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

EXECUTION VERSION

EXHIBIT 10.72

PGRT ESH, INC.
00 Xxxx Xxxxxx Xxxxx
Xxxxx 0000
Xxxxxxx, Xxxxxxxx 00000

December 31, 2008

Citicorp USA, Inc.
000 Xxxx X. Xxxxxxx Xxxxxxx
Xxxxxx Xxxxx
Xxxxx Xxxxx, Xxx Xxxxxx 00000

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, Xxxxx Xxxxxxxxxxxx (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 000 Xxxxx XxXxxxx II, L.L.C., of the property commonly known as180 Xxxxx XxXxxxx Xxxxxx, Xxxxxxx, Xxxxxxxx. 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] Xxxxx Xxxxxxxxxxxx
				Xxxxx Xxxxxxxxxxxx
				Chairman

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

Signature page to 30 day Extension