Hersha Hospitality Trust Names Charles Paloux as VP of Asset Management
Philadelphia - February 20, 2014 - Hersha Hospitality Trust (NYSE: HT), owner of upscale hotels in urban gateway markets, announced today that Charles Paloux was named Vice President of Asset Management. Paloux oversees HT's Miami and Washington DC portfolios as well as its independent boutique portfolio across the country. He is also very involved in HT's disposition and refinancing strategy and execution.
"It's with great pleasure that we announce Charles' promotion to Vice President," said HT President and COO Neil H. Shah. "As our focus on Miami market and our Independent Collection continues to grow, the company is excited to have Charles focus his efforts in these strategic areas. Charles has been an integral part of the HT team since May 2010, and as always, his impact will be greater than his specific responsibilities."
Prior to joining HT, he was a Senior Consultant at PricewaterhouseCoopers in their Hospitality and Leisure Consulting Practice based in Philadelphia. Previously, he served as a Financial Controller at Accor, where he oversaw the company's 90 hotels in the London region. Paloux also held various managerial positions at full service luxury hotels in the U.S. and France.
Graduating with a master's in Real Estate Finance from Cornell University's School of Hotel Administration and a bachelor's in Hospitality Management from Glion Hotel School in Switzerland, Paloux is a frequent guest lecturer at Cornell and Lausanne Hotel School. He is also a member of Cornell Hotel Society and the Hospitality Asset Managers Association (HAMA).
Paloux is originally from Nice, France and currently resides in Center City Philadelphia with his wife Nicole.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements related to the expected timing of the transaction described above, 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 reflected in the forward-looking statement. For a description of these factors, please review the information under the heading "Risk Factors" included in Hersha Hospitality Trust's Annual Report on Form 10-K for the year ended December 31, 2011, filed with the U.S. Securities Exchange Commission.
About Hersha Hospitality Trust
Hersha Hospitality Trust (HT) is a self-advised real estate investment trust in the hospitality sector, which owns and operates high quality upscale hotels in urban gateway markets. The Company's 50 hotels totaling 7,999 rooms are located in New York, Boston, Philadelphia, Washington, DC, Miami and select markets on the West Coast. The Company's shares are traded on The New York Stock Exchange-Euronext under the ticker 'HT'.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
