| Highland Hospitality Corp. |
8405 Greensboro Dr.
McLean, Va. 22102
Year founded: 2003
Industry: real estate
Revenue: $11.34 Million
Net Income/Loss: ($2,780,000.00)
Earnings per share: ($0.07)
Stockholder equity: $355.26 Million
Auditor: KPMG LLP
Assets: $379.49 Million
Market capitalization: $426.48 Million
52-week high: 12.53 2/12/2004
52-week low: 10 12/15/2003
Chairman: Bruce D. Wardinski
President and CEO: James L. Francis
Local employees: 10
Description: Highland Hospitality Corp. is a real estate investment trust that owns seven upscale hotels with a total of 1,725 guest rooms in five states. The hotels are operated by Crestline Hotels and Resorts and Hyatt Hotels under the Marriott, Hilton, Hyatt, Renaissance and Hilton Garden Inn brands.
Developments: Highland Hospitality completed its initial public offering in December. The IPO raised $321 million and private placements an additional $42.3 million. The company acquired five of its hotels that month, too. In January 2004 it bought two others, including the Hilton Garden Inn at Baltimore Washington International Airport. Highland says its future may hold investments in hotels abroad, helping it "to take advantage of cyclical changes in different markets and distinguish us from other lodging REITs.'' The numbers above reflect only the last two weeks of the year, the company's first two weeks as a public company.
© 2004 The Washington Post Company