LodgeNet to file for bankruptcy

By Danny King

LodgeNet, maker of interactive in-room entertainment systems for hotels, will file for bankruptcy under Chapter 11 and will reorganize with Colony Capital as the company’s majority stockholder.

Sioux Falls, S.D.-based LodgeNet will receive $60 million in funding from Colony Capital. LodgeNet also reached an agreement to work with DirecTV to further market LodgeNet services to hospitality and healthcare companies.

LodgeNet's interactive television, movie and video gaming systems are in more than 1.5 million hotel rooms.

Additionally, LodgeNet received a multiyear extension on $346 million in debt.

Colony Capital's hotel holdings include the Fairmont and Raffles hotel brands. Also, Colony is working with the Trump Organization at redeveloping the Old Post Office Building into a luxury hotel in Washington, D.C.

Follow Danny King on Twitter @dktravelweekly. 

Correction: The headline was corrected to show that LodgeNet will file for bankruptcy but hasn't done so yet. 

This page is protected by Copyright laws. Do Not Copy. Purchase Reprint
blog comments powered by Disqus

View Comment Guidelines

Please upgrade your Flash Player.
Please upgrade your Flash Player.

Travel Weekly Poll

Voices

  • Consumer media discover that travel agents do exist

    "Contrary to some thoughts, travel agents do exist ... We are usually able to get clients better prices, and we know we can see that clients have better experiences. And as our personal motto is: Our Service Travels With You."

    More»

TW Index: Most Active Stocks

Latest Top News:
Caribbean
Europe
Travel Weekly is on Facebook
Viewpoints For Travel Agents
Travel Weekly Topics