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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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<SEC-DOCUMENT>0001181431-04-035472.txt : 20040715
<SEC-HEADER>0001181431-04-035472.hdr.sgml : 20040715
<ACCEPTANCE-DATETIME>20040715170026
ACCESSION NUMBER:		0001181431-04-035472
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040625
FILED AS OF DATE:		20040715

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			OCM REAL ESTATE OPPORTUNITIES FUND II L P
		CENTRAL INDEX KEY:			0001076007

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14537
		FILM NUMBER:		04916309

	BUSINESS ADDRESS:	
		STREET 1:		333 SOUTH GRAND AVE
		STREET 2:		28TH FLOOR
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90071

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LODGIAN INC
		CENTRAL INDEX KEY:			0001066138
		STANDARD INDUSTRIAL CLASSIFICATION:	HOTELS & MOTELS [7011]
		IRS NUMBER:				522093696
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		3445 PEACHTREE ROAD N E SUITE 700
		CITY:			ATLANTA
		STATE:			GA
		ZIP:			30326
		BUSINESS PHONE:		4043649400

	MAIL ADDRESS:	
		STREET 1:		3445 PEACHTREE ROAD N E SUITE 700
		CITY:			ATLANTA
		STATE:			GA
		ZIP:			30326
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd47968.xml
<DESCRIPTION>JUNE 25, 2004 EXCHANGE
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2004-06-25</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001066138</issuerCik>
        <issuerName>LODGIAN INC</issuerName>
        <issuerTradingSymbol>LGN</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001076007</rptOwnerCik>
            <rptOwnerName>OCM REAL ESTATE OPPORTUNITIES FUND II L P</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>333  SOUTH GRAND AVENUE 28TH FLOOR</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>LOS ANGELES</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>90071</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Series A Preferred Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2004-06-25</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>747789</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>747789</value>
                    <footnoteId id="F2"/>
                    <footnoteId id="F3"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2004-06-25</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>1986523</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>2512726</value>
                    <footnoteId id="F4"/>
                    <footnoteId id="F5"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">On June 25, 2004, the reporting person exchanged 747,789 shares of Series A Preferred Stock, par value $0.01 per share (&quot;Preferred Stock&quot;), for 1,986,523 shares of Common Stock, par value $0.01 per share (&quot;Common Stock&quot;), pursuant to the Preferred Share Exchange Agreement, dated as of June 22, 2004, by and among the Issuer and each of the holders of Preferred Stock identified therein (the &quot;Exchange&quot;).</footnote>
        <footnote id="F2">On November 21, 2003, the Issuer paid an in kind dividend pro rata to all holders of Preferred Stock in which the reporting person received 163,214 shares of Preferred Stock (the &quot;Preferred Dividend&quot;).</footnote>
        <footnote id="F3">Ownership after giving effect to the Preferred Dividend and the Exchange.</footnote>
        <footnote id="F4">The Issuer set a record date of April 29, 2004, for a reverse stock split of its outstanding Common Stock in a ratio of one-for-three (1:3) (the &quot;Reverse Split).  The shares of Common Stock received in the Exchange were issued after the Reverse Split.</footnote>
        <footnote id="F5">Ownership after giving effect to the Reverse Split and the Exchange.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Marc Porosoff, Senior Vice President, Legal of Oaktree Capital Management, LLC, general partner of the reporting person</signatureName>
        <signatureDate>2004-07-15</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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