Senior Vice President – Real Estate
|ARLINGTON, Va., July 19, 2005 — 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 10½ 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.
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.
Sr. Director, Finance & Investor Relations
|Also See:||Hotel REIT MeriStar Hospitality Reports a First Quarter 2005 Net Loss of $13.4 million Compared with a Loss of $40.2 million a Year Earlier; RevPAR Up 5.1% / Hotel Operating Statistics / May 2005|
|MeriStar Hospitality Promotes William Reynolds to Executive Vice President and Chief Investment Officer / April 2004|