FelCor Sells the Embassy Suites Hotel in Atlanta for $17M
Wednesday February 5th, 2014 - 9:45AM EB
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ATLANTA—FelCor Lodging Trust Incorporated has sold its 232-room Embassy Suites hotel located here for $17.2 million.
The company also agreed to sell its 218-room Embassy Suites hotel in Bloomington, MN for $24 million. The purchaser has paid a non-refundable deposit toward the purchase price, and FelCor expects the sale to close in March.
FelCor is using asset sales proceeds to repay outstanding debt, including the $11-million loan secured by the Atlanta property.
Tags: FelCor • Hospitality • Brands • Acquisitions •
For the past few years, the talk of The Lodging Conference in Phoenix had been focused on the economic recovery, solid industry projections and “cautious optimism.” With the word cautious no longer necessary, the economic outlook took a backseat this year to the seemingly unending parade of new lifestyle brands.