MHX Meristar Hosp Cp

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 statements contained in this press release or incorporated by reference herein. All forward-looking statements speak only as of the date of this press release or, in the case of any document incorporated by reference, the date of that document. All subsequent written and oral forward-looking statements attributable to us or any person acting on our behalf are qualified by the cautionary statements in this section. We undertake no obligation to update or publicly release any revisions to forward-looking statements to reflect events, circumstances or changes in expectations after the date of this press release.