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Stock Market & Financial Investment News

News Breaks
June 12, 2014
16:56 EDTSPPRSupertel Hospitality announces sale of four hotels
Supertel Hospitality announced that it has closed on the sale of four hotels with an aggregate of 314 rooms since the end of the first quarter March 31. Combined gross proceeds of $7.75M from the sales were used to reduce debt and pay transaction costs. The four sold hotels include: 65-room Baymont Inn and Suites, Brooks, Kentucky sold April 24 for $1.7M, 101-room Super 8 hotel, Omaha, Nebraska sold May 6 for $1.6M, 108-room Super 8 hotel, Boise, Idaho sold June 4 for $2.8M, 40-room Super 8 hotel, Clarinda, Iowa sold June 11 for $1.65M.
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August 22, 2014
13:02 EDTSPPRSupertel Hospitality announces sale of Stone Mountain suites
Supertel Hospitality announced that it has sold the 140-room Savannah Suites in Stone Mountain, Georgia, on August 21 for $1.5M. Supertel will use the proceeds from the sale to retire the mortgage on the property. The company closed on the sale of the Savannah Suites in Jonesboro, Georgia, on July 15 for $1.4M.

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