FelCor Announces Sale of the Renaissance Esmeralda Indian Wells Resort
02 Agosto 2016 - 3:03PM
Business Wire
FelCor Lodging Trust Incorporated (NYSE: FCH) today announced
that it sold the 560-room Renaissance Esmeralda Indian Wells Resort
for gross proceeds of $75.9 million. FelCor will use the proceeds
to repay borrowings under its line of credit.
FelCor continues to make progress on its planned asset sales.
The Company remains committed to redeploying proceeds from asset
sales to repay debt and strengthen its balance sheet and funding
investments that generate enhanced returns, such as stock
repurchases and high-ROI redevelopment projects.
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20160802006721/en/
FelCor Lodging Trust IncorporatedStephen A. Schafer,
972-444-4912Senior Vice Presidentsschafer@felcor.com
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