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Stock Market & Financial Investment News

News Breaks
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.
News For FCH From The Last 14 Days
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October 30, 2014
08:05 EDTFCHFelcor Lodging sees FY14 adjusted FFO 60c-62c, consensus 59c
"We have increased our RevPAR and EBITDA outlook, primarily reflecting better than expected third quarter results. Our improved 2014 outlook reflects continuing strong lodging industry fundamentals. Our expected RevPAR growth exceeds overall RevPAR growth projections for the industry because of our high-quality diverse portfolio and continuing strong growth at our six acquired and recently redeveloped hotels." For 2014, RevPAR for same-store hotels will increase 9.25 - 9.5%, and RevPAR for comparable hotels will increase 8.0 - 8.25%; Adjusted EBITDA will be $217.5M- $219.5M; Interest expense, including our pro rata share from joint ventures, will be $95.5M.
08:03 EDTFCHFelcor Lodging reports Q3 adjusted FFO 21c, consensus 21c
Reports Q3 revenue $234.1M, consensus $233.44M. Same-store RevPAR increased 12.3%; RevPAR for comparable core hotels increased 9.8%.

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