AmericInn(R), one of the nation's leading midscale hotel companies, today announced a major new expansion with the addition of five franchised locations owned by Summit Hotel Properties of Sioux Falls, S.D. The properties, all formerly branded as Comfort Inn(R) and Comfort Suites(R), are managed by Interstate Hotels & Resorts. The hotels are located in Salina, Kansas; Missoula, Montana; Twin Falls Idaho; Ft. Smith, Arkansas and Golden, Colorado."We are very pleased to announce this significant new growth of the AmericInn brand as part of our continuing national expansion strategy," said Paul Kirwin, President and CEO of AmericInn. "Partnering with experienced developers and operators like Summit Hotel Properties and Interstate Hotels & Resorts further strengthens the value of the AmericInn brand, reinforcing our commitment to franchisees and offering our guests new locations across the country," he said. [Read the full article]

At its annual meeting of the Board of Directors on April 27, 2011, Consolidated-Tomoka Land Co. (NYSE Amex: CTO) declared a dividend of $0.01 per share payable on May 27, 2011 to shareholders of record on May 13, 2011. William J. Voges, Chairman of the Board, stated, The Board remains committed to paying a dividend, and it has determined that based on the Company(TM)s current dividend level and the economic outlook, it would be more prudent to pay the dividend on a semi-annual basis rather than quarterly. There will not be a quarterly dividend paid in July and the proposed semi-annual dividend is expected to begin in October 2011. The Board will continue to review its dividend strategy and capital needs on a regular basis.Consolidated-Tomoka Land Co. [Read the full article]

The Annual Meeting of Shareholders of Consolidated-Tomoka Land Co. (NYSE Amex: CTO) was held today at the Holiday Inn Daytona Beach LPGA in Daytona Beach, Florida. Director candidates were elected as follows: William L. Olivari was elected as a Class III Director for a one-year term; and William H. Davison, Jeffery B. Fuqua, William H. McMunn, and Howard C. Serkin were elected as Class II Directors for a three-year term. All of the candidates were incumbent Directors. [Read the full article]

BFC Financial Corp. said its Woodbridge Holdings subsidiary agreed to turn over a stalled development site in South Carolina to lenders and pay $2.5 million to release it from further liabilities. Following the deal, the Fort Lauderdale-based company (Pink Sheets: BFCF) would have relinquished most of its real estate holdings. It already turned over its Tradition Florida project in Port St. Lucie to lenders. The Carolina Oak project in South Carolina had a $37.2 million mortgage from AmTrust Bank, which filed a foreclosure lawsuit shortly before it failed in 2009. An investor group now holds that loan. Under the settlement agreement, Woodbridge would convey the property to the loan holder in a deed in lieu of foreclosure. The $2.5 million payment by Woodbridge would release its guarantee of the debt. Another BFC subsidiary, Cypress Creek Holdings, is attempting to engineer a short sale of its 80,000-square-foot office building at 220 W. Cypress Creek Road. [Read the full article]