posted on December 16, 2010 22:20
FelCor Lodging Trust Inc., a real estate investment firm that owns luxury hotels, has sold the Sheraton Premiere Hotel at Tysons Corner in Vienna, Va., to The JBG Cos. for $84.5 million in cash.
The hotel was owned as part of a joint venture run by Irving-based FelCor and Starwood Hotels & Resorts Worldwide. After the sale, Starwood will continue managing the hotel under a long-term contract.
Irving-based FelCor received $42.25 million in proceeds from the sale.
The real estate investment trust has interests in 83 hotels and resorts across the United States and Canada.
Last month, FelCor 
posted a net loss of $98.5 million during the third quarter. That compares with a net loss of $35 million during the same quarter of 2009.
At the same time, third-quarter sales continued to rise, hitting $243 million, up from $223 million last year.
12/15/10, Dallas Business Journal