-----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, W2SQ3B7zKH03lZZWYUoE9/VmIo0NFNSfiWPnkH3e9zTSaqnfROdc7fbwdVgDWIFt cEDJ2Dugv4Vl6X+//kbzKQ== 0000950134-04-008713.txt : 20040614 0000950134-04-008713.hdr.sgml : 20040611 20040614060819 ACCESSION NUMBER: 0000950134-04-008713 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20040608 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20040614 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ARLINGTON HOSPITALITY INC CENTRAL INDEX KEY: 0000778423 STANDARD INDUSTRIAL CLASSIFICATION: HOTELS & MOTELS [7011] IRS NUMBER: 363312434 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-15291 FILM NUMBER: 04859488 BUSINESS ADDRESS: STREET 1: 2355 SOUTH ARLINGTON HEIGHTS ROAD STREET 2: SUITE 400 CITY: ARLINGTON HEIGHTS STATE: IL ZIP: 60005 BUSINESS PHONE: 8472285400 MAIL ADDRESS: STREET 1: 2355 SOUTH ARLINGTON HEIGHTS ROAD STREET 2: SUITE 400 CITY: ARLINGTON HEIGHTS STATE: IL ZIP: 60005 FORMER COMPANY: FORMER CONFORMED NAME: AMERIHOST PROPERTIES INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: AMERICA POP INC DATE OF NAME CHANGE: 19871111 8-K 1 c86124e8vk.txt CURRENT REPORT SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) June 8, 2004 Arlington Hospitality, Inc. - -------------------------------------------------------------------------------- (Exact Name of Registrant as Specified in Its Charter) Delaware - -------------------------------------------------------------------------------- (State or Other Jurisdiction of Incorporation) 0-15291 36-3312434 - --------------------------------------- ---------------------------------------- (Commission File Number) (IRS Employer Identification Number) 2355 South Arlington Heights Road, Suite 400, Arlington Heights, Illinois 60005 - ----------------------------------------------- -------------------------------- (Address of principal executive offices) (Zip Code) Registrant's Telephone Number, Including Area Code (847) 228-5400 N/A - -------------------------------------------------------------------------------- (Former Name or Former Address, if Changed Since Last Report) ITEM 5. OTHER EVENTS AND REGULATION FD DISCLOSURE. On June 8, 2004, Arlington Hospitality, Inc. (the "Company") issued a press release announcing the extension of its temporary agreement with the landlord of 21 of its hotel properties. A copy of the Company's press release is attached to this current report on Form 8-K as Exhibit 99.1. On June 11, 2004, Arlington Hospitality, Inc. (the "Company") issued a press release announcing May 2004 results and the sale of three hotels. A copy of the Company's press release is attached to this current report on Form 8-K as Exhibit 99.2. ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS. (C) EXHIBITS 99.1 Press Release of Arlington Hospitality, Inc., dated June 8, 2004, Announcing Extension of Temporary Agreement with Landlord. 99.2 Press Release of Arlington Hospitality, Inc., dated June 11, 2004, Announcing May 2004 Results and the Sale of Three Hotels. 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. DATE: June 11, 2004 Arlington Hospitality, Inc. (Registrant) By: /s/ Jerry H. Herman --------------------------------- Jerry H. Herman Chief Executive Officer By: /s/ James B. Dale --------------------------------- James B. Dale Senior Vice President and Chief Financial Officer EX-99.1 2 c86124exv99w1.txt PRESS RELEASE EXHIBIT 99.1 [AH LOGO] ARLINGTON HOSPITALITY, INC. 2355 South Arlington Heights Road - Suite 400 - Arlington Heights, IL 60005 847-228-5400 Fax: 847-228-5409 www.arlingtonhospitality.com For Immediate Release CONTACT: MEDIA CONTACT: James B. Dale, Chief Financial Officer Jerry Daly or Carol McCune 847-228-5401 x 361 703-435-6293 jimdale@arlingtonhospitality.com jerry@dalygray.com ARLINGTON HOSPITALITY, INC. ANNOUNCES EXTENSION OF TEMPORARY LETTER AGREEMENT ARLINGTON HEIGHTS, Ill., June 8, 2004--Arlington Hospitality, Inc. (Nasdaq/NM: HOST), a hotel development and management company, today announced an extension of