Hotel Online Special Report

 Massachusetts Mutual Life Insurance Provides 
FelCor with $75 Million Term Loan
IRVING, Texas…May 17, 1999—FelCor Lodging Trust Incorporated (NYSE:FCH), one of the nation’s largest hotel real estate investment trusts (REITs), today announced the closing of a 10-year, $75 million First Mortgage Term Loan with Massachusetts Mutual Life Insurance Company.  The non-recourse loan, secured by six Embassy Suites® hotels, carries a fixed rate coupon of 7.55%, matures in May 2009 and amortizes over 25 years.  The loan was used to reduce FelCor’s outstanding borrowings to $572 million under its existing $850 million Line of Credit.

“The completion of this previously announced financing transaction, together with the financing of $475 million of debt completed in April 1999, allows FelCor to extend its debt maturities,” stated Thomas J. Corcoran Jr., FelCor’s President and Chief Executive Officer. “Our focus and commitment to a sound financial structure is evidenced by the Company’s 38% consolidated debt-to-asset ratio,” stated Corcoran.

FelCor Lodging Trust is one of the nation's largest hotel REITs with 188 hotels and nearly 50,000 rooms and suites.  The Company?s hotel portfolio is concentrated primarily in the upscale and full-service segments.  FelCor is the owner of the largest numbers 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  $3.6 billion. 
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.

Thomas J. Corcoran, Jr.
President & CEO
Randy L. Churchey
Senior Vice President & CFO
Monica L. Hildebrand
Vice President/Director of Communications
(972) 444-4900
Also See: Felcor's First Quarter Dividend Represents a 9.5% Annualized Yield for Shareholders / March 1999 
Prudential Originates $100 Million Loan With FelCor Lodging Trust / April 1999 

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