Kelly A. Walters
Former President & CEO, Supertel Hospitality, Inc.

Mr. Walters served as President and Chief Executive Officer of Supertel from April 2009 to March 2015 and continues to serve on the Board of Directors. Prior to Supertel, Mr. Walters was Senior Vice President for North Dakota-based Investors Real Estate Trust (IRET), a self-advised equity real estate investment trust from October 2006 to April 2009. Preceding IRET, he was Senior Vice President and Chief Investment Officer from 1993 to 2006 of Omaha-based Magnum Resources, Inc., a privately held real estate investment and operating company. Mr. Walters was an officer and senior portfolio manager at Brown Brothers Harriman & Co and he also held investment management positions with the Kiewit Companies and Piper Jaffray. Mr. Walters is a member of the Board of Directors and Audit Committee of Bridges Investment Fund, Inc. He holds a B.S.B.A. degree in banking and finance from the University of Nebraska at Omaha, and an EMBA from the University of Nebraska.