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NEW YORK CITY—Following up on a letter from activist shareholder Jonathan Litt, FelCor Lodging Trust Inc. said Friday it’s in negotiations to sell its Morgans and Royalton hotels in New York. Litt, the founder and CIO of Land and Buildings Management, had called for Irving, TX-based FelCor to sell all three of its New York properties as part of a plan to enhance strategic value, which could include a sale of the company

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