Walters To Head Supertel Hospitality As Pres./CEO

NORFOLK, NE—Lodging REIT Supertel Hospitality, Inc. has named Kelly Walters its new president and chief executive officer, effective April 14. He will succeed Paul Schulte, who will remain as chairman of the board. Walters is a former senior vice president for North Dakota-based Investors Real Estate Trust, a self-advised equity real estate investment trust with nearly 250 multi-family residential, office, medical, industrial and retail commercial real estate assets. Previously, he was svp of Omaha-based Magnum Resources, Inc., a privately held real estate investment and operating company. In 2006, IRET acquired a portion of Magnum’s portfolio in a transaction valued at $140 million, and Walters joined the company’s senior management team at the close of the transaction. At various times throughout his 13-year tenure with the two companies, he was responsible for investment strategy, acquisitions and dispositions, capital markets activities, and asset management. Prior to joining Magnum Resources, Walters was a senior portfolio manager at Brown Brothers Harriman and Co. in Chicago. Supertel Hospitality, Inc. owns 122 hotels representng 10,659 rooms in 24 states,