Hersha Hospitality Trust Announces Public Offering of Series B Preferred Shares

Hersha Hospitality Trust (NYSE: HT), owner of upscale, mid-scale and extended stay hotels in major metropolitan markets, today announced the commencement of a public offering of Series B cumulative redeemable preferred shares of beneficial interest, par value $.01 per share ($25.00 liquidation preference per share). Hersha intends to grant the underwriters of the offering a 30-day option to purchase additional Series B preferred shares to cover over-allotments, if any. Hersha intends to use the net proceeds of the offering to repay outstanding indebtedness under its revolving line of credit and for general corporate purposes, including future acquisitions.

The joint book running managers for the offering are BofA Merrill Lynch, Barclays Capital, Morgan Stanley and Raymond James.

A registration statement relating to these preferred shares has been filed with the U.S. Securities and Exchange Commission and is effective. This announcement shall not constitute an offer to sell or a solicitation of an offer to buy Hersha’s securities, nor shall there be any sale of these securities or a solicitation of an offer to buy these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Offers for the securities will be made only by means of a prospectus supplement and accompanying prospectus forming part of the registration statement. A prospectus supplement and accompanying prospectus relating to these securities, when available, may be obtained from: BofA Merrill Lynch, Attn: Syndicate Operations, 100 West 33rd Street, 3rd Floor, New York, NY 10001 or email dg.prospectus_requests@baml.com; Barclays Capital Inc. c/o Broadridge Financial Solutions, Attn: Prospectus Department, 1155 Long Island Avenue, Edgewood, NY 11717 or email Barclaysprospectus@broadridge.com; Morgan Stanley & Co. Incorporated, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014 or email prospectus@morganstanley.com; or Raymond James & Associates, Inc., Attn: Prospectus Department, 880 Carillon Parkway, St. Petersburg, FL 33716 or email prospectus@raymondjames.com.

About Hersha Hospitality Trust

Hersha Hospitality Trust is a self-advised real estate investment trust, which owns interests in 78 hotels, totaling 10,442 rooms, primarily along the Northeast Corridor from Boston, MA to Washington DC. Hersha also owns hotels in Northern California and Scottsdale, Arizona. Hersha focuses on upscale, mid-scale and extended stay hotels in major metropolitan markets.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and, as such, may involve known and unknown risks, uncertainties and other factors that may cause the actual results or performance to differ from those reflected in the forward-looking statement. For a description of these factors, please review the information under the heading “Risk Factors” included in Hersha Hospitality Trust’s Annual Report on Form 10-K for the year ended December 31, 2010, filed with the U.S. Securities Exchange Commission and the prospectus supplement and accompanying prospectus relating to the offering.

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