FelCor Lodging Trust (FCH) 8-K FELCOR EXCEEDS FIRST QUARTER GUIDANCE •Raises Full Year Guidance

Exhibit 99.2

FelCor Lodging Trust Incorporated

Supplemental Information

Three Months Ended March 31, 2005

Date of Issuance May 2, 2005

All dollar amounts shown in this report are in U.S. dollars unless otherwise noted.
This Supplemental Information is neither an offer to sell nor a solicitation to buy any securities
of FelCor. Any offers to sell or solicitations to buy any securities of FelCor shall be made only
by means of a prospectus.

FelCor Lodging Trust Incorporated
Supplemental Information
Three Months Ended March 31, 2005

TABLE OF CONTENTS

	PAGE
CORPORATE DATA
About the Company		3
Board of Directors and Executive Officers		4
Equity Research Coverage		5
FINANCIAL HIGHLIGHTS
Supplemental Financial Data		6
Consolidated Statements of Operations		7
Discontinued Operations		8
Non-GAAP Financial Measures		8
Reconciliation of Net Loss to FFO and Adjusted FFO		9
Reconciliation of Net Loss to EBITDA, Adjusted EBITDA and Same-Store EBITDA		10
Hotel Operating Profit and Hotel Operating Margin		11
Hotel Operating Expense Composition		11
Debt Summary		15
PORTFOLIO DATA
Portfolio Distribution		17
Detailed Operating Statistics by Brand		18
Detailed Operating Statistics for FelCor’s Top Markets		19
Other Performance Statistics		20
Hotel Portfolio Information		21
Hotel Portfolio Listing		24

This supplement contains registered trademarks owned or licensed by companies other than us, which may include, but are not limited to, Candlewood Suites^®, Courtyard by Marriott^®, Crowne Plaza^®, Disneyland^®, Doubletree^®, Doubletree Guest Suites^®, Embassy Suites Hotels^®, Fairfield Inn^®, Four Points^® by Sheraton, Hampton Inn^®, Harvey Hotel^®, Harvey Suites^®, Hilton^®, Hilton Grand Vacations Company^®, Hilton Suites^®, Holiday Inn^®, Holiday Inn & Suites^®, Holiday Inn Express^®, Holiday Inn Express & Suites^®, Holiday Inn Select^®, Homewood Suites^® by Hilton, InterContinental^®, Priority Club^®, Sheraton^®, Sheraton Suites^®, St. Regis^®, Staybridge Suites^®, The Luxury Collection^®, W^®, Walt Disney World^®, Worlds of Fun^®, Westin^®, and Wyndham^®.

With the exception of historical information, the matters discussed in this supplement include “forward looking statements” within the meaning of the federal securities laws. Forward looking statements are not guarantees of future performance. Numerous risks and uncertainties, and the occurrence of future events, may cause actual results to differ materially from those currently anticipated. General economic conditions, including the timing and magnitude of the current recovery in the economy, the realization of anticipated job growth, the impact of U.S. military involvement in the Middle East and elsewhere, future acts of terrorism, the impact on the travel industry of increased security precautions, the availability of capital, the ability to effect sales of non-strategic hotels at anticipated prices, and numerous other factors may affect our future results, performance and achievements. Certain of these risks and uncertainties are described in greater detail under “Cautionary Factors That May Affect Future Results” in Item 1 above, or in our other filings with the Securities and Exchange Commission. Although we believe our current expectations to be based upon reasonable assumptions, we can give no assurance that our expectations will be attained or that actual results will not differ materially.

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FelCor Lodging Trust Incorporated
Supplemental Information
Three Months Ended March 31, 2005

CORPORATE DATA

About the Company

In 1994, FelCor Lodging Trust Incorporated went public as a real estate investment trust (REIT) with six hotels and a market capitalization of $120 million. At March 31, 2005, FelCor was one of the nation’s largest lodging REITs and the nations’s largest owner of full service, all-suite hotels. FelCor’s portfolio was comprised of 143 consolidated hotels, including 141 hotels in continuing operations and two hotels that were “held for sale” and included in discontinued operations. For the 141 hotels included in continuing operations, the operating revenues and expenses are reflected in FelCor’s consolidated statements of operations because of our ownership interests of the operating lessees of these hotels. FelCor also owned 50% joint venture interests in five hotels whose operations were accounted for using the equity method. FelCor owned 69 full service, all-suite hotels, and was the largest owner of Embassy SuitesHotels and independently owned Doubletree Guest Suiteshotels. FelCor’s portfolio also included 64 hotels in the upscale and full service segments. The Company’s hotels were located in 31 states and Canada. FelCor had a market capitalization of approximately $3.0 billion at March 31, 2005.

Strategy

FelCor’s hotels are generally managed by the brand owners such as Hilton Hotels Corporation, InterContinental Hotels Group, and Starwood Hotels & Resorts. FelCor is competitively positioned to deliver superior long-term stockholder returns through its strong management team, diversified upscale and full-service hotels, and strategic brand manager alliances.

Stock and Debt Ratings

	Senior Unsecured Debt	Preferred Stock
Moody’s	B1	B3
Standard & Poors	B-	CCC

Stock Exchange Listing
Common Stock (NYSE: FCH)
$1.95 Series A Cumulative Convertible Preferred Stock (NYSE: FCHPRA)
9% Series B Cumulative Redeemable Preferred Stock (NYSE: FCHPRB)
8% Series C Cumulative Redeemable Preferred Stock (NYSE:FCHPRC)

Fiscal Year End
December 31

Number of employees
73

Corporate Headquarters
545 E. John Carpenter Frwy., Suite 1300
Irving, TX 75062
(972) 444-4900

Investor Relations Contact
Stephen A. Schafer
Vice President of Investor Relations
(972) 444-4912
sschafer@felcor.com Media Contact
Monica L. Hildebrand
Vice President of Communications
(972) 444-4917
mhildebrand@felcor.com

Information Request
information@felcor.com

3

FelCor Lodging Trust Incorporated
Supplemental Information
Three Months Ended March 31, 2005

Board of Directors

Donald J. McNamara,Chairman of the Board
Principal, The Hampstead Group

Thomas J. Corcoran, Jr.
President and Chief Executive Officer, FelCor Lodging Trust Incorporated

Melinda J. Bush, C.H.A.
Chairman and Chief Executive Officer, HRW Holdings, LLC

Richard S. Ellwood
President, R.S. Ellwood and Co., Inc.

Richard O. Jacobson
Chairman of the Board, Jacobson Warehouse Company, Inc.

