Meristar Hospitality Operating Partnership 10-Q 2005 Q2 Quarterly report

Exhibit 99.1

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Balance Sheet

June 30, 2005

Unaudited

(Dollars in thousands)

	MeriStar Hospitality OP, L.P.		Non-Guarantor Subsidiaries		MeriStar Lexington Mortgage, LLC	MeriStar Lexington Partners, LLC		MeriStar Sub 7C, LLC	MeriStar Sub 8G, LLC	AGH Upreit, LLC	MeriStar Sub 6H, L.P.		MeriStar Sub 8F, L.P.		MeriStar Sub 8B, LLC
Assets
Property and equipment	24,625		1,500,837		—	—		—	—	—	10,917		13,997		96,029
Accumulated depreciation	(15,612	)	(305,684	)	—	—		—	—	—	(1,097	)	(3,508	)	(15,966	)
	9,013		1,195,153		—	—		—	—	—	9,820		10,489		80,063
Assets held for sale	—		—		—	—		—	—	—	—		—		—
Investments in and advances to unconsolidated affiliates	2,430,439		7,992		40,712	8,291		32	72	2,989	—		—		—
Due to/from subsidiaries	(1,188,328	)	591,695		3,954	812		—	9	73	8,450		7,320		27,423
Note receivable from subsidiaries	266,548		—		—	—		—	—	—	—		—		—
Prepaid expenses and other assets	19,525		1,849		—	(30	)	—	—	—	9		7		—
Insurance claim receivable	34,458		—		—	—		—	—	—	—		—		—
Accounts receivable, net of allowance for doubtful accounts	16,614		146		—	—		—	—	—	—		—		63
Restricted cash	59,470		5,216		—	—		—	—	—	—		—		—
Cash and cash equivalents	65,606		—		—	—		—	—	—	—		—		—
	1,713,345		1,802,051		44,666	9,073		32	81	3,062	18,279		17,816		107,549
Liabilities and Partners’ Capital
Long-term debt	819,536		510,669		—	—		—	—	—	—		—		—
Notes payable to MeriStar Hospitality Corporation	202,552		—		—	—		—	—	—	—		—		—
Accounts payable and accrued expenses	11,031		6,674		—	—		—	—	—	43		18		(122	)
Accrued interest	37,325		2,174		—	—		—	—	—	—		—		—
Due to Interstate Hotels & Resorts	10,575		—		—	—		—	—	—	—		—		—
Other liabilities	6,808		—		—	—		—	—	—	—		142		—
Total liabilities	1,087,827		519,517		—	—		—	—	—	43		160		(122	)
Minority interests	2,416		—		—	—		—	—	—	—		—		—
Redeemable OP units at redemption value	19,423		—		—	—		—	—	—	—		—		—
Partners’ capital - Common OP units	603,679		1,282,534		44,666	9,073		32	81	3,062	18,236		17,656		107,671
	1,713,345		1,802,051		44,666	9,073		32	81	3,062	18,279		17,816		107,549

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Balance Sheet

June 30, 2005

Unaudited

(Dollars in thousands)

	MeriStar Sub 1C, LLC		MeriStar Sub 8E, LLC		MeriStar Sub 7F, LLC		MeriStar Sub 5L, LLC		MeriStar Sub 3C, LLC		MeriStar Sub 5R, LLC		MeriStar Sub 8A, LLC	MeriStar Sub 6D, LLC		MeriStar Sub 6E, LLC		MeriStar Sub 4E, L.P.
Assets
Property and equipment	27,760		16,161		9,895		12,377		17,710		—		—	18,492		52,357		—
Accumulated depreciation	(7,932	)	(3,891	)	(640	)	(804	)	(4,690	)	—		—	(3,588	)	(12,235	)	(1	)
	19,828		12,270		9,255		11,573		13,020		—		—	14,904		40,122		(1	)
Assets held for sale	—		—		—		—		—		—		—	—		—		—
Investments in and advances to unconsolidated affiliates	—		—		—		—		—		43		—	—		—		—
Due to/from subsidiaries	(4,431	)	8,067		3,805		4,802		7,519		(43	)	—	10,295		56,744		7,074
Note receivable from subsidiaries	—		—		—		—		—		—		—	—		—		—
Prepaid expenses and other assets	37		—		6		—		23		—		—	—		777		—
Insurance claim receivable	—		—		—		—		—		—		—	—		—		—
Accounts receivable, net of allowance for doubtful accounts	—		—		—		—		—		—		—	110		—		—
Restricted cash	—		—		—		—		—		—		—	—		3,014		—
Cash and cash equivalents	—		—		—		—		—		—		—	—		—		—
	15,434		20,337		13,066		16,375		20,562		—		—	25,309		100,657		7,073
Liabilities and Partners’ Capital
Long-term debt	—		—		—		—		—		—		—	—		37,650		—
Notes payable to MeriStar Hospitality Corporation	—		—		—		—		—		—		—	—		—		—
Accounts payable and accrued expenses	54		3		156		44		213		—		—	(222	)	98		—
Accrued interest	—		—		—		—		—		—		—	—		183		—
Due to Interstate Hotels & Resorts	—		—		—		—		—		—		—	—		—		—
Other liabilities	—		—		—		—		—		—		—	—		—		—
Total liabilities	54		3		156		44		213		—		—	(222	)	37,931		—
Minority interests	—		—		—		—		—		—		—	—		—		—
Redeemable OP units at redemption value	—		—		—		—		—		—		—	—		—		—
Partners’ capital - Common OP units	15,380		20,334		12,910		16,331		20,349		—		—	25,531		62,726		7,073
	15,434		20,337		13,066		16,375		20,562		—		—	25,309		100,657		7,073

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Balance Sheet

June 30, 2005

Unaudited

(Dollars in thousands)

	MeriStar Sub 1B, LLC		MeriStar Sub 5F, L.P.		MeriStar Sub 6G, LLC		MeriStar Sub 8C, LLC	MeriStar Sub 4C, L.P.	MeriStar Sub 4H, L.P.	MeriStar Sub 7E, LLC		MeriStar Sub 3D, LLC		MeriStar Sub 1A, LLC	MeriStar Sub 7A Joint Venture
Assets
Property and equipment	21,337		28,632		24,522		—	—	1	20,302		23,710		—	—
Accumulated depreciation	(4,832	)	(899	)	(6,075	)	—	—	—	(4,262	)	(8,063	)	—	—
	16,505		27,733		18,447		—	—	1	16,040		15,647		—	—
Assets held for sale	—		—		—		—	—	—	—		—		5,063	—
Investments in and advances to unconsolidated affiliates	—		—		—		—	—	—	—		—		—	—
Due to/from subsidiaries	15,679		3,700		10,271		11,439	—	3,413	6,469		9,546		8,944	9,900
Note receivable from subsidiaries	—		—		—		—	—	—	—		—		—	—
Prepaid expenses and other assets	1		9		—		—	—	—	—		2		49	—
Insurance claim receivable	—		—		—		—	—	—	—		—		—	—
Accounts receivable, net of allowance for doubtful accounts	96		—	��	—		—	—	—	—		—		—	—
Restricted cash	—		—		—		—	—	—	—		—		—	—
Cash and cash equivalents	—		—		—		—	—	—	—		—		—	—
	32,281		31,442		28,718		11,439	—	3,414	22,509		25,195		14,056	9,900
Liabilities and Partners’ Capital
Long-term debt	28		—		—		—	—	—	—		—		—	—
Notes payable to MeriStar Hospitality Corporation	—		—		—		—	—	—	—		—		—	—
Accounts payable and accrued expenses	50		125		63		—	—	—	123		73		12	—
Accrued interest	—		—		—		—	—	—	—		—		—	—
Due to Interstate Hotels & Resorts	—		—		—		—	—	—	—		—		—	—
Other liabilities	—		—		—		—	—	—	—		—		—	—
Total liabilities	78		125		63		—	—	—	123		73		12	—
Minority interests	—		—		—		—	—	—	—		—		—	—
Redeemable OP units at redemption value	—		—		—		—	—	—	—		—		—	—
Partners’ capital - Common OP units	32,203		31,317		28,655		11,439	—	3,414	22,386		25,122		14,044	9,900
	32,281		31,442		28,718		11,439	—	3,414	22,509		25,195		14,056	9,900

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Balance Sheet

June 30, 2005

Unaudited

(Dollars in thousands)

	MeriStar Sub 2B, LLC	MeriStar Sub 3A, LLC	MeriStar Sub 4A, L.P.	MeriStar Sub 4D, LLC	MeriStar Sub 2A, LLC	MeriStar Sub 6L, LLC	MDV Limited Partnership		MeriStar Sub 5C, LLC	MeriStar Sub 6J, LLC		MeriStar Sub 1D, LLC
Assets
Property and equipment	—	—	—	—	—	—	4,016		—	20,202		70,978
Accumulated depreciation	—	—	—	—	—	—	(938	)	—	(4,563	)	(15,364	)
	—	—	—	—	—	—	3,078		—	15,639		55,614
Assets held for sale	—	—	—	—	—	—	—		—	—		—
Investments in and advances to unconsolidated affiliates	—	—	—	—	—	—	—		—	—		—
Due to/from subsidiaries	—	4,976	—	—	—	20,297	2,976		—	11,175		23,149
Note receivable from subsidiaries	—	—	—	—	—	—	—		—	—		—
Prepaid expenses and other assets	—	—	—	—	—	—	9		—	13		—
Insurance claim receivable	—	—	—	—	—	—	—		—	—		—
Accounts receivable, net of allowance for doubtful accounts	—	—	—	—	—	178	—		—	—		—
Restricted cash	—	—	—	—	—	—	—		—	—		—
Cash and cash equivalents	—	—	—	—	—	—	—		—	—		—
	—	4,976	—	—	—	20,475	6,063		—	26,827		78,763
Liabilities and Partners’ Capital
Long-term debt	—	—	—	—	—	—	—		—	—		—
Notes payable to MeriStar Hospitality Corporation	—	—	—	—	—	—	—		—	—		—
Accounts payable and accrued expenses	—	—	—	—	—	—	60		—	86		18
Accrued interest	—	—	—	—	—	—	—		—	—		—
Due to Interstate Hotels & Resorts	—	—	—	—	—	—	—		—	—		—
Other liabilities	—	—	—	—	—	—	—		—	—		—
Total liabilities	—	—	—	—	—	—	60		—	86		18
Minority interests	—	—	—	—	—	—	—		—	—		—
Redeemable OP units at redemption value	—	—	—	—	—	—	—		—	—		—
Partners’ capital - Common OP units	—	4,976	—	—	—	20,475	6,003		—	26,741		78,745
	—	4,976	—	—	—	20,475	6,063		—	26,827		78,763

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Balance Sheet

June 30, 2005

Unaudited

(Dollars in thousands)

	MeriStar Sub 7B, L.P.	MeriStar Sub 7D, LLC		MeriStar Sub 7G, LLC	MeriStar Sub 6B, LLC		MeriStar Sub 4I, L.P.	MeriStar Sub 5D, LLC		MeriStar Sub 5H, LLC	MeriStar Sub 7H, LLC	AGH PSS I, Inc.	MeriStar Sub 2D, LLC
Assets
Property and equipment	—	56,182		—	12,203		—	42,549		—	—	—	—
Accumulated depreciation	—	(11,927	)	—	(2,838	)	—	(10,211	)	—	—	—	—
	—	44,255		—	9,365		—	32,338		—	—	—	—
Assets held for sale	—	—		—	—		—	—		—	—	—	—
Investments in and advances to unconsolidated affiliates	—	—		—	—		—	51,368		—	—	—	—
Due to/from subsidiaries	—	27,569		2,370	3,297		—	(6,058	)	—	—	—	—
Note receivable from subsidiaries	—	—		—	—		—	—		—	—	—	—
Prepaid expenses and other assets	—	98		—	—		—	17		—	—	—	—
Insurance claim receivable	—	—		—	—		—	—		—	—	—	—
Accounts receivable, net of allowance for doubtful accounts	—	1,607		—	—		—	—		—	—	—	—
Restricted cash	—	—		—	—		—	—		—	—	—	—
Cash and cash equivalents	—	—		—	—		—	—		—	—	—	—
	—	73,529		2,370	12,662		—	77,665		—	—	—	—
Liabilities and Partners’ Capital
Long-term debt	—	—		—	—		—	24,000		—	—	—	—
Notes payable to MeriStar Hospitality Corporation	—	—		—	—		—	—		—	—	—	—
Accounts payable and accrued expenses	—	2,434		—	14		—	304		—	—	—	—
Accrued interest	—	—		—	—		—	—		—	—	—	—
Due to Interstate Hotels & Resorts	—	(200	)	—	—		—	—		—	—	—	—
Other liabilities	—	—		—	—		—	—		—	—	—	—
Total liabilities	—	2,234		—	14		—	24,304		—	—	—	—
Minority interests	—	—		—	—		—	—		—	—	—	—
Redeemable OP units at redemption value	—	—		—	—		—	—		—	—	—	—
Partners’ capital - Common OP units	—	71,295		2,370	12,648		—	53,361		—	—	—	—
	—	73,529		2,370	12,662		—	77,665		—	—	—	—

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Balance Sheet

June 30, 2005

Unaudited

(Dollars in thousands)

	MeriStar Sub 4F, L.P.		MeriStar Sub 5K, LLC	MeriStar Sub 5M, LLC		MeriStar Sub 1E, LLC	MeriStar Sub 5O, LLC		MeriStar Sub 4B, L.P.	MeriStar Sub 2C, LLC		MeriStar Sub 4G, L.P.		MeriStar Sub 3B, LLC	MeriStar Sub 5G, L.P.
Assets
Property and equipment	35,916		—	21,656		—	9,333		—	—		—		—	172,607
Accumulated depreciation	(7,425	)	—	(1,741	)	—	(913	)	—	—		(1	)	—	(38,824	)
	28,491		—	19,915		—	8,420		—	—		(1	)	—	133,783
Assets held for sale	—		—	—		—	—		—	—		—		—	—
Investments in and advances to unconsolidated affiliates	—		—	—		—	—		—	—		—		—	—
Due to/from subsidiaries	4,168		21,531	8,785		—	2,538		—	(2,360	)	16,930		—	47,470
Note receivable from subsidiaries	—		—	—		—	—		—	—		—		—	—
Prepaid expenses and other assets	28		—	—		—	—		—	—		—		—	290
Insurance claim receivable	—		—	—		—	—		—	—		—		—	—
Accounts receivable, net of allowance for doubtful accounts	—		—	—		—	—		—	—		—		—	—
Restricted cash	—		—	—		—	—		—	—		—		—	—
Cash and cash equivalents	—		—	—		—	—		—	—		—		—	—
	32,687		21,531	28,700		—	10,958		—	(2,360	)	16,929		—	181,543
Liabilities and Partners’ Capital
Long-term debt	—		—	—		—	—		—	—		—		—	—
Notes payable to MeriStar Hospitality Corporation	—		—	—		—	—		—	—		—		—	—
Accounts payable and accrued expenses	162		—	103		—	37		—	—		—		—	571
Accrued interest	—		—	—		—	—		—	—		—		—	—
Due to Interstate Hotels & Resorts	—		—	—		—	—		—	—		—		—	—
Other liabilities	—		—	—		—	—		—	—		—		—	—
Total liabilities	162		—	103		—	37		—	—		—		—	571
Minority interests	—		—	—		—	—		—	—		—		—	—
Redeemable OP units at redemption value	—		—	—		—	—		—	—		—		—	—
Partners’ capital - Common OP units	32,525		21,531	28,597		—	10,921		—	(2,360	)	16,929		—	180,972
	32,687		21,531	28,700		—	10,958		—	(2,360	)	16,929		—	181,543

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Balance Sheet

June 30, 2005

Unaudited

(Dollars in thousands)

	MeriStar Sub 5N, LLC		MeriStar Sub 5P, LLC		MeriStar Sub 5J, LLC		MeriStar Sub 5Q, LLC		MeriStar Sub 5A, LLC		MeriStar Sub 8D, LLC	MeriStar Sub 4J, LLC		Meristar Pentagon City, LLC		MeriStar Sub 6K, LLC	MeriStar Sub 5E, LLC
Assets
Property and equipment	4,883		39		90,379		15,917		37,875		—	43,819		94,148		—	—
Accumulated depreciation	(486	)	(30	)	(16,640	)	(2,558	)	(12,292	)	—	(9,048	)	(6,061	)	—	—
	4,397		9		73,739		13,359		25,583		—	34,771		88,087		—	—
Assets held for sale	—		—		—		—		—		—	—		—		—	—
Investments in and advances to unconsolidated affiliates	—		—		—		—		4,627		—	—		—		—	—
Due to/from subsidiaries	3,795		3,800		40,141		7,044		9,180		—	5,462		62,393		—	—
Note receivable from subsidiaries	—		—		—		—		—		—	—		—		—	—
Prepaid expenses and other assets	—		—		135		—		—		—	—		379		—	—
Insurance claim receivable	—		—		—		—		—		—	—		—		—	—
Accounts receivable, net of allowance for doubtful accounts	—		38		—		—		—		—	(14	)	(908	)	—	—
Restricted cash	—		—		—		—		—		—	—		—		—	—
Cash and cash equivalents	—		—		—		—		—		—	—		—		—	—
	8,192		3,847		114,015		20,403		39,390		—	40,219		149,951		—	—
Liabilities and Partners’ Capital
Long-term debt	—		—		—		—		23,609		—	—		55,150		—	—
Notes payable to MeriStar Hospitality Corporation	—		—		—		—		—		—	—		—		—	—
Accounts payable and accrued expenses	40		—		456		46		467		—	165		865		—	—
Accrued interest	—		—		—		—		—		—	—		267		—	—
Due to Interstate Hotels & Resorts	—		—		—		—		—		—	—		—		—	—
Other liabilities	—		—		—		—		—		—	—		—		—	—
Total liabilities	40		—		456		46		24,076		—	165		56,282		—	—
Minority interests	—		—		—		—		—		—	—		—		—	—
Redeemable OP units at redemption value	—		—		—		—		—		—	—		—		—	—
Partners’ capital - Common OP units	8,152		3,847		113,559		20,357		15,314		—	40,054		93,669		—	—
	8,192		3,847		114,015		20,403		39,390		—	40,219		149,951		—	—

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Balance Sheet

June 30, 2005

Unaudited

(Dollars in thousands)

	MeriStar Sub 6I, LLC	MeriStar Sub 5I, LLC	CapStar Cherry Hill Company, LLC	Meristar Acquisition Company, LLC	MeriStar Sub 6A, LLC	MeriStar Sub 6F, LLC	MeriStar Hotel Lessee, Inc.		Guarantor Eliminations		Guarantor Subsidiaries Total		Eliminations		Total Consolidated
Assets
Property and equipment	—	—	—	—	—	—	3,313		—		1,130,214		—		2,655,676
Accumulated depreciation	—	—	—	—	—	—	(3,384	)	—		(223,727	)	—		(545,023	)
	—	—	—	—	—	—	(71	)	—		906,487		—		2,110,653
Assets held for sale	—	—	—	—	—	—	—		—		5,063		—		5,063
Investments in and advances to unconsolidated affiliates	—	—	—	—	—	—	42,342		(40,712	)	109,764		(2,477,129	)	71,066
Due to/from subsidiaries	—	—	—	—	—	—	58,725		(3,954	)	596,633		—		—
Note receivable from subsidiaries	—	—	—	—	—	—	—		—		—		(266,548	)	—
Prepaid expenses and other assets	—	—	—	—	—	—	9,488		—		11,347		—		32,721
Insurance claim receivable	—	—	—	—	—	—	—		—		—		—		34,458
Accounts receivable, net of allowance for doubtful accounts	—	—	—	—	—	—	40,714		—		41,884		(16,394	)	42,250
Restricted cash	—	—	—	—	—	—	1,617		—		4,631		—		69,317
Cash and cash equivalents	—	—	—	—	—	—	25,361		—		25,361		—		90,967
	—	—	—	—	—	—	178,176		(44,666	)	1,701,170		(2,760,071	)	2,456,495
Liabilities and Partners’ Capital
Long-term debt	—	—	—	—	—	—	218,939		—		359,376		(266,548	)	1,423,033
Notes payable to MeriStar Hospitality Corporation	—	—	—	—	—	—	—		—		—		—		202,552
Accounts payable and accrued expenses	—	—	—	—	—	—	48,105		—		54,664		—		72,369
Accrued interest	—	—	—	—	—	—	16,394		—		16,844		(16,394	)	39,949
Due to Interstate Hotels & Resorts	—	—	—	—	—	—	3,652		—		3,452		—		14,027
Other liabilities	—	—	—	—	—	—	6,338		—		6,480		—		13,288
Total liabilities	—	—	—	—	—	—	293,428		—		440,816		(282,942	)	1,765,218
Minority interests	—	—	—	—	—	—	—		—		—		—		2,416
Redeemable OP units at redemption value	—	—	—	—	—	—	—		—		—		—		19,423
Partners’ capital - Common OP units	—	—	—	—	—	—	(115,252	)	(44,666	)	1,260,354		(2,477,129	)	669,438
	—	—	—	—	—	—	178,176		(44,666	)	1,701,170		(2,760,071	)	2,456,495

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Balance Sheet

December 31, 2004

(Dollars in thousands)

	MeriStar Hospitality OP, L.P.		Non-Guarantor Subsidiaries		MeriStar Lexington Mortgage, LLC	MeriStar Lexington Partners, LLC	MeriStar Sub 7C, LLC	MeriStar Sub 8G, LLC	AGH Upreit, LLC	MeriStar Sub 6H, L.P.		MeriStar Sub 8F, L.P.		MeriStar Sub 8B, LLC
Assets
Property and equipment	22,301		1,476,952		—	—	—	—	—	10,885		13,687		88,943
Accumulated depreciation	(14,642	)	(286,652	)	—	—	—	—	—	(783	)	(3,179	)	(14,741	)
	7,659		1,190,300		—	—	—	—	—	10,102		10,508		74,202
Assets held for sale	—		—		—	—	—	—	—	—		—		—
Investments in and advances to unconsolidated affiliates	2,492,499		7,992		40,661	9,487	32	72	2,989	—		—		—
Due to/from subsidiaries	(1,106,110	)	522,427		1,181	750	—	9	73	7,830		6,748		31,376
Note receivable from subsidiaries	221,704		—		—	—	—	—	—	—		—		—
Prepaid expenses and other assets	31,287		(3,841	)	—	—	—	—	—	(11	)	(81	)	(101	)
Insurance claim receivable	76,056		—		—	—	—	—	—	—		—		—
Accounts receivable, net of allowance for doubtful accounts	9,596		1,054		—	—	—	—	—	—		—		—
Restricted cash	55,754		1,346		—	—	—	—	—	—		—		—
Cash and cash equivalents	41,224		—		—	—	—	—	—	—		—		—
	1,829,669		1,719,278		41,842	10,237	32	81	3,062	17,921		17,175		105,477
Liabilities and Partners’ Capital
Long-term debt	841,976		471,781		—	—	—	—	—	—		—		—
Notes payable to MeriStar Hospitality Corporation	203,977		—		—	—	—	—	—	—		—		—
Accounts payable and accrued expenses	14,777		5,128		—	—	—��	—	—	—		6		—
Accrued interest	38,683		2,214		—	—	—	—	—	—		—		—
Due to Interstate Hotels & Resorts	11,347		—		—	—	—	—	—	—		—		—
Other liabilities	5,382		—		—	—	—	—	—	—		—		—
Total liabilities	1,116,142		479,123		—	—	—	—	—	—		6		—
Minority interests	2,418		—		—	—	—	—	—	—		—		—
Redeemable OP units at redemption value	19,187		—		—	—	—	—	—	—		—		—
Partners’ capital - Common OP units	691,922		1,240,155		41,842	10,237	32	81	3,062	17,921		17,169		105,477
	1,829,669		1,719,278		41,842	10,237	32	81	3,062	17,921		17,175		105,477

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Balance Sheet

December 31, 2004

(Dollars in thousands)

	MeriStar Sub 1C, LLC		MeriStar Sub 8E, LLC		MeriStar Sub 7F, LLC		MeriStar Sub 5L, LLC		MeriStar Sub 3C, LLC		MeriStar Sub 5R, LLC		MeriStar Sub 8A, LLC	MeriStar Sub 6D, LLC		MeriStar Sub 6E, LLC		MeriStar Sub 4E, L.P.
Assets
Property and equipment	27,485		16,028		10,034		11,800		17,581		—		—	18,367		49,971		—
Accumulated depreciation	(7,319	)	(3,618	)	(413	)	(723	)	(4,384	)	—		—	(3,377	)	(11,560	)	(1	)
	20,166		12,410		9,621		11,077		13,197		—		—	14,990		38,411		(1	)
Assets held for sale	—		—		—		—		—		—		—	—		—		—
Investments in and advances to unconsolidated affiliates	—		—		—		—		—		43		—	—		—		—
Due to/from subsidiaries	(4,175	)	7,517		3,135		5,022		6,581		(43	)	—	9,328		22,758		7,015
Note receivable from subsidiaries	—		—		—		—		—		—		—	—		—		—
Prepaid expenses and other assets	(190	)	(26	)	(12	)	(77	)	2		—		—	(21	)	(93	)	—
Insurance claim receivable	—		—		—		—		—		—		—	—		—		—
Accounts receivable, net of allowance for doubtful accounts	—		—		—		—		—		—		—	124		—		64
Restricted cash	—		—		—		—		—		—		—	—		—		—
Cash and cash equivalents	—		—		—		—		—		—		—	—		—		—
	15,801		19,901		12,744		16,022		19,780		—		—	24,421		61,076		7,078
Liabilities and Partners’ Capital
Long-term debt	—		—		—		—		—		—		—	—		—		—
Notes payable to MeriStar Hospitality Corporation	—		—		—		—		—		—		—	—		—		—
Accounts payable and accrued expenses	59		—		153		1		211		—		—	(21	)	(20	)	5
Accrued interest	—		—		—		—		—		—		—	—		—		—
Due to Interstate Hotels & Resorts	—		—		—		—		—		—		—	—		—		—
Other liabilities	—		—		—		—		—		—		—	—		—		—
Total liabilities	59		—		153		1		211		—		—	(21	)	(20	)	5
Minority interests	—		—		—		—		—		—		—	—		—		—
Redeemable OP units at redemption value	—		—		—		—		—		—		—	—		—		—
Partners’ capital - Common OP units	15,742		19,901		12,591		16,021		19,569		—		—	24,442		61,096		7,073
	15,801		19,901		12,744		16,022		19,780		—		—	24,421		61,076		7,078

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Balance Sheet

December 31, 2004

(Dollars in thousands)

