Supertel Hospitality, Inc. Announces Sale of Sedalia, Missouri Super 8
May 30, 2012 14:47 ET
Supertel Hospitality, Inc. Announces Sale of Sedalia, Missouri Super 8
NORFOLK, NE--(Marketwire - May 30, 2012) - Supertel Hospitality, Inc. (
Year to date the company has sold four non-core assets generating gross proceeds of approximately $6.3 million and reducing the company's consolidated mortgage debt by $4.8 million. The sale of the Sedalia Super 8 is consistent with Supertel's plan to transition away from the economy hotel sector and target more upscale assets over the next three years.
About Supertel Hospitality, Inc.
Supertel Hospitality, Inc. (
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.