-----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,
 Jur/KBHsh4+71tGupUtDCWwV2y/kRz5QBk81exWc8nkwbjEi2tUfqBBB4Ybbb6Gd
 CKgx/q+E7IhgoGat/2ZPtg==

<SEC-DOCUMENT>0001104659-03-014725.txt : 20030715
<SEC-HEADER>0001104659-03-014725.hdr.sgml : 20030715
<ACCEPTANCE-DATETIME>20030714185158
ACCESSION NUMBER:		0001104659-03-014725
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030710
FILED AS OF DATE:		20030715

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			STOKES JOHN W JR
		CENTRAL INDEX KEY:			0001191849

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12011
		FILM NUMBER:		03786084

	MAIL ADDRESS:	
		STREET 1:		850 RIDGE LAKE BLVD
		STREET 2:		STE 300
		CITY:			MEMPHIS
		STATE:			TN
		ZIP:			38120

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
</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>0001191849</rptOwnerCik>
            <rptOwnerName>STOKES JOHN W JR</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>68980</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>6000</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/ John W. Stokes</signatureName>
    <signatureDate>2003-07-10</signatureDate>
  </ownerSignature>
</ownershipDocument>

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