SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 10-QSB

[X]  Quarterly Report under Section 13 or 15d of the Securities  Exchange Act of
     1934 for the quarterly period ended: March 31, 2001

[ ]  Transition report pursuant to Section 13 or 15d of the Securities  Exchange
     Act of 1934 For the Transition period from ________ to _________.


                         Commission file number: 333-45210


                               Supreme Hospitality
                               -------------------
             (Exact name of registrant as specified in its charter)


                             Formerly Richwood, Inc.
                            Formerly Grubstake, Inc.
                            ------------------------
                   (Former name if changed since last report)

       Nevada                                        88-0460457
---------------------------                 ------------------------------------
(State of incorporation)                    (IRS employer identification number)

                              41919 Skywood Drive
                            Temecula, CA 92591-1877
                            -----------------------
                    (Address of principal executive offices)

          Issuer's telephone number, including area code: 909-506-3435

Check whether the issuer (1) filed all reports required to be filed by Section
13 or 15(d) of the  Exchange  Act during the past 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
     ---       ---


State the number of shares outstanding of each of the issuer's classes of common
equity, as of the latest practicable date:

TITLE OF EACH CLASS                            OUTSTANDING March 31, 2001
-------------------                            ---------------------------------
Common Stock, par value  $.0001                10,000,000 shares of common stock
Preferred Stock, par value  $.0001             None



Transitional Small Business Disclosure Format (check one)
Yes       No  X
    ---      ---





<PAGE>


                                TABLE OF CONTENTS


Part I     Financial Information                                            Page

 Item 1.   Financial Statements:

           Consolidated Condensed  Balance Sheets
           March 31, 2001 (unaudited) and December 31, 2000.................. 3

           Consolidated Condensed Statements of Operations for the
           three months ended March 31, 2001 and 2000 (unaudited)............ 4

           Consolidated Condensed Statements of Cash Flows for the
           three months ended March 31, 2001 and 2000 (unaudited)............ 5

           Notes to Financial Statements (unaudited)......................... 6


 Item 2.  Management's Discussion and Analysis or Plan of Operation.......... 7


PART II - OTHER INFORMATION

 Item 1.  Legal Proceedings.................................................. 9

 Item 2.  Change in Securities............................................... 9

 Item 3.  Defaults Upon Senior Securities.................................... 9

 Item 4.  Submission of Matters to a Vote of Security Holders................ 9

 Item 5.  Other Information.................................................. 9

 Item 6.  Exhibits and Reports on Form 8-K................................... 9

         Signature...........................................................10




<PAGE>



<TABLE>

<CAPTION>
                       SUPREME HOSPITALITIY AND SUBSIDIARY
                           CONSOLIDATED BALANCE SHEET
                      MARCH 31, 2001 AND DECEMBER 31, 2000
              (SUBSTANTIALLY ALL ASSETS ARE PLEDGED AS COLLATERAL)

                                     ASSETS
                                                             March 31, 2001   December 31, 2000
                                                             --------------   -----------------
                                                               (unaudited)

<S>                                                          <C>              <C>

CURRENT ASSETS:
     Cash                                                      $    55,256      $     2,677
     Trade accounts receivable                                      67,022           53,116
     Other                                                           3,848            4,615
                                                               -----------      -----------
                Total current assets                               126,126           60,408
                                                               -----------      -----------

PROPERTY AND EQUIPMENT AT COST NET                               4,939,878        5,000,886
                                                               -----------      -----------
OTHER ASSETS:
     Deferred offering costs                                        81,750           81,000
     Other Assets                                                   10,178           10,200
     Loan fees, net                                                 19,789           21,034
     Initial franchise fee, net                                     23,333           24,333
                                                               -----------      -----------
                Total other assets                                 135,050          136,567
                                                               -----------      -----------
                Total assets                                   $ 5,201,054      $ 5,197,861
                                                               ===========      ===========

                      LIABILITIES AND STOCKHOLDERS' DEFICIT

CURRENT LIABILITIES:
     Trade accounts payable                                    $   244,673      $   234,159
     Related party loans                                           634,288          492,123
     Accrued  liabilities                                          169,638          126,368
     Current maturities of long-term debt                          278,686          287,309
                                                               -----------      -----------
                Total current liabilities                        1,327,285        1,139,959


