COLUMBIA, MD— Humphrey Hospitality Trust announced the sale of its Super 8 hotel in Macomb, IL for $1,200,000. The company, a real estate investment trust (REIT) with 90 limited-service properties, said it realized a net loss of approximately $7,000, and utilized the net proceeds of $1,118,000 to pay down existing debt. “Buyer interest in the various properties we have for sale has increased, and further hotel sales are expected to be announced in the coming months,” said George Whittemore, president/CEO of the company. He added that the continued sale of selected hotels “will help strengthen the companys balance sheet, and ultimately permit our full compliance with existing loan covenants.” In its third quarter 2001 Form 10-Q filing, the company disclosed non-compliance with the loan covenant requirements of certain of its lenders. The company said it has since negotiated extended loan covenant waivers allowing it to temporarily maintain higher loan to value ratios and lower debt service coverage ratios through September 2002. The loan covenant waivers are subject to specific lender conditions, including a mandatory cap on capital expenditures for fiscal year 2002, and restrictions prohibiting dividend payments to shareholders at any time during 2002, according to the company. The company has said it does not expect to declare quarterly dividends in 2002, but at the end of 2002, it may declare an annual dividend for the year 2002, which would be paid in January 2003.