Supertel Hospitality,
Inc. SPPR, a real estate investment trust (REIT), today
announced that it sold the 63-room Guesthouse Inn in Ellenton,
Florida for $1.26 million, and the 120-room Days Inn North in
Fredericksburg, Virginia for $2.05 million. Supertel purchased the
Ellenton Guesthouse property in June 1998 as part of a three hotel
portfolio. The Fredericksburg (North) Days Inn was purchased in July
2007. The hotels were no longer classified as core assets primarily
due to age and chain scale classification. The company will use the
proceeds to reduce corporate debt and for general corporate purposes.
The sale of the hotels demonstrates the company's continued
commitment to the business plan which calls for the divesture of
non-core properties to provide funding for the acquisition of
premium-branded, select-service hotels.
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