FelCor Lodging Trust will sell six hotels to an unnamed buyer for $103 million. The sale of the hotels, which comprise 1,527 rooms, represents a 6.8% cap rate. The transaction will close in the second quarter. The hotels are the Holiday Inn San Antonio-Airport, the Sheraton Suites Fort Lauderdale-Cypress Creek in Florida, two Doubletree Guest Suites hotels -- one in Raleigh/Durham, N.C., and the other in Tampa, Fla. -- and two Embassy Suites hotels. These are in Boca Raton, Fla., and St. Paul, Minn.
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