GE Capital Solutions, Franchise Finance Loans Supertel Hospitality, Inc. $18.1 Million

SCOTTSDALE, Ariz.--(BUSINESS WIRE)--GE Capital Solutions, Franchise Finance, is proud to announce the $18.1 million financing of Supertel Hospitality's purchase of 10 hotels comprised of the following flags: Comfort Inn, Comfort Suites, Days Inn, Quality Inn, Sleep Inn and Super 8 hotels in Kentucky, South Dakota, and Wisconsin.

Supertel Hospitality currently owns 125 hotels in the limited-service, economy, and economy extended-stay sectors.

“These acquisitions are a great opportunity for Supertel Hospitality, and we’re happy to continue to be a part of their success,” says Tom Clearwater, vice president, GE Capital Solutions Franchise Finance. “Companies need to develop their portfolio. The financing we provide helps franchisees to grow, compete, and prosper”.

Supertel acquired 27 hotels in 2007, and with the help of GE Capital Solutions, Franchise Finance, they begin 2008 with the acquisition of 10 properties.

“This financing really opens up some doors for us early in the year,” says Paul J. Shulte, chairman, president, and chief executive officer, Supertel Hospitality. “These acquisitions fit into our investment mold, and they are great additions to our list of properties. Our growth strategy looks to acquire hotels that have proven historical cash flows, and are nationally or regionally franchised hotels, are located within existing geographic clusters, and have situations where they can add value with their operating discipline.”

Supertel Hospitality, Inc., a real estate investment trust, engages in the ownership and acquisition of limited-service hotels in the United States. Supertel Hospitality is headquartered in Norfolk, Neb.

GE Capital Solutions, Franchise Finance is a leading lender serving customers in the restaurant, hospitality and branded beverage industries. It provides financing to help franchisees and franchisors grow, compete, and prosper. It offers access to capital with a diverse array of flexible financing options, including funds for purchasing real estate or equipment, new construction or remodels, acquisitions, or refinancing.

About GE Capital Solutions, Franchise Finance

GE Capital Solutions, Franchise Finance is a leading lender for the franchise finance market via direct sales and portfolio acquisition. With more than 30 years of experience and $13 billion in served assets, we serve more than 5,000 customers and more than 22,000 property locations, primarily in the restaurant, hospitality and branded beverage industries. We offer customers access to capital with a menu of products featuring flexible structuring, including financing for acquisitions, refinancing, construction of new units, and remodels for single- and multi-unit operators/chains. More information is available at www.gefranchisefinance.com or by calling toll-free 866-GET-GEFF (438-4333).

GE Capital Solutions provides leasing, lending, and capital investment products and services to help business customers grow. It has more than $100 billion in assets, serves more than a million clients around the world, and is headquartered in Danbury, Connecticut, USA. For more on GE Capital Solutions, go to www.ge.com/capitalsolutions.

GE (NYSE: GE) is Imagination at Work — a diversified technology, media and financial services company focused on solving some of the world's toughest problems. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and advanced materials, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit the company's Web site at www.ge.com.