Date: Fri, 19 Dec 1997 02:59:53 GMT Server: Microsoft-Internet-Information-Server/1.0 Content-Type: text/html Last-Modified: Tue, 16 Dec 1997 20:35:32 GMT Content-Length: 17957 CapStar Hotels - Capping the News

CapStar Hotel - Recent News

CapStar: Capping the News

December 8, 1997
CapStar Hotel Company Completes Acquisition of the Sheraton Mesa Hotel in Arizona

WASHINGTON, D.C., December 8, 1997--CapStar Hotel Company (NYSE: CHO), a leading hotel management and investment corporation, today announced that it has completed the acquisition of the 273-room Sheraton Mesa Hotel in downtown Mesa, Ariz., a suburb of Phoenix, from Town King Enterprise Company, Ltd. for $19.5 million. CapStar will invest approximately $1.4 million to renovate the hotel.

"The Sheraton Mesa will be our second hotel in the strong Arizona market," said Paul Whetsell, CapStar president and CEO. "We have acquired 26 hotels in 1997, and continue to seek first-class, full-service hotels in major metropolitan and resort markets that can benefit from refurbishing, repositioning and improved management."

The 12-story Sheraton Mesa Hotel is located in downtown Mesa, adjacent to the Mesa Convention Center and near a number of business/industrial facilities, including Boeing, Intel, General Motors and Motorola. In addition to the property's approximately 14,000 square feet of meeting/banquet space, the hotel contains a restaurant, lounge, exterior pool and a fitness center.

CapStar will spend $1.4 million to refurbish the property. Planned capital improvements include upgrading the hotel's concierge floor with new decor and soft goods, renovating and re-theming the Quail Run restaurant, and enhancing guest rooms and baths with new soft goods.

"Upon completion of the renovation program, the Sheraton Mesa will be repositioned as one of the leading hotels in Mesa, the fastest growing city in America," said David McCaslin, CapStar's chief operating officer. "With our added management and marketing expertise, we foresee substantial revenue enhancement opportunities, particularly from corporate group business."

Washington, D.C.-based CapStar Hotel Company owns and manages upscale, full-service hotels throughout the U.S. and Canada under such internationally known brands as Hilton, Sheraton, Marriott, Embassy Suites, Westin and Doubletree. Including the 7 hotels currently under contract, CapStar's hotel portfolio comprises 52 owned hotels with 13,510 rooms and 67 leased and/or managed hotels with 10,318 rooms, for a total of 119 properties with 23,828 rooms. The company continues to actively seek acquisitions and management contracts in major markets and resort locations throughout North America.

CapStar Contact: John Emery, Chief Financial Officer, (202) 965-4455
Media Contact: Jerry Daly or Chris Daly, Daly Gray Public Relations, (609) 383-1414

CapStar: RE-Capping the News

December 8, 1997:

CapStar Hotel Company Completes Acquisition of the Sheraton Mesa Hotel in Arizona

December 1, 1997:

CapStar Hotel Company Announces Extension of Exchange Offer for 8¾% Senior Subordinated Notes

December 1, 1997:

Boykin/CapStar Hotel Company Alliance Completes Acquisition of Omni Hotel Kansas City

November 25, 1997:

CapStar Hotel Completes Acquisition and Re-Flagging of Doubletree Hotel at Bradley International Airport in Windsor Locks, Connecticut

November 24, 1997:

CapStar Hotel Company Completes Acquisition of Winston Hospitality, Inc.

November 24, 1997:

CapStar Hotel Company Strengthens Corporate Finance Function

November 21, 1997:

CapStar Hotel Company Completes Acquisition of Governor Morris Hotel & Conference Center

November 19, 1997:

Boykin/CapStar Hotel Company Alliance to Acquire Omni Hotel Kansas City

November 18, 1997:

CapStar Hotel Company to Acquire Hotels in Arizona and Connecticut

October 30, 1997:

CapStar Hotel Company to Purchase Winston Hospitality, Inc.

October 27, 1997:

CapStar Hotel Company Announces Record Third Quarter Results

October 24, 1997:

CapStar Hotel Company Completes Acquisition of Embassy Suites Tucson International Airport

October 24, 1997:

CapStar Hotel Company Announces Underwriters Exercise Over-allotment Options to Purchase Common Stock and Convertible Subordinated Notes

October 13, 1997:

CapStar Hotel Company Announces Pricing of Primary and Secondary Stock Offerings and Debt Offering

September 23, 1997:

CapStar Hotel Company to Acquire Nine Hotels for $200 Million

August 26, 1997:

CapStar Hotel Company Acquires Jekyll Island Inn and Holiday Inn-Metrotown

August 26, 1997:

CapStar Hotel Company Files $600 Million Shelf Registration

August 19, 1997:

CapStar Hotel Company Completes Acquisition of Controlling Interest in Lexington Radisson Plaza Hotel and Vine Center Office Tower

August 19, 1997:

CapStar Hotel Company Completes Acquisition of Controlling Interest in Lexington Radisson Plaza Hotel and Vine Center Office Tower

August 12, 1997:

CapStar Hotel Company Completes Acquisition of The Embassy Suites Center City in Philadelphia

July 29, 1997:

CapStar Hotel Company Announces Second Quarter Results

July 28, 1997:

CapStar Hotel Company To Acquire the Embassy Suites Center City in Philadelphia

July 25, 1997:

CapStar Announces Intent to Offer $150 Million of Senior Subordinated Notes

July 24, 1997:

CapStar Hotel To Acquire Controlling Interest in Lexington Radisson Plaza Hotel and Vine Center Office Tower

July 24, 1997:

CapStar Hotel To Acquire Controlling Interest in Lexington Radisson Plaza Hotel and Vine Center Office Tower

July 23, 1997:

CapStar Hotel Company To Acquire the Doubletree Hotel Austin in Texas

July 16, 1997:

CapStar Hotel Company Completes Acquisition of Hotels in Georgetown and Chicago

July 8, 1997:

CapStar Hotel Company to Manage Crowne Plaza, Washington, D.C., Takes Minority Interest in The Woodward Hotel in New York

July 2, 1997:

CapStar Hotel Company Completes Acquisition of Washington National Airport Hilton in Crystal City

July 1, 1997:

CapStar Hotel Company Acquires Doubletree Resort at Desert Princess Country Club in Palm Springs, California

July 1, 1997:

CapStar Hotel Company Acquires Doubletree Resort at Desert Princess Country Club in Palm Springs, California

June 24, 1997:

CapStar Hotel Company To Acquire Washington National Airport Hilton in Crystal City

June 9, 1997:

CapStar Hotel Company To Acquire Upscale Properties in Georgetown and Chicago

June 3, 1997:

CapStar Hotel Company Names John Emery as Chief Financial Officer

May 27, 1997:

CapStar Hotel Company To Acquire Doubletree Resort at Desert Princess Country Club in Palm Springs, California

May 5, 1997:

CapStar Hotel Company Completes Acquisitions of Hotels in New Jersey and Kansas City

April 29, 1997:

CapStar Hotel Company Announces First Quarter Results

April 8, 1997:

CapStar Hotel Company To Acquire Hotels in New Jersey and Kansas City

April 2, 1997:

CapStar Hotels Completes Six-Hotel Acquisition Transaction

April 2, 1997:

Property Profiles of Six-hotel Portfolio Acquired by CapStar Hotel Company

March 31, 1997:

CapStar Hotel Company Acquires Great Valley Sheraton

March 21, 1997:

CapStar Hotel Company Acquires Cherry Hill Four Points By Sheraton

March 12, 1997:

CapStar Hotel Company Announces Pricing of Public Offering of 5,000,000 Shares of Common Stock

February 19, 1997:

CapStar Hotel Company To Acquire Eight Hotels for $119 Million; Plans Five Million Share Follow-on Offering

February 18, 1997:

CapStar Hotel Company Acquires Holiday Inn Riverfront-St. Louis in Joint Venture

February 2, 1997:

CapStar Hotel Company Completes Acquisition of Two Properties

January 30, 1997:

CapStar Hotel Company Closes Acquisition of Doubletree Hotel-LA/Worldport

January 27, 1997:

CapStar Hotel Company To Acquire Albuquerque Doubletree Hotel

January 14, 1997:

CapStar Hotel Company To Acquire Westchase Hilton in Houston

December 26, 1996:

CapStar Hotel Company Completes Acquisition of Embassy Suites-South Denver

December 23, 1996:

CapStar Hotel Company Announces Three New Management Contracts

December 18, 1996:

CapStar Hotel Company Completes Purchase of Five Hotels from MBL Life Assurance Corporation

December 18, 1996:

CapStar Hotel Company to Acquire the Doubletree Hotel-LA/Worldport

December 3, 1996:

CapStar Hotel Company Names William H. Reynolds, Jr. As Senior Vice-President of Development

December 2, 1996:

First Courtyard by Marriott to Open in New York City
$10 Million Renovation Program by CapStar Hotels Creates State-of-the-Art Property

November 26, 1996:

CapStar Hotel Company Signs Agreement to Acquire Holiday Inn Riverfront-St. Louis in Joint Venture

November 18, 1996:

CapStar Hotel Company Signs Agreement to Acquire The Embassy Suites-South Denver

November 6, 1996:

CapStar Hotel Company Announces Third Quarter and Nine Month Results

November 4, 1996:

CapStar Hotel Company Acquires Houston Hilton Hotel

October 16, 1996:

CapStar Hotel Company To Acquire Hilton Hotel in Houston

August 26, 1996:

CapStar Hotel Company Completes IPO of 9.25 Million Shares; Lists Common Shares on NYSE

August 20, 1996:

CapStar Hotel Company Goes Effective With IPO of 9.25 Million Shares; Lists Common Shares on NYSE

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