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Innkeepers USA Trust
Ticker Symbol: KPA* CUSIP: 4576J0104 Exchange: NYSE
* NOTE: This security is no longer trading as of 6/29/2007
Company's Online Profile
BUSINESS: Innkeepers USA Trust is a hotel real estate investment trust and the nation's leading REIT owner of upscale, extended-stay hotel properties throughout the U.S. The company owns 67 hotels with a total of 8,131 suites or rooms in 23 states and focuses on acquiring and/or developing Residence Inns and other upscale extended-stay hotels in markets with high barriers to entry and the rebranding and repositioning of other hotel properties.
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Notes: June 29, 2007 -- Innkeepers USA Trust ("Innkeepers") (NYSE: KPA), a hotel real estate investment trust (REIT) and Apollo Investment Corporation ("AIC") (Nasdaq: AINV) today announced the closing of the previously announced acquisition of Innkeepers by Grand Prix Holdings LLC, an affiliate of AIC ("Grand Prix"). The Agreement and Plan of Merger was approved at a special meeting of the common shareholders on June 26, 2007. Under the terms of the agreement, Grand Prix will acquire Innkeepers for $17.75 per common share in cash, plus the assumption of Innkeepers' indebtedness. ____________ April 16, 2007 -- Innkeepers USA Trust, a hotel real estate investment trust (REIT) and a leading owner of upscale extended-stay hotel properties throughout the United States, including Residence Inns, Summerfield Suites and Hampton Inns, today announced that it has entered into a definitive agreement to be acquired by an affiliate of Apollo Investment Corporation for $17.75 per share in cash, plus the assumption of Innkeepers indebtedness. Innkeepers will pay its first quarter common share dividend on April 24, 2007 and has agreed to suspend any further common share dividends.
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Small Cap Stock -
Market Value $341.0 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Address and Phone Numbers |
| Address: 340 Royal Poinciana Way, Suite 306, Palm Beach, FL 33480 |
| Main Phone Number |
561-835-1800 |
| Fax Number |
561-835-0457 |
| Investor Contact (CFO)
Dennis Craven
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561-227-1302
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