	MeriStar Sub 1B, LLC		MeriStar Sub 5F, L.P.		MeriStar Sub 6G, LLC		MeriStar Sub 8C, LLC	MeriStar Sub 4C, L.P.	MeriStar Sub 4H, L.P.	MeriStar Sub 7E, LLC		MeriStar Sub 3D, LLC		MeriStar Sub 1A, LLC		MeriStar Sub 7A Joint Venture
Assets
Property and equipment	20,404		18,560		24,167		—	—	1	20,118		22,986		5,500		—
Accumulated depreciation	(4,557	)	(591	)	(5,738	)	—	—	—	(3,974	)	(7,740	)	(2	)	—
	15,847		17,969		18,429		—	—	1	16,144		15,246		5,498		—
Assets held for sale	—		—		—		—	—	—	—		—		—		—
Investments in and advances to unconsolidated affiliates	—		—		—		—	—	—	—		—		—		—
Due to/from subsidiaries	15,571		12,510		8,688		11,439	—	3,413	6,024		9,411		8,518		9,944
Note receivable from subsidiaries	—		—		—		—	—	—	—		—		—		—
Prepaid expenses and other assets	(83	)	(178	)	(35	)	—	—	—	(22	)	(43	)	(96	)	—
Insurance claim receivable	—		—		—		—	—	—	—		—		—		—
Accounts receivable, net of allowance for doubtful accounts	96		—		—		—	—	—	—		—		—		(44	)
Restricted cash	—		—		—		—	—	—	—		—		—		—
Cash and cash equivalents	—		—		—		—	—	—	—		—		—		—
	31,431		30,301		27,082		11,439	—	3,414	22,146		24,614		13,920		9,900
Liabilities and Partners’ Capital
Long-term debt	33		—		—		—	—	—	—		—		—		—
Notes payable to MeriStar Hospitality Corporation	—		—		—		—	—	—	—		—		—		—
Accounts payable and accrued expenses	(7	)	(4	)	61		—	—	—	88		—		2		—
Accrued interest	—		—		—		—	—	—	—		—		—		—
Due to Interstate Hotels & Resorts	—		—		—		—	—	—	—		—		—		—
Other liabilities	—		—		—		—	—	—	—		—		—		—
Total liabilities	26		(4	)	61		—	—	—	88		—		2		—
Minority interests	—		—		—		—	—	—	—		—		—		—
Redeemable OP units at redemption value	—		—		—		—	—	—	—		—		—		—
Partners’ capital - Common OP units	31,405		30,305		27,021		11,439	—	3,414	22,058		24,614		13,918		9,900
	31,431		30,301		27,082		11,439	—	3,414	22,146		24,614		13,920		9,900

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Balance Sheet

December 31, 2004

(Dollars in thousands)

	MeriStar Sub 2B, LLC	MeriStar Sub 3A, LLC	MeriStar Sub 4A, L.P.	MeriStar Sub 4D, LLC	MeriStar Sub 2A, LLC	MeriStar Sub 6L, LLC	MDV Limited Partnership		MeriStar Sub 5C, LLC	MeriStar Sub 6J, LLC		MeriStar Sub 1D, LLC
Assets
Property and equipment	—	—	—	—	—	—	3,955		—	19,976		69,500
Accumulated depreciation	—	—	—	—	—	—	(840	)	—	(4,320	)	(14,321	)
	—	—	—	—	—	—	3,115		—	15,656		55,179
Assets held for sale	—	—	—	—	—	—	—		—	—		—
Investments in and advances to unconsolidated affiliates	—	—	—	—	—	—	—		—	—		—
Due to/from subsidiaries	—	4,976	7,612	—	—	20,297	2,879		—	9,835		22,849
Note receivable from subsidiaries	—	—	—	—	—	—	—		—	—		—
Prepaid expenses and other assets	—	—	—	—	—	—	(24	)	—	(6	)	(550	)
Insurance claim receivable	—	—	—	—	—	—	—		—	—		—
Accounts receivable, net of allowance for doubtful accounts	—	—	—	—	—	178	—		—	—		—
Restricted cash	—	—	—	—	—	—	—		—	—		—
Cash and cash equivalents	—	—	—	—	—	—	—		—	—		—
	—	4,976	7,612	—	—	20,475	5,970		—	25,485		77,478
Liabilities and Partners’ Capital
Long-term debt	—	—	—	—	—	—	—		—	—		—
Notes payable to MeriStar Hospitality Corporation	—	—	—	—	—	—	—		—	—		—
Accounts payable and accrued expenses	—	—	—	—	—	—	75		—	59		—
Accrued interest	—	—	—	—	—	—	—		—	—		—
Due to Interstate Hotels & Resorts	—	—	—	—	—	—	—		—	—		—
Other liabilities	—	—	—	—	—	—	—		—	—		—
Total liabilities	—	—	—	—	—	—	75		—	59		—
Minority interests	—	—	—	—	—	—	—		—	—		—
Redeemable OP units at redemption value	—	—	—	—	—	—	—		—	—		—
Partners’ capital - Common OP units	—	4,976	7,612	—	—	20,475	5,895		—	25,426		77,478
	—	4,976	7,612	—	—	20,475	5,970		—	25,485		77,478

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Balance Sheet

December 31, 2004

(Dollars in thousands)

	MeriStar Sub 7B, L.P.		MeriStar Sub 7D, LLC		MeriStar Sub 7G, LLC	MeriStar Sub 6B, LLC		MeriStar Sub 4I, L.P.	MeriStar Sub 5D, LLC		MeriStar Sub 5H, LLC	MeriStar Sub 7H, LLC	AGH PSS I, Inc.	MeriStar Sub 2D, LLC
Assets
Property and equipment	—		55,081		—	11,877		—	42,467		—	—	—	—
Accumulated depreciation	—		(11,258	)	—	(2,636	)	—	(9,533	)	—	—	—	—
	—		43,823		—	9,241		—	32,934		—	—	—	—
Assets held for sale	—		—		—	—		—	—		—	—	—	—
Investments in and advances to unconsolidated affiliates	—		—		—	—		—	51,368		—	—	—	—
Due to/from subsidiaries	(262	)	26,640		2,370	2,976		—	(6,151	)	—	—	—	—
Note receivable from subsidiaries	—		—		—	—		—	—		—	—	—	—
Prepaid expenses and other assets	—		46		—	(14	)	—	(77	)	—	—	—	—
Insurance claim receivable	—		—		—	—		—	—		—	—	—	—
Accounts receivable, net of allowance for doubtful accounts	—		1,169		—	—		—	—		—	—	—	—
Restricted cash	—		—		—	—		—	—		—	—	—	—
Cash and cash equivalents	—		—		—	—		—	—		—	—	—	—
	(262	)	71,678		2,370	12,203		—	78,074		—	—	—	—
Liabilities and Partners’ Capital
Long-term debt	—		—		—	—		—	24,000		—	—	—	—
Notes payable to MeriStar Hospitality Corporation	—		—		—	—		—	—		—	—	—	—
Accounts payable and accrued expenses	—		2,381		—	(125	)	—	165		—	—	—	—
Accrued interest	—		—		—	—		—	—		—	—	—	—
Due to Interstate Hotels & Resorts	—		(200	)	—	—		—	—		—	—	—	—
Other liabilities	—		—		—	—		—	—		—	—	—	—
Total liabilities	—		2,181		—	(125	)	—	24,165		—	—	—	—
Minority interests	—		—		—	—		—	—		—	—	—	—
Redeemable OP units at redemption value	—		—		—	—		—	—		—	—	—	—
Partners’ capital - Common OP units	(262	)	69,497		2,370	12,328		—	53,909		—	—	—	—
	(262	)	71,678		2,370	12,203		—	78,074		—	—	—	—

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Balance Sheet

December 31, 2004

(Dollars in thousands)

	MeriStar Sub 4F, L.P.		MeriStar Sub 5K, LLC	MeriStar Sub 5M, LLC		MeriStar Sub 1E, LLC	MeriStar Sub 5O, LLC		MeriStar Sub 4B, L.P.	MeriStar Sub 2C, LLC		MeriStar Sub 4G, L.P.		MeriStar Sub 3B, LLC	MeriStar Sub 5G, L.P.
Assets
Property and equipment	35,341		—	18,969		—	7,263		—	—		—		—	168,827
Accumulated depreciation	(6,923	)	—	(1,607	)	—	(844	)	—	—		(1	)	—	(35,721	)
	28,418		—	17,362		—	6,419		—	—		(1	)	—	133,106
Assets held for sale	—		—	—		—	—		—	—		—		—	—
Investments in and advances to unconsolidated affiliates	—		—	—		—	—		—	—		—		—	—
Due to/from subsidiaries	4,108		21,531	10,741		—	4,524		1,728	(2,360	)	16,930		—	45,208
Note receivable from subsidiaries	—		—	—		—	—		—	—		—		—	—
Prepaid expenses and other assets	(10	)	—	(118	)	—	(39	)	—	—		—		—	(394	)
Insurance claim receivable	—		—	—		—	—		—	—		—		—	—
Accounts receivable, net of allowance for doubtful accounts	—		—	—		—	—		—	—		—		—	—
Restricted cash	—		—	—		—	—		—	—		—		—	—
Cash and cash equivalents	—		—	—		—	—		—	—		—		—	—
	32,516		21,531	27,985		—	10,904		1,728	(2,360	)	16,929		—	177,920
Liabilities and Partners’ Capital
Long-term debt	—		—	—		—	—		—	—		—		—	—
Notes payable to MeriStar Hospitality Corporation	—		—	—		—	—		—	—		—		—	—
Accounts payable and accrued expenses	334		—	—		—	—		—	—		—		—	—
Accrued interest	—		—	—		—	—		—	—		—		—	—
Due to Interstate Hotels & Resorts	—		—	—		—	—		—	—		—		—	—
Other liabilities	—		—	—		—	—		—	—		—		—	—
Total liabilities	334		—	—		—	—		—	—		—		—	—
Minority interests	—		—	—		—	—		—	—		—		—	—
Redeemable OP units at redemption value	—		—	—		—	—		—	—		—		—	—
Partners’ capital - Common OP units	32,182		21,531	27,985		—	10,904		1,728	(2,360	)	16,929		—	177,920
	32,516		21,531	27,985		—	10,904		1,728	(2,360	)	16,929		—	177,920

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Balance Sheet

December 31, 2004

(Dollars in thousands)

	MeriStar Sub 5N, LLC		MeriStar Sub 5P, LLC		MeriStar Sub 5J, LLC		MeriStar Sub 5Q, LLC		MeriStar Sub 5A, LLC		MeriStar Sub 8D, LLC	MeriStar Sub 4J, LLC		Meristar Pentagon City, LLC		MeriStar Sub 6K, LLC	MeriStar Sub 5E, LLC
Assets
Property and equipment	3,580		39		79,579		13,980		37,074		—	41,862		93,264		—	—
Accumulated depreciation	(448	)	(28	)	(14,819	)	(2,312	)	(11,767	)	—	(8,398	)	(3,478	)	—	—
	3,132		11		64,760		11,668		25,307		—	33,464		89,786		—	—
Assets held for sale	—		—		—		—		—		—	—		—		—	—
Investments in and advances to unconsolidated affiliates	—		—		—		—		4,627		—	—		—		—	—
Due to/from subsidiaries	4,988		3,724		51,127		8,187		8,010		16,379	6,370		58,867		—	—
Note receivable from subsidiaries	—		—		—		—		—		—	—		—		—	—
Prepaid expenses and other assets	(45	)	(10	)	(769	)	(137	)	(78	)	—	(51	)	466		—	—
Insurance claim receivable	—		—		—		—		—		—	—		—		—	—
Accounts receivable, net of allowance for doubtful accounts	—		38		—		—		—		359	(14	)	(361	)	—	—
Restricted cash	—		—		—		—		—		—	—		—		—	—
Cash and cash equivalents	—		—		—		—		—		—	—		—		—	—
	8,075		3,763		115,118		19,718		37,866		16,738	39,769		148,758		—	—
Liabilities and Partners’ Capital
Long-term debt	—		—		—		—		23,609		—	—		55,509		—	—
Notes payable to MeriStar Hospitality Corporation	—		—		—		—		—		—	—		—		—	—
Accounts payable and accrued expenses	4		—		126		(18	)	114		—	152		273		—	—
Accrued interest	—		—		—		—		—		—	—		268		—	—
Due to Interstate Hotels & Resorts	—		—		—		—		—		—	—		—		—	—
Other liabilities	—		—		—		—		—		—	—		—		—	—
Total liabilities	4		—		126		(18	)	23,723		—	152		56,050		—	—
Minority interests	—		—		—		—		—		—	—		—		—	—
Redeemable OP units at redemption value	—		—		—		—		—		—	—		—		—	—
Partners’ capital - Common OP units	8,071		3,763		114,992		19,736		14,143		16,738	39,617		92,708		—	—
	8,075		3,763		115,118		19,718		37,866		16,738	39,769		148,758		—	—

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Balance Sheet

December 31, 2004

(Dollars in thousands)

	MeriStar Sub 6I, LLC	MeriStar Sub 5I, LLC	CapStar Cherry Hill Company, LLC	Meristar Acquisition Company, LLC	MeriStar Sub 6A, LLC	MeriStar Sub 6F, LLC	MeriStar Hotel Lessee, Inc.		Guarantor Eliminations		Guarantor Subsidiaries Total		Eliminations		Total Consolidated
Assets
Property and equipment	—	—	—	—	—	—	3,316		—		1,082,467		—		$	2,581,720
Accumulated depreciation	—	—	—	—	—	—	(3,384	)	—		(205,338	)	—			(506,632	)
	—	—	—	—	—	—	(68	)	—		877,129		—			2,075,088
Assets held for sale	—	—	—	—	—	—	—		—		—		—			—
Investments in and advances to unconsolidated affiliates	—	—	—	—	—	—	42,290		(40,661	)	110,908		(2,526,603	)		84,796
Due to/from subsidiaries	—	—	—	—	—	—	40,158		(1,181	)	583,683		—			—
Note receivable from subsidiaries	—	—	—	—	—	—	—		—		—		(221,704	)		—
Prepaid expenses and other assets	—	—	—	—	—	—	9,661		—		6,784		—			34,230
Insurance claim receivable	—	—	—	—	—	—	—		—		—		—			76,056
Accounts receivable, net of allowance for doubtful accounts	—	—	—	—	—	—	30,134		—		31,743		(9,414	)		32,979
Restricted cash	—	—	—	—	—	—	1,313		—		1,313		—			58,413
Cash and cash equivalents	—	—	—	—	—	—	19,309		—		19,309		—			60,533
	—	—	—	—	—	—	142,797		(41,842	)	1,630,869		(2,757,721	)	$	2,422,095
Liabilities and Partners’ Capital
Long-term debt	—	—	—	—	—	—	174,095		—		277,246		(221,704	)	$	1,369,299
Notes payable to MeriStar Hospitality Corporation	—	—	—	—	—	—	—		—		—		—			203,977
Accounts payable and accrued expenses	—	—	—	—	—	—	47,802		—		51,876		—			71,781
Accrued interest	—	—	—	—	—	—	9,414		—		9,682		(9,414	)		41,165
Due to Interstate Hotels & Resorts	—	—	—	—	—	—	10,652		—		10,452		—			21,799
Other liabilities	—	—	—	—	—	—	6,171		—		6,171		—			11,553
Total liabilities	—	—	—	—	—	—	248,134		—		355,427		(231,118	)		1,719,574
Minority interests	—	—	—	—	—	—	—		—		—		—			2,418
Redeemable OP units at redemption value	—	—	—	—	—	—	—		—		—		—			19,187
Partners’ capital - Common OP units	—	—	—	—	—	—	(105,337	)	(41,842	)	1,275,442		(2,526,603	)		680,916
	—	—	—	—	—	—	142,797		(41,842	)	1,630,869		(2,757,721	)	$	2,422,095

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Statement of Operations

Three months ended June 30, 2005

Unaudited

(Dollars in thousands)

	MeriStar Hospitality OP, L.P.		Non-Guarantor Subsidiaries		MeriStar Lexington Mortgage, LLC	MeriStar Lexington Partners, LLC	MeriStar Sub 7C, LLC	MeriStar Sub 8G, LLC	AGH Upreit, LLC	MeriStar Sub 6H, L.P.	MeriStar Sub 8F, L.P.	MeriStar Sub 8B, LLC
Revenue:
Hotel operations:
Rooms	—		—		—	—	—	—	—	—	—	—
Food and beverage	—		—		—	—	—	—	—	—	—	—
Other hotel operations	—		—		—	—	—	—	—	—	—	—
Office rental, parking and other revenue	1		1,164		—	—	—	—	—	—	—	—
Participating lease revenue	—		36,774		—	—	—	—	—	384	714	1,935
Total revenue	1		37,938		—	—	—	—	—	384	714	1,935
Hotel operating expenses:
Rooms	—		—		—	—	—	—	—	—	—	—
Food and beverage	—		—		—	—	—	—	—	—	—	—
Other hotel operating expenses	—		—		—	—	—	—	—	—	—	—
Office rental, parking and other expenses	—		381		—	—	—	—	—	—	—	—
Other operating expenses:
General and administrative, hotel	—		—		—	—	—	—	—	—	—	—
General and administrative, corporate	2,788		—		—	—	—	—	—	—	—	—
Property operating costs	—		—		—	—	—	—	—	—	—	—
Depreciation and amortization	1,862		12,948		—	—	—	—	—	157	164	602
Property taxes, insurance and other	104		4,097		—	—	—	—	—	23	364	191
Loss on asset impairments	—		—		—	—	—	—	—	—	—	—
Operating expenses	4,754		17,426		—	—	—	—	—	180	528	793
Equity in income/loss of and interest earned from unconsolidated affiliates	1,347		—		1,416	177	—	—	—	—	—	—
Hurricane business interruption insurance gain	—		—		—	—	—	—	—	—	—	—
Operating income (loss)	(3,406	)	20,512		1,416	177	—	—	—	204	186	1,142
Minority interest	7		—		—	—	—	—	—	—	—	—
Interest expense, net	(16,209	)	(8,197	)	—	—	—	—	—	—	—	—
Loss on early extinguishments of debt	(947	)	—		—	—	—	—	—	—	—	—
Equity in income from consolidated entities	22,462		—		—	—	—	—	—	—	—	—
(Loss) income before income taxes and discontinued operations	1,907		12,315		1,416	177	—	—	—	204	186	1,142
Income tax (expense) benefit	(287	)	—		—	—	—	—	—	—	—	—
(Loss) income from continuing operations	1,620		12,315		1,416	177	—	—	—	204	186	1,142
Discontinued operations:
(Loss) income from discontinued operations before income tax	(206	)	(2,445	)	—	—	—	—	—	—	—	—
Income tax (expense) benefit	—		—		—	—	—	—	—	—	—	—
(Loss) income from discontinued operations	(206	)	(2,445	)	—	—	—	—	—	—	—	—
Net (loss) income	1,414		9,870		1,416	177	—	—	—	204	186	1,142

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Statement of Operations

Three months ended June 30, 2005

Unaudited

(Dollars in thousands)

	MeriStar Sub 1C, LLC		MeriStar Sub 8E, LLC	MeriStar Sub 7F, LLC	MeriStar Sub 5L, LLC	MeriStar Sub 3C, LLC	MeriStar Sub 5R, LLC	MeriStar Sub 8A, LLC	MeriStar Sub 6D, LLC	MeriStar Sub 6E, LLC		MeriStar Sub 4E, L.P.
Revenue:
Hotel operations:
Rooms	—		—	—	—	—	—	—	—	—		—
Food and beverage	—		—	—	—	—	—	—	—	—		—
Other hotel operations	—		—	—	—	—	—	—	—	—		—
Office rental, parking and other revenue	—		6	—	—	—	—	—	10	(3	)	—
Participating lease revenue	244		386	365	172	534	—	—	812	1,993		—
Total revenue	244		392	365	172	534	—	—	822	1,990		—
Hotel operating expenses:
Rooms	—		—	—	—	—	—	—	—	—		—
Food and beverage	—		—	—	—	—	—	—	—	—		—
Other hotel operating expenses	—		—	—	—	—	—	—	—	—		—
Office rental, parking and other expenses	20		—	—	—	—	—	—	—	4		—
Other operating expenses:
General and administrative, hotel	—		—	—	—	—	—	—	—	—		—
General and administrative, corporate	—		—	—	—	—	—	—	—	—		—
Property operating costs	—		—	—	—	—	—	—	—	—		—
Depreciation and amortization	260		138	94	41	155	—	—	105	322		—
Property taxes, insurance and other	178		37	28	41	90	—	—	79	141		—
Loss on asset impairments	—		—	—	—	—	—	—	—	—		—
Operating expenses	458		175	122	82	245	—	—	184	467		—
Equity in income/loss of and interest earned from unconsolidated affiliates	—		—	—	—	—	—	—	—	—		—
Hurricane business interruption insurance gain	—		—	—	—	—	—	—	—	—		—
Operating income (loss)	(214	)	217	243	90	289	—	—	638	1,523		—
Minority interest	—		—	—	—	—	—	—	—	—		—
Interest expense, net	—		—	—	—	—	—	—	—	(718	)	—
Loss on early extinguishments of debt	—		—	—	—	—	—	—	—	—		—
Equity in income from consolidated entities	—		—	—	—	—	—	—	—	—		—
(Loss) income before income taxes and discontinued operations	(214	)	217	243	90	289	—	—	638	805		—
Income tax (expense) benefit	—		—	—	—	—	—	—	—	—		—
(Loss) income from continuing operations	(214	)	217	243	90	289	—	—	638	805		—
Discontinued operations:
(Loss) income from discontinued operations before income tax	—		—	—	—	—	—	—	—	—		—
Income tax (expense) benefit	—		—	—	—	—	—	—	—	—		—
(Loss) income from discontinued operations	—		—	—	—	—	—	—	—	—		—
Net (loss) income	(214	)	217	243	90	289	—	—	638	805		—

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Statement of Operations

Three months ended June 30, 2005

Unaudited

(Dollars in thousands)

	MeriStar Sub 1B, LLC	MeriStar Sub 5F, L.P.	MeriStar Sub 6G, LLC	MeriStar Sub 8C, LLC	MeriStar Sub 4C, L.P.	MeriStar Sub 4H, L.P.	MeriStar Sub 7E, LLC	MeriStar Sub 3D, LLC	MeriStar Sub 1A, LLC		MeriStar Sub 7A Joint Venture
Revenue:
Hotel operations:
Rooms	—	—	—	—	—	—	—	—	—		—
Food and beverage	—	—	—	—	—	—	—	—	—		—
Other hotel operations	—	—	—	—	—	—	—	—	—		—
Office rental, parking and other revenue	—	—	—	—	—	—	—	—	—		—
Participating lease revenue	649	616	1,194	—	—	—	358	481	—		—
Total revenue	649	616	1,194	—	—	—	358	481	—		—
Hotel operating expenses:
Rooms	—	—	—	—	—	—	—	—	—		—
Food and beverage	—	—	—	—	—	—	—	—	—		—
Other hotel operating expenses	—	—	—	—	—	—	—	—	—		—
Office rental, parking and other expenses	—	—	—	—	—	—	—	—	—		—
Other operating expenses:
General and administrative, hotel	—	—	—	—	—	—	—	—	—		—
General and administrative, corporate	—	—	—	—	—	—	—	—	—		—
Property operating costs	—	—	—	—	—	—	—	—	—		—
Depreciation and amortization	149	154	171	—	—	—	123	161	—		—
Property taxes, insurance and other	53	117	100	—	—	—	49	32	—		—
Loss on asset impairments	—	—	—	—	—	—	—	—	—		—
Operating expenses	202	271	271	—	—	—	172	193	—		—
Equity in income/loss of and interest earned from unconsolidated affiliates	—	—	—	—	—	—	—	—	—		—
Hurricane business interruption insurance gain	—	—	—	—	—	—	—	—	—		—
Operating income (loss)	447	345	923	—	—	—	186	288	—		—
Minority interest	—	—	—	—	—	—	—	—	—		—
Interest expense, net	—	—	—	—	—	—	—	—	—		—
Loss on early extinguishments of debt	—	—	—	—	—	—	—	—	—		—
Equity in income from consolidated entities	—	—	—	—	—	—	—	—	—		—
(Loss) income before income taxes and discontinued operations	447	345	923	—	—	—	186	288	—		—
Income tax (expense) benefit	—	—	—	—	—	—	—	—	—		—
(Loss) income from continuing operations	447	345	923	—	—	—	186	288	—		—
Discontinued operations:
(Loss) income from discontinued operations before income tax	—	—	—	—	—	—	—	—	(104	)	—
Income tax (expense) benefit	—	—	—	—	—	—	—	—	—		—
(Loss) income from discontinued operations	—	—	—	—	—	—	—	—	(104	)	—
Net (loss) income	447	345	923	—	—	—	186	288	(104	)	—

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Statement of Operations

Three months ended June 30, 2005

Unaudited

(Dollars in thousands)

	MeriStar Sub 2B, LLC	MeriStar Sub 3A, LLC		MeriStar Sub 4A, L.P.	MeriStar Sub 4D, LLC	MeriStar Sub 2A, LLC	MeriStar Sub 6L, LLC	MDV Limited Partnership	MeriStar Sub 5C, LLC	MeriStar Sub 6J, LLC	MeriStar Sub 1D, LLC
Revenue:
Hotel operations:
Rooms	—	—		—	—	—	—	—	—	—	—
Food and beverage	—	—		—	—	—	—	—	—	—	—
Other hotel operations	—	—		—	—	—	—	—	—	—	—
Office rental, parking and other revenue	—	—		—	—	—	—	—	—	—	2
Participating lease revenue	—	—		—	—	—	—	135	—	948	1,550
Total revenue	—	—		—	—	—	—	135	—	948	1,552
Hotel operating expenses:
Rooms	—	—	��	—	—	—	—	—	—	—	—
Food and beverage	—	—		—	—	—	—	—	—	—	—
Other hotel operating expenses	—	—		—	—	—	—	—	—	—	—
Office rental, parking and other expenses	—	—		—	—	—	—	—	—	—	29
Other operating expenses:
General and administrative, hotel	—	—		—	—	—	—	—	—	—	—
General and administrative, corporate	—	—		—	—	—	—	—	—	—	—
Property operating costs	—	—		—	—	—	—	—	—	—	—
Depreciation and amortization	—	—		—	—	—	—	49	—	111	459
Property taxes, insurance and other	—	—		—	—	—	—	32	—	76	375
Loss on asset impairments	—	—		—	—	—	—	—	—	—	—
Operating expenses	—	—		—	—	—	—	81	—	187	863
Equity in income/loss of and interest earned from unconsolidated affiliates	—	—		—	—	—	—	—	—	—	—
Hurricane business interruption insurance gain	—	—		—	—	—	—	—	—	—	—
Operating income (loss)	—	—		—	—	—	—	54	—	761	689
Minority interest	—	—		—	—	—	—	—	—	—	—
Interest expense, net	—	—		—	—	—	—	—	—	—	—
Loss on early extinguishments of debt	—	—		—	—	—	—	—	—	—	—
Equity in income from consolidated entities	—	—		—	—	—	—	—	—	—	—
(Loss) income before income taxes and discontinued operations	—	—		—	—	—	—	54	—	761	689
Income tax (expense) benefit	—	—		—	—	—	—	—	—	—	—
(Loss) income from continuing operations	—	—		—	—	—	—	54	—	761	689
Discontinued operations:
(Loss) income from discontinued operations before income tax	—	—		—	—	—	—	—	—	—	—
Income tax (expense) benefit	—	—		—	—	—	—	—	—	—	—
(Loss) income from discontinued operations	—	—		—	—	—	—	—	—	—	—
Net (loss) income	—	—		—	—	—	—	54	—	761	689

