NORFOLK, NE--(Marketwire - Dec 21, 2012) - Supertel Hospitality, Inc. (
Year-to-date Supertel has sold 11 non-core hotels generating gross proceeds of approximately $19.3 million. Four hotels are currently under contract and expected to close by year-end, pending financing and other customary closing conditions. The sale of the hotel demonstrates the company's continued commitment to the business plan which calls for continued balance sheet improvement by shedding underperforming assets.
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.