SOURCE: Supertel Hospitality, Inc.

Supertel Hospitality, Inc.

September 03, 2010 11:25 ET

Supertel Hospitality, Inc. Announces Appointment of New Board Member

NORFOLK, NE--(Marketwire - September 3, 2010) - Supertel Hospitality, Inc. (NASDAQ: SPPR) announced that Richard A. Frandeen has joined the Board of Directors. Richard Frandeen has over 40 years of banking and real estate experience. His experience includes financing a wide variety of commercial real estate including hotel, office, retail, multifamily, senior housing and industrial projects. He retired from the First National Bank of Omaha in December 2009 after 14 years as senior vice president in charge of the bank's commercial real estate division. Mr. Frandeen is a graduate of Yale University. 

"Over the course of the last fourteen years, I have worked on numerous real estate financings with Mr. Frandeen while he was at the First National Bank of Omaha, and consistently found him to be a tough but fair lender. Not only does he possess a tremendous breadth of real estate knowledge, Dick also understands what kind of operators have the ability to succeed in a competitive environment," said Kelly Walters, Supertel's President and CEO. "Mr. Frandeen's skills and experience will complement nicely the talents already resident on our Board of Directors."

Mr. Frandeen's appointment increases the total number of directors to nine and independent directors to seven. Mr. Frandeen will also serve on the Company's compensation committee.

About Supertel Hospitality, Inc.

As of August 31, 2010, Supertel Hospitality, Inc. (NASDAQ: SPPR) owns 111 hotels comprised of 9,724 rooms in 23 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, Savannah Suites, Masters Inn, Key West Inns and Baymont 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, visit www.supertelinc.com.

Contact Information

  • Contact:
    Mr. Kelly A. Walters
    President & CEO
    Ms. Connie Scarpello
    Sr. Vice President & CFO

    Supertel Hospitality, Inc.
    309 N 5th St.
    Norfolk, NE 68701
    402.371.2520
    www.supertelinc.com