ATLANTA, Jan. 10 /PRNewswire/ -- Lodgian, Inc. (NYSE: LOD), today reported
that it has filed its Form 10-Q for the quarter ended September 30, 2000, with
the SEC. The Company's independent auditor, Arthur Andersen, has completed
its limited review of the interim unaudited financial statements included in
the Form 10-Q in accordance with SAS71 as required by SEC regulations. The
financial statements included in the Form 10-Q contain no changes from the
financial statements included in the Company's November 30, 2000, press
release. The Form 10-Q will be on the Company's website at www.lodgian.com
later today. Management anticipates having a timely filing with the SEC of
its full year 2000 audited financial statements.
About Lodgian
Lodgian, Inc. owns or manages a portfolio of 114 hotels with approximately
21,400 rooms in 32 states and Canada. The hotels are primarily full service,
providing food and beverage service, as well as meeting facilities.
Substantially all of Lodgian's hotels are affiliated with nationally
recognized hospitality brands such as Holiday Inn, Crowne Plaza, Marriott,
Sheraton, and Hilton.
Lodgian's common shares are listed on the New York Stock Exchange under
the symbol LOD. Lodgian is a component of both the Russell 2000(R) Index,
representing small cap stocks, and the Russell 3000(R) Index, representing the
broader market.
Forward-Looking Statements
Note: Statements in this press release that are not strictly historical
are forward-looking statements that are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements involve known and unknown risks, which may cause
the Company's actual results in the future to differ materially from expected
results. These risks include, among others: competition within the lodging
and contract service industries; the relationship between supply and demand
for hotel rooms; the effects of economic conditions; issues associated with
the ongoing integration of the former Servico, Inc. and Impac Hotel Group,
LLC; the acquisition and renovation of existing hotels and the development of
new hotels; operating risks; the cyclical nature of the lodging industry;
risks associated with the dependence on franchisers of the Company's lodging
properties; and the availability of capital to finance planned growth, as
described in the Company's filings with the Securities and Exchange
Commission.
For more information on Lodgian toll-free via fax, dial 1-800-PRO-INFO
(1-800-776-4636), follow the voice menu prompts and enter the company ticker
LOD (or 563) or visit the Lodgian page on the FRB web site at www.frbinc.com .
Visit Lodgian at www.lodgian.com .
SOURCE Lodgian, Inc.
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