LONG-TERM DEBT, LESS CURRENT MATURITIES                          4,875,952        4,936,555
                                                               -----------      -----------
                Total liabilities                                6,203,237        6,076,514
                                                               -----------      -----------


COMMITMENTS AND CONTINGENCIES

STOCKHOLDERS' EQUITY ( DEFICIT)
     Preferred stock, $.0001 par value; authorized 1,000,000
       shares; none outstanding
     Common stock; $.0001 par value; authorized 50,000,000
       shares; 10,000,000 outstanding                                1,000            1,000
     Paid-in capital                                                 1,500            1,500
     Pre-merger capital (deficit)                                 (691,927)        (691,927)
     Post-merger accumulated (deficit)                            (312,756)        (189,226)
                                                               -----------      -----------
                Total stockholders' equity (deficit)            (1,002,183)        (878,653)
                                                               -----------      -----------
                Total liabilities and stockholders' deficit    $ 5,201,054      $ 5,197,861
                                                               ===========      ===========

</TABLE>




                 SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS
                                                                               3
<PAGE>

                       SUPREME HOSPITALITIY AND SUBSIDIARY
                 CONSOLIDATED CONDENSED STATEMENT OF OPERATIONS
               FOR THE THREE MONTHS ENDED MARCH 31, 2001 AND 2000
                                   (UNAUDITED)



                                                March 31, 2001    March 31, 2000
                                                --------------    --------------

REVENUES                                         $    400,368      $    315,203
                                                 ------------      ------------

OPERATING EXPENSES:
       Selling, general and administrative            312,436           191,357
       Depreciation and amortization                   68,025            68,487
       Interest                                       143,436           149,923
                                                 ------------      ------------
             Total operating expenses                 523,897           409,767
                                                 ------------      ------------

LOSS FROM OPERATIONS                             $   (123,529)     $    (94,564)
                                                 ------------      ------------

NET LOSS PER SHARE                               $      (0.01)     $      (0.01)
                                                 ============      ============

WEIGHTED AVERAGE NUMBER OF
   SHARES OUTSTANDING-BASIC                        10,000,000        10,000,000
                                                 ============      ============


















                 SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS

                                                                               4
<PAGE>

<TABLE>

<CAPTION>

                               SUPREME HOSPITALITY
                      CONSOLIDATED STATEMENT OF CASH FLOWS
                           FOR THE THREE MONTHS ENDED
                             MARCH 31, 2001 AND 2000
                                   (UNAUDITED)


                                                                     2001        2000
                                                                  ---------    ---------
<S>                                                               <C>          <C>

CASH FLOWS FROM OPERATING ACTIVITIES
      Net (loss)                                                  $(123,530)   $ (94,564)
      Adjustments to reconcile net (loss) to net cash provided:
          Depreciation and amortization                              68,025       68,487
          (Increase) decrease in  assets
             Trade accounts receivable                              (13,906)      (4,378)
             Other current assets                                       767         (979)
          Increase(decrease) in  liabilities
              Trade accounts payable                                 10,514       31,624
              Accrued liabilities                                    34,647        5,218
                                                                  ---------    ---------

               NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES     (23,483)       5,409
                                                                  ---------    ---------

CASH FLOWS FROM INVESTING ACTIVITIES
          Deferred offering costs                                      (750)     (24,500)
          Other                                                       1,022        3,000
                                                                  ---------    ---------
               NET CASH( USED BY) INVESTING ACTIVITIES                  272      (21,500)
                                                                  ---------    ---------

CASH FLOWS FROM FINANCING ACTIVITIES
          Purchase of equipment                                      (5,772)        --
          Related party loans                                       142,165       57,372
          Loan repayments                                           (60,603)     (53,770)
               NET CASH PROVIDED BY FINANCING ACTIVITIES             75,790        3,602

               NET INCREASE (DECREASE) IN CASH                       52,579      (12,489)
                                                                  ---------    ---------
               CASH, AT BEGINNING OF PERIOD                           2,677       13,499
                                                                  ---------    ---------
               CASH, AT END OF PERIOD                             $  55,256    $   1,010
                                                                  =========    =========


SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
          Cash paid for interest                                    100,642       70,686
                                                                  =========    =========

</TABLE>









                 SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS
                                                                               5
<PAGE>

