Supertel Adds 15 Hotels
Supertel Hospitality, Inc., a self-administered real estate investment trust, today announced it has added 15 hotels to its portfolio with the completion of the previously announced acquisition of the Masters Inn hotels. The purchase price for the hotels was $42.7 million. The hotels are located in: Tuscaloosa, Alabama; Orlando, Florida; Kissimmee, Florida (2); Seffner, Florida; East Tampa, Florida; Doraville, Georgia; Marietta, Georgia; Tucker, Georgia; Augusta, Georgia; Garden City, Georgia; Mt. Pleasant, South Carolina; Charleston, South Carolina; and Cayce, South Carolina (2).
“These 15 Masters Inn hotels, with a total of 1,842 rooms, present a great opportunity for Supertel to add clean, friendly and affordable accommodations for business and leisure travelers in South Carolina, Georgia and Florida markets while expanding into Alabama. We believe adding these facilities to our portfolio will strengthen our overall position in the economy and limited service sectors of the hospitality lodging industry particularly in the southeast section of the United States,” said Paul J. Schulte, chairman, president and chief executive officer of Supertel Hospitality, Inc. Read more