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Supertel Hospitality Inc (SPPRP) news stock charts

Supertel Hospitality Inc (SPPRP) Investment Summary:

Supertel Hospitality, Inc., a real estate investment trust (REIT), engages in the ownership and acquisition of limited-service hotels in the United States. The company?s hotels operate under various franchise brand names, including Super 8, Comfort Inn/Comfort Suites, Hampton Inn, Holiday Inn Express, Best Western Suites, Days Inn, Ramada, Ltd., Shoney's Inn, and Sleep Inn. As of December 31, 2005, it owned 76 limited-service hotels in 17 states. The company has elected to be taxed as a REIT under the Internal Revenue Code of 1986. As a REIT, it would not be subject to federal income tax provided that it distributes at least 90% of its taxable income to its shareholders. The company was incorporated in 1994. It was formerly known as Humphrey Hospitality Trust, Inc. and changed its name to Supertel Hospitality, Inc. in 2005. Supertel Hospitality is headquartered in Norfolk, Nebraska.
www.supertelinc.com
16 Employees
Founded in 1994

Supertel Hospitality Inc (SPPRP:NASDAQ)

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Snapshot of Supertel Hospitality Inc (SPPRP)

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Key developments for Supertel Hospitality Inc (SPPRP)

Supertel Hospitality, Inc. expected to Report Fiscal Year 2009 Results on March 23, 2010. This event was calculated by Capital IQ (Created on March 20, 2010).

Supertel Hospitality, Inc. expected to Report Fiscal Year 2009 Results on March 23, 2010. This event was calculated by Capital IQ (Created on March 20, 2010).

Supertel Hospitality, Inc. Announces Impairment Charges for the Fourth Quarter of 2009

March 8, 2010, Supertel Hospitality, Inc. announced that its 2009 results will be impacted by substantial non-cash impairment charges of approximately $24.1 million. As a result of management's decision in the fourth quarter to sell an additional 18 hotels, the company recorded impairment charges of approximately $12.4 million on 12 of these hotels. Further, the company recorded impairment charges of approximately $10.9 million for six hotels where the expected period to be held was reduced from approximately 10 years to three years. The non-cash impairment charge represents the excess of book value of the 18 hotels over their estimated fair value. Through the 2009 third quarter, the company had announced non-cash impairment charges of approximately $0.843 million.

Supertel Hospitality, Inc. Announces Chairman Changes; Closes $2 Million Line of Credit

Supertel Hospitality, Inc. announced that William C. Latham will assume the duties of chairman of Supertel's board of directors on January 1, 2010. Paul Schulte, the current chairman and a co-founder of Supertel, will continue to serve on the board of directors. Schulte began his career in construction, including building hotels. He and partner Steve H. Borgmann formed Supertel Hospitality, Inc. in 1980, which developed and acquired hotels before becoming a public company in 1994. Latham has been a Supertel board member since 2008. He has been active in hotel ownership and management since 1972. The company announced that it has closed on a $2 million line of credit from Norfolk, Neb.-based Elkhorn Valley Bank & Trust that will be effective December 22, 2009 through October 1, 2010. The line is secured by two previously unencumbered hotels and will supplement a $20 million revolving line of credit with Great Western Bank.

Supertel Hospitality Inc financial resources

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Industry Analysis

Valuation SPPRP Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 0.3x
Price/Book 0.4x
Price/Cash Flow 2.3x
TEV/Sales NM Not Meaningful

SPPRP

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SPPRP transactions

Type
Date
Target
Merger/Acquisition
October 26, 2009
Masters Inn in Kissimmee, Florida with 187 Rooms
Merger/Acquisition
October 7, 2009
Comfort Inn in Dahlgren, Virginia

More Recent Financial News About Supertel Hospitality Inc

Supertel Hospitality, Inc. to Cancel Conversion Rights on Series A Convertible Preferred Stock

Quote: As a result, holders of the Series A Convertible Preferred Stock cannot convert their shares of Series A Convertible Preferred Stock into shares of Supertel Hospitality's common stock after the close of business on February 19, 2009. The Series A Convertible Preferred Stock was issued in December 2005.The conversion rights on the Series A Convertible Preferred Stock are cancelable after December 31, 2008 if, for at least 20 trading days within any period of 30 consecutive trading days, the closi...
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