| IRVING, Texas�March 31, 1999 � FelCor Lodging Trust Incorporated
(NYSE:FCH), one of the nation�s largest hotel real estate investment trusts
(REIT), today announced the declaration of its first quarter dividends.
FelCor will pay $0.55 per share on its Common Stock, $0.4875 per share
on its $1.95 Series A Cumulative Convertible Preferred Stock and $0.5625
per depository share on its 9% Series B Cumulative Redeemable Preferred
Stock. The first quarter dividends will each be payable on
April 30, 1999, to stockholders of record on April 15, 1999.
�For the last five years, FelCor�s dividends have provided an attractive
yield to shareholders,� said Thomas J. Corcoran, Jr., FelCor�s President
and CEO. �Based on yesterday�s closing price for FelCor Common Stock on
the New York Stock Exchange, the regular first quarter dividend represents
nearly a 9.5% annualized yield to FelCor�s shareholders.�
FelCor Lodging Trust is one of the nation�s largest hotel REITs.
Since its initial public offering in 1994 with six hotels and 1,479 suites,
FelCor�s portfolio has grown to 189 hotels with nearly 50,000 rooms and
suites. The company�s hotel portfolio is primarily concentrated in
the upscale and full-service segments. FelCor is the owner of the
largest number of Embassy Suites®, Crowne Plaza®, Holiday Inn®
and independently owned Doubletree®-branded hotels. Other leading
hotel brands under which FelCor�s hotels are operated include Sheraton
Suites®, Sheraton® and Westin®. FelCor has a current market
capitalization of approximately $3.5 billion. Additional information
on the company can be found on the Web at http:/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 and are qualified by cautionary statements
contained herein and in FelCor�s filings with the Securities and Exchange
Commission. |
