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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
Under the Securities Exchange Act of 1934
(Amendment No. 4)*
--------------------
Hudson Hotels Corporation
(Name of Issuer)
Common Stock, par value $.001 per share
(Title of Class of Securities)
443794102
(CUSIP Number)
Stephanie B. Mudick
General Counsel - Corporate Law
Citigroup Inc.
399 Park Avenue
New York, New York 10043
(212) 559-1000
(Name, address and telephone number of person
authorized to receive notices and communications)
October 8, 1998
(Date of event which requires filing of this statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(e), Rule 13d-1(f) or Rule 13d-1(g), check the
following box [ ].
NOTE: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Rule 13d-7 for other
parties to whom copies are to be sent.
- ----------------------
* The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purposes of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
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CUSIP NO. 443794102 PAGE 2 OF 17 PAGES
- -------------------- ------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
SB Motel Corp., 13-3742249
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM
2(d) OR 2(e) [X]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER 0
NUMBER OF -------------------------------------------------------
SHARES 8 SHARED VOTING POWER 370,657
BENEFICIALLY
OWNED BY -------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER 0
REPORTING
PERSON WITH -------------------------------------------------------
10 SHARED DISPOSITIVE POWER 370,657
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON 370,657
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE
INSTRUCTIONS) [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) CO
- --------------------------------------------------------------------------------
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CUSIP NO. 443794102 PAGE 3 OF 17 PAGES
- -------------------- ------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Salomon Brothers Holding Company Inc, 13-3082695
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM
2(d) OR 2(e) [X]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER 0
NUMBER OF -------------------------------------------------------
SHARES 8 SHARED VOTING POWER 370,657
BENEFICIALLY
OWNED BY -------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER 0
REPORTING
PERSON WITH -------------------------------------------------------
10 SHARED DISPOSITIVE POWER 370,657
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON 370,657
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE
INSTRUCTIONS) [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) CO
- --------------------------------------------------------------------------------
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CUSIP NO. 443794102 PAGE 4 OF 17 PAGES
- -------------------- ------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Salomon Smith Barney Holdings Inc., 22-1660266
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM
2(d) OR 2(e) [X]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER 0
NUMBER OF -------------------------------------------------------
SHARES 8 SHARED VOTING POWER 382,057
BENEFICIALLY
OWNED BY -------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER 0
REPORTING
PERSON WITH -------------------------------------------------------
10 SHARED DISPOSITIVE POWER 382,057
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON 382,057
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE
INSTRUCTIONS) [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.4%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) HC
- --------------------------------------------------------------------------------
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CUSIP NO. 443794102 PAGE 5 OF 17 PAGES
- -------------------- ------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Citigroup Inc., 52-1568099
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM
2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER 0
NUMBER OF -------------------------------------------------------
SHARES 8 SHARED VOTING POWER 382,057
BENEFICIALLY
OWNED BY -------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER 0
REPORTING
PERSON WITH -------------------------------------------------------
10 SHARED DISPOSITIVE POWER 382,057
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON 382,057
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE
INSTRUCTIONS) [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.4%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) HC
- --------------------------------------------------------------------------------
<PAGE>
This Amendment No. 4 to the statement on Schedule 13D, dated November
27, 1996, as thereafter amended (the "Schedule 13D"), of Citigroup Inc.
(formerly Travelers Group Inc.) and certain of its subsidiaries is being filed
with respect to the Common Stock, $0.001 par value (the "Common Stock"), of
Hudson Hotels Corporation, a New York corporation (the "Issuer").
Item 2. IDENTITY AND BACKGROUND.
(a), (b), (c) and (f) This item as set forth in the Schedule 13D is
deleted and the following is inserted in its place:
