UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D)

OF THE SECURITIES EXCHANGE ACT OF 1934

June 29, 2016

Date of report (Date of earliest event reported)

Condor Hospitality Trust, Inc.

(Exact Name of Registrant as Specified in Its Charter)

Maryland

(State or Other Jurisdiction of Incorporation)

(402) 371-2520

(Registrant’s Telephone Number, Including Area Code)

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

On June 29, 2016, Condor Hospitality Trust, Inc. (the “Company”) through its wholly owned subsidiaries, TRS Leasing, Inc., TRS Subsidiary LLC, SPPR TRS Subsidiary, LLC, SPPR-Dowell TRS Subsidiary LLC and BMI Alexandria TRS Subsidiary, LLC (collectively the “TRS Lessee”) entered into separate updated hotel management agreements with Hospitality Management Advisors, Inc. (“HMA”), Kinseth Hospitality Companies (“Kinseth”), Cherry Cove Hospitality Management, LLC (“Cherry Cove”), K Partners Hospitality Group, LP (“K Partners”) and Strand Development Company LLC (“Strand”), as eligible independent operators to manage the Company’s hotels. These hotel management agreements are effective July 1, 2016 and amend the Company’s previous hotel management agreements with the management companies.

HMA manages 15 Company hotels in Louisiana, Kentucky, Indiana, North Carolina, Virginia, West Virginia and Florida. Kinseth manages 8 Company hotels in Iowa, Kansas, Montana, South Dakota and Wisconsin. Cherry Cove manages two Company hotels in Maryland. K Partners manages two Company hotels in West Virginia and Pennsylvania. Strand manages one Company hotel in Georgia.

Hotel Management. The hotel management agreements with HMA, Cherry Cove, K Partners, Kinseth and Strand provide that the management companies have control of all operational aspects of the hotels, including employee-related matters. The management companies must generally maintain each hotel under their management in good repair and condition and make routine maintenance, repairs and minor alterations. Additionally, the management companies must operate the hotels in accordance with the national franchise agreements that cover the hotels, which includes, as applicable, using franchisor sales and reservation systems as well as abiding by franchisors’ marketing standards. The management companies may not assign their management agreements without our consent.

The management agreements generally require TRS Lessee to fund debt service, working capital needs and capital expenditures and fund the management companies’ third-party operating expenses, except those expenses not related to the operation of the hotels. TRS Lessee is responsible for obtaining and maintaining insurance policies with respect to the hotels.

Management Fee. Each of the management companies will receive a monthly management fee with respect to the hotels they manage ranging from 3% to 3.5% of the gross hotel income, with incentives for performance which may increase such fee to a maximum of 5%.

Term and Termination. Each of the management agreements expire on June 30, 2017 and will renew for additional terms of one year unless either party to the agreement gives the other party written notice of termination at least 90 days before the end of a term.

TRS Lessee may terminate a management agreement as follows:

NOI is equal to gross hotel income less operating expenses (exclusive of management fees, certain insurance premiums and employee bonuses, and personal and real property taxes). A management company may terminate a management agreement as follows:

Defaults and Indemnity. The following are events of default under the management agreements:

With the exception of certain events of default as to which no cure period exists, if an event of default occurs and continues beyond the cure period set forth in the management agreements, the non-defaulting party has the option of terminating the agreement.

The management agreements each provide that each party to the agreement, subject to certain exceptions, indemnifies and holds harmless the other party against any liabilities stemming from certain negligent acts or omissions, breach of contract, willful misconduct or tortuous actions by the indemnifying party or any of its affiliates.

The management agreements entered into with each of HMI, Strand, Kinseth and Cherry Cove are attached hereto and incorporated herein by this reference.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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