Note 1. BASIS OF PRESENTATION

In the opinion of management,  the accompanying  unaudited  condensed  financial
statements have been prepared in accordance with generally  accepted  accounting
principles for interim  financial  information and with the instructions to Form
10-QSB.  Accordingly,  they do not include all of the  information and footnotes
required by generally  accepted  accounting  principles  for complete  financial
statements. In the opinion of management,  all adjustments (consisting of normal
recurring  accruals)  considered  necessary  for  a  fair  presentation  of  the
Company's  financial  position  as of  March  31,  2001 and the  results  of its
operations  and cash flows for the three  months  ended March 31, 2001 and 2000.
Operating  results for the three months ended March 31, 2001 are not necessarily
indicative  of the results that may be expected for the year ended  December 31,
2001.

These  condensed  financial  statements  should be read in conjunction  with the
financial  statements  and notes thereto  contained in the Company's Form 10-KSB
for the year ended December 31, 2000














                                                                               6
<PAGE>

Item 2 - Management's Discussion And Analysis Or Plan Of Operations

The Company  was  organized  for the purpose of creating a corporate  vehicle to
seek,  investigate and, if such investigation  warrants,  acquire an interest in
one or more  business  opportunities  presented to it by persons or firms who or
which desire to seek perceived  advantages of a publicity held  corporation.  On
April 30, 2000 the Company (SUPREME  HOSPITALITY)  acquired TEMECULA VALLEY INN,
INC., (a Nevada corporation) as a wholly owned subsidiary of Supreme Hospitality
in exchange of Common Stock,  Sub Curia.  The primary activity of the Company is
the  hospitality  business  for both the business  and leisure  traveler,  and a
90-room hotel was built and opened in 1998. The executive offices of the company
are located at 41919 Skywood Drive,  Temecula,  California  92591. Its telephone
number is (909) 506-3435.  Of the 50,000,000 shares of the SUPREME HOSPITALITY'S
Common  Stock,  1,000,000  are  currently  freely  tradable  under the Rule 144k
exemption  promulgated  under the  Securities  Act of 1933.  There  are  another
9,000,000 shares of restricted common stock outstanding. See Item 8 "Description
of Securities."

The Company may obtain funds for additional hotel construction or acquisition by
private  placements,  equity or debt issues.  Persons  purchasing  securities in
these placements and other  shareholders will likely not have the opportunity to
participate in the decision relating to any acquisition.  Investors will entrust
their investment monies to the Company's management before they have a chance to
analyze any  ultimate  use to which their  money may be put.  Consequently,  the
Company's  potential success is heavily  dependent on the Company's  management,
which  will  have  virtually   unlimited   discretion  in  new  construction  or
acquisition.

The Company plans to develop and construct  additional  properties in the future
and has an  option to  purchase  for  $1,300,000,  approximately  2.61  acres of
approved  hotel  property,  including  a complete  package  which  consists of a
business  plan,  construction  costs,  drawings,  etc.  This property is located
adjacent to Interstate 5 and Hilltop Drive in Redding,  California.  This parcel
is the last available hotel property in this immediate area. The current plan is
to exercise  the purchase  option and develop and build a 97-room  hotel on this
property. This development is anticipated to be the next development the Company
will undertake.  The application has been submitted to the City of Redding for a
use permit and is awaiting  final city  approval.  The cost is  estimated  to be
$5,850,000  for land,  building and  improvements.  Construction  is expected to
commence in the fourth quarter of 2001.

The Company is evaluating  other properties in the western portion of the United
States to  acquire,  develop  and build  hotels.  This will be done  through the
raising of  additional  equity  funds.  An  additional  property in the Temecula
Valley is being  evaluated with possible  construction to commence in the fourth
quarter  of  2002.  Development  cost  for a  120-room  hotel  is  estimated  at
$7,800,000 for land development, building and improvements.

The  management  of the  Company  believes  that the  Temecula  Valley area will
continue to see unprecedented  growth not seen since the mid 1980's. The Company
is poised to take  advantage  of that  growth,  given it can meet its  financial
requirements.

The Company  believes that through the  acquisition  of the land and  subsequent
development  of these  properties,  shareholder  value  will be  increased.  The
management  team has the expertise to identify prime  properties and negotiate a
fair price for the land and develop it and build a quality facility,  which will
increase in value.

