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Hudson Hotels Corporation (HUDS) [hlAlert]

Hudson Hotels Corporation managed 46 hotel properties located primarily in the Northeast and Southeast United States as of December 31, 2001. Of the 46 hotel properties under management, the Company owns 25. These properties range from super budget "Microtel Inns" to full-service hotels. The Company has
a minority equity position, either as a general or a limited partner, in nine entities that own hotel properties. In addition, it is a general partner in Watertown Hotel Properties II, L.P., an entity that previously owned a hotel property and holds a mortgage upon the property, representing a portion of the sale price of this property, and in Microtel Partners-1995, L.P., which owns a parcel of land in Tonawanda, New York. In January 2003, the Company filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code.
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