Schedule 13D

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE 13D

(Rule 13d-101)

INFORMATION TO BE INCLUDED IN

STATEMENTS FILED PURSUANT TO RULE 13d-1(a) AND

AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a)

Under the Securities Exchange Act of 1934

 

 

HERSHA HOSPITALITY TRUST

(Name of Issuer)

 

 

Class A Common Shares of Beneficial Interest, US$ 0.01 par value per share

(Title of Class of Securities)

 

 

427825104

(CUSIP Number)

 

 

Saúl Zang

Juan Manuel Quintana

Carolina Zang

María de los Ángeles del Prado

Estudio Zang, Bergel y Viñes

Florida 537, 18th Floor

Buenos Aires, Argentina

+54(11) 4322-0033

(Name, Address and Telephone Number of Person authorized to Receive Notices and Communications)

 

 

August 4, 2009

(Date of Event which Requires Filing of this Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), Rule 13d-1(f) or Rule 13d-1(g), check the following box.  ¨

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to who copies are to be sent.

 

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

1


SCHEDULE 13D

 

CUSIP No. 427825104     Page 2 of 30 Pages

 

  1.  

NAME OF REPORTING PERSON

I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)

 

            Eduardo S. Elsztain

   
  2.  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  x

(b)  ¨

   
  3.  

SEC USE ONLY

 

   
  4.  

SOURCE OF FUNDS

 

            AF - WC

   
  5.  

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

 

  ¨
  6.  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

            Republic of Argentina

   

NUMBER OF  

SHARES  

BENEFICIALLY  

OWNED BY  

EACH  

REPORTING  

PERSON  

WITH  

 

  7.    SOLE VOTING POWER

 

                0

 

  8.    SHARED VOTING POWER

 

                11,909,587

 

  9.    SOLE DISPOSITIVE POWER

 

                0

 

10.    SHARED DISPOSITIVE POWER

 

                11,909,587

11.  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

            11,909,587

   
12.  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

  ¨
13.  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

            19.68%

   
14.  

TYPE OF REPORTING PERSON

 

            IN

   

 


SCHEDULE 13D

 

CUSIP No. 427825104     Page 3 of 30 Pages

 

  1.  

NAME OF REPORTING PERSON

I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)

 

            Agroinvestment S.A.

   
  2.  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  x

(b)  ¨

   
  3.  

SEC USE ONLY

 

   
  4.  

SOURCE OF FUNDS

 

            AF - WC

   
  5.  

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

 

  ¨
  6.  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

            Republic of Uruguay

   

NUMBER OF  

SHARES  

BENEFICIALLY  

OWNED BY  

EACH  

REPORTING  

PERSON  

WITH  

 

  7.    SOLE VOTING POWER

 

                0

 

  8.    SHARED VOTING POWER

 

                11,909,587

 

  9.    SOLE DISPOSITIVE POWER

 

                0

 

10.    SHARED DISPOSITIVE POWER

 

                11,909,587

11.  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

            11,909,587

   
12.  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

  ¨
13.  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

            19.68%

   
14.  

TYPE OF REPORTING PERSON

 

            CO

   

 


SCHEDULE 13D

 

CUSIP No. 427825104     Page 4 of 30 Pages

 

  1.  

NAME OF REPORTING PERSON

I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)

 

            IFIS Limited

   
  2.  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  x

(b)  ¨

   
  3.  

SEC USE ONLY

 

   
  4.  

SOURCE OF FUNDS

 

            AF - WC

   
  5.  

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

 

  ¨
  6.  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

            Bermuda

   

NUMBER OF  

SHARES  

BENEFICIALLY  

OWNED BY  

EACH  

REPORTING  

PERSON  

WITH  

 

  7.    SOLE VOTING POWER

 

                0

 

  8.    SHARED VOTING POWER

 

                11,909,587

 

  9.    SOLE DISPOSITIVE POWER

 

                0

 

10.    SHARED DISPOSITIVE POWER

 

                11,909,587

11.  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

            11,909,587

   
12.  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

  ¨
13.  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

            19.68%

   
14.  

TYPE OF REPORTING PERSON

 

            CO

   

 


SCHEDULE 13D

 

CUSIP No. 427825104     Page 5 of 30 Pages

 

  1.  

NAME OF REPORTING PERSON

I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)

 

            Inversiones Financieras del Sur S.A.

   
  2.  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  x

(b)  ¨

   
  3.  

SEC USE ONLY

 

   
  4.  

SOURCE OF FUNDS

 

            AF - WC

   
  5.  

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

 

  ¨
  6.  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

            Republic of Uruguay

   

NUMBER OF  

SHARES  

BENEFICIALLY  

OWNED BY  

EACH  

REPORTING  

PERSON  

WITH  

 

  7.    SOLE VOTING POWER

 

                0

 

  8.    SHARED VOTING POWER

 

                11,909,587

 

  9.    SOLE DISPOSITIVE POWER

 

                0

 

10.    SHARED DISPOSITIVE POWER

 

                11,909,587

11.  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

            11,909,587

   
12.  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

  ¨
13.  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

            19.68%

   
14.  

TYPE OF REPORTING PERSON

 

            CO

   

 


SCHEDULE 13D

 

CUSIP No. 427825104     Page 6 of 30 Pages

 

  1.  

NAME OF REPORTING PERSON

I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)

 

            Cresud Sociedad Anónima Comercial Inmobiliaria

            Financiera y Agropecuaria

   
  2.  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  x

(b)  ¨

   
  3.  

SEC USE ONLY

 

   
  4.  

SOURCE OF FUNDS

 

            AF - WC

   
  5.  

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

 

  ¨
  6.  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

            Republic of Argentina

   

NUMBER OF  

SHARES  

BENEFICIALLY  

OWNED BY  

EACH  

REPORTING  

PERSON  

WITH  

 

  7.    SOLE VOTING POWER

 

                0

 

  8.    SHARED VOTING POWER

 

                11,909,587

 

  9.    SOLE DISPOSITIVE POWER

 

                0

 

10.    SHARED DISPOSITIVE POWER

 

                11,909,587

11.  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

            11,909,587

   
12.  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

  ¨
13.  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

            19.68%

   
14.  

