- Revenue per available room ("RevPAR") for 69 same-store hotels increased 3.6%. RevPAR for same-store hotels not under renovation or redevelopment increased 7.1%.
- Hotel EBITDA margin remained the same as the prior year at 21.8% for the quarter and increased 125 basis points for hotels not under renovation.
- Adjusted funds from operations ("FFO") per share were a loss of $0.02, and Adjusted EBITDA was $41.4 million, both of which met the high end of our expectations.
- Net loss was $28.9 million.
- Agreed to sell six non-strategic hotels for $103 million. Proceeds from the sale will be used to repay $73 million of related debt and other costs with the remaining proceeds used to pay $30 million of accrued preferred dividends.
FelCor Reports First Quarter Results
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