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ATLANTA-As part of a previously announced plan to shed 27 hotels, locally based Lodgian Inc. has sold two hotels for an aggregate price of $5.6 million. The hotels sold were the 202-room Holiday Inn hotel in Fort Wayne, IN and the 159-room Holiday Inn in Bridgeport, WV. The buyers were not disclosed. The proceeds of the sale will be used for general corporate purposes.

The sale was part of a plan announced in November 2006 to shed 27 hotels. At the time the planned sales were announced, they were expected to generate aggregate sales proceeds of $115 million to $122 million, based upon sales contracts, letters of intent, broker opinions of value or management estimates.

“Our disposition program continues as planned,” says Lodgian CEO Ed Rohling, in a prepared statement. “We now have sold 22 of the 27 non-core hotels designated in the program, have an additional three properties under contract and two hotels being actively marketed.”

The Holiday Inn in Bridgeport experienced a net loss of $106,000 for the 12-month period which ended June 30 and the Holiday Inn in Fort Wayne experienced an $83,000 net loss, according to Lodgian.

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