MeriStar planning to call more than $100 million of 10½% notes

By E. Janene Geiss

Philadelphia, Nov. 1 - MeriStar Hospitality Corp., announced Tuesday that it expects to call between $100 million and $150 million of its $206 million 10½% senior unsecured notes by the end of this year with the balance being redeemed in the first quarter of 2006.

The notes become callable in December.

As part of its third-quarter financial results, the company reported that it would use the proceeds from the sale of the DoubleTree Albuquerque to reduce its outstanding debt with particular focus on the company's $206 million of 10½% senior unsecured notes, which become callable next month, according to a company news release.

When the company will call the notes depends on the timing of the asset sales, officials said in the release.

MeriStar, one of the nation's largest hotel real estate investment trusts, is based in Arlington, Va.

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