Supertel Hospitality closes on sale of 4 hotels


Gross proceeds of $7.5M will be used by Supertel (SPPR) to first cover transaction costs and then pay down debt.

CEO Kelly Walters: "In a manner consistent with our key initiatives we continue to monetize assets in the economy and midscale sectors, reducing the average age of the hotel portfolio and transitioning away from non-core properties that no longer meet our criteria for long-term holdings."

Supertel currently has another 14 hotels on the block.

The portfolio now stands at 64 hotels comprising 5.695 rooms in 20 states.

Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs