FelCor Suspends Preferred Dividends – Operating Results Remain On Track
“In the face of a difficult operating environment, I am pleased with our operating results so far this year, which reflect the continued expense management at the hotels and market share growth. However, given our focus on preserving liquidity during the recession, we feel that it is prudent to suspend our preferred dividend until conditions improve,” said Richard A. Smith, FelCor’s President and Chief Executive Officer.FelCor, a real estate investment trust, is the nation’s largest owner of upper upscale, all-suite hotels. FelCor owns interests in 88 hotels and resorts, located in 23 states and Canada. FelCor’s portfolio consists mostly of upper upscale hotels, which are flagged under global brands such as Embassy Suites Hotels®, Doubletree®, Hilton®, Renaissance®, Sheraton®, Westin® and Holiday Inn®. Additional information can be found on the Company’s Web site at .
Stephen A. Schafer
VP Strategic Planning & Investor Relations