FelCor Lodging Trust 8K Felcor Reports 2007 Operating Results | FCH 29 Feb 08

Exhibit 99.2

FelCor Lodging Trust Incorporated

Supplemental Information

Three Months and Year Ended December 31, 2007

Date of Issuance February 28, 2008

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 and Year Ended December 31, 2007

TABLE OF CONTENTS

PAGE

CORPORATE DATA

About the Company

Board of Directors and Executive Officers

Equity Research Coverage

FINANCIAL HIGHLIGHTS

Supplemental Financial Data

Consolidated Statements of Operations

Discontinued Operations

Non-GAAP Financial Measures

Debt Summary

PORTFOLIO DATA

Portfolio Distribution

Detailed Operating Statistics by Brand

Detailed Operating Statistics for FelCor’s Top Markets

Pro Rata Share of Rooms Owned

Capital Expenditures

Renovation Completion Schedule

Projected Renovation Program Summary

Unconsolidated Operations

Hotels Sold in 2007

This supplement contains registered trademarks owned or licensed by companies other than us, which may include, but are not limited to, Crowne Plaza^®, Disneyland^®, Doubletree^®, Doubletree Guest Suites^®, Embassy Suites Hotels^®, Hampton Inn^®, Hilton^®, Hilton Suites^®, Holiday Inn^®, Holiday Inn & Suites^®, Holiday Inn Express & Suites^®, Holiday Inn Select^®, Marriott^®, Renaissance^®, Sheraton^®, Sheraton Suites^®, Walt Disney World^® and Westin^®.

With the exception of historical information, the matters discussed in this news release include “forward-looking statements” within the meaning of the federal securities laws. These forward-looking statements are identified by their use of terms and phrases such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “will,” “continue” and other similar terms and phrases, including references to assumption and forecasts of future results. 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 anticipated at the time the forward-looking statements are made. General economic conditions, operating risks associated with the hotel business, 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 fuel prices and security precautions, the availability of capital, the ability to effect sales of non-strategic hotels at anticipated prices, the cyclical nature of the real estate markets, our ability to continue to qualify as a Real Estate Investment Trust for federal income tax purposes and numerous other factors may affect future results, performance and achievements. Certain of these risks and uncertainties are described in greater detail in our 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. We undertake no obligation to update any forward-looking statement to conform the statement to actual results or changes in our expectations.

FelCor Lodging Trust Incorporated

Supplemental Information

Three Months and Year Ended December 31, 2007

CORPORATE DATA

About the Company

In 1994, FelCor Lodging Trust Incorporated, a real estate investment trust (REIT), went public with six hotels, and a market capitalization of $120 million. We are the nation’s largest owner of upper-upscale, all-suite hotels. At December 31, 2007, our portfolio was comprised of 85 consolidated hotels and resorts located in 23 states and Canada. For these hotels, the operating revenues and expenses are reflected in our consolidated statements of operations because of our majority ownership interests of the operating lessees of these hotels. We also owned 50 percent joint venture interests in four hotels whose operations were accounted for using the equity method. We were the largest owner of Embassy Suites Hotels and Doubletree Guest Suites hotels. We had an enterprise value of approximately $3.0 billion.

Strategy

Our long-term strategic plan is to own a diversified portfolio of high quality, upscale hotels flagged under leading brands and then increase shareholder value and return on invested capital by maximizing the use of our real estate and enhancing cash flow. We continually examine our portfolio to address issues of market supply, capital needs, changes in demand patterns and concentration of risk. In order to achieve our strategic objectives, we have identified four goals: portfolio repositioning; debt reduction; internal growth consisting of a comprehensive renovation program, redevelopment projects and a new asset management approach; and external growth.

		Public Ratings
	Corporate	Senior Debt	Preferred Stock
Moody’s	Ba3	Ba3	B2
Standard & Poors	BB-	B+	B-

Stock Exchange Listing

Common Stock (NYSE: FCH)

$1.95 Series A Cumulative Convertible Preferred Stock (NYSE: FCHPRA)

8% Series C Cumulative Redeemable Preferred Stock (NYSE: FCHPRC)

Fiscal Year End

December 31

Number of employees

Corporate Headquarters

545 E. John Carpenter Frwy., Suite 1300

Irving, TX 75062

(972) 444-4900

Investor/Media Relations Contact

Stephen A. Schafer

Vice President Strategic Planning & Investor Relations

(972) 444-4912

sschafer@felcor.com

Information Request

information@felcor.com

FelCor Lodging Trust Incorporated

Supplemental Information

Three Months and Year Ended December 31, 2007

Board of Directors

Thomas J. Corcoran, Jr.

Chairman of the Board, FelCor Lodging Trust Incorporated

Melinda J. Bush, C.H.A.

Chairman and Chief Executive Officer, HRW Holdings, LLC

Robert F. Cotter

President, Kerzner International Holdings Limited

Richard S. Ellwood

Private Investor

Thomas C. Hendrick

President and Partner, Sagewood Partners, LLC

David C. Kloeppel

Executive Vice President and Chief Financial Officer, Gaylord Entertainment Company

Charles A. Ledsinger, Jr.

Vice Chairman and Chief Executive Officer, Choice Hotels International

Robert H. Lutz, Jr.

President, RL Investments, Inc.

Robert A. Mathewson

President, RGC, Inc.

Richard A. Smith

President and Chief Executive Officer, FelCor Lodging Trust Incorporated

Executive Officers

Richard A. Smith, President and Chief Executive Officer

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

Troy A. Pentecost, Executive Vice President, Director of Asset Management

Andrew J. Welch,Executive Vice President and Chief Financial Officer

Jonathan H. Yellen, Executive Vice President, General Counsel and Secretary

FelCor Lodging Trust Incorporated

Supplemental Information

Three Months and Year Ended December 31, 2007

Equity Research Coverage

Firm

Analyst

Telephone

Citigroup Smith Barney

Joshua Attie

(212) 816-1533

Deutsche Bank North America

Chris Woronka

(212) 250-5815

Friedman, Billings, Ramsey & Co.

