Lodgian Sells 21st Property In Asset Disposition Plan
JACKSON, TN, March 17, 2006. For a sales price of $2.5 million, Lodgian, Inc. has disposed of the 105-room Fairfield Inn in Jackson, TN.
An undisclosed buyer now owns the property, which exhibited a $98,000 net loss in income from 2005 operations. Jones Lang LaSalle Hotels-Select Service Division brokered the sale.
The sale is part of Lodgian's plan to dispose of its non-core properties. Since that program commenced in 2003, Lodgian has sold 21 hotels, including the Fairfield Inn in Jackson.
Lodgian has used $1.6 million of the $2.5 million it gained from the sale to reduce its debt.
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 
