The company is also negotiating with general contractors to renovate 13 additional properties. "Including the additional projects currently under way and planned, we will have refurbished and updated approximately 75% of our core hotel properties by the end of 2005," says Lodgian president and CEO W. Thomas Parrington.

He says the company "made tremendous progress in 2004, bringing to 34 the number of hotels have completed major renovations in the past three years." Parrington says he already is "seeing positive benefits from the completed renovations, the timing of which has dovetailed nicely with the rebound in the hotel industry."

Major renovations are under way at Radisson Phoenix; Radisson Kenner New Orleans Airport; Holiday Inn Winter Haven, FL; Holiday Inn University Mall Pensacola, FL; Holiday Inn Express Pensacola; Crown Plaza West Palm Beach, FL; Holiday Inn Melbourne, FL; Holiday Inn Sante Fe, NM; Crown Plaza Silver Springs, MD; and Holiday Inn Baltimore Inner Harbor.

Slated for upgrades in 2005 are Holiday Inn Hilton Head, SC; Holiday Inn Pittsburgh Meadowlands, PA; Holiday Inn Pittsburgh Monroeville, PA; Holiday Inn Pittsburgh North Hills, PA; Crown Plaza Houston; Holiday Inn Select Strongsville/Cleveland Airport; Holiday Inn St. Paul/Arden Hills, MN; Holiday Inn Myrtle Beach, SC; Holiday Inn Baltimore BWI; Holiday Inn Sheffield, AL; Fairfield Inn by Marriott Augusta, GA; Fairfield Inn by Marriott Jackson, TN; and Fairfield Inn by Marriott Colchester, VT.