FelCor Lodging Trust Disposes of Two More Assets

IRVING, TX—FelCor Lodging Trust Incorporated has sold its 196-room Doubletree Suites Hotel-Dana Point and its 251-room Embassy Suites Hotel-BWI Airport for aggregate gross proceeds of $54.1 million.

FelCor, a real estate investment trust based here, continues to progress with its portfolio repositioning plan. The company is currently negotiating contracts or has agreed to sell four other hotels for aggregate proceeds of approximately $73 million.

FelCor is using asset sale proceeds to repay outstanding debt. To date, FelCor has sold 28 non-strategic hotels for aggregate gross proceeds of $627 million.