-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 LsdZM3md8kdT3NxLgE0gEgBFH+tXO2mgxHssNO/tluhd1gUMrEh9WPDLGEDoasud
 wSH0dMewC8BmGlndqzBm3w==

<SEC-DOCUMENT>0001104659-03-014717.txt : 20030714
<SEC-HEADER>0001104659-03-014717.hdr.sgml : 20030714
<ACCEPTANCE-DATETIME>20030714172906
ACCESSION NUMBER:		0001104659-03-014717
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030710
FILED AS OF DATE:		20030714

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			RFS HOTEL INVESTORS INC
		CENTRAL INDEX KEY:			0000906408
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				621534743
		STATE OF INCORPORATION:			TN
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		850 RIDGE LAKE BLVD STE 220
		CITY:			MEMPHIS
		STATE:			TN
		ZIP:			38120
		BUSINESS PHONE:		9017677005

	MAIL ADDRESS:	
		STREET 1:		850 RIDGE LAKE BLVD STE 220
		CITY:			MEMPHIS
		STATE:			TN
		ZIP:			38120

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			FORSDICK H LANCE SR
		CENTRAL INDEX KEY:			0001010359

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12011
		FILM NUMBER:		03785931

	BUSINESS ADDRESS:	
		STREET 1:		889 RIDGE LAKE BLVD
		STREET 2:		SUITE 100
		CITY:			MEMPHIS
		STATE:			TN
		ZIP:			38120
		BUSINESS PHONE:		9017675154

	MAIL ADDRESS:	
		STREET 1:		889 RIDGE LAKE BLVD
		STREET 2:		SUITE 100
		CITY:			MEMPHIS
		STATE:			TN
		ZIP:			38120
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>a4.xml
<DESCRIPTION>4
<TEXT>
<XML>
<?xml version="1.0" encoding="utf-8"?>
<ownershipDocument>
    <schemaVersion>X0101</schemaVersion>

