POINT ROBERTS, WA— William Marshall, president and major shareholder of Budgethotels Network, Inc., this week sold 1.5 million shares and granted an option on an additional 3 million shares to two private investment companies, Western Eagle Resources Corp. and WMDC Investments Ltd. The move was among developments intended to facilitate the raising of funds for the company’s expansion program. Additionally, at a board of directors meeting, William Marshall was appointed chairman of the board and CEO and J. Lewis Dillman was appointed president/COO and director. Budgethotels provides hotel and travel-related reservations services through its network of 86 reservations centers located in major transportation terminals across North America. The company also provides worldwide budget hotel accommodations at over 40,000 properties through its web site.
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