Hersha Group, the parent of Philadelphia-based HershaHospitality Trust and related companies here and in Philadelphia,is relocating and expanding from its previous headquarters in theHoliday Inn and Conference Center in nearby New Cumberland, whichit owns, according to a Hersha spokeswoman. With relocation to thenew headquarters, Muench Street has been renamed Hersha Drive. Itis near the Riverfront Inn on Front Street, which is the firsthotel acquired by Hasu Shah, who founded the company, named afterhis wife, in 1983.

The state funding package from the Department of Community andEconomic Development includes a loan of approximately $1.4 millionthrough the Pennsylvania Industrial Development Authority, a$50,000 grant through the Opportunity Grant Program, and $100,000in job creation tax credits. Hersha Group will retain and create atotal of 110 jobs in this location.

The four-story building contains dining facilities, an exerciseroom and a four-story atrium with a view of the Susquehanna River.In addition to its hospitality REIT, which owns interests in 68hotel properties, the Hersha Group of Cos. includes HershaHospitality Management, which operates more than 50 hotels; HershaDevelopment Corp., which develops new hotels; and construction,interiors and supply firms that serve the hospitality industry.