WASHINGTON, D.C. & NEWRY, Maine–Dec. 11, 2000– MeriStar Hotels & Resorts (NYSE: MMH), the nation’s largest independent hotel management company, and American Skiing Company (NYSE: SKI), the nation’s largest ski resort operating company, announced today that they will hold a joint conference call at noon ET today to discuss in greater detail the previously announced merger of the two companies. The merged company will be renamed Doral International and will focus on international leisure and hospitality. The conference call will feature Paul W. Whetsell, chairman and chief executive officer, MeriStar Hotels & Resorts, Leslie B. Otten, chairman of American Skiing Company; and John Emery, chief investment officer of MeriStar Hotels & Resorts. Following the prepared remarks, the call will be opened up for questions and answers. Analysts, investors, shareholders and other interested parties may access the call by dialing 800-482-5547, reference number 880379. A simultaneous webcast of the conference call will be available at MeriStar’s Web site, www.meristar.com, and at www.streetevents.com. A replay of the presentation will be available through December 14 at 5 p.m. by dialing 800-625-5288, reference number 880379, or through MeriStar’s Web site. Headquartered in Newry, Maine, American Skiing Company, founded by Leslie B. Otten, is the largest operator of alpine ski, snowboard and golf resorts in the United States. Its resorts include Steamboat in Colorado; Killington, Mount Snow and Sugarbush in Vermont; Sunday River and Sugarloaf/USA in Maine; Attitash Bear Peak in New Hampshire; The Canyons in Utah; and Heavenly in California/Nevada. Additional information is available on the company’s Web site, www.peaks.com. MeriStar Hotels & Resorts operates 231 hospitality and leisure properties with more than 48,000 rooms and 11 golf courses in 34 states, the District of Columbia, Canada, Puerto Rico and the U.S. Virgin Islands. BridgeStreet Accommodations, a MeriStar subsidiary, is one of the world’s largest corporate housing providers, offering upscale, fully furnished corporate housing throughout the United States, Canada and Europe. For more information about MeriStar Hotels & Resorts, visit the company’s Web site: www.meristar.com
This press release contains forward-looking statements about MeriStar Hotels & Resorts, Inc., including those statements regarding future operating results and the timing and composition of revenues, among others. Except for historical information, the matters discussed in this press release are forward-looking statements that are subject to certain risks and uncertainties that could cause the actual results to differ materially, including the following: the ability of the companies to complete the merger, the ability of the company to successfully implement its acquisition strategy and operating strategy; the merged company’s ability to manage rapid expansion; significant leverage; changes in economic cycles; competition from other hospitality companies; and changes in the laws and government regulations applicable to the companies.