"This Statement on Schedule 13D is being filed by SB Motel Corp., a
Delaware corporation ("SBMC"), Salomon Brothers Holding Company Inc, a Delaware
corporation ("SBHC"), Salomon Smith Barney Holdings Inc. (formerly Salomon Inc),
a Delaware corporation ("SSB Holdings"), and Citigroup Inc., a Delaware
corporation ("Citigroup"). All of the Common Stock reported herein, other than
the Common Stock held in accounts managed by a subsidiary of SSB Holdings, is
directly beneficially owned by SBMC. SBMC is a wholly owned subsidiary of SBHC,
which is a wholly owned subsidiary of SSB Holdings. SSB Holdings is a wholly
owned subsidiary of Citigroup. The principal executive offices of SBMC, SBHC,
and SSB Holdings are located, and the principal business of each are conducted,
at 388 Greenwich Street, New York, New York 10013. The principal executive
offices of Citigroup are located, and the principal business is conducted, at
399 Park Avenue, New York, New York, 10043.
SBMC engages in no direct activities. The principal business of SBHC
is dealing in swaps and certain over-the-counter instruments, lending and
holding certain investments. SBHC owns all the outstanding shares of common
stock of Salomon Smith Barney Inc., a registered broker-dealer. SSBH engages
in no direct activities. Citigroup businesses produce a broad range of
financial services -- asset management, banking and consumer finance, credit
and charge cards, insurance, investments, investment banking and trading -- and
use diverse channels to make them available to consumer and corporate customers
around the world. Among these businesses are Citibank, Commercial Credit,
Primerica Financial Services, Salomon Smith Barney, SSBC Asset Management,
Travelers Life & Annuity and Travelers Property Casualty.
The names, citizenship, business addresses and principal occupations
or employment of each of the executive officers and directors of Citigroup and
SBMC are set forth in Annexes A and B, which are incorporated herein by
reference."
(d) and (e) The last paragraph of this item as set forth in the
Schedule 13D is deleted and the following is inserted in its place:
"Except as set forth or incorporated by reference herein, during the
last five years, none of Citigroup, SSB Holdings, SBHC or SBMC or, to the best
knowledge of Citigroup, any of
PAGE 6 OF 17 PAGES
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the persons listed in Annexes A or B hereto, has been convicted in a criminal
proceeding (excluding traffic violations or similar misdemeanors) or has been a
party to a civil proceeding of a judicial or administrative body of competent
jurisdiction and as a result of such proceeding was or is subject to any
material judgment, decree or final order enjoining future violations of, or
prohibiting or mandating activities subject to, federal or state securities laws
or finding any violation with respect to such laws."
Item 4. PURPOSE OF TRANSACTION.
The following is inserted after the final paragraph of the item as set
forth in the Schedule 13D:
"Pursuant to an Agreement and Plan of Merger, dated as of April 5,
1998, between Travelers Group Inc. and Citicorp, as modified, on October 8,
1998, Citicorp merged with and into Citi Merger Sub Inc. (the "Subsidiary"), a
wholly owned subsidiary of Travelers Group Inc. (the "Merger"). In connection
with the Merger, the Subsidiary, which continued as the surviving corporation in
the Merger, changed its name to Citicorp and Travelers Group Inc. changed its
name to Citigroup Inc. As a result of the Merger, on October 8, 1998, the
composition of the Citigroup Board of Directors changed."
Item 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) and (b) This item as set forth in the Schedule 13D is deleted
and the following is inserted in its place:
"By reason of their relationship, Citigroup, SSB Holdings and SBHC may
be deemed to share voting and dispositive power with respect to shares of Common
Stock directly beneficially owned by SBMC. Similarly, Citigroup and SSB
Holdings may be deemed to have an indirect beneficial interest in the shares of
Common Stock held in accounts managed by a subsidiary of SSB Holdings. As of
October 8, 1998, Citigroup, SSB Holdings and SBHC may be deemed to beneficially
own the 370,657 shares of Common Stock owned by SBMC and the 11,400 shares of
Common Stock held in accounts managed by a subsidiary of SSB Holdings, which
represents 382,057 shares of Common Stock or 7.4% of the outstanding shares of
Common Stock (based on 5,159,162 shares of Common Stock outstanding as of July
18, 1998, as reported in the Issuer's Quarterly Report on Form 10-Q for the
quarter ended June 30, 1998).
Except as set forth or incorporated by reference herein, none of
Citigroup, SSB Holdings, SBHC, SBMC or, to the best knowledge of Citigroup, the
persons listed in Annexes A or B hereto beneficially owned any Common Stock on
October 8, 1998."
PAGE 7 OF 17 PAGES
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(c) This item as set forth in the Schedule 13D is deleted and the
following is inserted in its place:
"The dates, number of shares and prices per share for all purchases
and sales of Common Stock by a subsidiary of SSB Holdings from August 7, 1998
through October 8,1998 are shown on Annex C hereto, which is incorporated herein
by reference. All such purchases and sales of Common Stock were effected in the
over-the-counter market."
PAGE 8 OF 17 PAGES
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ANNEXES
-------
A. Executive Officers and Directors of Citigroup Inc.
B. Executive Officers and Directors of SB Motel Corp.
C. Description of Purchases and Sales of shares of Common Stock by a
subsidiary of SSB Holdings from August 7, 1998 through October 8,1998.