its temporary letter agreement with PMC Commercial Trust ("PMC") (AMEX: PCC), the landlord of 21 AmeriHost Inn hotels operated by the company. In addition, the company continues to pursue a permanent restructuring of these leases. The terms of a temporary letter agreement between the company and PMC deferred approximately $264,000 in base rent for the months of March, April and May 2004, and allowed the company to utilize $200,000 of its security deposit to partially fund the rent payments. The repayment of the deferred rent and the security deposit was to begin on June 1, 2004. The company and PMC agreed that these terms would be extended through June 30, 2004, including the additional deferral of approximately $85,000 in base rent for the month of June, and that the repayments to PMC will begin July 1, 2004 over a four-month period in equal monthly installments. - more - Arlington Hospitality Page 2 The company has been working closely with PMC in negotiating the terms of a master lease restructuring, and anticipates documenting the contemplated restructuring with PMC in a written agreement prior to the expiration of the temporary letter agreement, as revised. However, there can be no assurances that the leases will be restructured on terms and conditions acceptable to the company and its subsidiary, if at all, or that a restructuring will improve operations and cash flow, or provide for the sale of the hotels to third-party operators. ABOUT ARLINGTON HOSPITALITY Arlington Hospitality, Inc. is a hotel development and management company that builds, operates and sells mid-market hotels. Arlington is the nation's largest owner and franchisee of AmeriHost Inn hotels, a 104-property mid-market, limited-service hotel brand owned and presently franchised in 22 states and Canada by Cendant Corporation (NYSE: CD). Currently, Arlington Hospitality, Inc. owns or manages 61 properties in 15 states, including 54 AmeriHost Inn hotels, for a total of 4,468 rooms, with additional AmeriHost Inn & Suites hotels under development. This press release may contain forward-looking statements. Forward-looking statements are statements that are not historical, including statements regarding management's intentions, beliefs, expectations, representations, plans or predictions of the future, and are typically identified by words such as "believe," "expect," "anticipate," "intend," "estimate," "may," "will," "should," and "could." There are numerous risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements. For a discussion of these factors, see the Company's report on Form 10-K for the year ended December 31, 2003and report on Form 10-Q for the three months ended March 31, 2004 under the section headed "Management's Discussion and Analysis of Financial Condition and Results of Operations - Risk Factors." - 30 - EX-99.2 3 c86124exv99w2.txt PRESS RELEASE EXHIBIT 99.2 [AH LOGO] ARLINGTON HOSPITALITY, INC. 2355 South Arlington Heights Road - Suite 400 - Arlington Heights, IL 60005 847-228-5400 Fax: 847-228-5409 www.arlingtonhospitality.com For Immediate Release CONTACT: MEDIA CONTACT: James B. Dale, Chief Financial Officer Jerry Daly or Carol McCune 847-228-5401 x 361 703-435-6293 jimdale@arlingtonhospitality.com jerry@dalygray.com ARLINGTON HOSPITALITY, INC. ANNOUNCES MAY 2004 RESULTS; SALE OF THREE HOTELS ARLINGTON HEIGHTS, Ill., June 11, 2004--Arlington Hospitality, Inc. (Nasdaq/NM: HOST), a hotel development and management company, today announced May 2004 same-room operating results for the AmeriHost Inn hotels in which the company has an ownership interest, and the sale of two AmeriHost Inn hotels and one non-AmeriHost Inn hotel. MAY RESULTS Same-room revenue per available room (RevPAR) in May 2004 increased 3.6 percent to $34.49, compared to May 2003. Occupancy increased 4.0 percent to 60.0 percent, while average daily rate (ADR) decreased 0.5 percent to $57.45. The May 2004 same-room results include 54 AmeriHost Inn hotels, which have been opened for at least 13 months.
