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
OMB APPROVAL
OMB Number: 3235-0104
Expires: January 31, 2005
Estimated average burden hours per response... 0.5

(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 (1)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.

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 Bnfl Interest 08/04/2009 08/04/2014 Class A Common Shares of Beneficial Interest 5,700,000 $ 3 I (1) See Footnote (1)

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 		     X    
CONSULTORES VENTURE CAPITAL LTD
REGATTA OFFICE PARK, P.O. BOX 31106, SMB
GRAND CAYMAN, E9 		     X    
CRESUD INC
MORENO 877, 23RD FLOOR
CIUDAD AUT??NOMA DE
BUENOS AIRES, C1 		     X    
CONSULTORES VENTURE CAPITAL URUGUAY STOCK CORP
RUTA 8, 17,500, EDIFICIO @3, LOCAL 003
MONTEVIDEO, X3 CP 91609		     X    
AGROINVESTMENT STOCK CORP
ZABALA 1422, 2ND FLOOR
MONTEVIDEO, X3 		     X    
REAL ESTATE INVESTMENT GROUP LP
CLARENDON HOUSE 2
CHURCH STREET
HAMILTON HM CX, D0 		     X    
IRSA INVESTMENTS & REPRESENTATIONS INC
BOLIVAR 108, 1ST FLOOR
BUENOS AIRES, C1 		     X    
Ifis LTD
MINTFLOWER PLACE, 4TH FLOOR
8 PAR-LA-VILLE ROAD
HAMILTON, D0 HM 08		     X    
INVERSIONES FINANCIERAS DEL SUR STOCK CORP
RUTA 8, 17,500, EDIFICIO @3, LOCAL 003
MONTEVIDEO, X3 CP 91609		     X    

Signatures

/s/ Eduardo S. Elsztain 12/16/2009
**Signature of Reporting Person Date
/s/ Eduardo S. Elsztain, Chairman of the Board for Consultores Assets Management S.A. 12/16/2009
**Signature of Reporting Person Date
/s/ Eduardo S. Elsztain, Chairman of the Board for Consultores Venture Capital Limited 12/16/2009
**Signature of Reporting Person Date
/s/ Eduardo S. Elsztain, Chairman of the Board for Cresud Sociedad An??nima Comercial, Inmobiliaria, Financiera y Agropecuaria 12/16/2009
**Signature of Reporting Person Date
/s/ Eduardo S. Elsztain, Chairman of the Board for Consultores Venture Capital Uruguay 12/16/2009
**Signature of Reporting Person Date
/s/ Eduardo S. Elsztain, Chairman of the Board for Agroinvestment S.A. 12/16/2009
**Signature of Reporting Person Date
/s/ Eduardo S. Elsztain, Chairman of the Board of Jiwin S.A., General Partner for Real Estate Investment Group LP 12/16/2009
**Signature of Reporting Person Date
/s/ Eduardo S. Elsztain, Chairman of the Board for IRSA Inversiones y Representaciones Sociedad An??nima 12/16/2009
**Signature of Reporting Person Date
/s/ Eduardo S. Elsztain, Chairman of the Board for IFIS Limited 12/16/2009
**Signature of Reporting Person Date
/s/ Eduardo S. Elsztain, Chairman of the Board for Inversiones Financieras del Sur S.A. 12/16/2009
**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 Inversora Bolivar S.A. and Real Estate Investment Group LP 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. Inversora Bolivar S.A. and Real Estate Investment Group LP should also be included in the two Forms 4 filed on November 25, 2009, and December 1, 2009.
 
Remarks:
Form 1 of 2

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, See Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.