FelCor Agrees to Sell Holiday Inn in Santa Barbara
IRVING, Texas--(BUSINESS WIRE)-- FelCor Lodging Trust Incorporated (NYS: FCH) today announced that it has agreed to sell the 160-room Holiday Inn-Santa Barbara/Goleta for $24 million. The purchaser has paid a non-refundable deposit of $960,000 toward the purchase price. FelCor expects the sale to close in June. FelCor expects to use all of the proceeds to repay outstanding debt.
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 66 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.
With the exception of historical information, the matters discussed in this news release include "forward-looking statements" within the meaning of the federal securities laws that are qualified by cautionary statements herein and in FelCor's filings with the Securities and Exchange Commission.We undertake no obligation to update any forward-looking statement to conform the statement to actual results or changes in our expectations.
FelCor Lodging Trust Incorporated
Stephen A. Schafer, 972-444-4912
Vice President Strategic Planning & Investor Relations
KEYWORDS: United States North America California Texas
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