David C. Kloeppel
Executive Vice President and Chief Financial Officer, Gaylord Entertainment Company

Charles A. Ledsinger, Jr.
President and Chief Executive Officer, Choice Hotels International

Robert H. Lutz, Jr.
President, RL Investments, Inc.

Robert A. Mathewson
President, RGC, Inc.

Michael D. Rose
Chairman, Gaylord Entertainment Company

Executive Officers

Thomas J. Corcoran, Jr.,President and Chief Executive Officer

Richard A. Smith,Executive Vice President and Chief Financial Officer

Michael A. DeNicola,Executive Vice President and Chief Investment Officer

Lawrence D. Robinson,Executive Vice President, General Counsel and Secretary

Jack Eslick,Senior Vice President, Director of Asset Management

Lester C. Johnson,Senior Vice President, Controller and Principal Accounting Officer

June C. McCutchen,Senior Vice President, Director of Design and Construction

Larry J. Mundy,Senior Vice President,Director of Business Initiatives and Assistant General Counsel

Andrew J. Welch,Senior Vice President and Treasurer

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FelCor Lodging Trust Incorporated
Supplemental Information
Three Months Ended March 31, 2005

Equity Research Coverage

Firm	Analyst	Telephone
Calyon Securities (USA)	Smedes Rose	(212) 408-5649
Deutsche Bank North America	Marc J. Falcone	(212) 469-7417
Friedman, Billings, Ramsey, & Co.	David Loeb	(703) 469-1289
Green Street Advisors	John V. Arabia	(949) 640-8780
JPMorgan Securities	Harry C. Curtis	(212) 622-6610
Legg Mason Wood Walker, Inc.	Rod F. Petrik	(410) 454-4131
Lehman Brothers	Felicia Kantor Hendrix	(212) 526-5562
Merrill Lynch	David W. Anders	(212) 449-2739
Prudential Equity Group, LLC	James W. Sullivan	(212) 778-2515
Smith Barney Citigroup	Michael J. Rietbrock	(212) 816-7777
UBS (US)	William B. Truelove	(212) 713-3098
Wachovia Securities	Jeffrey J. Donnelly	(617) 603-4262

5

FelCor Lodging Trust Incorporated
Supplemental Information
Three Months Ended March 31, 2005

FINANCIAL HIGHLIGHTS

Supplemental Financial Data
(in thousands, except per share information, ratios and percentages)

	March 31,			December 31,
Total Enterprise Value	2005			2004
Common shares outstanding		59,845			59,817
Units outstanding		2,788			2,788
Combined shares and units outstanding		62,633			62,605
Common stock price at end of period	$	12.43		$	14.65
Common equity capitalization	$	778,528		$	917,163
Series A preferred stock		309,362			309,362
Series B preferred stock		169,395			169,395
Consolidated debt		1,762,209			1,767,122
Minority interest of consolidated debt		(5,599	)		(5,618	)
Pro rata share of unconsolidated debt		108,202			109,146
Cash and cash equivalents		(125,506	)		(119,310	)
Total enterprise value (TEV)	$	2,996,591		$	3,147,260
TEV per room(a)	$	81		$	84
Pro rata rooms owned		37,147			37,338
Dividends Per Share
Dividends declared (quarter ended):
Series A preferred stock	$	0.4875		$	0.4875
Series B preferred stock (depository shares)		0.5625			0.5625
Selected Balance Sheet Data
Investment in hotels, at cost(b)	$	3,879,908		$	3,909,021
Total cash and cash equivalents		125,506			119,310
Total assets		3,318,269			3,317,658
Total debt		1,762,209			1,767,122
Total stockholders’ equity		1,313,752			1,330,323
Total stockholders equity less preferred equity		834,995			851,566
Book value per common share outstanding		13.95			14.24

(a)	Based on pro rata ownership.
(b)	Investment in hotels, at cost, is defined as consolidated hotel book value (after impairment charges but before accumulated depreciation).

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FelCor Lodging Trust Incorporated
Supplemental Information
Three Months Ended March 31, 2005

Consolidated Statements of Operations
(in thousands, except per share data)

	Three Months Ended
	March 31,
	2005			2004
Revenues:
Hotel operating revenue:
Room	$	242,490		$	229,271
Food and beverage		42,410			41,063
Other operating departments		14,898			15,168
Retail space rental and other revenue		156			245
Total revenues		299,954			285,747
Expenses:
Hotel departmental expenses:
Room		62,961			61,031
Food and beverage		33,516			33,093
Other operating departments		7,369			7,536
Other property related costs		89,787			84,811
Management and franchise fees		15,116			14,678
Taxes, insurance and lease expense		31,135			30,226
Corporate expenses		4,544			3,386
Depreciation		30,054			28,944
Total operating expenses		274,482			263,705
Operating income		25,472			22,042
Interest expense, net		(33,241	)		(41,124	)
Charge-off of deferred financing costs		—			(230	)
Asset disposition costs		(1,300	)		—
Loss before equity in income from unconsolidated entities, minority interests and gain on sale of assets		(9,069	)		(19,312	)
Equity in income from unconsolidated entities		1,131			982
Minority interests		925			1,156
Loss from continuing operations		(7,013	)		(17,174	)
Discontinued operations		(1,001	)		(3,525	)
Net loss		(8,014	)		(20,699	)
Preferred dividends		(10,091	)		(6,726	)
Net loss applicable to common stockholders		(18,105	)		(27,425	)
Basic and diluted per common share data:
Net loss from continuing operations	$	(0.29	)	$	(0.41	)
Net loss	$	(0.30	)	$	(0.47	)
Weighted average common shares outstanding		59,416			58,937

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FelCor Lodging Trust Incorporated
Supplemental Information
Three Months Ended March 31, 2005

Discontinued Operations
(in thousands)

     Included in discontinued operations are the results of operations of the 18 hotels disposed of in 2004, two hotels designated as held for sale at March 31, 2005, and one hotel sold in the first quarter 2005. Condensed financial information for the hotels included in discontinued operations is as follows:

	Three Months Ended
	March 31,
	2005			2004
Hotel operating revenue	$	3,203		$	29,869
Hotel operating expenses		3,712			28,950
Operating income		(509	)		919
Direct interest costs, net		—			3
Impairment loss		(559	)		—
Lease termination expense from asset disposition		—			(4,900	)
Gain (loss) on sale of assets		20			272
Minority interest in FelCor LP		47			181
Loss from discontinued operations		(1,001	)		(3,525	)
Depreciation		443			1,950
Minority interest		(47	)		(181	)
Interest expense		—			(1	)
EBITDA from discontinued operations		(605	)		(1,757	)
Loss (gain) on sale of assets		(20	)		(272	)
Impairment loss		559			—
Lease termination expense from asset disposition		—			4,900
Adjusted EBITDA from discontinued operations	$	(66	)	$	2,871

Non-GAAP Financial Measures

     We refer in this Supplemental Information to certain “non-GAAP financial measures.” These measures, including FFO, Adjusted FFO, EBITDA, Adjusted EBITDA, Same-Store EBITDA, hotel operating profit and hotel operating margin are measures of our financial performance that are not calculated and presented in accordance with generally accepted accounting principles (“GAAP”). The following tables set forth the adjustments made and reconcile each of these non-GAAP measures to the most comparable GAAP financial measure. Immediately following the reconciliations, we include a discussion of why we believe these measures are useful supplemental measures of our performance and of the limitations upon such measures.

