CapStar Hotel Company Files $600 Million Shelf Registration.WASHINGTON--(BUSINESS WIRE)--Aug. 26, 1997--CapStar Hotel Company (NYSE NYSE See: New York Stock Exchange : CHO CHO Carbohydrate (chemical formla Carbon Hydrogen Oxygen) CHO Chinese Hamster Ovary CHO Chemical Hygiene Officer CHO Chief Health Officer (corporate title) ), a leading hotel investment and management company, today announced that it filed on August 22 a shelf registration with the Securities and Exchange Commission for $600 million of common and preferred shares Preferred shares Preferred shares give investors a fixed dividend from the company's earnings and entitle them to be paid before common shareholders. See: Preferred stock. , debt securities and warrants. Proceeds will be used for general corporate purposes, including future hotel acquisitions, capital improvements to existing hotels and repayment of debt. Washington, D.C.-based CapStar Hotel Company owns and manages upscale, full-service hotels throughout the U.S. under such internationally known brands as Hilton, Sheraton, Marriott, Embassy Suites, Doubletree, Crowne Plaza This article or section needs sources or references that appear in reliable, third-party publications. Alone, primary sources and sources affiliated with the subject of this article are not sufficient for an accurate encyclopedia article. and Westin. CapStar's hotel portfolio currently comprises 41 owned hotels with 10,521 rooms and 30 managed hotels with 5,230 rooms, or a total of 71 properties with 15,751 rooms. The company has one additional hotel under purchase contract and is actively seeking acquisitions and management contracts in major markets and resort locations throughout North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . CONTACT: John Emery emery: see corundum. emery Granular rock consisting of a mixture of the mineral corundum (aluminum oxide, Al2O3) and iron oxides such as magnetite (Fe3O4) or hematite (Fe2O3). Chief Financial Officer (202) 965-4455 or Robert Jones/Vince Daniels/Jim Cappuccio Leslie Feldman (financial media) Morgen-Walke Associate (212) 850-5600 or Jerry Daly or Carol McCune (media) Daly Gray (609) 383-1414 |
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