Wilkes Graham

(703) 312-9737

Green Street Advisors

John V. Arabia

(949) 640-8780

JPMorgan

C. Patrick Scholes

(212) 622-6656

Lehman Brothers

Felicia R. Hendrix

(212) 526-5562

Merrill Lynch

Amanda Bryant

(212) 449-2922

Morgan, Keegan & Co.

Napoleon Overton

(901) 579-4865

Stifel, Nicolaus & Company

Rod F. Petrik

(410) 454-4131

UBS (US)

William B. Truelove

(212) 713-8825

Wachovia Securities

Jeffrey J. Donnelly

(617) 603-4262

FelCor Lodging Trust Incorporated

Supplemental Information

Three Months and Year Ended December 31, 2007

FINANCIAL HIGHLIGHTS

Supplemental Financial Data

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

	December 31,
Total Enterprise Value	2007			2006
Common shares outstanding		62,707			62,052
Units outstanding		1,354			1,355
Combined shares and units outstanding		64,061			63,407
Common stock price at end of period	$	15.59		$	21.84
Common equity capitalization	$	998,711		$	1,384,809
Series A preferred stock		309,362			309,362
Series C preferred stock		169,412			169,412
Consolidated debt		1,475,607			1,369,153
Minority interest of consolidated debt		(7,305	)		(8,150	)
Pro rata share of unconsolidated debt		94,181			98,731
Cash and cash equivalents		(57,609	)		(124,179	)
Total enterprise value (TEV)	$	2,982,359		$	3,199,138

Dividends Per Share
Dividends declared (full year):
Common stock	$	1.20		$	0.80
Series A preferred stock		1.95			1.95
Series C preferred stock (depositary shares)		2.00			2.00

Selected Balance Sheet Data
Investment in hotels, net	$	2,400,057		$	2,044,285
Hotels held for sale		-			133,801
Total cash and cash equivalents		57,609			124,179
Total assets		2,683,835			2,583,249
Total debt		1,475,607			1,369,153
Total stockholders’ equity		1,006,914			1,010,931
Total stockholders equity less preferred equity		528,140			532,157
Book value per common share outstanding		8.42			8.58

FelCor Lodging Trust Incorporated

Supplemental Information

Three and Nine Months Ended September 30, 2007

Consolidated Statements of Operations

(in thousands, except per share data)

	Three Months Ended						Year Ended
	December 31,						December 31,
	2007			2006			2007			2006
Revenues:
Hotel operating revenue:
Room	$	197,495		$	185,491		$	830,978		$	809,466
Food and beverage		37,647			34,928			136,793			129,200
Other operating departments		12,887			12,473			51,024			52,293
Other revenue		477			10			3,089			79
Total revenues		248,506			232,902			1,021,884			991,038

Expenses:
Hotel departmental expenses:
Room		50,032			47,690			204,426			199,283
Food and beverage		27,873			25,249			104,086			97,012
Other operating departments		5,397			5,602			20,924			23,436
Other property related costs		67,957			66,168			275,217			270,301
Management and franchise fees		12,790			11,775			53,508			51,237
Taxes, insurance and lease expense		28,872			27,926			121,259			112,052
Abandoned projects		-			33			22			33
Corporate expenses		4,986			4,778			20,718			23,308
Other expenses		1,112			-			2,803			-
Depreciation		30,022			24,483			110,751			94,579
Total operating expenses		229,041			213,704			913,714			871,241

Operating income		19,465			19,198			108,170			119,797
Interest expense, net		(23,755	)		(24,021	)		(92,489	)		(110,867	)
Charge-off of deferred financing costs		-			(2,599	)		-			(3,562	)
Early extinguishment of debt, net		-			(12,033	)		-			(12,471	)
Gain on swap termination		-			1,715			-			1,715
Income (loss) before equity in income from unconsolidated entities, minority interests and sale of assets		(4,290	)		(17,740	)		15,681			(5,388	)
Equity in income from unconsolidated entities		846			1,829			20,357			11,537
Minority interests		570			867			1,033			2,508
Loss on sale of other assets		-			-			-			(92	)
Gain on sale of condominiums		129			-			18,622			-
Income (loss) from continuing operations		(2,745	)		(15,044	)		55,693			8,565
Discontinued operations		(547	)		26,030			33,346			42,480
Net income (loss)		(3,292	)		10,986			89,039			51,045
Preferred dividends		(9,679	)		(9,691	)		(38,713	)		(38,713	)
Net income (loss) applicable to common stockholders	$	(12,971	)	$	1,295		$	50,326		$	12,332

Basic per common share data:
Net income (loss) from continuing operations	$	(0.20	)	$	(0.40	)	$	0.28		$	(0.50	)
Net income (loss)	$	(0.21	)	$	0.02		$	0.82		$	0.20
Basic weighted average common shares outstanding		61,649			61,268			61,600			60,734
Diluted per common share data:
Net income (loss) from continuing operations	$	(0.20	)	$	(0.40	)	$	0.27		$	(0.50	)
Net income (loss)	$	(0.21	)	$	0.02		$	0.81		$	0.20
Diluted weighted average common shares outstanding		61,649			61,268			61,897			60,734
Cash dividends declared on common stock	$	0.35		$	0.25		$	1.20		$	0.80

FelCor Lodging Trust Incorporated

Supplemental Information

Three Months and Year Ended December 31, 2007

Discontinued Operations

(in thousands)

