IRVING, TX—FelCor Lodging Trust Incorporated has sold the 560-room Renaissance Esmeralda Indian Wells Resort for gross proceeds of $75.9 million. FelCor will use the proceeds to repay borrowings under its line of credit, according to the company.
FelCor continues to make progress on its planned asset sales. The Company remains committed to redeploying proceeds from asset sales to repay debt and strengthen its balance sheet and funding investments that generate enhanced returns, such as stock repurchases and high-ROI redevelopment projects.