Overview
CapStar Hotel Company, headquartered in Washington, D.C., is a leading hotel investment and management company that acquires, owns, renovates, repositions and manages upscale, full-service hotels throughout the U.S. The company manages its own hotels as well as hotels owned by others. CapStar has a total market capitalization of $1.1 billion.
Growth through Acquisitions
Since the company successfully completed its initial public offering in August 1996, it has executed an opportunistic hotel acquisition program, more than quadrupling its owned-hotels portfolio to 52 properties. The company also has aggressively grown its hotel management portfolio and currently leases or operates some 68 hotels for individual owners.
CapStar's owned and managed properties operate under such internationally known brands as Hilton, Sheraton, Marriott, Embassy Suites, Doubletree, Crowne Plaza, Westin and Holiday Inn Select.
Funds for Expansion
CapStar has successfully raised funds from the public market and other sources to finance its numerous acquisitions. In August 1997 the company filed a shelf registration with the SEC for $600 million of securities. In the same month it completed a $150 million senior subordinated notes offering. In July 1997, CapStar closed on a $450 million line of credit, which enables the company to continue its pattern of rapid growth. The company also completed a successful follow-on stock offering in March 1997 for $150 million. Its stock trades on the New York Stock Exchange under the symbol "CHO."
CapStar continues to aggressively seek out acquisitions and management contracts in major markets and resort locations throughout North America.
CapStar Hotel Company
1010 Wisconsin Avenue, N.W.
Suite 650
Washington, DC 20007
(202) 965-4455
(202) 965-4445 fax
