Felcor Lodging Trust to buy 2 New York hotels from Morgans

04/1/2011 | Reuters

Felcor Lodging Trust has reached an agreement with Morgans Hotel Group to buy the Morgans and Royalton hotels, a source said. In a regulatory filing, Felcor said it planned to spend about $140 million to purchase 300 luxury hotel rooms in midtown Manhattan. As of Dec. 31, the Morgans and Royalton had 282 rooms combined.

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