Discontinued operations include the results of operations of 11 hotels sold in 2007 and 31 hotels sold in 2006. Condensed financial information for the hotels included in discontinued operations is as follows:

	Three Months Ended						Year Ended
	December 31,						December 31,
	2007			2006			2007				2006
Operating revenue	$	-		$	32,268		$	26,522		$	204,494
Operating expenses		(59	)		(31,891	)		(18,430	)		(200,958	)
Operating income (loss)		(59	)		377			8,092			3,536
Interest income (expense), net		-			(259	)		(14	)		(1,206	)
Gain (loss) on sale of hotels, net of income tax		(500	)		25,902			27,988			41,222
Gain on sale of land		-			1,958			-			1,958
Debt extinguishment		-			(1,071	)		(902	)		(1,311	)
Minority interests		12			(877	)		(1,818	)		(1,719	)
Income (loss) from discontinued operations		(547	)		26,030			33,346			42,480
Depreciation and amortization, net of minority interests		-			2,548			14			15,451
Minority interest in FelCor LP		(12	)		569			724			903
Interest expense, net of minority interests		-			241			27			1,168
EBITDA from discontinued operations		(559	)		29,388			34,111			60,002
Loss (gain) on sale of hotels, net of income tax and minority interests		500			(25,902	)		(27,330	)		(40,650	)
Impairment loss, net of minority interests		-			1,332			-			15,547
Charges related to early extinguishment of debt, net of minority interests		-			1,069			811			1,285
Abandoned projects		-			79			-			79
Adjusted EBITDA from discontinued operations	$	(59	)	$	5,966		$	7,592		$	36,263

Non-GAAP Financial Measures

We refer in this supplement to certain “non-GAAP financial measures.” These measures, including FFO, Adjusted FFO, Same-Store FFO, EBITDA, Adjusted EBITDA, Same-Store EBITDA, Hotel EBITDA and Hotel EBITDA margin, are measures of our financial performance that are not calculated and presented in accordance with generally accepted accounting principles (“GAAP”). The following tables 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 the limitations of such measures.

FelCor Lodging Trust Incorporated

Supplemental Information

Three Months and Year Ended December 31, 2007

Non-GAAP Financial Measures (continued)

Reconciliation of Net Income (Loss) to FFO, Adjusted FFO and Same-Store FFO

(in thousands, except per share and unit data)

	Three Months Ended December 31,
	2007							2006
	Dollars			Shares	Per Share Amount			Dollars			Shares	Per Share Amount
Net income (loss)	$	(3,292	)					$	10,986
Preferred dividends		(9,679	)						(9,691	)
Net income (loss) applicable to common stockholders		(12,971	)	61,649	$	(0.21	)		1,295		61,268	$	0.02
Depreciation, continuing operations		30,022		-		0.49			24,483		-		0.40
Depreciation, unconsolidated entities and discontinued operations		3,465		-		0.06			5,533		-		0.09
Loss (gain) on sale of hotels, net of income tax and minority interests		500		-		0.01			(25,902	)	-		(0.43	)
Minority interest in FelCor LP		(281	)	1,354		(0.02	)		28		1,355		0.01
Conversion of options and unvested restricted stock		-		341		-			-		371		-
FFO		20,735		63,344		0.33			5,437		62,994		0.09
Impairment loss, net of minority interests		-		-		-			1,332		-		0.02
Abandoned projects		-		-		-			112		-		-
Charges related to early extinguishment of debt, net of minority interests		-		-		-			15,786		-		0.25
Gain on swap termination		-		-		-			(1,715	)	-		(0.03	)
Conversion costs^(a)		491		-		0.01			-		-		-
Adjusted FFO		21,226		63,344		0.34			20,952		62,994		0.33
Adjusted FFO from discontinued operations and acquired hotels		1,154		-		0.01			(5,728	)	-		(0.09	)
Gain on the sale of condominiums		(129	)	-		-			-		-		-
Same-Store FFO	$	22,251		63,344	$	0.35		$	15,224		62,994	$	0.24

^(a)	These costs relate to the conversion of our Hotel 480 Union Square in San Francisco to a Marriott brand. The conversion is expected to be complete by early 2009.

FelCor Lodging Trust Incorporated

Supplemental Information

Three Months and Year Ended December 31, 2007

Non-GAAP Financial Measures (continued)

Reconciliation of Net Income to FFO, Adjusted FFO and Same-Store FFO

(in thousands, except per share and unit data)

	Year Ended December 31,
	2007							2006
	Dollars			Shares	Per Share Amount			Dollars			Shares	Per Share Amount
Net income	$	89,039						$	51,045
Preferred dividends		(38,713	)						(38,713	)
Net income applicable to common stockholders		50,326		61,897	$	0.81			12,332		60,734	$	0.20
Depreciation, continuing operations		110,751		-		1.79			94,579		-		1.56
Depreciation, unconsolidated entities and discontinued operations		12,071		-		0.20			26,911		-		0.44
Gain on sale of hotels, net of income tax and minority interests		(27,330	)	-		(0.44	)		(40,650	)	-		(0.67	)
Gain on sale of hotels in unconsolidated entities		(10,993	)	-		(0.18	)		-		-		-
Minority interest in FelCor LP		1,094		1,354		(0.03	)		279		1,864		(0.04	)
Conversion of options and unvested restricted stock		-		-		-			-		327		-
FFO		135,919		63,251		2.15			93,451		62,925		1.49
Impairment loss, net of minority interest		-		-		-			15,547		-		0.24
Abandoned projects		22		-		-			112		-		-
Charges related to debt extinguishment, net of minority interest		811		-		0.01			17,472		-		0.28
Gain on swap termination		-		-		-			(1,715	)	-		(0.03	)
Conversion costs^(a)		491		-		0.01			-		-		-
Adjusted FFO		137,243		63,251		2.17			124,867		62,925		1.98
Adjusted FFO from discontinued operations and acquired hotels		(6,470	)	-		(0.11	)		(35,111	)	-		(0.55	)
Gain on sale of condominiums		(18,622	)	-		(0.29	)		-		-		-
Same-Store FFO	$	112,151		63,251	$	1.77		$	89,756		62,925	$	1.43

^(a)	These costs relate to the conversion of our Hotel 480 Union Square in San Francisco to a Marriott brand. The conversion is expected to be complete by early 2009.

