IRVING, Texas -- (Business Wire)
FelCor Lodging Trust Incorporated (NYSE: FCH) today announced that it
sold the 274-room Embassy Suites Charlotte (which was owned 50% in a
joint venture), the 216-room Embassy Suites San Antonio-NW I-10 and the
260-room Embassy Suites Austin-Central for aggregate gross proceeds of
$90 million. FelCor is using asset sale proceeds to repay outstanding
debt.
FelCor has nearly completed its portfolio repositioning plan, with 38
non-strategic hotels sold for aggregate gross proceeds of $884 million.
FelCor has executed contracts to sell the two remaining non-strategic
hotels (both of which have non-refundable deposits) and expects to sell
both in the third quarter of this year.
About FelCor
FelCor, a real estate investment trust, owns a diversified portfolio of
primarily upper-upscale and luxury hotels that are located in major and
resort markets throughout the U.S. FelCor partners with leading hotel
companies to operate its hotels, which are flagged under globally
renowned names and premier independent hotels. Additional information
can be found on the Company's website at www.felcor.com.
With the exception of historical information, the matters discussed
in this news release include “forward-looking statements” within the
meaning of the federal securities laws that are qualified by cautionary
statements herein and in FelCor’s filings with the Securities and
Exchange Commission.We undertake no obligation to update any
forward-looking statement to conform the statement to actual results or
changes in our expectations.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150714006179/en/
Contacts:
FelCor Lodging Trust Incorporated
Stephen A. Schafer, 972-444-4912
Senior
Vice President
sschafer@felcor.com
Source: FelCor Lodging Trust Incorporated
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