PGRT ESH, INC. 77 West Wacker Drive Suite 3900 Chicago, Illinois 60601 December 31, 2008

EXECUTION VERSION

EXHIBIT 10.72

PGRT ESH, INC.
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December 31, 2008

Citicorp USA, Inc.
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Re: First Amendment to Loan Agreement dated as of October 31, 2008

Ladies and Gentlemen:

Reference is made to the First Amendment to Loan Agreement dated as of October 31, 2008 (the “Amendment”) among PGRT ESH, Inc. (the “Borrower”), Lightstone Holdings LLC, ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇▇ (together with Lightstone Holdings LLC and the Borrower, the “Loan Parties”), and Citicorp USA, Inc. (the “Lender”).

The Loan Parties have requested the extension of the Forbearance Period (as defined in the Amendment) from December 31, 2008 until January 30, 2009 to allow the consummation of the sale, by ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇ II, L.L.C., of the property commonly known as180 ▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇. The Lender hereby agrees with the Loan Parties that the Amendment is amended by deleting “December 31, 2008” in Section 3 (a) thereof and substituting “January 30, 2009” therefor. In connection with such extension and as consideration therefore, the Borrower has arranged for additional collateral for the Lender in the form of pledged interests.

The Lender and Loan Parties agree that Schedule 5(a)(iii) of the Amendment is hereby amended by deleting clause 1 and clause 2 of Schedule 5(a)(iii) and renumbering clause 3 therein as clause 1.

Citicorp USA, Inc
December 31, 2008
Page 2

Except as amended hereby, the Amendment shall remain in full force and effect.

		Very truly yours,
		PGRT ESH, INC.
		By:		[s] ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇▇
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				Chairman

AGREED TO AND ACCEPTED AS OF THE DATE FIRST SET FORTH ABOVE:
Lender
CITICORP USA, INC.
By:		[s] ▇▇▇▇▇ ▇▇▇▇▇   ▇▇▇▇▇ ▇▇▇▇▇ Director
Guarantors
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LIGHTSTONE HOLDINGS LLC
By:		[s] ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇▇   ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇▇
		Managing Member

Signature page to 30 day Extension