MeriStar Announces Price for Outstanding Debt Securities

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. October 14, 2008

BETHESDA, MD, April 17, 2006. MeriStar Hospitality Corporation (NYSE: MHX) and its subsidiary MeriStar Hospitality Operating Partnership, L.P. (the "Operating Partnership") announced today the consideration to be paid in the previously announced cash tender offers and consent solicitations for any and all of the 9% Senior Notes due 2008 (CUSIP No. 58984YAD5) and 9?% Senior Notes due 2011 (CUSIP No. 58984SAA4) of the Operating Partnership (collectively, the "Notes").

The total consideration for the Notes, which will be payable in respect of Notes accepted for payment that were validly tendered with consents delivered and not withdrawn on or prior to 5 p.m., New York City time, on April 12, 2006, will be an amount equal to the total consideration specified in the table below for each $1,000 principal amount of Notes. The purchase price for the Notes, which will be paid in respect of Notes accepted for payment that are validly tendered subsequent to 5 p.m., New York City time, on April 12, 2006 but on or prior to 8 a.m., New York City time, on May 2, 2006, will be an amount equal to the total consideration minus the consent payment of $30.00 per $1,000 principal amount of Notes. In addition to the total consideration or purchase price payable in respect of Notes purchased in the tender offers, the Operating Partnership will pay accrued and unpaid interest to, but not including, the payment date for Notes purchased in the tender offers.

The total consideration and the purchase price for the Notes was determined as of 2 p.m., New York City time, today by reference to a fixed spread of 50 basis points above the yield of the applicable reference security, using a May 2, 2006 payment date for calculation purposes.

The tender offers will expire at 8 a.m., New York City time, on Tuesday, May 2, 2006, unless extended or earlier terminated. The tender offers and concurrent consent solicitations are being conducted in connection with the previously announced agreement of MeriStar and the Operating Partnership to merge with affiliates of The Blackstone Group. The consummation of the tender offers is conditioned upon the successful completion of the mergers, among other conditions.

The tender offers and consent solicitations are being made only pursuant to the Offer to Purchase and Consent Solicitation Statement dated March 29, 2006 and the related Consent and Letter of Transmittal, as the same may be amended from time to time. Persons with questions regarding the tender offers or the consent solicitations should contact Bear, Stearns & Co. Inc. and Lehman Brothers Inc. who are the Dealer Managers for the tender offers and Solicitation Agents for the consent solicitations at (877) 696-BEAR (toll-free) and (800) 438-3242 (toll-free), respectively. The documents relating to the tender offers and consent solicitations may be obtained from D.F. King & Co., Inc., the Information Agent, which can be contacted at (212) 269-5550 (for banks and brokers only) or (888) 644-5854 (for all others toll-free.