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Statement of Operations

Three months ended June 30, 2005

Unaudited

(Dollars in thousands)

	MeriStar Sub 7B, L.P.	MeriStar Sub 7D, LLC	MeriStar Sub 7G, LLC	MeriStar Sub 6B, LLC	MeriStar Sub 4I, L.P.	MeriStar Sub 5D, LLC		MeriStar Sub 5H, LLC	MeriStar Sub 7H, LLC	AGH PSS I, Inc.	MeriStar Sub 2D, LLC
Revenue:
Hotel operations:
Rooms	—	—	—	—	—	—		—	—	—	—
Food and beverage	—	—	—	—	—	—		—	—	—	—
Other hotel operations	—	—	—	—	—	—		—	—	—	—
Office rental, parking and other revenue	—	—	—	—	—	—		—	—	—	—
Participating lease revenue	—	1,861	—	375	—	695		—	—	—	—
Total revenue	—	1,861	—	375	—	695		—	—	—	—
Hotel operating expenses:
Rooms	—	—	—	—	—	—		—	—	—	—
Food and beverage	—	—	—	—	—	—		—	—	—	—
Other hotel operating expenses	—	—	—	—	—	—		—	—	—	—
Office rental, parking and other expenses	—	203	—	—	—	—		—	—	—	—
Other operating expenses:
General and administrative, hotel	—	—	—	—	—	—		—	—	—	—
General and administrative, corporate	—	—	—	—	—	—		—	—	—	—
Property operating costs	—	—	—	—	—	—		—	—	—	—
Depreciation and amortization	—	353	—	89	—	336		—	—	—	—
Property taxes, insurance and other	—	386	—	83	—	82		—	—	—	—
Loss on asset impairments	—	—	—	—	—	—		—	—	—	—
Operating expenses	—	942	—	172	—	418		—	—	—	—
Equity in income/loss of and interest earned from unconsolidated affiliates	—	—	—	—	—	—		—	—	—	—
Hurricane business interruption insurance gain	—	—	—	—	—	—		—	—	—	—
Operating income (loss)	—	919	—	203	—	277		—	—	—	—
Minority interest	—	—	—	—	—	—		—	—	—	—
Interest expense, net	—	—	—	—	—	(429	)	—	—	—	—
Loss on early extinguishments of debt	—	—	—	—	—	—		—	—	—	—
Equity in income from consolidated entities	—	—	—	—	—	—		—	—	—	—
(Loss) income before income taxes and discontinued operations	—	919	—	203	—	(152	)	—	—	—	—
Income tax (expense) benefit	—	—	—	—	—	—		—	—	—	—
(Loss) income from continuing operations	—	919	—	203	—	(152	)	—	—	—	—
Discontinued operations:
(Loss) income from discontinued operations before income tax	—	—	—	—	—	—		—	—	—	—
Income tax (expense) benefit	—	—	—	—	—	—		—	—	—	—
(Loss) income from discontinued operations	—	—	—	—	—	—		—	—	—	—
Net (loss) income	—	919	—	203	—	(152	)	—	—	—	—

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Statement of Operations

Three months ended June 30, 2005

Unaudited

(Dollars in thousands)

	MeriStar Sub 4F, L.P.	MeriStar Sub 5K, LLC	MeriStar Sub 5M, LLC	MeriStar Sub 1E, LLC	MeriStar Sub 5O, LLC	MeriStar Sub 4B, L.P.	MeriStar Sub 2C, LLC	MeriStar Sub 4G, L.P.	MeriStar Sub 3B, LLC	MeriStar Sub 5G, L.P.
Revenue:
Hotel operations:
Rooms	—	—	—	—	—	—	—	—	—	—
Food and beverage	—	—	—	—	—	—	—	—	—	—
Other hotel operations	—	—	—	—	—	—	—	—	—	—
Office rental, parking and other revenue	4	—	—	—	—	—	—	—	—	3
Participating lease revenue	510	—	386	—	105	—	—	—	—	2,989
Total revenue	514	—	386	—	105	—	—	—	—	2,992
Hotel operating expenses:
Rooms	—	—	—	—	—	—	—	—	—	—
Food and beverage	—	—	—	—	—	—	—	—	—	—
Other hotel operating expenses	—	—	—	—	—	—	—	—	—	—
Office rental, parking and other expenses	—	—	—	—	—	—	—	—	—	—
Other operating expenses:
General and administrative, hotel	—	—	—	—	—	—	—	—	—	—
General and administrative, corporate	—	—	—	—	—	—	—	—	—	—
Property operating costs	—	—	—	—	—	—	—	—	—	—
Depreciation and amortization	220	—	67	—	35	—	—	—	—	1,551
Property taxes, insurance and other	83	—	26	—	18	—	—	—	—	491
Loss on asset impairments	—	—	—	—	—	—	—	—	—	—
Operating expenses	303	—	93	—	53	—	—	—	—	2,042
Equity in income/loss of and interest earned from unconsolidated affiliates	—	—	—	—	—	—	—	—	—	—
Hurricane business interruption insurance gain	—	—	—	—	—	—	—	—	—	—
Operating income (loss)	211	—	293	—	52	—	—	—	—	950
Minority interest	—	—	—	—	—	—	—	—	—	—
Interest expense, net	—	—	—	—	—	—	—	—	—	—
Loss on early extinguishments of debt	—	—	—	—	—	—	—	—	—	—
Equity in income from consolidated entities	—	—	—	—	—	—	—	—	—	—
(Loss) income before income taxes and discontinued operations	211	—	293	—	52	—	—	—	—	950
Income tax (expense) benefit	—	—	—	—	—	—	—	—	—	—
(Loss) income from continuing operations	211	—	293	—	52	—	—	—	—	950
Discontinued operations:
(Loss) income from discontinued operations before income tax	—	—	—	—	—	—	—	—	—	—
Income tax (expense) benefit	—	—	—	—	—	—	—	—	—	—
(Loss) income from discontinued operations	—	—	—	—	—	—	—	—	—	—
Net (loss) income	211	—	293	—	52	—	—	—	—	950

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Statement of Operations

Three months ended June 30, 2005

Unaudited

(Dollars in thousands)

	MeriStar Sub 5N, LLC	MeriStar Sub 5P, LLC	MeriStar Sub 5J, LLC		MeriStar Sub 5Q, LLC	MeriStar Sub 5A, LLC		MeriStar Sub 8D, LLC	MeriStar Sub 4J, LLC	Meristar Pentagon City, LLC		MeriStar Sub 6K, LLC	MeriStar Sub 5E, LLC
Revenue:
Hotel operations:
Rooms	—	—	—		—	—		—	—	—		—	—
Food and beverage	—	—	—		—	—		—	—	—		—	—
Other hotel operations	—	—	—		—	—		—	—	—		—	—
Office rental, parking and other revenue	—	—	—		—	24		—	1	—		—	—
Participating lease revenue	137	5	—		433	1,780		—	864	3,389		—	—
Total revenue	137	5	—		433	1,804		—	865	3,389		—	—
Hotel operating expenses:
Rooms	—	—	—		—	—		—	—	—		—	—
Food and beverage	—	—	—		—	—		—	—	—		—	—
Other hotel operating expenses	—	—	—		—	—		—	—	—		—	—
Office rental, parking and other expenses	—	—	—		—	—		—	113	—		—	—
Other operating expenses:
General and administrative, hotel	—	—	—		—	—		—	—	—		—	—
General and administrative, corporate	—	—	—		—	—		—	—	—		—	—
Property operating costs	—	—	—		—	—		—	—	—		—	—
Depreciation and amortization	19	1	910		123	255		—	332	1,297		—	—
Property taxes, insurance and other	19	3	(69	)	—	194		—	80	504		—	—
Loss on asset impairments	—	—	—		—	—		—	—	—		—	—
Operating expenses	38	4	841		123	449		—	525	1,801		—	—
Equity in income/loss of and interest earned from unconsolidated affiliates	—	—	—		—	—		—	—	—		—	—
Hurricane business interruption insurance gain	—	—	—		—	—		—	—	—		—	—
Operating income (loss)	99	1	(841	)	310	1,355		—	340	1,588		—	—
Minority interest	—	—	—		—	—		—	—	—		—	—
Interest expense, net	—	—	—		—	(709	)	—	—	(801	)	—	—
Loss on early extinguishments of debt	—	—	—		—	—		—	—	—		—	—
Equity in income from consolidated entities	—	—	—		—	—		—	—	—		—	—
(Loss) income before income taxes and discontinued operations	99	1	(841	)	310	646		—	340	787		—	—
Income tax (expense) benefit	—	—	—		—	—		—	—	—		—	—
(Loss) income from continuing operations	99	1	(841	)	310	646		—	340	787		—	—
Discontinued operations:
(Loss) income from discontinued operations before income tax	—	—	—		—	—		—	—	—		—	—
Income tax (expense) benefit	—	—	—		—	—		—	—	—		—	—
(Loss) income from discontinued operations	—	—	—		—	—		—	—	—		—	—
Net (loss) income	99	1	(841	)	310	646		—	340	787		—	—

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Statement of Operations

Three months ended June 30, 2005

Unaudited

(Dollars in thousands)

	MeriStar Sub 6I, LLC	MeriStar Sub 5I, LLC	CapStar Cherry Hill Company, LLC	Meristar Acquisition Company, LLC	MeriStar Sub 6A, LLC	MeriStar Sub 6F, LLC	MeriStar Hotel Lessee, Inc.		Guarantor Eliminations		Guarantor Subsidiaries Total		Eliminations		Total Consolidated
Revenue:
Hotel operations:
Rooms	—	—	—	—	—	—	142,908		—		142,908		—		142,908
Food and beverage	—	—	—	—	—	—	61,006		—		61,006		—		61,006
Other hotel operations	—	—	—	—	—	—	11,815		—		11,815		—		11,815
Office rental, parking and other revenue	—	—	—	—	—	—	—		—		47		—		1,212
Participating lease revenue	—	—	—	—	—	—	—		—		26,999		(63,773	)	—
Total revenue	—	—	—	—	—	—	215,729		—		242,775		(63,773	)	216,941
Hotel operating expenses:
Rooms	—	—	—	—	—	—	33,785		—		33,785		—		33,785
Food and beverage	—	—	—	—	—	—	40,903		—		40,903		—		40,903
Other hotel operating expenses	—	—	—	—	—	—	7,623		—		7,623		—		7,623
Office rental, parking and other expenses	—	—	—	—	—	—	(138	)	—		231		—		612
Other operating expenses:
General and administrative, hotel	—	—	—	—	—	—	31,771		—		31,771		—		31,771
General and administrative, corporate	—	—	—	—	—	—	40		—		40		—		2,828
Property operating costs	—	—	—	—	—	—	31,294		—		31,294		—		31,294
Depreciation and amortization	—	—	—	—	—	—	—		—		9,003		—		23,813
Property taxes, insurance and other	—	—	—	—	—	—	67,764		—		71,670		(63,773	)	12,098
Loss on asset impairments	—	—	—	—	—	—	—		—		—		—		—
Operating expenses	—	—	—	—	—	—	213,042		—		226,320		(63,773	)	184,727
Equity in income/loss of and interest earned from unconsolidated affiliates	—	—	—	—	—	—	1,416		(1,416	)	1,593		—		2,940
Hurricane business interruption insurance gain	—	—	—	—	—	—	2,009		—		2,009		—		2,009
Operating income (loss)	—	—	—	—	—	—	6,112		(1,416	)	20,057		—		37,163
Minority interest	—	—	—	—	—	—	—		—		—		—		7
Interest expense, net	—	—	—	—	—	—	(3,635	)	—		(6,292	)	—		(30,698	)
Loss on early extinguishments of debt	—	—	—	—	—	—	—		—		—		—		(947	)
Equity in income from consolidated entities	—	—	—	—	—	—	—		—		—		(22,462	)	—
(Loss) income before income taxes and discontinued operations	—	—	—	—	—	—	2,477		(1,416	)	13,765		(22,462	)	5,525
Income tax (expense) benefit	—	—	—	—	—	—	(115	)	—		(115	)	—		(402	)
(Loss) income from continuing operations	—	—	—	—	—	—	2,362		(1,416	)	13,650		(22,462	)	5,123
Discontinued operations:
(Loss) income from discontinued operations before income tax	—	—	—	—	—	—	(954	)	—		(1,058	)	—		(3,709	)
Income tax (expense) benefit	—	—	—	—	—	—	—		—		—		—		—
(Loss) income from discontinued operations	—	—	—	—	—	—	(954	)	—		(1,058	)	—		(3,709	)
Net (loss) income	—	—	—	—	—	—	1,408		(1,416	)	12,592		(22,462	)	1,414

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Statement of Operations

Three months ended June 30, 2004

Unaudited

(Dollars in thousands)

	MeriStar Hospitality OP, L.P.		Non- Guarantor Subsidiaries		MeriStar Sub 7C, LLC	MeriStar Sub 8G, LLC	AGH Upreit, LLC	MeriStar Sub 6H, L.P.	MeriStar Sub 8F, L.P.	MeriStar Sub 8B, LLC	MeriStar Sub 1C, LLC		MeriStar Sub 8E, LLC
Revenue:
Hotel operations:
Rooms	—		—		—	—	—	—	—	—	—		—
Food and beverage	—		—		—	—	—	—	—	—	—		—
Other hotel operations	—		—		—	—	—	—	—	—	—		—
Office rental parking and other revenue	22		663		—	—	—	—	—	—	—		7
Participating lease revenue	—		35,720		—	—	—	373	601	1,863	304		371
Total revenue	22		36,383		—	—	—	373	601	1,863	304		378
Hotel operating expenses:
Rooms	—		—		—	—	—	—	—	—	—		—
Food and beverage	—		—		—	—	—	—	—	—	—		—
Other operating departments	—		—		—	—	—	—	—	—	—		—
Office rental, parking and other expenses	—		271		—	—	—	—	—	—	—		—
Other operating expenses:
General and administrative, hotel	—		21		—	—	—	—	—	—	—		—
General and administrative, corporate	3,185		—		—	—	—	—	—	—	—		—
Property operating costs	—		(187	)	—	—	—	—	—	—	—		—
Depreciation and amortization	2,860		12,009		—	—	—	156	165	602	341		149
Property taxes, insurance and other	(356	)	6,609		—	—	—	26	182	250	169		22
Loss on asset impairments	—		310		—	—	—	—	—	—	—		—
Operating expenses	5,689		19,033		—	—	—	182	347	852	510		171
Equity in income/loss of and interest earned from unconsolidated affiliates	1,600		—		—	—	—	—	—	—	—		—
Hurricane business interruption insurance gain	—		—		—	—	—	—	—	—	—		—
Operating income (loss)	(4,067	)	17,350		—	—	—	191	254	1,011	(206	)	207
Minority interest	20		—		—	—	—	—	—	—	—		—
Interest expense, net	(18,895	)	(8,253	)	—	—	—	—	—	—	—		—
Loss on early extinguishments of debt	(1,980	)	—		—	—	—	—	—	—	—		—
Equity in income from consolidated entities	12,880		—		—	—	—	—	—	—	—		—
(Loss) income before income taxes and discontinued operations	(12,042	)	9,097		—	—	—	191	254	1,011	(206	)	207
Income tax (expense) benefit	(12	)	—		—	—	—	—	—	—	—		—
(Loss) income from continuing operations	(12,054	)	9,097		—	—	—	191	254	1,011	(206	)	207
Discontinued operations:
(Loss) income from discontinued operations before income tax	(29	)	2,385		—	—	—	—	—	—	—		—
Income tax (expense) benefit	32		—		—	—	—	—	—	—	—		—
(Loss) income from discontinued operations	3		2,385		—	—	—	—	—	—	—		—
Net (loss) income	(12,051	)	11,482		—	—	—	191	254	1,011	(206	)	207

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Statement of Operations

Three months ended June 30, 2004

Unaudited

(Dollars in thousands)

	MeriStar Sub 7F, LLC	MeriStar Sub 5L, LLC	MeriStar Sub 3C, LLC	MeriStar Sub 5R, LLC	MeriStar SUB 8A, LLC	MeriStar Sub 6D, LLC	MeriStar Sub 6E, LLC	MeriStar Sub 4E, L.P.		MeriStar Sub 1B, LLC		MeriStar Sub 5F, L.P.
Revenue:
Hotel operations:
Rooms	—	—	—	—	—	—	—	—		—		—
Food and beverage	—	—	—	—	—	—	—	—		—		—
Other hotel operations	—	—	—	—	—	—	—	—		—		—
Office rental parking and other revenue	—	—	—	—	—	41	—	—		(4	)	—
Participating lease revenue	305	253	432	—	—	582	1,594	—		519		737
Total revenue	305	253	432	—	—	623	1,594	—		515		737
Hotel operating expenses:
Rooms	—	—	—	—	—	—	—	—		—		—
Food and beverage	—	—	—	—	—	—	—	—		—		—
Other operating departments	—	—	—	—	—	—	—	—		—		—
Office rental, parking and other expenses	—	—	—	—	—	—	—	—		—		—
Other operating expenses:
General and administrative, hotel	—	—	—	—	—	—	—	—		—		—
General and administrative, corporate	—	—	—	—	—	—	—	—		—		—
Property operating costs	—	—	—	—	—	—	—	—		—		—
Depreciation and amortization	73	39	178	—	—	136	415	—		121		195
Property taxes, insurance and other	32	36	93	—	—	74	135	—		8		89
Loss on asset impairments	—	—	—	—	—	—	—	—		—		—
Operating expenses	105	75	271	—	—	210	550	—		129		284
Equity in income/loss of and interest earned from unconsolidated affiliates	—	—	—	—	—	—	—	—		—		—
Hurricane business interruption insurance gain	—	—	—	—	—	—	—	—		—		—
Operating income (loss)	200	178	161	—	—	413	1,044	—		386		453
Minority interest	—	—	—	—	—	—	—	—		—		—
Interest expense, net	—	—	—	—	—	—	—	—		—		—
Loss on early extinguishments of debt	—	—	—	—	—	—	—	—		—		—
Equity in income from consolidated entities	—	—	—	—	—	—	—	—		—		—
(Loss) income before income taxes and discontinued operations	200	178	161	—	—	413	1,044	—		386		453
Income tax (expense) benefit	—	—	—	—	—	—	—	—		—		—
(Loss) income from continuing operations	200	178	161	—	—	413	1,044	—		386		453
Discontinued operations:
(Loss) income from discontinued operations before income tax	—	—	—	—	—	—	—	(886	)	—		—
Income tax (expense) benefit	—	—	—	—	—	—	—	—		—		—
(Loss) income from discontinued operations	—	—	—	—	—	—	—	(886	)	—		—
Net (loss) income	200	178	161	—	—	413	1,044	(886	)	386		453

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Statement of Operations

Three months ended June 30, 2004

Unaudited

(Dollars in thousands)

	MeriStar Sub 6G, LLC	MeriStar Sub 8C, LLC	MeriStar Sub 4C, L.P.	MeriStar Sub 4H, L.P.	MeriStar Sub 7E, LLC	MeriStar Sub 3D, LLC	MeriStar Sub 1A, LLC		MeriStar Sub 7A Joint Venture		MeriStar Sub 2B, LLC	MeriStar Sub 3A, LLC
Revenue:
Hotel operations:
Rooms	—	—	—	—	—	—	—		—		—	—
Food and beverage	—	—	—	—	—	—	—		—		—	—
Other hotel operations	—	—	—	—	—	—	—		—		—	—
Office rental parking and other revenue	—	—	—	—	—	—	—		—		—	—
Participating lease revenue	1,084	—	—	—	344	378	—		—		—	—
Total revenue	1,084	—	—	—	344	378	—		—		—	—
Hotel operating expenses:
Rooms	—	—	—	—	—	—	—		—		—	—
Food and beverage	—	—	—	—	—	—	—		—		—	—
Other operating departments	—	—	—	—	—	—	—		—		—	—
Office rental, parking and other expenses	—	—	—	—	—	—	—		—		—	—
Other operating expenses:
General and administrative, hotel	—	—	—	—	—	—	—		—		—	—
General and administrative, corporate	—	—	—	—	—	—	—		—		—	—
Property operating costs	—	—	—	—	—	—	—		—		—	—
Depreciation and amortization	153	—	—	—	161	190	—		—		—	—
Property taxes, insurance and other	92	—	—	—	48	61	—		—		—	—
Loss on asset impairments	—	—	—	—	—	—	—		—		—	—
Operating expenses	245	—	—	—	209	251	—		—		—	—
Equity in income/loss of and interest earned from unconsolidated affiliates	—	—	—	—	—	—	—		—		—	—
Hurricane business interruption insurance gain	—	—	—	—	—	—	—		—		—	—
Operating income (loss)	839	—	—	—	135	127	—		—		—	—
Minority interest	—	—	—	—	—	—	—		—		—	—
Interest expense, net	—	—	—	—	—	—	—		—		—	—
Loss on early extinguishments of debt	—	—	—	—	—	—	—		—		—	—
Equity in income from consolidated entities	—	—	—	—	—	—	—		—		—	—
(Loss) income before income taxes and discontinued operations	839	—	—	—	135	127	—		—		—	—
Income tax (expense) benefit	—	—	—	—	—	—	—		—		—	—
(Loss) income from continuing operations	839	—	—	—	135	127	—		—		—	—
Discontinued operations:
(Loss) income from discontinued operations before income tax	—	142	—	—	—	—	(150	)	(49	)	—	—
Income tax (expense) benefit	—	—	—	—	—	—	—		—		—	—
(Loss) income from discontinued operations	—	142	—	—	—	—	(150	)	(49	)	—	—
Net (loss) income	839	142	—	—	135	127	(150	)	(49	)	—	—

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Statement of Operations

Three months ended June 30, 2004

Unaudited

(Dollars in thousands)

	MeriStar Sub 4A, L.P.	MeriStar Sub 4D, LLC	MeriStar Sub 2A, LLC	MeriStar Sub 6L, LLC	MDV Limited Partnership	MeriStar Sub 5C, LLC	MeriStar Sub 6J, LLC	MeriStar Sub 1D, LLC	MeriStar Sub 7B, L.P.		MeriStar Sub 7D, LLC
Revenue:
Hotel operations:
Rooms	—	—	—	—	—	—	—	—	—		—
Food and beverage	—	—	—	—	—	—	—	—	—		—
Other hotel operations	—	—	—	—	—	—	—	—	—		—
Office rental parking and other revenue	—	—	—	—	—	—	—	55	—		274
Participating lease revenue	—	—	—	—	133	—	754	1,124	—		1,474
Total revenue	—	—	—	—	133	—	754	1,179	—		1,748
Hotel operating expenses:
Rooms	—	—	—	—	—	—	—	—	—		—
Food and beverage	—	—	—	—	—	—	—	—	—		—
Other operating departments	—	—	—	—	—	—	—	—	—		—
Office rental, parking and other expenses	—	—	—	—	—	—	—	35	—		216
Other operating expenses:
General and administrative, hotel	—	—	—	—	—	—	—	—	—		—
General and administrative, corporate	—	—	—	—	—	—	—	—	—		—
Property operating costs	—	—	—	—	—	—	—	—	—		—
Depreciation and amortization	—	—	—	—	47	—	140	567	—		431
Property taxes, insurance and other	—	—	—	—	34	—	71	389	—		647
Loss on asset impairments	—	—	—	—	—	—	—	—	—		—
Operating expenses	—	—	—	—	81	—	211	991	—		1,294
Equity in income/loss of and interest earned from unconsolidated affiliates	—	—	—	—	—	—	—	—	—		—
Hurricane business interruption insurance gain	—	—	—	—	—	—	—	—	—		—
Operating income (loss)	—	—	—	—	52	—	543	188	—		454
Minority interest	—	—	—	—	—	—	—	—	—		—
Interest expense, net	—	—	—	—	—	—	—	—	—		—
Loss on early extinguishments of debt	—	—	—	—	—	—	—	—	—		—
Equity in income from consolidated entities	—	—	—	—	—	—	—	—	—		—
(Loss) income before income taxes and discontinued operations	—	—	—	—	52	—	543	188	—		454
Income tax (expense) benefit	—	—	—	—	—	—	—	—	—		—
(Loss) income from continuing operations	—	—	—	—	52	—	543	188	—		454
Discontinued operations:
(Loss) income from discontinued operations before income tax	1	—	—	—	—	—	—	—	(503	)	—
Income tax (expense) benefit	—	—	—	—	—	—	—	—	—		—
(Loss) income from discontinued operations	1	—	—	—	—	—	—	—	(503	)	—
Net (loss) income	1	—	—	—	52	—	543	188	(503	)	454

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Statement of Operations

Three months ended June 30, 2004

Unaudited

(Dollars in thousands)

