PSH MASTER L P I
8-K, 1999-12-30
HOTELS & MOTELS
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<PAGE>   1
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549






                                    FORM 8-K


                                 CURRENT REPORT
                     PURSUANT TO SECTION 13 OR 15(D) OF THE
                         SECURITIES EXCHANGE ACT OF 1934



Date of Report (Date of earliest event reported):    December 23, 1999


                                PSH Master L.P. I
               (Exact Name of Registrant as Specified in Charter)


     Delaware                     0-16840                        31-1204568
(State or Other            (Commission File Number)            (IRS Employer
Jurisdiction of                                              Identification No.)
 Incorporation)

             P.O. Box 18035
             Columbus, Ohio                                          43218
  (Address of Principal Executive Offices)                         (Zip Code)


                                 (614) 227-4235
              (Registrant's telephone number, including area code)

<PAGE>   2


ITEM 5.  OTHER EVENTS.

On December 23, 1999, PSH Master L.P. I (the "Partnership") announced that it
would make a final distribution to holders of Units of Limited Partner Interest
as of December 28, 1999 in the aggregate amount of $950,000. The Partnership
expects to make the distribution and make filings necessary to cancel the
Partnership's existence on or about December 30, 1999. The press release
announcing the final distribution and the termination of previously announced
litigation is filed as Exhibit 99.

ITEM 7.  EXHIBITS

         99.      Press Release




                                    SIGNATURE

                  Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.

Dated: December 30, 1999                 PSH MASTER L.P. I


                                         By:  PC Development Limited Partnership
                                              General Partner


                                         By:  PH Management Company
                                              General Partner


                                         By:  /s/  Stephen C. Denz
                                              ----------------------------------
                                              Stephen C. Denz,
                                              Controller and Secretary of
                                              PH Management Company

<PAGE>   1
                                    EXHIBIT


                               99. PRESS RELEASE
                               -----------------



TO: S. DENZ     FROM: PRNEWSWIRE CL (800)828-3133     12-23-1999 03:48PM EST p.1
- --------------------------------------------------------------------------------

DOW JONES NEWS SERVICE VIA DOWVISION                  12/23/99 03:08 PM
- --------------------------------------------------------------------------------

                DJ PSH Master Partner Stops Claims Against Partnership >PSHPZ

         COLUMBUS, Ohio (Dow Jones)--Equity Resource Pilgrim Fund, a limited
partner of PSH Master LP I (PSHP2), agreed to stop its claims related to the
sale of partnership hotels in 1997.

         In a press release Thursday, PSH Master said Equity Resource
discontinued its claims against James Pickett, chairman of PH Management Co.;
Stephen Denz, secretary of PH Management; PC Development LP and Nuho Co.

         The partnership will make a final distribution of $950,000 to its
limited partners on Dec. 28.

         As reported Jan. 9, 1998, PSH distributed $15.7 million as a partial
liquidating distribution from the sale of the partnership's three hotels.

         PSH Master trades on the over-the-counter Bulletin Board.

- -Donna Fuscaldo; Dow Jones Newswires; 201-938-5388


(END) DOW JONES NEWS 12-23-99

03:08 PM

Copyright 1999 Dow Jones & Company, Inc.


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