Some hotel REITs are turning to a strategy of selling assets to strengthen their portfolios. While many hotel REITs are using the down market to buy properties, companies such as Felcor Lodging Trust and Strategic Hotels & Resorts are pruning their portfolios. "Given the current hotel environment, we're inclined to pay down our debt with the proceeds from asset sales," said Stephen Schafer, vice president of strategic planning for Felcor.

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