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FelCor Lodging Trust Incorporated
Supplemental Information
Three Months Ended March 31, 2005

Non-GAAP Financial Measures (continued)

Reconciliation of Net Loss to FFO and Adjusted FFO
(in thousands, except per share data)

	Three Months Ended March 31,
	2005								2004
						Per Share								Per Share
	Dollars			Shares		Amount			Dollars			Shares		Amount
Net loss	$	(8,014	)						$	(20,699	)
Preferred dividends		(10,091	)							(6,726	)
Net loss applicable to common stockholders		(18,105	)		59,416	$	(0.30	)		(27,425	)		58,937	$	(0.47	)
Depreciation from continuing operations		30,054			—		0.51			28,944			—		0.49
Depreciation from unconsolidated entities and discontinued operations		2,708			—		0.05			3,724			—		0.06
Loss (gain) on sale of assets		(20	)		—		—			(272	)		—		(0.01	)
Minority interest in FelCor LP		(843	)		2,788		(0.04	)		(1,407	)		3,033		(0.01	)
Conversion of options and unvested restricted stock		—			421		—			—			201		—
FFO		13,794			62,625		0.22			3,564			62,171		0.06
Charge off of deferred debt costs		—			—		—			230			—		—
Asset disposition costs		1,300			—		0.02			4,900			—		0.08
Impairment		559			—		0.01			—			—		—
Adjusted FFO	$	15,653			62,625	$	0.25		$	8,694			62,171	$	0.14

Reconciliation of Net Loss to EBITDA, Adjusted EBITDA and Same-Store EBITDA
(in thousands)

	Three Months Ended
	March 31,
	2005			2004
Net loss	$	(8,014	)	$	(20,699	)
Depreciation from continuing operations		30,054			28,944
Depreciation from unconsolidated entities and discontinued operations		2,708			3,724
Minority interest in FelCor Lodging LP		(843	)		(1,407	)
Interest expense		33,883			41,845
Interest expense from unconsolidated entities and discontinued operations		1,778			1,319
Amortization expense		597			503
EBITDA		60,163			54,229
Charge off of deferred debt costs		—			230
Asset disposition costs		1,300			4,900
Gain on sale of assets		(20	)		(272	)
Impairment		559			—
Adjusted EBITDA		62,002			59,087
Adjusted EBITDA from discontinued operations		66			(2,871	)
Same-Store EBITDA	$	62,068		$	56,216

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FelCor Lodging Trust Incorporated
Supplemental Information
Three Months Ended March 31, 2005

Non-GAAP Financial Measures (continued)

Hotel Operating Profit and Hotel Operating Margin
(dollars in thousands)

	Three Months Ended
	March 31,
	2005			2004
Total revenue	$	299,954		$	285,747
Retail space rental and other revenue		(156	)		(245	)
Hotel revenue		299,798			285,502
Hotel operating expenses		(239,884	)		(231,375	)
Hotel operating profit	$	59,914		$	54,127
Hotel operating margin		20.0	%		19.0	%

Hotel Operating Expense Composition
(dollars in thousands)

	Three Months Ended
	March 31,
	2005			2004
Hotel departmental expenses:
Room	$	62,961		$	61,031
Food and beverage		33,516			33,093
Other operating departments		7,369			7,536
Other property related costs:
Administrative and general		29,149			27,730
Marketing and advertising		26,679			25,344
Repairs and maintenance		17,397			16,764
Energy		16,562			14,973
Taxes, insurance and lease expense		31,135			30,226
Total other property related costs		120,922			115,037
Management and franchise fees		15,116			14,678
Hotel operating expenses	$	239,884		$	231,375
Reconciliation of total operating expense to hotel operating expense:
Total operating expenses	$	274,482		$	263,705
Corporate expenses		(4,544	)		(3,386	)
Depreciation		(30,054	)		(28,944	)
Hotel operating expenses	$	239,884		$	231,375
Supplemental information:
Compensation and benefits expense (included in hotel operating expenses)	$	97,903		$	94,458

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FelCor Lodging Trust Incorporated
Supplemental Information
Three Months Ended March 31, 2005

Non-GAAP Financial Measures (continued)

     Substantially all of our non-current assets consist of real estate. Historical cost accounting for real estate assets implicitly assumes that the value of real estate assets diminishes predictably over time. Since real estate values instead have historically risen or fallen with market conditions, most industry investors consider supplemental measures of performance, which are not measures of operating performance under GAAP, to be helpful in evaluating a real estate company’s operations. These supplemental measures, including FFO, Adjusted FFO, EBITDA, Adjusted EBITDA, Same-Store EBITDA, hotel operating profit and hotel operating margin, are not measures of operating performance under GAAP. However, we consider these non-GAAP measures to be supplemental measures of a REIT’s performance and should be considered along with, but not as an alternative to, net income as a measure of our operating performance.

FFO and EBITDA

     The White Paper on Funds From Operations approved by the Board of Governors of the National Association of Real Estate Investment Trusts (“NAREIT”), defines FFO as net income or loss (computed in accordance with GAAP), excluding gains or losses from sales of property, plus depreciation and amortization, and after adjustments for unconsolidated partnerships and joint ventures. Adjustments for unconsolidated partnerships and joint ventures are calculated to reflect FFO on the same basis. We compute FFO in accordance with standards established by NAREIT. This may not be comparable to FFO reported by other REITs that do not define the term in accordance with the current NAREIT definition, or that interpret the current NAREIT definition differently than we do.

     EBITDA is a commonly used measure of performance in many industries. We define EBITDA as net income or loss (computed in accordance with GAAP) plus interest expenses, income taxes, depreciation and amortization, and after adjustments for unconsolidated partnerships and joint ventures. Adjustments for unconsolidated partnerships and joint ventures are calculated to reflect EBITDA on the same basis.