FelCor Lodging Trust Incorporated

Supplemental Information

Three Months and Year Ended December 31, 2007

Non-GAAP Financial Measures (continued)

Reconciliation of Net Income to EBITDA, Adjusted EBITDA and Same-Store EBITDA

(in thousands)

	Three Months Ended December 31,						Year Ended December 31,
	2007			2006			2007			2006
Net income (loss)	$	(3,292	)	$	10,986		$	89,039		$	51,045
Depreciation, continuing operations		30,022			24,483			110,751			94,579
Depreciation, unconsolidated entities and discontinued operations		3,465			5,533			12,071			26,911
Minority interest in FelCor Lodging LP		(281	)		28			1,094			279
Interest expense		25,318			25,538			98,929			114,909
Interest expense, unconsolidated entities and discontinued operations		1,417			2,104			5,987			7,657
Amortization expense		1,127			741			4,255			5,080
EBITDA		57,776			69,413			322,126			300,460
Loss (gain) on sale of hotels, net of income tax and minority interests		500			(25,902	)		(27,330	)		(40,650	)
Gain on sale of hotels in unconsolidated entities		-			-			(10,993	)		-
Impairment loss, discontinued operations		-			1,332			-			15,547
Abandoned projects		-			112			22			112
Charges related to debt extinguishment, net of minority interests		-			15,786			811			17,472
Gain on swap termination		-			(1,715	)		-			(1,715	)
Conversion costs^(a)		491			-			491			-
Adjusted EBITDA		58,767			59,026			285,127			291,226
Adjusted EBITDA from discontinued operations and acquired hotels		552			(5,966	)		(7,099	)		(36,263	)
Gain on sale of condominiums		(129	)		-			(18,622	)		-
Same-Store EBITDA	$	59,190		$	53,060		$	259,406		$	254,963

^(a)	These costs relate to the conversion of our Hotel 480 Union Square in San Francisco to a Marriott brand. The conversion is expected to be complete by early 2009.

FelCor Lodging Trust Incorporated

Supplemental Information

Three Months and Year Ended December 31, 2007

Non-GAAP Financial Measures (continued)

Reconciliation of Adjusted EBITDA to Hotel EBITDA

(in thousands)

	Three Months Ended December 31,						Year Ended December 31,
	2007			2006			2007			2006
Adjusted EBITDA	$	58,767		$	59,026		$	285,127		$	291,226
Other revenue		(477	)		(10	)		(3,089	)		(79	)
Adjusted EBITDA from discontinued operations		59			(5,966	)		(7,592	)		(36,263	)
Equity in income from unconsolidated subsidiaries (excluding interest and depreciation expense)		(6,233	)		(7,139	)		(29,095	)		(31,309	)
Minority interest in other partnerships (excluding interest and depreciation expense)		203			51			311			(215	)
Consolidated hotel lease expense		13,923			15,190			61,652			61,054
Unconsolidated taxes, insurance and lease expense		(1,726	)		(1,377	)		(7,314	)		(6,273	)
Interest income		(1,563	)		(1,517	)		(6,440	)		(4,042	)
Other expenses		622			-			2,312			-
Corporate expenses (excluding amortization expense)		3,859			4,037			16,463			18,228
Loss on sale of other assets		-			-			-			92
Gain on sale of condominiums		(129	)		-			(18,622	)		-
Hotel EBITDA	$	67,305		$	62,295		$	293,713		$	292,419

Reconciliation of Net Income to Hotel EBITDA

(in thousands)

	Three Months Ended December 31,						Year Ended December 31,
	2007			2006			2007			2006
Net income (loss)	$	(3,292	)	$	10,986		$	89,039		$	51,045
Discontinued operations		547			(26,030	)		(33,346	)		(42,480	)
Equity in income from unconsolidated entities		(846	)		(1,829	)		(20,357	)		(11,537	)
Minority interests		(570	)		(867	)		(1,033	)		(2,508	)
Consolidated hotel lease expense		13,923			15,190			61,652			61,054
Unconsolidated taxes, insurance and lease expense		(1,726	)		(1,377	)		(7,314	)		(6,273	)
Interest expense, net		23,755			24,021			92,489			110,867
Charges related to debt extinguishment		-			14,632			-			16,033
Gain on swap termination		-			(1,715	)		-			(1,715	)
Corporate expenses		4,986			4,778			20,718			23,308
Depreciation		30,022			24,483			110,751			94,579
Other expenses		1,112			-			2,803			-
Abandoned projects		-			33			22			33
Loss on sale of other assets		-			-			-			92
Gain on sale of condominiums		(129	)		-			(18,622	)		-
Other revenue		(477	)		(10	)		(3,089	)		(79	)
Hotel EBITDA	$	67,305		$	62,295		$	293,713		$	292,419

FelCor Lodging Trust Incorporated

Supplemental Information

Three Months and Year Ended December 31, 2007

Non-GAAP Financial Measures (continued)

Hotel EBITDA and Hotel EBITDA Margin

(dollars in thousands)