	MeriStar Sub 7G, LLC	MeriStar Sub 6B, LLC	MeriStar Sub 4I, L.P.	MeriStar Sub 5D, LLC		MeriStar Sub 5H, LLC	MeriStar Sub 7H, LLC	AGH PSS I, Inc.	MeriStar Sub 2D, LLC	MeriStar Sub 4F, L.P.	MeriStar Sub 5K, LLC
Revenue:
Hotel operations:
Rooms	—	—	—	—		—	—	—	—	—	—
Food and beverage	—	—	—	—		—	—	—	—	—	—
Other hotel operations	—	—	—	—		—	—	—	—	—	—
Office rental parking and other revenue	—	—	—	—		—	—	—	—	6	—
Participating lease revenue	—	356	—	642		—	—	—	—	492	—
Total revenue	—	356	—	642		—	—	—	—	498	—
Hotel operating expenses:
Rooms	—	—	—	—		—	—	—	—	—	—
Food and beverage	—	—	—	—		—	—	—	—	—	—
Other operating departments	—	—	—	—		—	—	—	—	—	—
Office rental, parking and other expenses	—	—	—	—		—	—	—	—	—	—
Other operating expenses:
General and administrative, hotel	—	—	—	—		—	—	—	—	—	—
General and administrative, corporate	—	—	—	—		—	—	—	—	—	—
Property operating costs	—	—	—	—		—	—	—	—	—	—
Depreciation and amortization	—	112	—	369		—	—	—	—	275	—
Property taxes, insurance and other	—	54	—	49		—	—	—	—	98	—
Loss on asset impairments	—	—	—	—		—	—	—	—	—	—
Operating expenses	—	166	—	418		—	—	—	—	373	—
Equity in income/loss of and interest earned from unconsolidated affiliates	—	—	—	—		—	—	—	—	—	—
Hurricane business interruption insurance gain	—	—	—	—		—	—	—	—	—	—
Operating income (loss)	—	190	—	224		—	—	—	—	125	—
Minority interest	—	—	—	—		—	—	—	—	—	—
Interest expense, net	—	—	—	(340	)	—	—	—	—	—	—
Loss on early extinguishments of debt	—	—	—	—		—	—	—	—	—	—
Equity in income from consolidated entities	—	—	—	—		—	—	—	—	—	—
(Loss) income before income taxes and discontinued operations	—	190	—	(116	)	—	—	—	—	125	—
Income tax (expense) benefit	—	—	—	—		—	—	—	—	—	—
(Loss) income from continuing operations	—	190	—	(116	)	—	—	—	—	125	—
Discontinued operations:
(Loss) income from discontinued operations before income tax	56	—	—	—		—	—	—	—	—	165
Income tax (expense) benefit	—	—	—	—		—	—	—	—	—	—
(Loss) income from discontinued operations	56	—	—	—		—	—	—	—	—	165
Net (loss) income	56	190	—	(116	)	—	—	—	—	125	165

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Statement of Operations

Three months ended June 30, 2004

Unaudited

(Dollars in thousands)

	MeriStar Sub 5M, LLC	MeriStar Sub 1E, LLC	MeriStar Sub 5O, LLC	MeriStar Sub 4B, L.P.		MeriStar Sub 2C, LLC		MeriStar Sub 4G, L.P.	MeriStar Sub 3B, LLC	MeriStar Sub 5G, L.P.	MeriStar Sub 5N, LLC	MeriStar Sub 5P, LLC
Revenue:
Hotel operations:
Rooms	—	—	—	—		—		—	—	—	—	—
Food and beverage	—	—	—	—		—		—	—	—	—	—
Other hotel operations	—	—	—	—		—		—	—	—	—	—
Office rental parking and other revenue	—	—	—	—		—		—	—	7	—	—
Participating lease revenue	422	—	210	—		—		—	—	2,444	211	321
Total revenue	422	—	210	—		—		—	—	2,451	211	321
Hotel operating expenses:
Rooms	—	—	—	—		—		—	—	—	—	—
Food and beverage	—	—	—	—		—		—	—	—	—	—
Other operating departments	—	—	—	—		—		—	—	—	—	—
Office rental, parking and other expenses	—	—	—	—		—		—	—	—	—	—
Other operating expenses:
General and administrative, hotel	—	—	—	—		—		—	—	—	—	—
General and administrative, corporate	—	—	—	—		—		—	—	—	—	—
Property operating costs	—	—	—	—		—		—	—	—	—	—
Depreciation and amortization	120	—	57	—		—		—	—	1,578	35	1
Property taxes, insurance and other	64	—	25	—		—		—	—	393	24	1
Loss on asset impairments	—	—	—	—		—		—	—	—	—	—
Operating expenses	184	—	82	—		—		—	—	1,971	59	2
Equity in income/loss of and interest earned from unconsolidated affiliates	—	—	—	—		—		—	—	—	—	—
Hurricane business interruption insurance gain	—	—	—	—		—		—	—	—	—	—
Operating income (loss)	238	—	128	—		—		—	—	480	152	319
Minority interest	—	—	—	—		—		—	—	—	—	—
Interest expense, net	—	—	—	—		—		—	—	—	—	—
Loss on early extinguishments of debt	—	—	—	—		—		—	—	—	—	—
Equity in income from consolidated entities	—	—	—	—		—		—	—	—	—	—
(Loss) income before income taxes and discontinued operations	238	—	128	—		—		—	—	480	152	319
Income tax (expense) benefit	—	—	—	—		—		—	—	—	—	—
(Loss) income from continuing operations	238	—	128	—		—		—	—	480	152	319
Discontinued operations:
(Loss) income from discontinued operations before income tax	—	—	—	(1	)	(667	)	256	—	—	—	—
Income tax (expense) benefit	—	—	—	—		—		—	—	—	—	—
(Loss) income from discontinued operations	—	—	—	(1	)	(667	)	256	—	—	—	—
Net (loss) income	238	—	128	(1	)	(667	)	256	—	480	152	319

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Statement of Operations

Three months ended June 30, 2004

Unaudited

(Dollars in thousands)

	MeriStar Sub 5J, LLC	MeriStar Sub 5Q, LLC	MeriStar Sub 5A, LLC		MeriStar Sub 8D, LLC	MeriStar Sub 4J, LLC	Meristar Pentagon City, LLC		MeriStar Sub 6K, LLC	MeriStar Sub 5E, LLC	MeriStar Sub 6I, LLC	MeriStar Sub 5I, LLC
Revenue:
Hotel operations:
Rooms	—	—	—		—	—	—		—	—	—	—
Food and beverage	—	—	—		—	—	—		—	—	—	—
Other hotel operations	—	—	—		—	—	—		—	—	—	—
Office rental parking and other revenue	—	—	24		—	72	—		—	—	—	—
Participating lease revenue	2,611	516	1,484		—	699	1,406		—	—	—	—
Total revenue	2,611	516	1,508		—	771	1,406		—	—	—	—
Hotel operating expenses:
Rooms	—	—	—		—	—	—		—	—	—	—
Food and beverage	—	—	—		—	—	—		—	—	—	—
Other operating departments	—	—	—		—	—	—		—	—	—	—
Office rental, parking and other expenses	—	—	—		—	148	—		—	—	—	—
Other operating expenses:
General and administrative, hotel	—	—	—		—	—	4		—	—	—	—
General and administrative, corporate	—	—	—		—	—	—		—	—	—	—
Property operating costs	—	—	—		—	—	—		—	—	—	—
Depreciation and amortization	1,395	154	263		—	317	355		—	—	—	—
Property taxes, insurance and other	498	97	201		—	81	177		—	—	—	—
Loss on asset impairments	—	—	—		—	—	—		—	—	—	—
Operating expenses	1,893	251	464		—	546	536		—	—	—	—
Equity in income/loss of and interest earned from unconsolidated affiliates	—	—	—		—	—	—		—	—	—	—
Hurricane business interruption insurance gain	—	—	—		—	—	—		—	—	—	—
Operating income (loss)	718	265	1,044		—	225	870		—	—	—	—
Minority interest	—	—	—		—	—	—		—	—	—	—
Interest expense, net	—	—	(709	)	—	—	(9	)	—	—	—	—
Loss on early extinguishments of debt	—	—	—		—	—	—		—	—	—	—
Equity in income from consolidated entities	—	—	—		—	—	—		—	—	—	—
(Loss) income before income taxes and discontinued operations	718	265	335		—	225	861		—	—	—	—
Income tax (expense) benefit	—	—	—		—	—	—		—	—	—	—
(Loss) income from continuing operations	718	265	335		—	225	861		—	—	—	—
Discontinued operations:
(Loss) income from discontinued operations before income tax	—	—	—		—	—	—		—	—	—	—
Income tax (expense) benefit	—	—	—		—	—	—		—	—	—	—
(Loss) income from discontinued operations	—	—	—		—	—	—		—	—	—	—
Net (loss) income	718	265	335		—	225	861		—	—	—	—

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Statement of Operations

Three months ended June 30, 2004

Unaudited

(Dollars in thousands)

	CapStar Cherry Hill Company, LLC	Meristar Acquisition Company, LLC	MeriStar Sub 6A, LLC	MeriStar Sub 6F, LLC	MeriStar Hotel Lessee, Inc.		Guarantor Eliminations	Guarantor Subsidiaries Total		Eliminations		Total Consolidated
Revenue:
Hotel operations:
Rooms	—	—	—	—	137,230		—	137,230		—		137,230
Food and beverage	—	—	—	—	57,028		—	57,028		—		57,028
Other hotel operations	—	—	—	—	15,694		—	15,694		—		15,694
Office rental parking and other revenue	—	—	—	—	161		—	643		—		1,328
Participating lease revenue	—	—	—	—	—		—	25,039		(60,759	)	—
Total revenue	—	—	—	—	210,113		—	235,634		(60,759	)	211,280
Hotel operating expenses:
Rooms	—	—	—	—	33,208		—	33,208		—		33,208
Food and beverage	—	—	—	—	39,877		—	39,877		—		39,877
Other operating departments	—	—	—	—	9,943		—	9,943		—		9,943
Office rental, parking and other expenses	—	—	—	—	—		—	399		—		670
Other operating expenses:
General and administrative, hotel	—	—	—	—	30,127		—	30,131		—		30,152
General and administrative, corporate	—	—	—	—	288		—	288		—		3,473
Property operating costs	—	—	—	—	30,235		—	30,235		—		30,048
Depreciation and amortization	—	—	—	—	45		—	9,335		—		24,204
Property taxes, insurance and other	—	—	—	—	65,518		—	69,738		(60,759	)	15,232
Loss on asset impairments	—	—	—	—	—		—	—				310
Operating expenses	—	—	—	—	209,241		—	223,154		(60,759	)	187,117
Equity in income/loss of and interest earned from unconsolidated affiliates	—	—	—	—	—		—	—		—		1,600
Hurricane business interruption insurance gain	—	—	—	—	—		—	—		—		—
Operating income (loss)	—	—	—	—	872		—	12,480		—		25,763
Minority interest	—	—	—	—	—		—	—		—		20
Interest expense, net	—	—	—	—	(1,884	)	—	(2,942	)	—		(30,090	)
Loss on early extinguishments of debt	—	—	—	—	—		—	—		—		(1,980	)
Equity in income from consolidated entities	—	—	—	—	—		—	—		(12,880	)	—
(Loss) income before income taxes and discontinued operations	—	—	—	—	(1,012	)	—	9,538		(12,880	)	(6,287	)
Income tax (expense) benefit	—	—	—	—	—		—	—		—		(12	)
(Loss) income from continuing operations	—	—	—	—	(1,012	)	—	9,538		(12,880	)	(6,299	)
Discontinued operations:
(Loss) income from discontinued operations before income tax	—	—	—	—	(6,504	)	—	(8,140	)	—		(5,784	)
Income tax (expense) benefit	—	—	—	—	—		—	—		—		32
(Loss) income from discontinued operations	—	—	—	—	(6,504	)	—	(8,140	)	—		(5,752	)
Net (loss) income	—	—	—	—	(7,516	)	—	1,398		(12,880	)	(12,051	)

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Statement of Operations

Six months ended June 30, 2005

Unaudited

(Dollars in thousands)

	MeriStar Hospitality OP, L.P.		Non-Guarantor Subsidiaries		MeriStar Lexington Mortgage, LLC	MeriStar Lexington Partners, LLC		MeriStar Sub 7C, LLC	MeriStar Sub 8G, LLC	AGH Upreit, LLC	MeriStar Sub 6H, L.P.	MeriStar Sub 8F, L.P.	MeriStar Sub 8B, LLC
Revenue:
Hotel operations:
Rooms	—		—		—	—		—	—	—	—	—	—
Food and beverage	—		—		—	—		—	—	—	—	—	—
Other hotel operations	—		—		—	—		—	—	—	—	—	—
Office rental, parking and other revenue	9		2,718		—	—		—	—	—	—	—	—
Participating lease revenue	—		71,385		—	—		—	—	—	677	1,338	3,869
Total revenue	9		74,103		—	—		—	—	—	677	1,338	3,869
Hotel operating expenses:
Rooms	—		—		—	—		—	—	—	—	—	—
Food and beverage	—		—		—	—		—	—	—	—	—	—
Other hotel operating expenses	—		—		—	—		—	—	—	—	—	—
Office rental, parking and other expenses	—		721		—	—		—	—	—	—	—	—
Other operating expenses:
General and administrative, hotel	—		—		—	—		—	—	—	—	—	—
General and administrative, corporate	6,288		—		—	—		—	—	—	—	—	—
Property operating costs	—		—		—	—		—	—	—	—	—	—
Depreciation and amortization	3,873		25,810		—	���		—	—	—	314	329	1,225
Property taxes, insurance and other	—		9,789		—	—		—	—	—	48	522	450
Loss on asset impairments	—		—		—	—		—	—	—	—	—	—
Operating expenses	10,161		36,320		—	—		—	—	—	362	851	1,675
Equity in income/loss of and interest earned from unconsolidated affiliates	2,915		—		2,824	(1,164	)	—	—	—	—	—	—
Hurricane business interruption insurance gain	—		—		—	—		—	—	—	—	—	—
Operating income (loss)	(7,237	)	37,783		2,824	(1,164	)	—	—	—	315	487	2,194
Minority interest	2		—		—	—		—	—	—	—	—	—
Interest expense, net	(33,884	)	(15,866	)	—	—		—	—	—	—	—	—
Loss on early extinguishments of debt	(1,007	)	—		—	—		—	—	—	—	—	—
Equity in income from consolidated entities	30,284		—		—	—		—	—	—	—	—	—
(Loss) income before income taxes and discontinued operations	(11,842	)	21,917		2,824	(1,164	)	—	—	—	315	487	2,194
Income tax (expense) benefit	(287	)	—		—	—		—	—	—	—	—	—
(Loss) income from continuing operations	(12,129	)	21,917		2,824	(1,164	)	—	—	—	315	487	2,194
Discontinued operations:
(Loss) income from discontinued operations before income tax	(206	)	(2,352	)	—	—		—	—	—	—	—	—
Income tax (expense) benefit	—		—		—	—		—	—	—	—	—	—
(Loss) income from discontinued operations	(206	)	(2,352	)	—	—		—	—	—	—	—	—
Net (loss) income	(12,335	)	19,565		2,824	(1,164	)	—	—	—	315	487	2,194

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Statement of Operations

Six months ended June 30, 2005

Unaudited

(Dollars in thousands)

	MeriStar Sub 1C, LLC		MeriStar Sub 8E, LLC	MeriStar Sub 7F, LLC	MeriStar Sub 5L, LLC	MeriStar Sub 3C, LLC	MeriStar Sub 5R, LLC	MeriStar Sub 8A, LLC	MeriStar Sub 6D, LLC	MeriStar Sub 6E, LLC
Revenue:
Hotel operations:
Rooms	—		—	—	—	—	—	—	—	—
Food and beverage	—		—	—	—	—	—	—	—	—
Other hotel operations	—		—	—	—	—	—	—	—	—
Office rental, parking and other revenue	—		17	—	—	1	—	—	27	—
Participating lease revenue	658		771	607	465	1,282	—	—	1,430	3,554
Total revenue	658		788	607	465	1,283	—	—	1,457	3,554
Hotel operating expenses:
Rooms	—		—	—	—	—	—	—	—	—
Food and beverage	—		—	—	—	—	—	—	—	—
Other hotel operating expenses	—		—	—	—	—	—	—	—	—
Office rental, parking and other expenses	23		—	—	—	—	—	—	—	4
Other operating expenses:
General and administrative, hotel	—		—	—	—	—	—	—	—	—
General and administrative, corporate	—		—	—	—	—	—	—	—	—
Property operating costs	—		—	—	—	—	—	—	—	—
Depreciation and amortization	613		274	228	81	311	—	—	211	702
Property taxes, insurance and other	385		81	60	75	192	—	—	158	279
Loss on asset impairments	—		—	—	—	—	—	—	—	—
Operating expenses	1,021		355	288	156	503	—	—	369	985
Equity in income/loss of and interest earned from unconsolidated affiliates	—		—	—	—	—	—	—	—	—
Hurricane business interruption insurance gain	—		—	—	—	—	—	—	—	—
Operating income (loss)	(363	)	433	319	309	780	—	—	1,088	2,569
Minority interest	—		—	—	—	—	—	—	—	—
Interest expense, net	—		—	—	—	—	—	—	—	(938	)
Loss on early extinguishments of debt	—		—	—	—	—	—	—	—	—
Equity in income from consolidated entities	—		—	—	—	—	—	—	—	—
(Loss) income before income taxes and discontinued operations	(363	)	433	319	309	780	—	—	1,088	1,631
Income tax (expense) benefit	—		—	—	—	—	—	—	—	—
(Loss) income from continuing operations	(363	)	433	319	309	780	—	—	1,088	1,631
Discontinued operations:
(Loss) income from discontinued operations before income tax	—		—	—	—	—	—	—	—	—
Income tax (expense) benefit	—		—	—	—	—	—	—	—	—
(Loss) income from discontinued operations	—		—	—	—	—	—	—	—	—
Net (loss) income	(363	)	433	319	309	780	—	—	1,088	1,631

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Statement of Operations

Six months ended June 30, 2005

Unaudited

(Dollars in thousands)

	MeriStar Sub 4E, L.P.	MeriStar Sub 1B, LLC		MeriStar Sub 5F, L.P.	MeriStar Sub 6G, LLC	MeriStar Sub 8C, LLC	MeriStar Sub 4C, L.P.	MeriStar Sub 4H, L.P.	MeriStar Sub 7E, LLC	MeriStar Sub 3D, LLC
Revenue:
Hotel operations:
Rooms	—	—		—	—	—	—	—	—	—
Food and beverage	—	—		—	—	—	—	—	—	—
Other hotel operations	—	—		—	—	—	—	—	—	—
Office rental, parking and other revenue	—	—		—	—	—	—	—	—	—
Participating lease revenue	—	1,169		1,526	2,173	—	—	—	716	925
Total revenue	—	1,169		1,526	2,173	—	—	—	716	925
Hotel operating expenses:
Rooms	—	—		—	—	—	—	—	—	—
Food and beverage	—	—		—	—	—	—	—	—	—
Other hotel operating expenses	—	—		—	—	—	—	—	—	—
Office rental, parking and other expenses	—	(3	)	—	—	—	—	—	—	5
Other operating expenses:
General and administrative, hotel	—	—		—	—	—	—	—	—	—
General and administrative, corporate	—	—		—	—	—	—	—	—	—
Property operating costs	—	—		—	—	—	—	—	—	—
Depreciation and amortization	—	275		308	338	—	—	—	288	323
Property taxes, insurance and other	—	97		206	201	—	—	—	101	89
Loss on asset impairments	—	—		—	—	—	—	—	—	—
Operating expenses	—	369		514	539	—	—	—	389	417
Equity in income/loss of and interest earned from unconsolidated affiliates	—	—		—	—	—	—	—	—	—
Hurricane business interruption insurance gain	—	—		—	—	—	—	—	—	—
Operating income (loss)	—	800		1,012	1,634	—	—	—	327	508
Minority interest	—	—		—	—	—	—	—	—	—
Interest expense, net	—	(2	)	—	—	—	—	—	—	—
Loss on early extinguishments of debt	—	—		—	—	—	—	—	—	—
Equity in income from consolidated entities	—	—		—	—	—	—	—	—	—
(Loss) income before income taxes and discontinued operations	—	798		1,012	1,634	—	—	—	327	508
Income tax (expense) benefit	—	—		—	—	—	—	—	—	—
(Loss) income from continuing operations	—	798		1,012	1,634	—	—	—	327	508
Discontinued operations:
(Loss) income from discontinued operations before income tax	—	—		—	—	—	—	—	—	—
Income tax (expense) benefit	—	—		—	—	—	—	—	—	—
(Loss) income from discontinued operations	—	—		—	—	—	—	—	—	—
Net (loss) income	—	798		1,012	1,634	—	—	—	327	508

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Statement of Operations

Six months ended June 30, 2005

Unaudited

(Dollars in thousands)

	MeriStar Sub 1A, LLC	MeriStar Sub 7A Joint Venture	MeriStar Sub 2B, LLC	MeriStar Sub 3A, LLC	MeriStar Sub 4A, L.P.	MeriStar Sub 4D, LLC	MeriStar Sub 2A, LLC	MeriStar Sub 6L, LLC	MDV Limited Partnership
Revenue:
Hotel operations:
Rooms	—	—	—	—	—	—	—	—	—
Food and beverage	—	—	—	—	—	—	—	—	—
Other hotel operations	—	—	—	—	—	—	—	—	—
Office rental, parking and other revenue	—	—	—	—	—	—	—	—	—
Participating lease revenue	—	—	—	—	—	—	—	—	269
Total revenue	—	—	—	—	—	—	—	—	269
Hotel operating expenses:
Rooms	—	—	—	—	—	—	—	—	—
Food and beverage	—	—	—	—	—	—	—	—	—
Other hotel operating expenses	—	—	—	—	—	—	—	—	—
Office rental, parking and other expenses	—	—	—	—	—	—	—	—	—
Other operating expenses:
General and administrative, hotel	—	—	—	—	—	—	—	—	—
General and administrative, corporate	—	—	—	—	—	—	—	—	—
Property operating costs	—	—	—	—	—	—	—	—	—
Depreciation and amortization	—	—	—	—	—	—	—	—	98
Property taxes, insurance and other	—	—	—	—	—	—	—	—	63
Loss on asset impairments	—	—	—	—	—	—	—	—	—
Operating expenses	—	—	—	—	—	—	—	—	161
Equity in income/loss of and interest earned from unconsolidated affiliates	—	—	—	—	—	—	—	—	—
Hurricane business interruption insurance gain	—	—	—	—	—	—	—	—	—
Operating income (loss)	—	—	—	—	—	—	—	—	108
Minority interest	—	—	—	—	—	—	—	—	—
Interest expense, net	—	—	—	—	—	—	—	—	—
Loss on early extinguishments of debt	—	—	—	—	—	—	—	—	—
Equity in income from consolidated entities	—	—	—	—	—	—	—	—	—
(Loss) income before income taxes and discontinued operations	—	—	—	—	—	—	—	—	108
Income tax (expense) benefit	—	—	—	—	—	—	—	—	—
(Loss) income from continuing operations	—	—	—	—	—	—	—	—	108
Discontinued operations:
(Loss) income from discontinued operations before income tax	126	—	—	—	—	—	—	—	—
Income tax (expense) benefit	—	—	—	—	—	—	—	—	—
(Loss) income from discontinued operations	126	—	—	—	—	—	—	—��	—
Net (loss) income	126	—	—	—	—	—	—	—	108

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Statement of Operations

Six months ended June 30, 2005

Unaudited

(Dollars in thousands)

	MeriStar Sub 5C, LLC	MeriStar Sub 6J, LLC	MeriStar Sub 1D, LLC	MeriStar Sub 7B, L.P.	MeriStar Sub 7D, LLC	MeriStar Sub 7G, LLC	MeriStar Sub 6B, LLC	MeriStar Sub 4I, L.P.	MeriStar Sub 5D, LLC
Revenue:
Hotel operations:
Rooms	—	—	—	—	—	—	—	—	—
Food and beverage	—	—	—	—	—	—	—	—	—
Other hotel operations	—	—	—	—	—	—	—	—	—
Office rental, parking and other revenue	—	—	6	—	—	—	—	—	—
Participating lease revenue	—	1,716	3,131	—	4,037	—	642	—	1,137
Total revenue	—	1,716	3,137	—	4,037	—	642	—	1,137
Hotel operating expenses:
Rooms	—	—	—	—	—	—	—	—	—
Food and beverage	—	—	—	—	—	—	—	—	—
Other hotel operating expenses	—	—	—	—	—	—	—	—	—
Office rental, parking and other expenses	—	—	89	—	556	—	—	—	2
Other operating expenses:
General and administrative, hotel	—	—	—	—	—	—	—	—	—
General and administrative, corporate	—	—	—	—	—	—	—	—	—
Property operating costs	—	—	—	—	—	—	—	—	—
Depreciation and amortization	—	250	1,043	—	711	—	202	—	679
Property taxes, insurance and other	—	152	738	—	971	—	120	—	168
Loss on asset impairments	—	—	—	—	—	—	—	—	—
Operating expenses	—	402	1,870	—	2,238	—	322	—	849
Equity in income/loss of and interest earned from unconsolidated affiliates	—	—	—	—	—	—	—	—	—
Hurricane business interruption insurance gain	—	—	—	—	—	—	—	—	—
Operating income (loss)	—	1,314	1,267	—	1,799	—	320	—	288
Minority interest	—	—	—	—	—	—	—	—	—
Interest expense, net	—	—	—	—	—	—	—	—	(837	)
Loss on early extinguishments of debt	—	—	—	—	—	—	—	—	—
Equity in income from consolidated entities	—	—	—	—	—	—	—	—	—
(Loss) income before income taxes and discontinued operations	—	1,314	1,267	—	1,799	—	320	—	(549	)
Income tax (expense) benefit	—	—	—	—	—	—	—	—	—
(Loss) income from continuing operations	—	1,314	1,267	—	1,799	—	320	—	(549	)
Discontinued operations:
(Loss) income from discontinued operations before income tax	—	—	—	—	—	—	—	—	—
Income tax (expense) benefit	—	—	—	—	—	—	—	—	—
(Loss) income from discontinued operations	—	—	—	—	—	—	—	—	—
Net (loss) income	—	1,314	1,267	—	1,799	—	320	—	(549	)

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Statement of Operations

Six months ended June 30, 2005

Unaudited

(Dollars in thousands)

