Felcor Announces Sale of Three Non-Strategic Hotels
IRVING, TX, July 16, 2015 - FelCor Lodging Trust Incorporated (NYSE: FCH) today announced that it sold the 274-room Embassy Suites Charlotte (which was owned 50% in a joint venture), the 216-room Embassy Suites San Antonio-NW I-10 and the 260-room Embassy Suites Austin-Central for aggregate gross proceeds of $90 million. FelCor is using asset sale proceeds to repay outstanding debt.
FelCor has nearly completed its portfolio repositioning plan, with 38 non-strategic hotels sold for aggregate gross proceeds of $884 million. FelCor has executed contracts to sell the two remaining non-strategic hotels (both of which have non-refundable deposits) and expects to sell both in the third quarter of this year.
About FelCor
FelCor, a real estate investment trust, owns a diversified portfolio of primarily upper-upscale and luxury hotels that are located in major and resort markets throughout the U.S. FelCor partners with leading hotel companies to operate its hotels, which are flagged under globally renowned names and premier independent hotels. Additional information can be found on the Company's website at www.felcor.com.
Contact:
Stephen A. Schafer
[email protected]
(972) 444-4912
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
