Hersha Hospitality Trust Announces Date of Special Meeting to Approve Acquisition by KSL Capital Partners

PHILADELPHIA, Oct. 03, 2023 (GLOBE NEWSWIRE) -- Hersha Hospitality Trust (NYSE: HT) (“Hersha” or the “Company”), owner of luxury and lifestyle hotels in coastal gateway and resort markets, announced that it has set November 8, 2023 as the date for the special meeting of shareholders (the “Special Meeting”) to approve the previously announced acquisition by affiliates of KSL Capital Partners, LLC ("KSL"), a leading investor in travel and leisure businesses.

The Special Meeting will be held virtually at 9:00am ET at https://web.lumiagm.com/212424894. The record date for the Special Meeting has been set as October 2, 2023. Holders of Hersha’s common shares at the close of business on the record date are entitled to vote at the Special Meeting.

Subject to shareholder approval at the Special Meeting, Hersha anticipates that the transaction will close in the fourth quarter of 2023, contingent upon the satisfaction or waiver of the other remaining closing conditions.

More information about the Special Meeting and voting is included in the definitive proxy statement filed with the Securities and Exchange Commission by Hersha on October 3, 2023. Hersha shareholders that have any questions regarding the Special Meeting or need assistance in voting their shares should contact Hersha’s proxy solicitor, Okapi Partners LLC, by calling toll-free at [phone] or via email at [e-mail].

About Hersha Hospitality Trust
Hersha Hospitality Trust (HT) is a self-advised real estate investment trust in the hospitality sector, which owns and operates luxury and lifestyle hotels in coastal gateway and resort markets. The Company’s 25 hotels totaling 3,811 rooms are located in New York, Washington, DC, Boston, Philadelphia, South Florida, and California. The Company's common shares are traded on The New York Stock Exchange under the ticker “HT.” For more information on the Company, and the Company’s hotel portfolio, please visit the Company's website at www.hersha.com.

Additional Information and Where to Find It

In connection with the proposed transaction, the Company has filed relevant materials with the SEC, including a definitive proxy statement on Schedule 14A. Promptly after filing its definitive proxy statement with the SEC, the Company will mail the definitive proxy statement and a proxy card to each shareholder entitled to vote at the Special Meeting relating to the proposed transaction. INVESTORS AND SECURITY HOLDERS OF THE COMPANY ARE URGED TO CAREFULLY READ THE PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO AND ANY DOCUMENTS INCORPORATED BY REFERENCE THEREIN) AND ANY OTHER RELEVANT DOCUMENTS IN CONNECTION WITH THE TRANSACTION THAT THE COMPANY MAY FILE WITH THE SEC BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND THE PARTIES TO THE TRANSACTION. The definitive proxy statement, the preliminary proxy statement, and any other relevant materials in connection with the transaction (when they become available) and any other documents filed by the Company with the SEC, may be obtained free of charge at the SEC’s website at www.sec.gov or by accessing the Investor Relations section of the Company’s website at https://www.hersha.com.