	MeriStar Sub 5H, LLC	MeriStar Sub 7H, LLC	AGH PSS I, Inc.	MeriStar Sub 2D, LLC	MeriStar Sub 4F, L.P.		MeriStar Sub 5K, LLC	MeriStar Sub 5M, LLC	MeriStar Sub 1E, LLC	MeriStar Sub 5O, LLC
Revenue:
Hotel operations:
Rooms	—	—	—	—	—		—	—	—	—
Food and beverage	—	—	—	—	—		—	—	—	—
Other hotel operations	—	—	—	—	—		—	—	—	—
Office rental, parking and other revenue	—	—	—	—	7		—	—	—	—
Participating lease revenue	—	—	—	—	1,021		—	772	—	105
Total revenue	—	—	—	—	1,028		—	772	—	105
Hotel operating expenses:
Rooms	—	—	—	—	—		—	—	—	—
Food and beverage	—	—	—	—	—		—	—	—	—
Other hotel operating expenses	—	—	—	—	—		—	—	—	—
Office rental, parking and other expenses	—	—	—	—	(1	)	—	—	—	—
Other operating expenses:
General and administrative, hotel	—	—	—	—	—		—	—	—	—
General and administrative, corporate	—	—	—	—	—		—	—	—	—
Property operating costs	—	—	—	—	—		—	—	—	—
Depreciation and amortization	—	—	—	—	503		—	134	—	70
Property taxes, insurance and other	—	—	—	—	184		—	26	—	18
Loss on asset impairments	—	—	—	—	—		—	—	—	—
Operating expenses	—	—	—	—	686		—	160	—	88
Equity in income/loss of and interest earned from unconsolidated affiliates	—	—	—	—	—		—	—	—	—
Hurricane business interruption insurance gain	—	—	—	—	—		—	—	—	—
Operating income (loss)	—	—	—	—	342		—	612	—	17
Minority interest	—	—	—	—	—		—	—	—	—
Interest expense, net	—	—	—	—	—		—	—	—	—
Loss on early extinguishments of debt	—	—	—	—	—		—	—	—	—
Equity in income from consolidated entities	—	—	—	—	—		—	—	—	—
(Loss) income before income taxes and discontinued operations	—	—	—	—	342		—	612	—	17
Income tax (expense) benefit	—	—	—	—	—		—	—	—	—
(Loss) income from continuing operations	—	—	—	—	342		—	612	—	17
Discontinued operations:
(Loss) income from discontinued operations before income tax	—	—	—	—	—		—	—	—	—
Income tax (expense) benefit	—	—	—	—	—		—	—	—	—
(Loss) income from discontinued operations	—	—	—	—	—		—	—	—	—
Net (loss) income	—	—	—	—	342		—	612	—	17

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Statement of Operations

Six months ended June 30, 2005

Unaudited

(Dollars in thousands)

	MeriStar Sub 4B, L.P.	MeriStar Sub 2C, LLC	MeriStar Sub 4G, L.P.	MeriStar Sub 3B, LLC	MeriStar Sub 5G, L.P.	MeriStar Sub 5N, LLC	MeriStar Sub 5P, LLC	MeriStar Sub 5J, LLC		MeriStar Sub 5Q, LLC
Revenue:
Hotel operations:
Rooms	—	—	—	—	—	—	—	—		—
Food and beverage	—	—	—	—	—	—	—	—		—
Other hotel operations	—	—	—	—	—	—	—	—		—
Office rental, parking and other revenue	—	—	—	—	12	—	—	227		—
Participating lease revenue	—	—	—	—	6,978	137	90	—		867
Total revenue	—	—	—	—	6,990	137	90	227		867
Hotel operating expenses:
Rooms	—	—	—	—	—	—	—	—		—
Food and beverage	—	—	—	—	—	—	—	—		—
Other hotel operating expenses	—	—	—	—	—	—	—	—		—
Office rental, parking and other expenses	—	—	—	—	8	—	—	1		—
Other operating expenses:
General and administrative, hotel	—	—	—	—	—	—	—	—		—
General and administrative, corporate	—	—	—	—	—	—	—	—		—
Property operating costs	—	—	—	—	—	—	—	—		—
Depreciation and amortization	—	—	—	—	3,102	38	2	1,821		246
Property taxes, insurance and other	—	—	—	—	827	19	4	(162	)	—
Loss on asset impairments	—	—	—	—	—	—	—	—		—
Operating expenses	—	—	—	—	3,937	57	6	1,660		246
Equity in income/loss of and interest earned from unconsolidated affiliates	—	—	—	—	—	—	—	—		—
Hurricane business interruption insurance gain	—	—	—	—	—	—	—	—		—
Operating income (loss)	—	—	—	—	3,053	80	84	(1,433	)	621
Minority interest	—	—	—	—	—	—	—	—		—
Interest expense, net	—	—	—	—	—	—	—	—		—
Loss on early extinguishments of debt	—	—	—	—	—	—	—	—		—
Equity in income from consolidated entities	—	—	—	—	—	—	—	—		—
(Loss) income before income taxes and discontinued operations	—	—	—	—	3,053	80	84	(1,433	)	621
Income tax (expense) benefit	—	—	—	—	—	—	—	—		—
(Loss) income from continuing operations	—	—	—	—	3,053	80	84	(1,433	)	621
Discontinued operations:
(Loss) income from discontinued operations before income tax	—	—	—	—	—	—	—	—		—
Income tax (expense) benefit	—	—	—	—	—	—	—	—		—
(Loss) income from discontinued operations	—	—	—	—	—	—	—	—		—
Net (loss) income	—	—	—	—	3,053	80	84	(1,433	)	621

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Statement of Operations

Six months ended June 30, 2005

Unaudited

(Dollars in thousands)

	MeriStar Sub 5A, LLC		MeriStar Sub 8D, LLC	MeriStar Sub 4J, LLC	Meristar Pentagon City, LLC		MeriStar Sub 6K, LLC	MeriStar Sub 5E, LLC	MeriStar Sub 6I, LLC	MeriStar Sub 5I, LLC	CapStar Cherry Hill Company, LLC
Revenue:
Hotel operations:
Rooms	—		—	—	—		—	—	—	—	—
Food and beverage	—		—	—	—		—	—	—	—	—
Other hotel operations	—		—	—	—		—	—	—	—	—
Office rental, parking and other revenue	42		—	3	—		—	—	—	—	—
Participating lease revenue	3,476		—	1,494	6,267		—	—	—	—	—
Total revenue	3,518		—	1,497	6,267		—	—	—	—	—
Hotel operating expenses:
Rooms	—		—	—	—		—	—	—	—	—
Food and beverage	—		—	—	—		—	—	—	—	—
Other hotel operating expenses	—		—	—	—		—	—	—	—	—
Office rental, parking and other expenses	1		—	235	—		—	—	—	—	—
Other operating expenses:
General and administrative, hotel	—		—	—	—		—	—	—	—	—
General and administrative, corporate	—		—	—	—		—	—	—	—	—
Property operating costs	—		—	—	—		—	—	—	—	—
Depreciation and amortization	525		—	650	2,620		—	—	—	—	—
Property taxes, insurance and other	405		—	176	1,082		—	—	—	—	—
Loss on asset impairments	—		—	—	—		—	—	—	—	—
Operating expenses	931		—	1,061	3,702		—	—	—	—	—
Equity in income/loss of and interest earned from unconsolidated affiliates	—		—	—	—		—	—	—	—	—
Hurricane business interruption insurance gain	—		—	—	—		—	—	—	—	—
Operating income (loss)	2,587		—	436	2,565		—	—	—	—	—
Minority interest	—		—	—	—		—	—	—	—	—
Interest expense, net	(1,417	)	—	—	(1,604	)	—	—	—	—	—
Loss on early extinguishments of debt	—		—	—	—		—	—	—	—	—
Equity in income from consolidated entities	—		—	—	—		—	—	—	—	—
(Loss) income before income taxes and discontinued operations	1,170		—	436	961		—	—	—	—	—
Income tax (expense) benefit	—		—	—	—		—	—	—	—	—
(Loss) income from continuing operations	1,170		—	436	961		—	—	—	—	—
Discontinued operations:
(Loss) income from discontinued operations before income tax	—		—	—	—		—	—	—	—	—
Income tax (expense) benefit	—		—	—	—		—	—	—	—	—
(Loss) income from discontinued operations	—		—	—	—		—	—	—	—	—
Net (loss) income	1,170		—	436	961		—	—	—	—	—

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Statement of Operations

Six months ended June 30, 2005

Unaudited

(Dollars in thousands)

	Meristar Acquisition Company, LLC	MeriStar Sub 6A, LLC	MeriStar Sub 6F, LLC	MeriStar Hotel Lessee, Inc.		Guarantor Eliminations		Guarantor Subsidiaries Total		Eliminations		Total Consolidated
Revenue:
Hotel operations:
Rooms	—	—	—	266,669		—		266,669		—		266,669
Food and beverage	—	—	—	112,187		—		112,187		—		112,187
Other hotel operations	—	—	—	23,039		—		23,039		—		23,039
Office rental, parking and other revenue	—	—	—	—		—		342		—		3,069
Participating lease revenue	—	—	—	—		—		53,299		(124,684	)	—
Total revenue	—	—	—	401,895		—		455,536		(124,684	)	404,964
Hotel operating expenses:
Rooms	—	—	—	64,409		—		64,409		—		64,409
Food and beverage	—	—	—	77,752		—		77,752		—		77,752
Other hotel operating expenses	—	—	—	14,626		—		14,626		—		14,626
Office rental, parking and other expenses	—	—	—	(205	)	—		715		—		1,436
Other operating expenses:
General and administrative, hotel	—	—	—	63,095		—		63,095		—		63,095
General and administrative, corporate	—	—	—	73		—		73		—		6,361
Property operating costs	—	—	—	60,452		—		60,452		—		60,452
Depreciation and amortization	—	—	—	—		—		18,514		—		48,197
Property taxes, insurance and other	—	—	—	130,042		—		137,777		(124,684	)	22,882
Loss on asset impairments	—	—	—	—		—		—		—		—
Operating expenses	—	—	—	410,244		—		437,413		(124,684	)	359,210
Equity in income/loss of and interest earned from unconsolidated affiliates	—	—	—	2,824		(2,824	)	1,660		—		4,575
Hurricane business interruption insurance gain	—	—	—	4,290		—		4,290		—		4,290
Operating income (loss)	—	—	—	(1,235	)	(2,824	)	24,073		—		54,619
Minority interest	—	—	—	—		—		—		—		2
Interest expense, net	—	—	—	(6,863	)	—		(11,661	)	—		(61,411	)
Loss on early extinguishments of debt	—	—	—	—		—		—		—		(1,007	)
Equity in income from consolidated entities	—	—	—	—		—		—		(30,284	)	—
(Loss) income before income taxes and discontinued operations	—	—	—	(8,098	)	(2,824	)	12,412		(30,284	)	(7,797	)
Income tax (expense) benefit	—	—	—	(125	)	—		(125	)	—		(412	)
(Loss) income from continuing operations	—	—	—	(8,223	)	(2,824	)	12,287		(30,284	)	(8,209	)
Discontinued operations:
(Loss) income from discontinued operations before income tax	—	—	—	(1,694	)	—		(1,568	)	—		(4,126	)
Income tax (expense) benefit	—	—	—	—		—		—		—		—
(Loss) income from discontinued operations	—	—	—	(1,694	)	—		(1,568	)	—		(4,126	)
Net (loss) income	—	—	—	(9,917	)	(2,824	)	10,719		(30,284	)	(12,335	)

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Statement of Operations

Six months ended June 30, 2004

Unaudited

(Dollars in thousands)

	MeriStar Hospitality OP, L.P.		Non- Guarantor Subsidiaries		MeriStar Sub 7C, LLC	MeriStar Sub 8G, LLC	AGH Upreit, LLC	MeriStar Sub 6H, L.P.	MeriStar Sub 8F, L.P.	MeriStar Sub 8B, LLC	MeriStar Sub 1C, LLC		MeriStar Sub 8E, LLC
Revenue:
Hotel operations:
Rooms	—		—		—	—	—	—	—	—	—		—
Food and beverage	—		—		—	—	—	—	—	—	—		—
Other hotel operations	—		—		—	—	—	—	—	—	—		—
Office rental parking and other revenue	26		1,296		—	—	—	—	—	—	—		16
Participating lease revenue	—		72,017		—	—	—	675	1,202	3,727	726		742
Total revenue	26		73,313		—	—	—	675	1,202	3,727	726		758
Hotel operating expenses:
Rooms	—		—		—	—	—	—	—	—	—		—
Food and beverage	—		—		—	—	—	—	—	—	—		—
Other operating departments	—		—		—	—	—	—	—	—	—		—
Office rental, parking and other expenses	—		561		—	—	—	—	—	—	—		—
Other operating expenses:			—
General and administrative, hotel	—		21		—	—	—	—	—	—	—		—
General and administrative, corporate	7,016		—		—	—	—	—	—	—	—		—
Property operating costs	—		(511	)	—	—	—	—	—	—	—		—
Depreciation and amortization	6,237		24,243		—	—	—	313	329	1,197	697		298
Property taxes, insurance and other	(356	)	15,445		—	—	—	50	305	556	379		84
Loss on asset impairments	—		310		—	—	—	—	—	—	—		—
Operating expenses	12,897		40,069		—	—	—	363	634	1,753	1,076		382
Equity in income/loss of and interest earned from unconsolidated affiliates	3,200		—		—	—	—	—	—	—	—		—
Hurricane business interruption insurance gain	—		—		—	—	—	—	—	—	—		—
Operating income (loss)	(9,671	)	33,244		—	—	—	312	568	1,974	(350	)	376
Minority interest	24		—		—	—	—	—	—	—	—		—
Interest expense, net	(42,325	)	(16,668	)	—	—	—	—	—	—	—		—
Loss on early extinguishments of debt	(7,903	)	—		—	—	—	—	—	—	—		—
Equity in income from consolidated entities	6,014		—		—	—	—	—	—	—	—		—
(Loss) income before income taxes and discontinued operations	(53,861	)	16,576		—	—	—	312	568	1,974	(350	)	376
Income tax (expense) benefit	373		—		—	—	—	—	—	—	—		—
(Loss) income from continuing operations	(53,488	)	16,576		—	—	—	312	568	1,974	(350	)	376
Discontinued operations:
(Loss) income from discontinued operations before income tax	448		2,495		—	—	—	—	—	—	—		—
Income tax (expense) benefit	102		—		—	—	—	—	—	—	—		—
(Loss) income from discontinued operations	550		2,495		—	—	—	—	—	—	—		—
Net (loss) income	(52,938	)	19,071		—	—	—	312	568	1,974	(350	)	376

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Statement of Operations

Six months ended June 30, 2004

Unaudited

(Dollars in thousands)

	MeriStar Sub 7F, LLC	MeriStar Sub 5L, LLC	MeriStar Sub 3C, LLC	MeriStar Sub 5R, LLC	MeriStar Sub 8A, LLC	MeriStar Sub 6D, LLC	MeriStar Sub 6E, LLC	MeriStar Sub 4E, L.P.		MeriStar Sub 1B, LLC		MeriStar Sub 5F, L.P.
Revenue:
Hotel operations:
Rooms	—	—	—	—	—	—	—	—		—		—
Food and beverage	—	—	—	—	—	—	—	—		—		—
Other hotel operations	—	—	—	—	—	—	—	—		—		—
Office rental parking and other revenue	—	—	1	—	—	90	—	—		(4	)	—
Participating lease revenue	550	630	1,015	—	—	1,014	3,007	—		1,123		1,429
Total revenue	550	630	1,016	—	—	1,104	3,007	—		1,119		1,429
Hotel operating expenses:
Rooms	—	—	—	—	—	—	—	—		—		—
Food and beverage	—	—	—	—	—	—	—	—		—		—
Other operating departments	—	—	—	—	—	—	—	—		—		—
Office rental, parking and other expenses	—	—	—	—	—	—	—	—		—		—
Other operating expenses:
General and administrative, hotel	—	—	—	—	—	—	—	—		—		—
General and administrative, corporate	—	—	—	—	—	—	—	—		—		—
Property operating costs	—	—	—	—	—	—	—	—		—		—
Depreciation and amortization	170	77	356	—	—	273	825	—		249		391
Property taxes, insurance and other	61	76	202	—	—	152	288	—		55		187
Loss on asset impairments	—	—	—	—	—	—	—	—		—		—
Operating expenses	231	153	558	—	—	425	1,113	—		304		578
Equity in income/loss of and interest earned from unconsolidated affiliates	—	—	—	—	—	—	—	—		—		—
Hurricane business interruption insurance gain	—	—	—	—	—	—	—	—		—		—
Operating income (loss)	319	477	458	—	—	679	1,894	—		815		851
Minority interest	—	—	—	—	—	—	—	—		—		—
Interest expense, net	—	—	—	—	—	—	—	—		—		—
Loss on early extinguishments of debt	—	—	—	—	—	—	—	—		—		—
Equity in income from consolidated entities	—	—	—	—	—	—	—	—		—		—
(Loss) income before income taxes and discontinued operations	319	477	458	—	—	679	1,894	—		815		851
Income tax (expense) benefit	—	—	—	—	—	—	—	—		—		—
(Loss) income from continuing operations	319	477	458	—	—	679	1,894	—		815		851
Discontinued operations:
(Loss) income from discontinued operations before income tax	—	—	—	—	—	—	—	(721	)	—		—
Income tax (expense) benefit	—	—	—	—	—	—	—	—		—		—
(Loss) income from discontinued operations	—	—	—	—	—	—	—	(721	)	—		—
Net (loss) income	319	477	458	—	—	679	1,894	(721	)	815		851

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Statement of Operations

Six months ended June 30, 2004

Unaudited

(Dollars in thousands)

	MeriStar Sub 6G, LLC	MeriStar Sub 8C, LLC		MeriStar Sub 4C, L.P.	MeriStar Sub 4H, L.P.		MeriStar Sub 7E, LLC	MeriStar Sub 3D, LLC	MeriStar Sub 1A, LLC		MeriStar Sub 7A Joint Venture		MeriStar Sub 2B, LLC	MeriStar Sub 3A, LLC
Revenue:
Hotel operations:
Rooms	—	—		—	—		—	—	—		—		—	—
Food and beverage	—	—		—	—		—	—	—		—		—	—
Other hotel operations	—	—		—	—		—	—	—		—		—	—
Office rental parking and other revenue	—	—		—	—		1	—	—		—		—	—
Participating lease revenue	1,913	—		—	—		689	754	—		—		—	—
Total revenue	1,913	—		—	—		690	754	—		—		—	—
Hotel operating expenses:
Rooms	—	—		—	—		—	—	—		—		—	—
Food and beverage	—	—		—	—		—	—	—		—		—	—
Other operating departments	—	—		—	—		—	—	—		—		—	—
Office rental, parking and other expenses	—	—		—	—		—	—	—		—		—	—
Other operating expenses:
General and administrative, hotel	—	—		—	—		—	—	—		—		—	—
General and administrative, corporate	—	—		—	—		—	—	—		—		—	—
Property operating costs	—	—		—	—		—	—	—		—		—	—
Depreciation and amortization	362	—		—	—		313	382	—		—		—	—
Property taxes, insurance and other	197	—		—	—		100	126	—		—		—	—
Loss on asset impairments	—	—		—	—		—	—	—		—		—	—
Operating expenses	559	—		—	—		413	508	—		—		—	—
Equity in income/loss of and interest earned from unconsolidated affiliates	—	—		—	—		—	—	—		—		—	—
Hurricane business interruption insurance gain	—	—		—	—		—	—	—		—		—	—
Operating income (loss)	1,354	—		—	—		277	246	—		—		—	—
Minority interest	—	—		—	—		—	—	—		—		—	—
Interest expense, net	—	—		—	—		—	—	—		—		—	—
Loss on early extinguishments of debt	—	—		—	—		—	—	—		—		—	—
Equity in income from consolidated entities	—	—		—	—		—	—	—		—		—	—
(Loss) income before income taxes and discontinued operations	1,354	—		—	—		277	246	—		—		—	—
Income tax (expense) benefit	—	—		—	—		—	—	—		—		—	—
(Loss) income from continuing operations	1,354	—		—	—		277	246	—		—		—	—
Discontinued operations:
(Loss) income from discontinued operations before income tax	—	(61	)	—	(403	)	—	—	(167	)	(713	)	—	89
Income tax (expense) benefit	—	—		—	—		—	—	—		—		—	—
(Loss) income from discontinued operations	—	(61	)	—	(403	)	—	—	(167	)	(713	)	—	89
Net (loss) income	1,354	(61	)	—	(403	)	277	246	(167	)	(713	)	—	89

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Statement of Operations

Six months ended June 30, 2004

Unaudited

(Dollars in thousands)

	MeriStar Sub 4A, LP	MeriStar Sub 4D, LLC	MeriStar Sub 2A, LLC	MeriStar Sub 6L, LLC	MDV Limited Partnership	MeriStar Sub 5C, LLC	MeriStar Sub 6J, LLC	MeriStar Sub 1D, LLC	MeriStar Sub 7B, L.P.		MeriStar Sub 7D, LLC
Revenue:
Hotel operations:
Rooms	—	—	—	—	—	—	—	—	—		—
Food and beverage	—	—	—	—	—	—	—	—	—		—
Other hotel operations	—	—	—	—	—	—	—	—	—		—
Office rental parking and other revenue	—	—	—	—	—	—	—	140	—		710
Participating lease revenue	—	—	—	—	263	—	1,250	2,513	—		2,935
Total revenue	—��	—	—	—	263	—	1,250	2,653	—		3,645
Hotel operating expenses:
Rooms	—	—	—	—	—	—	—	—	—		—
Food and beverage	—	—	—	—	—	—	—	—	—		—
Other operating departments	—	—	—	—	—	—	—	—	—		—
Office rental, parking and other expenses	—	—	—	—	—	—	—	63	—		415
Other operating expenses:
General and administrative, hotel	—	—	—	—	—	—	—	—	—		—
General and administrative, corporate	—	—	—	—	—	—	—	—	—		—
Property operating costs	—	—	—	—	—	—	—	—	—		—
Depreciation and amortization	—	—	—	—	70	—	281	1,136	—		862
Property taxes, insurance and other	—	—	—	—	63	—	146	807	—		1,305
Loss on asset impairments	—	—	—	—	—	—	—	—	—		—
Operating expenses	—	—	—	—	133	—	427	2,006	—		2,582
Equity in income/loss of and interest earned from unconsolidated affiliates	—	—	—	—	—	—	—	—	—		—
Hurricane business interruption insurance gain	—	—	—	—	—	—	—	—	—		—
Operating income (loss)	—	—	—	—	130	—	823	647	—		1,063
Minority interest	—	—	—	—	—	—	—	—	—		—
Interest expense, net	—	—	—	—	—	—	—	—	—		—
Loss on early extinguishments of debt	—	—	—	—	—	—	—	—	—		—
Equity in income from consolidated entities	—	—	—	—	—	—	—	—	—		—
(Loss) income before income taxes and discontinued operations	—	—	—	—	130	—	823	647	—		1,063
Income tax (expense) benefit	—	—	—	—	—	—	—	—	—		—
(Loss) income from continuing operations	—	—	—	—	130	—	823	647	—		1,063
Discontinued operations:
(Loss) income from discontinued operations before income tax	97	—	—	1,852	—	—	—	—	(787	)	—
Income tax (expense) benefit	—	—	—	—	—	—	—	—	—		—
(Loss) income from discontinued operations	97	—	—	1,852	—	—	—	—	(787	)	—
Net (loss) income	97	—	—	1,852	130	—	823	647	(787	)	1,063

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Statement of Operations

Six months ended June 30, 2004

Unaudited

(Dollars in thousands)

	MeriStar Sub 7G, LLC	MeriStar Sub 6B, LLC	MeriStar Sub 4I, L.P.	MeriStar Sub 5D, LLC		MeriStar Sub 5H, LLC	MeriStar Sub 7H, LLC	AGH PSS I, Inc.	MeriStar Sub 2D, LLC	MeriStar Sub 4F, L.P.	MeriStar Sub 5K, LLC
Revenue:
Hotel operations:
Rooms	—	—	—	—		—	—	—	—	—	—
Food and beverage	—	—	—	—		—	—	—	���	—	—
Other hotel operations	—	—	—	—		—	—	—	—	—	—
Office rental parking and other revenue	—	—	—	—		—	—	—	—	10	—
Participating lease revenue	—	593	—	1,101		—	—	—	—	984	—
Total revenue	—	593	—	1,101		—	—	—	—	994	—
Hotel operating expenses:
Rooms	—	—	—	—		—	—	—	—	—	—
Food and beverage	—	—	—	—		—	—	—	—	—	—
Other operating departments	—	—	—	—		—	—	—	—	—	—
Office rental, parking and other expenses	—	—	—	—		—	—	—	—	—	—
Other operating expenses:
General and administrative, hotel	—	—	—	—		—	—	—	—	—	—
General and administrative, corporate	—	—	—	—		—	—	—	—	—	—
Property operating costs	—	—	—	—		—	—	—	—	—	—
Depreciation and amortization	—	224	—	738		—	—	—	—	552	—
Property taxes, insurance and other	—	112	—	102		—	—	—	—	187	—
Loss on asset impairments	—	—	—	—		—	—	—	—	—	—
Operating expenses	—	336	—	840		—	—	—	—	739	—
Equity in income/loss of and interest earned from unconsolidated affiliates	—	—	—	—		—	—	—	—	—	—
Hurricane business interruption insurance gain	—	—	—	—		—	—	—	—	—	—
Operating income (loss)	—	257	—	261		—	—	—	—	255	—
Minority interest	—	—	—	—		—	—	—	—	—	—
Interest expense, net	—	—	—	(647	)	—	—	—	—	—	—
Loss on early extinguishments of debt	—	—	—	—		—	—	—	—	—	—
Equity in income from consolidated entities	—	—	—	—		—	—	—	—	—	—
(Loss) income before income taxes and discontinued operations	—	257	—	(386	)	—	—	—	—	255	—
Income tax (expense) benefit	—	—	—	—		—	—	—	—	—	—
(Loss) income from continuing operations	—	257	—	(386	)	—	—	—	—	255	—
Discontinued operations:
(Loss) income from discontinued operations before income tax	103	—	—	—		—	—	—	—	—	429
Income tax (expense) benefit	—	—	—	—		—	—	—	—	—	—
(Loss) income from discontinued operations	103	—	—	—		—	—	—	—	—	429
Net (loss) income	103	257	—	(386	)	—	—	—	—	255	429

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Statement of Operations

Six months ended June 30, 2004

Unaudited

(Dollars in thousands)

