|Hersha Hospitality Trust, is a self-advised Maryland real estate investment trust. The Company invests primarily in institutional grade hotels in urban and central business districts, primary suburban office markets and stable destination and secondary markets in the Northeastern United States, Florida and select markets on the West Coast. The Company owns a general partnership interest in Hersha Hospitality Limited Partnership (HHLP or the Partnership), which owns a 99% limited partnership interest in various subsidiary partnerships. Hersha Hospitality, LLC (HHLLC), a Virginia limited liability company, owns a 1% general partnership interest in the subsidiary partnerships and the Partnership is the sole member of HHLLC. It leases its wholly-owned hotels to 44 New England Management Company (44 New England), its wholly-owned taxable REIT subsidiary (TRS). In March 2014, Hersha Hospitality Trust closed on the purchase of the Hotel Oceana in Santa Barbara, California.