SOURCE: Supertel Hospitality, Inc.

December 04, 2007 11:22 ET

Supertel Hospitality, Inc. Announces 13th Dividend Increase in Five Years

NORFOLK, NE--(Marketwire - December 4, 2007) - Supertel Hospitality, Inc. (NASDAQ: SPPR), a real estate investment trust (REIT) which owns 115 hotels in the limited-service, economy and economy extended-stay sectors, today announced that the company's board of directors approved a 1/4-cent increase in the quarterly common stock dividend to $0.12 3/4. The dividend is payable on February 1, 2008 to shareholders of record on December 31, 2007.

Beginning with the 2003 first quarter, the company has increased its quarterly common stock dividend 13 times. Based on the price of the common shares at the close of business on November 30, 2007, the annualized dividend represents a yield of approximately 8.4 percent. "This increase reflects our board's confident outlook for both the hotel industry and the company," said Paul J. Schulte, chairman, president and CEO of Supertel Hospitality, Inc.

About Supertel Hospitality, Inc.

As of November 30, 2007, Supertel Hospitality, Inc. (NASDAQ: SPPR) owns 115 hotels with 10,165 rooms located in 24 states. The company's hotel portfolio includes Super 8, Comfort Inn/Comfort Suites, Hampton Inn, Holiday Inn Express, Supertel Inn, Days Inn, Ramada Limited, Guest House Inn, Sleep Inn, Masters Inn and Savannah Suites. This diversity enables the company to participate in the best practices of each of these respected hospitality partners. The company's portfolio concentrates on mid-market and economy limited-service hotels and economy extended-stay hotels, which typically do not offer food and beverage service. For additional information about the company or to make a hotel reservation, please visit the company's Web site,

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:
    Donavon A. Heimes
    Supertel Hospitality, Inc.
    Chief financial officer
    Email Contact

    Jerry Daly
    Carol McCune
    Daly Gray
    (Media contact)
    Email Contact