Super 8 Merges, Restructures Debt
by February 7, 2000 12:00 am 63 views
Paul J. Shulte, president and CEO of Supertel Hospitality Inc. of Norfolk, Neb., refinanced his company’s Super 8 Hotel at 1075 S. Shiloh Drive in Fayetteville. The transaction was part of a $6.7 million loan received Oct. 25 from Mercantile Bank in Sedalia, Mo., that included numerous properties.
The properties were refinanced as part of a debt restructuring that resulted from the merger of Supertel and Humphrey Hospitality Inc.
The Fayetteville hotel, near the intersection of U.S. Highways 71 and 62, has 83 rooms and sits on a 1.8-acre lot. The property includes a Super Start Breakfast dining facility and a substantial parking area.