SOURCE: Supertel Hospitality, Inc.

Supertel Hospitality, Inc.

March 22, 2013 16:30 ET

Patrick Beans Joins Supertel Hospitality, Inc. as Senior Vice President and Treasurer

NORFOLK, NE--(Marketwire - Mar 22, 2013) - Supertel Hospitality, Inc. (NASDAQ: SPPR), a real estate investment trust (REIT), today announced that Patrick E. Beans has joined the company as senior vice president and treasurer. He replaces David L. Walter who has retired from the company.

Beans will be responsible for all treasury functions, financial analysis, bank relations, SEC compliance matters and investor relations.

"Patrick brings broad-based financial expertise with both publicly and privately held companies, coupled with a strong background in finance and accounting," said Kelly Walters, Supertel president and CEO. "He is the perfect successor to Dave Walter who played a key role in developing and executing our company's business strategy. Patrick is uniquely suited to the opportunities ahead of us."

Previously, Beans was senior vice president and CFO of National Research Corporation, a NASDAQ-listed, healthcare service company where he was responsible for financial planning/analysis, accounting, SEC compliance and reporting, investor relations, treasury, risk management and mergers and acquisitions. He is a former finance director of the Central Interstate Low-Level Radioactive Waste Commission, a five-state joint government organization. He began his career with Dana F. Cole & Company, a Certified Public Accounting firm.

Beans is a Certified Public Accountant and serves on the administrative board of Lincoln Electric System. He holds a Bachelor of Science degree in Business Accounting and Political Science from Doane College in Crete, Nebraska.

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

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.

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