Supertel Reports Third Quarter Results

NORFOLK, NE—Supertel Hospitality, Inc. revealed its results for the third quarter of this year.

The company, which owns 106 hotels in 23 states, posted a 6.5% revenue gain from continuing operations. Net loss attributed to shareholders was $0.5 million compared to $1.4 million in the third quarter of 2009. Funds from operations for the quarter was $2.4 million, or $0.10 per diluted share. RevPAR rose by 6.6% and occupancy increased by 8.4%.