TYPE OF REPORTING PERSON

 

            CO

   

 


CUSIP No. 427825104     Page 7 of 30 Pages

 

  1.  

NAME OF REPORTING PERSON

I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)

 

            Dolphin Fund PLC

   
  2.  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  x

(b)  ¨

   
  3.  

SEC USE ONLY

 

   
  4.  

SOURCE OF FUNDS

 

            AF - WC

   
  5.  

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

 

  ¨
  6.  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

            Isle of Man

   

NUMBER OF  

SHARES  

BENEFICIALLY  

OWNED BY  

EACH  

REPORTING  

PERSON  

WITH  

 

  7.    SOLE VOTING POWER

 

                0

 

  8.    SHARED VOTING POWER

 

                11,909,587

 

  9.    SOLE DISPOSITIVE POWER

 

                0

 

10.    SHARED DISPOSITIVE POWER

 

                11,909,587

11.  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

            11,909,587

   
12.  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

  ¨
13.  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

            19.68%

   
14.  

TYPE OF REPORTING PERSON

 

            OO

   

 


CUSIP No. 427825104     Page 8 of 30 Pages

 

  1.  

NAME OF REPORTING PERSON

I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)

 

            Consultores Venture Capital Limited

   
  2.  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  x

(b)  ¨

   
  3.  

SEC USE ONLY

 

   
  4.  

SOURCE OF FUNDS

 

            AF - WC

   
  5.  

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

 

  ¨
  6.  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

            Cayman Islands

   

NUMBER OF  

SHARES  

BENEFICIALLY  

OWNED BY  

EACH  

REPORTING  

PERSON  

WITH  

 

  7.    SOLE VOTING POWER

 

                0

 

  8.    SHARED VOTING POWER

 

                11,909,587

 

  9.    SOLE DISPOSITIVE POWER

 

                0

 

10.    SHARED DISPOSITIVE POWER

 

                11,909,587

11.  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

            11,909,587

   
12.  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

  ¨
13.  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

            19.68%

   
14.  

TYPE OF REPORTING PERSON

 

            CO

   

 


CUSIP No. 427825104     Page 9 of 30 Pages

 

  1.  

NAME OF REPORTING PERSON

I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)

 

            Agrology S.A.

   
  2.  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  x

(b)  ¨

   
  3.  

SEC USE ONLY

 

   
  4.  

SOURCE OF FUNDS

 

            AF - WC

   
  5.  

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

 

  ¨
  6.  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

            Argentina

   

NUMBER OF  

SHARES  

BENEFICIALLY  

OWNED BY  

EACH  

REPORTING  

PERSON  

WITH  

 

  7.    SOLE VOTING POWER

 

                0

 

  8.    SHARED VOTING POWER

 

                11,909,587

 

  9.    SOLE DISPOSITIVE POWER

 

                0

 

10.    SHARED DISPOSITIVE POWER

 

                11,909,587

11.  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

            11,909,587

   
12.  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

  ¨
13.  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

            19.68%

   
14.  

TYPE OF REPORTING PERSON

 

            CO

   

 


CUSIP No. 427825104     Page 10 of 30 Pages

 

  1.  

NAME OF REPORTING PERSON

I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)

 

            Consultores Assets Management S.A.

   
  2.  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  x

(b)  ¨

   
  3.  

SEC USE ONLY

 

   
  4.  

SOURCE OF FUNDS

 

            AF – WC

   
  5.  

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

 

  ¨
  6.  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

            Argentina

   

NUMBER OF  

SHARES  

BENEFICIALLY  

OWNED BY  

EACH  

REPORTING  

PERSON  

WITH  

 

  7.    SOLE VOTING POWER

 

                0

 

  8.    SHARED VOTING POWER

 

                11,909,587

 

  9.    SOLE DISPOSITIVE POWER

 

                0

 

10.    SHARED DISPOSITIVE POWER

 

                11,909,587

11.  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

            11,909,587

   
12.  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

  ¨
13.  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

            19.68%

   
14.  

TYPE OF REPORTING PERSON

 

            CO

   

 


CUSIP No. 427825104     Page 11 of 30 Pages

 

  1.  

NAME OF REPORTING PERSON

I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)

 

            Consultores Venture Capital Uruguay S.A.

   
  2.  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  x

(b)  ¨

   
  3.  

SEC USE ONLY

 

   
  4.  

SOURCE OF FUNDS

 

            AF - WC

   
  5.  

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

 

  ¨
  6.  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

            Republic of Uruguay

   

NUMBER OF  

SHARES  

BENEFICIALLY  

OWNED BY  

EACH  

REPORTING  

PERSON  

WITH  

 

  7.    SOLE VOTING POWER

 

                0

 

  8.    SHARED VOTING POWER

 

                11,909,587

 

  9.    SOLE DISPOSITIVE POWER

 

                0

 

10.    SHARED DISPOSITIVE POWER

 

                11,909,587

11.  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

            11,909,587

   
12.  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

  ¨
13.  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

            19.68%

   
14.  

TYPE OF REPORTING PERSON

 

            CO

   

 


CUSIP No. 427825104     Page 12 of 30 Pages

 

  1.  

NAME OF REPORTING PERSON

I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)

 

            IRSA Inversiones y Representaciones S.A.

   
  2.  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  x

(b)  ¨

   
  3.  

SEC USE ONLY

 

   
  4.  

SOURCE OF FUNDS

 

            AF - WC

   
  5.  

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

 

  ¨
  6.  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

            Republic of Argentina

   

NUMBER OF  

SHARES  

BENEFICIALLY  

OWNED BY  

EACH  

REPORTING  

PERSON  

WITH  

 

  7.    SOLE VOTING POWER

 

                318,887

 

  8.    SHARED VOTING POWER

 

                11,590,700

 

  9.    SOLE DISPOSITIVE POWER

 

                318,887

 

10.    SHARED DISPOSITIVE POWER

 

                11,590,700

11.  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

            11,909,587

   
12.  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

  ¨
13.  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

            19.68%

   
14.  

TYPE OF REPORTING PERSON

 

            CO

   

 


CUSIP No. 427825104     Page 13 of 30 Pages

 

  1.  

NAME OF REPORTING PERSON

I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)

 

            Inversora Bolívar S.A.

