Hersha Hospitality Trust Announces Public Offering of 22M Shares

Hersha Hospitality Trust HT today announced the commencement of a public offering of 22,000,000 common shares of beneficial interest, par value $.01 per share. Hersha intends to grant the underwriters of the offering a 30-day option to purchase up to an additional 3,300,000 common shares. Hersha intends to use the net proceeds of the offering to repay outstanding indebtedness under its revolving line of credit and for general corporate purposes, including the funding of future acquisitions.