Hersha Hospitality Trust, a Maryland real estate investment trust ("Hersha"), today announced that it has priced a public offering of 4,000,000 shares of its 6.50% Series E cumulative redeemable preferred shares of beneficial interest, par value $.01 per share ($25.00 liquidation preference per share), for gross proceeds of $100,000,000. Hersha has granted the underwriters of the offering a 30-day option to purchase 600,000 additional Series E preferred shares. The offering is expected to close on November 7, 2016, subject to customary closing conditions. Hersha intends to use the net proceeds of the offering for general corporate purposes, including future acquisitions. The joint book-running managers for the offering are Morgan Stanley & Co. LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Wells Fargo Securities, LLC and Citigroup Global Markets Inc. The lead manager for the offering is J.P. Morgan Securities LLC. The co-managers for the offering are BBVA Securities Inc., Canaccord Genuity Inc., FBR Capital Markets & Co., Fifth Third Securities, Inc., Janney Montgomery Scott LLC, JMP Securities LLC, PNC Capital Markets LLC and Robert W. Baird & Co. Incorporated. A registration statement relating to these preferred shares has been filed with the U.S. Securities and Exchange Commission and is effective. This press release 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 by contacting Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; Merrill Lynch, Pierce, Fenner and Smith Incorporated, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC 28255-0001, Attn: Prospectus Department, email: firstname.lastname@example.org; Wells Fargo Securities, LLC, Attention: WFS Customer Service, 608 2nd Avenue South, Suite 1000, Minneapolis, MN 55402, email: email@example.com, telephone: (800) 645-3751; Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 800-831-9146; or the Securities Exchange Commission at http://www.sec.gov. Hersha Hospitality Trust (HT) is a self-advised real estate investment trust in the hospitality sector, which owns and operates high quality upscale hotels in urban gateway markets. The Company's 56 hotels totaling 8,944 rooms are located in New York, Boston, Philadelphia, Washington, DC, Miami and select markets on the West Coast. The Company's shares are traded on The New York Stock Exchange under the ticker "HT". 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, 2015 and subsequent reports, filed with the U.S. Securities Exchange Commission and the prospectus supplement and accompanying prospectus relating to the offering.