Hersha Hospitality Trust

Hasu P. Shah has been the Chairman of the Board since our inception in 1998. Mr. Shah is also the founder and CEO of the Hersha Group. Mr. Shah founded Hersha with the purchase of a single hotel in Harrisburg, Pennsylvania in 1984. In the last twenty years, Mr. Shah has developed, owned, or managed over fifty hotels across the Eastern United States and started affiliated businesses in general construction, purchasing, and hotel management. He has earned numerous awards including the Entrepreneur of the Year, the Creating a Voice award, and was recently named a Fellow of Penn State University. Mr. Shah and his wife, Hersha, are active members of the local community and remain involved with charitable initiatives in India as well. Mr. Shah has been an active Rotarian for nearly twenty years and continues to serve as a Trustee of several community service and spiritual organizations including Vraj Hindu Temple and the India Heritage Research Foundation. Mr. Shah received a Bachelors of Science degree in Chemical Engineering from Tennessee Technical University and obtained a Masters degree in Administration from Pennsylvania State University. Mr. Shah is also an alumnus of the Owner and President’s Management Program at Harvard Business School.

Ashish R. Parikh has been Chief Financial Officer of Hersha Hospitality Trust since 1999. Previously, Mr. Parikh was Assistant Vice President in the Mergers and Acquisition Group for Fleet Financial Group where he developed valuable expertise in numerous forms of capital raising activities including leveraged buyouts, bank syndications and venture financing. Mr. Parikh has also been employed by Tyco International Ltd and Ernst & Young LLP. Mr. Parikh received his MBA from New York University and a BBA from the University of Massachusetts at Amherst. Mr. Parikh is a licensed Certified Public Accountant.

Kiran P. Patel serves as a member of the Board of Trustees of Hersha Hospitality Trust and has been a principal with the Hersha Group since 1993. Mr. Patel serves as Chief Investment Officer for the Hersha Group, managing the company's complex development and financing activities. Prior to joining Hersha, Mr. Patel was a senior manager with AMP, currently a division of Tyco International. Mr. Patel earned his undergraduate degree in mechanical engineering from M.S. University in India and a Masters degree in industrial engineering from the University of Texas.

Mr. Michael R. Gillespie, Chief Accounting Officer, is responsible for the accounting, financial reporting and audit functions for the company. Prior to joining Hersha Hospitality Trust, Michael was manager of financial policy & controls for Tyco Electronics Corporation, responsible for the development, enhancement and implementation of financial controls for the company. Previously, he served as a senior manager with the "Big Four" firms of Arthur Andersen LLP and KPMG LLP. Mr. Gillespie received his B.S.B.A in Accounting from Bloomsburg University of Pennsylvania.

Robert C. Hazard III, Vice President of Acquisitions and Development, is responsible for sourcing and closing new business opportunities for Hersha Hospitality Trust. Prior to joining Hersha, Mr. Hazard was the chief executive at MetroVision Community Development, an advisory firm specializing in assisting governmental jurisdictions in the development and management of its tourism infrastructure. Mr. Hazard has also held development and acquisition positions at Starwood Hotels & Resorts, Interstate Hotels and has over a decade of industry consulting experience with top hospitality and tourism consulting firms including Pannell Kerr Forster and Kenneth Leventhal & Company. Mr. Hazard holds a Bachelor of Science Degree in Marketing from Arizona State University.

William J. Walsh, Vice President of Asset Management, is responsible for developing strategic plans for each property, reviewing all budgets and expenditures, and working with Hersha?s operators and third party management companies to increase profitability and overall portfolio returns. Prior to joining Hersha, he worked for GF Management, a hospitality management company based in Philadelphia. Mr. Walsh joined GF Management in 1994 as a Regional Controller and was promoted to Corporate Controller in January, 2000. Previously, he was the Controller for PGA National Resort & Spa in Palm Beach Gardens, Florida. Mr. Walsh also served as a Controller and in various accounting related positions for the Radisson Hotel Corporation over a ten year period. Mr. Walsh holds a B.S. degree in Accounting from Drexel University of Philadelphia, PA.

Thomas S. Capello has been President and a principal of Bank Realty LP, a partnership engaged in sale/leaseback transactions of bank properties, since 2000. He is also President of 1st Capital Group, Inc. which provides debt and equity placement for small businesses. From 1988 to 1999, Mr. Capello was the President, Chief Executive Officer and Director of First Capitol Bank in York, Pennsylvania. From 1983 to 1988, Mr. Capello served as Vice President and Manager of the Loan Production Office of The First National Bank of Maryland. Prior to his service at The First National Bank of Maryland, Mr. Capello served as Vice President and Senior Regional Lending Officer at Commonwealth National Bank and worked at the Pennsylvania Development Credit Corporation. Mr. Capello is a Director and Treasurer for the Ben Franklin Venture Investment Forum and the Martin Library and is a Board member of the Pennsylvania Angel Network. Mr. Capello has served on the Board of Trustees since our initial public offering in January 1999. Mr. Capello is a graduate of the Stonier Graduate School of Banking at Rutgers University and holds an undergraduate degree with a major in Economics from the Pennsylvania State University.

David L. Desfor serves as Treasurer and Corporate Secretary of Hersha Hospitality Trust and has been a principal partner of the Hersha Group since 1991. Mr. Desfor is comptroller of the Hersha Group, overseeing the corporate treasury and managing financial reporting for the company. He has been in the hospitality industry since 1982, having previously co-founded and served as President of a management company focused on conference centers and full-service hotels. David also serves on the Board of Directors of Channels, a regional organization which provides food to the impoverished and facilitates training welfare recipients for jobs in the food service industry. David earned his undergraduate degree from East Stroudsburg University in Hotel Administration.

Jay H. Shah is Hersha Hospitality Trust's Chief Executive Officer and a member of the Board of Trustees. Mr. Shah is involved in all areas of the business with a particular emphasis on strategic relationships, capital transactions, asset management and acquisitions. Prior to his appointment, Mr. Shah was principal in the law firm of Shah & Byler, LLP, which he founded in 1997, and managing director of the Hersha Group. Mr. Shah previously was a consultant with Coopers & Lybrand LLP, served the late Senator John Heinz on Capitol Hill, and was employed by the Philadelphia District Attorney's office and two Philadelphia-based law firms. Mr. Shah received a Bachelor of Science degree from the Cornell University School of Hotel Administration, an M.B.A. from the Temple University School of Business Management and a Law degree from Temple University School of Law.

As executive vice president, CFO and general counsel for Phoenix Health Systems, John Sabin brings with him almost 25 years of experience managing corporations' financial functions and merger and acquisition transactions. Mr. Sabin leads Phoenix' Finance & Accounting functions and oversees the company's accounting, banking, budgeting, cash management, contracting, and legal needs. Prior to joining Phoenix, Mr. Sabin served in senior finance positions with Marriott and Choice Hotels, as well as smaller firms including a venture capital and a biotech firm. Mr. Sabin held the position of CFO in two public companies and presently serves as a director of two public companies.

Mr. Hutchison has more than 30 years of senior management and consulting experience, primarily related to the real estate development and financial services industries. Most recently, Mr. Hutchison was the chief executive officer and member of the board of CNL Hotels & Resorts, Inc. (CNL), one of the nation's largest real estate investment trusts in the lodging industry. He also has previously served as CEO of CNL Senior Living, CNL Income Properties, Atlantic Realty Service, General Development Corporation and Murcock Development/Investment Corporation.