NEW YORK CITY— Repeating for the record his company’s response to what it may ultimately do with the cash influx it received through the sell-off of its Bass brewery operations last year, Six Continents’ David Smith told attendees at the Lodging Industry Investment Council (LIIC) meeting here his company fully intends to spend it… wisely. To this end, he noted the company continues to scour the marketplace for “the right buy.” However, if over the course of the next several months the appropriate acquisition opportunity doesn’t present itself, Smith noted Six Continents is not averse to mounting a share-repurchase as a means of returning money to its shareholders.—Michael Billig
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