| Ticker: IHC | Foster Plaza 10, 680 Andersen Drive | |
| Exchange: New York Stock Exchange | Pittsburgh, Pennsylvania 15220 | |
| Industry: Service | (412) 937-0600 |
| Type of Shares: | Common Shares | Filing Date: | 4/24/96 | |
| U.S. Shares: | 9,350,000 | Offer Date: | 6/19/96 | |
| Non-U.S. Shares: | 1,650,000 | Filing Range: | $19.00 - $21.00 | |
| Primary Shares: | 11,000,000 | Offer Price: | $21.00 | |
| Secondary Shares: | 0 | Gross Spread: | $1.26 | |
| Offering Amount: | $220,000,000 | Selling: | $0.75 | |
| Expenses: | $1,950,000 | Reallowance: | $0.10 | |
| Shares Out After: | 27,220,000 |
| Manager | Tier | Phone |
| Merrill Lynch & Co. | Lead Manager | (212) 449-4600 |
| Credit Lyonnais Securities (USA) Inc. | Co-manager | |
| Montgomery Securities | Co-manager | 4156272220 |
| Morgan Stanley & Co. Incorporated | Co-manager | (212) 703-4797 |
| Smith Barney Inc. | Co-manager | (718) 921-8473 |
| Auditor: Coopers & Lybrand | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 3/31/96 | 3/31/95 | 3/31/96 | ||
| Revenue: | $45.02 | $12.30 | $10.25 | Assets: | $70.03 |
| Net Income: | $15.82 | $4.24 | $3.35 | Liabilities: | $86.77 |
| EPS: | $0.47 | $0.16 | Equity: | -$16.74 | |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company is the largest hotel management company in the United States, managing or performing services for 154 hotels. In 1995, 84.1% of the Company's net management revenues were derived from upscale or luxury hotels and resorts. The Company is the largest franchisee of upscale hotels in the Marriott (R) system, providing services to 36 hotels, with 12,649 rooms, bearing the Marriott (R) flag. Consistent with the Company's multiple branding strategy, the Company also manages hotels under many other major full-service brand names, including Doubletree (R), Embassy Suites (R), Hilton (R), Radisson (R), Sheraton (R), and Westin (R), as well as under the Company's own Colony (R) trade name. The Company also manages mid-priced, economy and budget segments of the lodging industry. |
| Use of Proceeds |
| The proceeds from the offering will be used to finance the purchase of controlling interests in the Owned Hotels, to repay existing indebtedness and for general corporate purposes. |
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