FelCor Sells Holiday Inn Hotel in Toronto
06 Dezembro 2011 - 12:29PM
Business Wire
FelCor Lodging Trust Incorporated (NYSE: FCH) today announced
that it has sold the Holiday Inn Toronto-Yorkdale to Easton Hotel
Group for CAD $22.9 million.
Since December 2010, FelCor has sold nine non-strategic hotels
for aggregate gross proceeds of $222 million and will use proceeds
from asset sales for debt repayment to reach its desired leverage
target. The Company continues to execute its long-term value
creation strategy by creating a diversified portfolio of
high-quality hotels located in major markets and resort locations
that have dynamic demand generators and high barriers to entry that
produce long-term growth above the industry.
FelCor, a real estate investment trust, owns 76 primarily
upper-upscale, full-service hotels that are located in major and
resort markets throughout 22 states. FelCor partners with leading
hotel companies to operate its diversified portfolio of hotels,
which are flagged under globally recognized names such as,
Doubletree®, Embassy Suites®, Fairmont®, Hilton®, Marriott®,
Renaissance®, Sheraton®, Westin®, Holiday Inn®, and premier
independent hotels in New York. Additional information can be found
on the Company's Web site at www.felcor.com.
Felcor Lodging (NYSE:FCH)
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