Configuration: 32-bit Windows 7 development machine with IIS 7.5

I created a new web site in IIS to host only MVC sites called MVCHOST. The physical path to this website is set as C:\inetpub\mvcroot. I created a new v4.0 pool called mvcpool for this purpose.

I have given Modify rights to IIS_WPG, IIS_IUSRS, ASPNET accounts.

I created this web site with a host header "mvchost" and port 80, in the hopes of browsing MVC sites in the following way:

1. mvchost/mvcapp1
2. mvchost/mvcapp2

instead of

1. localhost/mvcapp1
2. localhost/mvcapp2

The only binding I set is the default one: http:*:80:mvchost. I have also copied the files iisstart.htm, web.config, welcome.png and folder aspnet_client from wwwroot over to mvcroot.

Now when I try to the browse this site from IIS manager, I get the following error:

This webpage is not available

If I leave out the host header and give some port, say 99, I can access this website at localhost:99.

What am I missing here? Why am I unable to access the web site at: http://mvchost/?