UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
AMENDMENT NO. 1
HOSPITALITY WORLDWIDE SERVICES, INC.
(f/k/a LIGHT SAVERS U.S.A., INC.)
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(Name of issuer)
COMMON STOCK, PAR VALUE $.01 PER SHARE
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(Title of class of securities)
44106N 10 0
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(CUSIP number)
E.W. Plaut
c/o Relco Inc.
3 Stamford Landing, 46 Southfield Avenue
Stamford, Connecticut 06902
(203) 975-7254
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(Name, address and telephone number of person
authorized to receive notices and communications)
October 31, 1996
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(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(b)(3) or (4), check the following box / /.
Check the following box if a fee is being paid with the statement / /.(A fee is
not required only if the reporting person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7).
NOTE. Six copies of this statement, including all exhibits, should be filed with
the Commission. SEE Rule 13d-1(a) 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 purpose 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.44106N 10 0 13D Page 2 of 4 Pages
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================================================================================
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Watertone Holdings LP
06-1453057
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
OO1
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) / /
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6 CITIZENSHIP OR PLACE OR ORGANIZATION
Delaware
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NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 1,800,000
OWNED BY
EACH ---------------------------------------------------------
REPORTING 8 SHARED VOTING POWER
PERSON WITH
Not Applicable
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9 SOLE DISPOSITIVE POWER
1,800,000
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10 SHARED DISPOSITIVE POWER
Not Applicable
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,800,000
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
26.9%
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14 TYPE OF REPORTING PERSON*
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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1 Shares issued in connection with an acquisition.
<PAGE>
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CUSIP No.44106N 10 0 13D Page 3 of 4 Pages
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This Amendment No. 1 (the "Amendment No. 1") amends the Schedule 13D
dated July 17, 1996 (the "Schedule D"), filed by Watertone Holdings LP. Except
as specifically amended hereby, the Schedule D remains in full force and effect.
Defined terms herein shall have the meaning specified in the Schedule
13D, except as otherwise provided herein.
Item 1 is hereby amended in its entirety to read:
Item 1. Security and Issuer
-------------------
The title of the class of equity security to which this statement
relates is the Common Stock, $.01 par value per share, of Hospitality Worldwide
Services, Inc. (f/k/a Light Savers U.S.A., Inc.), a New York corporation
("Hospitality"), and the address of its principal executive offices is 509
Madison Avenue, Suite 1114, New York, New York 10022.
All references in the Schedule 13D to the term "Light Savers," as
defined therein, shall hereby be deemed to be references to the term
"Hospitality," as defined herein.
Item 3 is hereby amended in its entirety to read:
Item 3. Source and Amount of Funds or Other Consideration
On June 13 1996, Watertone acquired from Watermark Investments Limited,
a Delaware corporation ("Watermark") 2,300,000 shares of common stock, par value
$.01 per share, of Hospitality (the "Common Stock"), in exchange and
consideration for a limited partnership interest in Watertone. On October 31,
1996, pursuant to a reorganization of Watertone's assets and through an
amendment and restatement of Watertone's Agreement of Limited Partnership,
Watertone transferred its interest in 500,000 shares of Common Stock to the
general partner of Watertone, Watertone LLC, effectively reducing Watertone's
intererest in Hospitality to 1,800,000 shares of Common Stock.
Subsection (a) Item 5 is hereby amended in its entirety to read:
Item 5. Interest in Securities of the Issuer
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(a) As of the date hereof, Watertone beneficially owned 1,800,000
shares of Hospitality Common Stock. Such shares constitute 26.9% of the shares
of Hospitality common stock outstanding as of the date hereof. As of the date
hereof there were 6,700,655 shares of Hospitality common stock outstanding.
<PAGE>
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CUSIP No.44106N 10 0 13D Page 4 of 4 Pages
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SIGNATURES
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true,
complete and correct.
Dated: December 23, 1996
WATERTONE HOLDINGS LP
By: WATERTONE L.L.C., its
General Partner
By: /s/ John A. Garraty, Jr.
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John A. Garraty, Jr.
Manager
