FelCor Lodging Trust Incorporated (NYSE: FCH) today announced that it has revised its 2012 outlook due to the impact from Hurricane Sandy. The storm caused minimal damage to FelCor’s hotels; however, operations at its east coast hotels were impacted.
The revised outlook is:
- Full year 2012 Same-store RevPAR growth: 5.25% - 5.75%;
- Fourth quarter 2012 adjusted EBITDA: $37 million - $41 million;
- 2012 adjusted EBITDA: $198 million - $202 million;
- Fourth quarter 2012 adjusted FFO per share: ($0.05) - ($0.02); and
- 2012 adjusted FFO per share: $0.19 - $0.23
FelCor, a real estate investment trust, owns 66 primarily upper-upscale, full-service hotels that are located in major and resort markets throughout 22 states. FelCor partners with leading hotel companies to operate its diversified portfolio of hotels, which are flagged under globally recognized names such as, Doubletree®, Embassy Suites®, Fairmont®, Hilton®, Marriott®, Renaissance®, Sheraton®, Westin® and Holiday Inn®, and premier independent hotels in New York. Additional information can be found on the Company's Web site at www.felcor.com.
With the exception of historical information, the matters discussed in this news release include “forward-looking statements” within the meaning of the federal securities laws that are qualified by cautionary statements herein and in FelCor’s filings with the Securities and Exchange Commission. We undertake no obligation to update any forward-looking statement to conform the statement to actual results or changes in our expectations.