UNITED STATES

                    SECURITIES AND EXCHANGE COMMISSION

                         Washington, D. C. 20549

                                FORM 10-Q/A
    
(Mark One)
/ X/          QUARTERLY REPORT UNDER SECTION 13 OR 15(D)
               OF THE SECURITIES EXCHANGE ACT OF 1934

              For the quarterly period ended March 31, 1997

                                    OR

/   /              TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D)
               OF THE SECURITIES EXCHANGE ACT OF 1934

         For the transition period from __________ to __________

                     Commission File Number:  0-28108

                     Suburban Lodges of America, Inc.

         Georgia                                 58-1781184
(State of Incorporation)                     (I.R.S. Employer
                                             Identification No.)


                           1000 Parkwood Circle
                                Suite 850
                          Atlanta, Georgia 30339
                 (Address of principal executive offices)


                               770-951-9511
           (Registrant's telephone number, including area code)


     Indicate by check mark whether the registrant has filed all
documents and reports required to be
filed by Sections 12, 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 / X /  NO /  /


     Number of shares of Common Stock, $.01 par value outstanding as of 
March 31, 1997:

                                12,127,502<PAGE>
                         Suburban Lodges of America, Inc.

                                   INDEX


PART I.  FINANCIAL INFORMATION
                                                                          PAGE
Item 1.  Financial Statements

         Balance Sheets at December 31, 1996 and March 31, 1997
              (unaudited)                                                   3
    
         Statements of Operations for the three month periods ended         4
              ended March 31, 1996 and March 31, 1997 (unaudited)

         Statements of Cash Flows for the three month periods ended         5
              March 31, 1996 and March 31, 1997 (Unaudited)

         Notes to Financial Statements                                      6-7
       
         Signatures                                                         10



                               Page 2<PAGE>
                        Suburban Lodges of America, Inc.
                          Consolidated Balance Sheets
<TABLE>
<CAPTION>
                                                                    (Unaudited)

                                                                        March 31,          December 31,
                                                                          1997                 1996
                                                                       ------------        -----------
                                               ASSETS
<S>                                                                    <C>                <C>
CURRENT ASSETS: 
   Cash and cash equivalents                                           $ 55,962,296       $ 78,340,278
   Accounts receivable, trade                                               106,283             95,158
   Prepaid and other assets                                               1,289,783          1,075,057
   Advances to affiliates                                                    26,000             50,000
   Current deferred tax asset                                                65,026             55,026
                                                                        -----------         ----------
      Total current                                                      57,449,388         79,615,519
                                                                        -----------         ----------

NONCURRENT DEFERRED TAX ASSET                                               201,717            375,118
DEFERRED EXPENSES-net                                                       567,124            265,651
INVESTMENT IN FACILITIES- at cost: 
   Land                                                                   8,374,642          4,351,868
   Building                                                              59,809,074         31,069,119
   Furniture and fixtures                                                 3,297,603          1,414,595
   Equipment                                                              2,157,792          2,405,849
   Construction in progress                                              13,112,880         14,224,492
                                                                        -----------         ----------
                                                                         86,751,991         53,465,923
   Less accumulated depreciation                                          3,170,446          2,721,819
                                                                        -----------         ----------
      Net investment in facilities                                       83,581,545         50,744,104
                                                                        -----------         ----------
                                                                       $141,799,774       $131,000,392
                                                                        ===========        ===========

                                    LIABILITIES AND SHAREHOLDERS' EQUITY 

CURRENT LIABILITIES:
   Accounts payable, trade                                             $    687,403       $    758,209
   Construction accounts payable                                            279,462          2,025,518
   Accrued interest                                                           9,478             94,042
   Accrued expenses and other liabilities                                   812,332            403,219
   Unearned franchise fees                                                  360,820            297,820
   Income taxes payable                                                     627,002            228,083
                                                                       ------------        -----------
   Total current                                                          2,776,497          3,806,891


DEFERRED INCOME TAX PAYABLE                                                  64,003               -
LONG-TERM DEBT AND CAPITAL LEASES OBLIGATIONS                            15,007,251         15,000,000
                                                                       ------------        -----------
    Total liabilities                                                    17,847,751         18,806,891

