Supertel Hospitality Announces Sale of Hotel Properties for $3.65 Million (2/03/15)
NORFOLK, NE--(Marketwired - February 03, 2015) - Supertel Hospitality, Inc. (NASDAQ: SPPR), a real estate investment trust (REIT), today announced that it has closed on the sale of two economy hotels.
The 49-room Super 8 in West Plains, Missouri sold on January 15, 2015 for $1.5 million. The company closed on the sale of the 83-room Super 8 in Green Bay, Wisconsin on January 29, 2015 for $2.15 million. Supertel will use the proceeds from the sales to reduce debt.
About Supertel Hospitality, Inc.
Supertel Hospitality, Inc. (NASDAQ: SPPR) is a self-administered real estate investment trust that specializes in the ownership of select-service hotels. The company currently owns 54 hotels comprising 4,666 rooms in 20 states. Supertel's hotels are franchised by a number of the industry's most well-regarded brand families including Hilton, Choice and Wyndham. For more information or to make a hotel reservation, visit www.supertelinc.com. http://www.marketwired.com/press-release/supertel-hospitality-announces-sale-of-hotel-properties-for-365-million-nasdaq-sppr-1988489.htm