CONSOLIDATED STATEMENT OF OPERATIONS (UNAUDITED) (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2013		Mar. 31, 2012
Revenue:
Hotel Operating Revenues	$ 76,790		$ 64,854
Interest Income from Development Loans	146		621
Other Revenues	34		62
Total Revenues	76,970		65,537
Operating Expenses:
Hotel Operating Expenses	48,364		40,350
Gain on Insurance Settlements	(403)		0
Hotel Ground Rent	228		194
Real Estate and Personal Property Taxes and Property Insurance	6,666		5,110
General and Administrative (including Share Based Payments of $2,388 and $2,133)	4,996		5,168
Acquisition and Terminated Transaction Costs	3		958
Depreciation and Amortization	15,096		13,441
Total Operating Expenses	74,950		65,221
Operating Income	2,020		316
Interest Income	456		106
Interest Expense	10,420		11,482
Other Expense	205		236
Loss on Debt Extinguishment	261		6
Loss before loss from Unconsolidated Joint Venture Investments, Income Taxes and Discontinued Operations	(8,410)		(11,302)
Loss from Unconsolidated Joint Ventures	(396)		(730)
Loss Before Income Taxes	(8,806)		(12,032)
Income Tax Benefit	1,130		0
Loss from Continuing Operations	(7,676)		(12,032)
Discontinued Operations (Note 12):
Gain on Disposition of Hotel Properties	0		4,502
Loss from Discontinued Operations	0		(384)
Income from Discontinued Operations	0		4,118
Net Loss	(7,676)		(7,914)
Loss Allocated to Noncontrolling Interests	673		741
Preferred Distributions	(3,844)		(3,500)
Issuance Costs of Redeemed Preferred Stock	(2,250)		0
Net Loss applicable to Common Shareholders	$ (13,097)		$ (10,673)
BASIC
Loss from Continuing Operations applicable to Common Shareholders (in dollars per share)	$ (0.07)		$ (0.09)
Income from Discontinued Operations applicable to Common Shareholders (in dollars per share)	$ 0		$ 0.03
Net Loss applicable to Common Shareholders (in dollars per share)	$ (0.07)		$ (0.06)
DILUTED
Loss from Continuing Operations applicable to Common Shareholders (in dollars per share)	$ (0.07)	[1]	$ (0.09)	[1]
Income from Discontinued Operations applicable to Common Shareholders (in dollars per share)	$ 0	[1]	$ 0.03	[1]
Net Loss applicable to Common Shareholders (in dollars per share)	$ (0.07)	[1]	$ (0.06)	[1]
Weighted Average Common Shares Outstanding:
Basic (in shares)	197,029,017		170,427,428
Diluted (in shares)	197,029,017	[1]	170,427,428	[1]

[1] 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.