March 26, 2012 at 12:45 PM EDT
Supertel Hospitality Announces Dividends on Preferred Stock

NORFOLK, NE -- (Marketwire) -- 03/26/12 -- Supertel Hospitality, Inc. (NASDAQ: SPPR), a real estate investment trust (REIT) which currently owns 99 hotels in 23 states, today announced the declaration and the continuation of regular dividends on its outstanding preferred stock.

The regular monthly cash dividend of $0.066667 per share of Series A Preferred Stock will be paid on April 2, 2012 to holders of record as of March 1, 2012; paid on April 30, 2012 to holders of record as of April 1, 2012; and paid on May 31, 2012 to holders of record as of May 1, 2012.

The regular quarterly cash dividend of $0.625 per share of Series B Preferred Stock will be paid on April 2, 2012 to holders of record as of March 15, 2012.

The prorated quarterly cash dividends for the Series C Preferred Stock of $0.1041667 per share for the shares issued on February 1, 2012 and $0.078125 for the shares issued on February 15, 2012 will be paid on April 2, 2012 to the holders of record as of March 15, 2012.

About Supertel Hospitality, Inc.

As of March 26, 2012, Supertel Hospitality, Inc. (NASDAQ: SPPR) owns 99 hotels comprised of 8,685 rooms in 23 states. The company's hotel portfolio includes Baymont Inn, Comfort Inn/Comfort Suites, Days Inn, Guest House Inn, Hampton Inn, Holiday Inn Express, Key West Inns, Masters Inn, Quality Inn, Ramada Limited, Savannah Suites, Sleep Inn, Super 8 and Supertel Inn. This diversity enables the company to participate in the best practices of each of these respected hospitality partners. The company specializes in limited service hotels, which do not normally offer food and beverage service. For more information or to make a hotel reservation, visit www.supertelinc.com.

Certain matters within this press release are discussed using forward-looking language as specified in the Private Securities Litigation Reform Act of 1995, and, as such, may involve known and unknown risks, uncertainties and other factors that may cause the actual results or performance to differ from those projected in the forward-looking statement. These risks are discussed in the Company's filings with the Securities and Exchange Commission.

Contact:
Ms. Krista Arkfeld
Director of Corporate Communications
karkfeld@supertelinc.com

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