Reorganized Lodgian Battles Red Ink

ATLANTA-Lodgian Inc., a reorganized Chapter 11, locally based manager of 97 hotels with 18,265 rooms, reports a third-quarter loss of $3.1 million from continuing operations before income taxes, reorganization items and minority interest.

Revenue was $82.6 million, a 2.2% decline from the predecessor company’s third quarter 2002. The company showed a $600,000 net loss from discontinued operations compared to a $1.6 million loss for the predecessor company in the same period a year ago.

Lodgian also reported a net loss attributable to common stock of $3.6 million, or a loss of 52 cents per share. The predecessor company showed a net loss of $4.6 million, or a 16 cents per share loss.