-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, RIosBpIR9hZytjMr2pkpwTTElj3pXb/a3aVNxSIWSOxCR5snOIZ0fsrLqWJzdTr/ Mi6IEkVzM1SAD6c5L77Kng== 0000950152-97-003018.txt : 19970423 0000950152-97-003018.hdr.sgml : 19970423 ACCESSION NUMBER: 0000950152-97-003018 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19970404 ITEM INFORMATION: Acquisition or disposition of assets FILED AS OF DATE: 19970421 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: BOYKIN LODGING CO CENTRAL INDEX KEY: 0001015859 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 341824586 STATE OF INCORPORATION: OH FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-11975 FILM NUMBER: 97584150 BUSINESS ADDRESS: STREET 1: 1500 TERMINAL TOWER STREET 2: 50 PUBLIC SQUARE CITY: CLEVELAND STATE: OH ZIP: 44113 BUSINESS PHONE: 2162416375 MAIL ADDRESS: STREET 1: 1500 TERMINAL TOWER STREET 2: 50 PUBLIC SQUARE CITY: CLEVELAND STATE: OH ZIP: 44113 FORMER COMPANY: FORMER CONFORMED NAME: BOYKIN LODGING TRUST INC DATE OF NAME CHANGE: 19960604 8-K 1 BOYKIN LODGING COMPANY CURRENT REPORT 1 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities and Exchange Act of 1934 Date of Report: April 4, 1997 ------------- (Date of earliest event reported) Boykin Lodging Company ---------------------- (Exact Name of registrant as specified in its charter)
Ohio 001-11975 34-1824586 ---- --------- ---------- (State or other jurisdiction of (Commission File Number) (IRS Employer Identification Incorporation) Number)
Terminal Tower, Suite 1500, 50 Public Square, Cleveland, Ohio 44113-2258 ------------------------------------------------------------- ---------- (Address of Principal Executive Offices) (Zip Code) (216) 241-6375 -------------- (registrant's telephone number, including area code) 2 ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS - -------------------------------------------- French Lick, Indiana business purchase - -------------------------------------- On April 4, 1997, the Company acquired the French Lick Springs Resort in French Lick, Indiana. The acquisition price was $20 million and was funded with cash proceeds from the Company's secured line of credit obtained in November 1996 from a lending syndicate led by Lehman Brothers Holdings, Inc. The seller was French Lick Springs Resort, Inc., a privately held corporation. Neither the Company nor any of its shareholders, directors or officers own any interests in the seller. The independent resort, opened in 1904, contains 485 guest rooms in four and six story guest wings, has approximately 60,000 square feet of meeting space including a 24,000 square foot exhibit hall, an 88 seat gourmet dining room, a 300 seat family dining room, a 100 seat country club dining room and lounge, a 175 seat Bistro, a 600 seat showroom, the 60 seat Derby bar, several retail shops, indoor and outdoor pools, a six lane bowling alley, complete spa facilities (including mineral baths, massages, facials, hair styling and exercise equipment), two 18 hole golf courses, indoor and outdoor tennis facilities, horseback riding trails and other full service resort hotel amenities. The purchase includes approximately 2,050 acres of land, six main buildings, and several outbuildings. The Company has leased the resort to Boykin Management Company Limited Liability Company (the Lessee), an entity in which the Company's chairman and chief executive officer, Robert W. Boykin, owns a 53.8% interest. The Lessee will continue the business of operating the resort. In determining the price to be paid for the resort, the Company considered the historical and expected cash flow from the hotel, the nature of the occupancy and average daily rate trends, current operating costs and taxes, the physical condition of the property, the potential to increase its cash flow and other factors including the sales prices of similar properties. No independent appraisal of the resort was performed in connection with the acquisition. Based upon the Company's initial review of the financial statements of the seller, the Company believes that the acquisition may involve a business which is significant under Rule 11.01 (b) and (d) of Regulation S-X. If its final review confirms this belief, the Company intends to amend this report within 60 days to provide the necessary financial statements. 3 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. BOYKIN LODGING COMPANY Date: April 21, 1997 By: /s/ RAYMOND P. HEITLAND Raymond P. Heitland, Chief Financial Officer
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