Hersha Hospitality Management and The Procaccianti Group Resolve Lawsuit
Following Open Discussions, Claims Against TPG have been Voluntarily Dismissed
PROVIDENCE, RI - March 28, 2012 - 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.
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 
