BATON ROUGE, LA-The Baton Rouge Advocate reports that FelCor Lodging Trust Inc. of Irving, TX has sold the 223-room Embassy Suites to another Irving-based entity operating under the name of ERGS III BR Hotel. The hotel REIT received $20 million for the hotel.
The Advocate article says that the property at 4914 Constitution Ave. is targeted for an update. The article quotes a spokeswoman from Aimbridge Hospitality, which is managing the hotel, as saying that an extensive, multimillion-dollar renovation of the hotel is being planned. The renovation will involve upgrades of the rooms, public spaces and meeting rooms, and the hotel will remain open during the renovation.
FelCor has owned the property since 1996, when it acquired it for $30 million as part of a $275-million portfolio acquisition that included nine other hotels.
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