Portfolio: Hudson Hotels Corporation

Listen to this article

PORTFOLIO
A weekly report compiled from the proxy statement and annual report of a publicly held company with local headquarters or a company with a major division in the area.

Over the Counter-HUDS
Based in Rochester, Hudson Hotels Corp. develops, builds and manages various hotel products, including Microtels. Formerly called Microtel Franchise and Development Corp., the company signed an agreement in October 1995 with U.S. Franchise Systems Inc., which purchased worldwide franchising and administration for the Microtel franchise chain. The company subsequently changed its name to Hudson Hotels.
As of Dec. 31, 1995, Hudson Hotels managed 16 hotel properties located primarily in the northeast and southeast United States. Those properties ranged from the budget-priced Microtels to luxury hotels. The company also had a minority equity position as either a general or limited partner in 12 entities that own hotel properties.
The company recently changed its fiscal year end to Dec. 31; therefore, the following comparisons are for the nine-month transition period ended Dec. 31, 1995, and the fiscal year ended March 31, 1995. Transition-period revenues were $6.9 million, compared with $7.3 million for the previous fiscal year ending March 31. Net income was $1.3 million, compared with $1.1 million for the previous fiscal year. Net earnings per share were 33 cents, compared with 28 cents for the previous fiscal year.
The company’s fiscal year ended Dec. 31.

Common shares outstanding (as of March 29) 3,232,258
Price each share of common stock on Dec. 30 $5.50
Total market value on Dec. 30 $17,777,419.00
Controlled by all directors and officers as a group. 1,801,626(1)
(43.31 percent)
1Includes shares that were available by exercising stock options and shares over which voting and investment power is shared.

Performance Record
(Dollars in thousands except per-share data)
Period ending
Dec. 31, 1995 1995 1994 1993 1992
Total revenue $6,896 $7,294 $5,406 $3,944 $103
Net income
(loss) 1,311 1,064 (1,472) (567) (661)
Net income per
share
(loss) 0.33 0.28 (0.46) (0.18) (0.32)
Total assets 15,781 14,680 12,433 12,644 774
Debt 8,506 8,546 7,053 5,517 0

Directors Number of common shares1
Margaret Adams, 46, vice president,
franchise administration 20,534
Christopher Burns, 39, vice president,
development 19,800
Michael Cahill, 34, president, Hospitality
Real Estate Counselors Inc. 177,375
Robert Fagenson, 47, president, Fagenson &
Co. Inc. 57,000
Taras Kolcio, 31, controller 6,667
Alan Lockwood, 43, secretary 8,717
Ralph Peek, 47, general partner and
controller, Wilson Enterprises 440,062
Dawn Richenberg, 38, vice president, hotel
operations 22,667
Bruce Sahs, 52, executive vice president,
chief operating officer,
chief financial officer and treasurer 108,333
Anthony Wilson, 51, chairman, president and
CEO 940,471

Executive Compensation
Officer 1995 cash compensation(2)
Anthony Wilson, chairman, president and
CEO $124,062
(2)Includes salary, bonus and all other compensation.
Company Trends

Researched by Bill Myers