Supertel Names New CFO, COO

Additionally, Paul Heybrook was promoted to VP and controller, and Pat Morland is not the assistant VP of human resources. All of the positions were filled internally.

"We are now transitioning in a new strategic direction and are restructuring the company in support of that change," says Kelly Walters, Supertels president and CEO. "Our goal in re-organizing the senior management team is to bring greater balance to the decision-making process within the REIT. We are confident that these four promotions accomplish that. All of these individuals bring relevant experience and strong leadership skills to their new positions. Their years in the hospitality industry, as well as their history with the company, make them a vital collective resource."

Previously, Scarpello was the chief accounting officer. In her new role she will work for the CEO and COO to create financial policies and plans. She will oversee the accounting, financial reporting, as well as the tax and budgeting activities.

Before his promotion Gilbert held the position of SVP/Cap-ex. In that role he oversaw the company's capital improvement projects on the various properties.

Heimes has filled the role of CFO since 2004 and will now move on to pursue other endeavors. "Don played a key leadership role during his five years at Supertel, which included what was arguably the most challenging operating environment in the history of our industry," Walters says. "Don wore many hats, and we appreciate his dedication and leadership during a period of unprecedented growth at Supertel."

In the middle of April, Paul Schulte the president and CEO stepped down from his role. As GlobeSt.com reported, Kelly Walters assumed the role of CEO. The company has been reporting severe drops in revenue in the first two quarters of 2009. For Q2, Supertel's revenue declined 12.3%. First quarter results also reported a drop in revenue. Supertel saw a 9.6% decline in revenue in the first three months of 2009.

Supertel owns 117 hotels in 23 states.