   
  2.  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  x

(b)  ¨

   
  3.  

SEC USE ONLY

 

   
  4.  

SOURCE OF FUNDS

 

            AF - WC

   
  5.  

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

 

  ¨
  6.  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

            Republic of Argentina

   

NUMBER OF  

SHARES  

BENEFICIALLY  

OWNED BY  

EACH  

REPORTING  

PERSON  

WITH  

 

  7.    SOLE VOTING POWER

 

                190,700

 

  8.    SHARED VOTING POWER

 

                11,718,887

 

  9.    SOLE DISPOSITIVE POWER

 

                190,700

 

10.    SHARED DISPOSITIVE POWER

 

                11,718,887

11.  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

            11,909,587

   
12.  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

  ¨
13.  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

            19.68%

   
14.  

TYPE OF REPORTING PERSON

 

            CO

   

 


CUSIP No. 427825104     Page 14 of 30 Pages

 

  1.  

NAME OF REPORTING PERSON

I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)

 

            Tyrus S.A.

   
  2.  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  x

(b)  ¨

   
  3.  

SEC USE ONLY

 

   
  4.  

SOURCE OF FUNDS

 

            AF - WC

   
  5.  

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

 

  ¨
  6.  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

            Republic of Uruguay

   

NUMBER OF  

SHARES  

BENEFICIALLY  

OWNED BY  

EACH  

REPORTING  

PERSON  

WITH  

 

  7.    SOLE VOTING POWER

 

                0

 

  8.    SHARED VOTING POWER

 

                11,909,587

 

  9.    SOLE DISPOSITIVE POWER

 

                0

 

10.    SHARED DISPOSITIVE POWER

 

                11,909,587

11.  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

            11,909,587

   
12.  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

  ¨
13.  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

            19.68%

   
14.  

TYPE OF REPORTING PERSON

 

            CO

   

 


CUSIP No. 427825104     Page 15 of 30 Pages

 

  1.  

NAME OF REPORTING PERSON

I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)

 

            Real Estate Investment Group L.P.

   
  2.  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  x

(b)  ¨

   
  3.  

SEC USE ONLY

 

   
  4.  

SOURCE OF FUNDS

 

            AF - WC

   
  5.  

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

 

  ¨
  6.  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

            Bermuda

   

NUMBER OF  

SHARES  

BENEFICIALLY  

OWNED BY  

EACH  

REPORTING  

PERSON  

WITH  

 

  7.    SOLE VOTING POWER

 

                11,400,000

 

  8.    SHARED VOTING POWER

 

                509,587

 

  9.    SOLE DISPOSITIVE POWER

 

                11,400,000

 

10.    SHARED DISPOSITIVE POWER

 

                509,587

11.  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

            11,909,587

   
12.  

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

  ¨
13.  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

            19.68%

   
14.  

TYPE OF REPORTING PERSON

 

            PN

   

 


CUSIP No. 427825104     Page 16 of 30 Pages

 

Item 1. Security and Issuer

This statement relates to the Class A Common Shares of Beneficial Interest, US$ 0.01 par value per share (the “Common Shares”), of Hersha Hospitality Trust (“HHT”), a Maryland real estate investment trust. The address of the principal executive offices of HHT is 510 Walnut Street, 9th Floor, Philadelphia, Pennsylvania 19106.

 

Item 2. Identity and Background

(a)-(c), (f) This statement is being filed by Eduardo S. Elsztain (“Elsztain”) a citizen of the Republic of Argentina who serves as Chairman of the board of directors of each of the following companies, except for Agrology S.A., Inversora Bolívar S.A. and Real Estate Investment Group LP:

 

  (i) IFIS Limited, a limited liability company organized under the laws of Bermuda (“IFIS”);

 

  (ii) Inversiones Financieras del Sur S.A., a stock corporation organized under the laws of the Republic of Uruguay (“IFISA”);

 

  (iii) Cresud Sociedad Anónima Comercial, Inmobiliaria, Financiera y Agropecuaria, a stock corporation organized under the laws of the Republic of Argentina (“Cresud”);

 

  (iv) Agrology S.A., a stock corporation organized under the laws of the Republic of Argentina (“Agrology”);

 

  (v) Consultores Assets Management S.A., a limited liability company organized under the laws of Argentina (“CAM”);

 

  (vi) Consultores Venture Capital Limited, a limited liability company organized under the laws of Cayman Island (“CVC Cayman”);

 

  (vii) Consultores Venture Capital Uruguay S.A., a limited liability company organized under the laws of the Republic of Uruguay (“CVC Uruguay”);

 

  (viii) Agroinvestment S.A., a stock corporation organized under the laws of the Republic of Uruguay (“Agroinvestment”);

 

  (ix) Dolphin Fund PLC, a limited liability company organized under the laws of the Isle of Man (“Dolphin”);

 

  (x) Inversora Bolívar S.A., a stock corporation organized under the laws of the Argentina(“IBOSA”),

 

  (xi) Tyrus S.A., a stock corporation organized under the laws of the Republic of Uruguay, who serves as general partner of Real Estate Investment Group L.P (“Tyrus”)

 

  (xii) IRSA, Inversiones y Representaciones Sociedad Anónima, a stock corporation organized under the laws of the Republic of Argentina (“IRSA”), and

 

  (xiii) Real Estate Investment Group L.P., a limited partnership organized under the laws of Bermuda (“REIG”, together with Elsztain, IFIS, IFISA, Cresud, Agrology, CAM, CVC Cayman, CVC Uruguay Agroinvestment, Dolphin, IBOSA, REIG, IRSA and Tyrus, the “Reporting Persons”).
 
