SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
[Amendment No. 2]
Under the Securities Exchange Act of 1934
SUPERTEL HOSPITALITY, INC.
(Name of Issuer)
COMMON STOCK $.01 PAR VALUE
(Title of Class of Securities)
868524 10 9
(CUSIP Number)
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act.
1. Name of Reporting Persons/I.R.S. Identification Nos. of
Above Persons (Entities Only)
STEVE H. BORGMANN, ###-##-####
2. Check the Appropriate Box if a Member of a Group
[ ] (a) [ ] (b)
3. SEC Use Only
4. Citizenship or Place of Organization: United States
5. Sole Voting Power
664,026 Shares
Number of
Shares 6. Shared Voting Power
Beneficially
Owned by 82,932 Shares
Reporting
Person 7. Sole Dispositive Power
With
664,026 Shares
8. Shared Dispositive Power
82,932 Shares
9. Aggregate Amount Beneficially Owned by Each Reporting Person: 746,958
Shares
10. Check Box if Aggregate Amount in Row 11 Excludes Certain Shares: [ ]
11. Percent of Class Represented by Amount in Row 11: Approximately 15.4%
of voting securities.
12. Type of Reporting Person: IN
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The reporting person filed an Amendment No. 1 to Schedule 13G on January
14, 1998. The reporting person's ownership of Supertel Hospitality, Inc. common
stock existed prior to the completion of Supertel's initial public offering. The
reporting person amends Item 4 ("Ownership") of Schedule 13G by revising the
last sentence thereof to read as follows: Mr. Borgmann also holds options to
acquire an aggregate of 25,000 shares of Supertel common stock. The shares
issuable upon exercise of such options are not included in the foregoing
amounts.
By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were acquired in the ordinary course of
business and were not acquired for the purpose of and do not have the effect of
changing or influencing the control of the issuer of such securities and were
not acquired in connection with or as a participant in any transaction having
such purposes or effect.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
January 12, 1999
-------------------------------
(Date)
/s/ Steve H. Borgmann
-------------------------------
Steve H. Borgmann
<PAGE>
