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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Date of Report: November 1, 1999
INTERSTATE HOTELS CORPORATION
Foster Plaza Ten
680 Andersen Drive
Pittsburgh, Pennsylvania 15220
(412) 937-0600
Maryland 0-26805 75-2767215
(State of Incorporation) (SEC File No.) (I.R.S. Employer
Identification Number)
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ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
On November 1, 1999, Interstate Hotels Corporation (the "Company")
acquired the Pittsburgh Airport Residence Inn by Marriott from Syracuse Office
Associates, L.P. The hotel is a 156-suite extended stay lodging facility located
in North Fayette Township, Pennsylvania. The Company acquired 100% of the
membership interests in Interstate Pittsburgh Hotel Holdings, L.L.C. (formerly
Syracuse/Pittsburgh Hotel Holdings, L.L.C.), which owns the hotel, for a total
acquisition cost, including closing costs, of approximately $12.7 million. Prior
to the acquisition by the Company, J. William Richardson, Vice Chairman and
Chief Financial Officer of the Company, beneficially owned a 10% limited
partnership interest in Syracuse Office Associates, L.P.
The Company used cash on hand to fund the acquisition. Except for Mr.
Richardson, the seller in the transaction was not affiliated with the Company.
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ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
Exhibit No. Description
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2.1 Certificate and Agreement, dated as of November 1, 1999, by and
among Syracuse Office Associates, L.P. Syracuse/Pittsburgh Hotel
Holdings, L.L.C., Interstate Property Partnership, L.P. and
Interstate Hotels Corporation.
2.2 Assignment and Assumption of Membership Interest, effective as of
November 1, 1999, by and between Syracuse Office Associates, L.P.
and Interstate Property Partnership, L.P.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
INTERSTATE HOTELS CORPORATION
Date: November 16, 1999
By: /s/ J. William Richardson
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J. William Richardson
Vice Chairman and
Chief Financial Officer
(Principal Financial Officer)
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INDEX TO EXHIBITS
Exhibit No. Description
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2.1 Certificate and Agreement, dated as of November 1, 1999, by and
among Syracuse Office Associates, L.P. Syracuse/Pittsburgh Hotel
Holdings, L.L.C., Interstate Property Partnership, L.P. and
Interstate Hotels Corporation.
2.2 Assignment and Assumption of Membership Interest, effective as of
November 1, 1999, by and between Syracuse Office Associates, L.P.
and Interstate Property Partnership, L.P.