SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-K

 ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

 For the fiscal year ended December 31, 2000

Commission file number 0-23732

 WINSTON HOTELS, INC.

(Exact name of registrant as specified in its charter)

     North Carolina                                                                                     56-1624289

    (State of incorporation)                                                     (I.R.S. Employer Identification Number)

 2626 Glenwood Avenue,

 Suite 200 Raleigh, North Carolina                                                                27608                    

   (Address of principal executive offices)                                                         (Zip Code)                               

 (919) 510-6010

(Registrant’s telephone number, including area code)

 Securities registered pursuant to Section 12(b) of the Act:

 Common Stock, $0.01 par value per share                                           New York Stock Exchange

 Preferred Stock, $0.01 par value per share                                           New York Stock Exchange

                        (Title of Class)                                       (Name of Exchange upon Which Registered)

       Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.   Yes No

       Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulations S-K is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment of this Form 10-K.

       The aggregate market value of the registrant’s Common Stock, $0.01 par value per share, at March 1, 2001, held by those persons deemed by the registrant to be non-affiliates was approximately $133,153,144.

        As of March 1, 2001, there were 16,926,678 shares of the registrant’s Common Stock, $0.01 par value per share, outstanding.

 DOCUMENTS INCORPORATED BY REFERENCE 

Document                                                                                                             Where Incorporated

1.  Proxy Statement for Annual Meeting of Shareholders to be held on May 8, 2001                       Part III