	Three Months Ended December 31,						Year Ended December 31,
	2007			2006			2007			2006
Total revenue	$	248,506		$	232,902		$	1,021,884		$	991,038
Retail space rental and other revenue		(477	)		(10	)		(3,089	)		(79	)
Hotel operating revenue		248,029			232,892			1,018,795			990,959
Hotel operating expenses		(180,724	)		(170,597	)		(725,082	)		(698,540	)
Hotel EBITDA	$	67,305		$	62,295		$	293,713		$	292,419
Hotel EBITDA margin		27.1%			26.7%			28.8%			29.5%

Reconciliation of Ratio of Operating Income to Total Revenue to Hotel EBITDA Margin

	Three Months Ended December 31,				Year Ended December 31,
	2007		2006		2007		2006
Ratio of operating income to total revenue	7.8	%	8.2	%	10.6	%	12.1	%
Other revenue	(0.2	)	-		(0.3	)	-
Unconsolidated taxes, insurance and lease expense	(0.7	)	(0.6	)	(0.7	)	(0.6	)
Consolidated hotel lease expense	5.6		6.5		6.1		6.2
Other expenses	0.5		-		0.2		-
Corporate expenses	2.0		2.1		2.0		2.3
Depreciation	12.1		10.5		10.9		9.5
Hotel EBITDA margin	27.1	%	26.7	%	28.8	%	29.5	%

Reconciliation of Total Operating Expense to Hotel Operating Expense

(dollars in thousands)

	Three Months Ended December 31,						Year Ended December 31,
	2007			2006			2007			2006
Reconciliation of total operating expenses to hotel operating expenses:
Total operating expenses	$	229,041		$	213,704		$	913,714		$	871,241
Unconsolidated taxes, insurance and lease expense		1,726			1,377			7,314			6,273
Consolidated hotel lease expense		(13,923	)		(15,190	)		(61,652	)		(61,054	)
Corporate expenses		(4,986	)		(4,778	)		(20,718	)		(23,308	)
Other expenses		(1,112	)		-			(2,803	)		-
Abandoned projects		-			(33	)		(22	)		(33	)
Depreciation		(30,022	)		(24,483	)		(110,751	)		(94,579	)
Hotel operating expenses	$	180,724		$	170,597		$	725,082		$	698,540

FelCor Lodging Trust Incorporated

Supplemental Information

Three Months and Year Ended December 31, 2007

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 diminish 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, Same-Store FFO, EBITDA, Adjusted EBITDA, Same-Store EBITDA, Hotel EBITDA and Hotel EBITDA margin, are not measures of operating performance under GAAP. However, we consider these non-GAAP measures to be supplemental measures of a hotel 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 such as those described below provides useful supplemental information to investors regarding our ongoing operating performance and that the presentation of Adjusted FFO, Same-Store 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.

FelCor Lodging Trust Incorporated

Supplemental Information

Three Months and Year Ended December 31, 2007

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 FFO, we make the same adjustments to FFO as for Adjusted FFO and additionally, exclude FFO from discontinued operations, FFO from hotels acquired during the most recent year, and gains and losses from the disposition of non-depreciable assets. To derive Same-Store EBITDA, we make the same adjustments to EBITDA as for Adjusted EBITDA and, additionally, exclude EBITDA from discontinued operations, EBITDA from hotels acquired during the most recent year, and gains and losses from the disposition of non-depreciable assets.

Hotel EBITDA and Hotel EBITDA Margin

Hotel EBITDA and Hotel EBITDA 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 EBITDA and Hotel EBITDA margin are useful to investors by providing greater transparency with respect to two significant measures used by us in our financial and operational decision-making. Additionally, these measures facilitate comparisons with other hotel REITs and hotel owners. We present Hotel EBITDA and Hotel EBITDA 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 with respect to the ongoing operating performance of our hotels and the effectiveness of management on a property-level basis. We eliminate depreciation and amortization, even though they are property-level expenses, because we do not believe that these non-cash expenses, which are based on historical cost accounting for real estate assets and implicitly assume that the value of real estate assets diminish predictably over time, accurately reflect an adjustment in the value of our assets. We also eliminate consolidated percentage rent paid to unconsolidated entities, which is effectively eliminated by minority interest expense and equity in income from unconsolidated subsidiaries, and include the cost of unconsolidated taxes, insurance and lease expense, to reflect the entire operating costs applicable to our hotels.

FelCor Lodging Trust Incorporated

Supplemental Information

Three Months and Year Ended December 31, 2007

Non-GAAP Financial Measures (continued)

Limitations of Non-GAAP Measures

The use of these non-GAAP financial measures has certain limitations. FFO, Adjusted FFO, Same-Store FFO, EBITDA, Adjusted EBITDA, Same-Store EBITDA, Hotel EBITDA and Hotel EBITDA margin, as presented by us, may not be comparable to FFO, Adjusted FFO, Same-Store FFO, EBITDA, Adjusted EBITDA, Same-Store EBITDA, Hotel EBITDA and Hotel EBITDA margin as calculated by other real estate companies. These measures do not reflect certain expenses that we incurred and will incur, such as depreciation and interest or 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, Same-Store FFO, 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, Same-Store FFO, EBITDA, Adjusted EBITDA, Same-Store EBITDA, Hotel EBITDA and Hotel EBITDA 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.

