Press Release: Arlington Hospitality, Inc.
August 16, 2002
ARLINGTON HEIGHTS, IL -- Arlington Hospitality, Inc. (Nasdaq/NM: HOST) yesterday announced the results of the election
of the Board of Directors. At its annual meeting held yesterday in Arlington Heights, Illinois, the shareholders
elected by a plurality of the vote the following as Directors to serve on the Company's Board.
Michael P. Holtz
Salomon J. Dayan
Thomas J. Romano
Gerald T. LaFlamme
Kenneth M. Fell
Steven J. Belmonte
Russell J. Cerqua
Following the election of Directors, Michael P. Holtz, President and Chief Executive Officer served notice to
the new Board that he will resign all positions with the Company and its subsidiaries in six months. In addition,
Russell J. Cerqua and Michael P. Holtz notified the Board that they will not accept the position of Director for
the Company. After discussions with the Board, Mr. Holtz agreed to stay on the Board as long as he is employed
by the Company. The Board agreed that this decision will not have an adverse impact to Mr. Holtz with regard to
his employment agreement with the Company. The Board is in the process of forming a search committee to recruit
and replace the position of President and Chief Executive Officer.
Arlington Hospitality, Inc. is a hotel management and development company that builds and manages mid-priced hotels.
As of August 15, 2002, Arlington Hospitality, Inc. owns or manages 77 properties in 17 states, including 65 AmeriHost
Inn hotels, for a total of 5,747 rooms, with four additional AmeriHost Inn & Suites hotels under construction.
Each hotel offers an amenity package not often found in other mid-priced hotels.
The statements appearing in this press release can be construed as forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934,
as amended. These statements are subject to risks and uncertainties that could cause actual results to differ materially
from those set forth in the forward-looking statements, including without limitation, risks relating to the development
and operation of hotels, the availability of capital to finance growth, and the historical cyclicality of the lodging
industry.
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Contact:
Arlington Hospitality, Inc.
James B. Dale, 847/228-5401 x 361
jimdale@arlingtonhospitality.com