News & Press Releases
February 16, 2016
Industry Veteran Joseph Klam Will Lead HHM’s Accounting and Finance Team
(Philadelphia) – February 16, 2016 – HHM announced today that Joseph Klam has been named executive vice president of financial services and a member of the hotel management company’s executive leadership team. Klam, a 40-year hospitality veteran, will bolster HHM’s finance and accounting platform during a period of rapid growth in the company’s management of full service, independent and resort properties. He will join, and lead, the current highly-capable team to further build out the company’s accounting, banking and finance capabilities.
“Joseph Klam is an exciting addition to our executive team,” said Naveen Kakarla, HHM president and CEO. “His breadth of finance-related experience, at a variety of public and private hospitality companies, prepares him to take us to the next level. We worked hard to fill this position and, after a very meaningful search and selection process, feel confident in Joseph’s fit from a culture, leadership and technical standpoint.”
Klam boasts an extensive background in hospitality finance. He joins HHM after his most recently held position as executive vice president of hotel finance for Interstate Hotels & Resorts Inc., which he took on in October of 2006. Klam also served as senior vice president of hotel finance for Interstate Hotels & Resorts Inc., and was responsible for all aspects financial operations of its portfolio of 232 managed hotels and resorts. Additionally, Klam was also in charge of their global finance operations, negotiating deals on behalf of Interstate in the Middle East. Joining Interstate in 2003 from Millennium Hotels & Resorts, Klam served there as vice president of finance – North America.
Klam began his career with Stouffers Hotels & Resorts, where he worked in a variety of operational and management positions. He later joined Renaissance Hotels International and rose through the executive ranks to vice president of field financial services, international lodging – leading the transition of Renaissance Hotel Group systems after its acquisition by Marriott. Klam received a Bachelor of Science degree at The American University in Washington, D.C., and earned an MBA at the University of Phoenix in Arizona. He is a former member of AH&LA Internal Audit subcommittee and a member of the Hospitality Financial & Technology Professionals.
HHM, formerly known as Hersha Hospitality Management, operates 115 hotels across the United States. It provides turnkey hotel management, asset management and receivership for properties with leading 4
brand affiliations through Marriott, Hilton, Hyatt, Starwood, and Intercontinental Hotel Group. HHM also operates 28 independent hotels ranging from The Rittenhouse Hotel, a AAA Five Diamond property in Philadelphia, to the Larkspur Landing hotels, all-suite extended stay properties in Northern California and the Pacific Northwest. Its highly experienced team is accustomed to serving as a fiduciary to publicly traded companies, joint ventures, institutional real estate owners and private investors. Additional information on HHM can be found at hhmhospitality.com.