	MeriStar Sub 5M, LLC	MeriStar Sub 1E, LLC	MeriStar Sub 5O, LLC	MeriStar Sub 4B, L.P.		MeriStar Sub 2C, LLC		MeriStar Sub 4G, L.P.	MeriStar Sub 3B, LLC	MeriStar Sub 5G, L.P.	MeriStar Sub 5N, LLC	MeriStar Sub 5P, LLC
Revenue:
Hotel operations:
Rooms	—	—	—	—		—		—	—	—	—	—
Food and beverage	—	—	—	—		—		—	—	—	—	—
Other hotel operations	—	—	—	—		—		—	—	—	—	—
Office rental parking and other revenue	—	—	—	—		—		—	—	14	—	—
Participating lease revenue	991	—	471	—		—		—	—	5,506	519	488
Total revenue	991	—	471	—		—		—	—	5,520	519	488
Hotel operating expenses:
Rooms	—	—	—	—		—		—	—	—	—	—
Food and beverage	—	—	—	—		—		—	—	—	—	—
Other operating departments	—	—	—	—		—		—	—	—	—	—
Office rental, parking and other expenses	—	—	—	—		—		—	—	—	—	—
Other operating expenses:
General and administrative, hotel	—	—	—	—		—		—	—	—	—	—
General and administrative, corporate	—	—	—	—		—		—	—	—	—	—
Property operating costs	—	—	—	—		—		—	—	—	—	—
Depreciation and amortization	238	—	114	—		—		—	—	3,150	69	2
Property taxes, insurance and other	135	—	52	—		—		—	—	819	52	3
Loss on asset impairments	—	—	—	—		—		—	—	—	—	—
Operating expenses	373	—	166	—		—		—	—	3,969	121	5
Equity in income/loss of and interest earned from unconsolidated affiliates	—	—	—	—		—		—	—	—	—	—
Hurricane business interruption insurance gain	—	—	—	—		—		—	—	—	—	—
Operating income (loss)	618	—	305	—		—		—	—	1,551	398	483
Minority interest	—	—	—	—		—		—	—	—	—	—
Interest expense, net	—	—	—	—		—		—	—	—	—	—
Loss on early extinguishments of debt	—	—	—	—		—		—	—	—	—	—
Equity in income from consolidated entities	—	—	—	—		—		—	—	—	—	—
(Loss) income before income taxes and discontinued operations	618	—	305	—		—		—	—	1,551	398	483
Income tax (expense) benefit	—	—	—	—		—		—	—	—	—	—
(Loss) income from continuing operations	618	—	305	—		—		—	—	1,551	398	483
Discontinued operations:
(Loss) income from discontinued operations before income tax	—	—	—	(217	)	(1,645	)	341	—	—	—	—
Income tax (expense) benefit	—	—	—	—		—		—	—	—	—	—
(Loss) income from discontinued operations	—	—	—	(217	)	(1,645	)	341	—	—	—	—
Net (loss) income	618	—	305	(217	)	(1,645	)	341	—	1,551	398	483

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Statement of Operations

Six months ended June 30, 2004

Unaudited

(Dollars in thousands)

	MeriStar Sub 5J, LLC	MeriStar Sub 5Q, LLC	MeriStar Sub 5A, LLC		MeriStar Sub 8D, LLC		MeriStar Sub 4J, LLC	Meristar Pentagon City, LLC		MeriStar Sub 6K, LLC	MeriStar Sub 5E, LLC	MeriStar Sub 6I, LLC	MeriStar Sub 5I, LLC
Revenue:
Hotel operations:
Rooms	—	—	—		—		—	—		—	—	—	—
Food and beverage	—	—	—		—		—	—		—	—	—	—
Other hotel operations	—	—	—		—		—	—		—	—	—	—
Office rental parking and other revenue	—	—	60		—		104	—		—	—	—	—
Participating lease revenue	5,286	1,087	3,115		—		1,353	1,406		—	—	—	—
Total revenue	5,286	1,087	3,175		—		1,457	1,406		—	—	—	—
Hotel operating expenses:
Rooms	—	—	—		—		—	—		—	—	—	—
Food and beverage	—	—	—		—		—	—		—	—	—	—
Other operating departments	—	—	—		—		—	—		—	—	—	—
Office rental, parking and other expenses	—	—	—		—		216	—		—	—	—	—
Other operating expenses:
General and administrative, hotel	—	—	—		—		—	4		—	—	—	—
General and administrative, corporate	—	—	—		—		—	—		—	—	—	—
Property operating costs	—	—	—		—		—	—		—	—	—	—
Depreciation and amortization	2,810	294	532		—		632	355		—	—	—	—
Property taxes, insurance and other	873	154	390		—		172	177		—	—	—	—
Loss on asset impairments	—	—	—		—		—	—		—	—	—	—
Operating expenses	3,683	448	922		—		1,020	536		—	—	—	—
Equity in income/loss of and interest earned from unconsolidated affiliates	—	—	—		—		—	—		—	—	—	—
Hurricane business interruption insurance gain	—	—	—		—		—	—		—	—	—	—
Operating income (loss)	1,603	639	2,253		—		437	870		—	—	—	—
Minority interest	—	—	—		—		—	—		—	—	—	—
Interest expense, net	—	—	(1,417	)	—		—	(9	)	—	—	—	—
Loss on early extinguishments of debt	—	—	—		—		—	—		—	—	—	—
Equity in income from consolidated entities	—	—	—		—		—	—		—	—	—	—
(Loss) income before income taxes and discontinued operations	1,603	639	836		—		437	861		—	—	—	—
Income tax (expense) benefit	—	—	—		—		—	—		—	—	—	—
(Loss) income from continuing operations	1,603	639	836		—		437	861		—	—	—	—
Discontinued operations:
(Loss) income from discontinued operations before income tax	—	—	—		(857	)	—	—
Income tax (expense) benefit	—	—	—		—		—	—		—	—	—	—
(Loss) income from discontinued operations	—	—	—		(857	)	—	—		—	—	—	—
Net (loss) income	1,603	639	836		(857	)	437	861		—	—	—	—

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Statement of Operations

Six months ended June 30, 2004

Unaudited

(Dollars in thousands)

	CapStar Cherry Hill Company, LLC	Meristar Acquisition Company, LLC	MeriStar Sub 6A, LLC	MeriStar Sub 6F, LLC	MeriStar Hotel Lessee, Inc.		Guarantor Eliminations	Guarantor Subsidiaries Total		Eliminations		Total Consolidated
Revenue:
Hotel operations:
Rooms	—	—	—	—	265,197		—	265,197		—		265,197
Food and beverage	—	—	—	—	105,572		—	105,572		—		105,572
Other hotel operations	—	—	—	—	30,945		—	30,945		—		30,945
Office rental parking and other revenue	—	—	—	—	161		—	1,303		—		2,625
Participating lease revenue	—	—	—	—	—		—	49,057		(121,074	)	—
Total revenue	—	—	—	—	401,875		—	452,074		(121,074	)	404,339
Hotel operating expenses:
Rooms	—	—	—	—	64,153		—	64,153		—		64,153
Food and beverage	—	—	—	—	76,141		—	76,141		—		76,141
Other operating departments	—	—	—	—	19,323		—	19,323		—		19,323
Office rental, parking and other expenses	—	—	—	—	—		—	694		—		1,255
Other operating expenses:								—
General and administrative, hotel	—	—	—	—	61,921		—	61,925		—		61,946
General and administrative, corporate	—	—	—	—	90		—	90		—		7,106
Property operating costs	—	—	—	—	59,811		—	59,811		—		59,300
Depreciation and amortization	—	—	—	—	84		—	18,375		—		48,855
Property taxes, insurance and other	—	—	—	—	128,963		—	137,330		(121,074	)	31,345
Loss on asset impairments	—	—	—	—	—		—	—		—		310
Operating expenses	—	—	—	—	410,486		—	437,842		(121,074	)	369,734
Equity in income/loss of and interest earned from unconsolidated affiliates	—	—	—	—	—		—	—		—		3,200
Hurricane business interruption insurance gain	—	—	—	—	—		—	—		—		—
Operating income (loss)	—	—	—	—	(8,611	)	—	14,232		—		37,805
Minority interest	—	—	—	—	—		—	—		—		24
Interest expense, net	—	—	—	—	(3,526	)	—	(5,599	)	—		(64,592	)
Loss on early extinguishments of debt	—	—	—	—	—		—	—		—		(7,903	)
Equity in income from consolidated entities	—	—	—	—	—		—	—		(6,014	)	—
(Loss) income before income taxes and discontinued operations	—	—	—	—	(12,137	)	—	(8,633	)	(6,014	)	(34,666	)
Income tax (expense) benefit	—	—	—	—	—		—	—		—		373
(Loss) income from continuing operations	—	—	—	—	(12,137	)	—	8,633		(6,014	)	(34,293	)
Discontinued operations:
(Loss) income from discontinued operations before income tax					(19,030	)		(21,690	)	—		(18,747	)
Income tax (expense) benefit	—	—	—	—	—		—	—		—		102
(Loss) income from discontinued operations	—	—	—	—	(19,030	)	—	(21,690	)	—		(18,645	)
Net (loss) income	—	—	—	—	(31,167	)	—	(13,057	)	(6,014	)	(52,938	)

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Statement of Cash Flows

Six months ended June 30, 2005

Unaudited

(Dollars in thousands)

	MeriStar Hospitality OP, L.P.		Non-Guarantor Subsidiaries		MeriStar Lexington Mortgage, LLC		MeriStar Lexington Partners, LLC		MeriStar Sub 7C, LLC	MeriStar Sub 8G, LLC	AGH Upreit, LLC	MeriStar Sub 6H, L.P.		MeriStar Sub 8F, L.P.
Operating activities:
Net (loss) income	(12,335	)	19,565		2,824		(1,164	)	—	—	—	315		487
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	3,873		26,388		40		—		—	—	—	314		329
Loss on asset impairments	—		2,504		—		—		—	—	—	—		—
Loss on sale of assets, before tax effect	—		1,037		—		—		—	—	—	—		—
Loss on early extinguishments of debt	1,007		—		—		—		—	—	—	—		—
Minority interests	(2	)	—		—		—		—	—	—	—		—
Equity in earnings of consolidated entities	(30,284	)	—		—		—		—	—	—	—		—
Equity in loss of unconsolidated affiliates	—		—		—		1,164		—	—	—	—		—
Amortization of unearned stock-based compensation	542		—		—		—		—	—	—	—		—
Deferred income taxes	—		—		—		—		—	—	—	—		—
Changes in operating assets and liabilities:
Insurance claim receivable, less capital expenditure proceeds	35,098		—		—		—		—	—	—	—		—
Accounts receivable, net	(7,018	)	908		—		—		—	—	—	—		—
Prepaid expenses and other assets	10,974		(5,690	)	—		30		—	—	—	(20	)	(88	)
Receivables from unconsolidated affiliates	12,585		—		—		78		—	—	—	—		—
Due to Interstate Hotels & Resorts	(1,398	)	—		—		—		—	—	—	—		—
Accounts payable, accrued expenses, accrued interest and other liabilities	(4,470	)	1,506		—		—		—	—	—	43		154
Due from/to subsidiaries	262,934		(51,604	)	(1,760	)	(108	)	—	—	—	(620	)	(572	)
Net cash provided by (used in) operating activities	271,506		(5,386	)	1,104		—		—	—	—	32		310
Investing activities:
Acquisition of hotels, net of cash acquired	—		—		—		—		—	—	—	—		—
Capital expenditures for property and equipment	(2,591	)	(53,723	)	—		—		—	—	—	(32	)	(310	)
Proceeds from sales of assets	—		20,500		—		—		—	—	—	—		—
Insurance proceeds related to capital expenditures	6,500		—		—		—		—	—	—	—		—
Increase in restricted cash	(3,716	)	(546	)	—		—		—	—	—	—		—
Costs associated with disposition program and other, net	—		(459	)	—		—		—	—	—	—		—
Net cash (used in) provided by investing activities	193		(34,228	)	—		—		—	—	—	(32	)	(310	)
Financing activities:
Prepayments on long-term debt	(23,846	)	—		—		—		—	—	—	—		—
Scheduled payments on long-term debt	(4,009	)	—		(1,104	)	—		—	—	—	—		—
Proceeds from mortgage loans, net of financing costs	(50	)	39,614		—		—		—	—	—	—		—
Proceeds from debt issuance, net of issuance costs	—		—		—		—		—	—	—	—		—
Loans to/from subsidiaries	(218,939	)	—		—		—		—	—	—	—		—
Distributions to minority investors	—		—		—		—		—	—	—	—		—
Proceeds from OP units issuance, net of issuance costs	309		—		—		—		—	—	—	—		—
Purchase of subsidiary partnership interests	—		—		—		—		—	—	—	—		—
Repurchase of OP units under employee stock plans	(782	)	—		—		—		—	—	—	—		—
Other	—		—		—		—		—	—	—	—		—
Net cash (used in) provided by financing activities	(247,317	)	39,614		(1,104	)	—		—	—	—	—		—
Effect of exchange rate changes on cash and cash equivalents	—		—		—		—		—	—	—	—		—
Net increase (decrease) in cash and cash equivalents	24,382		—		—		—		—	—	—	—		—
Cash and cash equivalents, beginning of period	41,224		—		—		—		—	—	—	—		—
Cash and cash equivalents, end of period	65,606		—		—		—		—	—	—	—		—

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Statement of Cash Flows

Six months ended June 30, 2005

Unaudited

(Dollars in thousands)

	MeriStar Sub 8B, LLC		MeriStar Sub 1C, LLC		MeriStar Sub 8E, LLC		MeriStar Sub 7F, LLC		MeriStar Sub 5L, LLC		MeriStar Sub 3C, LLC			MeriStar Sub 5R, LLC	MeriStar Sub 8A, LLC	MeriStar Sub 6D, LLC
Operating activities:
Net (loss) income	2,194		(363	)	433		319		309		780			—	—	1,088
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	1,225		613		274		228		81		311			—	—	211
Loss on asset impairments	—		—		—		—		—		—			—	—	—
Loss on sale of assets, before tax effect	—		—		—		—		—		—			—	—	—
Loss on early extinguishments of debt	—		—		—		—		—		—			—	—	—
Minority interests	—		—		—		—		—		—			—	—	—
Equity in earnings of consolidated entities	—		—		—		—		—		—			—	—	—
Equity in loss of unconsolidated affiliates	—		—		—		—		—		—			—	—	—
Amortization of unearned stock-based compensation	—		—		—		—		—		—			—	—	—
Deferred income taxes	—		—		—		—		—		—			—	—	—
Changes in operating assets and liabilities:
Insurance claim receivable, less capital expenditure proceeds	—		—		—		—		—		—			—	—	—
Accounts receivable, net	(63	)	—		—		—		—		—			—	—	14
Prepaid expenses and other assets	(101	)	(227	)	(26	)	(18	)	(77	)	(21	)		—	—	(21	)
Receivables from unconsolidated affiliates	—		—		—		—		—		—			—	—	—
Due to Interstate Hotels & Resorts	—		—		—		—		—		—			—	—	—
Accounts payable, accrued expenses, accrued interest and other liabilities	(122	)	(5	)	3		3		43		2			—	—	(201	)
Due from/to subsidiaries	3,953		257		(551	)	(671	)	221		(943	)		—	—	(966	)
Net cash provided by (used in) operating activities	7,086		275		133		(139	)	577		129			—	—	125
Investing activities:
Acquisition of hotels, net of cash acquired	—		—		—		—		—		—		��	—	—	—
Capital expenditures for property and equipment	(7,086	)	(275	)	(133	)	139		(577	)	(129	)		—	—	(125	)
Proceeds from sales of assets	—		—		—		—		—		—			—	—	—
Insurance proceeds related to capital expenditures	—		—		—		—		—		—			—	—	—
Increase in restricted cash	—		—		—		—		—		—			—	—	—
Costs associated with disposition program and other, net	—		—		—		—		—		—			—	—	—
Net cash (used in) provided by investing activities	(7,086	)	(275	)	(133	)	139		(577	)	(129	)		—	—	(125	)
Financing activities:
Prepayments on long-term debt	—		—		—		—		—		—			—	—	—
Scheduled payments on long-term debt	—		—		—		—		—		—			—	—	—
Proceeds from mortgage loans, net of financing costs	—		—		—		—		—		—			—	—	—
Proceeds from debt issuance, net of issuance costs	—		—		—		—		—		—			—	—	—
Loans to/from subsidiaries	—		—		—		—		—		—			—	—	—
Distributions to minority investors	—		—		—		—		—		—			—	—	—
Proceeds from OP units issuance, net of issuance costs	—		—		—		—		—		—			—	—	—
Purchase of subsidiary partnership interests	—		—		—		—		—		—			—	—	—
Repurchase of OP units under employee stock plans	—		—		—		—		—		—			—	—	—
Other	—		—		—		—		—		—			—	—	—
Net cash (used in) provided by financing activities	—		—		—		—		—		—			—	—	—
Effect of exchange rate changes on cash and cash equivalents	—		—		—		—		—		—			—	—	—
Net increase (decrease) in cash and cash equivalents	—		—		—		—		—		—			—	—	—
Cash and cash equivalents, beginning of period	—		—		—		—		—		—			—	—	—
Cash and cash equivalents, end of period	—		—		—		—		—		—			—	—	—

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Statement of Cash Flows

Six months ended June 30, 2005

Unaudited

(Dollars in thousands)

	MeriStar Sub 6E, LLC		MeriStar Sub 4E, L.P.		MeriStar Sub 1B, LLC		MeriStar Sub 5F, L.P.		MeriStar Sub 6G, LLC		MeriStar Sub 8C, LLC	MeriStar Sub 4C, L.P.	MeriStar Sub 4H, L.P.	MeriStar Sub 7E, LLC
Operating activities:
Net (loss) income	1,631		—		798		1,012		1,634		—	—	—	327
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	702		—		275		308		338		—	—	—	288
Loss on asset impairments	—		—		—		—		—		—	—	—	—
Loss on sale of assets, before tax effect	—		—		—		—		—		—	—	—	—
Loss on early extinguishments of debt	—		—		—		—		—		—	—	—	—
Minority interests	—		—		—		—		—		—	—	—	—
Equity in earnings of consolidated entities	—		—		—		—		—		—	—	—	—
Equity in loss of unconsolidated affiliates	—		—		—		—		—		—	—	—	—
Amortization of unearned stock-based compensation	—		—		—		—		—		—	—	—	—
Deferred income taxes	—		—		—		—		—		—	—	—	—
Changes in operating assets and liabilities:
Insurance claim receivable, less capital expenditure proceeds	—		—		—		—		—		—	—	—	—
Accounts receivable, net	—		64		—		—		—		—	—	—	—
Prepaid expenses and other assets	(870	)	—		(84	)	(187	)	(35	)	—	—	—	(22	)
Receivables from unconsolidated affiliates	—		—		—		—		—		—	—	—	—
Due to Interstate Hotels & Resorts	—		—		—		—		—		—	—	—	—
Accounts payable, accrued expenses, accrued interest and other liabilities	301		(5	)	57		129		2		—	—	—	35
Due from/to subsidiaries	(33,210	)	(59	)	(108	)	8,810		(1,584	)	—	—	—	(444	)
Net cash provided by (used in) operating activities	(31,446	)	—		938		10,072		355		—	—	—	184
Investing activities:
Acquisition of hotels, net of cash acquired	—		—		—		—		—		—	—	—	—
Capital expenditures for property and equipment	(2,386	)	—		(933	)	(10,072	)	(355	)	—	—	—	(184	)
Proceeds from sales of assets	—		—		—		—		—		—	—	—	—
Insurance proceeds related to capital expenditures	—		—		—		—		—		—	—	—	—
Increase in restricted cash	(14	)	—		—		—		—		—	—	—	—
Costs associated with disposition program and other, net	—		—		—		—		—		—	—	—	—
Net cash (used in) provided by investing activities	(2,400	)	—		(933	)	(10,072	)	(355	)	—	—	—	(184	)
Financing activities:
Prepayments on long-term debt	—		—		—		—		—		—	—	—	—
Scheduled payments on long-term debt	—		—		(5	)	—		—		—	—	—	—
Proceeds from mortgage loans, net of financing costs	33,846		—		—		—		—		—	—	—	—
Proceeds from debt issuance, net of issuance costs	—		—		—		—		—		—	—	—	—
Loans to/from subsidiaries	—		—		—		—		—		—	—	—	—
Distributions to minority investors	—		—		—		—		—		—	—	—	—
Proceeds from OP units issuance, net of issuance costs	—		—		—		—		—		—	—	—	—
Purchase of subsidiary partnership interests	—		—		—		—		—		—	—	—	—
Repurchase of OP units under employee stock plans	—		—		—		—		—		—	—	—	—
Other	—		—		—		—		—		—	—	—	—
Net cash (used in) provided by financing activities	33,846		—		(5	)	—		—		—	—	—	—
Effect of exchange rate changes on cash and cash equivalents	—		—		—		—		—		—	—	—	—
Net increase (decrease) in cash and cash equivalents	—		—		—		—		—		—	—	—	—
Cash and cash equivalents, beginning of period	—		—		—		—		—		—	—	—	—
Cash and cash equivalents, end of period	—		—		—		—		—		—	—	—	—

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Statement of Cash Flows

Six months ended June 30, 2005

Unaudited

(Dollars in thousands)

	MeriStar Sub 3D, LLC		MeriStar Sub 1A, LLC		MeriStar Sub 7A Joint Venture		MeriStar Sub 2B, LLC	MeriStar Sub 3A, LLC	MeriStar Sub 4A, LP	MeriStar Sub 4D, LLC	MeriStar Sub 2A, LLC	MeriStar Sub 6L, LLC
Operating activities:
Net (loss) income	508		126		—		—	—	—	—	—	—
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	323		126		—		—	—	—	—	—	—
Loss on asset impairments	—		332		—		—	—	—	—	—	—
Loss on sale of assets, before tax effect	—		—		—		—	—	—	—	—	—
Loss on early extinguishments of debt	—		—		—		—	—	—	—	—	—
Minority interests	—		—		—		—	—	—	—	—	—
Equity in earnings of consolidated entities	—		—		—		—	—	—	—	—	—
Equity in loss of unconsolidated affiliates	—		—		—		—	—	—	—	—	—
Amortization of unearned stock-based compensation	—		—		—		—	—	—	—	—	—
Deferred income taxes	—		—		—		—	—	—	—	—	—
Changes in operating assets and liabilities:
Insurance claim receivable, less capital expenditure proceeds	—		—		—		—	—	—	—	—	—
Accounts receivable, net	—		—		(44	)	—	—	—	—	—	—
Prepaid expenses and other assets	(45	)	(145	)	—		—	—	—	—	—	—
Receivables from unconsolidated affiliates	—		—		—		—	—	—	—	—	—
Due to Interstate Hotels & Resorts	—		—		—		—	—	—	—	—	—
Accounts payable, accrued expenses, accrued interest and other liabilities	73		10		—		—	—	—	—	—	—
Due from/to subsidiaries	(135	)	(554	)	44		—	—	—	—	—	—
Net cash provided by (used in) operating activities	724		(105	)	—		—	—	—	—	—	—
Investing activities:
Acquisition of hotels, net of cash acquired	—		—		—		—	—	—	—	—	—
Capital expenditures for property and equipment	(724	)	105		—		—	—	—	—	—	—
Proceeds from sales of assets	—		—		—		—	—	—	—	—	—
Insurance proceeds related to capital expenditures	—		—		—		—	—	—	—	—	—
Increase in restricted cash	—		—		—		—	—	—	—	—	—
Costs associated with disposition program and other, net	—		—		—		—	—	—	—	—	—
Net cash (used in) provided by investing activities	(724	)	105		—		—	—	—	—	—	—
Financing activities:
Prepayments on long-term debt	—		—		—		—	—	—	—	—	—
Scheduled payments on long-term debt	—		—		—		—	—	—	—	—	—
Proceeds from mortgage loans, net of financing costs	—		—		—		—	—	—	—	—	—
Proceeds from debt issuance, net of issuance costs	—		—		—		—	—	—	—	—	—
Loans to/from subsidiaries	—		—		—		—	—	—	—	—	—
Distributions to minority investors	—		—		—		—	—	—	—	—	—
Proceeds from OP units issuance, net of issuance costs	—		—		—		—	—	—	—	—	—
Purchase of subsidiary partnership interests	—		—		—		—	—	—	—	—	—
Repurchase of OP units under employee stock plans	—		—		—		—	—	—	—	—	—
Other	—		—		—		—	—	—	—	—	—
Net cash (used in) provided by financing activities	—		—		—		—	—	—	—	—	—
Effect of exchange rate changes on cash and cash equivalents	—		—		—		—	—	—	—	—	—
Net increase (decrease) in cash and cash equivalents	—		—		—		—	—	—	—	—	—
Cash and cash equivalents, beginning of period	—		—		—		—	—	—	—	—	—
Cash and cash equivalents, end of period	—		—		—		—	—	—	—	—	—

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Statement of Cash Flows

Six months ended June 30, 2005

Unaudited

(Dollars in thousands)

	MDV Limited Partnership		MeriStar Sub 5C, LLC	MeriStar Sub 6J, LLC		MeriStar Sub 1D, LLC		MeriStar Sub 7B, L.P.	MeriStar Sub 7D, LLC		MeriStar Sub 7G, LLC	MeriStar Sub 6B, LLC		MeriStar Sub 4I, L.P.
Operating activities:
Net (loss) income	108		—	1,314		1,267		—	1,799		—	320		—
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	98		—	250		1,043		—	711		—	202		—
Loss on asset impairments	—		—	—		—		—	—		—	—		—
Loss on sale of assets, before tax effect	—		—	—		—		—	—		—	—		—
Loss on early extinguishments of debt	—		—	—		—		—	—		—	—		—
Minority interests	—		—	—		—		—	—		—	—		—
Equity in earnings of consolidated entities	—		—	—		—		—	—		—	—		—
Equity in loss of unconsolidated affiliates	—		—	—		—		—	—		—	—		—
Amortization of unearned stock-based compensation	—		—	—		—		—	—		—	—		—
Deferred income taxes	—		—	—		—		—	—		—	—		—
Changes in operating assets and liabilities:
Insurance claim receivable, less capital expenditure proceeds	—		—	—		—		—	—		—	—		—
Accounts receivable, net	—		—	—		—		—	(438	)	—	—		—
Prepaid expenses and other assets	(33	)	—	(19	)	(550	)	—	(52	)	—	(14	)	—
Receivables from unconsolidated affiliates	—		—	—		—		—	—		—	—		—
Due to Interstate Hotels & Resorts	—		—	—		—		—	—		—	—		—
Accounts payable, accrued expenses, accrued interest and other liabilities	(15	)	—	27		18		—	53		—	139		—
Due from/to subsidiaries	(97	)	—	(1,346	)	(300	)	—	(972	)	—	(321	)	—
Net cash provided by (used in) operating activities	61		—	226		1,478		—	1,101		—	326		—
Investing activities:
Acquisition of hotels, net of cash acquired	—		—	—		—		—	—		—	—		—
Capital expenditures for property and equipment	(61	)	—	(226	)	(1,478	)	—	(1,101	)	—	(326	)	—
Proceeds from sales of assets	—		—	—		—		—	—		—	—		—
Insurance proceeds related to capital expenditures	—		—	—		—		—	—		—	—		—
Increase in restricted cash	—		—	—		—		—	—		—	—		—
Costs associated with disposition program and other, net	—		—	—		—		—	—		—	—		—
Net cash (used in) provided by investing activities	(61	)	—	(226	)	(1,478	)	—	(1,101	)	—	(326	)	—
Financing activities:
Prepayments on long-term debt	—		—	—		—		—	—		—	—		—
Scheduled payments on long-term debt	—		—	—		—		—	—		—	—		—
Proceeds from mortgage loans, net of financing costs	—		—	—		—		—	—		—	—		—
Proceeds from debt issuance, net of issuance costs	—		—	—		—		—	—		—	—		—
Loans to/from subsidiaries	—		—	—		—		—	—		—	—		—
Distributions to minority investors	—		—	—		—		—	—		—	—		—
Proceeds from OP units issuance, net of issuance costs	—		—	—		—		—	—		—	—		—
Purchase of subsidiary partnership interests	—		—	—		—		—	—		—	—		—
Repurchase of OP units under employee stock plans	—		—	—		—		—	—		—	—		—
Other	—		—	—		—		—	—		—	—		—
Net cash (used in) provided by financing activities	—		—	—		—		—	—		—	—		—
Effect of exchange rate changes on cash and cash equivalents	—		—	—		—		—	—		—	—		—
Net increase (decrease) in cash and cash equivalents	—		—	—		—		—	—		—	—		—
Cash and cash equivalents, beginning of period	—		—	—		—		—	—		—	—		—
Cash and cash equivalents, end of period	—		—	—		—		—	—		—	—		—

