Felcor Sells 446-key Holiday Inn-Toronto Airport & 221-key Embassy Suites Hotel-Indianapolis North
Gross Proceeds of $29 Million
IRVING, Texas - September 17, 2014 - FelCor Lodging Trust Incorporated (NYSE: FCH) today announced that it sold its 446-room Holiday Inn-Toronto Airport and 221-room Embassy Suites Hotel-Indianapolis North for aggregate gross proceeds of $29 million in separate transactions. FelCor is using asset sale proceeds to repay outstanding debt.
FelCor continues to progress with its portfolio repositioning plan. To date, FelCor has sold 30 non-strategic hotels for aggregate gross proceeds of $655 million.
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.
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