Supertel Hospitality Reports Q4 FFO of $0.02 vs. $0.04

Supertel Hospitality, Inc. SPPR today announced its results for the fourth quarter and year ended December 31, 2010.

Revenues from continuing operations for the 2010 fourth quarter increased 6.5 percent to $19.2 million, compared to the year-ago period, and increased 3.1 percent to $84.1 million for the full year.

Net loss attributable to common shareholders was $(4.2) million, or $(0.18) per diluted share, for the 2010 fourth quarter, compared to net loss attributable to common shareholders of $(25.7) million, or $(1.17) per diluted share, in the 2009 same quarter.

Funds from operations was $(2.2) million, or $(0.10) per diluted share, for the 2010 fourth quarter, compared to $(23.5) million, or $(1.07) per diluted share, in the same 2009 period. Funds from operations without impairment, a non-cash item, in the 2010 fourth quarter was $0.4 million, or $0.02 per diluted share, compared to $(0.2) million or $(0.01) per diluted share for the same 2009 period.