Innkeepers USA Trust Suspends Payment of 1Q '09 Dividend
8% Series C Cumulative Redeemable Preferred Shares
APRIL 9, 2009 - Innkeepers USA Trust (OTC: INKPP) today announced that it has suspended payment of its 2009 first quarter dividend on its 8% Series C Cumulative Redeemable Preferred Shares.
Decisions regarding future quarterly dividends on the 8% Series C Cumulative Redeemable Preferred Shares will be made by Innkeepers' board of trustees based on financial and economic conditions and other factors that the board deems appropriate.
A description of the 8% Series C Cumulative Redeemable Preferred Shares, is available in the Amended and Restated Declaration of Trust of Innkeepers USA Trust and the Articles Supplementary to the Declaration of Trust. Certain information regarding the 8% Series C Cumulative Redeemable Preferred Shares may be found on the company's website at www.innkeepersusa.com.
Innkeepers USA Trust is a real estate investment trust (REIT) and a leading owner of upscale and extended-stay hotel properties throughout the United States. The company currently owns interests in 74 hotels with approximately 10,100 rooms in 20 states and the District of Columbia.
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