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Regional Chamber > Newsroom > Press Releases > 2007 Archives > New HERSHA Hospitility Management Headquarters, Located in Midtown Harrisburg, Holds Opeb House and Ribbon Cutting

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2007 Archives

New HERSHA Hospitility Management Headquarters, Located in Midtown Harrisburg, Holds Opeb House and Ribbon Cutting

HARRISBURG, PA (January 31, 2007) - Today, Hersha Hospitality Management held an open house/ribbon cutting, in conjunction with the City of Harrisburg and Harrisburg Regional Chamber & CREDC (HRC/CREDC), at their new facility located at 44 Hersha Drive, Harrisburg.

This location, along the river in Harrisburg , becomes the new headquarters location for Hersha Hospitality Management, LP ("HHMLP"). HHMLP manages 51 hotels in 7 states and the District of Columbia for Hersha Hospitality Trust, a publicly traded Real Estate Investment Trust.

HRC/CREDC closed on financing for the purchase and renovations of the property formerly known as the Susquehanna Center building, in April 2006.

"CREDC was a driving force in helping us get this deal accomplished," stated Mayur Patel, Counsel, The Hersha Group. "It was a pleasure to work with a group that is so clearly dedicated to the responsible growth and enhanced vitality of the Capital Region."

CREDC provided a Pennsylvania Industrial Development Authority ("PIDA") loan for $1,353,000 and an Enterprise Zone Loan Fund loan for $500,000. CREDC, PIDA, and the Pennsylvania Department of Community and Economic Development worked in partnership with Graystone Bank, which provided additional financing.

The Capital Region Economic Development Corporation (CREDC), is the economic development arm of the Harrisburg Regional Chamber, and is the leading organization for promoting and performing economic development activities in Cumberland, Dauphin and Perry counties.  The group offers a variety of programs and resources to help attract, retain and expand business in the region.

The Harrisburg Regional Chamber & CREDC serves as a catalyst for promoting growth and quality of life in Cumberland, Dauphin and Perry Counties by providing a unique blend of business, community and economic development and advocacy services under one roof to boost our economic vitality and livability as a region. HRC/CREDC has been accredited with four stars from the United States Chamber of Commerce.