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Statement of Cash Flows

Six months ended June 30, 2005

Unaudited

(Dollars in thousands)

	MeriStar Sub 5D, LLC		MeriStar Sub 5H, LLC	MeriStar Sub 7H, LLC	AGH PSS I, Inc.	MeriStar Sub 2D, LLC	MeriStar Sub 4F, L.P.		MeriStar Sub 5K, LLC	MeriStar Sub 5M, LLC		MeriStar Sub 1E, LLC
Operating activities:
Net (loss) income	(549	)	—	—	—	—	342		—	612		—
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	679		—	—	—	—	503		—	134		—
Loss on asset impairments	—		—	—	—	—	—		—	—		—
Loss on sale of assets, before tax effect	—		—	—	—	—	—		—	—		—
Loss on early extinguishments of debt	—		—	—	—	—	—		—	—		—
Minority interests	—		—	—	—	—	—		—	—		—
Equity in earnings of consolidated entities	—		—	—	—	—	—		—	—		—
Equity in loss of unconsolidated affiliates	—		—	—	—	—	—		—	—		—
Amortization of unearned stock-based compensation	—		—	—	—	—	—		—	—		—
Deferred income taxes	—		—	—	—	—	—		—	—		—
Changes in operating assets and liabilities:
Insurance claim receivable, less capital expenditure proceeds	—		—	—	—	—	—		—	—		—
Accounts receivable, net	—		—	—	—	—	—		—	—		—
Prepaid expenses and other assets	(94	)	—	—	—	—	(38	)	—	(118	)	—
Receivables from unconsolidated affiliates	—		—	—	—	—	—		—	—		—
Due to Interstate Hotels & Resorts	—		—	—	—	—	—		—	—		—
Accounts payable, accrued expenses, accrued interest and other liabilities	139		—	—	—	—	(172	)	—	103		—
Due from/to subsidiaries	(93	)	—	—	—	—	(60	)	—	1,956		—
Net cash provided by (used in) operating activities	82		—	—	—	—	575		—	2,687		—
Investing activities:
Acquisition of hotels, net of cash acquired	—		—	—	—	—	—		—	—		—
Capital expenditures for property and equipment	55		—	—	—	—	(575	)	—	(2,687	)	—
Proceeds from sales of assets	—		—	—	—	—	—		—	—		—
Insurance proceeds related to capital expenditures	—		—	—	—	—	—		—	—		—
Increase in restricted cash	—		—	—	—	—	—		—	—		—
Costs associated with disposition program and other, net	(137	)	—	—	—	—	—		—	—		—
Net cash (used in) provided by investing activities	(82	)	—	—	—	—	(575	)	—	(2,687	)	—
Financing activities:
Prepayments on long-term debt	—		—	—	—	—	—		—	—		—
Scheduled payments on long-term debt	—		—	—	—	—	—		—	—		—
Proceeds from mortgage loans, net of financing costs	—		—	—	—	—	—		—	—		—
Proceeds from debt issuance, net of issuance costs	—		—	—	—	—	—		—	—		—
Loans to/from subsidiaries	—		—	—	—	—	—		—	—		—
Distributions to minority investors	—		—	—	—	—	—		—	—		—
Proceeds from OP units issuance, net of issuance costs	—		—	—	—	—	—		—	—		—
Purchase of subsidiary partnership interests	—		—	—	—	—	—		—	—		—
Repurchase of OP units under employee stock plans	—		—	—	—	—	—		—	—		—
Other	—		—	—	—	—	—		—	—		—
Net cash (used in) provided by financing activities	—		—	—	—	—	—		—	—		—
Effect of exchange rate changes on cash and cash equivalents	—		—	—	—	—	—		—	—		—
Net increase (decrease) in cash and cash equivalents	—		—	—	—	—	—		—	—		—
Cash and cash equivalents, beginning of period	—		—	—	—	—	—		—	—		—
Cash and cash equivalents, end of period	—		—	—	—	—	—		—	—		—

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Statement of Cash Flows

Six months ended June 30, 2005

Unaudited

(Dollars in thousands)

	MeriStar Sub 5O, LLC		MeriStar Sub 4B, L.P.	MeriStar Sub 2C, LLC	MeriStar Sub 4G, L.P.	MeriStar Sub 3B, LLC	MeriStar Sub 5G, L.P.		MeriStar Sub 5N, LLC		MeriStar Sub 5P, LLC		MeriStar Sub 5J, LLC
Operating activities:
Net (loss) income	17		—	—	—	—	3,053		80		84		(1,433	)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	70		—	—	—	—	3,102		38		2		1,821
Loss on asset impairments	—		—	—	—	—	—		—		—		—
Loss on sale of assets, before tax effect	—		—	—	—	—	—		—		—		—
Loss on early extinguishments of debt	—		—	—	—	—	—		—		—		—
Minority interests	—		—	—	—	—	—		—		—		—
Equity in earnings of consolidated entities	—		—	—	—	—	—		—		—		—
Equity in loss of unconsolidated affiliates	—		—	—	—	—	—		—		—		—
Amortization of unearned stock-based compensation	—		—	—	—	—	—		—		—		—
Deferred income taxes	—		—	—	—	—	—		—		—		—
Changes in operating assets and liabilities:
Insurance claim receivable, less capital expenditure proceeds	—		—	—	—	—	—		—		—		—
Accounts receivable, net	—		—	—	—	—	—		—		—		—
Prepaid expenses and other assets	(39	)	—	—	—	—	(684	)	(45	)	(10	)	(904	)
Receivables from unconsolidated affiliates	—		—	—	—	—	—		—		—		—
Due to Interstate Hotels & Resorts	—		—	—	—	—	—		—		—		—
Accounts payable, accrued expenses, accrued interest and other liabilities	37		—	—	—	—	571		36		—		330
Due from/to subsidiaries	1,985		—	—	—	—	(2,262	)	1,194		(76	)	10,986
Net cash provided by (used in) operating activities	2,070		—	—	—	—	3,780		1,303		—		10,800
Investing activities:
Acquisition of hotels, net of cash acquired	—		—	—	—	—	—		—		—		—
Capital expenditures for property and equipment	(2,070	)	—	—	—	—	(3,780	)	(1,303	)	—		(10,800	)
Proceeds from sales of assets	—		—	—	—	—	—		—		—		—
Insurance proceeds related to capital expenditures	—		—	—	—	—	—		—		—		—
Increase in restricted cash	—		—	—	—	—	—		—		—		—
Costs associated with disposition program and other, net	—		—	—	—	—	—		—		—		—
Net cash (used in) provided by investing activities	(2,070	)	—	—	—	—	(3,780	)	(1,303	)	—		(10,800	)
Financing activities:
Prepayments on long-term debt	—		—	—	—	—	—		—		—		—
Scheduled payments on long-term debt	—		—	—	—	—	—		—		—		—
Proceeds from mortgage loans, net of financing costs	—		—	—	—	—	—		—		—		—
Proceeds from debt issuance, net of issuance costs	—		—	—	—	—	—		—		—		—
Loans to/from subsidiaries	—		—	—	—	—	—		—		—		—
Distributions to minority investors	—		—	—	—	—	—		—		—		—
Proceeds from OP units issuance, net of issuance costs	—		—	—	—	—	—		—		—		—
Purchase of subsidiary partnership interests	—		—	—	—	—	—		—		—		—
Repurchase of OP units under employee stock plans	—		—	—	—	—	—		—		—		—
Other	—		—	—	—	—	—		—		—		—
Net cash (used in) provided by financing activities	—		—	—	—	—	—		—		—		—
Effect of exchange rate changes on cash and cash equivalents	—		—	—	—	—	—		—		—		—
Net increase (decrease) in cash and cash equivalents	—		—	—	—	—	—		—		—		—
Cash and cash equivalents, beginning of period	—		—	—	—	—	—		—		—		—
Cash and cash equivalents, end of period	—		—	—	—	—	—		—		—		—

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Statement of Cash Flows

Six months ended June 30, 2005

Unaudited

(Dollars in thousands)

	MeriStar Sub 5Q, LLC		MeriStar Sub 5A, LLC		MeriStar Sub 8D, LLC		MeriStar Sub 4J, LLC		Meristar Pentagon City, LLC		MeriStar Sub 6K, LLC	MeriStar Sub 5E, LLC	MeriStar Sub 6I, LLC	MeriStar Sub 5I, LLC
Operating activities:
Net (loss) income	621		1,170		—		436		961		—	—	—	—
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	246		525		—		650		2,620		—	—	—	—
Loss on asset impairments	—		—		—		—		—		—	—	—	—
Loss on sale of assets, before tax effect	—		—		—		—		—		—	—	—	—
Loss on early extinguishments of debt	—		—		—		—		—		—	—	—	—
Minority interests	—		—		—		—		—		—	—	—	—
Equity in earnings of consolidated entities	—		—		—		—		—		—	—	—	—
Equity in loss of unconsolidated affiliates	—		—		—		—		—		—	—	—	—
Amortization of unearned stock-based compensation	—		—		—		—		—		—	—	—	—
Deferred income taxes	—		—		—		—		—		—	—	—	—
Changes in operating assets and liabilities:
Insurance claim receivable, less capital expenditure proceeds	—		—		—		—		—		—	—	—	—
Accounts receivable, net	—		—		359		—		547		—	—	—	—
Prepaid expenses and other assets	(137	)	(78	)	—		(51	)	87		—	—	—	—
Receivables from unconsolidated affiliates	—		—		—		—		—		—	—	—	—
Due to Interstate Hotels & Resorts	—		—		—		—		—		—	—	—	—
Accounts payable, accrued expenses, accrued interest and other liabilities	64		353		—		13		591		—	—	—	—
Due from/to subsidiaries	1,143		(1,169	)	(359	)	909		(3,563	)	—	—	—	—
Net cash provided by (used in) operating activities	1,937		801		—		1,957		1,243		—	—	—	—
Investing activities:
Acquisition of hotels, net of cash acquired	—		—		—		—		—		—	—	—	—
Capital expenditures for property and equipment	(1,937	)	(801	)	—		(1,957	)	(884	)	—	—	—	—
Proceeds from sales of assets	—		—		—		—		—		—	—	—	—
Insurance proceeds related to capital expenditures	—		—		—		—		—		—	—	—	—
Increase in restricted cash	—		—		—		—		—		—	—	—	—
Costs associated with disposition program and other, net	—		—		—		—		—		—	—	—	—
Net cash (used in) provided by investing activities	(1,937	)	(801	)	—		(1,957	)	(884	)	—	—	—	—
Financing activities:
Prepayments on long-term debt	—		—		—		—		—		—	—	—	—
Scheduled payments on long-term debt	—		—		—		—		(359	)	—	—	—	—
Proceeds from mortgage loans, net of financing costs	—		—		—		—		—		—	—	—	—
Proceeds from debt issuance, net of issuance costs	—		—		—		—		—		—	—	—	—
Loans to/from subsidiaries	—		—		—		—		—		—	—	—	—
Distributions to miniority investors	—		—		—		—		—		—	—	—	—
Proceeds from OP units issuance, net of issuance costs	—		—		—		—		—		—	—	—	—
Purchase of subsidiary partnership interests	—		—		—		—		—		—	—	—	—
Repurchase of OP units under employee stock plans	—		—		—		—		—		—	—	—	—
Other	—		—		—		—		—		—	—	—	—
Net cash (used in) provided by financing activities	—		—		—		—		(359	)	—	—	—	—
Effect of exchange rate changes on cash and cash equivalents	—		—		—		—		—		—	—	—	—
Net increase (decrease) in cash and cash equivalents	—		—		—		—		—		—	—	—	—
Cash and cash equivalents, beginning of period	—		—		—		—		—		—	—	—	—
Cash and cash equivalents, end of period	—		—		—		—		—

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Statement of Cash Flows

Six months ended June 30, 2005

Unaudited

(Dollars in thousands)

	CapStar Cherry Hill Company, LLC	Meristar Acquisition Company, LLC	MeriStar Sub 6A, LLC	MeriStar Sub 6F, LLC	MeriStar Hotel Lessee, Inc.		Guarantor Eliminations		Guarantor Subsidiaries Total		Eliminations		Total Consolidated
Operating activities:
Net (loss) income	—	—	—	—	(9,917	)	(2,824	)	10,719		(30,284	)	(12,335	)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	—	—	—	—	—		—		18,680		—		48,941
Loss on asset impairments	—	—	—	—	—		—		332		—		2,836
Loss on sale of assets, before tax effect	—	—	—	—	—		—		—		—		1,037
Loss on early extinguishments of debt	—	—	—	—	—		—		—		—		1,007
Minority interests	—	—	—	—	—		—		—		—		(2	)
Equity in earnings of consolidated entities	—	—	—	—	—		—		—		30,284		—
Equity in loss of unconsolidated affiliates	—	—	—	—	—		—		1,164		—		1,164
Amortization of unearned stock-based compensation	—	—	—	—	—		—		—		—		542
Deferred income taxes	—	—	—	—	—		—		—		—		—
Changes in operating assets and liabilities:
Insurance claim receivable, less capital expenditure proceeds	—	—	—	—	—		—		—		—		35,098
Accounts receivable, net	—	—	—	—	(10,580	)	—		(10,141	)	6,980		(9,271	)
Prepaid expenses and other assets	—	—	—	—	173		—		(4,563	)	—		721
Receivables from unconsolidated affiliates	—	—	—	—	—		—		78		—		12,663
Due to Interstate Hotels & Resorts	—	—	—	—	(7,000	)	—		(7,000	)	—		(8,398	)
Accounts payable, accrued expenses, accrued interest and other liabilities	—	—	—	—	7,450		—		10,259		(6,980	)	315
Due from/to subsidiaries	—	—	—	—	(192,709	)	2,824		(211,330	)	—		—
Net cash provided by (used in) operating activities	—	—	—	—	(212,583	)	—		(191,802	)	—		74,318
Investing activities:
Acquisition of hotels, net of cash acquired	—	—	—	—	—		—		—		—		—
Capital expenditures for property and equipment	—	—	—	—	—		—		(53,008	)	—		(109,322	)
Proceeds from sales of assets	—	—	—	—	—		—		—		—		20,500
Insurance proceeds related to capital expenditures	—	—	—	—	—		—		—		—		6,500
Increase in restricted cash	—	—	—	—	(304	)	—		(318	)	—		(4,580	)
Costs associated with disposition program and other, net	—	—	—	—	—		—		(137	)	—		(596	)
Net cash (used in) provided by investing activities	—	—	—	—	(304	)	—		(53,463	)	—		(87,498	)
Financing activities:
Prepayments on long-term debt	—	—	—	—	—		—		—		—		(23,846	)
Scheduled payments on long-term debt	—	—	—	—	—		—		(1,468	)	—		(5,477	)
Proceeds from mortgage loans, net of financing costs	—	—	—	—	—		—		33,846		—		73,410
Proceeds from debt issuance, net of issuance costs	—	—	—	—	—		—		—		—		—
Loans to/from subsidiaries	—	—	—	—	218,939		—		218,939		—		—
Distributions to miniority investors	—	—	—	—	—		—		—		—		—
Proceeds from OP units issuance, net of issuance costs	—	—	—	—	—		—		—		—		309
Purchase of subsidiary partnership interests	—	—	—	—	—		—		—		—		—
Repurchase of OP units under employee stock plans	—	—	—	—	—		—		—		—		(782	)
Other	—	—	—	—	—		—		—		—		—
Net cash (used in) provided by financing activities	—	—	—	—	218,939		—		251,317		—		43,614
Effect of exchange rate changes on cash and cash equivalents	—	—	—	—	—		—		—		—		—
Net increase (decrease) in cash and cash equivalents	—	—	—	—	6,052		—		6,052		—		30,434
Cash and cash equivalents, beginning of period	—	—	—	—	19,309		—		19,309		—		60,533
Cash and cash equivalents, end of period					25,361				25,361		—		90,967

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Statement of Cash Flow

Six months ended June 30, 2004

Unaudited

(Dollars in thousands)

	MeriStar Hospitality OP, L.P.		Non-Guarantor Subsidiaries		MeriStar Sub 7C, LLC	MeriStar Sub 8G, LLC	AGH Upreit, LLC	MeriStar Sub 6H, L.P.		MeriStar Sub 8F, L.P.		MeriStar Sub 8B, LLC		MeriStar Sub 1C, LLC
Operating activities:
Net (loss) income	(52,938	)	19,071		—	—	—	312		568		1,974		(350	)
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:
Depreciation and amortization	6,237		25,793		—	—	—	313		329		1,197		697
Loss on asset impairments	—		3,763		—	—	—	—		—		—		—
Loss on sale of assets, before tax effect	226		(833	)	—	—	—	—		—		—		—
Loss on early extinguishments of debt	7,903		—		—	—	—	—		—		—		—
Minority interests	(24	)	—		—	—	—	—		—		—		—
Equity in earnings of consolidated entities	(6,014	)	—		—	—	—	—		—		—		—
Equity in loss of unconsolidated affiliate	—		—		—	—	—	—		—		—		—
Amortization of unearned stock-based compensation	1,090		—		—	—	—	—		—		—		—
Deferred income taxes	(652	)	—		—	—	—	—		—		—		—
Changes in operating assets and liabilities:
Insurance claim receivable, less capital expenditure proceeds	—		—		—	—	—	—		—		—		—
Accounts receivable, net	(3,230	)	149		—	—	—	—		—		—		—
Prepaid expenses and other assets	(1,221	)	2,738		—	—	—	6		22		34		59
Receivables from unconsolidated affiliates	(4,916	)	—		—	—	—	—		—		—		—
Due to Interstate Hotels & Resorts	6,808		—		—	—	—	—		—		—		—
Accounts payable, accrued expenses, accrued interest and other liabilities	(12,214	)	707		—	—	—	(118	)	(29	)	(107	)	(16	)
Due to/from subsidiaries	46,887		(26,984	)	—	—	—	(512	)	(857	)	1,684		(134	)
Net cash (used in) provided by operating activities	(12,058	)	24,404		—	—	—	1		33		4,782		256
Investing activities:
Acquisition of hotels, net of cash acquired	—		(92,140	)	—	—	—	—		—		—		—
Capital expenditures for property and equipment	(1,215	)	(23,254	)	—	—	—	(1	)	(33	)	(4,782	)	(256	)
Proceeds from sales of assets	—		42,075		—	—	—	—		—		—		—
Insurance proceeds related to capital expenditures	—		—		—	—	—	—		—		—		—
(Increase) decrease in restricted cash	(27,774	)	309		—	—	—	—		—		—		—
Costs associated with disposition program and other, net	84		(1,654	)	—	—	—	—		—		—		—
Net cash (used in) provided by investing activities	(28,905	)	(74,664	)	—	—	—	(1	)	(33	)	(4,782	)	(256	)
Financing activities:
Prepayments on long-term debt	(85,319	)	(807	)	—	—	—	—		—		—		—
Scheduled payments on long-term debt	—		(3,691	)	—	—	—	—		—		—		—
Proceeds from mortgage loans, net of financing costs	—		—		—	—	—	—		—		—		—
Proceeds from debt issuance, net of issuance costs	(347	)	54,758		—	—	—	—		—		—		—
Loans to/from subsidiaries	(29,460	)	—		—	—	—	—		—		—		—
Distributions to minority investors	(141	)	—		—	—	—	—		—		—		—
Proceeds from OP units issuance, net of issuance costs	72,340		—		—	—	—	—		—		—		—
Purchase of subsidiary partnership interests	(8,690	)	—		—	—	—	—		—		—		—
Repurchase of OP units under employee stock plans	(160	)	—		—	—	—	—		—		—		—
Other	(165	)	—		—	—	—	—		—		—		—
Net cash (used in) provided by financing activities	(51,942	)	50,260		—	—	—	—		—		—		—
Effect of exchange rate changes on cash and cash equivalents	(227	)	—		—	—	—	—		—		—		—
Net increase (decrease) in cash and cash equivalents	(93,132	)	—		—	—	—	—		—		—		—
Cash and cash equivalents, beginning of period	218,645		—		—	—	—	—		—		—		—
Cash and cash equivalents, end of period	125,513		—		—	—	—	—		—		—		—

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Statement of Cash Flow

Six months ended June 30, 2004

Unaudited

(Dollars in thousands)

	MeriStar Sub 8E, LLC		MeriStar Sub 7F, LLC		MeriStar Sub 5L, LLC		MeriStar Sub 3C, LLC		MeriStar Sub 5R, LLC	MeriStar Sub 8A, LLC	MeriStar Sub 6D, LLC		MeriStar Sub 6E, LLC		MeriStar Sub 4E, L.P.
Operating activities:
Net (loss) income	376		319		477		458		—	—	679		1,894		(721	)
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:
Depreciation and amortization	298		170		77		356		—	—	273		825		149
Loss on asset impairments	—		—		—		—		—	—	—		—		981
Loss on sale of assets, before tax effect	—		—		—		—		—	—	—		—		—
Loss on early extinguishments of debt	—		—		—		—		—	—	—		—		—
Minority interests	—		—		—		—		—	—	—		—		—
Equity in earnings of consolidated entities	—		—		—		—		—	—	—		—		—
Equity in loss of unconsolidated affiliate	—		—		—		—		—	—	—		—		—
Amortization of unearned stock-based compensation	—		—		—		—		—	—	—		—		—
Deferred income taxes	—		—		—		—		—	—	—		—		—
Changes in operating assets and liabilities:
Insurance claim receivable, less capital expenditure proceeds	—		—		—		—		—	—	—		—		—
Accounts receivable, net	—		—		—		—		—	—	5		—		—
Prepaid expenses and other assets	9		6		29		9		—	—	7		31		20
Receivables from unconsolidated affiliates	—		—		—		—		—	—	—		—		—
Due to Interstate Hotels & Resorts	—		—		—		—		—	—	—		—		—
Accounts payable, accrued expenses, accrued interest and other liabilities	9		(51	)	63		72		—	—	98		268		(147	)
Due to/from subsidiaries	(576	)	(400	)	(435	)	(884	)	—	—	(590	)	(598	)	(244	)
Net cash (used in) provided by operating activities	116		44		211		11		—	—	472		2,420		38
Investing activities:
Acquisition of hotels, net of cash acquired	—		—		—		—		—	—	—		—		—
Capital expenditures for property and equipment	(116	)	(44	)	(211	)	(11	)	—	—	(472	)	(2,420	)	(38	)
Proceeds from sales of assets	—		—		—		—		—	—	—		—		—
Insurance proceeds related to capital expenditures	—		—		—		—		—	—	—		—		—
(Increase) decrease in restricted cash	—		—		—		—		—	—	—		—		—
Costs associated with disposition program and other, net	—		—		—		—		—	—	—		—		—
Net cash (used in) provided by investing activities	(116	)	(44	)	(211	)	(11	)	—	—	(472	)	(2,420	)	(38	)
Financing activities:
Prepayments on long-term debt	—		—		—		—		—	—	—		—		—
Scheduled payments on long-term debt	—		—		—		—		—	—	—		—		—
Proceeds from mortgage loans, net of financing costs	—		—		—		—		—	—	—		—		—
Proceeds from debt issuance, net of issuance costs	—		—		—		—		—	—	—		—		—
Loans to/from subsidiaries	—		—		—		—		—	—	—		—		—
Distributions to minority investors	—		—		—		—		—	—	—		—		—
Proceeds from OP units issuance, net of issuance costs	—		—		—		—		—	—	—		—		—
Purchase of subsidiary partnership interests	—		—		—		—		—	—	—		—		—
Repurchase of OP units under employee stock plans	—		—		—		—		—	—	—		—		—
Other	—		—		—		—		—	—	—		—		—
Net cash (used in) provided by financing activities	—		—		—		—		—	—	—		—		—
Effect of exchange rate changes on cash and cash equivalents	—		—		—		—		—	—	—		—		—
Net increase (decrease) in cash and cash equivalents	—		—		—		—		—	—	—		—		—
Cash and cash equivalents, beginning of period	—		—		—		—		—	—	—		—		—
Cash and cash equivalents, end of period	—		—		—		—		—	—	—		—		—

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Statement of Cash Flow

Six months ended June 30, 2004

Unaudited

(Dollars in thousands)