 


CUSIP No. 427825104     Page 17 of 30 Pages

 

Elsztain’s principal offices are located at Bolívar 108, 1st floor, Buenos Aires, Argentina; IFIS’ principal offices are located at Washington Mall West, 2nd Floor; 7 Reid Street, Hamilton HM 11, Bermuda; IFISA’s principal offices are located at Ruta 8, 17,500, Edificio @3, local 003, CP 91609, Montevideo, Republic of Uruguay; Cresud’s principal offices are located at Moreno 877, 23rd Floor, (C1091AAQ) Ciudad Autónoma de Buenos Aires, Argentina; Agrology’s principal offices are located at Moreno 877, 21st floor (C1091AAQ), Buenos Aires, Argentina; CAM’s principal offices are located at Bolívar 108, 1st floor, Buenos Aires, Argentina; CVC Cayman’s principal offices are located at Regatta Office Park, P.O. Box 31106, SMB, Grand Cayman, Cayman Islands; CVC Uruguay’s principal offices are located at Ruta 8, 17,500, Edificio @3, local 003, CP 91609 Montevideo, of the Republic of Uruguay; Agroinvestment’s principal offices are located at Colonia 810, Of. 803, CP 11000, Montevideo, Republic of Uruguay; Dolphin’s principal offices are located at Chamberlain Fund Services Limited (Manager) Chamberlain Fund Services Ltd. 3rd Floor, 54-62 Athol Street, Douglas, Isle of Man IM1 1JE; IBOSA’s principal offices are located at Bolívar 108, 1st floor, Buenos Aires, Argentina; REIG principal offices are located at Claredon House 2, Church Street, Hamilton HM CX, Bermuda, IRSA’s principal offices are located at Bolivar 108, 1st Floor, Buenos Aires, Argentina, and Tyrus’ principal offices are located at Colonia 810, Of. 403, CP 11000, Montevideo, Republic of Uruguay. Due to the fact that Mr. Elsztain may be deemed the beneficial owner of each of the Reporting Persons, the Reporting Persons report their direct and indirect ownership of common shares as “shared” voting and dispositive power.

(d) None of the Reporting Persons nor, to their knowledge, any person named in Schedule A hereto, has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) within the last five years.

(e) During the last five years, none of the Reporting Persons nor, to their knowledge, any person named in Schedule A hereto, has been a party to any civil proceeding of a judicial or administrative body of competent jurisdiction as a result of which any such person was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation of such laws.

 

Item 3. Source and Amount of Funds or Other Considerations

As of August 4, 2009, the HHT’s common shares beneficially owned by the Reporting Persons consisted of 11,909,587 Common Shares, representing 19.68% of HHT’s outstanding Class A Common Shares (based on the number of shares outstanding as of June 30, 2009).

The funds used to purchase the Common Shares were derived from working capital and capital contributions made by affiliates.

 

Item 4. Purpose of Transaction.

Since March 3, 2009, the Reporting Persons have acquired 644,041 Common Shares in the open market, representing 1.17% of HHT’s outstanding share capital.

Additionally, on August 4, 2009, the Reporting Persons have acquired 5,700,000 Common Shares through the execution of a stock purchase agreement and an option to purchase up to 5,700,000 additional Common Shares. For more information, please see Item 6 below.

Neither the Reporting Persons nor, to their knowledge, any person named in Schedule A, has any present plans or proposals that relate to or would result in any of the actions described in subparagraphs (a) through (j) of Item 4 of Schedule 13D.


CUSIP No. 427825104     Page 18 of 30 Pages

 

Item 5. Interests in Securities of the Issuer

 

(a) As of August 4, 2009, the Reporting Persons beneficially owned 11,909,587 Common Shares, representing 19.68 % of its outstanding Class A Common Shares including 5,700,000 Common Shares issuable to the Reporting Persons pursuant to an option exercisable at any time on or before August 4, 2014.

The following is a description of the Reporting Persons’ beneficial ownership of HHT’s outstanding stock as August 4, 2009:

 

Shareholder

   Number of Common
Shares Currently
Owned
   % of Currently
Outstanding Common
Shares
 

Reporting Persons

   11,909,587    19.68

Total HHT Outstanding Shares(1)

   60,529,932    100
 
  (1) The number of total shares outstanding assumes that the option granted to REIG is fully exercised and no other securities exercisable or convertible into Class A Common Shares are exercised or converted.

 

  (i) Elsztain is the Chairman of the Board of Directors of IFIS, IFISA, Cresud, Dolphin, CAM, CVC Uruguay, CVC Cayman, Agroinvestment, IRSA and Tyrus, except for Agrology, a company 97% of Cresud, IBOSA, a company 100% of IRSA and REIG, a company in which Tyrus (a company wholly owned by IRSA) is the General Partner.

 

  (ii) Elsztain is the beneficial owner of 37.81 % of IFIS, including: (a) 15.99% owned indirectly through Agroinvestment, (b) 11.05% owned indirectly through CVC Uruguay, (c) 10.65 % owned indirectly through Dolphin and (d) 2.08% owned indirectly through CVC Cayman. Elsztain owns 85.0% of CAM which owns 100% of CVC Uruguay which in turn owns 100% of CVC Cayman. None of these companies own directly HHT’s Common Shares.

 

  (iii) CVC Cayman serves as the Investment Manager of Dolphin and IFIS.

 

  (iv) IFIS is the direct owner of 100% of the common shares of IFISA.

 

  (v) IFISA directly owns 0.42% of IRSA’s outstanding stock and 34.78 % of Cresud’s shares on a fully diluted basis. IFISA does not directly own HHT’s Common Shares.

 

  (vi) Cresud directly owns 50.23% of IRSA’s common shares. Cresud does not directly own HHT’s Common Shares.

 

  (vii) Agrology directly owns 6.89% of IRSA’s outstanding stock. Agrology does not directly own HHT’s Common Shares.

 

  (viii) IRSA owns 100% of IBOSA’s capital stock, 100% of Tyrus’ capital stock and 318,887 Common Shares of HHT.

 

  (ix) IBOSA owns 190,700 Common Shares of HHT.

 

  (x) Tyrus serves as general Partner of REIG.

 

  (xi) REIG owns 5,700,000 Common Shares of HHT and has the option to purchase up to 5,700,000 Common Shares of HHT.


CUSIP No. 427825104     Page 19 of 30 Pages

 

Set forth below is a diagram of the Reporting Persons’ beneficial ownership of HHT’s outstanding stock as of August 4, 2009:

LOGO


CUSIP No. 427825104     Page 20 of 30 Pages

 

Given the foregoing, the Reporting Persons may be deemed to be the beneficial owners of 11,909,587 Common Shares, representing 19.68% of the issued and outstanding common shares of HHT, as of August 4, 2009.

