SHOLODGE, INC.

-----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, IEBGj7Tay0aRzD5pivy/DFQvnQ8JG4NrUBdx9wn4ighIaaN10Ph6y0iCbSEKawhK aMyzfi0H/w67+CBFBeuSGg== 0000950144-04-005978.txt : 20040602 0000950144-04-005978.hdr.sgml : 20040602 20040602161818 ACCESSION NUMBER: 0000950144-04-005978 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040602 ITEM INFORMATION: ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20040602 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SHOLODGE INC CENTRAL INDEX KEY: 0000881924 STANDARD INDUSTRIAL CLASSIFICATION: HOTELS & MOTELS [7011] IRS NUMBER: 621015641 STATE OF INCORPORATION: TN FISCAL YEAR END: 1227 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-19840 FILM NUMBER: 04844702 BUSINESS ADDRESS: STREET 1: 130 MAPLE DR N CITY: HENDERSONVILLE STATE: TN ZIP: 37075 BUSINESS PHONE: 6152648000 MAIL ADDRESS: STREET 1: 130 MAPLE DRIVE NORTH CITY: HENDERSONVILLE STATE: TN ZIP: 37075 8-K 1 g89485e8vk.htm SHOLODGE, INC. SHOLODGE, INC.

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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: June 2, 2004

ShoLodge, Inc.

(Exact name of registrant as specified in its charter)

Tennessee
(State or other jurisdiction of
incorporation or organization)


0-19840 (Commission File Number)		62-1015641 (I.R.S. Employer Identification Number)

130 Maple Drive North
Hendersonville, TN
(Address of principal executive offices)

37075
(Zip Code)

615-264-8000
(Registrant’s telephone number)

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Signatures
EX-99.1 PRESS RELEASE

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ITEM 7–FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.

(c) Exhibits:

99.1 Press Release dated June 2, 2004*

* Filed herewith

ITEM 12 – RESULTS OF OPERATIONS AND FINANCIAL CONDITION

On June 2, 2004, the Company issued a press release announcing financial results for the first fiscal quarter ended April 18, 2004, a copy of which is attached hereto as Exhibit 99.1.

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Signatures

Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.


						SHOLODGE, INC.

Date: June 2, 2004		By:		/s/		Bob Marlowe Bob Marlowe Secretary-Treasurer Chief Accounting Officer

EX-99.1 2 g89485exv99w1.txt EX-99.1 PRESS RELEASE Exhibit 99.1 (SHOLODGE, INC. LOGO) Contact: Bob Marlowe Chief Financial Officer (615) 264-8000 SHOLODGE ANNOUNCES FIRST QUARTER 2004 RESULTS HENDERSONVILLE, Tenn. (June 2, 2004) - ShoLodge, Inc. (Nasdaq:LODG) today announced results for its first quarter ended April 18, 2004. The Company reported a loss from continuing operations of $1.3 million, or $0.26 per share, compared with earnings of $2.0 million, or $0.39 per share, in the first quarter of 2003. The net loss after discontinued operations was $1.1 million, or $0.22 per share, in the first quarter of this year, compared with net earnings of $459,000, or $0.09 per share, in the first quarter of 2003. Total operating revenues for the first quarter of 2004 were $11.5 million compared with $6.2 million in the first quarter a year ago. For the first quarter of 2004, total revenues from hotel operations were $1.4 million compared with $787,000 in the first quarter of 2003. Revenue per available room (RevPAR) for the three hotels included in continuing operations was $33.58 in the first quarter of 2004 compared with $28.55 in the first quarter of last year. The three hotels include two AmeriSuites hotels and one GuestHouse Inn. The Company transferred five hotels in the fourth quarter of 2002, eight hotels were sold in 2002 and 2003, and three hotels are currently held for sale. The effects of these sixteen hotels are reflected in discontinued operations. The first quarter of 2003 included $5.3 million in lease abandonment income, $595,000 of gains on the sale of properties, and $283,000 of gains from the early extinguishments of debt. Without these contributions to earnings, the first quarter of 2003 would have reflected a loss from continuing operations of $4.2 million compared with the loss from continuing operations of $1.3 million in the first quarter of this year. The first quarter of last year also included a loss from the disposal of properties, included in discontinued operations. Without these four non-recurring items, the first quarter of 2003 would have reflected a net loss of $4.0 million compared with the net loss of $1.1 million in the first quarter of this year. Leon Moore, chief executive officer of ShoLodge, said, "Since the acquisition of the exclusive franchising rights for the GuestHouse Inns & Suites hotel brand two years ago, we have been converting both Company-owned and franchised Shoney's Inns & Suites to the GuestHouse brand. As a result, we now have more hotels with the same brand name, giving us a stronger presence in the marketplace and SHOLODGE, INC. 130 Maple Drive North Hendersonville, Tennessee 37075 Phone (615) 264-8000 Fax (615) 264-3497 Page 2 June 2, 2004 allowing more effective use of advertising dollars. We believe the GuestHouse name suggests warm hospitality and is being well received. We also continue to increase the number of hotels and resort properties served by InnLink, our proprietary reservation center. As of the end of the first quarter of 2004, InnLink served a total of 941 lodging facilities as compared with 685 lodging facilities a year earlier. In addition to the Company's increased franchising efforts and continued expansion of our reservation services, we intend to continue to utilize our construction and development expertise as opportunities arise." This press release contains forward-looking statements relating to certain matters, which reflect management's best judgment, based on factors currently known and involve risks and uncertainties. Actual results could differ materially from the anticipated results or expectations expressed in the Company's forward-looking statements. Forward-looking information provided by the Company pursuant to the safe harbor established under the Private Securities Litigation Reform Act of 1995 should be evaluated in the context of these factors which are contained in the Company's Securities and Exchange Commission (SEC) filings, including its periodic reports filed under the Securities Exchange Act of 1934, as amended. Copies of these filings are available upon request from the Company. In addition, the Company disclaims any intent or obligation to update these forward-looking statements. SHOLODGE, INC. UNAUDITED FINANCIAL HIGHLIGHTS (In thousands, except per share amounts)

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