School of Hotel Administration, Hersha Hospitality Trust Team Up on Real Estate Research

Oct 21, 2010

Contact:  Ashlee Mills, 607.254.1368, am754@cornell.edu

Hersha Hospitality Trust has joined the Cornell School of Hotel Administration's Corporate Membership Program at the president level. Through this agreement, Hersha will become an Industry Fellow of the Center for Real Estate Finance (CREF), provide financial support to the center, benefit from the research findings of CREF faculty, and engage in development of CREF programming. The company will also sponsor several upcoming events presented by the school, including the Cornell Icon of the Industry Awards Dinner and the Cornell Innovation Network.

"Industry Fellows are critical to the development of real estate education and research at Cornell, and Hersha is an outstanding addition to our program. Hersha's strength in the capital markets, combined with the strength of their operating partners, makes them a model for the school's engagement with the real estate industry," said Jan deRoos, HVS Professor of Hotel Finance and Real Estate and executive director of CREF.

Hersha is a real estate investment trust (REIT) that invests in institutional grade hotels in central business districts, primary suburban office markets, and stable destination and secondary markets in the northeastern United States and select markets on the West Coast. The company owns interests in 77 high-quality upper-upscale, upscale, and midscale hotels with 9,951 rooms.

"We are delighted to partner with Cornell, the global leader in hospitality education, and we are excited that our new relationship will result in innovative research in real estate, new management practices, and the advancement of real estate studies at Cornell," said Jay H. Shah, CEO of Hersha.

To learn more about the Corporate Membership Program, visit http://sha.cornell.edu/corporations-recruiters/engagement-opportunities.html.