North America Real Estate - Earnings and Guidance
FelCor revises guidance
November 03, 2009 6:21 PM ET
By A.J. Kornblith
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FelCor Lodging Trust Inc. in its third-quarter earnings release issued Nov. 3 revised its full-year guidance for adjusted FFO per share to a range of 31 cents to 34 cents in light of additional interest expense associated with its recent notes offering. The guidance was also updated to reflect updated revenue expectations. The company said in its second-quarter earnings release issued Aug. 5 that it expected adjusted FFO of between 74 cents and 86 cents per share. The Thomson First Call mean FFO-per-share estimate for the 2009 full year is 70 cents, according to SNL Financial. Additionally, the company said it completed the final phase of the San Francisco Marriott Union Square in June. FelCor said it received term sheets from the special servicer to extend the maturity dates on two loans totaling $14 million secured by the Embassy Suites – Boca Raton in Florida and Doubletree – Wilmington in Delaware that matured in June. The company is in various stages of discussions regarding all of its mortgage loans that mature during 2010. Several of these loans were transferred to the special servicers so that the company may begin negotiations to refinance and/or extend their maturity. | 
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