FelCor Lodging (FCH) Announces Sale of Holiday Inn Toronto-Yorkdale to Easton Hotel Group for C$22.9 Million
FelCor Lodging Trust Incorporated (NYSE: FCH) today announced that it has sold the Holiday Inn Toronto-Yorkdale to Easton Hotel Group for CAD $22.9 million.
Since December 2010, FelCor has sold nine non-strategic hotels for aggregate gross proceeds of $222 million and will use proceeds from asset sales for debt repayment to reach its desired leverage target. The Company continues to execute its long-term value creation strategy by creating a diversified portfolio of high-quality hotels located in major markets and resort locations that have dynamic demand generators and high barriers to entry that produce long-term growth above the industry.
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Since December 2010, FelCor has sold nine non-strategic hotels for aggregate gross proceeds of $222 million and will use proceeds from asset sales for debt repayment to reach its desired leverage target. The Company continues to execute its long-term value creation strategy by creating a diversified portfolio of high-quality hotels located in major markets and resort locations that have dynamic demand generators and high barriers to entry that produce long-term growth above the industry.
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