FelCor Announces Sale of Two Non-Strategic Hotels, Enters Agreement to Sell Third
17 Fevereiro 2015 - 11:37AM
Business Wire
FelCor Lodging Trust Incorporated (NYSE: FCH) today announced
that it sold its 225-room Embassy Suites Hotel – Raleigh and
536-room Westin – Dallas Park Central for aggregate gross proceeds
of $63.6 million in separate transactions. FelCor is using asset
sale proceeds to repay outstanding debt.
FelCor has also agreed to sell the 261-room Embassy Suites Hotel
– San Antonio Airport for $29.5 million. The purchaser has paid a
$500,000 non-refundable deposit toward the purchase price. FelCor
expects to close the sale in March.
FelCor is nearing the completion of its portfolio repositioning
plan, having sold 34 non-strategic hotels for aggregate gross
proceeds of $764 million to date. Following the sale of the two
hotels announced today, there are six remaining non-strategic
hotels to be sold.
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.
FelCor Lodging Trust IncorporatedStephen A. Schafer,
972-444-4912Vice President Strategic Planning & Investor
Relationssschafer@felcor.com
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