FelCor Lodging Trust reports that revenue per available room at its 63 hotels rose 2.1% from the previous year amid a 2.5% rise in average daily rate. Excluding eight former Holiday Inn properties that have recently undergone rebranding as Wyndham hotels, revPAR was up 5.7%, reflecting a 3.7% increase in ADR. The eight rebranded hotels showed a 17% revPAR decline during the period, which FelCor President and CEO Rick Smith says was caused by renovations and the transition in management. "We expect the performance of our Wyndham portfolio to improve meaningfully throughout the year as the transitional disruption subsides," Smith said.
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