Press Release: Lodgian, Inc.
January 11, 2001
ATLANTA, GA -- Lodgian, Inc. (NYSE: LOD), yesterday 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® Index, representing small cap stocks, and the Russell 3000® 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.