Meristar (NYSE:MHX)
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From Jul 2019 to Jul 2024
MeriStar Hospitality Corporation (NYSE: MHX), one of the
nation's largest hotel real estate investment trusts (REIT), today
announced that John E. Plunket has been named senior vice president -
real estate. In his new position, he will oversee MeriStar's overall
dispositions and acquisitions activities. He joined the company from
Oak Hill Realty, L.L.C., where he has been a partner since 2001. From
1993 until 2001, Plunket was executive vice president - finance &
development with CapStar Hotels, Inc., MeriStar's predecessor company.
"We welcome John back to MeriStar, where he was a key part of our
early growth," said Paul W. Whetsell, chairman and chief executive
officer. "He has in-depth expertise in hotel real estate and will play
an important role in the structure of our portfolio. His initial
responsibilities will be to complete the $60 million in dispositions
we announced earlier this year. In addition, John will be evaluating
additional potential asset sales to take advantage of current market
conditions as we consider ways to reduce our more expensive debt,
particularly our 10 1/2 percent senior notes, which become callable
this December."
Prior to joining CapStar in 1993, Plunket served in a variety of
positions, including vice president at CIG International, Ltd., an
investor in hotels, assisted living and residential developments;
managing director at Cassidy & Pinkard in Washington, D.C., where he
started up the firm's successful Real Estate Finance Group; and senior
vice president of Oxford Mortgage & Investment Corporation in
Bethesda, Md. He began his hospitality career at Marriott Corporation
where he rose through the ranks from director of hotel development to
director of project finance.
Plunket holds a Bachelor of Science degree in Hotel & Restaurant
Administration from Cornell University. He serves on the board of
directors of the National Chapter of the Alzheimer's Association.
Arlington, Va.-based MeriStar Hospitality Corporation owns 72
principally upscale, full-service hotels in major markets and resort
locations with 20,115 rooms in 22 states and the District of Columbia.
The company owns hotels under such internationally known brands as
Hilton, Sheraton, Marriott, Ritz-Carlton, Westin, Doubletree and
Radisson. For more information about MeriStar Hospitality, visit the
company's Web site: www.meristar.com.
This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E
of the Securities Exchange Act of 1934. Forward-looking statements,
which are based on various assumptions and describe our future plans,
strategies and expectations, are generally identified by our use of
words such as "intend," "plan," "may," "should," "will," "project,"
"estimate," "anticipate," "believe," "expect," "continue,"
"potential," "opportunity," and similar expressions, whether in the
negative or affirmative. We cannot guarantee that we actually will
achieve these plans, intentions or expectations. All statements
regarding our expected financial position, business and financing
plans are forward-looking statements. Except for historical
information, matters discussed in this press release are subject to
known and unknown risks, uncertainties and other factors which may
cause our actual results, performance or achievements to be materially
different from future results, performance or achievements expressed
or implied by such forward-looking statements. Factors which could
have a material adverse effect on our operations and future prospects
include, but are not limited to: economic conditions generally and the
real estate market specifically; supply and demand for hotel rooms in
our current and proposed market areas; other factors that may
influence the travel industry, including health, safety and economic
factors; competition; cash flow generally, including the availability
of capital generally, cash available for capital expenditures, and our
ability to refinance debt; the effects of threats of terrorism and
increased security precautions on travel patterns and demand for
hotels; the threatened or actual outbreak of hostilities and
international political instability; governmental actions, including
new laws and regulations and particularly changes to laws governing
the taxation of real estate investment trusts; weather conditions
generally and natural disasters; rising interest rates; and changes in
generally accepted accounting principles, policies and guidelines
applicable to real estate investment trusts. These risks and
uncertainties should be considered in evaluating any forward-looking
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reference herein. All forward-looking statements speak only as of the
date of this press release or, in the case of any document
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person acting on our behalf are qualified by the cautionary statements
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release any revisions to forward-looking statements to reflect events,
circumstances or changes in expectations after the date of this press
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