Hersha Hospitality Trust Announces Board Member Updates
- Michael Leven appointed as chair of Nominating and Corporate Governance
- Daniel Elsztain resigns from the Board of Trustees -
PHILADELPHIA -- December 06, 2012
Hersha Hospitality Trust (NYSE: 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
“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
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