Norfolk-based Supertel reports revenue drop

Print
Font Size:
Default font size
Larger font size

Posted: Friday, November 15, 2013 12:00 am

Supertel Hospitality Inc. reported Thursday it had $859,000 in net income in the three months that ended Sept. 30, although revenue was down 3.6 percent to $17.9 million.

Supertel, a real estate trust based in Norfolk, Neb., that owns 71 hotels in 21 states, lost $3.1 million in the same period last year. For the first nine months of this year, the company lost $2.5 million compared with a loss of $6.1 million a year earlier. Nine-month revenue was down 2.5 percent to $47.3 million.

Funds from operations, a measure of profit for such trusts, totaled $2.5 million in the latest quarter, up from $1.3million a year earlier.

Copyright ©2014 Omaha World-Herald. All rights reserved. This material may not be published, broadcast, rewritten, displayed or redistributed for any purpose without permission from the Omaha World-Herald. To purchase rights to republish this article, please contact The World-Herald Store.


loading...

SPOTLIGHT »

Inside Business
To submit an announcement for "Inside Business", click here. For questions call (402) 444-1371 or e-mail announcements@owh.com.

World-Herald Alerts

Want to get World-Herald stories sent directly to your home or work computer? Sign up for Omaha.com's News Alerts and you will receive e-mails with the day's top stories.