Adjustments to FFO and EBITDA

     We adjust FFO and EBITDA when evaluating our performance because management believes that the exclusion of certain additional recurring and non-recurring items described below provides useful supplemental information to investors regarding our ongoing operating performance and that the presentation of Adjusted FFO, Adjusted EBITDA and Same-Store EBITDA, when combined with GAAP net income, EBITDA and FFO, is beneficial to an investor’s better understanding of our operating performance.

•   Gains and losses related to early extinguishment of debt and interest rate swaps –We exclude gains and losses related to early extinguishment of debt and interest rate swaps from FFO and EBITDA because we believe that it is not indicative of ongoing operating performance of our hotel assets. This also represents an acceleration of interest expense or a reduction of interest expense, and interest expense is excluded from EBITDA.

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FelCor Lodging Trust Incorporated
Supplemental Information
Three Months Ended March 31, 2005

Non-GAAP Financial Measures (continued)

•   Impairment losses –We exclude the effect of impairment losses and gains or losses on disposition of assets in computing Adjusted FFO and Adjusted EBITDA because we believe that including these is not consistent with reflecting the ongoing performance of our remaining assets. Additionally, we believe that impairment charges and gains or losses on disposition of assets represent accelerated depreciation or excess depreciation, and depreciation is excluded from FFO by the NAREIT definition and from EBITDA.

•   Cumulative effect of a change in accounting principle– Infrequently, the Financial Accounting Standards Board promulgates new accounting standards that require the consolidated statements of operations to reflect the cumulative effect of a change in accounting principle. We exclude these one-time adjustments in computing Adjusted FFO and Adjusted EBITDA because they do not reflect our actual performance for that period.

     In addition, to derive Adjusted EBITDA, we adjust EBITDA for Gains or losses on the sale of assets because we believe that including them in EBITDA is not consistent with reflecting ongoing performance of our remaining assets. Additionally, the gain or loss on sale of depreciable assets represents either accelerated depreciation or excess depreciation in previous periods, and depreciation is excluded from EBITDA.

     To derive Same-Store EBITDA, we make the same adjustments to EBITDA as for Adjusted EBITDA and, additionally, exclude EBITDA from discontinued operations and gains and losses on the disposition of non-hotel related assets.

Hotel Operating Profit and Operating Margin

     Hotel operating profit and operating margin are commonly used measures of performance in the industry and give investors a more complete understanding of the operating results over which our individual hotels and operating managers have direct control. We believe that hotel operating profit and operating margin is useful to investors by providing greater transparency with respect to two significant measures used by us in our financial and operational decision-making. Additionally, using these measures facilitate comparisons with other hotel REITs and hotel owners. We present hotel operating profit and hotel operating margin by eliminating corporate-level expenses, depreciation and expenses related to our capital structure. We eliminate-corporate-level costs and expenses because we believe property-level results provide investors with supplemental information into the ongoing operation performance of our hotels and the effectiveness of management in running our business on a property-level basis. We eliminate depreciation and amortization because, even though depreciation and amortization are property-level expenses, these non-cash expenses, which are based on historical cost accounting for real estate assets, implicitly assumes that the value of real estate assets diminishes predictably over time.

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FelCor Lodging Trust Incorporated
Supplemental Information
Three Months Ended March 31, 2005

Non-GAAP Financial Measures (continued)

Use and Limitations of Non-GAAP Measures.

     Our management and Board of Directors use FFO, Adjusted FFO, EBITDA and Adjusted EBITDA to evaluate the performance of our hotels and to facilitate comparisons between us and other lodging REITs, hotel owners who are not REITs and other capital intensive companies. Same-Store EBITDA is used to provide investors with supplemental information as to the ongoing operating performance of our hotels without regard to those hotels sold or held for sale at the date of presentation.

     The use of these non-GAAP financial measures have certain limitations. FFO, Adjusted FFO, EBITDA, Adjusted EBITDA, Same-Store EBITDA, hotel operating profit and hotel operating margin, as presented by us, may not be comparable to FFO, Adjusted FFO, EBITDA, Adjusted EBITDA, Same-Store EBITDA, hotel operating profit and hotel operating margin as calculated by other real estate companies. These measures do not reflect certain expenses that we incurred and will incur, such as depreciation, interest and capital expenditures. Management compensates for these limitations by separately considering the impact of these excluded items to the extent they are material to operating decisions or assessments of our operating performance. Our reconciliations to the GAAP financial measures, and our consolidated statements of operations and cash flows, include interest expense, capital expenditures, and other excluded items, all of which should be considered when evaluating our performance, as well as the usefulness of our non-GAAP financial measures.

     These non-GAAP financial measures are used in addition to and in conjunction with results presented in accordance with GAAP. They should not be considered as alternatives to operating profit, cash flow from operations, or any other operating performance measure prescribed by GAAP. Neither should FFO, FFO per share, Adjusted FFO, Adjusted FFO per share, EBITDA, Adjusted EBITDA or Same-Store EBITDA be considered as measures of our liquidity or indicative of funds available for our cash needs, including our ability to make cash distributions. FFO per share does not measure, and should not be used as a measure of, amounts that accrue directly to the benefit of stockholders. FFO, Adjusted FFO, EBITDA, Adjusted EBITDA, Same-Store EBITDA, hotel operating profit and hotel operating margin reflect additional ways of viewing our operations that we believe when viewed with our GAAP results and the reconciliations to the corresponding GAAP financial measures provide a more complete understanding of factors and trends affecting our business than could be obtained absent this disclosure. Management strongly encourages investors to review our financial information in its entirety and not to rely on a single financial measure.

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FelCor Lodging Trust Incorporated
Supplemental Information
Three Months Ended March 31, 2005

Debt Summary
(dollars in thousands)

Debt Outstanding

	Encumbered	Interest Rate At			Maturity	Consolidated
	Hotels	March 31, 2005			Date	Debt
Promissory note	none		4.72	%	June 2016	$	650
Senior unsecured term notes	none		7.63		Oct. 2007		122,659
Senior unsecured term notes	none		9.00		June 2011		298,472
Senior unsecured term notes(a)	none		7.19		June 2011		290,000
Total unsecured debt			8.02				711,781
Mortgage debt	15 hotels		5.72		July 2009-2014		191,587
Mortgage debt	1 hotel		7.23		Sept. 2005		10,380
Mortgage debt(b)	10 hotels		5.13		May 2006		143,792
Mortgage debt	15 hotels		7.24		Nov. 2007		126,528
Mortgage debt	1 hotel		5.81		August 2008		15,500
Mortgage debt	7 hotels		7.32		April 2009		129,713
Mortgage debt	6 hotels		7.55		June 2009		67,700
Mortgage debt	8 hotels		8.70		May 2010		174,742
Mortgage debt	7 hotels		8.73		May 2010		135,283
Mortgage debt	8 hotels		7.48		April 2011		49,244
Other	1 hotel		9.17		August 2011		5,959
Total secured debt	79 hotels		7.14				1,050,428
Total			7.50	%		$	1,762,209

(a)	The stated interest rate on this debt is LIBOR (2.6% at March 31, 2005) plus 4.25%. We have swapped $100 million of this floating rate debt for a fixed rate of 7.80%. The resulting weighted average rate on these notes was 7.19% at March 31, 2005.
(b)	This debt has two, one-year extension options, subject to certain contingencies.

