Innkeepers USA Trust Ups Common Share Dividend 33%

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. October 14, 2008

PALM BEACH, FL, August 30, 2006. Innkeepers USA Trust today announced that its board of trustees has declared a common share dividend of $0.20 per share for the 2006 third quarter, a 33 percent increase from the previous quarterly dividend of $0.15. Based on the closing price of the common shares at the close of business on August 28, the annualized dividend represents a yield of approximately 4.8 percent.

"This is our third common share dividend increase in the past 15 months, which reflects our continuing confidence in the company's earnings growth potential and the overall health of the hotel industry," said Jeffrey H. Fisher, Innkeepers chief executive officer and president. "Our board of trustees will continue to evaluate the common share dividend on a quarterly basis."

The board also declared a regular dividend of $0.50 per Series C Cumulative Preferred share for the period of July 26, 2006 to October 31, 2006. The common and Series C preferred dividends are payable October 31, 2006, to shareholders of record on September 29, 2006.