Supertel Reduces 4Q '08 Dividend
DECEMBER 4, 2008. Supertel Hospitality, Inc. (NASDAQ: SPPR), a self-administered real estate investment trust, today announced that its board of directors has declared a fourth quarter cash dividend of $0.08 per share on its common stock. The dividend is approximately 63 percent of the amount declared in the 2007 fourth quarter. The dividend will be distributed on February 2, 2009 to common shareholders of record on December 31, 2008.
"The board believes it is prudent to take a more conservative approach to our dividend in these highly uncertain times," said Paul J. Schulte, chairman, president and CEO of Supertel Hospitality, Inc. "Based on our closing price today, the annualized yield is approximately18 percent."
"This move gives us additional flexibility to respond to opportunities and challenges facing the company and our industry over the short term."
Supertel Hospitality, Inc. specializes in limited-service lodging. The company owns 125 hotels in 24 states.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
