FelCor Agrees to Sell Doubletree Suites in Charlotte for $37M

FelCor Lodging Trust Incorporated

today announced that it has agreed to sell the 208-room Doubletree Suites Hotel Charlotte-SouthPark for $37 million. The purchaser has paid a $900,000 non-refundable deposit toward the purchase price. FelCor expects the sale to close in May. 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 $80 million. FelCor will use the proceeds from selling these assets to repay outstanding debt. To date, FelCor has sold 26 non-strategic hotels as part of its plan. About FelCor 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.