UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION
13 OR 15(D) OF THE SECURITIES EXCHANGE
ACT OF 1934
Date of Report: June 18, 1997
HUMPHREY HOSPITALITY TRUST, INC.
(Exact name of registrant as specified in its charter)
Virginia 52-1889548
(State of Incorporation) (I.R.S. employer
identification no.)
12301 Old Columbia Pike, Silver Spring MD 20904 (301) 680-4343
(Address of principal executive offices) (Registrant's telephone number)
N/A
(Former Name or Former Address, if Changed Since Last Report)
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Item 2. Acquisitions or Disposition of Assets
On June 10, 1997, Humphrey Hospitality Trust, Inc., through its
partnership, Humphrey Hospitality L.P. (the "Partnership") completed the
acquisition of a 83-room Holiday Inn Express hotel in Allentown, Pennsylvania
from 644 Associates.
The purchase price for the hotel was follows:
Allentown, Pennsylvania $3,750,000
The purchase price was paid through the use of borrowings from the
Partnership's credit facility.
The property is to be leased by the Partnership to Humphrey Hospitality
Management, Inc., the lessor of the Partnership's other hotel properties,
pursuant to a percentage lease which provides for rent based, in part, on the
room revenues from the hotel. The lease went into effect on June 10, 1997.
The following table sets forth (i) the annual Base Rent, and (ii) the
annual Percentage Rent formula:
Acquired Hotel Base Rent Percentage Rent Formula
- -------------- --------- -----------------------
Holiday Inn Express $262,500 14.2% of quarterly room revenues up to
Allentown, PA room revenues of $1,250,000 per annum,
plus 8.5% of semi-annual room revenues
up to $1,250,000 of room revenues per
annum, plus 35% of room revenues in
excess of $1,250,000 of room revenues
per annum, plus 8% of monthly other
revenues.
Item 7. Financial Statements. Pro Forma Financial Information and Exhibits
As of the date of this report, historical audited financial information
is not available. Audited financial information will be provided for the above
acquisition, which did not meet the "significant amount of assets" test under
Item 2 of Form 8-K or Rule 3-05 of Regulation S-X for the periods specified
under Rule 3-05 of Regulation S-X, within sixty days of this report.
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SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the
Registrant has duly caused the report to be signed on its behalf by the
undersigned thereunto duly authorized.
Humphrey Hospitality Trust, Inc.
Date: 6/18/97 By: /s/ James I. Humphrey Jr.
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James I. Humphrey Jr.
Chairman and President
