>Hersha Hospitality Announces First Quarter 2010 Results

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>For the first quarter ended March 31, 2010, net loss applicable to common shareholders was $(15.8) million, or $(0.16) per diluted common share for the first quarter of 2010, compared to a net loss of $(9.8) million, or $(0.21) per common share for the comparable quarter of 2009.

Adjusted Funds from Operation (“AFFO”) in the first quarter was a loss of $(1.2) million, compared to $1.2 million in the first quarter of 2009. AFFO per diluted common share and limited partnership unit was a loss of $(0.01) compared to $0.02 for the same quarter of 2009. AFFO per share was impacted by an increase in the Company’s weighted average fully diluted share count to approximately 108.8 million in the first quarter of 2010 from approximately 56.5 million in the comparable quarter of 2009.

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