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 •
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.