Sec Form 4 Filing - Ifis LTD @ HERSHA HOSPITALITY TRUST - 2012-09-04

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP 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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1. Name and Address of Reporting Person Ifis LTD 2. Issuer Name and Ticker or Trading Symbol HERSHA HOSPITALITY TRUST [ HT] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner _____ Officer (give title below) X __ Other (specify below) See Remarks (Last) (First) (Middle) FLORIDA 537, PISO 18?, 3. Date of Earliest Transaction (MM/DD/YY) 09/04/2012 (Street) BUENOS AIRES, C1C1005AAK 4. If Amendment, Date Original Filed (MM/DD/YY) 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 Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Class A Common Shares of Beneficial Int 09/04/2012 S 2,000,000 D $ 4.86 16,105,630 I See Footnote ( 1 ) Class A Common Shares of Beneficial Int 15,400 D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners Repo rting Owner Name / Address Relationships Director 10% Owner Officer Other Ifis LTD FLORIDA 537, PISO 18? BUENOS AIRES, C1C1005AAK See Remarks INVERSIONES FINANCIERAS DEL SUR STOCK CORP RUTA 8, KM. 17.500 EDIFICIO 3, LOCAL 3 MONTEVIDEO, X391600 See Remarks TYRUS STOCK CORP PLAZA INDEPENDENCIA 811, PB MONTEVIDEO, X311100 See Remarks Idalgir Stock Corp FLORIDA 537, PISO 18? BUENOS AIRES, C1C1005AAK See Remarks JIWIN STOCK CORP PLAZA INDEPENDENCIA 811, PB MONTEVIDEO, X311100 See Remarks IRSA INVESTMENTS & REPRESENTATIONS INC BOLIVAR 108 BUENOS AIRES, C1C1066AAD See Remarks Signatures /s/ IFIS Limited by Eduardo S. Elsztain, Chairman of the Board 09/06/2012 Signature of Reporting Person Date /s/ Inversiones Financieras del Sur S.A. by Eduardo S. Elsztain, Chairman of the Board 09/06/2012 Signature of Reporting Person Date /s/ Tyrus S.A. by Eduardo S. Elsztain, Chairman of the Board 09/06/2012 Signature of Reporting Person Date /s/ Idalgir S.A. by Eduardo S. Elsztain, Chairman of the Board 09/06/2012 Signature of Reporting Person Date /s/ Jiwin S.A. by Eduardo S. Elsztain, Chairman of the Board 09/06/2012 Signature of Reporting Person Date /s/ IRSA Inversiones y Representaciones Sociedad Anonima by Eduardo S. Elsztain, Chairman of the Board 09/06/2012 Signature of Reporting Person Date

Explanation of Responses:

( 1 )Please see Exhibit.

Remarks: The filing group may be considered a trustee by deputization on the basis of a contractual right to appoint a trustee.This Form 4 is being filed in two parts due to the ten person reporting limitation of the electronic filing system. Part 1 is being filed by the following persons: Eduardo S. Elsztain, Consultores Assets Management S.A., Consultores Venture Capital Limited, Cresud Sociedad Anonima Comercial, Inmobiliaria, Financiera y Agropecuaria, Consultores Venture Capital Uruguay SA, Agroinvestment S.A., Real Estate Investment Group LP, Real Estate Investment Group II LP, Real Estate Investment Group III LP, and Real Estate Investment Group IV LP

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(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).

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