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Stock Market & Financial Investment News

News Breaks
June 11, 2014
09:01 EDTFCHFelcor sells two non-strategic hotels for aggregate gross proceeds of $54.1M
FelCor Lodging Trust Incorporated announced that it has sold its 196-room Doubletree Suites Hotel-Dana Point and its 251-room Embassy Suites Hotel-BWI Airport for aggregate gross proceeds of $54.1M. 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 $73M. FelCor is using asset sale proceeds to repay outstanding debt. To date, FelCor has sold 28 non-strategic hotels for aggregate gross proceeds of $627M.
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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