-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, N5RnFPOLA01DofegS5pTz4LhbV9j5A9i6FXTggx4MpjJlycmT6eJTJPyQEZsvbYY Whlgms6YzMsvKxBLCFgkhw== 0000950169-97-000522.txt : 19970605 0000950169-97-000522.hdr.sgml : 19970605 ACCESSION NUMBER: 0000950169-97-000522 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19970602 ITEM INFORMATION: Acquisition or disposition of assets ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19970604 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: HUMPHREY HOSPITALITY TRUST INC CENTRAL INDEX KEY: 0000929545 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 521889548 STATE OF INCORPORATION: VA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-25060 FILM NUMBER: 97619168 BUSINESS ADDRESS: STREET 1: 12301 OLD COLUMBIA PIKE CITY: SILVER SPRING STATE: MD ZIP: 20904 BUSINESS PHONE: 3016804343 MAIL ADDRESS: STREET 1: 12301 OLD COLUMBIA PIKE CITY: SILVE SPRING STATE: MD ZIP: 20904 8-K 1 HUMPHREY TRUST CORPORATION UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report: June 2, 1997 HUMPHREY HOSPITALITY TRUST, INC. (Exact name of registrant as specified in its charter) Virginia 52-1889548 (State of Incorporation) (I.R.S. employer identification no.) 12301 Old Columbia Pike, Silver Spring MD 20904 (301) 680-4343 (Address of principal executive offices) (Registrant's telephone number) N/A (Former Name or Former Address, if Changed Since Last Report) Item 2. Acquisitions or Disposition of Assets On May 22, 1997, Humphrey Hospitality Trust, Inc., through its partnership, Humphrey Hospitality L.P. (the "Partnership") completed the acquisition of a 81-room Comfort Inn hotel in Gettysburg, Pennsylvania from 344 Associates. On May 22, 1997, the Partnership completed the acquisition of a 51-room Holiday Inn Express hotel in Gettysburg, Pennsylvania from 144 Associates. On May 29, 1997, the Partnership completed the acquisition of a 65-room Comfort Inn hotel in Chambersburg, Pennsylvania from 544 Associates. The purchase price for the hotels were as follows: Comfort Inn - Gettysburg, PA $4,325,000 Holiday Inn Express - Gettysburg, PA $2,725,000 Comfort Inn - Chambersburg, PA $2,600,000 The purchase price was paid through the use of borrowings from the Partnership's credit facility. The properties are to be leased by the Partnership to Humphrey Hospitality Management, Inc., the lessor of the Partnership's other hotel properties, pursuant to percentage leases which provide for rent based, in part, on the room revenues from the hotels. The lease for the Comfort Inn and Holiday Inn Express hotels located in Gettysburg, Pennsylvania went into effect on May 22, 1997, the lease for the Comfort Inn hotel located in Chambersburg, Pennsylvania went into effect May 29, 1997. The following table sets forth (i) the annual Base Rent, and (ii) the annual Percentage Rent formula: Acquired Hotel Base Rent Percentage Rent Formula Comfort Inn $302,750 14.5% of quarterly room revenues up to Gettysburg, PA room revenues of $1,400,000 per annum, plus 9.5% of semi-annual room revenues up to $1,400,000 of room revenues per annum, plus 35% of room revenues in excess of $1,400,000 of room revenues per annum, plus 8% of monthly other revenues. Holiday Inn Express $190,750 14.5% of quarterly room revenues up to Gettysburg, PA room revenues of $940,000 per annum, plus 9% of semi-annual room revenues up to $940,000 of room revenues per annum, plus 35% of room revenues in excess of $940,000 of room revenues per annum, plus 8% of monthly other revenues. Comfort Inn $183,750 14.2% of quarterly room revenues up to Chambersburg, PA room revenues of $960,000 per annum, plus 8.5% of semi-annual room revenues up to $960,000 of room revenues per annum, plus 35% of room revenues in excess of $960,000 of room revenues per annum, plus 8% of monthly other revenues. Item 7. Financial Statements. Pro Forma Financial Information and Exhibits As of the date of this report, historical audited financial information is not available. Audited financial information will be provided for the above acquisitions, which meet the "significant amount of assets" test under Item 2 of Form 8-K or Rule 3-05 of Regulation S-X for the periods specified under Rule 3-05 of Regulation S-X, within sixty days of this report. SIGNATURES Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused the report to be signed on its behalf by the undersigned thereunto duly authorized. Humphrey Hospitality Trust, Inc. -------------------------------- Date:____________________________ By: __________________________ James I. Humphrey Jr. Chairman and President -----END PRIVACY-ENHANCED MESSAGE-----