 

(c)   Item 5(a) is incorporated herein by reference.
(d)   Transactions by the Reporting Persons or other persons named in Schedule A, attached hereto, in HHT’s common shares that were effected during the transaction period are listed on Annex I.
(d)-(e)   Not applicable.

 

Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.

Purchase Agreement; Sale of Common Shares: On August 4, 2009, HHT and Hersha Hospitality Limited Partnership, L.P. (the “Operating Partnership”) entered into a Purchase Agreement (the “Purchase Agreement”) with Real Estate Investment Group L.P., a Bermuda limited partnership (“REIG”), pursuant to which the Company sold 5,700,000 shares (the “Primary Shares”) of the Company’s Class A common shares of beneficial interest to REIG at a price of $2.50 per share.

The Declaration of Trust of the Company prohibits beneficial or constructive ownership by any person of more than 9.9% in value of any class of stock of the Company (the “Ownership Limit”). The Company has agreed to waive the Ownership Limit applicable to REIG in connection with the transactions contemplated by the Purchase Agreement in accordance with the provisions in the Declaration of Trust of the Company that permit such a waiver provided that REIG does not beneficially or constructively own more than 24% of the Common Shares of the Company.

The Purchase Agreement is attached to HHT’s Current Report on Form 8-K, which HHT filed with the Securities and Exchange Commission on August 6, 2009, as Exhibit 10.1 and is incorporated in this Schedule 13D by this reference.

Investor Rights and Option Agreement: In connection with the Purchase Agreement, the Company also entered into an Investor Rights and Option Agreement (the “Investor Rights and Option Agreement”) with REIG and IRSA pursuant to which the Company granted REIG the option (the “Option”) to buy up to an additional 5,700,000 Class A common shares (the “Option Shares”) at a price of $3.00 per share (the “Option Price”). The Option is exercisable at any time prior to August 4, 2014. If at any time after August 4, 2011 the closing price for the Company’s Class A common shares on the New York Stock Exchange exceeds $5.00 for 20 consecutive trading days, the Company may call in and cancel the Option (the “Call Option”) in exchange for the issuance to REIG of Class A common shares with an aggregate value equal to the volume weighted average price per Class A common share for the 20 trading days prior to the exercise of the Call Option, less the Option Price, multiplied by the number of Class A common shares remaining under the Option. The Investor Rights and Option Agreement also grants REIG certain preemptive rights to participate in future issuances of equity securities by the Company for so long as REIG beneficially owns at least 5% of the outstanding Class A common shares of the Company.

The Investor Rights and Option Agreement is attached to HHT’s Current Report on Form 8-K , which HHT filed with the Securities and Exchange Commission on August 6, 2009, as Exhibit 10.2 and is incorporated in this Schedule 13D by this reference.

Registration Rights Agreement: Also in connection with the Purchase Agreement, the Company entered into a registration rights agreement (the “Registration Rights Agreement”) with REIG and IRSA. The Registration Rights Agreement requires the Company to register on Form S-3 by December 1, 2009 the Primary Shares and the Option Shares issuable upon exercise of the Option. The Registration Rights Agreement also grants REIG the right to participate in certain future underwritten offerings of securities by the Company.

The Registration Rights Agreement is attached to HHT’s Current Report on Form 8-K , which HHT filed with the Securities and Exchange Commission on August 6, 2009, as Exhibit 10.3 and is incorporated in this Schedule 13D by this reference.

Trustee Designation Agreement: In connection with the other transactions described in this Current Report, the Company entered into a Trustee Designation Agreement (the “Trustee Designation Agreement”) with REIG and IRSA pursuant to which the Company will appoint Eduardo S. Elsztain, Chairman of IRSA, to the Board of Trustees of the Company (the “Board of Trustees”) as a Class II trustee. The Trustee Designation Agreement also permits IRSA to designate one of two non-voting observers to attend any meeting of the Board of Trustees if Mr. Elsztain is unable to attend. For so long as REIG beneficially owns at least 10% of the outstanding Class A common shares of the Company, the Company has agreed to recommend to the shareholders the election of Mr. Elsztain or a qualified replacement to the Board of Trustees.

The Trustee Designation Agreement is attached to HTT’s Current Report on Form 8-K, which HHT filed with the Securities and Exchange Commission on August 6, 2009, as Exhibit 10.4 and is incorporated herein by this reference.

Each of the foregoing summaries in this Item 7 is qualified in its entirety by reference to the full agreements, each of which is incorporated herein by reference to HHT’s Current Report on Form 8-K , which was filed with the Securities and Exchange Commission on August 6, 2009.

 

Item 7. Material to be filed as Exhibits

 

Exhibit No.

  

Description

10.1

   Purchase Agreement, dated August 4, 2009, by and among Hersha Hospitality Trust, Hersha Hospitality Limited Partnership and Real Estate Investment Group L.P. (incorporated by reference to HHT’s Current Report on Form 8-K, which was filed by HHT with the Securities and Exchange Commission on August 6, 2009).

10.2

   Investor Rights and Option Agreement, dated August 4, 2009, by and among Hersha Hospitality Trust, Real Estate Investment Group L.P. and IRSA Inversiones y Representaciones Sociedad Anónima (incorporated by reference to HHT’s Current Report on Form 8-K, which was filed by HHT with the Securities and Exchange Commission on August 6, 2009).

10.3

   Registration Rights Agreement, dated August 4, 2009, by and among Hersha Hospitality Trust, Real Estate Investment Group L.P. and IRSA Inversiones y Representaciones Sociedad Anónima (incorporated by reference to HHT’s Current Report on Form 8-K, which was filed by HHT with the Securities and Exchange Commission on August 6, 2009).

10.4

   Trustee Designation Agreement, dated July [31], 2009, by and among Hersha Hospitality Trust, Real Estate Investment Group L.P. and IRSA Inversiones y Representaciones Sociedad Anónima (incorporated by reference to HHT’s Current Report on Form 8-K, which was filed by HHT with the Securities and Exchange Commission on August 6, 2009).


CUSIP No. 427825104     Page 21 of 30 Pages

 

Schedule A

Eduardo S. Elsztain

Bolívar 108, 1st floor

(1066) Buenos Aires

Republic of Argentina

Citizen of Argentina

Directors of IFIS Limited

 

1.   