    <documentType>4</documentType>
  <periodOfReport>2003-07-10</periodOfReport>
  <notSubjectToSection16>1</notSubjectToSection16>
    <issuer>
        <issuerCik>0000906408</issuerCik>
        <issuerName>RFS HOTEL INVESTORS INC</issuerName>
        <issuerTradingSymbol>RFS</issuerTradingSymbol>
  </issuer>
  <reportingOwner>
    <reportingOwnerId>
            <rptOwnerCik>0001010359</rptOwnerCik>
            <rptOwnerName>FORSDICK H LANCE SR</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>  </rptOwnerStreet1>
            <rptOwnerStreet2>  </rptOwnerStreet2>
            <rptOwnerCity>  </rptOwnerCity>
            <rptOwnerState>  </rptOwnerState>
            <rptOwnerZipCode>  </rptOwnerZipCode>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
      <isDirector>1</isDirector>
      <isOfficer>0</isOfficer>
      <isTenPercentOwner>0</isTenPercentOwner>
      <isOther>0</isOther>
    </reportingOwnerRelationship>
  </reportingOwner>
  <nonDerivativeSecurity>
    <securityTitle>
      <value>Common Stock, $0.01 par value</value>
    </securityTitle>
    <transactionDate>
      <value>2003-07-10</value>
    </transactionDate>
    <transactionCoding>
      <transactionFormType>4</transactionFormType>
      <transactionCode>S</transactionCode>
      <equitySwapInvolved>0</equitySwapInvolved>
    </transactionCoding>
    <transactionTimeliness>
      <value/>
    </transactionTimeliness>
    <transactionAmounts>
      <transactionShares>
        <value>487500</value>
      </transactionShares>
      <transactionValue>
        <value>12.35</value>
      </transactionValue>
      <transactionAcquiredDisposedCode>
        <value>D</value>
      </transactionAcquiredDisposedCode>
    </transactionAmounts>
    <postTransactionAmounts>
      <sharesOwnedFollowingTransaction>
        <value>0</value>
      </sharesOwnedFollowingTransaction>
    </postTransactionAmounts>
    <ownershipNature>
      <directOrIndirectOwnership>
        <value>D</value>
      </directOrIndirectOwnership>
    </ownershipNature>
  </nonDerivativeSecurity>
  <nonDerivativeSecurity>
    <securityTitle>
      <value>Common Stock, $0.01 par value</value>
    </securityTitle>
    <transactionDate>
      <value>2003-07-10</value>
    </transactionDate>
    <transactionCoding>
      <transactionFormType>4</transactionFormType>
      <transactionCode>S</transactionCode>
      <equitySwapInvolved>0</equitySwapInvolved>
    </transactionCoding>
    <transactionTimeliness>
      <value/>
    </transactionTimeliness>
    <transactionAmounts>
      <transactionShares>
        <value>30000</value>
      </transactionShares>
      <transactionValue>
        <value>12.35</value>
      </transactionValue>
      <transactionAcquiredDisposedCode>
        <value>D</value>
      </transactionAcquiredDisposedCode>
    </transactionAmounts>
    <postTransactionAmounts>
      <sharesOwnedFollowingTransaction>
        <value>0</value>
      </sharesOwnedFollowingTransaction>
    </postTransactionAmounts>
    <ownershipNature>
      <directOrIndirectOwnership>
        <value>I</value>
      </directOrIndirectOwnership>
      <natureOfOwnership>
        <value>Children's Trust</value>
      </natureOfOwnership>
    </ownershipNature>
  </nonDerivativeSecurity>
  <nonDerivativeSecurity>
    <securityTitle>
      <value>Common Stock, $0.01 par value</value>
    </securityTitle>
    <transactionDate>
      <value>2003-07-10</value>
    </transactionDate>
    <transactionCoding>
      <transactionFormType>4</transactionFormType>
      <transactionCode>S</transactionCode>
      <equitySwapInvolved>0</equitySwapInvolved>
    </transactionCoding>
    <transactionTimeliness>
      <value/>
    </transactionTimeliness>
    <transactionAmounts>
      <transactionShares>
        <value>20585</value>
      </transactionShares>
      <transactionValue>
        <value>12.35</value>
      </transactionValue>
      <transactionAcquiredDisposedCode>
        <value>D</value>
      </transactionAcquiredDisposedCode>
    </transactionAmounts>
    <postTransactionAmounts>
      <sharesOwnedFollowingTransaction>
        <value>0</value>
      </sharesOwnedFollowingTransaction>
    </postTransactionAmounts>
    <ownershipNature>
      <directOrIndirectOwnership>
        <value>I</value>
      </directOrIndirectOwnership>
      <natureOfOwnership>
        <value>Spouse</value>
      </natureOfOwnership>
    </ownershipNature>
  </nonDerivativeSecurity>
  <derivativeSecurity>
    <securityTitle>
      <value>Common Stock Option</value>
      <footnoteId id="F1"/>
    </securityTitle>
    <conversionOrExercisePrice>
      <value>11.35</value>
    </conversionOrExercisePrice>
    <transactionDate>
      <value>2003-07-10</value>
    </transactionDate>
    <transactionCoding>
      <transactionFormType>4</transactionFormType>
      <transactionCode>X</transactionCode>
      <equitySwapInvolved>0</equitySwapInvolved>
    </transactionCoding>
    <transactionTimeliness>
      <value/>
    </transactionTimeliness>
    <transactionAmounts>
      <transactionShares>
        <value>10000</value>
      </transactionShares>
      <transactionValue>
        <value>12.35</value>
      </transactionValue>
      <transactionAcquiredDisposedCode>
        <value>D</value>
      </transactionAcquiredDisposedCode>
    </transactionAmounts>
    <exerciseDate>
      <value>2003-07-10</value>
    </exerciseDate>
    <expirationDate>
      <value>2003-07-10</value>
    </expirationDate>
    <underlyingSecurity>
      <underlyingSecurityTitle>
        <value>Common Stock</value>
      </underlyingSecurityTitle>
      <underlyingSecurityShares>
        <value>10000</value>
      </underlyingSecurityShares>
    </underlyingSecurity>
    <postTransactionAmounts>
      <sharesOwnedFollowingTransaction>
        <value>0</value>
      </sharesOwnedFollowingTransaction>
    </postTransactionAmounts>
    <ownershipNature>
      <directOrIndirectOwnership>
        <value>D</value>
      </directOrIndirectOwnership>
    </ownershipNature>
  </derivativeSecurity>
  <derivativeSecurity>
    <securityTitle>
      <value>Common Stock Option</value>
      <footnoteId id="F1"/>
    </securityTitle>
    <conversionOrExercisePrice>
      <value>13.15</value>
    </conversionOrExercisePrice>
    <transactionDate>
      <value>2003-07-10</value>
    </transactionDate>
    <transactionCoding>
      <transactionFormType>4</transactionFormType>
      <transactionCode>O</transactionCode>
      <equitySwapInvolved>0</equitySwapInvolved>
    </transactionCoding>
    <transactionTimeliness>
      <value/>
    </transactionTimeliness>
    <transactionAmounts>
      <transactionShares>
        <value>40000</value>
      </transactionShares>
      <transactionValue>
        <value>12.35</value>
      </transactionValue>
      <transactionAcquiredDisposedCode>
        <value>D</value>
      </transactionAcquiredDisposedCode>
    </transactionAmounts>
    <exerciseDate>
      <value>2003-07-10</value>
    </exerciseDate>
    <expirationDate>
      <value>2003-07-10</value>
    </expirationDate>
    <underlyingSecurity>
      <underlyingSecurityTitle>
        <value>Common Stock</value>
      </underlyingSecurityTitle>
      <underlyingSecurityShares>
        <value>40000</value>
      </underlyingSecurityShares>
    </underlyingSecurity>
    <postTransactionAmounts>
      <sharesOwnedFollowingTransaction>
        <value>0</value>
      </sharesOwnedFollowingTransaction>
    </postTransactionAmounts>
    <ownershipNature>
      <directOrIndirectOwnership>
        <value>D</value>
      </directOrIndirectOwnership>
    </ownershipNature>
  </derivativeSecurity>
  <footnotes>
    <footnote id="F1">All unvested portions of these options were accelerated pursuant to the terms of the merger agreement.  After such accelerated vesting, this option was cancelled in the merger in exchange for an aggregate cash payment of $10,000.00, representing the difference between the exercise price of the option and the per share merger consideration ($12.35 per share).  An additional 40,000 options, which were exercisable for a price greater than the merger consideration ($12.35 per share), were cancelled pursuant to the terms of the merger agreement without consideration above that which was paid for options listed in the table above.

</footnote>
  </footnotes>
  <ownerSignature>
    <signatureName>/s/ H. Lance Forsdick</signatureName>
    <signatureDate>2003-07-10</signatureDate>
  </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----