Duane Street Hotel: A Unique Refuge of Timeless Comfort

New York, NY (October 26, 2006)—The Duane Street Hotel, an intimate 45-room, six-story upscale lifestyle boutique is scheduled to open after the New Year at 130 Duane Street on the corner of Duane and Church Streets in the landmarked Tribeca area of New York City.

Named for the triangle of city below Canal Street, Tribeca is one of the most exciting neighborhoods in New York City replete with galleries, restaurants and the annual Tribeca Film Festival. Tribeca is located between the bustling financial district of lower Manhattan and the SoHo retail district to the north.

The Duane Street Hotel was designed by noted architectural firm Gene Kaufman Associates and renowned interior design Paul Vega to integrate the unique character of Tribeca with the needs of sophisticated travelers and guests of the hotel.

The Mission
“The mission of Duane Street Hotel is to provide a unique refuge of timeless comfort, unrivaled service, and incomparable courtesy that will create an unforgettable guest experience,” notes Jeffrey M. Stegman, General Manager of the hotel.
“We have developed a hotel at ‘neighborhood’ scale—a small, service-oriented hotel that will engender loyalty and long-term stays from our guests.”
“The intimate environment provides a relaxed atmosphere that makes a guest feel like the Duane Street Hotel is their home away from home,” adds Stegman.

‘beca Restaurant
The lobby is shared with ‘beca, a 40-seat restaurant and bar which is presided over by Chef Kristiaan Ueno and boasts Asian and American fare with Mediterranean undertones.
Chef Ueno earned his reputation for fine food while cooking in some of the finest hotels in Italy. Upon his arrival to New York, Chef Ueno began cooking privately for celebrities from the world of fashion, entertainment and business.

Hi-Tech Rooms with Understated Elegance
Each of the 45 sophisticated and minimalist-designed rooms feature hardwood floors, a warm color palette, slate and marble bathrooms with rain-shower heads and Natural Products© from London. Guests will be pampered with 100% Egyptian cotton designer linens and twice-daily maid service.
All rooms are individually climate controlled and include hi-tech amenities to meet the needs of business and leisure travelers such as high-speed wired Internet in all rooms and high-speed wireless Internet access throughout the hotel; flat screen HD televisions; CD/DVD players and expandable work desks. A complete DVD film library is available for in-room viewing.
Additional amenities include a 24-hour Business Center where personalized business cards are made available upon arrival for all executive travelers; in-room spa services and a complimentary New York Times delivered every morning to each guest.

Room Rates
Room rates at the pet-friendly Duane Street Hotel start at $300.


For Additional Information
For more information on the Duane Street Hotel, please go to www.DuaneStreetHotel.com or email info@DuaneStreetHotel.com or call 212-964-4600.

Hersha Hospitality Management
The Duane Street Hotel is Hersha Hospitality Management’s fifth hotel in Manhattan and tenth in metropolitan New York City. The Duane Street Hotel represents the first of three new Hersha properties in the lifestyle boutique category.
Hersha Hospitality Management, L.P. is a hotel management company providing operations, development, and asset management services to upscale and mid-scale hotels with strong, national franchise affiliations in the eastern United States. The company currently provides hotel management services and asset management services to more than 50 hotels in the top markets in the nation, including metro Boston, Connecticut, New York City, New Jersey, Philadelphia and metro Washington, D.C.

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Certain matters within this press release are discussed using forward-looking language as specified in the Private Securities Litigation Reform Act of 1995, 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 projected in the forward-looking statement.