MeriStar Hospitality

MeriStar Hospitality Corporation was created on August 3, 1998, when American General Hospitality Corporation (¢¬"AGH¢¬), a corporation operating as a real estate investment trust, merged with CapStar Hotel Company (¢¬"CapStar¢¬). Prior to the merger, CapStar was required to separate its real estate assets, consisting primarily of hotel assets, fro... m its management business in order for the merged company to continue to operate as a REIT. After the separation, CapStar was merged with AGH to form MeriStar Hospitality Corporation. The newly separated management business was then named MeriStar Hotels & Resorts, Inc. (¢¬"MeriStar Hotels¢¬). MeriStar Hotels was engaged to be the lessee and manager of nearly all of our hotels, as was required by the relevant REIT rules at the time. On July 31, 2002, MeriStar Hotels merged with Interstate Hotels Corporation to form Interstate Hotels & Resorts, Inc. (¢¬"Interstate Hotels¢¬). As of June 30, 2011, Interstate Hotels managed 70 of our hotels. We and Interstate Hotels had previously entered into an intercompany agreement that governed a number of aspects of our relationship. During July 2004, we concluded negotiations with Interstate Hotels to terminate the intercompany agreement. Our Chief Executive Officer and Chairman of the Board, Paul W. Whetsell, continues to act as the Chairman of the Board of Interstate Hotels, although he is no longer an executive or an employee of Interstate Hotels.Read More