ATLANTA, Dec. 18, 1998 - Buckhead America Corporation
(Nasdaq: BUCK), the hospitality services company, said its hotel-management
subsidiary, The Lodge Keeper Group Inc., signed contracts effective Jan.
1, 1999 to manage three hotel properties in Florida totaling almost 500
rooms.
Silver Leaf Suites
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The properties include two, 126-room Suburban Lodges of America franchises
under construction in Stuart, Fla., and near Universal Studios in Orlando,
and an independent, 225-unit, all-suites hotel, Silver Leaf Suites, also
near Universal Studios.
The contracts bring to 46 the total number of properties under management
by Lodge Keeper from its operations center in Prospect, Ohio. The company
managed 27 hotels in 1997 when it was acquired by Buckhead America. |
Ronald L. Devine, president of Lodge Keeper, said, "These new contracts
continue a program of improving the scope and quality of our property management
portfolio. We are confident that these hotels' proximity to major attractions
will make them high-volume, high-profile and highly profitable properties."
Lodge Keeper management contracts include Travelodge, Days Inn, Suburban
Lodge, Super 8, Sleep Inn and independent hotels. The company also develops
and manages properties in the Country Hearth Inn lodging system, which
is being developed and franchised nationally by Buckhead America.
"Lodge Keeper is growing rapidly and we expect it to continue to do
so in the future as we expand the Country Hearth Inn system and continue
to pursue management contracts on other quality properties," said Douglas
C. Collins, president and chief executive officer of Buckhead America.
Buckhead America is a diversified hospitality services company whose
holdings include the Country Hearth Inn lodging system and 26 additional
hotels owned or under long-term management contract. Buckhead America common
shares trade on the NASDAQ National Market System under the stock symbol
"BUCK." |