- Revenue per available room (“RevPAR”) for 65 same-store hotels (45 core and 20 non-strategic) increased 4.8% for the quarter.
- Hotel EBITDA increased 10% and Hotel EBITDA margins increased 87 basis points for the quarter.
- Adjusted EBITDA was $42.0 million and adjusted funds from operations (“FFO”) per share was a loss of $0.01 for the quarter, both of which exceeded guidance.
- Sold 10 hotels during 2012 for gross proceeds of $207.2 million and, as of January, launched the marketing process for all remaining non-strategic hotels for sale (excluding nine joint venture hotels).
- Sold, in December, $525 million of 5.625% senior notes due in March 2023 and used the proceeds to repay high-cost, short-term debt.
- Converting and repositioning eight core Holiday Inns to Wyndham-branded and managed hotels effective March 1, 2013.
- Net loss was $93.0 million for the quarter.
FelCor Reports Fourth Quarter Results
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