SC 13G 1 dsc13g.htm SCHEDULE 13G SCHEDULE 13G

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

SCHEDULE 13G

 

 

Under the Securities Exchange Act of 1934

 

 

 

LODGIAN, INC.

(Name of Issuer)

 

COMMON STOCK, PAR VALUE $0.01 PER SHARE

(Title of Class of Securities)

 

 

54021P 20 5

                                (CUSIP Number)                                

 

August 2, 2004

(Date of Event Which Required Filing of this Statement)

 

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

 

¨ Rule 13d-1(b)

 

x Rule 13d-1(c)

 

¨ Rule 13d-1(d)

 

*   The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

 

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

CUSIP No. 54021P 20 5

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  1.  

NAME OF REPORTING PERSONS, I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON (ENTITIES ONLY).

 

             Alex R. Lieblong

    
  2.  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP.

(a)  ¨

(b)  ¨

    
  3.  

SEC USE ONLY

 

    
  4.  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

            United States of America

    

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH:

  

  5.    SOLE VOTING POWER:

 

                1,248,700

  6.    SHARED VOTING POWER:

 

                0

  7.    SOLE DISPOSITIVE POWER:

 

                1,248,700

  8.    SHARED DISPOSITIVE POWER:

 

                0

  9.  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

            1,248,700

    
10.  

CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

 

¨ Not applicable

    
11.  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

            5.09%

    
12.  

TYPE OF REPORTING PERSON

 

            IN

    

 

CUSIP No. 54021P 20 5

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  1.  

NAME OF REPORTING PERSONS, I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON (ENTITIES ONLY).

 

            Key Colony Management, LLC

    
  2.  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP.

(a)  ¨

(b)  ¨

    
  3.  

SEC USE ONLY

 

    
  4.  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

            United States of America

    

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH:

  

  5.    SOLE VOTING POWER:

 

                1,248,700

  6.    SHARED VOTING POWER:

 

                0

  7.    SOLE DISPOSITIVE POWER:

 

                1,248,700

  8.    SHARED DISPOSITIVE POWER:

 

                0

  9.  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

            1,248,700

    
10.  

CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

 

¨ Not applicable

    
11.  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

            5.09%

    
12.  

TYPE OF REPORTING PERSON

 

            OO

    

 

CUSIP No. 54021P 20 5

    Page 4 of 9

 

  1.  

NAME OF REPORTING PERSONS, I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON (ENTITIES ONLY).

 

             Key Colony Fund, LP

    
  2.  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP.

(a)  ¨

(b)  ¨

    
  3.  

SEC USE ONLY

 

    
  4.  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

            United States of America

    

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH:

  

  5.    SOLE VOTING POWER:

 

                1,248,700

  6.    SHARED VOTING POWER:

 

                0

  7.    SOLE DISPOSITIVE POWER:

 

                1,248,700

  8.    SHARED DISPOSITIVE POWER:

 

                0

  9.  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

            1,248,700

    
10.  

CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

 

¨ Not applicable

    
11.  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

            5.09%

    
12.  

TYPE OF REPORTING PERSON

 

            PN

    

 

CUSIP No. 54021P 20 5

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ITEM 1.

  

(a)

    NAME OF ISSUER:          
         Lodgian, Inc.          
   

(b)

    ADDRESS OF ISSUER’S PRINCIPAL EXECUTIVE OFFICES:          
         3445 Peachtree Road, N.E., Suite 700, Atlanta, Georgia 30326          

ITEM 2.

  

(a)

    NAME OF PERSON FILING:          
         The names of the reporting persons are Alex R. Lieblong, Key Colony Management, LLC, and Key Colony Fund, LP.          
    (b)    ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE:          
         The business address for all of the reporting persons is 10825 Financial Centre Parkway, Suite 100, Little Rock, Arkansas 72211.          
    (c)    CITIZENSHIP:          
         Alex R. Lieblong is a citizen of the United States of America. Key Colony Management, LLC and Key Colony Fund, LP are entities formed under Delaware law.          
    (d)    TITLE OF CLASS OF SECURITIES:          
         Common Stock, par value $0.01 per share.          
    (e)    CUSIP NUMBER:          
         54021P 20 5          

ITEM 3.

