Innkeepers USA Trust Announces Date of Shareholder Meeting
May 14 2007 - 4:47PM
PR Newswire (US)
PALM BEACH, Fla., May 14 /PRNewswire-FirstCall/ -- Innkeepers USA
Trust ("Innkeepers") (NYSE:KPA) announced today that Innkeepers
will hold a special meeting of its common shareholders at 9:00 a.m.
on June 26, 2007 with respect to Innkeepers' previously announced
agreement to be acquired by Grand Prix Holdings LLC, an affiliate
of Apollo Investment Corporation. Innkeepers' common shareholders
of record at the close of business on May 24, 2007 will be entitled
to vote at the shareholders meeting. ABOUT INNKEEPERS USA TRUST
Innkeepers USA Trust owns 74 hotels with a total of 9,808 rooms or
suites and one 355-room hotel in which it owns a 49 percent equity
interest in 21 states and Washington, D.C., and focuses on
acquiring or developing premium-branded upscale extended-stay and
select-service hotels, the core of the company's portfolio;
selected full-service hotels; and turn-around opportunities for
hotels that operate under or can be converted to the industry's
leading brands. For more information about Innkeepers USA Trust,
visit the company's web site at http://www.innkeepersusa.com/.
Additional Information about the Merger and Where to Find It In
connection with the proposed merger, Innkeepers has filed a
preliminary proxy statement with the Securities and Exchange
Commission ("SEC") . INVESTORS AND SECURITY HOLDERS OF THE COMPANY
ARE URGED TO READ THE PRELIMINARY PROXY STATEMENT AND ANY OTHER
RELEVANT DOCUMENTS FILED WITH THE SEC, INCLUDING THE DEFINITIVE
PROXY STATEMENT WHEN IT BECOMES AVAILABLE, BECAUSE THEY CONTAIN
IMPORTANT INFORMATION ABOUT THE COMPANY, GRAND PRIX HOLDINGS LLC
AND THE PROPOSED MERGER. Investors can obtain the preliminary proxy
statement and all other relevant documents filed by the company
with the SEC free of charge at the SEC's web site at
http://www.sec.gov/. In addition, investors and security holders
may obtain free copies of the documents filed with the SEC by the
company by contacting the company or accessing the company's
website. Investors and security holders are urged to read the
preliminary proxy statement and the other relevant materials when
they become available, including the definitive proxy statement,
before making any voting or investment decision with respect to the
proposed merger. Forward-Looking Statements This press release
contains "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. All statements other than statements of
historical facts included in this press release are forward-looking
statements. All forward-looking statements speak only as of the
date of this press release. Such forward-looking statements involve
known and unknown risks, uncertainties and other factors that may
cause the actual results, performance, achievements or transactions
of Innkeepers and its affiliates or industry results or the
benefits of the proposed transaction to be materially different
from any future results, performance, achievements or transactions
expressed or implied by such forward-looking statements. Such
risks, uncertainties and other factors relate to delays in the
holding of the shareholder meeting. Additional information or
factors which could impact the company and the forward-looking
statements contained herein are included in Innkeepers' filings
with the Securities and Exchange Commission. Innkeepers assumes no
obligation to update or supplement forward-looking statements that
become untrue because of subsequent events. Participants in the
Solicitation Innkeepers and its directors, executive officers and
other members of its management and employees may be deemed
participants in the solicitation of proxies from its shareholders
in connection with the proposed merger. Information concerning the
interests of Innkeepers' participants in the solicitation, which
may be different than those of Innkeepers' shareholders generally,
is set forth in Innkeepers' proxy statements and Annual Reports on
Form 10-K, previously filed with the SEC, and in the definitive
proxy statement relating to the transaction when it becomes
available. Contact: Innkeepers USA Trust Dennis Craven,
561-227-1302 Chief Financial Officer or Mark Murphy, 561-227-1336
General Counsel and Secretary or Jerry Daly or Carol McCune Daly
Gray 703-435-6293 DATASOURCE: Innkeepers USA Trust CONTACT: Dennis
Craven, Chief Financial Officer, +1-561-227-1302, or Mark Murphy,
General Counsel and Secretary, +1-561-227-1336, both for Innkeepers
USA Trust, or Jerry Daly or Carol McCune of Daly Gray,
+1-703-435-6293 Web site: http://www.innkeepersusa.com/
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