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December 19, 2010

FelCor Sells US Sheraton Hotel

FelCor Lodging Trust has sold the 443-room Sheraton Premiere Hotel at Tysons Corner in Virginia, US to JBG Companies for $84.5m. Following the transaction, the hotel will continue to be managed by Starwood Hotels & Resorts as a Sheraton under a long-term management contract.

By cms admin

FelCor Lodging Trust has sold the 443-room Sheraton Premiere Hotel at Tysons Corner in Virginia, US to JBG Companies for $84.5m.

Following the transaction, the hotel will continue to be managed by Starwood Hotels & Resorts as a Sheraton under a long-term management contract.

The property was owned in a joint venture between FelCor and Starwood Hotels & Resorts Worldwide.

FelCor received $42.25m from the sale as there was no debt associated with the hotel.

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