SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549
                     ------------------------------------

                                    FORM 10-Q

                 Quarterly Report Under Section 13 or 15(d) of
                       The Securities Exchange Act of 1934
                 ---------------------------------------------

                     For the Period ended December 31, 1997

                             Commission File 0-11512

                         SUPER 8 ECONOMY LODGING IV, LTD
            -----------------------------------------------------
            (Exact name of registrant as specified in its charter


                  CALIFORNIA                            94 - 2827163
         ------------------------------               ------------------
         (State or other jurisdiction of               (I.R.S. Employer
         incorporation or organization)               Identification No.)


          2030 J Street
          Sacramento, California                           95814
          --------------------------------------       --------------
          Address of principal executive offices          Zip Code



Registrant's telephone number,
including area code                                  (916) 442 - 9183

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed  by  Section  13 or 15 (d) of the  Securities  Exchange  Act of 1934
during the preceding 12 months (or for such shorter  period that the  registrant
was  required  to file such  reports),  and (2) has been  subject to such filing
requirements for the past 90 days.


Yes  XX    No
    ----      ----













<PAGE>














                        SUPER 8 ECONOMY LODGING IV, LTD.

                       (A California Limited Partnership)

                              FINANCIAL STATEMENTS

                           DECEMBER 31, 1997 AND 1996






































<PAGE>



                        SUPER 8 ECONOMY LODGING IV, LTD.


                       (A California Limited Partnership)

                                      INDEX

Financial Statements:                                           PAGE

   Balance Sheet - December 31, 1997 and September 30, 1997       2

   Statement of Operations - Three Months Ended
   December 31, 1997 and 1996                                     3

   Statement of Changes in Partners' Equity -
   Three Months Ended December 31, 1997 and 1996                  4

   Statement of Cash Flows - Three Months Ended
   December 31, 1997 and 1996                                     5

   Notes to Financial Statements                                  6

   Management Discussion and Analysis                             7

   Other Information and Signatures                             8 - 10































<PAGE>
                        Super 8 Economy Lodging IV, Ltd.
                       (A California Limited Partnership)
                                  Balance Sheet
                    December 31, 1997 and September 30, 1997

                                                        12/31/97       9/30/97
                                                       ----------    ----------
                                     ASSETS
Current Assets:
   Cash and temporary investments                     $   984,493   $ 1,079,735
   Accounts receivable                                     42,618        54,290
   Prepaid expenses                                         7,067        13,463
                                                       ----------    ----------
    Total current assets                                1,034,178     1,147,488
                                                       ----------    ----------

Property and Equipment:
   Land                                                   799,311       799,311
   Buildings                                            2,246,419     2,246,419
   Furniture and equipment                                521,798       519,267
                                                       ----------    ----------
                                                        3,567,528     3,564,997
   Accumulated depreciation                            (1,849,338)   (1,824,868)
                                                       ----------    ----------

    Property and equipment, net                         1,718,190     1,740,129
                                                       ----------    ----------

Other Assets:                                              63,975        63,975
                                                       ----------    ----------

    Total Assets                                      $ 2,816,343   $ 2,951,592
                                                       ==========    ==========

                        LIABILITIES AND PARTNERS' EQUITY
Current Liabilities:
   Accounts payable and accrued liabilities           $    88,295   $   126,020
                                                       ----------    ----------
    Total current liabilities                              88,295       126,020
                                                       ----------    ----------

    Total liabilities                                      88,295       126,020
                                                       ----------    ----------

Contingent Liabilities (See Note 1)

Partners' Equity:
   General Partners                                          (601)       (2,128)
   Limited Partners                                     2,728,649     2,827,700
                                                       ----------    ----------
    Total partners' equity                              2,728,048     2,825,572
                                                       ----------    ----------

Total Liabilities and Partners' Equity                $ 2,816,343   $ 2,951,592
                                                       ==========    ==========

    The accompanying notes are an integral part of the financial statements.

