Contact Information: Contact: Donavon A. Heimes Supertel Hospitality, Inc. Chief financial officer 402.371.2520 Jerry Daly Carol McCune Daly Gray (Media contact) 703.435.6293
Supertel Hospitality, Inc. Announces 13th Dividend Increase in Five Years
| Source: Supertel Hospitality, Inc.
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, 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.