Fixed interest rate debt to total debt		74.9	%
Weighted average maturity of debt	5 years
Secured debt to total assets		31.7	%

     At March 31, 2005, future scheduled principal payments on outstanding debt are as follows (in thousands):

	Secured			Unsecured
Year	Debt			Debt			Total
2005	$	27,019		$	—		$	27,019
2006		161,043	(a)		—			161,043
2007		138,798			125,000			263,798
2008		34,595			—			34,595
2009 and thereafter		689,344			590,650			1,279,994
Premium/(discount)		(371	)		(3,869	)		(4,240	)
Total debt	$	1,050,428		$	711,781		$	1,762,209

(a)   Included is a $145 million non-recourse mortgage loan maturing in 2006, that has two, one-year extension options, subject to certain contingencies.

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FelCor Lodging Trust Incorporated
Supplemental Information
Three Months Ended March 31, 2005

Debt Summary (continued)

     At March 31, 2005, we had unconsolidated 50 percent investments in ventures that owned an aggregate of 20 hotels. These ventures had approximately $216 million of non-recourse mortgage debt, all of which is secured by hotel assets. Our pro rata share of this non-recourse debt is $108 million.

Financing transactions in 2005:

     On April 8, 2005, we completed the issuance of 5.4 million depositary shares, each representing 1/100 of a share of our 8% Series C Cumulative Redeemable Preferred Stock, with gross proceeds of $135 million. The gross proceeds were used to redeem a like number of our 9% Series B Cumulative Redeemable Preferred Stock. The redemption of the Series B shares will result in a second quarter 2005 charge to income available to common shareholders of $5.2 million related to original issuance cost of the Series B shares redeemed.

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FelCor Lodging Trust Incorporated
Supplemental Information
Three Months Ended March 31, 2005

PORTFOLIO DATA
Portfolio Distribution at March 31, 2005
(133 consolidated hotels included in continuing operations^(a), same store basis)

								% of 2004 Hotel
					% of			Operating
Brand	Hotels		Rooms		Total Rooms			Profit(b)
Embassy Suites		55		13,982		37	%		51	%
Holiday Inn-branded		39		12,769		33			23
Sheraton-branded		10		3,269		9			10
Doubletree-branded		10		2,206		6			6
Crowne Plaza		12		4,025		10			5
Other		7		1,811		5			5

					% of			% of 2004 Hotel
Top Markets	Hotels		Rooms		Total Rooms			Operating Profit
Atlanta		10		3,061		8	%		9	%
Dallas		12		3,586		9			5
Los Angeles Area		6		1,492		4			5
Orlando		6		2,219		6			5
Boca Raton/Ft. Lauderdale		4		1,118		3			4
New Orleans		2		746		2			4
Minneapolis		4		955		3			4
Philadelphia		3		1,174		3			3
San Diego		1		600		2			3
Phoenix		3		798		2			3
San Antonio		4		1,189		3			3
Chicago		4		1,239		3			3
San Francisco Bay Area		8		2,690		7			3
Houston		4		1,403		4			3
Washington DC		1		437		1			3

					% of			% of 2004 Hotel
Top Four States	Hotels		Rooms		Total Rooms			Operating Profit
California		19		5,593		15	%		16	%
Texas		26		7,515		20			14
Florida		16		5,343		14			12
Georgia		12		3,415		9			9

					% of			% of 2004 Hotel
Location	Hotels		Rooms		Total Rooms			Operating Profit
Suburban		59		15,022		39	%		39	%
Urban		31		10,069		26			27
Airport		28		8,509		23			22
Resort		13		4,044		11			12
Interstate		2		418		1			0

					% of			% of 2004 Hotel
Segment	Hotels		Rooms		Total Rooms			Operating Profit
Upscale all-suite		68		16,848		44	%		59	%
Full service		39		12,823		34			23
Upscale		23		7,843		21			17
Limited service		3		548		1			1

^(a) We have excluded eight hotels, which we anticipate surrendering to the non-recourse debt holder during the second quarter of 2005.

^(b) Hotel operating profit is more fully described on page 10 of this supplement.

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FelCor Lodging Trust Incorporated
Supplemental Information
Three Months Ended March 31, 2005

Detailed Operating Statistics by Brand
(133 consolidated hotels included in continuing operations, same store basis)

	Occupancy (%)
	Three Months Ended March 31,
	2005		2004		% Variance
Embassy Suites Hotels		70.7		69.5		1.7
Holiday Inn-branded hotels		62.8		61.8		1.7
Sheraton-branded hotels		61.7		64.1		(3.7	)
Doubletree-branded hotels		65.1		68.6		(5.2	)
Crowne Plaza hotels		63.4		61.6		2.8
Other hotels		56.8		54.3		4.6
Total hotels		65.5		64.8		1.0

	ADR ($)
	Three Months Ended March 31,
	2005		2004		% Variance
Embassy Suites Hotels		126.15		119.27		5.8
Holiday Inn-branded hotels		83.19		80.35		3.5
Sheraton-branded hotels		107.78		97.57		10.5
Doubletree-branded hotels		113.77		103.79		9.6
Crowne Plaza hotels		92.35		88.94		3.8
Other hotels		91.39		86.55		5.6
Total hotels		105.24		99.68		5.6

	RevPAR ($)
	Three Months Ended March 31,
	2005		2004		% Variance
Embassy Suites Hotels		89.14		82.87		7.6
Holiday Inn-branded hotels		52.28		49.63		5.3
Sheraton-branded hotels		66.50		62.54		6.3
Doubletree-branded hotels		74.02		71.23		3.9
Crowne Plaza hotels		58.53		54.83		6.7
Other hotels		51.89		47.00		10.4
Total hotels		68.94		64.63		6.7

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FelCor Lodging Trust Incorporated
Supplemental Information
Three Months Ended March 31, 2005

Detailed Operating Statistics for FelCor’s Top Markets
(133 consolidated hotels included in continuing operations, same store basis)

