FelCor sells three non-strategic hotels

FelCor Lodging Trust Incorporated sold the 274-room Embassy Suites Charlotte (which was owned 50 percent in a joint venture), the 216-room Embassy Suites San Antonio-NW I-10 and the 260-room Embassy Suites Austin-Central for aggregate gross proceeds of $90 million. FelCor is using asset sale proceeds to repay outstanding debt. 

FelCor nearly completed its portfolio repositioning plan, with 38 non-strategic hotels sold for aggregate gross proceeds of $884 million. FelCor executed contracts to sell the two remaining non-strategic hotels (both of which have non-refundable deposits) and expects to sell both in the third quarter of this year.

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