   IF THIS STATEMENT IS FILED PURSUANT TO RULES 13d-1(b), OR 13d-2(b) or (c), CHECK WHETHER THE PERSON FILING IS A:     
    (a)    ¨    Broker or Dealer registered under Section 15 of the Act
    (b)    ¨    Bank as defined in Section 3(a)(6) of the Act
    (c)    ¨    Insurance Company as defined in Section 3(a)(19) of the Act
    (d)    ¨    Investment Company registered under Section 8 of the Investment Company Act

CUSIP No. 54021P 20 5

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    (e)    ¨    Investment Adviser registered under Section 203 of the Investment Advisers Act of 1940
    (f)    ¨    Employee Benefit Plan, Pension fund which is subject to the provisions of the Employee Retirement Income Security Act of 1974 or Endowment Fund; see Section 240.13d-1(b)(1)(ii)(F)
    (g)    ¨    Parent Holding Company, in accordance with Section 240.13b-1(b)(1)(ii)(G)
    (h)    ¨   

Group, in accordance with Section 240.13d-1(b)(1)(ii)(H)

 

Not Applicable

ITEM 4.

    OWNERSHIP.          
The percentage calculations below are based on an assumed 24,531,155 shares of outstanding Common Stock, as shown on the Company’s Form 10-Q/A for the quarter ending on March 31, 2004.

Alex R. Lieblong

     (A)    Amount Beneficially Owned: 1,248,700          
     (B)    Percent of Class: 5.09%          
     (C)    Number of shares as to which such person has:          
          (i)    sole power to vote or direct the vote: 1,248,700          
          (ii)    shared power to vote or to direct the vote: 0          
          (iii)    sole power to dispose or to direct the disposition of: 1,248,700          
          (iv)    shared power to dispose or to direct the disposition of: 0          

All of the 1,248,700 shares reported in (A) above are held by Key Colony Fund, LP.

The filing of this statement shall not be construed as an admission that Mr. Lieblong is, for purposes of Section 13(d) or 13(g) of the Securities Exchange Act of 1934, as amended, or otherwise, the beneficial owner of any securities covered by this statement.

CUSIP No. 54021P 20 5

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Key Colony Management, LLC          
     (A)    Amount Beneficially Owned: 1,248,700          
     (B)    Percent of Class: 5.09%          
     (C)    Number of shares as to which such person has:          
          (i)    sole power to vote or direct the vote: 1,248,700          
          (ii)    shared power to vote or to direct the vote: 0          
          (iii)    sole power to dispose or to direct the disposition of: 1,248,700          
          (iv)    shared power to dispose or to direct the disposition of: 0          
All of the 1,248,700 shares reported in (A) above are held by Key Colony Fund, LP.
The filing of this statement shall not be construed as an admission that Key Colony Management, LLC is, for purposes of Section 13(d) or 13(g) of the Securities Exchange Act of 1934, as amended, or otherwise, the beneficial owner of any securities covered by this statement.
Key Colony Fund, LP
     (A)    Amount Beneficially Owned: 1,248,700          
     (B)    Percent of Class: 5.09%          
     (C)    Number of shares as to which such person has:          
          (i)    sole power to vote or direct the vote: 1,248,700          
          (ii)    shared power to vote or to direct the vote: 0          
          (iii)    sole power to dispose or to direct the disposition of: 1,248,700          
          (iv)    shared power to dispose or to direct the disposition of: 0          

ITEM 5.

    OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.     
     If this statement is being filed to report the fact that as of the date hereof he reporting person has ceased to be the beneficial owner of more than five percent of the class, check the following [ ].          

ITEM 6.

   

OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF

ANOTHER PERSON.

     Not applicable

CUSIP No. 54021P 20 5

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ITEM 7.

   

IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY

WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY

THE PARENT HOLDING COMPANY.

     Not Applicable

ITEM 8.

   

IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF

THE GROUP.

     Not Applicable

ITEM 9.

    NOTICE OF DISSOLUTION OF GROUP.
     Not Applicable

ITEM 10.

    CERTIFICATION.

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

CUSIP No. 54021P 20 5

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SIGNATURE

 

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

August 5, 2004   KEY COLONY FUND, LP
   

By:

  

/s/ Alex R. Lieblong

   

Name:

  

Alex R. Lieblong

   

Title:

  

Manager

   

KEY COLONY MANAGEMENT, LLC

   

By:

  

/s/ Alex R. Lieblong

   

Name:

  

Alex R. Lieblong

   

Title:

  

Manager

   

/s/ Alex R. Lieblong

   

ALEX R. LIEBLONG