ATLANTA— Lodgian has obtained $80 million in new funding and is bringing the remaining 18 properties out of Chapter 11 status. New York-based Lehman Brothers Holdings Inc. is underwriting the loan. At the same time, the firm said W. Thomas Parrington, a Lodgian director and former CEO of Washington, DC-based Interstate Hotels Co., was named the interim CEO, taking over for David Hawthorne who has resigned to pursue other business interests. “My role was to restructure the companys finances and operations,” Hawthorne says in a statement. “We have successfully completed that process, and the company has the plan and people in place to effectively move forward.” Hawthorne is also resigning as a company director. Lodgian emerged from Chapter 11 with 78 hotels on Nov. 25, 2002. The 18 hotels are owned by Lodgian subsidiaries Impac Hotels II LLC and Impac Hotels III LLC.
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