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Hersha Hospitality Trust Acquires Two Long Island Limited Service
Hotels for $37 million in Cash and Debt Assumption
Properties Added to Company's Existing Cluster of Five Metro-New York Hotels

PHILADELPHIA - Sept. 6, 2006-- Hersha Hospitality Trust (AMEX: HT - News), a real estate investment trust (REIT) and owner of 62 nationally franchised, upper-upscale, upscale and midscale limited service and extended-stay hotels, today announced the closing of the acquisition of the Hampton Inn, located in Farmingville, New York and the Holiday Inn Express in Hauppauge, New York.

The 161-room Hampton Inn in Farmingville, New York was purchased for $21.5 million comprising cash and the assumption of $15.5 million in debt, as previously announced. The hotel is located on the Long Island Expressway and is easily accessible to MacArthur Airport.

The Company's purchase of the 133-room Holiday Inn Express in Hauppauge, New York was finalized at $18 million comprising of cash and the assumption of $10.6 million in debt. The hotel is located on the Long Island Expressway, near the entrance of a 1,400-acre Industrial Park.

About Hersha Hospitality

Hersha Hospitality Trust is a self-advised real estate investment trust that owns interests in 62 midscale, upscale and upper upscale hotel properties with 7,737 rooms located in high barrier to entry markets primarily from Metro Boston, Massachusetts to Metro Washington, D.C with strong, national franchise affiliations. The Company focuses on acquisition and joint venture opportunities in primary and secondary markets near major metropolitan areas. More information on the Company is available on the Company's web site at

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.

Hampton Inn
2000 North Ocean Ave
Farmingville, NY

Hersha Hospitality Trust
Ashish Parikh

Also See: Hersha Hospitality Trust Reports 1st Qtr Net loss Applicable to Common Shareholders of $5.1 million Compared to a Net Loss of $1.0 million in 1st Quarter 2005; Owned Hotels RevPAR Increases 20.5% / Hotel Operating Statistics / May 2006
Housed in a Newly Constructed Nine-story Building, Hersha Hospitality Opens 65 room Hampton Inn Manhattan/Seaport / March 2006


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