Hasu P. Shah is the founder and chairman of Hersha Hospitality Trust. Mr. Shah founded the Hersha Group of Companies with the purchase of a single hotel in Harrisburg, Pennsylvania in 1984. In the last 35 years, he has developed, owned, or managed nearly 100 hotels across the U.S. and started affiliated businesses in general construction, purchasing, and hotel management as well as Assisted Living facilities. These companies include Hersha Purchasing and Design, Hersha Development Company, Hersha Hospitality Management, L.P., and Hersha Manor.
Mr. Shah took Hersha Hospitality Trust, an affiliated REIT, public in 1999. Since its IPO, Hersha Hospitality Trust has offered its shareholders the highest total return of any lodging REIT in the United States in the first twenty years. Prior to founding Hersha Group, Mr. Shah previously worked as a chemist for the New Jersey State Police and as an environmental engineer for the Commonwealth of Pennsylvania.
Until recently, Mr. Shah served on the Board of Directors for Graystone Tower Bank (presently Susquehanna Bank), a corporation which he also cofounded in 2005. At Graystone’s inception, there existed 1 branch location and $13 million in deposits. As of 12/31/11, the bank expanded to 49 branch locations and $2.8 billion in deposits. Similarly, he cofounded Montour Bank in 1988 and served on their Board from 1988-1992.