LodgeNet Interactive Corp. filed for bankruptcy protection with plans to be taken over by affiliates of Colony Capital LLC, which will invest $60 million and work with DirecTV to provide on-demand movies to hotel rooms, Bloomberg News reported today. LodgeNet had about $292 million in consolidated assets and about $449 million in consolidated debt as of Sept. 30, 2012, according to court papers. LodgeNet reported consolidated revenue of about $379 million for the twelve months ending Sept. 30, court papers show. LodgeNet, based in Sioux Falls, S.D., has not posted an annual profit since 2006. Last year, 95 percent of its revenue came from the hotel industry, with Hilton Worldwide and Marriott International Inc. accounting for about a third of sales, according to company filings.
