Hersha Hospitality Trust Opens Newly Built 205-room Hilton Garden Inn Midtown East in New York City

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. June 03, 2014

PHILADELPHIA - June 3, 2014- Hersha Hospitality Trust (NYSE: HT) ("Hersha" or the "Company"), owner of upscale hotels in urban gateway markets, today announced that the Company has opened the brand new 205-room Hilton Garden Inn Midtown East.

"We are extremely pleased to add this high quality hotel on 52nd Street off Third Avenue to our portfolio. This hotel complements the quality and net asset value of Hersha's New York City hotel portfolio and will be immediately accretive to our earnings. The hotel is ideally located within a dynamic office market, totaling approximately 20 million square feet, while proximate to landmarks such as the United Nations, Grand Central Station and Rockefeller Center, thereby appealing to both corporate and leisure travelers," stated Mr. Jay H. Shah, Hersha's Chief Executive Officer.

Based on the Company's forecasts, the development represents a first full-year economic capitalization rate of approximately 8.1% and a hotel EBITDA multiple of 11.2x. On a stabilized basis, the investment represents an economic capitalization rate of 11.0% and a hotel EBITDA multiple of 8.4x.

Located just minutes from Rockefeller Center, Radio City Music Hall, the Theater District and some of Manhattan's best shopping, Hilton Garden Inn Midtown East provides easy access to a number of activities in the vibrant city of New York.

"The convenient location of the new Hilton Garden Inn Midtown East puts New York's most iconic landmarks at guests' fingertips," said Adrian Kurre, global head, Hilton Garden Inn. "In addition, business travelers will be within walking distance to major transportation hubs such as Grand Central Station and offices such as the United Nations Headquarters."

For more information or to make a reservation, please visit Hilton Garden Inn New York/Manhattan-Midtown East or call +1 212 794 6000.

Read more about Hilton Garden Inn at www.hgi.com and www.news.hgi.com.

About Hilton Garden Inn

Hilton Garden Inn is the award-winning, upscale, yet affordable hotel brand that continually strives to ensure today's busy travelers have everything they need to be most productive on the road — from our oh-so-comfortable Garden Sleep System® bed to complimentary wired and Wi-Fi Internet access in all guestrooms. So whether on the road for personal or business reasons, Hilton Garden Inn offers the amenities and services for travelers to sleep deep, stay fit, eat well and work smart while away from home. For more information about our locations around the globe, visit www.hgi.com or news.hgi.com.

About Hilton Worldwide

Hilton Worldwide (NYSE: HLT) is a leading global hospitality company, spanning the lodging sector from luxury and full-service hotels and resorts to extended-stay suites and focused-service hotels. For 94 years, Hilton Worldwide has been dedicated to continuing its tradition of providing exceptional guest experiences. The company's portfolio of ten world-class global brands is comprised of more than 4,100 managed, franchised, owned and leased hotels and timeshare properties, with more than 685,000 rooms in 92 countries and territories, including Waldorf Astoria Hotels & Resorts, Conrad Hotels & Resorts, Hilton Hotels & Resorts, DoubleTree by Hilton, Embassy Suites Hotels, Hilton Garden Inn, Hampton Hotels, Homewood Suites by Hilton, Home2 Suites by Hilton and Hilton Grand Vacations. The company also manages an award-winning customer loyalty program, Hilton HHonors®.

About Hersha Hospitality Trust (HT)

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 52 hotels totaling 8,403 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-Euronext under the ticker 'HT'.