Lodgian to Continue Stock Repurchase Program
APRIL 17, 2008. Lodgian, Inc. (AMEX: LGN), one of the nation's largest independent owners and operators of full-service hotels, announced today that its Board of Directors has authorized the repurchase of an additional $10 million of its common stock over a period ending no later than April 15, 2009. This repurchase program follows a $30 million repurchase program announced in August 2007. Under that program, the company repurchased approximately 2.8 million shares at an average price of $10.62 per share, fulfilling that authority on April 7, 2008.
Any purchases under Lodgian, Inc.'s stock repurchase program may be made, from time to time, in the open market, through block trades or otherwise, including pursuant to a trading plan under Rule 10b5-1 of the Securities and Exchange Act of 1934, as amended. Depending on share price, market conditions, Lodgian's cash requirements, and other factors, these purchases may be commenced or suspended at any time or from time to time without prior notice. Repurchased shares will be held as treasury stock, and will be available for use in connection with the company's stock option plans and other compensation programs, or for other corporate purposes as determined by the company's board of directors. As of April 11, 2008, the company had 21,975,210 shares of common stock outstanding.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