Eduardo S. Elsztain

Director

Washington Mall West, 7 Reid Street,

Hamilton HM 11,

Bermuda.

Citizen of Argentina

   4.   

Mariana Renata Carmona de Elsztain

Director

Washington Mall West, 7 Reid Street,

Hamilton HM 11,

Bermuda.

Citizen of Argentina

2.   

Saul Zang

Director

Washington Mall West, 7 Reid Street,

Hamilton HM 11,

Bermuda.

Citizen of Argentina

   5.   

Alejandro Gustavo Elsztain

Director

Washington Mall West, 7 Reid Street,

Hamilton HM 11,

Bermuda.

Citizen of Argentina

3.   

Joseph Steinberg

Director

Washington Mall West, 7 Reid Street,

Hamilton HM 11,

Bermuda.

Citizen of the United States

     

Directors of Consultores Venture Capital Uruguay

 

1.   

Eduardo S. Elsztain (Chairman)

Director

Ruta 8K 17.500 Edificio@3 Local 003,

CP 91609 Montevideo

Republic of Uruguay

Citizen of Argentina

   3.   

Olga Stirling

Director

Ruta 8K 17.500 Edificio@3 Local 003,

CP 91609 Montevideo

Citizen of Uruguay

2.   

Eduardo Simon Bartfeld

Director

Ruta 8K 17.500 Edificio@3 Local 003,

CP 91609 Montevideo

Citizen of Uruguay

     


CUSIP No. 427825104     Page 22 of 30 Pages

 

Directors of Consultores Assets Management S.A.

 

1.   

Eduardo S. Elsztain (Chairman)

Director

Bolívar 108, 1st floor

(1066) Buenos Aires

Republic of Argentina

Citizen of Argentina

   3.   

Oscar Bergotto

Director

Bolívar 108, 1st floor

(1066) Buenos Aires

Republic of Argentina

Citizen of Argentina

2.   

Saul Zang

Director

Bolívar 108, 1st floor

(1066) Buenos Aires

Republic of Argentina

Citizen of Argentina

     

Directors of Consultores Venture Capital Limited

 

1.   

Eduardo S. Elsztain (Chairman)

Director

Regatta Office Park,

P.O. Box 31106, SMB,

Grand Cayman, Cayman

Citizen of Argentina

2.   

Saul Zang

Director

Regatta Office Park,

P.O. Box 31106, SMB,

Grand Cayman, Cayman

Citizen of Argentina

Directors of Dolphin Fund PLC

 

1.   

Eduardo Sergio Elsztain (Chairman)

3rd Floor, Exchange House

54-62 Athol Street

Douglas - Isle of Man IM1 1JD

Citizen of Argentina

   4.   

Saul Zang

3rd Floor, Exchange House

54-62 Athol Street

Douglas - Isle of Man IM1 1JD

Citizen of Argentina

2.   

Gary Gladstein

3rd Floor, Exchange House

54-62 Athol Street

Douglas - Isle of Man IM1 1JD

Citizen of USA

   5.   

Mario Blejer

3rd Floor, Exchange House

54-62 Athol Street

Douglas - Isle of Man IM1 1JD

Citizen of Argentina


CUSIP No. 427825104     Page 23 of 30 Pages

 

3.   

Elizabeth Tansell

3rd Floor, Exchange House

54-62 Athol Street

Douglas - Isle of Man IM1 1JD

Citizen of Isle of Man

   6.   

Directors of Inversiones Financieras del Sur S.A.

 

1.   

Eduardo S. Elsztain

Chairman of the Board

Zabala 1422, 2nd floor

(11500) Montevideo

Republic of Uruguay

Citizen of Argentina

   3.   

Eduardo Simon Bartfeld

Director

Zabala 1422, 2nd floor

(11500) Montevideo

Citizen of Uruguay

2.   

Saúl Zang

Director

Zabala 1422, 2nd floor

(11500) Montevideo

Citizen of Argentina

   4.   

Olga Stirling

Director

Zabala 1422, 2nd floor

(11500) Montevideo

Citizen of Uruguay

Directors of Agroinvestment S.A.

 

1.   

Eduardo S. Elsztain

Chairman of the Board

Colonia 810, Of. 803

(11000) Montevideo

Republic of Uruguay

Citizen of Argentina

   3.   

Eduardo Simon Bartfeld

Director

Colonia 810, Of. 803

(11000) Montevideo

Citizen of Uruguay

2.   

Mariana Renata Carmona de Elsztain

Director

Colonia 810, Of. 803

(11000) Montevideo

Republic of Uruguay

Citizen of Argentina

     

Directors and Executive Officers of

Cresud Sociedad Anónima Comercial, Inmobiliaria, Financiera y Agropecuaria

Directors

 

1.   

Eduardo Sergio Elsztain

Director

Moreno 877, 23rd floor

(C1091AAQ) Buenos Aires

Republic of Argentina

Citizen of Argentina

   9.   

Daniel E. Melicovsky

Director

Moreno 877, 23rd floor

(C1091AAQ) Buenos Aires

Republic of Argentina

Citizen of Argentina


CUSIP No. 427825104     Page 24 of 30 Pages

 

2.   

Saúl Zang

Director

Moreno 877, 23rd floor

(C1091AAQ) Buenos Aires

Republic of Argentina

Citizen of Argentina

   10.   

Alejandro Casaretto

Director

Moreno 877, 23rd floor

(C1091AAQ) Buenos Aires

Republic of Argentina

Citizen of Argentina

3.   

Alejandro Gustavo Elsztain

Director

Moreno 877, 23rd floor

(C1091AAQ) Buenos Aires

Republic of Argentina

Citizen of Argentina

   11.   

Salvador Darío Bergel

Alternate Director

Moreno 877, 23rd floor

(C1091AAQ) Buenos Aires

Republic of Argentina

Citizen of Argentina

4.   

Gabriel Adolfo Reznik

Director

Moreno 877, 23rd floor

(C1091AAQ) Buenos Aires

Republic of Argentina

Citizen of Argentina

   12.   

Juan Carlos Quintana Terán

Alternate Director

Moreno 877, 23rd floor

(C1091AAQ) Buenos Aires

Republic of Argentina

Citizen of Argentina

5.   

