FelCor Lodging Trust Sells Two Non-Strategic Hotels For $54.1 Mln

(RTTNews) - FelCor Lodging Trust Inc. (FCH) 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.