Wednesday, February 1, 2012

Supertel Hospitality, Inc. Shareholders Approve $30 Million Investment in Supertel by Argentina-based Company

 NORFOLK, NB– Supertel Hospitality, Inc. (NASDAQ: SPPR), a real estate investment trust (REIT) which owns 99 hotels in 23 states, announced that at a special meeting held on January 31, 2012, the shareholders of the company approved the $30 million investment in the company by Real Estate Strategies L.P. (“RES”), an investment vehicle indirectly controlled by IRSA Inversiones y Representaciones Sociedad Anónima (“IRSA”), an Argentinean-based publicly traded company.

At the special meeting the shareholders of Supertel, by the requisite vote, approved the issuance and sale of the 3,000,000 shares of preferred stock, 30,000,000 shares of common stock of Supertel which may be issued upon conversion of the preferred stock, and warrants to purchase an additional 30,000,000 shares of common stock.

Supertel mailed a proxy statement on December 29, 2011 to its shareholders in connection with the special meeting.

Supertel and RES expect to complete the issuance and sale of the preferred stock within the next two weeks. 

IRSA Inversiones y Representaciones Sociedad Anónima (NYSE:IRS/BCBA:IRSA) (“IRSA”) is the largest and leading Argentinean diversified real estate company, and the only company in the industry whose shares are listed on both the Bolsa de Comercio de Buenos Aires (“BASE”) and in The New York Stock Exchange.

Through its subsidiaries, IRSA manages an expanding top portfolio of shopping malls, and office buildings, primarily in the City of Buenos Aires, Argentina (business district top right photo)

The company also owns four luxury hotels and a huge landbank to develop both residential and commercial future projects.

Additionally, IRSA currently owns a stake in Banco Hipotecario S.A., Argentina’s leading mortgage bank. In the US, IRSA owns a 9% equity stake in Hersha Hospitality Trust and commercial real estate properties in NYC, including ownership and management of the Lipstick building at 885 Third Avenue and ownership of the building at 183 Madison Avenue.

 For more information or to make a hotel reservation, visit


Ms. Krista Arkfeld
Director of Corporate Communications
Supertel Hospitality, Inc.                                         
1800 W Pasewalk Ave, Suite 200                             
Norfolk, NE  68701                                                   

Patrick Daly
Account Supervisor
Daly Gray, Inc.
Office:  (703) 435-6293
Cell:  (703) 300-8289

1 comment:

Carla said...

I know what IRSA is. They are the owners of most shopping malls in the capital of Argentina. Besides, they organize vans that take tourists from one mall to the other or from the hotels to the malls. I had a Buenos Aires temporary rent and I thought they were not going to come pick me up but they did since the company from which I rented the place had an arrangements for the vans to go to particular buildings and pick up tourists that were dooing the temporary rent thing!