X0202 4 2007-08-31 0000929545 SUPERTEL HOSPITALITY INC SPPR 0000936530 SCHULTE PAUL J 309 NORTH 5TH STREET NORFOLK NE 68701 1 1 0 0 President Common Stock 2007-08-31 4 C 0 35400 5.66 A 873316 D Common Stock 29500 I by Spouse Common Stock 48755 I See Footnote Series A Convertible Preferred Stock 5.66 2007-08-31 4 C 0 20000 10.00 D 2005-12-30 Common Stock 35400 0 D Mr. Schulte's indirect beneficial ownership reflects his percentage ownership to two corporations which own Supertel Hospitality common stock. The Series A Preferred Stock has no expiration date. Paul J. Schulte 2007-09-04