Rural Gold Concept Is Sweeping The Georgia Countryside - Buckhead America Signs Agreement For The Development Of Four Country Hearth Inns In Georgia
(Atlanta, Ga - September 15, 2000) Buckhead America, the Atlanta based hospitality services corporation announced the recent signing of an agreement for the development of four Country Hearth Inns in Georgia. The new properties now under development will open in mid 2001 and are located in Bainbridge, Cairo, Sylvester and Jesup, Georgia. These properties are pursuant to the previously announced Cassland Corporation master license agreement...
"We are very excited to be working with one of the most aggressive development company's in the industry and look forward to expanding the Rural Gold concept in the Southeast. These prototype hotels focus on the needs of rural markets, break even at a 50% occupancy rate and can be developed for as little as $35,000 a room. A very attractive package for potential franchise owners, states Douglas C. Collins president and CEO of Buckhead America.
"The Rural Gold concept offers us, as a development company, architecture with integrity, the ability to build an affordable mid-price hotel using a design that caters to the down home comforts of a bed and breakfast inn." states Azim Kassm, president of Cassland Corporation.
Buckhead America a diversified hospitality services company whose holdings include the 55 hotels under the Country Hearth Inn lodging system, The Lodge Keeper Group, a hotel management company and 33 additional hotels owned, leased and/or managed.
Buckhead America is a public company with common shares traded on the NASDAQ, National Market System under the symbol BUCK.
Certain statements contained in this release are forward-looking statements as defined under the Private Securities Litigation Reform Act of 1995 based on current expectation. The accuracy of such statements is subject to a number of risks, uncertainties and assumption including, but not limited to, the effect of general economic conditions on real estate investments, hotel development, franchising and other factors listed Buckhead America Corporation's Securities and Exchange Commission filings. To include its form 10-KSB for the year ended December 31, 1999 and in the RISK FACTOR section of its Registration Statement on form S-3.