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FelCor Sells the Embassy Suites Hotel in Atlanta for $17M

Wednesday February 5th, 2014 - 9:45AM

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.