SOURCE: Supertel Hospitality, Inc.
NORFOLK, NE–(Marketwire – October 26, 2010) – Supertel Hospitality, Inc. (
“We recently reclassified the Lenexa Super 8 asset as a non-core holding in our portfolio and decided to monetize the asset because it no longer met our investment criteria and our return expectations,” said Kelly Walters, Supertel’s President and CEO. “The sale of this asset and the resulting debt reduction should again serve to demonstrate to our investors that we are committed to our business plan which calls for continued balance sheet improvement by shedding underperforming assets.”
About Supertel Hospitality, Inc.
As of October 26, 2010, Supertel Hospitality, Inc. (
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.
Mr. Kelly A. Walters
President & CEO
Ms. Connie Scarpello
Sr. Vice President & CFO
Supertel Hospitality, Inc.
309 N 5th St.
Norfolk, NE 68701