SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934
JULY 15, 1997
HOST MARRIOTT SERVICES CORPORATION
DELAWARE 1-14040 52-1938672
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(State of Incorporation) (Commission (I.R.S. Employer
File Number) Identification Number)
6600 ROCKLEDGE DRIVE
BETHESDA, MARYLAND 20817
(301) 380-7000
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ITEM 1. CHANGES IN CONTROL OF REGISTRANT.
None.
ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS.
None.
ITEM 3. BANKRUPTCY OR RECEIVERSHIP.
None.
ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT.
None.
ITEM 5. OTHER EVENTS.
News Release dated July 15, 1997 announcing stock repurchase program
and forward looking statements.
ITEM 6. RESIGNATIONS OF REGISTRANT'S DIRECTORS.
None.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
EXHIBIT NO.
20 News Release dated July 15, 1997
ITEM 8. CHANGE IN FISCAL YEAR.
None.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
HOST MARRIOTT SERVICES CORPORATION
JULY 15, 1997 /S/ BRIAN W. BETHERS
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Date Brian W. Bethers
Senior Vice President and Chief Financial Officer
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EXHIBIT 20
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FOR IMMEDIATE RELEASE FOR MORE INFORMATION:
MEDIA INQUIRIES:
WENDY WATKINS: 301/380-7903
INVESTOR RELATIONS:
SHARON WHITING: 301/380-7215
HTTP://WWW.HMSCORP.COM
1-888-380-HOST
HOST MARRIOTT SERVICES ANNOUNCES SHARE REPURCHASE
BETHESDA, MD, JULY 15, 1997--Host Marriott Services today announced
that its Board of Directors has authorized the repurchase of up to $15,000,000
of the company's common stock on the open market. The shares may be used in
connection with employee stock ownership plans or for general corporate
purposes, including acquisitions.
"The Company's shares represent an excellent investment opportunity,"
stated Bill McCarten, President and Chief Executive Officer of Host Marriott
Services. "We believe the Board's authorization to repurchase Host Marriott
Services shares represents a strong vote of confidence in our Company's future."
The company expects to fund the repurchase program with available cash
and does not anticipate any change in its expansion plans. While the program is
authorized for up to 24 months, the timing of the program and the number of
shares ultimately purchased will be dependent upon future market conditions. The
Board of Directors reserves the authority to modify or terminate the program at
any time in light of changing circumstances.
-more-
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EXHIBIT 20
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Host Marriott Services Corporation [NYSE:HMS], with its worldwide
headquarters in Bethesda, Maryland, is the leading food, beverage and retail
concessionaire at nearly 200 travel and entertainment venues, with more than
23,000 employees in five countries around the globe. Host Marriott Services,
with revenues of $1.3 billion, is best known for its custom solutions business
approach that combines internationally known brands with regional favorites in
airports, travel plazas, shopping malls and sports and entertainment
attractions. The company, which spun-off from Host Marriott Corporation in
December 1995, has concentrated its recent growth initiatives on international
airports and domestic shopping malls.
CERTAIN MATTERS DISCUSSED WITHIN THIS NEWS RELEASE MAY BE
FORWARD-LOOKING STATEMENTS WITHIN THE MEANING OF THE PRIVATE LITIGATION REFORM
ACT OF 1995 AND AS SUCH MAY INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES AND
OTHER FACTORS, WHICH MAY CAUSE THE ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS
OF HOST MARRIOTT SERVICES TO BE DIFFERENT FROM THAT EXPRESSED OR IMPLIED BY SUCH
FORWARD-LOOKING STATEMENTS. ALTHOUGH HOST MARRIOTT SERVICES BELIEVES THE
EXPECTATIONS REFLECTED IN SUCH FORWARD-LOOKING STATEMENTS ARE BASED ON
REASONABLE ASSUMPTIONS, IT CAN GIVE NO ASSURANCE THAT ITS EXPECTATIONS WILL BE
ATTAINED. THESE RISKS ARE DETAILED FROM TIME TO TIME IN THE COMPANY'S FILINGS
WITH THE SECURITIES AND EXCHANGE COMMISSION.
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