NORFOLK, NE--(Marketwire - Jan 20, 2012) - Supertel Hospitality, Inc. (NASDAQ: SPPR), a real estate investment trust (REIT) which owns 99 hotels in 23 states, today announced that it closed on the sale of the 83-room Super 8 hotel in Fayetteville, AR on January 18, 2012 for $1.56 million. Proceeds from the sale were used to retire the associated mortgage and for general corporate purposes.
About Supertel Hospitality, Inc.
As of January 20, 2012, Supertel Hospitality, Inc. (NASDAQ: SPPR) owns 99 hotels comprised of 8,685 rooms in 23 states. The company's hotel portfolio includes Baymont Inn, Comfort Inn/Comfort Suites, Days Inn, Guest House Inn, Hampton Inn, Holiday Inn Express, Key West Inns, Masters Inn, Quality Inn, Ramada Limited, Savannah Suites, Sleep Inn, Super 8 and Supertel Inn. This diversity enables the company to participate in the best practices of each of these respected hospitality partners. The company specializes in limited service hotels, which do not normally offer food and beverage service. 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 Information:
Contact:
Ms. Krista Arkfeld
Director of Corporate Communications
karkfeld@supertelinc.com
Supertel Hospitality, Inc.
1800 W Pasewalk Ave, Suite 200
Norfolk, NE 68701
402-371-2520
www.supertelinc.com