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Stock Market & Financial Investment News

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April 2, 2014
09:18 EDTFCHFelcor 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.
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