UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT PURSUANT

TO SECTION 13 OR 15(D) OF THE

SECURITIES EXCHANGE ACT OF 1934

November 29, 2006

Date of report (Date of earliest event reported)

Supertel Hospitality, Inc.

(Exact Name of Registrant as Specified in Its Charter)

Virginia

(State or Other Jurisdiction of Incorporation)

0-25060	52-1889548
(Commission File Number)	(IRS Employer Identification No.)
309 North Fifth Street
Norfolk, NE	68701
(Address of Principal Executive Offices)	(Zip Code)

(402) 371-2520

(Registrant’s Telephone Number, Including Area Code)

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

(e) Executive Officer Compensation

On November 29, 2006, the Compensation Committee of the Board of Directors of Supertel Hospitality, Inc. approved a cash bonus of $25,000 for fiscal 2006 for Donavon A. Heimes, Chief Financial Officer, Treasurer and Secretary and an increase in his annual salary from $175,000 to $200,000 effective January 1, 2007. The Committee also approved a cash bonus of $35,000 for fiscal 2006 for Paul Schulte, Chairman, President and Chief Executive Officer.

Item 8.01. Other Events.

On November 29, 2006, the Board of Directors declared a dividend for the fourth quarter of $.11 per share of common stock payable January 31, 2007 to shareholders of record on December 11, 2006. This is an increase of ½ cent from the $.10½ dividend for the third quarter of 2006 and an increase of 4 cents from the $.07 dividend for the fourth quarter of 2005.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	Supertel Hospitality, Inc.
Date: December 4, 2006	By: /s/ Donavon A. Heimes
	Name: Donavon A. Heimes
	Title: Chief Financial Officer, Treasurer and Secretary