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Hersha Hospitality Trust Prices Public Offering Of 6.875% Series C Preferred Shares

Hersha Hospitality Trust (NYSE: HT) today announced that it has priced a public offering of 3,000,000 shares of its 6.875% Series C cumulative redeemable preferred shares of beneficial interest, par value $.01 per share ($25.00 liquidation preference per share), for gross proceeds of $75,000,000. Hersha intends to use the net proceeds of the offering for the redemption of all of Hersha’s outstanding 8.00% Series A cumulative redeemable preferred shares of beneficial interest, par value $.01 per share ($25.00 liquidation preference per share).

The joint book-running managers for the offering are Wells Fargo Securities, LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Citigroup Global Markets Inc. and Raymond James & Associates, Inc. The lead manager for the offering is Robert W. Baird & Co. Incorporated. The co-managers for the offering are Cantor Fitzgerald & Co., FBR Capital Markets, and MLV & Co. LLC.

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 final prospectus supplement and accompanying prospectus relating to these securities, when available, may be obtained by contacting Wells Fargo Securities, LLC, Attention: Capital Markets Client Support, 1525 West W.T. Harris Blvd., NC0675, Charlotte, North Carolina 28262, by calling toll free at (800) 326-5897 or by e-mail at cmclientsupport@wellsfargo.com; Merrill Lynch, Pierce, Fenner and Smith Incorporated, Attention: Prospectus Department, 222 Broadway, New York, N.Y. 10038, Attention: Prospectus Department, by calling (800) 294-1322, or by e-mail dg.prospectus_requests@baml.com; Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by calling (800) 831-9146, or by email at batprospectusdept@citi.com; or Raymond James & Associates, Inc., Attn: Prospectus Department, 880 Carillon Parkway, St. Petersburg, FL 33716, by calling (800) 248-8863, or by email at prospectus@raymondjames.com

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

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, 2012, filed with the U.S. Securities Exchange Commission and the prospectus supplement and accompanying prospectus relating to the offering.

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