$1.1 Billion Hotel Merger Planned

Hotel investor FelCor Lodging Trust Inc. is buying hotel management concern MeriStar Hospitality Corp. for about $1.1 billion in cash and stock in a deal that would create one of the biggest hotel companies.

FelCor is the largest owner of Embassy Suites, Crowne Plaza, Doubletree and Holiday Inn hotels, while Meristar is a big owner of Hilton and Sheraton hotels.

The deal announced Thursday would create a company with 299 properties and combined revenues of $2.9 billion.
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