IRVING, Texas, June 11, 2014 – FelCor Lodging Trust Incorporated (NYSE: FCH) today announced that it has sold its 196-room Doubletree Suites Hotel-Dana Point and its 251-room Embassy Suites Hotel-BWI Airport for aggregate gross proceeds of $54.1 million.
FelCor continues to progress with its portfolio repositioning plan. The company is currently negotiating contracts or has agreed to sell four other hotels for aggregate proceeds of approximately $73 million. FelCor is using asset sale proceeds to repay outstanding debt. To date, FelCor has sold 28 non-strategic hotels for aggregate gross proceeds of $627 million.
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.
Contact: Stephen A. Schafer,
Vice President Strategic Planning & Investor Relations