FelCor Lodging Trust Incorporated

Supplemental Information

Three Months and Year Ended December 31, 2007

Debt Summary

(dollars in thousands)

Encumbered

Interest Rate at

Maturity

Consolidated

Hotels

December 31, 2007

Date

Debt

Line of credit^(a)

none

L + 0.80

August 2011

Senior term notes

none

8.50^(b)

June 2011

299,163

Senior term notes

none

L + 1.875

December 2011

215,000

Special line of credit

none

L + 0.40

March 2008

8,350

Total line of credit and senior debt^(c)

7.65

522,513

Mortgage debt

12 hotels

L + 0.93^(d)

November 2008^(e)

250,000

Mortgage debt

7 hotels

6.57

June 2009-2014

89,087

Mortgage debt

7 hotels

7.32

March 2009

120,827

Mortgage debt

8 hotels

8.70

May 2010

165,981

Mortgage debt

6 hotels

8.73

May 2010

119,568

Mortgage debt

2 hotels

L + 1.55^(f)

May 2009^(g)

175,980

Mortgage debt

1 hotel

L + 2.85

August 2008

15,500

Mortgage debt

1 hotel

5.81

July 2016

12,509

Other

1 hotel

9.17

August 2011

3,642

Total mortgage debt^(c)

45 hotels

6.99

953,094

Total

7.22

1,475,607

(a)

We have a borrowing capacity of $250 million on our line of credit. The interest on this line can range from 80 to 150 basis points over LIBOR, based on our leverage ratio as defined in our line of credit agreement.

(b)

The interest rate on these senior notes will increase to 9.0% if the credit rating on our senior debt is downgraded by Moody’s to B1 and Standard & Poor’s rating remains below BB-.

(c)

Interest rates are calculated based on the weighted average debt outstanding at December 31, 2007.

(d)

We have purchased an interest rate cap for this notional amount with a cap rate of 7.8% that expires in November 2008.

(e)

This loan has three one-year extension options that permit the maturity to be extended to 2011, at our option.

(f)

We have purchased interest rate caps for $177 million aggregate notional amounts with cap rates of 6.25% which expire in May 2009.

(g)

These loans have three one-year extension options that permit the maturity to be extended to 2012, at our option.

Debt Statistics at December 31, 2007

Weighted average interest	7.22%
Fixed interest rate debt to total debt	54.9%
Weighted average maturity of debt	4 years
Mortgage debt to total assets	35.5%

FelCor Lodging Trust Incorporated

Supplemental Information

Three Months and Year Ended December 31, 2007

Debt Summary (continued)

At December 31, 2007, future scheduled principal payments on outstanding debt are as follows (in thousands):

Year		Secured Debt			Unsecured Debt			Total
2008	$	279,233		$	8,350		$	287,583	^(a)
2009		319,465			-			319,465	^(b)
2010		274,376			-			274,376
2011		3,030			515,000			518,030
2012		2,415			-			2,415
2013 and thereafter		75,820			-			75,820
Discount		(1,245	)		(837	)		(2,082	)
Total debt	$	953,094		$	522,513		$	1,475,607

(a)

Includes $250,000 of mortgage debt that has three one-year extension options.

(b)

Includes $176 million of mortgage debt that has three one-year extension options.

At December 31, 2007, we had unconsolidated 50 percent investments in ventures that owned an aggregate of 17 hotels. These ventures had approximately $188 million of non-recourse mortgage debt, all of which is secured by hotel assets. Our pro rata share of this non-recourse debt was $94 million.

FelCor Lodging Trust Incorporated

Supplemental Information

Three Months and Year Ended December 31, 2007

PORTFOLIO DATA

Portfolio Distribution at December 31, 2007

(85 consolidated hotels)

Brand	Hotels	Rooms	% of Total Rooms	% of 2007 Hotel EBITDA^(a)
Embassy Suites Hotels	47	12,129	48	57
Holiday Inn-branded	17	6,305	25	19
Sheraton -branded	8	2,681	11	13
Doubletree-branded	7	1,471	6	7
Hilton-branded	2	559	2	2
Renaissance Resorts	2	921	4	-
Other	2	939	4	2

Top Markets
South Florida area	5	1,436	6	7
Atlanta	5	1,462	6	7
Los Angeles area	4	898	4	6
San Francisco Bay area	6	2,141	9	6
Orlando	5	1,690	7	5
Dallas	4	1,333	6	4
Minneapolis	3	736	3	4
Phoenix	3	798	3	4
Northern New Jersey	3	756	3	4
San Diego	1	600	2	3
Washington, D.C.	1	443	2	3
Chicago	3	795	3	3
San Antonio	3	874	4	3
Philadelphia	2	729	3	3
Boston	2	532	2	2

Location
Suburban	33	8,360	33	36
Urban	20	6,362	25	25
Airport	20	6,205	26	26
Resort	12	4,078	16	13

Segment
Upper-upscale	68	18,700	75	81
Full service	17	6,305	25	19

(a)

Hotel EBITDA is more fully described on page 15 of this supplement.

FelCor Lodging Trust Incorporated

Supplemental Information

Three Months and Year Ended December 31, 2007

Detailed Operating Statistics by Brand

(83 consolidated hotels)^(a)

	Occupancy (%)
	Three Months Ended December 31,				Year Ended December 31,
	2007	2006	%Variance		2007		2006	%Variance
Embassy Suites	68.0	71.2	(4.4	)	71.7		75.0	(4.5	)
Holiday Inn	65.3	58.8	11.1		69.1		69.2	(0.1	)
Sheraton and Westin^(b)	63.2	66.7	(5.2	)	68.1		70.8	(3.8	)
Doubletree	68.2	67.5	1.1		71.7		74.2	(3.4	)
Other^(c)	61.9	58.2	6.4		68.9		67.8	1.6

Total	66.4	66.6	(0.2	)	70.4		72.6	(3.0	)




