SOURCE: Supertel Hospitality, Inc.

May 23, 2007 16:17 ET

Supertel Hospitality, Inc. Increases Second Quarter 2007 Dividend to $0.11 1/2 Per Common Share

NORFOLK, NE -- (MARKET WIRE) -- May 23, 2007 -- 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 second quarter of 2007.

A dividend payment of $0.11 1/2 per share, for common shareholders of record as of June 30, 2007, will be distributed on July 31, 2007. This represents an increase of 1/4 cent from the $0.11 1/4 dividend for the first quarter of 2007 and an increase of 1 1/2 cents from the $0.10 dividend for the second quarter of 2006.

Supertel Hospitality, Inc. specializes in limited-service lodging. The Company owns 113 hotels in 24 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

  • CONTACT:
    Supertel Hospitality, Inc.

    Donavon A. Heimes
    402.371.2520