IRVING, TX—FelCor Lodging Trust Incorporated is in negotiations to sell its Morgans and Royalton hotels in New York. Proceeds from these opportunistic asset sales will be used to fund initiatives intended to create significant stockholder value.
FelCor and Morgans Hotel Group, which operates the hotels, have agreed that FelCor may sell the hotels unencumbered by management. Morgans will continue to manage the properties for FelCor until they are sold.