	ADR ($)
	Three Months Ended December 31,					Year Ended December 31,
	2007	2006	%Variance			2007	2006	%Variance
Embassy Suites	141.69	133.05	6.5			143.10	134.12	6.7
Holiday Inn	119.89	109.46	9.5			117.59	109.52	7.4
Sheraton and Westin^(b)	127.62	121.70	4.9			126.77	121.10	4.7
Doubletree	139.38	129.91	7.3			143.11	130.27	9.9
Other^(c)	131.98	128.50	2.7			137.29	132.33	3.7

Total	133.79	125.73	6.4			134.21	125.98	6.5




	RevPAR ($)
	Three Months Ended December 31,					Year Ended December 31,
	2007	2006	%Variance			2007	2006	%Variance
Embassy Suites	96.39	94.68	1.8			102.54	100.63	1.9
Holiday Inn	78.31	64.38	21.6			81.22	75.74	7.2
Sheraton and Westin^(b)	80.63	81.13	(0.6	)		86.33	85.73	0.7
Doubletree	95.11	87.69	8.5			102.55	96.68	6.1
Other^(c)	81.66	74.75	9.2			94.62	89.73	5.4

Total	88.89	83.72	6.2			94.48	91.45	3.3

(a)

The two Renaissance Resorts we acquired in December 2007 are excluded from this comparison.

(b)

Includes eight Sheraton-branded hotels and one Westin hotel.

(c)

Other hotels include two Hilton-branded hotels and one Crowne Plaza hotel.

FelCor Lodging Trust Incorporated

Supplemental Information

Three Months and Year Ended December 31, 2007

Detailed Operating Statistics for FelCor’s Top Markets

(83 consolidated hotels)^(a)

	Occupancy (%)
	Three Months Ended December 31,							Year Ended December 31,
	2007	2006	%Variance					2007	2006		%Variance
South Florida area	72.3	78.4	(7.7	)				73.2	79.5		(7.9			)
Atlanta	66.2	68.5	(3.4	)				73.2	75.2		(2.5			)
Los Angeles area	61.8	70.0	(11.6	)				74.5	75.2		(0.9			)
San Francisco Bay area	74.8	70.3	6.4					76.6	76.0		0.8
Orlando	74.3	69.8	6.5					76.8	76.6		0.3
Dallas	64.8	64.3	0.7					65.0	69.9		(7.1			)
Minneapolis	67.5	66.4	1.7					74.8	70.2		6.6
Phoenix	63.6	69.9	(9.0	)				67.3	72.9		(7.6			)
Northern New Jersey	73.6	66.3	11.0					72.0	69.3		3.8
San Diego	69.2	74.9	(7.6	)				74.5	81.5		(8.6			)
Washington, D.C.	59.6	63.3	(5.8	)				65.7	66.4		(1.1			)
Chicago	70.1	70.8	(1.0	)				71.5	74.9		(4.5			)
San Antonio	61.1	66.8	(8.6	)				73.7	76.1		(3.2			)
Philadelphia	69.5	68.8	0.9					68.9	73.4		(6.1			)
Boston	72.3	62.8	15.2					68.6	73.0		(6.0			)
	ADR ($)
	Three Months Ended December 31,							Year Ended December 31,
	2007	2006	%Variance					2007	2006		%Variance
South Florida area	145.04	134.92	7.5					151.23	140.16		7.9
Atlanta	124.73	116.89	6.7					122.66	118.35		3.6
Los Angeles area	153.95	139.11	10.7					158.71	142.74		11.2
San Francisco Bay area	144.51	132.82	8.8					141.59	130.97		8.1
Orlando	104.96	99.77	5.2					105.62	100.24		5.4
Dallas	122.10	113.71	7.4					123.83	112.87		9.7
Minneapolis	146.38	137.70	6.3					144.24	137.72		4.7
Phoenix	145.37	138.53	4.9					146.03	133.17		9.7
Northern New Jersey	160.24	153.89	4.1					157.02	148.76		5.5
San Diego	153.18	142.75	7.3					154.92	140.40		10.3
Washington, D.C.	160.14	164.03	(2.4		)			164.66	161.75		1.8
Chicago	132.18	127.64	3.6					131.68	123.78		6.4
San Antonio	106.48	102.31	4.1					109.66	103.94		5.5
Philadelphia	146.02	138.13	5.7					138.88	130.00		6.8
Boston	165.15	153.41	7.7					158.52	151.65		4.5
	RevPAR ($)
	Three Months Ended December 31,						Year Ended December 31,
	2007	2006	%Variance				2007			2006		%Variance
South Florida area	104.93	105.76	(0.8			)	110.67			111.38		(0.6	)
Atlanta	82.54	80.05	3.1				89.85			88.95		1.0
Los Angeles area	95.21	97.32	(2.2			)	118.26			107.36		10.2
San Francisco Bay area	108.10	93.34	15.8				108.42			99.53		8.9
Orlando	78.04	69.63	12.1				81.11			76.78		5.6
Dallas	79.07	73.11	8.2				80.47			78.94		1.9
Minneapolis	98.86	91.46	8.1				107.91			96.69		11.6
Phoenix	92.45	96.81	(4.5			)	98.32			97.05		1.3
Northern New Jersey	117.93	102.05	15.6				113.07			103.16		9.6
San Diego	106.05	106.92	(0.8			)	115.36			114.36		0.9
Washington, D.C.	95.39	103.76	(8.1			)	108.10			107.42		0.6
Chicago	92.66	90.38	2.5				94.18			92.75		1.5
San Antonio	65.05	68.39	(4.9			)	80.84			79.14		2.1
Philadelphia	101.42	95.10	6.6				95.68			95.36		0.3
Boston	119.47	96.35	24.0				108.72			110.67		(1.8	)

(a)

The two Renaissance Resorts we acquired in December 2007 are excluded from this analysis.

