HENDERSONVILLE, TN— Feeling the impact of losses from the sale of its hotels, ShoLodge, Inc. expects to report net losses for the fourth quarter of 2002 ranging from $20 million to $22 million. The losses, which are approximately $4.00 to $4.30 per share, are also the result of charge-offs of development costs on abandoned hotel development projects and write-downs of notes and accounts receivable due to impaired values of hotels underlying the receivables.
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