Executive Vice President and Chief Investment Officer
|ARLINGTON, Va., April 20, 2004 — MeriStar Hospitality Corporation (NYSE:
MHX), one of the nation’s largest hotel real estate investment trusts (REIT),
today announced the promotion of William H. Reynolds, Jr. to executive
vice president and chief investment officer. In his new position,
he will direct MeriStar’s development team and oversee the company’s hotel
investment and divestment activities. He previously served as the
company’s senior vice president of development and acquisitions.
“Bill has a deep background in all facets of real estate, including nearly 20 years in the hotel industry,” said Paul W. Whetsell, MeriStar Hospitality chairman and chief executive officer. “His leadership of our nearly completed asset disposition program has been exceptional. We now are actively seeking to acquire high-quality assets, and Bill will play an instrumental role in leading the acquisition process.”
Reynolds joined MeriStar’s predecessor company, CapStar Hotel Company, in 1996 and over his eight-year tenure has been involved in the acquisition of more than $3.0 billion of hotel properties. He is a former principal of Dallas-based Metro Hotels, where he directed asset management, new hotel development, acquisitions, management contract procurement, timeshare and a development joint venture with The Continental Companies/Carnival Hotels & Resorts.
Previously, he was president of City Associates, a Houston-based office building and condominium developer, and is a former marketing and portfolio management officer for an apartment, condominium and single-family subdivisions developer with operations in Connecticut and Texas.
Reynolds holds a bachelor of arts degree from Trinity College in Hartford, Conn., and a masters in public administration from the University of New Haven. He is a member of the Connecticut and National Trusts for Historic Preservation. He is a director of The Writer’s Center in Bethesda, Md., a charter trustee of Trinity College, a past trustee of the American Resort Development Association, and is a director of Ameripark Corporation, InnRoom systems and Phoenix Chemical Services.
Arlington, Va.-based MeriStar Hospitality Corporation owns 81 principally upscale, full-service hotels in major markets and resort locations with 22,236 rooms in 23 states, the District of Columbia and Canada. The company owns hotels under such internationally known brands as Hilton, Sheraton, Marriott, Westin, Doubletree and Radisson.
This press release contains forward-looking statements about MeriStar Hospitality Corporation, including those statements regarding future operating results, the timing and composition of revenues and expected proceeds from asset sales, among others.
VP, Strategic Planning & AnalysisRelations (Media)
|Also See:||MeriStar Hospitality Completes Sale of Five Hotels for Aggregate $29.5 Million / March 2004|
|MeriStar, Which Owns 89 Hotels, Reports Full-Year 2003 Net Loss of $388 million Compared with a Loss of $161 million a Year Earlier; Full-year RevPAR Declines 3% / Hotel Operating Statistics / February 2004|