SEC FORM 4/A

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

LIEBLONG ALEX R

(Last)

(First)

(Middle)

10825 FINANCIAL CENTRE PARKWAY

SUITE 100

(Street)

LITTLE ROCK

72211

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
LODGIAN INC [ LGN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
02/12/2007

4. If Amendment, Date of Original Filed (Month/Day/Year)
02/13/2007

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock⁽¹⁾	02/12/2007		A		4,000⁽²⁾	A	$0.00	4,000	D
Common Stock⁽³⁾								2,875,900	I	Indirect⁽⁴⁾
Common Stock⁽⁵⁾								8,500	I	Indirect⁽⁵⁾

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Mr. Lieblong, along with the other non executive Lodgian board members, was granted 4,000 shares of restricted stock on February 12, 2007 as compensation for board service during 2006 and 2007. The shares will vest in three equal annual installments beginning on January 30, 2008. The shares will be governed pursuant to the Lodgian, Inc. Amended and Restated 2002 Stock Incentive Plan.

2. The number of shares granted was previously incorrectly reported as 8,000 shares. The actual grant was 4,000 shares.

3. This report is filed jointly by the following entities and individuals, which may be deemed to be direct or indirect 10% owners and members of a "group" for purposes of Section 13(d) of the Securities Exchange Act of 1934: Key Colony Fund, LP, Key Colony Management, LLC and Alex R. Lieblong. Mr. Lieblong is a director of Lodgian, Inc.

4. These shares are owned directly by Key Colony Fund, LP and indirectly by Key Colony Management, LLC, as general partner of Key Colony Fund, LP. The managing member of Key Colony Management, LLC is Alex R. Lieblong, who holds voting and dispositive power for the shares held by Key Colony Management, LLC. Each of Key Colony Management, LLC and Mr. Lieblong disclaims beneficial ownership of these shares except to the extent of its or his pecuniary interest therein.

5. These shares are owned directly by Lieblong & Associates, Inc. and indirectly by Alex R. Lieblong, as the sole shareholder of Lieblong & Associates, Inc.

Remarks:

	s/ Daniel E. Ellis, as attorney-in-fact	02/22/2007
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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