SECURITIES AND EXCHANGE COMMISSION
                              Washington D.C. 20549


                                    FORM 8-K

                                 CURRENT REPORT


                     Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934


        Date of Report (Date of earliest event reported): July 20, 1999


                          BUCKHEAD AMERICA CORPORATION
               (Exact name of registrant as specified in charter)

                         Commission File Number 0-22132


          Delaware                                         58-2023732
(State or other jurisdiction of                (IRS Employer Identification No.)
       incorporation)




     4243 Dunwoody Club Drive,
           Suite 200                                             30350
        Atlanta, Georgia                                       (Zip Code)
(Address of principal executive offices)




        Registrant's telephone number including area code (770) 393-2662



  (Former name or former address, if changed since last report) Not Applicable





867089v1



ITEM 5.  OTHER EVENTS.

     On July 20, 1999,  Buckhead America  Corporation (the "Company")  announced
that its board of directors  authorized  the  repurchase of up to 100,000 of the
Company's approximately 2 million outstanding common shares from time to time on
the open market.

     The funds for the stock  repurchase  program will come from the proceeds of
the recent sale of the Company's Orlando Hotel.

     The Company  recently  completed  the sale and  leaseback of its  150-room,
Orlando,  Florida  Country Hearth Inn.  A partnership in which Buckhead  America
holds a 59 percent  interest,  agreed to sell the hotel and related property for
$13.5  million to make way for a planned  expansion of the nearby  Orange County
Convention Center.

     The total cash proceeds from the sale was  approximately  $5.7 million,  or
$2.95 a share,  resulting in a pretax gain of approximately $4 million, or $2.08
a share.  The  leaseback  and  continued  operation of the property as a Country
Hearth Inn until 2001 will generate  additional  cash flow of  approximately  $2
million to the partnership.

     Proceeds from the Orlando  transaction will be used for share  repurchases,
for the  continued  expansion of the Country  Hearth Inn lodging  system and for
other corporate purposes.






                                   SIGNATURES


          Pursuant to the  requirements of the Securities  Exchange Act of 1934,
the  Registrant  has duly  caused  this report to be signed on its behalf by the
undersigned hereunto duly authorized.


                              BUCKHEAD AMERICA CORPORATION



Date:  July 30, 1999         By:/s/ Robert B. Lee
                                ---------------------------------------
                                Robert B. Lee, Vice President and Chief
                                Financial Officer