IRVING, TX-In its efforts to continue disposing of non-strategicassets to reposition its portfolio, FelCor Lodging TrustInc. entered into an agreement to sell two Embassy Suitesfor an aggregate price of $70 million. The unnamed buyer has paid$2.1 million hard money deposit toward the purchase price, with thetransaction anticipated to close in October, 2012.

The two hotels under contract are the 370-room EmbassySuites-New Orleans-Convention Center at 315 Julia St. and the296-room Embassy Suites Nashville-Airport at 10 Century Blvd. Aportion of the proceeds from the sale will be used to pay theremaining $37.7 million of accrued preferred dividends in lateOctober.

The company has been working to shed 39 of its non-core hotels;after the two Embassy Suites close, FelCor will have seven hotelsremaining from the 25 hotels brought to market in December 2010.The asset sales are being used to help strengthen the REIT'sbalance sheet.