FelCor Lodging Trust Incorporated announces it has entered into a binding purchase and sale agreement to acquire the fee-simple interests in two midtown Manhattan hotels, The Royalton and Morgans, for $140.0 million from Morgans Hotel Group Co

FelCor Lodging Trust has executed an agreement modifying current management agreements with InterContinental that will enable the Company to complete its repositioning program and create the “New FelCor.”