UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
___________
FORM 10-K/A
[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For fiscal year ended December 31, 1997
OR
[_] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the transition period from ____________ to
Commission File Number 1-12017
CAPSTAR HOTEL COMPANY
(Exact name of issuer as specified in its charter)
DELAWARE 52-1979383
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification Number)
1010 WISCONSIN AVENUE, N.W., 20007
WASHINGTON, D.C. (Zip code)
(Address of principal executive offices)
Registrant's telephone number, including area code: (202) 965-4455
Securities registered pursuant to Section 12(b) of the Act:
TITLE OF EACH CLASS Name of each exchange on which registered:
------------------------------ ------------------------------------------
Common Stock, par value $.01 per share New York Stock Exchange
Securities registered pursuant to Section 12(g) of the Act: None.
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period than the
Registrant was required to file such reports) and (2) has been subject to such
filing requirements for the past 90 days. Yes [X] No [_]
Indicate by check mark if disclosure of delinquent filers pursuant to Item
405 of Regulation S-K is not contained herein, and will not be contained, to the
best of the Registrant's knowledge, in definitive proxy or information
statements incorporated by reference in Part III of this Form 10-K or any
amendment to this Form 10-K. [X]
Based on the average sale price at May 21, 1998, the aggregate market
value of the voting stock
held by nonaffiliates of the registrant was $742,534,000.
The number of shares of the Registrant's common stock outstanding as of
May 21, 1998 was 24,903,090.
ITEM 2. PROPERTIES
The Company maintains its corporate headquarters in Washington, D.C.,
satellite offices in California and North Carolina, and owns hotel properties
throughout the United States and Canada. As of December 31, 1997, the Company
had 47 Owned Hotels. The Company leases its offices as well as the land for four
of its Owned Hotels (Embassy Row Hilton in Washington, DC; San Pedro Hilton in
San Pedro, CA; Doubletree Resort in Palm Springs, CA; and Jekyll Inn on Jekyll
Island, GA). No one hotel property is material to the operation of the Company.
A typical CapStar hotel has meeting and banquet facilities, food and beverage
facilities and guest rooms and suites.
The Owned Hotels feature, or after the Company's renovation programs have
been completed will feature, comfortable, modern guest rooms, extensive meeting
and convention facilities and full-service restaurant and catering facilities
that attract meeting and convention functions from groups and associations,
upscale business and vacation travelers as well as banquets and receptions from
the local community.
The following table sets forth certain information with respect to the
Owned Hotels for the year ended December 31, 1997:
Guest Average Average
Hotel Location Rooms Daily Rate Occupancy RevPAR
- ----- -------- ----- ---------- --------- ------
Sheraton Hotel.................................... Mesa, AZ 273 $ 89.49 53.6% $ 47.97
Embassy Suites.................................... Tucson, AZ 204 74.39 78.5 58.40
Orange County Airport Hilton...................... Irvine, CA 290 85.87 73.0 62.69
Doubletree Resort................................. Palm Springs, CA 289 97.45 66.9 65.19
Marriott Hotel.................................... Los Angeles, CA 469 118.56 60.5 71.73
Sacramento Hilton................................. Sacramento, CA 326 86.74 74.4 64.53
San Pedro Hilton.................................. San Pedro, CA 226 61.66 76.3 47.05
Santa Barbara Inn................................. Santa Barbara, CA 71 139.35 79.7 111.06
Holiday Inn....................................... Colorado Springs, CO 201 67.16 70.7 47.48
Sheraton Hotel.................................... Colorado Springs, CO 502 74.15 72.1 53.46
Embassy Suites Denver............................. Englewood, CO 236 103.75 76.2 79.06
Doubletree Bradley Airport........................ Windsor Locks, CT 200 84.27 67.4 56.80
Embassy Row Hilton................................ Washington, DC 195 119.63 73.5 87.93
Georgetown Inn.................................... Washington, DC 95 137.95 72.4 99.88
The Latham Hotel.................................. Washington, DC 143 113.32 81.1 91.90
Westin Atlanta Airport............................ Atlanta, GA 496 79.18 75.5 59.78
Jekyll Inn........................................ Jekyll Island, GA 265 63.15 46.6 29.43
Radisson Hotel & Suites........................... Chicago, IL 341 134.71 81.2 109.38
Radisson Hotel.................................... Schaumburg, IL 202 83.59 75.9 63.44
Doubletree Guest Suites........................... Indianapolis, IN 137 87.05 71.0 61.81
Radisson Plaza.................................... Lexington, KY 367 77.76 62.1 48.29
Lafayette Hilton & Towers......................... Lafayette, LA 328 73.65 72.8 53.62
Metro Airport Hilton Suites....................... Detroit, MI 151 81.37 85.7 69.73
Holiday Inn Sports Complex........................ Kansas City, MO 163 68.96 71.8 49.51
Sheraton Airport Plaza............................ Charlotte, NC 226 88.79 69.8 61.98
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Four Points Hotel................................. Cherry Hill, NJ 213 73.72 60.7 44.75
Westin Morristown................................. Morristown, NJ 201 126.04 59.3 74.74
Marriott Hotel.................................... Somerset, NJ 434 111.62 75.0 83.72
Holiday Inn....................................... Tinton Falls, NJ 171 78.89 72.2 56.96
Doubletree Hotel.................................. Albuquerque, NM 294 80.50 67.2 54.10
Radisson Hotel Southwest.......................... Cleveland, OH 237 78.06 66.6 51.99
Great Valley Sheraton............................. Frazer, PA 154 100.44 76.3 76.64
Embassy Suites Center City........................ Philadelphia, PA 288 127.64 73.6 93.94
Arlington Hilton.................................. Arlington, TX 310 85.92 72.2 62.03
Doubletree Hotel.................................. Austin, TX 350 88.08 74.9 65.97
Radisson Hotel.................................... Dallas, TX 305 61.07 74.1 45.25
Sheraton Hotel.................................... Dallas, TX 348 64.61 61.4 39.67
Houston Southwest Hilton.......................... Houston, TX 293 71.43 68.5 48.93
Westchase Hilton & Towers......................... Houston, TX 295 95.72 79.5 76.10
Salt Lake Airport Hilton.......................... Salt Lake City, UT 287 80.05 78.6 62.92
Arlington Hilton.................................. Arlington, VA 209 110.31 78.3 86.37
National Airport Hilton........................... Arlington, VA 386 96.78 67.3 65.13
Bellevue Hilton................................... Bellevue, WA 180 110.38 79.3 87.53
Holiday Inn Calgary Airport....................... Calgary, Alberta 170 51.34 72.2 37.07
Sheraton Hotel.................................... Guildford, B.C. 280 72.85 74.8 54.49
Holiday Inn-Metrotown............................. Vancouver, B.C. 100 75.03 87.8 65.88
Ramada Vancouver Centre........................... Vancouver, B.C. 118 75.00 81.8 61.35
------ ------- ----- -------
Total/Weighted Average............................ 12,019 $ 88.84 71.3% $ 63.34
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SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, CapStar Hotel Company has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.
Capstar Hotel Company
By:
/s/ Paul W. Whetsell
-----------------------------------
Paul W. Whetsell
President, Chief Executive Officer
and Chairman of the Board
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