	Occupancy (%)
	Three Months Ended March 31,
	2005		2004		% Variance
Atlanta		70.7		67.6		4.6
Dallas		53.3		52.4		1.7
Los Angeles Area		68.6		70.2		(2.3	)
Orlando		80.0		75.9		5.3
Boca Raton/Ft. Lauderdale		90.2		87.0		3.7
New Orleans		73.9		66.1		11.8
Minneapolis		65.5		62.6		4.5
Philadelphia		60.7		56.2		8.1
San Diego		81.5		86.4		(5.7	)
Phoenix		81.4		81.2		0.3
San Antonio		69.5		69.3		0.2
Chicago		61.4		62.2		(1.2	)
San Francisco Bay Area		62.3		61.7		0.8
Houston		69.3		73.7		(6.0	)
Washington DC		67.1		70.3		(4.6	)

	ADR ($)
	Three Months Ended March 31,
	2005		2004		% Variance
Atlanta		91.15		89.02		2.4
Dallas		95.55		90.87		5.1
Los Angeles Area		114.47		107.40		6.6
Orlando		94.97		83.80		13.3
Boca Raton/Ft. Lauderdale		159.94		139.05		15.0
New Orleans		147.33		147.76		(0.3	)
Minneapolis		122.77		120.42		2.0
Philadelphia		102.54		96.14		6.7
San Diego		122.73		114.93		6.8
Phoenix		146.46		137.44		6.6
San Antonio		86.00		84.96		1.2
Chicago		96.51		94.27		2.4
San Francisco Bay Area		110.69		108.04		2.4
Houston		70.01		74.16		(5.6	)
Washington DC		147.94		125.96		17.4

	RevPAR ($)
	Three Months Ended March 31,
	2005		2004		% Variance
Atlanta		64.47		60.17	7.1
Dallas		50.89		47.60	6.9
Los Angeles Area		78.48		75.36	4.1
Orlando		75.95		63.64	19.4
Boca Raton/Ft. Lauderdale		144.21		120.90	19.3
New Orleans		108.95		97.74	11.5
Minneapolis		80.36		75.43	6.5
Philadelphia		62.24		54.00	15.3
San Diego		100.03		99.28	0.8
Phoenix		119.25		111.61	6.8
San Antonio		59.73		58.88	1.5
Chicago		59.30		58.63	1.1
San Francisco Bay Area		68.91		66.71	3.3
Houston		48.50		54.63	(11.2	)
Washington DC		99.32		88.61	12.1

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FelCor Lodging Trust Incorporated
Supplemental Information
Three Months Ended March 31, 2005

Other Performance Statistics
(Consolidated hotels included in continuing operations, for period presented)

Variance to Prior Year

	Occupancy			ADR			RevPAR
	% Variance			% Variance			% Variance
2002:
First Quarter		(11.2	)		(7.8	)		(18.2	)
Second Quarter		(5.1	)		(6.3	)		(11.1	)
Third Quarter		2.4			(4.8	)		(2.4	)
Fourth Quarter		4.4			(1.3	)		3.1
Year 2002		(2.8	)		(5.5	)		(8.1	)
2003:
First Quarter		(1.2	)		(4.1	)		(5.3	)
Second Quarter		(3.0	)		(4.8	)		(7.6	)
Third Quarter		0.3			(2.7	)		(2.4	)
Fourth Quarter		0.6			(2.3	)		(1.7	)
Year 2003		(0.6	)		(3.8	)		(4.4	)
2004:
First Quarter 2004		5.2			(0.7	)		4.4
Second Quarter 2004		5.5			1.7			7.3
Third Quarter 2004		1.9			2.7			4.6
Fourth Quarter 2004		0.9			2.9			3.9
Year 2004		3.1			1.7			4.9
2005
January		1.9			5.1			7.1
February		0.8			6.2			7.0
March		0.4			5.2			5.7
First Quarter 2005		1.0			5.6			6.7
Estimated April 2005								11.0

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FelCor Lodging Trust Incorporated
Supplemental Information
Three Months Ended March 31, 2005

Hotel Portfolio Information

Pro Rata Share of Rooms Owned

			Room Count at
	Hotels		March 31, 2005
Consolidated hotels in continuing operations(a)		141		39,502
Hotels held for sale		2		478
Unconsolidated hotel operations		5		761
Total hotels owned		148		40,741
50% and 51% joint ventures		28		(3,046	)
60% joint ventures		2		(390	)
90% joint ventures		6		(148	)
97% joint venture		1		(10	)
Total joint venture owned rooms				(3,594	)
Pro rata share of rooms owned				37,147

Capital Expenditures (dollars in thousands)

	Three Months Ended			Year Ended
	March 31, 2005			December 31, 2004
Consolidated hotels:
Improvements and additions to hotels	$	26,723		$	95,833
% of total revenue		8.8	%		7.6	%
Unconsolidated hotels (pro rata share):
Improvements and additions to hotels	$	1,484		$	6,359
% of total revenue		4.0	%		4.3	%

^(a)   Eight of these 141 hotels have been excluded from the operating statistics on pages 16 – 18 of this supplemental information. These eight hotels are expected to be surrendered to the non-recourse mortgage lender in the second quarter of 2005. Under generally accepted accounting principles, hotels to be disposed of other than by sale continue to be included in continuing operations until the actual disposition date. The eight hotels, which are owned by our consolidated partnership with Interstate Hotels & Resorts, are as follows: Fairfield Inn Phoenix, Courtyard by Marriott Atlanta, Fairfield Inn Atlanta, Fairfield Inn Dallas, Fairfield Inn Houston I-10E, Hampton Inn Houston I-10E, Courtyard by Marriott Houston Galleria and Fairfield Inn Houston Galleria.

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FelCor Lodging Trust Incorporated
Supplemental Information
Three Months Ended March 31, 2005

Hotel Portfolio Information

Sale Hotels

     At March 31, 2005, we included in continuing operations 16 hotels that we are actively marketing for sale. The composition, by brand, of the 16 sale hotels is as follows: Holiday Inn-branded (11), Doubletree branded (2) Embassy Suites (2), and Hampton Inn (1).

     Operating statistics for our consolidated portfolio of 133 hotels included in continuing operations:

	Three Months Ended March 31,
	2005		2004		% Variance
Consolidated in Continuing Operations (133 hotels)
Occupancy (%)		65.5		64.8		1.0
ADR ($)		105.24		99.68		5.6
RevPAR ($)		68.94		64.63		6.7
Sale Hotels (16 hotels)
Occupancy (%)		58.3		54.7		6.5
ADR ($)		71.11		69.29		2.6
RevPAR ($)		41.44		37.90		9.3
Core Hotels (117 hotels)
Occupancy (%)		66.4		66.1		0.5
ADR ($)		109.00		102.84		6.0
RevPAR ($)		72.40		67.98		6.5

For the quarter ended March 31, 2005, the hotel operating margins for the Core Hotels were 21%, while the operating margins for the Sale Hotels were 10%.

