FelCor Sheds Nashville Hotel in Package Deal Worth $70M
- Oct 02, 2012
FelCor Lodging Trust Incorporated recently announced entering an agreement to sell two hotel properties in the Southern US for a combined price of $70 million. The properties are the 296-key Embassy Suites Nashville—Airport and the 370-key Embassy Suites Hotel New Orleans—Convention Center.
Located at 10 Century Blvd. Embassy Suites Nashville—Airport is only five minutes from Nashville International Airport and a mere seven miles from downtown Nashville, making it a feasible option for both leisure and business trips.
Hotel amenities include 14,000 sq. ft. of flexible event and banquet space, a 24/7 Embassy BusinessLink Business Center (with complimentary access), an indoor pool, whirlpool, game room and an Embassy Suites Fitness Center.
All suites have a private bedroom and separate furnished living area, both equipped with televisions, featuring cable TV and pay-per-view movies. All suites are equipped with a two-line direct dial phone, alarm clock able to connect with portable devices such as iPods and MP3 players, microwave, refrigerator, hairdryer, Ironing board with iron, coffee maker with complimentary coffee/tea. Rooms have high-speed wireless internet access. Suites’ living areas come furnished with a wet bar, work/dining table, sofa bed and armchair.
Dining options include cooked-to-order complimentary breakfasts, nightly Manager’s Receptions featuring coddle beverages served in the hotel atrium, as well as the moderately priced Music City Bistro with its signature as well as classic menus.
The deal is expected to close next month with the unnamed buyer already depositing $2.1 million towards the purchase price. The sale is part of FelCor’s long-term portfolio repositioning strategy. Through the portfolio repositioning procedures, FelCor seeks to divest itself of 39 (non-strategic) hotels from its total of 69. It has shed 18 of the 25 properties it has put on the market since December 2010.
FelCor, a real estate investment trust, owns 69 primarily upscale, full-service hotels in major and resort markets in 22 states. FelCor partners with leading hotel brands such as Doubletree, Embassy Suites, Hilton, Marriott, Sheraton and Westin as well as premier independent hotels in New York
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Photo credit: Embassy Suites Nashville – Airport’s Goggle Plus page