D. Agreement among SBMC, SBHC, SSB Holdings and Citigroup as to joint filing
of Schedule 13D.
PAGE 9 OF 17 PAGES
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SIGNATURE
---------
After reasonable inquiry and to the best of its knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
October 26, 1998
SB MOTEL CORP.
By: /s/ Saul M. Rosen
---------------------------------
Name: Saul M. Rosen
Title: Assistant Treasurer
SALOMON BROTHERS HOLDING COMPANY INC
By: /s/ Stephanie B. Mudick
---------------------------------
Name: Stephanie B. Mudick
Title: Assistant Secretary
SALOMON SMITH BARNEY HOLDINGS INC.
By: /s/ Stephanie B. Mudick
---------------------------------
Name: Stephanie B. Mudick
Title: Assistant Secretary
CITIGROUP INC.
By: /s/ Stephanie B. Mudick
---------------------------------
Name: Stephanie B. Mudick
Title: Assistant Secretary
PAGE 10 OF 17 PAGES
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October 20, 1998
ANNEX A
EXECUTIVE OFFICERS AND DIRECTORS OF
-----------------------------------
CITIGROUP INC.
--------------
NAME, TITLE AND CITIZENSHIP PRINCIPAL OCCUPATION AND BUSINESS ADDRESS
- --------------------------- -----------------------------------------
C. Michael Armstrong Chairman & Chief Executive Officer
Director (USA) AT&T Corp.
295 North Maple Avenue
Basking Ridge, New Jersey 07920
Judith Arron Executive Director
Director (USA) Carnegie Hall Corporation
881 Seventh Avenue
New York, New York 10019
Alain J.P. Belda President & Chief Operating Officer
Director (Brazil) Aluminum Company of America (Alcoa)
201 Isabella Street, Room 6J12
Pittsburgh, Pennsylvania 15212-5858
Kenneth J. Bialkin Partner
Director (USA) Skadden, Arps, Slate, Meagher & Flom LLP
919 Third Avenue
New York, New York 10022
Kenneth T. Derr Chairman & Chief Executive Officer
Director (USA) Chevron Corporation
575 Market Street
San Francisco, California 94105
John M. Deutch Institute Professor
Director (USA) Massachusetts Institute of Technology
77 Massachusetts Avenue, Room 6-208
Cambridge, Massachusetts 02139
Ann Dibble Jordan Consultant & Former Director of Social Services,
Director (USA) University of Chicago Medical Center
2904 Benton Place, NW
Washington, DC 20008
PAGE 11 OF 17 PAGES
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Reuben Mark Chairman & Chief Executive Officer
Director (USA) Colgate-Palmolive Company
300 Park Avenue
New York, New York 10022-7499
Michael T. Masin Vice Chairman, President International & Director
Director (USA) GTE Corporation
One Stamford Forum
Stamford, Connecticut 06904
Dudley C. Mecum Managing Director
Director (USA) Capricorn Management
30 East Elm Street
Greenwich, Connecticut 06830
Richard D. Parsons President
Director (USA) Time Warner, Inc.
75 Rockefeller Plaza, 29th Floor
New York, New York 10019
Andrall E. Pearson Chairman & Chief Executive Officer
Director (USA) Tricon Global Restaurants, Inc.
660 Steamboat Road
Greenwich, Connecticut 06830
John S. Reed Chairman & Co-Chief Executive Officer
Director & Executive Citigroup Inc.
Officer (USA) 399 Park Avenue
New York, New York 10043
Robert B. Shapiro Chairman & Chief Executive Officer
Director (USA) Monsanto Company
800 North Lindbergh Blvd.
Mail Zone D1S
St. Louis, Missouri 63167
Franklin A. Thomas Lawyer/Consultant & Former President,
Director (USA) The Ford Foundation
595 Madison Avenue, 33rd Floor
New York, New York 10022
PAGE 12 OF 17 PAGES
<PAGE>
Sanford I. Weill Chairman & Co-Chief Executive Officer
Director & Executive Citigroup Inc.
