Supertel Hospitality Reports 2010 Second Quarter Results

NORFOLK, NB– Supertel Hospitality, Inc. (NASDAQ: SPPR), a real estate investment trust (REIT) which owns 111 hotels in 23 states, today announced its results for the second quarter ended June 30, 2010.

Revenues from continuing operations for the 2010 second quarter increased 3.1 percent to $24.7 million, compared to the same year-ago period.

Net loss attributable to common shareholders for the 2010 second quarter was $(4.0) million, or $(0.18) per diluted share, compared to net income attributable to common shareholders of $0.9 million, or $0.04 per diluted share, in the 2009 same quarter, a decline of $4.9 million.

 The decrease was primarily the result of $4.5 million of impairment. Funds from operations (FFO), which includes the impairment expense, for the 2010 second quarter was $(1.5) million, or $(0.07) per diluted share.

For a complete copy of the company's news release and financials, please contact:
Jerry Daly, Carol McCune, Daly Gray, (Media Contact), 703.435.6293
jerry@dalygray.com