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FelCor Lodging Agrees to Sell Holiday Inn in Santa Barbara

Wednesday May 15th, 2013 - 9:08AM

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.