As is customary in the industry, the Company may pay a finder's fee for locating
an  acquisition  prospect.  If any such fee is paid,  it will be approved by the
Company's  Board of  Directors  and  will be in  accordance  with  the  industry
standards.  Such  fees  are  customarily  between  1% and 5% of the  size of the
transaction,  based upon a sliding scale of the amount  involved.  Such fees are
typically in the range of 5% on a $1,000,000 transaction ratably down to 1% in a
$4,000,000 transaction. Management has adopted a policy that such a finder's fee
or real estate  brokerage fee could,  in certain  circumstances,  be paid to any
employee,  officer,  director or 5% shareholder  of the Company,  if such person
plays a material role in bringing in a transaction to the Company.
                                                                               7

<PAGE>


Item 3 - Description Of Property

A 90-room 3-story hotel, Temecula Valley Days Inn (TVI) in Temecula, California,
was  constructed  and opened for business on December 5, 1998.  It is one of the
premier hotel properties in the Temecula Valley.  Though cyclical in nature, the
TVI's  occupancy  rates  have  continued  to  grow.  TVI  has  entered  into  an
international franchise agreement with Days Inns Worldwide in the fourth quarter
of 2000.  TVI has  developed  its own website to take  advantage  of the growing
Internet market. The property's web address is www.temeculadaysinn.com.

The Company currently serves the business traveler who requires  perceived value
for  the  nightly  rate  he/she  pays.   Through  active  marketing  to  various
corporations  the  Company  has  been  successful  during  its  first  years  of
operations of attracting a reasonable volume of corporate business. On weekends,
the Company  attracts  customers  who are  typically  in town to attend  various
community functions including but not limited to the "Balloon and Wine Festival"
and the "Rod Run".  During the summer  months there are  activities  in the area
almost every weekend.  Occupancy rates during these weekends  approached 100% on
average during the first year of operations.

There are 11 hotels and motels,  with 810 rooms, in the community area including
Temecula Valley Inn. The property has excellent  visibility and easy access from
Interstate 15. There are numerous  restaurants  within  walking  distance of the
Hotel.

The Company is at its break-even point and can satisfy its cash  requirements in
the foreseeable future. The Company expects occupancy rates to steadily increase
every year due to its marketing efforts and the growth of Temecula Valley.


"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT:

With the  exception of  historical  information,  the matters  discussed in this
Report are "forward looking statements" as the term is defined in Section 27A of
The Securities Act of 1933, as amended (the "Securities Act") and Section 21E of
The Securities  Exchange Act of 1934, as amended (the "Exchange Act").  While we
Believe that our strategic plan is on target, several important factors, many of
Which are beyond our control, have been identified which could cause the
Successful  implementation  of our  business  plan  to  differ  materially  from
planned,  implied or predicted results. We are a development stage company;  our
profitability  will depend upon the  successful  implementation  of our business
plan or a merger or acquisition by a more  established  company in the industry.
Although   management   believes  that  the  expectations   reflected  in  these
forward-looking  statements are reasonable,  it can give no assurances that such
expectations will prove to have been correct. Important factors that could cause
actual results to differ  materially from the expectations are discussed in this
Report, including, without limitation, in conjunction with those forward-looking
statements contained in this Report.


                                                                               8
<PAGE>



PART II - OTHER INFORMATION

Item 1 - Legal Proceedings
--------------------------

To the best of the Company's knowledge,  there are no material legal proceedings
pending against the Company or any of its property,  nor was any such proceeding
terminated during the quarter ended March 31, 2000.

Item 2 - Change In Securities
-----------------------------

This item is not applicable.


Item 3 - Defaults Upon Senior Securities
----------------------------------------

This item is not applicable.

Item 4 - Submission Of Matters To A Vote Of Security Holders
------------------------------------------------------------

This item is not applicable.

Item 5 - Other Information
--------------------------

This item is not applicable.

Item 6 - Exhibits And Reports On Form 8-K
-----------------------------------------

This item is not applicable.


                                                                               9
<PAGE>


                                    SIGNATURE

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.



Dated:     Temecula, CA
           May 18, 2001                         Supreme Hospitality



                                            By: /s/  Larry W. Lang
                                                --------------------------------
                                                     Larry W. Lang
                                                     Chief Executive Officer









                                                                              10