THE VIRGINIAN-PILOT
Copyright (c) 1997, Landmark Communications, Inc.
DATE: Wednesday, February 12, 1997 TAG: 9702120794
SECTION: BUSINESS PAGE: D1 EDITION: FINAL
LENGTH: 47 lines
The building at the corner of Monticello and Brambleton Avenues in Norfolk is undergoing another identity change. The hotel formerly known as the Golden Triangle and more recently as a Howard Johnson, erected new signage to reflect it's latest name - Hotel Norfolk. In January, the Howard Johnson corporate office filed suit against the building's owners, ordering them to cease using HoJos trademarks, signs and logos. HoJo corporate charged that the building's owners improperly transferred their Howard Johnson's franchise and impugned the name of the company. (Staff) CANDLEWOOD HOTEL TO OPEN IN HAMPTON
An extended-stay hotel chain, Candlewood Hotel Company Inc., will open its first property in the Hampton Roads region in August. Ground was broken this week in Hampton, on Butter Farm Road, for a 95-suite hotel (71 studio suites and 24 two-room suites). Average room rates are $65. Suites feature full kitchens, an entertainment center and an oversized reclining chair. Other amenities are free washers and dryers and local telephone calls, and 15-cent per minute long distance service. It is the Wichita-based chain's eighth hotel nationally. (Staff) NORFOLK SOUTHERN SECURES FINANCING FOR CONRAIL BID
Norfolk Southern Corp. has secured $13 billion in financing with Morgan Guaranty Trust Co., Merrill Lynch Capital Corp. and others for its bid to acquire Conrail Inc. Norfolk Southern also said it has sold $1 billion of debt securities to bolster its financing. News of the credit agreement was made in a filing Tuesday with the Securities and Exchange Commission. Norfolk made an unsolicited offer to buy Conrail for $115 a share in cash, or $10.3 billion, in October, after CSX Corp. made a cash-and-stock bid for Conrail that is valued at about $9.4 billion. (Dow Jones News Service) PIKE IS LEAVING WGNT FOR PA. TV STATION JOB
Christopher Pike, who moved from being general manager of CBS affiliate WTKR in this market to general manager at UPN station WGNT in 1995, is leaving Channel 27 to become vice president and general manager of WHTM, an ABC outlet in the Harrisburg, Lancaster and York market in Pennsylvania. Raymond Bottom Jr., chairman of the WGNT board, said in making the announcement on Tuesday that he accepted Pike's resignation ``with deep regret.'' The station owner in Pennsylvania, Allbritton Communications, is a Washington, D.C.-group with ABC affiliates. (Staff)