Hersha Hospitality Sells Non-Core Joint Venture Asset

  Hersha Hospitality Sells Non-Core Joint Venture Asset

     - Sells Interest in Courtyard by Marriott in Warwick, Rhode Island -

Business Wire

PHILADELPHIA -- February 6, 2013

Hersha Hospitality Trust (NYSE: HT), owner of upscale and select service
hotels in major metropolitan markets, announced that it has sold its 66.7%
interest in a 92-room Courtyard by Marriott located in Warwick, Rhode Island
to its Joint Venture partner in a transaction valuing the property at $7.15
million. This property was acquired in August of 2005.

“The sale of our interest in this property helps further some of Hersha’s
primary stated objectives including continuing to enhance the quality and
location of our portfolio and simplifying our capital structure,” commented
Jay H. Shah, Chief Executive Officer. “After this disposition, we anticipate
that less than 7% of our 2013 Adjusted FFO will come from unconsolidated joint
venture properties. This transaction removes another secondary market,
non-core asset from our portfolio, allowing us to fully concentrate on our
higher growth hotels in key urban gateway cities. Finally, it also helps
reduce our leverage as we remove the associated debt from this joint venture
investment.”

About Hersha Hospitality Trust

Hersha Hospitality Trust is a self-advised real estate investment trust, that
owns 63 hotels in major urban gateway markets including New York, Washington,
Boston, Philadelphia, Los Angeles and Miami totaling 9,129 rooms. HT follows a
highly selective investment approach and leverages operational advantage
through rigorous and sustainable asset management practices. For further
information on the Company visit our website at www.hersha.com.

Forward Looking Statement

Certain matters within this press release are discussed using forward-looking
language as specified in 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
projected in the forward-looking statement. These forward-looking statements
include, among others, statements related to the Company’s cashflow
generation. For a description of factors that may cause the Company’s actual
results or performance to differ from its forward-looking statements, please
review the information under the heading “Risk Factors” included in the
Company’s Annual Report on Form 10-K for the year ended December 31, 2011
filed by the Company with the Securities and Exchange Commission on February
29, 2012 and other documents filed by the Company with the Securities and
Exchange Commission.

Contact:

Hersha Hospitality Trust
Ashish Parikh, CFO, 215-238-1046