Thursday, May 13, 2010

“FelCor Gets New Loan, Tranfers Two Hotels to Lender” plus 2 more

“FelCor Gets New Loan, Tranfers Two Hotels to Lender” plus 2 more

FelCor Gets New Loan, Tranfers Two Hotels to Lender

Posted: 13 May 2010 12:24 PM PDT

Irving, TX-based Felcor Lodging Trust has obtained a new $212 million loan, secured by nine hotels, that matures in 2015.

The new loan bears interest at LIBOR (subject to a 3.0% floor) plus 5.1%. The proceeds were used to repay $210 million in loans that were secured by 11 hotels and were scheduled to mature in May 2010. With this financing, Felcor resolved all but two of its remaining 2010 debt maturities on terms more favorable than the refinanced debt; the financing also unencumbered two previously mortgaged hotels.

The two remaining loans (totaling $32 million) were scheduled to mature in May 2010. The cash flows for the hotels that secure those loans do not cover debt service, and the company stopped funding the shortfalls in December 2009. Unable to negotiate an acceptable debt modification or reduction that would be in the best interests of its stockholders with regard to these loans, those hotels will be transferred to the lenders in full satisfaction of the debt.

 


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HotelsCombined.com Names the Top 10 Quirkiest Hotels Worldwide

Posted: 13 May 2010 06:18 AM PDT

WILMINGTON, DE--(Marketwire - 05/13/10) - Today's adventure traveler seeks out extraordinary lodging accommodations that complement their unique travel style, off-the-beaten path hotels and resorts that on their own provide memorable travel experiences. To satisfy every type of traveler's whims, HotelsCombined.com includes some of the world's most unusual hotels in its database and has compiled the Top 10 Quirkiest Hotels Worldwide. Whether travelers wish to sip on perfectly chilled martinis in negative ten degrees Celsius at the KUBE Hotel, connect with their inner-self at the restored thousand-year-old Gamirasu Cave Hotel, or ditch their wheels for elephant chauffeur pick up at the Elephant Park Safari Lodge, travelers can rest assured they found the best hotel deals at www.HotelsCombined.com -- the world's largest hotel search engine and price aggregator.

HotelsCombined.com Top 10 Quirkiest Hotels

1. Jumbo Hostel -- Stockholm, Sweden -- Housed in a grounded Boeing 747, this jumbo jet hostel is fittingly located at the Arlanda International Airport where curious onlookers can grab coffee at the hostel's Jumbo Café and weary frequent flyers can unwind with a stay in the luxurious cockpit suite.

2. KUBE Hotel -- Paris, France -- Described as "an innovative and high tech universe," the KUBE has a futuristic atmosphere that boasts the invigorating Ice Kube Bar, Paris' first ice bar. At negative ten degrees Celsius and all on ice, the hotel happily supplies patrons with parkas and gloves.

3. Gamirasu Cave Hotel -- Cappadocia, Turkey -- Located in a restored thousand-year-old Byzantine monastic retreat, the twenty-five room cave hotel offers a truly spiritual experience with relaxing body care massages, traditional Turkish cuisine courses and a historical cave church perfect for authentic cultural weddings.

4. Madonna Inn -- San Luis Obispo, California, United States -- A landmark attraction on California's Central Coast, the Madonna Inn has 110 rooms each with a special theme. The rooms range from the bizarre Merry-Go-Round Room and the lively Safari Room to the French-style Love Nest and the deliciously adorned Sugar & Spice.

5. Ariau Amazon Towers Hotel -- Manaus, Brazil -- The largest treetop hotel in the world, this amazing hotel is nestled in a canopy of trees above the Amazon River. Guests enjoy 360-degree rainforest views and a variety of jungle activities, including piranha fishing, forest hikes and swimming with rare pink dolphins.

6. Alcatraz Hotel -- Kaiserslautern, Germany -- Unlike the former inmates, travelers staying at this converted 100-year-old prison can leave whenever they want. Adventurous guests experience the life of a prisoner with cell-style rooms, barred windows and breakfast served through the hatch of the original prison door.

7. Elephant Safari Park Lodge -- Bali, Indonesia -- Situated directly in an elephant sanctuary, this safari-style lodge offers travelers an opportunity to interact, feed, ride, observe, learn, play and stay with 29 beautiful Sumatran elephants. Guests also enjoy elephant chauffeur pick up from rooms and free safari park access.

8. Wigwam Motel -- San Bernardino, California, United States -- An iconic landmark alongside historic Route 66, the Wigwam Motel village-style arrangement of tepees is reminiscent of the classic American roadtrip. Originally built in 1949, the Wigwam Motel is still a popular destination for the adventurous road warrior.

9. Wagon Stays -- Christchurch, New Zealand -- An all-natural wagon crafted from untreated timber creates an atmosphere reminiscent of an early settlers' wagon camp. Guests enjoy unobstructed views across Canterbury farmlands from the cozy interior of their wagons.

10. Bradford Old Windmill -- Bradford-on-Avon, England, United Kingdom -- Described as something from a medieval fairytale, this 19th century windmill is now an eccentric bed and breakfast. The windmill's Victorian spiral staircase, pointed Gothic windows and four-story stone tower give the hotel an old-fashioned romantic feeling.

Online media release: http://Press.HotelsCombined.com/Press-Releases/Top-10-Quirkiest-Hotels-2010.php

About HotelsCombined.com

HotelsCombined.com is the world's leading hotel search engine, with a database of more than 200,000 hotels from 195 countries. The site streamlines the largest amount of real-time international hotel deals into one simple and efficient format, aggregating prices from prominent online travel agents and hotel chains, including Expedia.com, Travelocity.com, Hotels.com, Hilton and Holiday Inn. More than 6.5 million monthly HotelsCombined.com users compare multiple hotels simultaneously and then click directly to partner Web sites to make a reservation. With no mark-up fees or additional booking fees, HotelsCombined.com offers travelers a completely free and invaluable tool for finding unbeatable hotel deals, whether they search directly through www.HotelsCombined.com or through one of 15,000 affiliate partner Web sites.

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Holloway Lodging REIT reports first-quarter loss of $3.7 million, revenue down

Posted: 13 May 2010 02:43 PM PDT

HALIFAX, N.S. - Holloway Lodging Real Estate Investment Trust (TSX:HLR.UN) said Thursday it lost $3.7 million in its latest quarter as revenue fell.

The hotel real estate trust said the loss amounted to nine cents per unit for the quarter ended March 31 compared with a loss of $2.5 million or six cents per unit a year ago.

Revenue totalled $16.6 million, down from $18.5 million, while revenue per available room slipped to $67.67 from $75.77 a year ago.

Holloway owns 21 hotels with 2,320 rooms.

Units in the trust, which reported its results after the close of markets, were down three cents at 55 cents on the Toronto Stock Exchange.

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