FelCor Agrees to Sell Embassy Suites Baton Rouge
Monday August 5th, 2013 - 10:18AM E
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IRVING, TN—FelCor Lodging Trust Incorporated has agreed to sell the 223-room Embassy Suites in Baton Rouge for $20 million.
The purchaser has paid a $2 million non-refundable deposit toward the purchase price.
According to the company, all proceeds from the sale will be used to repay outstanding debt. FelCor expects the sale to close in August.
Tags: • Hospitality • Acquisitions •
The theme of this year’s ALIS conference was “Don’t Worry, Be Happy.” But, lets face it, there are always going to be some people who aren’t happy unless they are worried about something—whether it’s the Fed potentially raising interest rates or that the price of oil is now too low, threatening to cripple the economies of some foreign nations.