

	Year Ended December 31,
		2015		2014		2013
NUMERATOR:
Basic and Diluted*
Income from Continuing Operations	$	42,207	$	69,936	$	20,753
(Income) Loss from Continuing Operations allocated to Noncontrolling Interests		(411)		(1,069)		658
Distributions to Preferred Shareholders		(14,356)		(14,356)		(14,611)
Dividends Paid on Unvested Restricted Shares and LTIP Units		(453)		(515)		(804)
Extinguishment of Issuance Costs Upon Redemption of Series A Preferred Stock		-		-		(2,250)
Income from Continuing Operations attributable to Common Shareholders		26,987		53,996		3,746

Discontinued Operations
(Loss) Income from Discontinued Operations		-		(1,665)		29,195
Loss (Income) from Discontinued Operations allocated to Noncontrolling Interests		-		53		(993)
(Loss) Income from Discontinued Operations attributable to Common Shareholders		-		(1,612)		28,202

Net Income attributable to Common Shareholders	$	26,987	$	52,384	$	31,948

DENOMINATOR:
Weighted average number of common shares - basic		47,786,811		49,777,302		49,597,613
Effect of dilutive securities:
Restricted Stock Awards and LTIP Units (unvested)		303,949		347,829		596,041	*
Contingently Issued Shares		278,898		182,375		285,891	*
Weighted average number of common shares - diluted		48,369,658		50,307,506		50,479,545

*Income (loss) allocated to noncontrolling interest in Hersha Hospitality Limited Partnership has been excluded from the numerator and units of limited partnership interest in Hersha Hospitality Limited Partnership have been omitted from the denominator for the purpose of computing diluted earnings per share since the effect of including these amounts in the numerator and denominator would have no impact. In addition, potentially dilutive common shares, if any, have been excluded from the denominator if they are anti-dilutive to income (loss) from continuing operations applicable to common shareholders.