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News Breaks
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April 4, 2011
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| 08:01 EDT |  | FCH |
| theflyonthewall.com: | Felcor Lodging to acquire two New York hotels | | FelCor Lodging Trust has entered into a binding purchase and sale agreement to acquire the fee-simple interests in two midtown Manhattan hotels, The Royalton and Morgans, for $140M from Morgans Hotel Group. MHGC will continue to manage the properties, which have a total of 282 guest rooms, under a long-term management agreement. FelCor expects to complete the purchase of these two iconic hotels, funded with cash on hand, in Q2. :theflyonthewall.com |
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