FelCor Lodging Trust Incorporated FCH today announced that it
sold its 225-room Embassy Suites Hotel – Raleigh and 536-room Westin –
Dallas Park Central for aggregate gross proceeds of $63.6 million in
separate transactions. FelCor is using asset sale proceeds to repay
outstanding debt.
FelCor has also agreed to sell the 261-room Embassy Suites Hotel – San
Antonio Airport for $29.5 million. The purchaser has paid a $500,000
non-refundable deposit toward the purchase price. FelCor expects to
close the sale in March.
FelCor is nearing the completion of its portfolio repositioning plan,
having sold 34 non-strategic hotels for aggregate gross proceeds of $764
million to date. Following
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