FelCor Lodging Agrees to Sell Holiday Inn in Santa Barbara
Wednesday May 15th, 2013 - 9:08AM E
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IRVING, TX—FelCor Lodging Trust Incorporated has agreed to sell the 160-room Holiday Inn-Santa Barbara/Goleta for $24 million.
FelCor has received a nonrefundable deposit of $960,000 toward the purchase price from the undisclosed buyer and the company expects the sale to close in June.
FelCor expects to use all of the proceeds to repay outstanding debt.
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.