	MeriStar Sub 1B, LLC		MeriStar Sub 5F, L.P.		MeriStar Sub 6G, LLC		MeriStar Sub 8C, LLC		MeriStar Sub 4C, L.P.	MeriStar Sub 4H, L.P.		MeriStar Sub 7E, LLC		MeriStar Sub 3D, LLC		MeriStar Sub 1A, LLC
Operating activities:
Net (loss) income	815		851		1,354		(61	)	—	(403	)	277		246		(167	)
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:
Depreciation and amortization	249		391		362		—		—	43		313		382		197
Loss on asset impairments	—		—		—		—		—	—		—		—		544
Loss on sale of assets, before tax effect	—		—		—		110		—	365		—		—		—
Loss on early extinguishments of debt	—		—		—		—		—	—		—		—		—
Minority interests	—		—		—		—		—	—		—		—		—
Equity in earnings of consolidated entities	—		—		—		—		—	—		—		—		—
Equity in loss of unconsolidated affiliate	—		—		—		—		—	—		—		—		—
Amortization of unearned stock-based compensation	—		—		—		—		—	—		—		—		—
Deferred income taxes	—		—		—		—		—	—		—		—		—
Changes in operating assets and liabilities:
Insurance claim receivable, less capital expenditure proceeds	—		—		—		—		—	—		—		—		—
Accounts receivable, net	—		—		—		—		—	—		—		—		—
Prepaid expenses and other assets	28		62		12		117		—	(8	)	7		15		30
Receivables from unconsolidated affiliates	—		—		—		—		—	—		—		—		—
Due to Interstate Hotels & Resorts	—		—		—		—		—	—		—		—		—
Accounts payable, accrued expenses, accrued interest and other liabilities	(44	)	23		142		839		—	(236	)	34		54		44
Due to/from subsidiaries	(329	)	690		(1,565	)	(6,603	)	—	(4,133	)	938		(553	)	(637	)
Net cash (used in) provided by operating activities	719		2,017		305		(5,598	)	—	(4,372	)	1,569		144		11
Investing activities:
Acquisition of hotels, net of cash acquired	—		—		—		—		—	—		—		—		—
Capital expenditures for property and equipment	(719	)	(2,017	)	(305	)	711		—	(87	)	(1,569	)	(144	)	(11	)
Proceeds from sales of assets	—		—		—		5,000		—	4,650		—		—		—
Insurance proceeds related to capital expenditures	—		—		—		—		—	—		—		—		—
(Increase) decrease in restricted cash	—		—		—		—		—	—		—		—		—
Costs associated with disposition program and other, net	—		—		—		(113	)	—	(191	)	—		—		—
Net cash (used in) provided by investing activities	(719	)	(2,017	)	(305	)	5,598		—	4,372		(1,569	)	(144	)	(11	)
Financing activities:
Prepayments on long-term debt	—		—		—		—		—	—		—		—		—
Scheduled payments on long-term debt	—		—		—		—		—	—		—		—		—
Proceeds from mortgage loans, net of financing costs	—		—		—		—		—	—		—		—		—
Proceeds from debt issuance, net of issuance costs	—		—		—		—		—	—		—		—		—
Loans to/from subsidiaries	—		—		—		—		—	—		—		—		—
Distributions to minority investors	—		—		—		—		—	—		—		—		—
Proceeds from OP units issuance, net of issuance costs	—		—		—		—		—	—		—		—		—
Purchase of subsidiary partnership interests	—		—		—		—		—	—		—		—		—
Repurchase of OP units under employee stock plans	—		—		—		—		—	—		—		—		—
Other	—		—		—		—		—	—		—		—		—
Net cash (used in) provided by financing activities	—		—		—		—		—	—		—		—		—
Effect of exchange rate changes on cash and cash equivalents	—		—		—		—		—	—		—		—		—
Net increase (decrease) in cash and cash equivalents	—		—		—		—		—	—		—		—		—
Cash and cash equivalents, beginning of period	—		—		—		—		—	—		—		—		—
Cash and cash equivalents, end of period	—		—		—		—		—	—		—		—		—

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Statement of Cash Flow

Six months ended June 30, 2004

Unaudited

(Dollars in thousands)

	MeriStar Sub 7A Joint Venture		MeriStar Sub 2B, LLC		MeriStar Sub 3A, LLC		MeriStar Sub 4A, LP		MeriStar Sub 4D, LLC		MeriStar Sub 2A, LLC		MeriStar Sub 6L, LLC		MDV Limited Partnership		MeriStar Sub 5C, LLC
Operating activities:
Net (loss) income	(713	)	—		89		97		—		—		1,852		130		—
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:
Depreciation and amortization	121		—		51		—		—		—		—		70		—
Loss on asset impairments	1,005		—		—		—		—		—		—		—		—
Loss on sale of assets, before tax effect	—		—		(20	)	45		—		—		(1,827	)	—		—
Loss on early extinguishments of debt	—		—		—		—		—		—		—		—		—
Minority interests	—		—		—		—		—		—		—		—		—
Equity in earnings of consolidated entities	—		—		—		—		—		—		—		—		—
Equity in loss of unconsolidated affiliate	—		—		—		—		—		—		—		—		—
Amortization of unearned stock-based compensation	—		—		—		—		—		—		—		—		—
Deferred income taxes	—		—		—		—		—		—		—		—		—
Changes in operating assets and liabilities:
Insurance claim receivable, less capital expenditure proceeds	—		—		—		—		—		—		—		—		—
Accounts receivable, net	—		2,345		—		—		—		2,002		(178	)	—		2
Prepaid expenses and other assets	10		—		1		(9	)	3		—		14		9		(4	)
Receivables from unconsolidated affiliates	—		—		—		—		—		—		—		—		—
Due to Interstate Hotels & Resorts	—		—		—		—		—		—		—		—		—
Accounts payable, accrued expenses, accrued interest and other liabilities	27		—		(104	)	(400	)	—		—		(109	)	6		—
Due to/from subsidiaries	(428	)	(2,345	)	(2,993	)	(2,860	)	(3	)	(2,002	)	(13,739	)	(165	)	2
Net cash (used in) provided by operating activities	22		—		(2,976	)	(3,127	)	—		—		(13,987	)	50		—
Investing activities:
Acquisition of hotels, net of cash acquired	—		—		—		—		—		—		—		—		—
Capital expenditures for property and equipment	(22	)	—		(83	)	(194	)	—		—		(319	)	(50	)	—
Proceeds from sales of assets	—		—		3,300		3,575		—		—		14,775		—		—
Insurance proceeds related to capital expenditures	—		—		—		—		—		—		—		—		—
(Increase) decrease in restricted cash	—		—		—		—		—		—		—		—		—
Costs associated with disposition program and other, net	—		—		(241	)	(254	)	—		—		(469	)	—		—
Net cash (used in) provided by investing activities	(22	)	—		2,976		3,127		—		—		13,987		(50	)	—
Financing activities:
Prepayments on long-term debt	—		—		—		—		—		—		—		—		—
Scheduled payments on long-term debt	—		—		—		—		—		—		—		—		—
Proceeds from mortgage loans, net of financing costs	—		—		—		—		—		—		—		—		—
Proceeds from debt issuance, net of issuance costs	—		—		—		—		—		—		—		—		—
Loans to/from subsidiaries	—		—		—		—		—		—		—		—		—
Distributions to minority investors	—		—		—		—		—		—		—		—		—
Proceeds from OP units issuance, net of issuance costs	—		—		—		—		—		—		—		—		—
Purchase of subsidiary partnership interests	—		—		—		—		—		—		—		—		—
Repurchase of OP units under employee stock plans	—		—		—		—		—		—		—		—		—
Other	—		—		—		—		—		—		—		—		—
Net cash (used in) provided by financing activities	—		—		—		—		—		—		—		—		—
Effect of exchange rate changes on cash and cash equivalents	—		—		—		—		—		—		—		—		—
Net increase (decrease) in cash and cash equivalents	—		—		—		—		—		—		—		—		—
Cash and cash equivalents, beginning of period	—		—		—		—		—		—		—		—		—
Cash and cash equivalents, end of period	—		—		—		—		—		—		—		—		—

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Statement of Cash Flow

Six months ended June 30, 2004

Unaudited

(Dollars in thousands)

	MeriStar Sub 6J, LLC		MeriStar Sub 1D, LLC		MeriStar Sub 7B, L.P.		MeriStar Sub 7D, LLC		MeriStar Sub 7G, LLC		MeriStar Sub 6B, LLC		MeriStar Sub 4I, L.P.		MeriStar Sub 5D, LLC		MeriStar Sub 5H, LLC
Operating activities:
Net (loss) income	823		647		(787	)	1,063		103		257		—		(386	)	—
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:
Depreciation and amortization	281		1,136		99		862		49		224		—		738		—
Loss on asset impairments	—		—		—		—		—		—		—		—		—
Loss on sale of assets, before tax effect	—		—		1,035		—		(39	)	—		—		—		—
Loss on early extinguishments of debt	—		—		—		—		—		—		—		—		—
Minority interests	—		—		—		—		—		—		—		—		—
Equity in earnings of consolidated entities	—		—		—		—		—		—		—		—		—
Equity in loss of unconsolidated affiliate	—		—		—		—		—		—		—		—		—
Amortization of unearned stock-based compensation	—		—		—		—		—		—		—		—		—
Deferred income taxes	—		—		—		—		—		—		—		—		—
Changes in operating assets and liabilities:
Insurance claim receivable, less capital expenditure proceeds	—		—		—		—		—		—		—		—		—
Accounts receivable, net	—		—		—		650		—		—		—		—		—
Prepaid expenses and other assets	8		183		1		31		—		4		—		31		1
Receivables from unconsolidated affiliates	—		—		—		—		—		—		—		—		—
Due to Interstate Hotels & Resorts	—		—		—		—		—		—		—		—		—
Accounts payable, accrued expenses, accrued interest and other liabilities	288		189		(1,602	)	442		6		105		61		359		2
Due to/from subsidiaries	(1,208	)	(1,785	)	(3,147	)	(2,044	)	(1,659	)	73		(61	)	(585	)	(3	)
Net cash (used in) provided by operating activities	192		370		(4,401	)	1,004		(1,540	)	663		—		157		—
Investing activities:
Acquisition of hotels, net of cash acquired	—		—		—		—		—		—		—		—		—
Capital expenditures for property and equipment	(192	)	(370	)	306		(1,004	)	(399	)	(663	)	—		(157	)	—
Proceeds from sales of assets	—		—		4,500		—		2,300		—		—		—		—
Insurance proceeds related to capital expenditures	—		—		—		—		—		��		—		—		—
(Increase) decrease in restricted cash	—		—		—		—		—		—		—		—		—
Costs associated with disposition program and other, net	—		—		(405	)	—		(361	)	—		—		—		—
Net cash (used in) provided by investing activities	(192	)	(370	)	4,401		(1,004	)	1,540		(663	)	—		(157	)	—
Financing activities:
Prepayments on long-term debt	—		—		—		—		—		—		—		—		—
Scheduled payments on long-term debt	—		—		—		—		—		—		—		—		—
Proceeds from mortgage loans, net of financing costs	—		—		—		—		—		—		—		—		—
Proceeds from debt issuance, net of issuance costs	—		—		—		—		—		—		—		—		—
Loans to/from subsidiaries	—		—		—		—		—		—		—		—		—
Distributions to minority investors	—		—		—		—		—		—		—		—		—
Proceeds from OP units issuance, net of issuance costs	—		—		—		—		—		—		—		—		—
Purchase of subsidiary partnership interests	—		—		—		—		—		—		—		—		—
Repurchase of OP units under employee stock plans	—		—		—		—		—		—		—		—		—
Other	—		—		—		—		—		—		—		—		—
Net cash (used in) provided by financing activities	—		—		—		—		—		—		—		—		—
Effect of exchange rate changes on cash and cash equivalents	—		—		—		—		—		—		—		—		—
Net increase (decrease) in cash and cash equivalents	—		—		—		—		—		—		—		—		—
Cash and cash equivalents, beginning of period	—		—		—		—		—		—		—		—		—
Cash and cash equivalents, end of period	—		—		—		—		—		—		—		—		—

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Statement of Cash Flow

Six months ended June 30, 2004

Unaudited

(Dollars in thousands)

	MeriStar Sub 7H, LLC		AGH PSS I, Inc.		MeriStar Sub 2D, LLC		MeriStar Sub 4F, L.P.		MeriStar Sub 5K, LLC		MeriStar Sub 5M, LLC		MeriStar Sub 1E, LLC		MeriStar Sub 5O, LLC		MeriStar Sub 4B, L.P.
Operating activities:
Net (loss) income	—		—		—		255		429		618		—		305		(217	)
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:
Depreciation and amortization	—		—		—		552		648		238		—		114		—
Loss on asset impairments	—		—		—		—		—		—		—		—		—
Loss on sale of assets, before tax effect	—		—		—		—		—		—		—		—		215
Loss on early extinguishments of debt	—		—		—		—		—		—		—		—		—
Minority interests	—		—		—		—		—		—		—		—		—
Equity in earnings of consolidated entities	—		—		—		—		—		—		—		—		—
Equity in loss of unconsolidated affiliate	—		—		—		—		—		—		—		—		—
Amortization of unearned stock-based compensation	—		—		—		—		—		—		—		—		—
Deferred income taxes	—		—		—		—		—		—		—		—		—
Changes in operating assets and liabilities:
Insurance claim receivable, less capital expenditure proceeds	—		—		—		—		—		—		—		—		—
Accounts receivable, net	43		—		1,166		—		—		—		198		—		—
Prepaid expenses and other assets	—		1		—		13		64		37		(1	)	13		(4	)
Receivables from unconsolidated affiliates	—		—		—		—		—		—		—		—		—
Due to Interstate Hotels & Resorts	—		—		—		—		—		—		—		—		—
Accounts payable, accrued expenses, accrued interest and other liabilities	—		—		—		(202	)	(1,481	)	98		(14	)	46		(464	)
Due to/from subsidiaries	(43	)	(1	)	(1,166	)	237		589		(944	)	(183	)	(449	)	(6,348	)
Net cash (used in) provided by operating activities	—		—		—		855		249		47		—		29		(6,818	)
Investing activities:
Acquisition of hotels, net of cash acquired	—		—		—		—		—		—		—		—		—
Capital expenditures for property and equipment	—		—		—		(855	)	(249	)	(47	)	—		(29	)	(200	)
Proceeds from sales of assets	—		—		—		—		—		—		—		—		7,500
Insurance proceeds related to capital expenditures	—		—		—		—		—		—		—		—		—
(Increase) decrease in restricted cash	—		—		—		—		—		—		—		—		—
Costs associated with disposition program and other, net	—		—		—		—		—		—		—		—		(482	)
Net cash (used in) provided by investing activities	—		—		—		(855	)	(249	)	(47	)	—		(29	)	6,818
Financing activities:
Prepayments on long-term debt	—		—		—		—		—		—		—		—		—
Scheduled payments on long-term debt	—		—		—		—		—		—		—		—		—
Proceeds from mortgage loans, net of financing costs	—		—		—		—		—		—		—		—		—
Proceeds from debt issuance, net of issuance costs	—		—		—		—		—		—		—		—		—
Loans to/from subsidiaries	—		—		—		—		—		—		—		—		—
Distributions to minority investors	—		—		—		—		—		—		—		—		—
Proceeds from OP units issuance, net of issuance costs	—		—		—		—		—		—		—		—		—
Purchase of subsidiary partnership interests	—		—		—		—		—		—		—		—		—
Repurchase of OP units under employee stock plans	—		—		—		—		—		—		—		—		—
Other	—		—		—		—		—		—		—		—		—
Net cash (used in) provided by financing activities	—		—		—		—		—		—		—		—		—
Effect of exchange rate changes on cash and cash equivalents	—		—		—		—		—		—		—		—		—
Net increase (decrease) in cash and cash equivalents	—		—		—		—		—		—		—		—		—
Cash and cash equivalents, beginning of period	—		—		—		—		—		—		—		—		—
Cash and cash equivalents, end of period	—		—		—		—		—		—		—		—		—

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Statement of Cash Flow

Six months ended June 30, 2004

Unaudited

(Dollars in thousands)

	MeriStar Sub 2C, LLC		MeriStar Sub 4G, L.P.		MeriStar Sub 3B, LLC		MeriStar Sub 5G, L.P.		MeriStar Sub 5N, LLC		MeriStar Sub 5P, LLC		MeriStar Sub 5J, LLC		MeriStar Sub 5Q, LLC		MeriStar Sub 5A, LLC
Operating activities:
Net (loss) income	(1,645	)	341		—		1,551		398		483		1,603		639		836
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:
Depreciation and amortization	—		223		—		3,150		69		2		2,810		294		532
Loss on asset impairments	903		245		—		—		—		—		—		—		—
Loss on sale of assets, before tax effect	1,612		—		—		—		—		—		—		—		—
Loss on early extinguishments of debt	—		—		—		—		—		—		—		—		—
Minority interests	—		—		—		—		—		—		—		—		—
Equity in earnings of consolidated entities	—		—		—		—		—		—		—		—		—
Equity in loss of unconsolidated affiliate	—		—		—		—		—		—		—		—		—
Amortization of unearned stock-based compensation	—		—		—		—		—		—		—		—		—
Deferred income taxes	—		—		—		—		—		—		—		—		—
Changes in operating assets and liabilities:
Insurance claim receivable, less capital expenditure proceeds	—		—		—		—		—		—		—		—		—
Accounts receivable, net	(7	)	—		—		—		—		—		—		—		—
Prepaid expenses and other assets	(234	)	81		—		228		15		3		292		46		26
Receivables from unconsolidated affiliates	—		—		—		—		—		—		—		—		—
Due to Interstate Hotels & Resorts	—		—		—		—		—		—		—		—		—
Accounts payable, accrued expenses, accrued interest and other liabilities	(217	)	(317	)	22		(478	)	48		—		310		229		559
Due to/from subsidiaries	11,658		(569	)	(22	)	(398	)	(483	)	(488	)	(3,014	)	(1,040	)	(1,315	)
Net cash (used in) provided by operating activities	12,070		4		—		4,053		47		—		2,001		168		638
Investing activities:
Acquisition of hotels, net of cash acquired	—		—		—		—		—		—		—		—		—
Capital expenditures for property and equipment	(81	)	(4	)	—		(4,053	)	(47	)	—		(2,001	)	(168	)	(638	)
Proceeds from sales of assets	8,398		—		—		—		—		—		—		—		—
Insurance proceeds related to capital expenditures	—		—		—		—		—		—		—		—		—
(Increase) decrease in restricted cash	—		—		—		—		—		—		—		—		—
Costs associated with disposition program and other, net	(656	)	—		—		—		—		—		—		—		—
Net cash (used in) provided by investing activities	7,661		(4	)	—		(4,053	)	(47	)	—		(2,001	)	(168	)	(638	)
Financing activities:
Prepayments on long-term debt	(19,731	)	—		—		—		—		—		—		—		—
Scheduled payments on long-term debt	—		—		—		—		—		—		—		—		—
Proceeds from mortgage loans, net of financing costs	—		—		—		—		—		—		—		—		—
Proceeds from debt issuance, net of issuance costs	—		—		—		—		—		—		—		—		—
Loans to/from subsidiaries	—		—		—		—		—		—		—		—		—
Distributions to minority investors	—		—		—		—		—		—		—		—		—
Proceeds from OP units issuance, net of issuance costs	—		—		—		—		—		—		—		—		—
Purchase of subsidiary partnership interests	—		—		—		—		—		—		—		—		—
Repurchase of OP units under employee stock plans	—		—		—		—		—		—		—		—		—
Other	—		—		—		—		—		—		—		—		—
Net cash (used in) provided by financing activities	(19,731	)	—		—		—		—		—		—		—		—
Effect of exchange rate changes on cash and cash equivalents	—		—		—		—		—		—		—		—		—
Net increase (decrease) in cash and cash equivalents	—		—		—		—		—		—		—		—		—
Cash and cash equivalents, beginning of period	—		—		—		—		—		—		—		—		—
Cash and cash equivalents, end of period	—		—		—		—		—		—		—		—		—

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Statement of Cash Flow

Six months ended June 30, 2004

Unaudited

(Dollars in thousands)

	MeriStar Sub 8D, LLC		MeriStar Sub 4J, LLC		MeriStar Pentagon City, LLC		MeriStar Sub 6K, LLC	MeriStar Sub 5E, LLC	MeriStar Sub 6I, LLC	MeriStar Sub 5I, LLC	CapStar Cherry Hill Company, LLC	Meristar Acquisition Company, LLC
Operating activities:
Net (loss) income	(857	)	437		861		—	—	—	—	—	—
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:
Depreciation and amortization	—		632		355		—	—	—	—	—	—
Loss on asset impairments	—		—		—		—	—	—	—	—	—
Loss on sale of assets, before tax effect	899		—		—		—	—	—	—	—	—
Loss on early extinguishments of debt	—		—		—		—	—	—	—	—	—
Minority interests	—		—		—		—	—	—	—	—	—
Equity in earnings of consolidated entities	—		—		—		—	—	—	—	—	—
Equity in loss of unconsolidated affiliate	—		—		—		—	—	—	—	—	—
Amortization of unearned stock-based compensation	—		—		—		—	—	—	—	—	—
Deferred income taxes	—		—		—		—	—	—	—	—	—
Changes in operating assets and liabilities:
Insurance claim receivable, less capital expenditure proceeds	—		—		—		—	—	—	—	—	—
Accounts receivable, net	(359	)	1		—		—	—	—	—	—	—
Prepaid expenses and other assets	14		17		—		—	—	—	—	—	—
Receivables from unconsolidated affiliates	—		—		—		—	—	—	—	—	—
Due to Interstate Hotels & Resorts	—		—		—		—	—	—	—	—	—
Accounts payable, accrued expenses, accrued interest and other liabilities	(76	)	74		325		—	—	—	—	—	—
Due to/from subsidiaries	(7,723	)	(440	)	35,990		—	—	—	—	—	—
Net cash (used in) provided by operating activities	(8,102	)	721		37,531		—	—	—	—	—	—
Investing activities:
Acquisition of hotels, net of cash acquired	—		—		(92,672	)	—	—	—	—	—	—
Capital expenditures for property and equipment	(359	)	(721	)	(135	)	—	—	—	—	—	—
Proceeds from sales of assets	8,800		—		—		—	—	—	—	—	—
Insurance proceeds related to capital expenditures	—		—		—		—	—	—	—	—	—
(Increase) decrease in restricted cash	—		—		—		—	—	—	—	—	—
Costs associated with disposition program and other, net	(339	)	—		—		—	—	—	—	—	—
Net cash (used in) provided by investing activities	8,102		(721	)	(92,807	)	—	—	—	—	—	—
Financing activities:
Prepayments on long-term debt	—		—		—		—	—	—	—	—	—
Scheduled payments on long-term debt	—		—		—		—	—	—	—	—	—
Proceeds from mortgage loans, net of financing costs	—		—		—		—	—	—	—	—	—
Proceeds from debt issuance, net of issuance costs	—		—		55,276		—	—	—	—	—	—
Loans to/from subsidiaries	—		—		—		—	—	—	—	—	—
Distributions to minority investors	—		—		—		—	—	—	—	—	—
Proceeds from OP units issuance, net of issuance costs	—		—		—		—	—	—	—	—	—
Purchase of subsidiary partnership interests	—		—		—		—	—	—	—	—	—
Repurchase of OP units under employee stock plans	—		—		—		—	—	—	—	—	—
Other	—		—		—		—	—	—	—	—	—
Net cash (used in) provided by financing activities	—		—		55,276		—	—	—	—	—	—
Effect of exchange rate changes on cash and cash equivalents	—		—		—		—	—	—	—	—	—
Net increase (decrease) in cash and cash equivalents	—		—		—		—	—	—	—	—	—
Cash and cash equivalents, beginning of period	—		—		—		—	—	—	—	—	—
Cash and cash equivalents, end of period	—		—		—		—	—	—	—	—	—

MeriStar Hospitality Operating Partnership, L.P.

Consolidating Statement of Cash Flow

Six months ended June 30, 2004

Unaudited

(Dollars in thousands)

	MeriStar Sub 6A, LLC	MeriStar Sub 6F, LLC	MeriStar Hotel Lessee, Inc.		Guarantor Eliminations	Guarantor Subsidiaries Total		Eliminations		Total Consolidated
Operating activities:
Net (loss) income	—	—	(31,167	)	—	(13,057	)	(6,014	)	(52,938	)
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:
Depreciation and amortization	—	—	84		—	19,955		—		51,985
Loss on asset impairments	—	—	—		—	3,678		—		7,441
Loss on sale of assets, before tax effect	—	—	9,742		—	12,137		—		11,530
Loss on early extinguishments of debt	—	—	—		—	—		—		7,903
Minority interests	—	—	—		—	—		—		(24	)
Equity in earnings of consolidated entities	—	—	—		—	—		6,014		—
Equity in loss of unconsolidated affiliate	—	—	—		—	—		—		—
Amortization of unearned stock-based compensation	—	—	—		—	—		—		1,090
Deferred income taxes	—	—	—		—	—		—		(652	)
Changes in operating assets and liabilities:
Insurance claim receivable, less capital expenditure proceeds	—	—	—		—	—		—		—
Accounts receivable, net	—	—	(6,442	)	—	(574	)	4,344		689
Prepaid expenses and other assets	—	—	1,958		—	3,347		—		4,864
Receivables from unconsolidated affiliates	—	—	—		—	—		—		(4,916	)
Due to Interstate Hotels & Resorts	—	—	(10,049	)	—	(10,049	)	—		(3,241	)
Accounts payable, accrued expenses, accrued interest and other liabilities	—	—	11,181		—	9,811		(4,344	)	(6,040	)
Due to/from subsidiaries	—	—	6,939		—	(19,903	)	—		—
Net cash (used in) provided by operating activities	—	—	(17,754	)	—	5,345		—		17,691
Investing activities:
Acquisition of hotels, net of cash acquired	—	—	2,022		—	(90,650	)	—		(182,790	)
Capital expenditures for property and equipment	—	—	(170	)	—	(25,429	)	—		(49,898	)
Proceeds from sales of assets	—	—	—		—	62,798		—		104,873
Insurance proceeds related to capital expenditures	—	—	—		—	—		—		—
(Increase) decrease in restricted cash	—	—	(2,490	)	—	(2,490	)	—		(29,955	)
Costs associated with disposition program and other, net	—	—	—		—	(3,511	)	—		(5,081	)
Net cash (used in) provided by investing activities	—	—	(638	)	—	(59,282	)	—		(162,851	)
Financing activities:
Prepayments on long-term debt	—	—	—		—	(19,731	)	—		(105,857	)
Scheduled payments on long-term debt	—	—	—		—	—		—		(3,691	)
Proceeds from mortgage loans, net of financing costs	—	—	—		—	—		—		—
Proceeds from debt issuance, net of issuance costs	—	—	—		—	55,276		—		109,687
Loans to/from subsidiaries	—	—	29,460		—	29,460		—		—
Distributions to minority investors	—	—	—		—	—		—		(141	)
Proceeds from OP units issuance, net of issuance costs	—	—	—		—	—		—		72,340
Purchase of subsidiary partnership interests	—	—	—		—	—		—		(8,690	)
Repurchase of OP units under employee stock plans	—	—	—		—	—		—		(160	)
Other	—	—	—		—	—		—		(165	)
Net cash (used in) provided by financing activities	—	—	29,460		—	65,005		—		63,323
Effect of exchange rate changes on cash and cash equivalents	—	—	—		—	—		—		(227	)
Net increase (decrease) in cash and cash equivalents	—	—	11,068		—	11,068		—		(82,064	)
Cash and cash equivalents, beginning of period	—	—	12,231		—	12,231		—		230,876
Cash and cash equivalents, end of period	—	—	23,299		—	23,299		—		148,812