PHILADELPHIA— Hersha Hospitality Trust entered an underwriting agreement with Citigroup Global Markets, Inc. to sell Citigroup an aggregate of 3.5 million of its common shares, raising proceeds of $32.8 million. Hersha expects to use the net proceeds of the offering to fund future acquisitions. The underwriting agreement grants Citigroup a 30-day-over-allotment option to purchase up to an additional 525,000 common shares.