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Felcor, as Part of its Repositioning Strategy, Agrees To Sell Two Hotels,
the 370-room Embassy Suites, New Orleans-Convention Center and the
296-room Embassy Suites, Nashville-Airport for $70 million


IRVING, Texas, September 19, 2012 – FelCor Lodging Trust Incorporated (NYSE: FCH) today announced that it has agreed to sell the 370-room Embassy Suites – New Orleans-Convention Center and the 296-room Embassy Suites – Nashville-Airport for an aggregate purchase price of $70 million.  The purchaser has paid a $2.1 million hard money deposit toward the purchase price.  The transaction is expected to close in October.
 
FelCor expects to use a portion of the proceeds to pay the remaining $37.7 million of accrued preferred dividends when the company pays its regular quarterly preferred dividends on October 31, 2012.   
 
As part of FelCor’s long-term portfolio repositioning strategy, the company is selling 39 non-strategic hotels.  After selling the two hotels discussed above, FelCor will have sold 18 of the 25 hotels that it has brought to market since December 2010.  The company continues to make significant progress using asset sale proceeds to strengthen its balance sheet.
 
About FelCor  
FelCor, a real estate investment trust, owns 69 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® and Holiday Inn®, and premier independent hotels in New York.  Additional information can be found on the Company's Web site 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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Contact: 

FelCor Lodging Trust Incorporated 
Stephen A. Schafer
Vice President Strategic Planning & Investor Relations
972-444-4912
sschafer@felcor.com

 

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Also See: FelCor Closes on Sale of the 222-room Embassy Suites – Anaheim-North Hotel in California for $25.5 Million to Urban Common / August 2012

FelCor Agrees to Sell the 222-room Embassy Suites – Anaheim-North Hotel in California for $25.5 million to Urban Common / July 2012

FelCor Lodging Trust Closes on Sale of Six Hotels, a Portfolio of 1,527 rooms, for $103 Million / June 2012

FelCor Lodging Trust to Sell Six Non-Strategic Hotels as Part of Repositioning Strategy for $103.0 Million to an Undisclosed Buyer; Portfolio Comprised of 1,527 Rooms / April 2012

Felcor Lodging Trust Promotes Jeffrey D. Symes As Senior Vice President, Chief Accounting Officer And Controller / April 2012

FelCor Lodging Trust Sells the Holiday Inn Toronto-Yorkdale in Canada to Easton Hotel Group / December 2011

FelCor Names Troy A. Pentecost as EVP and Chief Operating Officer / July 2010

FelCor Names Donald J. Falgoust as Vice President Food & Beverage / February 2008
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