WASHINGTON, DC— MeriStar Hospitality Corp. has declared a quarterly cash dividend of $0.505 per share. The dividend, equivalent to an annual rate of $2.02 per share, is payable July 31, 2001 to shareholders of record on July 13, 2001. MeriStar owns 113 primarily upscale, full-service hotels representing 28,897 rooms in 27 states, the District of Columbia and Canada. As previously reported by HOTEL BUSINESS®, MeriStar and FelCor Lodging Trust agreed to merge in a $2.7-billion cash, stock and debt-assumption transaction last month.
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