One Month Two Months Five Months Twelve Months Ended Ended Ended Ended May 31 May 31 May 31 May 31 ------------- ------------ ------------- ------------- Occupancy - 2004 60.0% 59.6% 52.9% 56.6% Occupancy - 2003 57.7% 56.9% 52.2% 56.4% Increase (decrease) 4.0% 4.7% 1.3% 0.4% Average Daily Rate - 2004 $ 57.45 $ 56.82 $ 56.15 $ 57.28 Average Daily Rate - 2003 $ 57.71 $ 56.54 $ 55.39 $ 56.99 Increase (decrease) (0.5%) 0.5% 1.4% 0.5% RevPAR - 2004 $ 34.49 $ 33.84 $ 29.72 $ 32.41 RevPAR - 2003 $ 33.29 $ 32.19 $ 28.90 $ 32.13 Increase (decrease) 3.6% 5.1% 3.6% 1.1%
- more - Arlington Hospitality Page 2 According to Smith Travel Research, preliminary results for May 2004 indicate that RevPAR for the midscale without food and beverage segment of the lodging industry improved between 2 percent and 4 percent, compared to May 2003. SALES/DEVELOPMENT ACTIVITY The company sold one wholly owned AmeriHost Inn hotel in May 2004, and another wholly owned AmeriHost Inn hotel thus far in June 2004. Also in June, the company facilitated the sale of one unconsolidated, non-AmeriHost Inn hotel owned by a joint venture in which the company is a partner, bringing to three the total number of hotels sold in the 2004 second quarter. The revenue and profit/loss from the sale of hotels, as well as the reduction of debt, will be reported in the company's financial statements during the quarter in which the sale transactions close. Year to date, including these sales, the company has sold four wholly owned AmeriHost Inn hotels and facilitated the sale of one non-AmeriHost Inn hotel owned by a joint venture. The company currently has seven hotels under contract for sale, which are expected to be consummated within the next six months. When the company has hotels under contract for sale, even with nonrefundable cash deposits in certain cases, certain conditions to closing remain, and there can be no assurance that these sales will be consummated as anticipated. The sales and development activities set forth above, do not represent guidance on, or forecasts of, the results of the company's entire consolidated operations, which are reported on a quarterly basis. - more - Arlington Hospitality Page 3 For more information regarding Arlington's hotels for sale and development opportunities either on a joint venture or turnkey basis, contact Stephen Miller, Senior Vice President - Real Estate and Business Development via email at stevem@arlingtonhospitality.com, or by telephone at (847) 228-5401, ext. 312. ABOUT ARLINGTON HOSPITALITY Arlington Hospitality, Inc. is a hotel development and management company that builds, operates and sells mid-market hotels. Arlington is the nation's largest owner and franchisee of AmeriHost Inn hotels, a 106-property mid-market, limited-service hotel brand owned and presently franchised in 20 states and Canada by Cendant Corporation (NYSE: CD). Currently, Arlington Hospitality, Inc. owns or manages 60 properties in 14 states, including 54 AmeriHost Inn hotels, for a total of 4,344 rooms, with additional AmeriHost Inn & Suites hotels under development. This press release may contain forward-looking statements. Forward-looking statements are statements that are not historical, including statements regarding management's intentions, beliefs, expectations, representations, plans or predictions of the future, and are typically identified by words such as "believe," "expect," "anticipate," "intend," "estimate," "may," "will," "should," and "could." There are numerous risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements. For a discussion of these factors, see the Company's report on Form 10-K for the year ended December 31, 2003 and report on Form 10-Q for the three months ended March 31, 2004 under the section headed "Management's Discussion and Analysis of Financial Condition and Results of Operations - Risk Factors." - 30 - -----END PRIVACY-ENHANCED MESSAGE-----