SHAREHOLDERS' EQUITY(DEFICIT):
   Common stock                                                             121,776            115,258
   Additional paid-in capital                                           120,558,759        110,063,881
   Retained earnings (deficit)                                            3,271,488          2,014,362
                                                                       ------------        -----------
      Total shareholders' equity                                        123,952,023        112,193,501
                                                                       ------------        -----------

                                                                      $ 141,799,774       $131,000,392
                                                                       ============        ===========
/TABLE
<PAGE>
                           Suburban Lodges of America, Inc.
                       Consolidated Statements of Operations

<TABLE>
<CAPTION>
                                                               Mar 31, 1996           Mar 31, 1997
                                                               ------------           ------------
<S>                                                             <C>                   <C>
REVENUE:
  Room revenue                                                  $1,366,141            $3,449,567 
  Other hotel revenue                                               86,322               237,927 
  Franchise and other revenue                                      216,860               235,170 
                                                                 ---------             ---------
     Total revenue                                               1,669,323             3,922,664 
                                                                 ---------             ---------

COSTS AND EXPENSES:
  Hotel operating expenses                                         652,581             1,867,721 
  Corporate operating expenses                                     274,022               400,959 
  Related party consulting                                           6,000
  Depreciation and amortization                                    116,250               466,000 
                                                                 ---------             ---------
     Total costs and expenses                                    1,048,853             2,734,680 
                                                                 ---------             ---------
OPERATING INCOME                                                   620,470             1,187,984 

INTEREST INCOME                                                                          769,972 
INTEREST EXPENSE                                                  (286,280)               (1,247)
                                                                 ---------             ---------
                                                                   334,190             1,956,709 
INCOME TAX EXPENSE                                                 (26,561)             (699,528)
                                                                 ---------             ---------
NET INCOME                                                        $307,629            $1,257,181 
                                                                 =========             =========

Earnings per common share                                                                  $0.11 
                                                                                           =====

Pro forma earnings per share                                         $0.06
                                                                     =====

Weighted average shares outstanding                              3,322,251            11,733,061
                                                                 =========            ==========
/TABLE
<PAGE>
                                 Suburban Lodges of America, Inc.
                                     Statements of Cash Flows
<TABLE>
<CAPTION>
                                                                                 Three Months
                                                                        -----------------------------
                                                                           1996                 1997
                                                                        --------          -----------
<S>                                                                   <C>                 <C>
OPERATING ACTIVITIES:
Net income                                                            $   307,629         $  1,257,181 
Adjustments to reconcile net income to 
  net cash provided by operating activities:
  Depreciation and amortization                                           116,250              466,000 
  Changes in assets and liabilities:
     Trade receivables, net                                                                    (11,125)
     Prepaid expenses and other assets                                   (260,471)            (214,726)
     Advances to affiliates                                               (25,000)              24,000 
     Current deferred tax asset                                            26,561              (10,000)
     Noncurrent deferred tax asset                                                             173,401 
     Deferred expenses, net                                                                   (318,901)
     Accounts payable, trade                                               67,630              (70,806)
     Accrued expenses                                                     108,221              409,113 
     Accrued interest                                                      (6,103)             (84,564)
     Unearned franchise fees                                                                    63,000 
     Noncurrent deferred tax liability                                                          64,003 
     Income taxes payable                                                                      398,919 
                                                                     ------------          -----------
          Net cash provided by operating                                  334,717            2,145,495
                                                                     ------------          -----------
INVESTING ACTIVITIES:
    Construction accounts payable                                       (208,524)          (1,746,056)
    Capital expenditures                                              (1,593,030)         (10,278,817)
                                                                      ----------          -----------
          Net cash used in investing activities                       (1,801,554)         (12,024,873)
                                                                     ------------          -----------
FINANCING ACTIVITIES:
    Repayment of debt from acquisition properties                                         (12,470,420)
    Proceeds from issuance of long-term debt                           1,742,203 
    Principal payments on long-term debt                                 (79,844)
    Payments on advances to affiliates                                    40,000 
    Payments on capital lease obligations                                 (6,291)
    Offering costs                                                                            (28,184)
    Distributions to partners                                           (149,500)
                                                                     ------------          -----------
         Net cash provided by financing activities                     1,546,568           (12,498,604)
                                                                     ------------          -----------

