United Kingdom
United States
Asia Pacific
Lodgian emerges from bankruptcy
Wednesday, 11 Dec, 2002
0
Hotel owner and operator Lodgian has claimed it and many of its subsidiaries have successfully emerged from its financial problems after filing for bankruptcy protection last year.
A statement from the company said it had staved off bankruptcy with 79 hotels under franchises such as Holiday Inn, Marriott, Hilton and Crowne Plaza.
Meanwhile, 18 hotels will continue under Chapter 11 protection and Lodgian said it plans to sell off nine hotels by the end of March 2003.
Lodgian also has a new $309 million credit facility financed by Merrill Lynch.
The hotel company’s problems had stemmed from a slump in demand following the September 11 terror attacks.
Tony from Gatto’s Pizza on Columbus’s Unique Pizza Trail
Sophia Hyder Hock on Global Social Inclusion in Tourism
Sustainable Tourism: Don Welsh on Community Values and Global Collaboration
Jane Cunningham: Enhancing European Engagement in Tourism
Kristin Dunne: Navigating Destination Strategy
Revolutionizing Mobile Connectivity: Boris Bijlstra on HUBBY eSIM
Capturing Glasgow’s Vibrancy: An Interview with Susan Deighan, Chief Executive of Glasgow Life
Lebua Hotel & Resorts: Rajan Khurana on Hospitality and Bangkok’s Charms
Sustainable Tourism and Growth: Insights from Chiravadee Khunsub from Tourism Authority of Thailand
Revolutionizing Travel: SmartSIM USA’s Dale Takio Unveils the Power of E Sims
TravelMole Interview with Hishan Singhawansa, Deputy CEO of Cinnamon Hotels & Resorts, Sri Lanka
Unveiling the Essence of Magari Tours: A Dive into Authentic Italian Experiences
Abercrombie & Kent hails $500 million funding boost
British Airways passengers endure 11-hour 'flight to nowhere'
CLIA: Anti-cruise demos could cause itinerary changes in Europe
Gatwick braces for strike
Co-pilot faints, easyJet flight issues ‘red alert’