Jorge Oscar Fernández

Director

Moreno 877, 23rd floor

(C1091AAQ) Buenos Aires

Republic of Argentina

Citizen of Argentina

   13.   

Gastón Armando Lernoud

Alternate Director

Moreno 877, 23rd floor

(C1091AAQ) Buenos Aires

Republic of Argentina

Citizen of Argentina

6.   

Fernando Adrián Elsztain

Director

Moreno 877, 23rd floor

(C1091AAQ) Buenos Aires

Republic of Argentina

Citizen of Argentina

   14.   

Enrique Antonini

Alternate Director

Moreno 877, 23rd floor

(C1091AAQ) Buenos Aires

Republic of Argentina

Citizen of Argentina

7.   

Pedro Damaso Labaqui Palácio

Director

Moreno 877, 23rd floor

(C1091AAQ) Buenos Aires

Republic of Argentina

Citizen of Argentina

   15.   

Eduardo Kalpakian

Alternate Director

Moreno 877, 23rd floor

(C1091AAQ) Buenos Aires

Republic of Argentina

Citizen of Argentina

8.   

David Alberto Perednik

Director

Moreno 877, 23rd floor

(C1091AAQ) Buenos Aires

Republic of Argentina

Citizen of Argentina

     


CUSIP No. 427825104     Page 25 of 30 Pages

 

Senior Management

 

1.   

Alejandro Gustavo Elsztain

Chief Executive Officer

Moreno 877, 23rd floor

(C1091AAQ) Buenos Aires

Republic of Argentina

Citizen of Argentina

   4.   

David A. Perednik

Chief Administrative Officer

Moreno 877, 23rd floor

(C1091AAQ) Buenos Aires

Republic of Argentina

Citizen of Argentina

2.   

Gabriel Blasi

Chief Financial Officer

Moreno 877, 23rd floor

(C1091AAQ) Buenos Aires

Republic of Argentina

Citizen of Argentina

   5.   

Alejandro Casaretto

Regional Manager of Agricultural Real Estate

Moreno 877, 23rd floor

(C1091AAQ) Buenos Aires

Republic of Argentina

Citizen of Argentina

3.   

Alejandro Bartolomé

Chief Executive Officer of the Argentine

Operation

Moreno 877, 23rd floor

(C1091AAQ) Buenos Aires

Republic of Argentina

Citizen of Argentina

   6.   

Carlos Blousson

Chief Executive Officer of the International

Operation (Paraguay, Bolivia and Uruguay)

Moreno 877, 23rd floor

(C1091AAQ) Buenos Aires

Republic of Argentina

Citizen of Argentina

Agrology S.A.

 

1.   

Alejandro G. Elsztain

Chairman of the Board

Moreno 877, 21st floor

(C1091AAQ) Buenos Aires

Republic of Argentina

Citizen of Argentina

   3.   

Gastón A. Lernoud

Director

Moreno 877, 21st floor

(C1091AAQ) Buenos Aires

Republic of Argentina

Citizen of Argentina

2.   

Saul Zang

Director

Moreno 877, 2st floor

(C1091AAQ) Buenos Aires

Republic of Argentina

Citizen of Argentina

     

Directors and Executive Officers of

IRSA Inversiones y Representaciones Sociedad Anónima

Directors

 

1.   

Eduardo Sergio Elsztain

Director

Bolívar 108, 1 floor

(C1066AAD) Buenos Aires

Republic of Argentina

Citizen of Argentina

   11.   

Mauricio Wior

Director

Bolívar 108, 1 floor

(C1066AAD) Buenos Aires

Republic of Argentina

Citizen of Argentina


CUSIP No. 427825104     Page 26 of 30 Pages

 

2.   

Saul Zang

Director

Bolívar 108, 1 floor

(C1066AAD) Buenos Aires

Republic of Argentina

Citizen of Argentina

   12.   

Mario Blejer

Director

Bolívar 108, 1 floor

(C1066AAD) Buenos Aires

Republic of Argentina

Citizen of Argentina

3.   

Alejandro Gustavo Elsztain

Director

Bolívar 108, 1 floor

(C1066AAD) Buenos Aires

Republic of Argentina

Citizen of Argentina

   13.   

Ricardo Liberman

Director

Bolívar 108, 1 floor

(C1066AAD) Buenos Aires

Republic of Argentina

Citizen of Argentina

4.   

Oscar P Bergotto

Director

Bolívar 108, 1 floor

(C1066AAD) Buenos Aires

Republic of Argentina

Citizen of Argentina

   14.   

Gabriel A. Reznik

Director

Bolívar 108, 1 floor

(C1066AAD) Buenos Aires

Republic of Argentina

Citizen of Argentina

5.   

Fernando Adrián Elsztain

Director

Bolívar 108, 1 floor

(C1066AAD) Buenos Aires

Republic of Argentina

Citizen of Argentina

   15.   

Salvador D. Bergel

Alternate Director

Bolívar 108, 1 floor

(C1066AAD) Buenos Aires

Republic of Argentina

Citizen of Argentina

6.   

Carlos Ricardo Estevez

Director

Bolívar 108, 1 floor

(C1066AAD) Buenos Aires

Republic of Argentina

Citizen of Argentina

   16.   

Juan C. Quintana Terán

Alternate Director

Bolívar 108, 1 floor

(C1066AAD) Buenos Aires

Republic of Argentina

Citizen of Argentina

7.   

Cedric D. Bridger

Director

Bolívar 108, 1 floor

(C1066AAD) Buenos Aires

Republic of Argentina

Citizen of Argentina

   17.   

Emilio Cárdenas

Alternate Director

Bolívar 108, 1 floor

(C1066AAD) Buenos

Aires Republic of Argentina

Citizen of Argentina

8.   

Marcos Moisés Fishman

Director

Bolívar 108, 1 floor

(C1066AAD) Buenos Aires

Republic of Argentina

Citizen of Argentina

   18.   

Enrique Antonini

Alternate Director

Bolívar 108, 1 floor

(C1066AAD) Buenos Aires

Republic of Argentina

Citizen of Argentina


CUSIP No. 427825104     Page 27 of 30 Pages

 

9.   

