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    Capstar Hotel Company
    list rank

    From the April 28, 1997 Washington Post


    '96 (in $ 000s) % Change From '95
    Revenue 243,005 821.8
    Net Income 13,350 --
    Rank Last Year: None

    Description:
    CapStar Hotel owns and manages full-service hotels throughout the country under national brands such as Hilton, Sheraton, Marriott and Westin. The company owns 22 full-service hotels with 5,980 rooms. It manages another 31 hotels with 5,488 rooms.

    Business Resume:
    • Contact Info --
      1010 Wisconsin Ave., NW
      Washington, D.C. 20007
      202-965-4455
    • Main Business --
      Hotels investment and management
    • Founded --
      1988
    • Chairperson --
      Paul W. Whetsell (CEO)
    • President --
      Paul W. Whetsell
    • Employees --
      7,700
    • D.C.-Area Employees --
      650
    Developments:
    CapStar completed an initial public offering of 9.25 million shares of common stock at a price of $18 a share, raising $121.5 million, after buying back some shares. The company used part of the proceeds from the stock sale to repay $123.9 million in debt. It also secured a $225 million line of credit, of which a portion was used to fulfill CapStar's aggressive strategy of buying discounted, upscale, full-service hotels to renovate and reposition.

    Since going public in August, CapStar has acquired 10 properties and more than doubled the number of rooms its owns. So far this year, the company has agreed to buy six more hotels for $118.75 million.

    Copyright 1997 The Washington Post

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