FelCor Sells Embassy Suites Nashville and New Orleans for $70M
FelCor Lodging Trust Incorporated (NYSE: FCH) today announced that it sold 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.
FelCor is using the net proceeds to pay the remaining $37.7 million of accrued preferred dividends and to repay debt.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.