May 21--The Inland Empire's newest public company has ambitious plans for business travelers. 

Supreme Hospitality (OTC BB: SUHO), a Temecula-based hotel management firm, already counts the 90-room Temecula Valley Days Inn Business Place, formerly the Temecula Valley Inn, as a wholly owned subsidiary. 

But within two years, Supreme hopes to build another $7.8 million, 120-room hotel in Temecula. In addition, plans are under way to begin construction by this fall on a 97-room hotel in Redding at an estimated cost of $5.8 million. 

Larry Lang, president of Supreme Hospitality, is no stranger to the Inland Empire. 

He built the Temecula Valley Days Inn and was responsible for the joist design of the Ontario Mills. 

Lang purchased the land for the Redding property in early 1998, but decided to build his first hotel in Temecula -- the Days Inn -- after visiting the area. 

"When I saw Temecula, I chose to build there first because it was a hot property, and because of the growth potential," Lang said. "I've been here since 1997, began construction (on the Temecula Valley Days Inn) in 1998, and since I've been here, it's been nothing but construction all over the place." 

Lang said he recently applied for permits to begin construction on the Redding hotel, the second project in what he hopes will become a small hotel empire. With 21 employees, Supreme reported $1.4 million in revenue in 2000, according to documents filed with the Securities and Exchange Commission. 

Lang didn't take the usual route -- an initial public offering -- when he took his company public in June 2000. 

Instead, he orchestrated a reverse merger with a publicly traded shell company called Richwood Inc. By turning the Temecula Valley Inn into a wholly owned subsidiary of Richwood--and then changing the parent company's name to Supreme Hospitality--he effectively created a new public company with 10 million outstanding shares. 

Lang said he wanted to go public so he could generate capital for new hotels. 

"As we see fit there will be other offerings, that will be based on what are needs are to make the company grow," Lang said. "As we expand, if we need the money we will issue more shares." 

Supreme pays a monthly 8.5 percent franchise fee to Days Inn of America. 

"I own the hotels, they do the marketing for us," said Lang. 

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(c) 2001, The Business Press, Ontario, Calif. Distributed by Knight Ridder/Tribune Business News. SUHO, MLS, CD,