NET CHANGE IN CASH AND CASH EQUIVALENTS                                   79,731          (22,377,982)

CASH AND CASH EQUIVALENTS AT 
   BEGINNING OF PERIOD                                                   687,432           78,340,278 
                                                                     ------------          -----------
CASH AND CASH EQUIVALENTS AT
   END OF PERIOD                                                      $  767,163          $55,962,296 
                                                                       =========           ==========
/TABLE
<PAGE>
                     Suburban Lodges of America, Inc.
                      Notes to Financial Statements
                               (Unaudited)


1.   BASIS OF PRESENTATION

     The accompanying unaudited financial statements have been prepared
pursuant to the rules and regulations of the Securities and Exchange
Commission for reporting on Form 10-Q.  Accordingly, certain information
and footnotes required by generally accepted accounting principles for
complete financial statements have been omitted.  In the opinion of
management, all adjustments, consisting of normal recurring adjustments,
which are necessary for a fair presentation of financial position and
results of operations have been made.  These interim financial statements
should be read in conjunction with the consolidated historical financial
statements and notes thereto, presented in the Company's Annual Report on
Form 10-K for the year ended December 31, 1996, and the Company's
Registration Statement on Form S-1(No. 333-3876), as amended, (the
"Registration Statement") and the Company's prospectus, dated May 23,
1996, filed with the Securities and Exchange Commission.

All significant intercompany balances and transactions have been
eliminated.


1.   EARNINGS PER SHARE 

     Earnings per common share for the three month period ended March 31,
1997 are computed by dividing net income by the weighted average shares
outstanding for the period.  

     Prior to May 28, 1996, the assets of the Company were owned and
operated by Suburban Lodges of America, Inc. and its affiliates and the
Predecessor Entities.  The outstanding shares or other equity interests
of the Predecessor Entities differ substantially from the shares of
common stock of the Company outstanding after the Offering.  Accordingly,
the Company believes that the presentation of historical per share
information may not be meaningful.  

     The pro forma earnings per share for the three month period ended
March 31, 1996 have been calculated by dividing net income adjusted to
provide for income taxes (approximately $125,000 for the three month
period ended March 31, 1996) assuming a 37.5% effective tax rate by the
weighted average number of shares of common stock deemed to be
outstanding during the period.  Prior to May 29, 1996, the Company was
not fully subject to income taxes because it consisted of partnerships
and limited liability companies; however, if they had been subject to
income taxes, pro forma net income after taxes would have been
approximately $208,869 for the three month period ended March 31, 1996. 

     In accordance with Accounting Principles Board Opinion No. 15, the
Company has also computed supplemental earnings per common share to be
$0.06 for the three month period ended March 31, 1996.  Supplemental net
income of approximately $374,000 for the three month period ended March
31, 1996 has been computed by adjusting historical net income for ( i )
the elimination of interest expense on debt  repaid with a portion of the
proceeds of the Offering; (ii) the inclusion of certain additional
corporate



                                  Page 6<PAGE>
operating expenses; (iii) adjustments to depreciation and amortization;
(iv) the inclusion of Forest Park for the entire period; and (v) the
computation of income taxes for the period at a rate of 37.5%.   For the
period January 1, 1996 to May 29, 1996, the supplemental weighted average
number of common shares outstanding is based upon outstanding shares for
the beginning of the period of 6,622,251 which were shares issued in
connection with the Corporate Organization and its related stock split
and the offering as described in the Company's Registration Statement. 
Through May 29, 1996, shares outstanding for purposes of computing
supplemental earnings per share exclude 1,925,705 shares issued relative
to amounts used for general corporate purposes.

        
                                 Page 7<PAGE>
                                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 thereunto duly authorized.



                              Suburban Lodges of America, Inc.


   
Date:  September 15, 1997     By:  /s/ DAVID E. KRISCHER
                                     David E. Krischer
                                     Chairman of the Board, 
                                     President
                                     Chief Executive Officer


   
Date:  September 15, 1997     By:  /s/ TERRY J. FELDMAN
                                     Terry J. Feldman
                                     Vice President
                                     Chief Financial Officer
                                     (Principal Financial Officer)