Hersha Hospitality Management (HHM) and The Procaccianti Group (TPG) Resolve Lawsuit

PROVIDENCE, R.I., March 28, 2012 /PRNewswire/ -- Hersha Hospitality Management (HHM) and The Procaccianti Group (TPG) are pleased to announce that the parties have resolved the lawsuit pending in the United States District Court for the Eastern District of Pennsylvania, Hersha Hospitality Management v. The Procaccianti Group, et al.

HHM had sued TPG and four of its former employees (two of whom had previously worked for TPG) accusing them of wrongdoing in connection with the departure of the employees from HHM to TPG.

However, after open discussions with TPG and the former employees, HHM is satisfied that TPG has neither received (from the individuals) nor used any information proprietary to HHM.

HHM is also satisfied that TPG was not involved in procuring any confidential information from HHM, that the individuals did not give such information to TPG, and that TPG was not involved in any wrongdoing as alleged in the suit.

Accordingly, HHM has voluntarily dismissed the claims against TPG.

About Hersha Hospitality Management

Hersha Hospitality Management, commonly referred to as HHM, operates over 80 hotels ranging from luxury and full service hotels to select and limited service hotels from coast to coast. HHM provides turnkey hotel management and asset management for properties with leading brand affiliations through Marriott, Hilton, Hyatt, Starwood, and Intercontinental Hotel Group. HHM also operates twelve independent hotels ranging from the Rittenhouse Hotel, a AAA five diamond property in Philadelphia, to the oceanfront Postcard Inn in the Florida Keys. Their highly experienced team is accustomed to serving as a fiduciary to publicly traded companies, joint ventures, institutional real estate owners and private investors.

For more information, please visit www.hershahotels.com

About TPG Hospitality

TPG Hospitality is considered among the nation's elite hotel companies by evidence of its consistent national ranking as a top hospitality manager and top hospitality construction company. These results have earned TPG preferred status as an approved operator of all the major hotel brands including Hilton, Hyatt, InterContinental, Marriott, Wyndham, and Starwood. TPG Hospitality currently manages a national portfolio consisting of sixty one (61) hotels located coast to coast throughout twenty three (23) states with nearly seventeen thousand (17,000) guest rooms and over one million square feet of meeting space.

For more information please visit www.tpghospitality.com.

SOURCE The Procaccianti Group (TPG)

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