FelCor Reports First Quarter 2016 Earnings: Same-store RevPAR Increased by 4.7%
April 26, 2016 9:37am
IRVING, Texas-Apr. 26, 2016-- FelCor Lodging Trust Incorporated (NYSE: FCH) today reported results for the first quarter ended March 31, 2016.
First Quarter Highlights
“We are off to a solid start in 2016. RevPAR growth continued to outpace the industry, and we gained 1.2% in market share, reflecting both the high quality of our properties and strong operational performance. In addition, we are especially pleased that The Knickerbocker, which we opened in 2015, performed better than our expectations for the quarter,” said Richard A. Smith, President and Chief Executive Officer of FelCor.
Mr. Smith added, “In addition to our focus on operations, we are actively engaged in various stages of negotiations to sell five assets, as previously announced. We continue to believe we will reach an agreement on prices for these assets that will unlock significant real estate value for our investors. We also continue to purchase our common stock, at prices significantly below our net asset value, further demonstrating our confidence in our company and future prospects.”
Mr. Smith concluded, “Our outlook for the lodging sector remains positive, particularly in our core markets. As such, we are affirming our operational outlook for 2016.”
To view full financial results and tables click on PDF icon or visit:
q1 2016 financial results
FelCor Lodging Trust Incorporated , a real estate investment trust (REIT), owns a diversified portfolio of primarily upper-upscale and luxury hotels that are located in major urban and resort markets throughout the U.S. FelCor partners with top hotel companies that operate its properties under globally renowned names and as premier independent hotels. Additional information can be found on the Company’s website at www.felcor.com.
Contact: Stephen A. Schafer
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