Press Release: Innkeepers USA Trust
September 17, 2002
PALM BEACH, FL -- Innkeepers USA Trust (NYSE: KPA), a hotel real estate investment trust (REIT) and a leading REIT
owner of upscale, extended-stay hotel properties throughout the United States, today announced that its Board of
Trustees has declared a common share dividend of $0.08 per share for the third quarter, the same amount the company
paid in the first and second quarters.
The company also stated that the board has declared a regular dividend of $0.53906 per Series A cumulative convertible
preferred share.
The common and Series A preferred dividends are payable October 29, 2002 to shareholders of record on September
27, 2002.
Innkeepers USA Trust is a hotel real estate investment trust (REIT) and a leading REIT owner of upscale, extended-stay
hotel properties throughout the United States. The company owns 66 hotels with a total of 8,022 suites or rooms
in 23 states and focuses on acquiring and/or developing Residence Inns and other upscale extended-stay hotels and
the rebranding and repositioning of other hotel properties.
For more information about Innkeepers USA Trust, visit the company's web site at www.innkeepersusa.com
Cautionary statements set forth in reports filed by the company from time to time with the Securities and Exchange
Commission discuss important factors impacting, or that could impact, the company and its results or forecasted
results. These factors include, without limitation, (i) risks that disruption in oil imports, changes in domestic
or international political environments, war, terrorism or similar activity would have results that could negatively
affect the travel industry and/or company in ways and to an extent that cannot be anticipated, (ii) the relative
strength and performance of businesses and industries that are important demand generators in the company's key
markets, (iii) international, national, regional and local economic conditions that will, among other things, affect
demand for the company's hotel rooms and the availability and terms of financing, (iv) the company's ability to
maintain its properties in competitive condition, (v) the company's ability to acquire or develop additional properties
and risks that potential acquisitions or developments may not perform in accordance with expectations, (vi) changes
in travel patterns or the prevailing means of commerce, i.e., e-commerce, and (vii) the complex tax rules that
the company must satisfy to qualify as a REIT, and other governmental regulation.
-----------------------------------------------------------
Contact:
Innkeepers USA Trust
David Bulger, 561/835-1800 x302
or
Daly Gray (Media)
Jerry Daly or Carol McCune, 703/435-6293
Source: Innkeepers USA Trust