                                      - 2 -
<PAGE>

                        Super 8 Economy Lodging IV, Ltd.
                       (A California Limited Partnership)
                             Statement of Operations
             For the Three Months Ending December 31, 1997 and 1996

                                                      Three Months  Three Months
                                                          Ended         Ended
                                                        12/31/97      12/31/96
                                                       ----------    ----------

Income:
    Guest room                                        $   430,035   $   427,216
    Telephone and vending                                   9,604        13,054
    Interest                                                9,931         9,170
    Other                                                      69           296
                                                       ----------    ----------
     Total Income                                         449,639       449,736
                                                       ----------    ----------

Expenses:
    Motel operating expenses (Note 2)                     214,960       206,149
    General and administrative                             32,872        27,478
    Depreciation and amortization                          27,355        28,038
    Property management fees                               21,976        22,005
                                                       ----------    ----------
     Total Expenses                                       297,163       283,670
                                                       ----------    ----------

    Net Income (Loss)                                 $   152,476   $   166,066
                                                       ==========    ==========

Net Income (Loss) Allocable
 to General Partners                                       $1,525        $1,661
                                                         ========      ========

Net Income (Loss) Allocable
 to Limited Partners                                     $150,951      $164,405
                                                         ========      ========

Net Income (Loss)
 per Partnership Unit                                      $15.10        $16.44
                                                          =======      ========

Distribution to Limited Partners
 per Partnership Unit                                      $25.00        $18.75
                                                          =======      ========









    The accompanying notes are an integral part of the financial statements.

                                      - 3 -
<PAGE>

                        Super 8 Economy Lodging IV, Ltd.
                       (A California Limited Partnership)
                          Statement of Partners' Equity
             For the Three Months Ending December 31, 1997 and 1996




                                                        12/31/97      12/31/96
                                                       ----------    ----------
General Partners:
  Balance, beginning of year                          $    (2,128)  $   (10,707)
    Net income (loss)                                       1,525         1,661
                                                       ----------    ----------
      Balance, End of period                                 (603)       (9,046)
                                                       ----------    ----------


Limited Partners:
  Balance, beginning of year                            2,827,700     2,740,835
    Net income (loss)                                     150,951       164,405
    Distributions to Limited Partners                    (250,000)     (187,500)
                                                       ----------    ----------
      Balance, End of Period                            2,728,651     2,717,740
                                                       ----------    ----------

      Total Partners' Equity                          $ 2,728,048   $ 2,708,694
                                                       ==========    ==========



























    The accompanying notes are an integral part of the financial statements.

                                      - 4 -
<PAGE>
                        Super 8 Economy Lodging IV, Ltd.
                       (A California Limited Partnership)
                             Statement of Cash Flows
             For the Three Months Ending December 31, 1997 and 1996

                                                        12/31/97      12/31/96
                                                       ----------    ----------
Cash Flows from Operating Activities:
 Received from motel revenues                         $   448,972   $   440,383
 Expended for motel operations and
  general and administrative expenses                    (300,274)     (273,769)
 Interest received                                         12,339         8,536
                                                       ----------    ----------
   Net Cash Provided (Used) by Operating Activities       161,037       175,150
                                                       ----------    ----------

Cash Flows from Investing Activities:
 Purchases of property and equipment                       (6,279)      (16,324)
 Proceeds from sale of land                                   -             500
                                                       ----------    ----------
   Net Cash Provided (Used) by Investing Activities        (6,279)      (15,824)
                                                       ----------    ----------

Cash Flows from Financing Activities:
 Distributions to limited partners                       (250,000)     (187,500)
                                                       ----------    ----------
   Net Cash Provided (Used) by Financing Activities      (250,000)     (187,500)
                                                       ----------    ----------

    Net Increase (Decrease) in Cash and
     Temporary Investments                                (95,242)      (28,174)

Cash and Temporary Investments:
   Beginning of period                                  1,079,735       938,477
                                                       ----------    ----------

   End of period                                      $   984,493   $   910,303
                                                       ==========    ==========

Reconciliation of Net Income (Loss) to Net Cash Provided (Used) by
 Operating Activities:

 Net Income (Loss)                                    $   152,476   $   166,066
                                                       ----------    ----------
  Adjustments to reconcile net income to net cash used by operating activities:
    Depreciation and amortization                          27,355        28,038
    (Gain) loss on disposition of property
     and equipment                                            863          (500)
    (Increase) decrease in accounts receivable             11,672          (817)
    (Increase) decrease in prepaid expenses                 6,396         4,887
    Increase (decrease) in accounts payable               (37,725)      (22,524)
                                                       ----------    ----------
      Total Adjustments                                     8,561         9,084

     Net Cash Provided (Used) by Operating Activities $   161,037   $   175,150
                                                       ==========    ==========
    The accompanying notes are an integral part of the financial statements.

