FelCor Completes Sale of 560-Room Renaissance Esmeralda Indian Wells Resort for $75.9 Million

FelCor | August 3, 2016

IRVING, Texas--August 3, 2016--FelCor Lodging Trust Incorporated (NYSE: FCH) today announced that it sold the 560-room Renaissance Esmeralda Indian Wells Resort for gross proceeds of $75.9 million. FelCor will use the proceeds to repay borrowings under its line of credit. FelCor continues to make progress on its planned asset sales. The Company remains committed to redeploying proceeds from asset sales to repay debt and strengthen its balance sheet and funding investments that generate enhanced returns, such as stock repurchases and high-ROI redevelopment projects. ...