Ownership Submission
FORM 3
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  ELSZTAIN EDUARDO S
 2. Date of Event Requiring Statement (Month/Day/Year)
08/04/2009		 3. Issuer Name and Ticker or Trading Symbol
HERSHA HOSPITALITY TRUST [HT]
(Last)
(First)
(Middle)
HERSHA HOSPITALITY TRUST, 510 WALNUT STREET, 9TH FLOOR		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
5. If Amendment, Date Original Filed(Month/Day/Year)
08/14/2009
(Street)

PHILADELPHIA, PA 19106		 6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)		 2. Amount of Securities Beneficially Owned
(Instr. 4)		 3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)		 4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Class A Common Shares of Beneficial Interest 6,209,587
I (1)
See Footnote (2)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)		 2. Date Exercisable and Expiration Date
(Month/Day/Year)		 3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)		 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)		 6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Option to Purchase Class A Common Shares of Beneficial Int 08/04/2009 08/04/2014 Class A Common Shares of Beneficial Interest 5,700,000 $ 3 I (1) See Footnote (2)

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
ELSZTAIN EDUARDO S
HERSHA HOSPITALITY TRUST
510 WALNUT STREET, 9TH FLOOR
PHILADELPHIA, PA 19106		   X   X    
CONSULTORES ASSETS MANAGEMENT STOCK CORP
BOL??VAR 108, 1ST FLOOR
BUENOS AIRES, C1 		       Chairman of the Board
CONSULTORES VENTURE CAPITAL LTD
REGATTA OFFICE PARK, P.O. BOX 31106, SMB
GRAND CAYMAN, E9 		       Chairman of the Board
CRESUD INC
MORENO 877, 23RD FLOOR
CIUDAD AUT??NOMA DE
BUENOS AIRES, C1 		       Chairman of the Board
CONSULTORES VENTURE CAPITAL URUGUAY STOCK CORP
RUTA 8, 17,500, EDIFICIO @3, LOCAL 003
MONTEVIDEO, X3 CP 91609		       Chairman of the Board
AGROINVESTMENT STOCK CORP
COLONIA 810, OF. 803
MONTEVIDEO, X3 CP 11000		       Chairman of the Board
IRSA INVESTMENTS & REPRESENTATIONS INC
MORENO 877, 21ST FLOOR
CIUDAD AUT??NOMA DE
BUENOS AIRES, C1 		       Chairman of the Board
Ifis LTD
MINTFLOWER PLACE, 4TH FLOOR
8 PAR-LA-VILLE ROAD
HAMILTON, D0 HM 08		       Chairman of the Board
INVERSIONES FINANCIERAS DEL SUR STOCK CORP
RUTA 8, 17,500, EDIFICIO @3, LOCAL 003
MONTEVIDEO, X3 CP 91609		       Chairman of the Board
Agrology Stock Corp
MORENO 877, 21ST FLOOR
BUENOS AIRES, C1 		       Chairman of the Board

Signatures

/s/ Eduardo S. Elsztain 11/24/2009
**Signature of Reporting Person Date
/s/ Eduardo S. Elsztain, Chairman of the Board for Consultores Assets Management S.A. 11/24/2009
**Signature of Reporting Person Date
/s/ Eduardo S. Elsztain, Chairman of the Board for Consultores Venture Capital Limited 11/24/2009
**Signature of Reporting Person Date
/s/ Eduardo S. Elsztain, Chairman of the Board for Cresud Sociedad An??nima Comercial, Inmobiliaria, Financiera y Agropecuaria 11/24/2009
**Signature of Reporting Person Date
/s/ Eduardo S. Elsztain, Chairman of the Board for Consultores Venture Capital Uruguay 11/24/2009
**Signature of Reporting Person Date
/s/ Eduardo S. Elsztain, Chairman of the Board for Agroinvestment S.A. 11/24/2009
**Signature of Reporting Person Date
/s/ Eduardo S. Elsztain, Chairman of the Board for IRSA Inversiones y Representaciones Sociedad An??nima 11/24/2009
**Signature of Reporting Person Date
/s/ Eduardo S. Elsztain, Chairman of the Board for IFIS Limited 11/24/2009
**Signature of Reporting Person Date
/s/ Eduardo S. Elsztain, Chairman of the Board for Inversiones Financieras del Sur S.A. 11/24/2009
**Signature of Reporting Person Date
/s/ Alejandro G. Elsztain, Chairman of the Board for Agrology S.A. 11/24/2009
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) We are adding Consultores Assets Management S.A., Consultores Venture Capital Uruguay S.A., Agroinvestment S.A., Consultores Venture Cpital Ltd., Ifis Limited, Inversiones Financieras del Sur S.A., Cresud Sociedad An??nima Comercial, Inmobiliaria, Financiera y Agropecuaria, Agrology S.A. and Tyrus S.A. as additional Reporting Persons as they did not have EDGAR codes at the time of filing. See the original Form 3 for additional members of this joint filing.
(2) Please see the Exhibit of the form 3 filed on august 14, 2009, for more details.
 
Remarks:
Form 1 of 2.

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