust
Ashish Parikh, 717/770-2405