Thomas Parrington Steps Down Under Transition Plan
Reports Status of Hotels in New Orleans
|ATLANTA, Ga., September 12, 2005 — Lodgian, Inc. (AMEX: LGN), one of
the nation’s largest independent owners and operators of full-service hotels,
today announced that Edward J. Rohling, age 51, has been elected to the
position of chief executive officer and a member of the board of directors.
He joined the company July 15 as president.
He replaces W. Thomas Parrington, who has stepped down as chief executive officer and resigned from the board, as part of the planned transition. Parrington will remain active in the hospitality industry.
“Tom did a remarkable job in turning our company around,” Rohling said. “We are wrapping up a $100-million plus renovation program and our portfolio is in highly competitive condition, with properties located in strong and growing markets. In addition, the company has significantly strengthened its balance sheet. Now that Lodgian is in good physical condition, I will focus my efforts on improving operating results through strategic operating plans and retaining and attracting the best people to operate our hotels.”
Rohling has nearly 25 years of hotel experience in operations, marketing, asset management, development and acquisitions. Prior to joining Lodgian, he was the founder and principal of The Rohling Company, Hotel Equity Advisors, which provided acquisition, disposition, consulting and asset management services for more than 100 American and European hotels, working with such clients as Blackstone Real Estate Acquisitions L.L.C. and Apollo Real Estate Advisors.
Previously, Rohling was a general partner of Harvey Hotels, a predecessor of Bristol Hotels & Resorts, and one of the founders of Bristol Hotels, a New York Stock Exchange-listed company. During his 16-year tenure with the companies, Rohling served in a number of operating and executive capacities, concluding his career there as senior vice president of corporate development, where he oversaw acquisitions. He played a key role in his company’s acquisition of United Inns, a New York Stock Exchange-listed hospitality company that owned 26 hotels, and the 1997 acquisition of a portfolio of 45 Holiday Inn hotels and 15 management contracts from Bass PLC.
Prior to Bristol Hotels, Rohling spent five years with the Marriott Corporation. He is the past president and chairman of the Hotel Association of Greater Dallas. He holds a bachelor’s degree from the University of Illinois at Chicago.
Lodgian Reports Status of Hotels in New Orleans Affected by Hurricane Katrina
Lodgian, Inc. today announced that two of its hotels in New Orleans suffered damage as a result of Hurricane Katrina. One hotel remained open and is operating in a limited capacity; the other hotel is closed.
The 244-room Radisson New Orleans Airport in Kenner, La., 10 miles northwest of New Orleans, experienced moderate water damage on the first floor, as well as wind damage to the roof and guest room tower, which affected approximately one-half of the guest rooms. Power has been restored to the property and construction crews have repaired the roof and dried out the building. Currently, two-thirds of the rooms are in very good condition, with the remaining third expected to be back to pre-hurricane status by the end of September.
“Most of the basic services at the property have been restored, including
phone, electricity, and elevators,” said Ed Rohling, president and chief
executive officer. “Public services, like water and trash removal,
remain a challenge. Currently, we are trucking in food and water
as a stopgap measure. To meet the needs of a growing disaster relief
effort, we are providing accommodations for emergency personnel, media,
construction crews and hotel associates, and about half of our rooms are
“We remain deeply concerned about the safety and security of our associates that worked at these hotels and are working diligently to locate and help them,” Rohling said. “To date, we have heard from 60 of the 160 employees that worked at these two properties. We have established a toll-free information line, 1-877-276-7204, for our associates displaced by the storm to provide assistance with questions regarding pay, benefits, temporary housing and other needs. We also have set up a special section on our website that provides emergency information.”
Lodgian is one of the largest independent owners and operators of full-service hotels in the United States. The company currently manages a portfolio of 80 hotels with 14,684 rooms located in 30 states and Canada.
This press release includes forward-looking statements related to Lodgian’s operations that are based on management’s current expectations, estimates and projections.
|Also See:||Edward J. Rohling Appointed President, Lodgian, Inc. / July 2005|
|Lodgian Names W. Thomas Parrington President and CEO / July 2003|