MeriStar Hospitality Corporation (NYSE: MHX), the nation`s third largest hotel real estate investment trust (REIT), today announced that Donald D. Olinger will join the company as chief financial officer in December. John Emery, president and chief operating officer of the REIT, previously performed the duties of chief financial officer.
Olinger is currently senior vice president and corporate controller for Host Marriott Corporation. During his nine-year tenure with Host Marriott, he`s held increasingly important positions and played a major role in the company`s growth and financing transactions. Previously, he was with the accounting firm, Deloitte & Touche.
“Our goal was to provide additional management depth and financial expertise for the REIT,” said Paul Whetsell, MeriStar chairman and chief executive officer. “Don adds great leadership and will oversee all financing and accounting activities. Because of his extensive prior experience with hotel REITs, we know he will contribute immediately.”
Olinger holds a bachelor`s degree in accounting from the University of Virginia and is a certified public accountant. He is a member of the board of directors of the District of Columbia chapter of Financial Executives International and chairs the Financial Accounting Standards Committee of the National Association of Real Estate Companies. He has served on the Best Financial Practices Council for the National Association of Real Estate Investment Trusts (NAREIT).
Washington, D.C.-based MeriStar Hospitality Corporation owns 109 principally upscale, full-service hotels in major markets and resort locations with 28,099 rooms in 27 states, the District of Columbia and Canada. The company owns hotels under such internationally known brands as Hilton, Sheraton, Marriott, Westin, Radisson and Doubletree. For more information about MeriStar Hospitality Corporation, visit the company`s Web site: www.meristar.com.
This press release contains forward-looking statements about MeriStar Hospitality Corporation, including those statements regarding future operating results and the timing and composition of revenues, among others. Except for historical information, the matters discussed in this press release are forward-looking statements that are subject to certain risks and uncertainties that could cause the actual results to differ materially, including the following: the current slowdown of the national economy; economic conditions generally and the real estate market specifically; the impact of the September 11, 2001 terrorist attacks or actual or threatened future terrorist incidents; legislative/regulatory changes, including changes to laws governing the taxation of REITs; availability of capital; interest rates; competition; supply and demand for hotel rooms in our current and proposed market areas; and changes in general accounting principles, policies and guidelines applicable to REITs. Additional risks are discussed in the Company`s filings with the Securities and Exchange Commission, including the Company`s annual report on Form 10-K for the year ended December 31, 2001.