Portfolio Changes in 2005

Dispositions:

•   In January 2004 we disposed of the 191-room Holiday Inn in Salt Lake City for gross proceeds of $1.2 million.

•   In April 2005 we disposed of the 181-room Olive Branch Whispering Woods Hotel and Conference Center for gross proceeds of $9.0 million.

Portfolio Changes in 2004

Acquisitions:

•   In March 2004, we purchased the 132-room Santa Monica Holiday Inn for $27 million. This hotel has a premier location across from the Santa Monica Pier and the Santa Monica beaches and will continue to be operated as a full service upscale hotel. This hotel is classified as an upscale hotel by STR because of the high room rates charged in this market.

Dispositions:

•   In 2004 we sold 17 non-strategic hotels for gross proceeds of approximately $157 million.

•   On June 30, 2004, we transferred our leasehold interest in the San Francisco Holiday Inn Select Downtown & Spa to the lessor.

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FelCor Lodging Trust Incorporated
Supplemental Information
Three Months Ended March 31, 2005

Hotel Portfolio Listing
(as of March 31, 2005)

	State	Rooms		% Owned(a)			Brand
Consolidated Continuing Operations
Birmingham(b)	AL		242				Embassy Suites
Montgomery – East I-85(b)	AL		210				Holiday Inn
Phoenix – Biltmore(b)	AZ		232				Embassy Suites
Phoenix Crescent Hotel(b)	AZ		342				Sheraton
Phoenix Scottsdale/Downtown(b)(c)	AZ		218		51	%	Fairfield Inn
Phoenix Tempe(b)	AZ		224				Embassy Suites
Dana Point – Doheny Beach	CA		195				Doubletree Guest Suites
Irvine – Orange County Airport (Newport Beach)	CA		335				Crowne Plaza
Los Angeles – Anaheim (Located near Disneyland Park)(b)	CA		222				Embassy Suites
Los Angeles – Covina/I-10(b)	CA		259		50	%	Embassy Suites
Los Angeles – El Segundo – International Airport – South	CA		349		97	%	Embassy Suites
Milpitas – Silicon Valley(b)	CA		266				Embassy Suites
Milpitas – San Jose-North (Milpitas – Silicon Valley)	CA		305				Crowne Plaza
Napa Valley(b)	CA		205				Embassy Suites
Oxnard – Mandalay Beach Resort & Conference Center(b)	CA		248				Embassy Suites
Palm Desert – Palm Desert Resort(b)	CA		198				Embassy Suites
Pleasanton (San Ramon Area)	CA		244				Crowne Plaza
San Diego – On the Bay	CA		600				Holiday Inn
San Francisco – Burlingame Airport	CA		340				Embassy Suites
San Francisco – South San Francisco Airport(b)	CA		312				Embassy Suites
San Francisco – Fisherman’s Wharf	CA		585				Holiday Inn
San Francisco – Union Square	CA		403				Crowne Plaza
San Rafael – Marin County/Conference Center(b)	CA		235		50	%	Embassy Suites
Santa Barbara – Goleta(b)	CA		160				Holiday Inn
Santa Monica – Beach at the Pier	CA		132				Holiday Inn
Denver – Aurora(b)	CO		248		90	%	Doubletree
Stamford	CT		380				Holiday Inn Select
Wilmington(b)	DE		244		90	%	Doubletree
Boca Raton(b)	FL		263				Embassy Suites
Cocoa Beach – Oceanfront	FL		500				Holiday Inn
Deerfield Beach – Boca Raton/Deerfield Beach Resort(b)	FL		244				Embassy Suites
Ft. Lauderdale – 17th Street(b)	FL		358				Embassy Suites
Ft. Lauderdale – Cypress Creek(b)	FL		253				Sheraton Suites
Jacksonville – Baymeadows(b)	FL		277				Embassy Suites
Miami – International Airport(b)	FL		316				Embassy Suites
Miami – International Airport (LeJeune Center)	FL		304				Crowne Plaza
Orlando – International Airport(b)	FL		288				Holiday Inn Select
Orlando – International Drive – Resort(b)	FL		651				Holiday Inn
Orlando – International Drive South/Convention Center(b)	FL		244				Embassy Suites
Orlando– Nikki Bird (Maingate – Walt Disney World Area)	FL		530				Holiday Inn

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FelCor Lodging Trust Incorporated
Supplemental Information
Three Months Ended March 31, 2005

Hotel Portfolio Listing
(as of March 31, 2005)

	State	Rooms		% Owned(a)			Brand
Orlando– (North)	FL		277				Embassy Suites
Orlando – Walt Disney World Resort(b)	FL		229				Doubletree Guest Suites
Tampa – Busch Gardens	FL		406				Holiday Inn
Tampa– On Tampa Bay(b)	FL		203				Doubletree Guest Suites
Atlanta – Airport(b)	GA		378				Crowne Plaza
Atlanta – Airport(b)	GA		233				Embassy Suites
Atlanta – Airport-North(b)	GA		493				Holiday Inn
Atlanta – Buckhead(b)	GA		317				Embassy Suites
Atlanta – Downtown(b)(c)	GA		211		51	%	Courtyard by Marriott
Atlanta – Downtown(b)(c)	GA		242		51	%	Fairfield Inn
Atlanta – Galleria(b)	GA		278				Sheraton Suites
Atlanta – Gateway – Atlanta Airport	GA		395				Sheraton
Atlanta – Perimeter – Dunwoody(b)	GA		250				Holiday Inn Select
Atlanta – Perimeter Center(b)	GA		241		50	%	Embassy Suites
Atlanta – Powers Ferry(b)	GA		296				Crowne Plaza
Atlanta – South (I-75 & US 41) (b)	GA		180				Holiday Inn
Brunswick(b)	GA		130				Embassy Suites
Columbus – North (I-185 at Peachtree Mall)	GA		224				Holiday Inn
Davenport	IA		288				Holiday Inn
Chicago – The Allerton	IL		443				Crowne Plaza
Chicago – Lombard/Oak Brook(b)	IL		262		50	%	Embassy Suites
Chicago – Northshore/Deerfield (Northbrook) (b)	IL		237				Embassy Suites
Chicago O’Hare Airport(b)	IL		297				Sheraton Suites
Moline – Airport	IL		216				Holiday Inn
Moline – Airport Area	IL		110				Holiday Inn Express
Indianapolis – North(b)	IN		221		50	%	Embassy Suites
Kansas City – Overland Park(b)	KS		199		50	%	Embassy Suites
Lexington(b)	KY		155				Sheraton Suites
Lexington – Lexington Green(b)	KY		174				Hilton Suites
Baton Rouge(b)	LA		223				Embassy Suites
New Orleans(b)	LA		372				Embassy Suites
New Orleans – French Quarter(b)	LA		374				Holiday Inn
Boston – Government Center	MA		303				Holiday Inn Select
Boston – Marlborough(b)	MA		229				Embassy Suites
Baltimore – BWI Airport(b)	MD		251		90	%	Embassy Suites
Troy – North (Auburn Hills) (b)	MI		251		90	%	Embassy Suites
Bloomington(b)	MN		219				Embassy Suites
Minneapolis – Airport(b)	MN		310				Embassy Suites
Minneapolis – Downtown	MN		216				Embassy Suites
St. Paul – Downtown(b)	MN		210				Embassy Suites
Kansas City – NE I-435 North (At Worlds of Fun)(b)	MO		165				Holiday Inn
Kansas City – Plaza(b)	MO		266		50	%	Embassy Suites
Jackson – North	MS		222				Holiday Inn & Suites
Charlotte(b)	NC		274		50	%	Embassy Suites
Charlotte SouthPark	NC		208				Doubletree Guest Suites
Raleigh(b)	NC		203				Doubletree Guest Suites
Raleigh – Crabtree(b)	NC		225		50	%	Embassy Suites

