SOURCE: Supertel Hospitality, Inc.

December 04, 2006 11:22 ET

Supertel Hospitality, Inc. Increases Fourth Quarter 2006 Dividend to $0.11 per Common Share

NORFOLK, NE -- (MARKET WIRE) -- December 4, 2006 -- Supertel Hospitality, Inc. (NASDAQ: SPPR), a self-administered real estate investment trust, today announced that its Board of Directors has declared a cash dividend payment for common shareholders for the fourth quarter of 2006.

A dividend payment of $0.11 per share, for common shareholders of record as of December 11, 2006, will be distributed on January 31, 2007. This represents an increase of 1/2 cent from the $0.10 1/2 dividend for the third quarter of 2006 and an increase of 4 cents from the $0.07 dividend for the fourth quarter of 2005.

Supertel Hospitality, Inc. specializes in limited-service lodging. The Company owns 86 hotels in 19 mid-western and eastern states.

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

    Supertel Hospitality, Inc.
    Donavon A. Heimes