Officer (USA) 399 Park Avenue
New York, New York 10043
Edgar S. Woolard, Jr. Former Chairman & Chief Executive Officer
Director (USA) E.I. du Pont de Nemours & Company
1007 Market Street
Wilmington, Delaware 19898
Arthur Zankel General Partner
Director (USA) First Manhattan Company
437 Madison Avenue
New York, New York 10022
The Honorable Gerald R. Ford Former President of the United States
Honorary Director (USA) Post Office Box 927
Rancho Mirage, California 92270
William I. Campbell Co-Chief Executive Officer of Citigroup's Global
Executive Officer Consumer Business
(USA and Canada) 1 Court Square
Long Island City, New York 11120
Michael A. Carpenter Head of Affluent Market Section of Citigroup's
Executive Officer (USA) Global Consumer Business
153 East 53rd Street
New York, New York 10043
Paul J. Collins Vice Chairman
Executive Officer (USA) Citigroup Inc.
399 Park Avenue
New York, New York 10043
James Dimon President
Executive Officer Citigroup Inc.
388 Greenwich Street
New York, New York 10013
Thomas W. Jones Chief Executive Officer
Director & Executive of SSBC Asset Management
Officer (USA) 388 Greenwich Street
New York, New York 10013
PAGE 13 OF 17 PAGES
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Robert I. Lipp Co-Chief Executive Officer of Citigroup's Global
Executive Officer (USA) Consumer Business & Chairman of Travelers Property
Casualty Corp.
153 East 53rd Street
New York, New York 10043
Deryck C. Maughan Chairman & Co-Chief Executive Officer
Director (Great Britain) Salomon Smith Barney Holdings Inc.
388 Greenwich Street
New York, New York 10013
Victor J. Menezes President
Executive Officer (India) Citibank, N.A.
399 Park Avenue
New York, New York 10043
Heidi G. Miller Chief Financial Officer
Executive Officer (USA) Citigroup Inc.
399 Park Avenue
New York, New York 10043
Charles O. Prince, III Co-General Counsel & Corporate Secretary
Executive Officer (USA) Citigroup Inc.
399 Park Avenue
New York, New York 10043
John J. Roche Co-General Counsel
Executive Officer (USA) Citigroup Inc.
399 Park Avenue
New York, New York 10043
Mary Alice Taylor Corporate Executive Vice President
Executive Officer (USA) Citicorp & Citibank, N.A.
1 Court Square
Long Island City, New York 11120
PAGE 14 OF 17 PAGES
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ANNEX B
EXECUTIVE OFFICERS AND DIRECTORS OF
-----------------------------------
SB MOTEL CORP.
--------------
NAME, TITLE AND CITIZENSHIP PRINCIPAL OCCUPATION AND BUSINESS ADDRESS
- --------------------------- -----------------------------------------
Deryck C. Maughan Chairman & Co-Chief Executive Officer
President and Director Salomon Smith Barney Holdings Inc.
(Great Britain) 388 Greenwich Street
New York, New York 10013
Saul M. Rosen Managing Director
Assistant Treasurer (USA) Salomon Smith Barney Inc.
388 Greenwich Street
New York, New York 10013
Zachary Snow Managing Director
Director (USA) Salomon Smith Barney Inc.
388 Greenwich Street
New York, New York 10013
Jaime H. Taicher Vice President
Assistant Secretary (USA) Salomon Smith Barney Inc.
388 Greenwich Street
New York, New York 10013
PAGE 15 OF 17 PAGES
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ANNEX C
Set forth below are the purchases and sales of shares of Common Stock by a
subsidiary of SSB Holdings from August 7, 1998 through October 8, 1998.
Number of Number of
Trade Date Shares Purchased Shares Sold Price Per Share
-----------------------------------------------------------------
9/1/98 500 $2.75
9/3/98 1,000 $2.375
PAGE 16 OF 17 PAGES
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ANNEX D
AGREEMENT AS TO JOINT FILING OF SCHEDULE 13D
--------------------------------------------
Each of the undersigned hereby affirms that it is individually eligible to
use Schedule 13D, and agrees that this Schedule 13D is filed on its behalf.
Date: October 26, 1998
SB MOTEL CORP.
By: /s/ Saul M. Rosen
---------------------------------
Name: Saul M. Rosen
Title: Assistant Treasurer
SALOMON BROTHERS HOLDING COMPANY INC
By: /s/ Stephanie B. Mudick
---------------------------------
Name: Stephanie B. Mudick
Title: Assistant Secretary
SALOMON SMITH BARNEY HOLDINGS INC.
By: /s/ Stephanie B. Mudick
---------------------------------
Name: Stephanie B. Mudick
Title: Assistant Secretary
CITIGROUP INC.
By: /s/ Stephanie B. Mudick
---------------------------------
Name: Stephanie B. Mudick
Title: Assistant Secretary
PAGE 17 OF 17 PAGES
