Hotel Firm's Stock Offering Totals $175M

ATLANTA-Lodgian Inc. is putting 175 million of common stock shares on the market as it enters a new corporate restructuring and acquisition phase. Lodgian filed its registration statement with the Securities and Exchange Commission.

Lead underwriter Merrill Lynch, Pierce, Fenner & Smith Inc. has an option to buy up to an incremental 15% of the common shares offered to cover any over-allotments.

Lodgian manages a portfolio of 92 hotels with 17,417 rooms in 30 states and Canada. Sixty-one hotels in the portfolio are under the InterContinental Hotels Group comprised of Crowne Plaza, Holiday Inn, Holiday Inn Select and Holiday Inn Express; 16 are under Marriott brands including Courtyard by Marriott, Fairfield Inn and Residence Inns, and 10 are affiliated with four other nationally recognized hospitality franchisors. Five hotels are independent, unbranded properties.