Hersha Executive Awarded Prestigious Human Resources Award

PHILADELPHIA, May. 12 /PRNewswire/ --

PHILADELPHIA, May 12 /PRNewswire/ -- Jeffery A. Wade, Senior Vice President of Human Resources for Hersha Hospitality Management, LP, has been announced as the Delaware Valley Human Resource Person of the Year. This prestigious award was developed to recognize those who exemplify outstanding achievement in the human resources community of approximately 5000 HR professionals across the Tri-State region. Wade serves on the executive committee of Hersha Hospitality Management, which provides turnkey hotel management solutions to leading ownership companies, including Hersha Hospitality Trust .

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The Delaware Valley HR Person of the Year Award is a joint effort among the Philadelphia Regional Society for Human Resource Management (SHRM), the HR Association of Southern New Jersey, the Delaware state SHRM, the Chester County Human Resource Association, and the Greater Valley Forge HR Association.

"Jeff has initiated tremendous change at Hersha and managed it gracefully under pressure," noted Jay H. Shah, Chief Executive Officer of Hersha Hospitality Trust. "In just two years, he has developed a talent management strategy, a new compensation and benefits program, a paperless initiative, an applicant tracking system, and planning models for continued momentum."

Wade joined Hersha Hospitality Management in 2006, when the company embarked on its highest growth period to date, doubling its hotels under management from 30 to 60. Wade has since been instrumental in decreasing property level turnover as well as management turnover, implemented new technologies for communication and branding for the company, and increased overall employee satisfaction to 88 percent, with 96 percent of associates claiming to be "proud to work for the company." He has also helped Hersha realize substantial cost savings in the number and total amount for benefit claims, saving 55 percent year over year, due to creative plan designs and the introduction of a new employee wellness program. As a result of these and many other daily efforts that positively impact associates, Hersha was selected in 2007 as a finalist for Fortune Magazine's 100 Best Places to Work in 2007.

Tom Reese, President of Hersha Hospitality Management, comments, "Jeff has played a leading role in celebrating and promoting diversity and inclusion throughout the organization, constantly asking the important question, 'Who's missing from this table?" He has also been instrumental in promoting Hersha's core values of honesty, communication, personal growth, community and achievement, ensuring that they form the foundation for everything we do at Hersha."

Mr. Wade holds a Bachelor of Science and Business Administration from the University of North Carolina. He is certified as a Senior Professional in Human Resources (SPHR).

About Hersha Hospitality Management

Hersha Hospitality Management currently provides asset management services at 14 properties and hotel management services at over 50 upscale and mid- scale hotels in the most valuable markets in the nation, including Boston, Hartford, New York City, New Jersey, Philadelphia, metro Washington D.C., the Southeastern US, California and Arizona. Hersha Hospitality Management provides turnkey hotel management and asset management for properties with leading brand affiliations through Marriott, Starwood, Hilton and Intercontinental. Our highly experienced team is accustomed to serving as a fiduciary to publicly traded companies, joint ventures, institutional real estate owners and private investors.

About Hersha Hospitality Trust

Hersha Hospitality Trust is a self-advised real estate investment trust, which owns interests in 73 hotels, totaling 9,266 rooms, primarily along the Northeast Corridor from Boston to Washington DC. The Company also owns hotels in Northern California and Scottsdale, Arizona. Hersha focuses on high quality upscale hotels in high barrier to entry markets. More information on the Company and its portfolio of hotels is available on Hersha's website at http://www.hersha.com