Fernando Rubín

Director

Bolívar 108, 1 floor

(C1066AAD) Buenos Aires

Republic of Argentina

Citizen of Argentina

   19.   

Daniel R. Elsztain

Alternate Director

Bolívar 108, 1 floor

(C1066AAD) Buenos Aires

Republic of Argentina

Citizen of Argentina

10.   

Gary S. Gladstein

Director

Bolívar 108, 1 floor

(C1066AAD) Buenos Aires

Republic of Argentina

Citizen of USA

     

Senior Management

 

1.   

Eduardo Sergio Elsztain

Chief Executive Officer

Moreno 877, 23rd floor

(C1091AAQ) Buenos Aires

Republic of Argentina

Citizen of Argentina

   4.   

Jorge Cruces

Chief Real Estate Officer

Moreno 877, 23rd floor

(C1091AAQ) Buenos Aires

Republic of Argentina

Citizen of Argentina

2.   

Gabriel Blasi

Chief Financial Officer

Moreno 877, 23rd floor

(C1091AAQ) Buenos Aires

Republic of Argentina

Citizen of Argentina

   5.   

Daniel R. Elsztain

Chief Real Estate Business Officer

Moreno 877, 23rd floor

(C1091AAQ) Buenos Aires

Republic of Argentina

Citizen of Argentina

3.   

David Alberto Perednik

Chief Administrative Officer

Moreno 877, 23rd floor

(C1091AAQ) Buenos Aires

Republic of Argentina

Citizen of Argentina

     

Inversora Bolívar S.A.

 

1.   

Fernando Adrián Elsztain

Chairman of the Board

Bolívar 108, 1 floor

(C1066AAD) Buenos Aires

Republic of Argentina

Citizen of Argentina

   4.   

Saul Zang

Director

Bolívar 108, 1st floor

(1066) Buenos Aires

Republic of Argentina

Citizen of Argentina

2.   

Alejandro Gustavo Elsztain

Vice Chairman of the Board

Bolívar 108, 1 floor

(C1066AAD) Buenos Aires

Republic of Argentina

Citizen of Argentina

   5.   

Gastón A. Lernoud

Director

Bolívar 108, 1st floor

(1066) Buenos Aires

Republic of Argentina

Citizen of Argentina


CUSIP No. 427825104     Page 28 of 30 Pages

 

3.   

Oscar Bergotto

Director

Bolívar 108, 1st floor

(1066) Buenos Aires

Republic of Argentina

Citizen of Argentina

   6.   

David Alberto Perednik

Director

Bolívar 108, 1st floor

(1066) Buenos Aires

Republic of Argentina

Citizen of Argentina

Tyrus S.A.

 

3.   

Eduardo S. Elsztain

Chairman of the Board

Colonia 810, Of. 403

(11000) Montevideo

Republic of Uruguay

Citizen of Argentina

   3.   

Alejandro Gustavo Elsztain

Director

Colonia 810, Of. 403

(11000) Montevideo

Citizen of Uruguay

4.   

Saúl Zang

Director

Colonia 810, Of. 403

(11000) Montevideo

Republic of Uruguay

Citizen of Argentina

     


CUSIP No. 427825104     Page 29 of 30 Pages

 

Transactions by the Reporting Persons or persons named in Schedule A in Shares

that were effected during the last 60 days

Annex 1

IRSA’s transactions in HHT Shares

 

Tran Type

   Trade Date    Quantity (Units)    Price per Unit    Place

Sell

   6/12/2009    34,054    $ 2.9548    NASDAQ


CUSIP No. 427825104     Page 30 of 30 Pages

 

SIGNATURE

After reasonable inquiry and to the best of his knowledge and belief, the undersigned certifies that the information set forth in this Statement on Schedule 13D is true, complete and correct.

DATED: August 14, 2009

 

Eduardo S. Elsztain    Consultores Assets Management S.A.
By:  

/S/ Eduardo S. Elsztain

   By:  

/S/ Eduardo S. Elsztain

Name:   Eduardo S. Elsztain    Name:   Eduardo S. Elsztain
     Title:   Chairman of the Board
IFIS Limited    Consultores Venture Capital Limited
By:  

/S/ Eduardo S. Elsztain

   By:  

/S/ Eduardo S. Elsztain

Name:   Eduardo S. Elsztain    Name:   Eduardo S. Elsztain
Title:   Chairman of the Board    Title:   Chairman of the Board
Inversiones Financieras del Sur S.A.   

Cresud Sociedad Anónima Comercial,

Inmobiliaria, Financiera y Agropecuaria

By:  

/S/ Eduardo S. Elsztain

   By:  

/S/ Eduardo S. Elsztain

Name:   Eduardo S. Elsztain    Name:   Eduardo S. Elsztain
Title:   Chairman of the Board    Title:   Chairman of the Board
     By:  

/S/ Saúl Zang

     Name:   Saúl Zang
     Title:   Attorney at Law
Consultores Venture Capital Uruguay    Agrology S.A.
By:  

/S/ Eduardo S. Elsztain

   By:  

/S/ Alejandro G. Elsztain

Name:   Eduardo S. Elsztain    Name:   Alejandro G. Elsztain
Title:   Chairman of the Board    Title:   Chairman of the Board
Tyrus S.A.    Agroinvestment S.A.
By:  

/S/ Eduardo S. Elsztain

   By:  

/S/ Eduardo S. Elsztain

Name:   Eduardo S. Elsztain    Name:   Eduardo S. Elsztain
Title:   Chairman of the Board    Title:   Chairman of the Board
Real Estate Investment Group L.P.    Inversora Bolívar S.A.
By:   Tyrus S.A., its general partner    By:  

/S/ Fernando Adrián Elsztain

By:  

/S/ Eduardo S. Elsztain

   Name:   Fernando Adrián Elsztain
Name:   Eduardo S. Elsztain    Title:   Chairman of the Board
Title:   Chairman of the Board     
Dolphin Fund PLC    IRSA Inversiones y Representaciones Sociedad Anónima
By:  

/S/ Eduardo S. Elsztain

   By:  

/S/ Eduardo S. Elsztain

Name:

  Eduardo S. Elsztain   

Name:

  Eduardo S. Elsztain

Title:

  Chairman of the Board    Title:   Chairman of the Board