                                      - 5 -
<PAGE>

                        Super 8 Economy Lodging IV, Ltd.
                       (A California Limited Partnership)
                          Notes to Financial Statements
                           December 31, 1997 and 1996

Note 1:

The attached interim financial  statements include all adjustments which are, in
the opinion of management,  necessary to a fair statement of the results for the
period presented.

Users  of  these  interim  financial  statements  should  refer  to the  audited
financial  statements  for the year  ended  September  30,  1997 for a  complete
disclosure  of  significant  accounting  policies and practices and other detail
necessary for a fair presentation of the financial statements.

In accordance  with the  partnership  agreement,  the following  information  is
presented  related to fees paid to the General  Partners or  affiliates  for the
period.

Property Management Fees                         $   21,976
Franchise Fees                                   $    8,611

Partnership  management  fees  and  subordinated  incentive   distributions  are
contingent  in nature  and none have been  accrued or paid  during  the  current
period.

Note 2:

The following table summarizes the major components of motel operating  expenses
for the following periods:

                                                      Three Months  Three Months
                                                          Ended         Ended
                                                        12/31/97      12/31/96
                                                       ----------    ----------

Salaries and related costs                            $    89,396   $    76,202
Franchise and advertising fees                             21,529        21,388
Utilities                                                  17,168        16,252
Allocated costs,
 mainly indirect salaries                                  26,837        24,547
Replacements and renovations                                1,896         5,651
Other operating expenses                                   58,134        62,109
                                                       ----------    ----------

Total motel operating expenses                        $   214,960   $   206,149
                                                       ==========    ==========




The following additional material contingencies are required to be stated in the
interim reports under federal securities law: None.



                                      - 6 -
<PAGE>

                        SUPER 8 ECONOMY LODGING IV, LTD.
                       (A California Limited Partnership)
                       MANAGEMENT DISCUSSION AND ANALYSIS
                 OF FINANCIAL CONDITION AND RESULTS OF OPERATION
                                DECEMBER 31, 1997

LIQUIDITY AND CAPITAL RESOURCES

         The  Partnership's  current  assets of $1,034,178  exceeded its current
liabilities  of $88,295  providing  an operating  reserve of $945,883,  which is
greater than the $455,000 target set by the General Partners.

         In the  unlikely  event  that the  Partnership's  reserves  do not meet
operating needs,  the  Partnership's  Pleasanton,  California motel will provide
substantial collateral against additional debt.

         The Partnership has no material  commitments for capital  expenditures.
The  Partnership's  guideline for  replacements  and renovation  expenditures is
approximately  3% of room  revenues.  Applicable  expenditures  during the first
three  months of the fiscal  year which will end on  September  30,  1998,  were
$8,175 or 1.9% of room revenues.  Expenditures  of this type are not expected to
exceed the General Partners' 3% guideline on a yearly basis.

RESULTS OF OPERATIONS

         The following is a comparison of operating  results for the three month
periods ended December 31, 1997 and December 31, 1996.

         Total revenues were virtually  unchanged.  Guest room revenue increased
$2,819 or 0.7% for the current  period.  Although the occupancy  rate  decreased
from 76.2% in 1996 to 70.8% in 1997, its effect on room revenue was offset by an
increase in the average room rate from $59.71 in 1996 to $64.64 in 1997.

         Total  expenditures  increased  $13,494 or 4.8% during the three months
covered by this report as compared to the previous fiscal year.


FUTURE TRENDS

         The  General  Partners  expect the  Pleasanton  motel to  continue  its
improved  performance if the current improvement in the general economic climate
continues.

         In the opinion of management,  these financial  statements  reflect all
adjustments  which were necessary to a fair statement of results for the interim
periods presented. All adjustments are of a normal recurring nature.










