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  MeriStar Hospitality Corporation Completes $8.0 million Renovation at the 500-room Sheraton Colorado Springs

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Hotel Has One of the Highest Guest Satisfaction Indexes
Among Sheraton Hotels Nationwide

ARLINGTON, Va., July 28, 2004 — MeriStar Hospitality Corporation (NYSE: MHX), one of the nation’s largest hotel real estate investment trusts (REIT), today announced that it had completed an $8.0 million renovation program at its 500-room Sheraton Colorado Springs.  The renovation is part of the company’s previously announced, multi-year plan to dramatically enhance the quality and earnings power of its hotel portfolio.
 

“Our renovation program will allow us to take full advantage of the lodging recovery, which currently is in its beginning stages and which we expect will extend over several more years,” said Bruce G. Wiles, president and chief operating officer.  “For the first six months of 2004, we invested approximately $50 million in upgrades and improvements across our entire portfolio of properties.”

Gary Upton, general manager of the Sheraton Colorado Springs, noted that the renovation had touched all aspects of the 


Sheraton Colorado Springs
2886 S. Circle Drive
Colorado Springs, Colorado 80906 
property, located at 2886 Circle Drive just off Interstate 25.  “All 500 guestrooms, including 64 Executive Club rooms, have been upgraded with such first-class amenities as the Sheraton signature Suite Sleeper bed™; 27-inch TVs and high-speed Internet access.  In addition, we renovated all of our meeting and public spaces, including the lobby, two food outlets, and Rickenbacker’s nightclub, as well as the hotel elevators and parking lot.

“With more than 43,000 square feet of flexible meeting space and the largest ballroom in the city, we already have a well-established reputation as the city’s premier setting for business events,” he added.  “In fact, we are one of an elite group of 40 Starwood hotels chosen to participate in the Starwood Meeting Service Plan and enjoy one of the highest guest satisfaction indexes in the Sheraton family of hotels.  With this renovation, we are confident that we offer among the most memorable lodging and meeting experiences in this market.”

Located on the eastern base of the Rocky Mountains in the shadow of Pikes Peak, surrounded by such well-known attractions as the Air Force Academy, Garden of the Gods, and the US Olympic Training Center, the property features a 24-hour Business Center, complimentary fitness facility, concierge service and indoor and outdoor pools. 

Arlington, Va.-based MeriStar Hospitality Corporation owns 77 principally upscale, full-service hotels in major markets and resort locations with 21,619 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. 

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. 


 
Contact:

Bruce Riggins
VP, Strategic Planning & Analysis
(703) 812-7223
www.meristar.com

Also See: MeriStar to Spend Approximately $225 million On Renovations At Its Core 73 Hotel Properties Over the Next Two Years; Taking Advantage of Size and Scale to Accelerate Renovations and Reduce Costs / February 2004
Hotel Room Inventory in Colorado Springs Area Grows 42% In Last Decade; Occupancy Running Only 58% for First 7 Months of 2003 / September 2003


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