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Buckhead America Will Report Loss Even as It Plans to Open Six New Inns

ATLANTA-As local economies have felt the pinch of a slowdown and competition in economy hotels has increased, the locally based hotel company says it will be selling 10 operating hotels with about 400 rooms for an undisclosed price to pay down debt and fund new acquisitions.

By Judith Schonbak | Updated on January 30, 2001

ATLANTA-Buckhead America is performing a balancing act. On the one hand, the metro-based firm is selling 10 hotels with about 400 rooms for an undisclosed price, reorganizing the Lodge Keeper Group, the hotel management segment of its business, and planning to report a loss for 2000.

On the other hand, it is expanding its Country Hearth brand and opening more than six Country Hearth Inns in the Southeast this quarter, with plans to add properties throughout the year.

It also expects to report a profit during the second half of 2001, Bill Bausser, the firm’s senior vice president/administration, tells GlobeSt.com. In 1999, Buckhead America reported a net income of $1.7 million, or 61 cents per share. Total revenue was $32.3 million.

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