                                      - 8 -

<PAGE>

                        PART II.   OTHER INFORMATION
                        ----------------------------


     Item 1.                  Legal Proceedings
                              -----------------
      On October 27, 1997 a complaint  was filed in the United  States  District
Court,  Eastern District of California by the registrant,  Grotewohl  Management
Services,  Inc. (a general  partner of the  registrant)  and four other  limited
partnerships  (together with the  registrant,  the  "Partnerships")  as to which
Grotewohl  Management  Services,  Inc. serves as general partner (i.e.,  Super 8
Motels,  Ltd.,  Super  8  Motels  II,  Ltd., Super  8  Motels  III,  Ltd.,   and
Famous Host Lodging V, L.P.),  as plaintiffs.  The complaint names as defendants
Everest/Madison   Investors,   LLC,  Everest  Lodging  Investors,  LLC,  Everest
Properties,  LLC, Everest  Partners,  LLC,  Everest  Properties II, LLC, Everest
Properties,  Inc., W. Robert  Kohorst,  David I. Lesser,  The Blackacre  Capital
Group, L.P.,  Blackacre Capital Management Corp.,  Jeffrey B. Citron,  Ronald J.
Kravit,  and Stephen B. Enquist.  The factual basis  underlying the  plaintiffs'
causes  of  actions  pertains  to  tender  offers  directed  by  certain  of the
defendants  to limited  partners  of the  Partnerships,  and to  indications  of
interest made by certain of the  defendants  in  purchasing  the property of the
Partnerships.  The complaint  requests the following  relief:  (i) a declaration
that each of the defendants has violated Sections 13(d),  14(d) and 14(e) of the
Securities  Exchange  Act of  1934  (the  "Exchange  Act"),  and the  rules  and
regulations  promulgated by the Securities and Exchange  Commission  thereunder;
(ii) a declaration that certain of the defendants have violated Section 15(a) of
the  Exchange  Act and the  rules  and  regulations  thereunder;  (iii) an order
permanently enjoining the defendants from (a) soliciting tenders of or accepting
for purchase  securities of the  Partnerships,  (b) exercising any voting rights
attendant to the securities already acquired,  (c) soliciting  proxies,  and (d)
violating  Sections 13 or 14 of the  Exchange  Act or the rules and  regulations
promulgated  thereunder;  (iv) an order enjoining certain of the defendants from
violating  Section  15(a) of the  Exchange  Act and the  rules  and  regulations
promulgated  thereunder;  (v) an order  directing  certain of the  defendants to
offer to each person who sold securities to such defendants the right to rescind
such sale; and (vi) a declaration that the Partnerships  need not provide to the
defendants  a list  of  limited  partners  in  the  Partnerships  or  any  other
information  respecting the Partnerships  which is not publicly  available.  The
plaintiffs  have not yet  received an answer of the  defendants  respecting  the
complaint.















                                      - 8 -

<PAGE>

     On October  28,  1997 a complaint  was filed in the  Superior  Court of the
State of California,  Sacramento  County by Everest Lodging  Investors,  LLC and
Everest/Madison  Investors,  LLC, as plaintiffs,  against  Philip B.  Grotewohl,
Grotewohl Management Services,  Inc., Kenneth M. Sanders,  Robert J. Dana, Borel
Associates,  and BWC  Incorporated,  as  defendants,  and the  Partnerships,  as
nominal  defendants.  The factual basis underlying the causes of action pertains
to the  receipt  by the  defendants  of  franchise  fees  and  reimbursement  of
expenses,  the  indications of interest made by the plaintiffs in purchasing the
properties of the nominal defendants,  and the alleged refusal of the defendants
to provide  information  required by the terms of the Partnership's  partnership
agreement and California law. The complaint requests the following relief: (i) a
declaration  that  the  action  is a  proper  derivative  action;  (ii) an order
requiring the defendants to discharge their fiduciary duties to the Partnerships
and to enjoin them from breaching their fiduciary duties;  (iii) disgorgement of
certain profits; (iv) appointment of a receiver; and (v) an award for damages in
an amount to be determined.  The defendants and nominal defendants have recently
been served and are formulating their response to the complaint.


     Item 2.                  Changes in Securities
                              ---------------------
                                 None

     Item 3.                  Defaults upon Senior Securities
                              -------------------------------
                                 None

     Item 4.                  Submission of Matters
                              ---------------------
                                 None

     Item 5.                  Other Information
                              -----------------
                                 None

     Item 6.                  Exhibits and Reports on Form 8-K
                              --------------------------------
                                 None



















                                     - 9 -
<PAGE>






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







                              SUPER 8 ECONOMY LODGING IV, LTD


              2-12-98         By /S/ David P. Grotewohl
              -------         -------------------------
               Date           David P. Grotewohl,
                              President of Grotewohl
                              Management Services, Inc.,
                              Managing General Partner







              2-12-98         By /S/ David P. Grotewohl
              -------         -------------------------
               Date           David P. Grotewohl,
                              Chief Financial Officer






















                                     - 10 -