Holiday Inn Wall Street to Open in the Heart of New York City's Financial District

The property will showcase the brand's new sign, which is the seal of approval that this hotel exemplifies the standards of the $1 billion Holiday Inn brand relaunch program. The Holiday Inn brand relaunch is the largest in the history of the hospitality industry, with more than 3,300 hotels around the world being updated - improving quality and driving consistency at Holiday Inn and Holiday Inn Express hotels around the world. The global estate is expected to be relaunched by the end of 2010, and more than 1,700 hotels have already been relaunched to date.

The Holiday Inn Wall Street is in a prime location for both business and leisure travelers alike. Located directly across the street from the Federal Reserve Bank and just a block north of the New York Stock Exchange, business travelers will be centrally located in the business capital of the world and only minutes from all of the major financial institutions on Wall Street. Leisure travelers will also be conveniently located near popular attractions such as South Street Seaport, Battery Park and the ferry to the Statue of Liberty. For those wanting to explore more of the city, subway access is just one block from the hotel.

'Developing strong relationships with companies like McSam Hotel Group and Hersha Hospitality Management, gives IHG the opportunity to grow our portfolio in the right markets for our guests and their travel needs,' said Jim Anhut, chief development officer, the Americas, IHG. 'Despite the current economic market, we've opened four IHG properties in New York City in the past year, and this Holiday Inn Wall Street is additional proof of the strength of our brands and the commitment of our owners and franchisees.'

The Holiday Inn Wall Street is owned by McSam Hotel Group and managed by Hersha Hospitality Management, LP, under a license agreement with a company in the InterContinental Hotels Group. This is the 18th IHG property being managed by Hersha Hospitality Management in the United States.

"We are delighted to work with IHG around this exciting launch of the new Holiday Inn Wall Street, which will quickly become an urban jewel at the heart of Lower Manhattan,' said Naveen P. Kakarla, Executive Vice President of Hersha Hospitality Management. 'This assignment also marks a continuation of Hersha's fast growing third party management platform and is our twelfth hotel under management in New York City."

The 113 guestrooms each feature a 32 inch flat-panel TV, a Herman Miller ergonomic desk chair, granite countertops, Speakman showerheads, cordless speaker phone and free high-speed wired and wireless internet access. Additional amenities include a 24-hour fitness center and a full service restaurant providing the Holiday Inn Best-4-Breakfast? menu, featuring signature items such as Cinnamon Supreme French Toast(TM) and Skillet Inspirations(TM). Room Service Right...On Time(TM), also a standard at all Holiday Inn hotels, ensures that guests' room service orders are accurate and delivered on time, every time.

Logos, product and company names mentioned are the property of their respective owners.

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