Bristol Hotel Company Announces Plans For Expansion in Chicago Market.DALLAS--(BUSINESS WIRE)--Nov. 14, 1996--Today, Bristol Hotel Company announced its intention to expand its hotel operations into the Chicago market. The company has entered into a contract to purchase a hotel in Chicago having approximately 400 rooms. The acquisition, which is subject to normal due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. and approvals, would establish an initial base for further company expansion in the Chicago area. Bristol Hotel Company was formed in February 1995 through the combination of the Harvey Hotel Company with the assets of United Inns, Inc. Pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma results for the third quarter of 1995 reflect the combination and subsequent initial public offering, debt financing Debt Financing When a firm raises money for working capital or capital expenditures by selling bonds, bills, or notes to individual and/or institutional investors. In return for lending the money, the individuals or institutions become creditors and receive a promise to repay and related transactions as if they occurred at the beginning of 1995. The company is a leading owner/operator of hotels in the southern United States The Southern United States—commonly referred to as the American South, Dixie, or simply the South—constitutes a large distinctive region in the southeastern and south-central United States. , with 39 hotels (37 of which are owned by the company) containing approximately 10,200 rooms. The company's shares are listed on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. (trading symbol BH) following its initial public offering in December, 1995. CONTACT: Bristol Hotel Company, Dallas Jeffrey P. Mayer, 972/687-0226 |
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