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FelCor Lodging Trust Incorporated
Supplemental Information
Three Months Ended March 31, 2005

Hotel Portfolio Listing
(as of March 31, 2005)

	State	Rooms		% Owned(a)			Brand
Omaha – Central	NE		187				Doubletree Guest Suites
Omaha – Central	NE		129				Hampton Inn
Omaha – Central (I-80)	NE		383				Holiday Inn
Omaha – Old Mill(b)	NE		223				Crowne Plaza
Parsippany(b)	NJ		274		50	%	Embassy Suites
Piscataway – Somerset(b)	NJ		224				Embassy Suites
Secaucus – Meadowlands(b)	NJ		261		50	%	Embassy Suites
Cleveland – Downtown	OH		268				Embassy Suites
Tulsa – I-44(b)	OK		244				Embassy Suites
Philadelphia – Center City	PA		445				Crowne Plaza
Philadelphia – Historic District(b)	PA		364				Holiday Inn
Philadelphia – Society Hill(b)	PA		365				Sheraton
Pittsburgh – At University Center (Oakland)(b)	PA		251				Holiday Inn Select
Charleston – Mills House (Historic Downtown)(b)	SC		214				Holiday Inn
Myrtle Beach – At Kingston Plantation	SC		255				Embassy Suites
Myrtle Beach Resort	SC		385				Hilton
Knoxville – Central At Papermill Road(b)	TN		240				Holiday Inn
Nashville – Airport/Opryland Area	TN		296				Embassy Suites
Nashville – Opryland/Airport (Briley Parkway)	TN		382				Holiday Inn Select
Amarillo – I-40	TX		248				Holiday Inn
Austin(b)	TX		189		90	%	Doubletree Guest Suites
Austin – North(b)	TX		260		50	%	Embassy Suites
Austin – Town Lake (Downtown Area)(b)	TX		320				Holiday Inn
Corpus Christi(b)	TX		150				Embassy Suites
Dallas	TX		295				Crowne Plaza Suites
Dallas – At Campbell Centre	TX		300		90	%	Doubletree
Dallas – Dallas Park Central	TX		114				Staybridge Suites
Dallas – DFW International Airport-North(b)	TX		164				Harvey Suites
Dallas – DFW International Airport-South(b)	TX		305				Embassy Suites
Dallas – Love Field(b)	TX		248				Embassy Suites
Dallas – Market Center(b)	TX		354				Crowne Plaza
Dallas – Market Center(b)	TX		244				Embassy Suites
Dallas – Park Central	TX		438		60	%	Sheraton
Dallas – Park Central	TX		536		60	%	Westin
Dallas – Park Central Area(b)	TX		279				Embassy Suites
Dallas – Regal Row(b)(c)	TX		203		51	%	Fairfield Inn
Dallas – West End/Convention Center	TX		309				Hampton Inn
Houston – Greenway Plaza Area(b)	TX		355				Holiday Inn Select
Houston – I-10 East(b)(c)	TX		160		51	%	Fairfield Inn
Houston – I-10 East(b)(c)	TX		90		51	%	Hampton Inn
Houston – I-10 West & Hwy. 6 (Park 10 Area)	TX		349				Holiday Inn Select
Houston – Intercontinental Airport(b)	TX		415				Holiday Inn
Houston – Medical Center(b)	TX		284				Holiday Inn & Suites
Houston – Near the Galleria(b)(c)	TX		209		51	%	Courtyard by Marriott
Houston – Near the Galleria(b)(c)	TX		107		51	%	Fairfield Inn
San Antonio – Downtown (Market Square)	TX		315				Holiday Inn
San Antonio – International Airport(b)	TX		261		50	%	Embassy Suites

24

FelCor Lodging Trust Incorporated
Supplemental Information
Three Months Ended March 31, 2005

Hotel Portfolio Listing
(as of March 31, 2005)

	State	Rooms		% Owned(a)			Brand
San Antonio – International Airport(b)	TX		397				Holiday Inn Select
San Antonio – N.W. I-10(b)	TX		216		50	%	Embassy Suites
Waco – I-35	TX		170				Holiday Inn
Burlington Hotel & Conference Center(b)	VT		309				Sheraton
Vienna – At Tysons Corner(b)	VA		437		50	%	Sheraton
Canada
Toronto – Airport	Ontario		445				Holiday Inn Select
Toronto – Yorkdale	Ontario		370				Holiday Inn
Hotel Included in Discontinued Operations
St. Louis – Downtown	MO		297				Embassy Suites
Olive Branch Whispering Woods Hotel and Conference Center(d)	MS		181				Independent
Unconsolidated Operations
Hays(b)	KS		114		50	%	Hampton Inn
Hays(b)	KS		191		50	%	Holiday Inn
Salina(b)	KS		192		50	%	Holiday Inn
Salina – I-70(b)	KS		93		50	%	Holiday Inn Express & Suites
New Orleans – Chateau LeMoyne (In French Quarter/Historic Area)(b)	LA		171		50	%	Holiday Inn

(a)	We own 100% of the real estate interests unless otherwise noted.
(b)	This hotel is encumbered by mortgage debt or capital lease obligation.
(c)	We currently expect to surrender this hotel to the non-recourse debt holder in the second quarter of 2005.
(d)	This hotel was sold subsequent to March 31, 2005.

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