Highland Hospitality Corporation operates as a real estate investment trust (REIT) in the United States. The company owns upscale full-service, premium limited-service, and extended stay hotel properties located in convention, business, resort, and airport markets in the United States. As of February 27, 2007, it owned 27 hotel properties with 8,382 rooms located in 14 states and the District of Columbia. The company has elected to be taxed as REIT and would not be subject to federal corporate income tax, provided it distributes 90% of its taxable income to its shareholders. Highland Hospitality Corporation was founded in 1999 and is based in McLean, Virginia.