Innkeepers USA Trust Announces Annual Meeting
14 4월 2006 - 2:52AM
PR Newswire (US)
PALM BEACH, Fla., April 13 /PRNewswire-FirstCall/ -- Innkeepers USA
Trust (NYSE:KPA), a hotel real estate investment trust (REIT) and a
leading owner of upscale extended-stay hotel properties throughout
the United States, today announced that the company will hold its
annual meeting at 9 a.m. ET on Wednesday, May 3, 2006, at the
Colony Hotel, 155 Hammon Ave., Palm Beach, Fla. The record date for
determination of shareholders entitled to vote at the meeting was
March 1, 2006. Innkeepers USA Trust owns 70 hotels with a total of
8,825 suites or rooms in 20 states and Washington, D.C., and
focuses on acquiring and/or developing premium branded, upscale
extended-stay, select-service and full-service hotels and the
rebranding and repositioning of other hotel properties. For more
information about Innkeepers USA Trust, visit the company's Web
site at http://www.innkeepersusa.com/. This press release, and
other publicly available information on the company, includes
forward looking statements within the meaning of federal securities
law. These statements include terms such as "should," "may,"
"believe" and "estimate," or assumptions, estimates or forecasts
about future hotel and company performance and results, and the
company's future need for capital. Such statements should not be
relied on because they involve risks that could cause actual
results to differ materially from the company's expectations when
such statements are made. Some of these risks are set forth in
reports filed from time to time with the SEC and include, without
limitation, (i) the operational risks of the hotel business
(including decreasing hotel revenues and increasing hotel expenses)
under the company's taxable REIT subsidiary structure; (ii) risks
that war, terrorism or similar activities, widespread health
alerts, disruption in oil imports or higher oil prices or changes
in domestic or international political environments negatively
affect the travel industry and the company; (iii) risk of declines
in the performance and prospects of businesses and industries
(e.g., technology, automotive, aerospace, pharmaceuticals) that are
important hotel demand generators in the company's key markets
(e.g., the Silicon Valley, CA, Northern NJ, Washington, DC, etc.);
(iv) risk that poor, declining and/or uncertain international,
national, regional and/or local economic conditions will, among
other things, negatively affect demand for the company's hotel
rooms and the availability and terms of financing; (v) risk that
the company's ability to maintain its properties in competitive
condition becomes prohibitively expensive; (vi) risk that pricing
in the hotel acquisition market becomes prohibitively expensive or
non-financeable and that potential acquisitions or developments do
not perform in accordance with expectations; (vii) risk that the
company may invest in hotels of a size or nature (e.g., upscale
full service or resort) different than those it has focused on
historically (e.g., upscale extended-stay, and mid-scale limited
service); (viii) risks related to an increasing focus on
development, including permitting risks, increasing the proportion
of company assets not producing revenue at a given time and risks
that projects cost more, take longer to complete or do not perform
as anticipated; (ix) changes in travel patterns or the prevailing
means of commerce (i.e., e-commerce) may reduce demand for hotels
in general or the company's hotels in particular; (x) the complex
tax rules that the company must satisfy to qualify as a REIT and
the potentially severe consequences of failing to satisfy such
requirements; and (xi) governmental regulation that may increase
the company's cost of doing business or otherwise negatively effect
its business or its attractiveness as an investment and create risk
of liability for non-compliance (e.g., changes in laws affecting
wages, taxes or dividends, compliance with building codes,
compliance with the Americans with Disabilities Act, workers
compensation law changes, the Sarbanes-Oxley law, etc.). The
company undertakes no obligation to update any forward-looking
statement to reflect actual results, changes in the company's
expectation, or for any other reason. Contact: Dennis Craven
(Company) Jerry Daly or Carol McCune Chief Financial Officer Daly
Gray (Media) (561) 227-1302 (703) 435-6293 DATASOURCE: Innkeepers
USA Trust CONTACT: Dennis Craven, Chief Financial Officer of
Innkeepers USA Trust, +1-561-227-1302; or Media: Jerry Daly or
Carol McCune of Daly Gray, +1-703-435-6293, for Innkeepers USA
Trust Web site: http://www.innkeepersusa.com/
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