FelCor's newest gems are the 560-room Renaissance EsmeraldaResort & Spa at 44-400 Indian Wells Lane in Indian Wells, CAand 361-room Renaissance Vinoy Resort & Golf Club at 501 FifthAve. NE in St. Petersburg, FL. In taking the deeds, FelCor inked anew long-term management pact for the resorts' long-time managementcompany, Bethesda, MD-based Marriott International Inc.

The $244,000 per key purchase is 13 times the hotels' projected2008 EBITDA, according to the local REIT. Also, the two resorts'projected 2008 RevPAR is $140 or 47% more than the rest of FelCor'scurrent portfolio.

The industry-acclaimed Renaissance Esmeralda Resort & Spasits on 70 acres at the base of the Santa Rosa Mountains. Amenitiesinclude 90,000 sf of meeting space, inside and out, a 12,000-sfspa, tennis facility and award-winning restaurants plus its part ofthe Indian Wells Golf Resort, which recently underwent an$80-million renovation.