John E. Plunket Joins MeriStar Hospitality as Senior Vice President - Real Estate
20 7월 2005 - 5:30AM
Business Wire
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.
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