NASHVILLE-FelCor Lodging Trust Inc. will sell the 296-room Embassy Suites near the Nashville International Airport along with New Orleans Embassy Suites, a 370-room hotel, for an aggregate price of $70 million. The buyer of the two non-strategic hotels was not disclosed.
The deal is scheduled to be closed in October. FelCor is selling the two hotels as part of its portfolio repositioning strategy. The company is expecting use a part of the proceeds to pay off the remaining accrued preferred dividends. For the full story, go to Nashville Business Journal .
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