Felcor agrees to sell Doubletree Suites in Charlotte for $37M FelCor Lodging announced that it has agreed to sell the 208-room Doubletree Suites Hotel Charlotte-SouthPark for $37M. The purchaser has paid a $900K non-refundable deposit toward the purchase price. FelCor expects the sale to close in May. FelCor 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 $80M. FelCor will use the proceeds from selling these assets to repay outstanding debt.
FelCor to sell Morgans, Royalton hotels in New York FelCor Lodging Trust (FCH) announced that it is in negotiations to sell its Morgans and Royalton hotels in New York. Proceeds from these opportunistic asset sales will be used to fund initiatives intended to create significant stockholder value. FelCor and Morgans Hotel Group (MHGC), which operates the hotels, have agreed that FelCor may sell the hotels unencumbered by management. Morgans will continue to manage the properties for FelCor until they are sold.