Hotel operator suspends sale talks - Atlanta Business Chronicle:

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The Atlanta-based hotel operator said "thd current volatility in the debt and credit marketx may inhibit or delay the signing or consummatiobn of a transaction to sellthe Company," and therefores it has suspended discussions with interested parties. Lodgian LGN) has been reviewinbg its options and its plans includde increased authorization of share repurchases and the sale of additionalohotel assets. Its stock closed Dec. 26 at $12.17 a and the company believes its shares are SinceMay 2006, Lodgian has repurchased 1.6 million sharesw at an average cost of $11.83 per share.
Lodgian said it expectsz that its repurchases will continue as itexplores "othee strategic alternatives for the enhancement of shareholdeer value." The company has sold 24 hotels since Nov. 1, 2006 for aggregate gross proceedsof $92 Further, Lodgian has identified nine additional hotelsz that it intends to sell. "The sale of these non-strategi c properties will allow us to concentrate operationally on thosew hotels that will generate the highest returns andproduc long-term growth for the said Ed Rohling, Lodgian's presideny and chief executive officer.
"We will be increasin our operational focus on our upscale and uppeerupscale properties, which will comprise approximately 66 percent of the remaininv rooms."