FelCor Posts Disappointing 2Q Results

FelCor Lodging Trust, Inc. (NYSE: FCH) posted 2Q results slightly below CitiGroup's estimates, resulting in a disappointing report.

CitiGroup reports that EBITDA of $56.5M was below the estimated $57.9M, and REVPAR at +5.6% was below the estimated 7%, with most peers between 6-8%.

2010 guidance increased to $177-185M from $166-177M, with room for upside, according to Citigroup.

Citigroup has lowered the price target from $9 to $7, and maintains its "hold" rating.

FelCor Lodging Trust, Inc. closed yesterday at $5.95.