FelCor Lodging Trust To Sell Doubletree Suites In Charlotte For $37 Mln

(RTTNews) - FelCor Lodging Trust Inc. (FCH) announced that it has agreed to sell the 208-room Doubletree Suites Hotel Charlotte-SouthPark for $37 million. The purchaser has paid a $900,000 non-refundable deposit toward the purchase price. FelCor expects the sale to close in May.

FelCor said it 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 about $80 million. FelCor will use the proceeds from selling these assets to repay outstanding debt. To date, FelCor has sold 26 non-strategic hotels as part of its plan.