Exhibit 99.2 NOTICE OF GUARANTEED DELIVERY FOR TENDER OF ALL OUTSTANDING 8 3/4% SENIOR SUBORDINATED NOTES DUE 2007 IN EXCHANGE FOR NEW 8 3/4% SENIOR SUBORDINATED NOTES DUE 2007 REGISTERED UNDER THE SECURITIES ACT OF 1993, AS AMENDED OF CAPSTAR HOTEL COMPANY Registered holders of outstanding 8 3/4% Senior Subordinated Notes due 2007 (the "Existing Notes") who wish to tender their Existing Notes in exchange for a like principal amount of new 8 3/4% Senior Subordinated Notes due 2007 (the "New Notes") and whose Existing Notes are not immediately available or who cannot deliver their Existing Notes and Letter of Transmittal (and any other documents required by the Letter of Transmittal) to IBJ Schroder Bank & Trust Company (the "Exchange Agent") prior to the Expiration Date, may use this Notice of Guaranteed Delivery. This Notice of Guaranteed Delivery may be delivered by hand or sent by facsimile transmission (receipt confirmed by telephone and an original delivered by guaranteed overnight courier) or letter to the Exchange Agent. See "The Exchange Offer-- Procedures for Tendering Existing Notes" in this Prospectus. THE EXCHANGE AGENT FOR THE EXCHANGE OFFER IS: BY REGISTERED OR CERTIFIED MAIL: BY HAND: BY OVERNIGHT DELIVERY: IBJ Schroder Bank and Trust Company IBJ Schroder Bank and Trust Company IBJ Schroder Bank and Trust Company P.O. Box 84 One State Street One State Street Bowling Green Station New York, NY 10004 New York, NY 10004 New York, NY 10274-0084 Attn: Securities Processing Attn: Securities Processing Window, Attn: Reorganization Window, Subcellar One (SC-1) Subcellar One (SC-1) Operations Department FOR INFORMATION, CALL: Information and Facsimile Confirmation: (212) 858-2103 Facsimile: (212) 858-2611 (Eligible Institutions Only) DELIVERY OF THIS NOTE OF GUARANTEED DELIVERY TO AN ADDRESS OTHER THAN AS SET FORTH ABOVE OR TRANSMISSION OF INSTRUCTIONS VIA FACSIMILE TRANSMISSION TO A NUMBER OTHER THAN AS SET FORTH ABOVE WILL NOT CONSTITUTE A VALID DELIVERY. THIS NOTICE OF GUARANTEED DELIVERY IS NOT TO BE USED TO GUARANTEE SIGNATURES. IF A SIGNATURE ON A LETTER OF TRANSMITTAL IS REQUIRED TO BE GUARANTEED BY AN ELIGIBLE INSTITUTION (AS DEFINED IN THE PROSPECTUS), SUCH SIGNATURE GUARANTEE MUST APPEAR IN THE APPLICABLE SPACE PROVIDED ON THE LETTER OF TRANSMITTAL FOR GUARANTEE OF SIGNATURES. Ladies and Gentleman: The undersigned hereby tenders the principal amount of Existing Notes indicated below, upon the terms and subject to the conditions contained in the Prospectus dated , 1997 of CapStar Hotel Company (the "Prospectus"), receipt of which is hereby acknowledged. DESCRIPTION OF SECURITIES TENDERED AGGREGATE PRINCIPAL PRINCIPAL NAME AND ADDRESS OF REGISTERED HOLDER AS IT CERTIFICATE AMOUNT AMOUNT APPEARS ON THE 8 3/4% SENIOR SUBORDINATED NUMBER(S) OF REPRESENTED OF EXISTING NOTES DUE 2007 ("EXISTING NOTES") EXISTING NOTES BY EXISTING NOTES (PLEASE PRINT) TENDERED NOTES*/ TENDERED If Existing Notes will be delivered by book-entry transfer to The Depositary Trust Company, provide account number. Account Number _______________________ THE FOLLOWING GUARANTEE MUST BE COMPLETED GUARANTEE OF DELIVERY (NOT TO BE USED FOR SIGNATURE GUARANTEE) The undersigned, a firm that is a member of a registered national securities exchange or a member of the National Association of Securities Dealers, Inc. or a commercial bank or trust company having an office, branch, agency or correspondent in the United States, hereby guarantees to deliver to the Exchange Agent at one of its addresses set forth above, the certificates representing the Existing Notes, together with a properly completed and duly executed Letter of Transmittal (or facsimile thereof), with any required signature guarantees, and any other documents required by the Letter of Transmittal within three New York Stock Exchange, Inc. trading days after the date of execution of this Notice of Guaranteed Delivery. Name of Firm: (Authorized Signature) Address: Title: Name: (Zip Code) (Please Type or Print) Area Code and Telephone Number: Date: NOTE: DO NOT SEND EXISTING NOTES WITH THIS NOTICE OF GUARANTEED DELIVERY. EXISTING NOTES SHOULD BE SENT WITH YOUR LETTER OF TRANSMITTAL. - ------------------------ */ Must be in denominations of $1,000 and any integral multiple thereof. ALL AUTHORITY HEREIN CONFERRED OR AGREED TO BE CONFERRED SHALL SURVIVE THE DEATH OR INCAPACITY OF THE UNDERSIGNED AND EVERY OBLIGATION OF THE UNDERSIGNED HEREUNDER SHALL BE BINDING UPON THE HEIRS, PERSONAL REPRESENTATIVES, SUCCESSORS AND ASSIGNS OF THE UNDERSIGNED. PLEASE SIGN HERE X X Signature(s) of Owner(s) or Authorized Date Signatory Area Code and Telephone Number: Must be signed by the holder(s) of Existing Notes as their name(s) appear(s) on certificates for Existing Notes or on a security position listing, or by person(s) authorized to become registered holder(s) by endorsement and documents transmitted with this Notice of Guaranteed Delivery. If signature is by a trustee, executor, administrator, guardian, attorney-in-fact, officer or other person acting in a fiduciary or representative capacity, such person must set forth his or her full title below: PLEASE PRINT NAME(S) AND ADDRESS(ES) Name(s): _______________________________________________________________________ ________________________________________________________________________________ ________________________________________________________________________________ Capacity: ______________________________________________________________________ Address(es): ___________________________________________________________________ ________________________________________________________________________________ ________________________________________________________________________________