TrES-3:: A nearby, massive, transiting hot Jupiter in a 31 hour orbit

We describe the discovery of a massive transiting hot Jupiter with a very short orbital period ( 1.30619 days), which we name TrES-3. From spectroscopy of the host star GSC 03089 - 00929, we measure T-eff 5720 +/- 150 K, log g = 4.6 +/- 0.3, and v sin i < 2 km s(-1) and derive a stellar mass of 0.90 +/- 0.15 M-circle dot. We estimate planetary mass of, based on the sinusoidal variation of our high- precision radial velocity 1.92 +/- 0.23 M-Jup measurements. This variation has a period and phase consistent with our transit photometry. Our spectra show no evidence of line bisector variations that would indicate a blended eclipsing binary star. From detailed modeling of our B and z photometry of the 2.5% deep transits, we determine a stellar radius and a 0.802 +/- 0.046 R-circle dot and a planetary radius 1.295 +/- 0.081 R-Jup. TrES-3 has one of the shortest orbital periods of the exoplanets, facilitating studies of orbital decay and mass loss due to evaporation, and making it an excellent target for future studies of infrared emission and reflected starlight.