Lead underwriter Merrill Lynch, Pierce, Fenner & Smith Inc. has an option to buy up to an incremental 15% of the common shares offered to cover any over-allotments.
Lodgian manages a portfolio of 92 hotels with 17,417 rooms in 30 states and Canada. Sixty-one hotels in the portfolio are under the InterContinental Hotels Group comprised of Crowne Plaza, Holiday Inn, Holiday Inn Select and Holiday Inn Express; 16 are under Marriott brands including Courtyard by Marriott, Fairfield Inn and Residence Inns, and 10 are affiliated with four other nationally recognized hospitality franchisors. Five hotels are independent, unbranded properties.
Lodgian emerged from Chapter 11 under the US Bankruptcy Code on Nov. 22, 2002 with 78 owned hotels. The hotels were owned by Lodgian subsidiaries Impac Hotels II LLC and Impac Hotels III LLC. When the two subsidiaries filed for court protection on Dec. 5, 2001, Lodgian listed total assets of $1 million and debt of $968.7 million.
Lodgian's fourth quarter and final 2003 financials are reported elsewhere on this page.
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