FelCor Lodging Trust has announced the sale of the 168-room Royalton New York to Rockpoint Group and Highgate.
IRVING, Texas--Aug. 1, 2017-- FelCor Lodging Trust Incorporated (NYSE: FCH) today announced that it has sold its 168-room Royalton New York hotel to a joint venture between Rockpoint Group and Highgate for gross proceeds of $55 million. FelCor will use net proceeds to repay borrowings under its line of credit.
FelCor, a real estate investment trust, owns a diversified portfolio of primarily upper-upscale hotels that are located in major urban and resort markets throughout the U.S. FelCor partners with top hotel companies that operate its properties under globally renowned names and as premier independent hotels. Additional information can be found on the company's website at www.felcor.com.
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