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 •
When you hear all the lodging industry projections for the months and years to come, much of the robust growth is forecast to be the result of the expected influx of travelers from China. In what could only be seen as good news for the industry, that expectation moved a little closer to reality when President Obama signed a visa waiver extension for Chinese travelers earlier this month.