Arlington Hospitality Buyback Continues

16th Jan 2003

Arlington Hospitality, Inc. (Nasdaq/NM:
HOST) today announced that its newly appointed President and CEO, Jerry H. Herman, has purchased
40,000 shares of common stock from the Company, in accordance with the stock purchase right terms of
his employment agreement. These shares were purchased for $3.16 per share and are restricted securities
as defined in Rule 144 under the Securities Act of 1933. Mr. Herman’s employment agreement provides
for his right through March 8, 2003 to purchase up to 75,000 shares of common stock from the Company
at prices defined in the agreement. Compensation expense, if any, related to these purchases will be
reflected in the Company’s first quarter 2003 financial statements.
Jerry H. Herman, President and CEO, commented, “I am excited to participate directly in the value and
potential within Arlington Hospitality by exercising the stock purchase rights. We are committed to
building upon the Company’s expertise and track record, and to developing and executing a business plan
for the Company’s next phase. These purchases are reflective of my commitment to the future of
Arlington Hospitality.” This purchase of 40,000 shares, as well as any future purchases pursuant to Mr.
Herman’s employment agreement, will be reported to the Securities and Exchange Commission on a
Form 4 in accordance with Section 16(a) of the Securities Exchange Act of 1934.
From time to time, the Company may utilize cash to purchase its own common stock. Currently, the
Board of Directors has authorized the Company to buy back, at any time and without notice, up to
1,000,000 shares of it own common stock under certain conditions. In addition, certain members of the
Board of Directors have notified the Company that they may purchase shares of the Company’s common
stock on the open market, subject to insider trading blackouts under the Company’s policies, restrictions
resulting from the Company’s own stock purchase activities, and limitations under applicable securities
laws and regulations. Any such transactions will also be reported to the Securities and Exchange
Commission on a Form 4 in accordance with Section 16(a) of the Securities Exchange Act of 1934.
However, there can be no assurance that the Company or any of its Directors will consummate any stock
purchase transactions.
Arlington Hospitality sells existing AmeriHost Inn hotels as part of its hotel development strategy. For a
complete listing of all hotels for sale by the Company, please visit our web site at, or contact David Harjung via email at [email protected] or
by phone at (847)228-5401 ext. 347. In addition, Arlington Hospitality provides turnkey hotel
development services for new construction hotel projects, including AmeriHost Inn hotels as well as other
hotel brands. For more information regarding turnkey development services contact Paul Eskenazi via
email at [email protected] or by phone at (847)228-5401 ext. 312.
Arlington Hospitality, Inc. is a publicly traded hotel management and development company that builds,
manages and sells mid-priced hotels throughout the United States, primarily under the AmeriHost Inn
brand. Arlington Hospitality, Inc. owns or manages 72 properties in 17 states, including 62 AmeriHost
Inn hotels, and 10 other branded hotels, for a total of 5,283 rooms, with four additional AmeriHost Inn &
Suites hotels under construction. Each hotel offers an amenity package not often found in other mid-priced
hotels. For additional information on the company, please visit our web site at
The statements appearing in this press release can be construed as forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These
statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in the
forward-looking statements, including without limitation, risks relating to the development and operation of hotels, the timing,
consummation and final terms of hotel sales, the availability of capital to finance growth, and the historical cyclicality of the
lodging industry.


Recommended for you

Follow Breaking Travel News

Travel Events Calendar

Media Partnerships

Global Restaurant Investment ForumThe Hospitality & Tourism SummitCATHIC
ITB AsiaChina Outbound Travel & Tourism MarketThe Travel Marketing Store
Serviced Apartment SummitWorld Travel MarketIMEX
AHICWTTCRoutes Online
UBM Aviation