Supertel Hospitality, Inc. Announces Sale of Two Economy Hotels

Thu Feb 14, 2013 12:37pm EST

* Reuters is not responsible for the content in this press release.

  NORFOLK, NE, Feb 14 (Marketwire) -- 
Supertel Hospitality, Inc. (NASDAQ: SPPR), a real estate investment trust
(REIT), today announced that it sold the 63-room Guesthouse Inn in
Ellenton, Florida for $1.26 million, and the 120-room Days Inn North in
Fredericksburg, Virginia for $2.05 million. Supertel purchased the
Ellenton Guesthouse property in June 1998 as part of a three hotel
portfolio. The Fredericksburg (North) Days Inn was purchased in July
2007. The hotels were no longer classified as core assets primarily due
to age and chain scale classification. The company will use the proceeds
to reduce corporate debt and for general corporate purposes. 

    The sale of the hotels demonstrates the company's continued commitment to
the business plan which calls for the divesture of non-core properties to
provide funding for the acquisition of premium-branded, select-service
hotels. 

    About Supertel Hospitality, Inc.

    Supertel Hospitality, Inc. (NASDAQ: SPPR) is a self-administered real
estate investment trust that specializes in the ownership of
select-service hotels. The company currently owns 84 hotels comprising
7,431 rooms in 22 states. Supertel's hotels are franchised by a number of
the industry's most well-regarded brand families, including Hilton,
Choice and Wyndham. For more information or to make a hotel reservation,
visit www.supertelinc.com. 

    Certain matters within this press release are discussed using
forward-looking language as specified in the Private Securities
Litigation Reform Act of 1995, and, as such, may involve known and
unknown risks, uncertainties and other factors that may cause the actual
results or performance to differ from those projected in the
forward-looking statement. These risks are discussed in the company's
filings with the Securities and Exchange Commission. 

    

Contact:
Ms. Krista Arkfeld 
Director of Corporate Communications 
karkfeld@supertelinc.com 

Copyright 2013, Marketwire, All rights reserved.

-0-
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.