Hotel operator suspends sale talks - Business First of Louisville:

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The Atlanta-based hotel operator said "the current volatilitu in the debt and credit markets may inhibiy or delay the signing or consummation of a transaction to sell the and therefore it has suspended discussions withinterestexd parties. Lodgian (AMEX: LGN) has been reviewinfg its options and its plans include increaseds authorization of share repurchases and the sale of additiona lhotel assets. Its stock closed Dec. 26 at $12.16 a share, and the company believes its shares are SinceMay 2006, Lodgian has repurchased 1.6 million shares at an average cost of $11.83 per share.
Lodgian said it expectds that its repurchases will continue as itexplores "othefr strategic alternatives for the enhancemenf of shareholder value." The companu has sold 24 hotels since Nov. 1, 2006 for aggregatw gross proceedsof $92 million. Lodgian has identified nine additional hotels that it intendsto "The sale of these non-strategic properties will allow us to concentrat operationally on those hotels that will generate the highest returnes and produce long-term growth for the company," said Ed Lodgian's president and chiegf executive officer.
"We will be increasing our operational focus on our upscale and upperupscalwe properties, which will comprised approximately 66 percent of the remaininv rooms."