Parrington has been serving as Lodgian's interim CEO since April when the company completed its reorganization plan for the US Bankruptcy Court. Former CEO David E. Hawthorne, who directed the firm's reorganization efforts and emergence from Chapter 11, resigned in May as he had previously planned to do, the company stated in earlier statements.
Lodgian emerged from Chapter 11 with 78 hotels on Nov. 25, 2002. In January of this year, the company returned eight hotels to a lender to satisfy a debt. Another hotel was returned to the lessor of a capital lease. The remaining 18 hotels left bankruptcy protection on May 22. The company has a minority interest in another hotel which was not part of the bankruptcy proceedings.
In Parrington, Lodgian gets a 30-year hospitality industry professional who has held executive positions with public and private hotel companies such as Marriott, Ramada and Interstate Hotels. At Interstate, Parrington was CEO after serving as chief operating officer and chief financial officer.
"Tom has a long and distinguished career in the hospitality industry, as well as a proven track record and outstanding leadership abilities," says Lodgian chairman Russel S. Bernard. "His hands-on experience will be a tremendous asset to Lodgian as the company charts a new course and a return to profitability."
Lodgian's total 97-hotel portfolio covers 30 states and Canada. Eighty-two hotels are franchised under the InterContinental Hotels Group (Crowne Plaza, Holiday Inn, Holiday Inn Select and Holiday Inn Express) and Marriott brands (Courtyard by Marriott, Fairfield Inn and Residence Inns). Ten hotels are affiliated with other nationally recognized hospitality franchises. Five hotels are independent, unbranded properties.
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