Lodgian to Explore Strategic Alternatives
JANUARY 22, 2007. Lodgian, Inc. (AMEX:LGN) , one of the nation's largest independent owners and operators of full-service hotels, announced today that it has initiated a review of strategic alternatives available to the company to enhance shareholder value.
The company has retained Goldman, Sachs & Co. and Genesis Capital, L.L.C., to assist in the review. There can be no assurance that the review will result in any specific strategic or financial transaction. The company does not intend to announce developments with respect to the exploration of strategic alternatives unless and until its board of directors has approved a specific alternative.
Lodgian is one of the largest independent owners and operators of full- service hotels in the United States. The company currently manages a portfolio of 69 hotels with 12,540 rooms located in 28 states and Canada. Of the company's 69-hotel portfolio, 42 are InterContinental Hotels Group brands (Crowne Plaza, Holiday Inn, Holiday Inn Select and Holiday Inn Express), 13 are Marriott brands (Courtyard by Marriott, Fairfield Inn, SpringHill Suites and Residence Inn), and 11 are affiliated with four other nationally recognized hospitality franchisors such as
Hilton and Carlson (Radisson and Park Inn). Three hotels are independent, unbranded properties. Three hotels are owned by partnerships, in each of which Lodgian has at least a 50 percent equity interest, and is the operating partner for each.
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 
