| ATLANTA, Georgia, February 7, 2005 - Thompson Calhoun Fair, LLC, an
Atlanta-based hotel real estate firm, announced today that it advised Lodgian,
Inc. in the disposition of the Four Points by Sheraton Hotel in Niagara
Falls, New York. The Sheraton is a 189-room, full-service hotel situated
on an approximately 2.8-acre parcel of land in the heart of the Niagara
Falls� downtown sector. Hotel amenities include an indoor swimming
pool, a Jacuzzi/sauna, a fitness center, a gift shop and game room.
In addition, the hotel offers a restaurant and lounge, as well as four
meeting rooms comprising approximately 3,644 total square feet of space.
The property was sold to a private investment group for an undisclosed
sum.
Tom Papelian, vice president of the firm stated, �The city of Niagara
Falls is about to experience dynamic growth and redevelopment that is led
by a strong commitment on the part of the city, the state of New York and
private enterprise. Long lagging the explosive growth occurring along
the Canadian side of Niagara Falls, the U.S. destination has established
clear objectives for growth and redevelopment that will soon help to rival
its Canadian competitor for international gaming and tourism.
| The Sheraton is among the finest
hotels in the market and features one of the city�s best hotel locations.
The intended future capital improvement plan for the Sheraton will help
to strengthen the property�s future performance and more effectively serve
the market�s growth in regional, national and international tourism�.
About Thompson Calhoun Fair
Thompson Calhoun Fair was formed to focus on servicing the transaction
needs of clients in all segments of the hotel industry. Founded in
2000, Thompson Calhoun Fair is headquartered in Atlanta |
From the left - Al Calhoun, Mark G. Fair (sitting),
and H. Keith Thompson |
and is national in scope. Thompson Calhoun Fair can be found on the Web
at www.tcfhotels.com. |