WhereDaily News: Supertel Hospitality Announces Sale of Two Non-Core Hotels and Enters Agreement to Sell Two Hotels

NORFOLK, NE--(Marketwired - April 17, 2015) - Supertel Hospitality, Inc. (NASDAQ: SPPR), a real estate investment trust (REIT), today announced that it closed on the sale of two Savannah Suites hotels on April 1, 2015. The 172-room Savannah Suites located in Augusta, Georgia, sold for $3.4 million, and the 120-room Savannah Suites in Chamblee, Georgia, sold for $4.4 million. The company applied $4.1 million of the proceeds to the GE Capital mortgage note that matures in December 2015.

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