FCH FelCor Lodging Trust Inc. Announces its Troubled Assets Boosts FelCor Shares
FCH FelCor Lodging Trust Inc.
FelCor Lodging Trust Inc. could boost its value forfeiting several "underwater" properties to lenders helped increase the company’s shares by 5%. Analyst David Loeb said. The company had two mortgages, secured by three hotels, that had negative equity, and another 14 properties that were "borderline," and by abandoning the properties.
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ABOUT FelCor Lodging Trust
FelCor Lodging Trust Incorporated operates as a lodging real estate investment trust (REIT) primarily in the United States. It owns various hotels, including Embassy Suites Hotels, Doubletree, Hilton, Sheraton/Westin, Holiday Inn, and Crown Plaza hotels in North America. As of March 16, 2006, the company’s hotel portfolio comprised of 117 consolidated hotels located in 28 states and Canada. FelCor Lodging Trust has elected to be taxed as a REIT under the federal income tax laws. As a REIT, it would not be taxed on the portion of its income, which is distributed to shareholders provided it distributes at least 90% of its taxable income. The company has strategic alliances with Hilton Hotels Corporation; InterContinental Hotels Group PLC; and Starwood Hotels & Resorts Worldwide, Inc. FelCor Lodging Trust was founded in 1994. It was formerly known as FelCor Suite Hotels, Inc. and changed its name to FelCor Lodging Trust Incorporated in 1998. The company is based in Irving, Texas.
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