Innkeepers USA Trust Suspends Payment of 4Q '09 Dividend on Certain Shares
NOVEMBER 23, 2009 - Innkeepers USA Trust (OTC: INKPP) today announced that it has suspended payment of its 2009 fourth quarter dividend on its 8% Series C Cumulative Redeemable Preferred Shares.
Innkeepers' board of trustees will continue to review future quarterly dividends on the 8% Series C Cumulative Redeemable Preferred Shares based on financial and economic conditions and other appropriate factors.
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 73 hotels with approximately 10,000 rooms in 19 states and the District of Columbia.
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