ATLANTA, July 22, 1999 - Buckhead America Corporation
(Nasdaq: BUCK), the hospitality services company, said it signed an agreement
with Primedia Ltd., a Lexington, Ky.-based hotel and office development
company, for the development of six Country Hearth Inn hotels in northern
Ohio during the next five years. Primedia will develop properties
using the Country Hearth Inn �Rural Gold� 40-unit design prototype that
is targeted at smaller, rural markets. The company is reviewing sites in
smaller northern Ohio communities near the Lake Erie shore.
Anthony Cantagallo, managing partner of Primedia, said, �Northern Ohio
is blessed with light industry, numerous small private colleges and Lake
Erie tourism, but it is grossly under-served by the hospitality industry.
We believe Country Hearth Inn �Rural Gold� is an ideal product to respond
to this need.�
Country
Hearth Inns are mid-priced hotels that serve both the business traveler
and vacationer. The hotels combine the homey atmosphere of a bed- and-breakfast,
including an expanded complimentary breakfast, manager�s reception and
free local telephone calls, with the convenience of a modern hotel. Buckhead
America is expanding the chain through franchise sales and company development.
The Country Hearth Inn lodging system totals 46 operating hotels and 24
additional hotels in various stages of development. Primedia marks Buckhead
America�s ninth master development agreement calling for development of
more than 100 Country Hearth Inns.
Buckhead America is a diversified hospitality services company whose
holdings include the Country Hearth Inn lodging system and 31 additional
hotels owned, leased and/or managed. Buckhead America common shares
trade on the Nasdaq National Market System under the stock symbol �BUCK.� |