FelCor | March 18, 2015
IRVING, Texas–FelCor Lodging Trust Incorporated (NYSE: FCH) today announced that it sold its 261-room Embassy Suites Hotel – San Antonio Airport for $29.5 million. As with other asset sales, FelCor will use the proceeds from selling this hotel to repay outstanding debt.
FelCor has nearly completed its portfolio repositioning plan. Since 2010, FelCor has sold 35 non-strategic hotels for aggregate gross proceeds of $794 million. The company has five remaining non-strategic hotels to sell, of which three hotels are already under contract and calls for offers will be made for the other two hotels later this month.
