SOURCE: Supertel Hospitality, Inc.
NORFOLK, NE–(Marketwire – October 13, 2010) – Supertel Hospitality, Inc. (
“Our sale of these hotels, like every action we have taken in the past year, was guided by our business plan and designed to improve our balance sheet,” said Kelly Walters, Supertel’s President and CEO. “We are pleased to have completed the sale of these properties to hotel investors during what is still a challenging investment climate for participants in the hospitality industry. The management team at the REIT remains committed to monetizing all of the assets in our portfolio that no longer meet our investment criteria and are not contributing satisfactorily to our earnings.”
About Supertel Hospitality, Inc.
As of October 13, 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