|ARLINGTON HEIGHTS, Ill., August 2, 2005 - Arlington Hospitality,
Inc. (Nasdaq/SmallCap: HOST), a hotel development and management company,
today announced that it has retained Chanin Capital, L.L.C., an affiliate
of Chanin Capital Partners (“Chanin”), to serve as Arlington’s exclusive
financial advisor in connection with Arlington’s efforts to restructure
its debt and/or equity capital. Chanin will assist Arlington’s board
of directors and management in analyzing the company and its business and
financial prospects with a view towards developing a plan for negotiating
with the company’s existing creditors and other stakeholders.
Chanin is comprised of more than 50 dedicated professionals in London, Los Angeles, and New York. Since its founding in 1984, Chanin has completed more than $146 billion in financial recapitalization and restructuring transactions, and has consummated more than $29 billion in mergers & acquisitions transactions. Chanin has been consistently ranked as one of the leading restructuring and bankruptcy advisory firms in the United States.
Arlington Hospitality, Inc. is a hotel development and management company that builds, operates and sells mid-market hotels. Arlington is the nation's largest owner and franchisee of AmeriHost Inn hotels, a mid-market, limited-service hotel brand owned and presently franchised in 20 states and Canada by Cendant Corporation (NYSE: CD), with over 100 properties. Currently, Arlington Hospitality, Inc. owns or manages 35 AmeriHost Inn hotels in nine states, for a total of 2,400 rooms, with additional AmeriHost Inn & Suites hotels under development.
This press release may contain forward-looking statements. Forward-looking statements are statements that are not historical, including statements regarding management's intentions, beliefs, expectations, representations, plans or predictions of the future, and are typically identified by words such as "believe," "expect," "anticipate," "intend," "estimate," "may," "will," "should," and "could."
James B. Dale, Chief Financial Officer
|Also See:||Jerry H. Herman Resigning as President and CEO of Arlington Hospitality / November 2004|
|Arlington Hospitality Garners HVS ‘Top Board’ Award; Arlington’s Herman, Belmonte Accept Lodging Leadership Award at 26th Annual NYU International Hospitality Industry Conference / July 2004|