FelCor Lodging Trust Incorporated

Supplemental Information

Three Months and Year Ended December 31, 2007

Pro Rata Share of Rooms Owned

	Hotels	Room Count at December 31, 2007
Consolidated hotels in continuing operations	85		25,005
Unconsolidated hotel operations	4		647
Total hotels	89		25,652

50% joint ventures	17		(2,032	)
60% joint ventures	1		(214	)
75% joint ventures	1		(55	)
90% joint ventures	3		(68	)
97% joint venture	1		(10	)
Total owned rooms by joint venture partners			(2,379	)
Pro rata share of rooms owned			23,273

Capital Expenditures (dollars in thousands)

	Three Months Ended December 31,				Year Ended December 31,
	2007		2006		2007		2006
Improvements and additions to consolidated hotels	$ 43,809		$ 60,285		$ 228,390		$ 169,284
Joint venture partners’ prorata share of additions to hotels	(862	)	(810	)	(3,420	)	(1,840	)
Prorata share of unconsolidated additions to hotels	7,740		2,653		26,816		11,483
Total additions to hotels⁽¹⁾	$ 50,687		$ 62,128		$ 251,786		$ 178,927

(1)

Includes capitalized interest, property taxes, ground leases and certain employee costs.

FelCor Lodging Trust Incorporated

Supplemental Information

Three Months and Year Ended December 31, 2007

Hotel Portfolio Listing

State

Rooms

% Owned

^(a)

Brand

Consolidated Hotels

Birmingham^{(b) (c)}

242

Embassy Suites Hotel

Phoenix – Biltmore^(b)

232

Embassy Suites Hotel

Phoenix Crescent Hotel^{(b) (c)}

342

Sheraton

Phoenix Tempe^(b)

224

Embassy Suites Hotel

Dana Point – Doheny Beach

195

Doubletree Guest Suites

Indian Wells – Esmeralda Resort & Spa^(b)

560

Renaissance Resort

Los Angeles – Anaheim (Located near Disneyland Park)^(b)

222

Embassy Suites Hotel

Los Angeles – El Segundo – International Airport –South

349

97%

Embassy Suites Hotel

Milpitas – Silicon Valley^(b)

266

Embassy Suites Hotel

Napa Valley^(b)

205

Embassy Suites Hotel

Oxnard – Mandalay Beach Resort & Conference Center^(c)

248

Embassy Suites Hotel

San Diego – On the Bay

600

Holiday Inn

San Francisco – Burlingame Airport

340

Embassy Suites Hotel

San Francisco – South San Francisco Airport^(b)

312

Embassy Suites Hotel

San Francisco – Fisherman’s Wharf

585

Holiday Inn

San Francisco – Hotel 480 Union Square

403

Independent^(d)

San Rafael – Marin County/Conference Center^(b)

235

50%

Embassy Suites Hotel

Santa Barbara – Goleta

160

Holiday Inn

Santa Monica – Beach at the Pier^(c)

132

Holiday Inn

Wilmington^(b)

244

90%

Doubletree

Boca Raton^(b)

263

Embassy Suites Hotel

Cocoa Beach – Oceanfront

500

Holiday Inn

Deerfield Beach – Boca Raton/Deerfield Beach Resort^{(b) (c)}

244

Embassy Suites Hotel

Ft. Lauderdale – 17th Street^(b)

358

Embassy Suites Hotel

Ft. Lauderdale – Cypress Creek^(b)

253

Sheraton Suites

Jacksonville – Baymeadows^(b)

277

Embassy Suites Hotel

Miami – International Airport^(b)

318

Embassy Suites Hotel

Orlando – International Airport^(b)

288

Holiday Inn

Orlando – International Drive – Resort

652

Holiday Inn

Orlando – International Drive South/Convention Center^(b)

244

Embassy Suites Hotel

Orlando– (North)

277

Embassy Suites Hotel

Orlando – Walt Disney World Resort

229

Doubletree Guest Suites

St. Petersburg – Vinoy Resort & Golf Club^(b)

361

Renaissance Resort

Tampa– On Tampa Bay^(b)

203

Doubletree Guest Suites

Atlanta – Airport^(b)

232

Embassy Suites Hotel

Atlanta – Buckhead^{(b) (c)}

316

Embassy Suites Hotel

Atlanta – Galleria^(b)

278

Sheraton Suites

Atlanta – Gateway – Atlanta Airport

395

Sheraton

Atlanta – Perimeter Center^{(b) (c)}

241

50%

Embassy Suites Hotel

Chicago – Lombard/Oak Brook^(b)

262

50%

Embassy Suites Hotel

Chicago – Northshore/Deerfield (Northbrook) ^(b)

237

Embassy Suites Hotel

Chicago – O’Hare Airport^(b)

296

Sheraton Suites

Indianapolis – North^{(b) (c)}

221

75%

Embassy Suites Hotel

Kansas City – Overland Park^{(b) (c)}

199

50%

Embassy Suites Hotel

Lexington – Lexington Green^(b)

174

Hilton Suites

Baton Rouge^(b)

223

Embassy Suites Hotel

FelCor Lodging Trust Incorporated

Supplemental Information

Three Months and Year Ended December 31, 2007

Hotel Portfolio Listing

State

Rooms

% Owned^(a)

Brand

New Orleans^{(b) (c)}

370

Embassy Suites Hotel

New Orleans – French Quarter^(c)

374

Holiday Inn

Boston – Beacon Hill

303

Holiday Inn

Boston – Marlborough^(b)

229

Embassy Suites Hotel

Baltimore – BWI Airport^(b)

251

90%

Embassy Suites Hotel

Bloomington^{(b) (c)}

218

Embassy Suites Hotel

Minneapolis – Airport^(b)

310

Embassy Suites Hotel

St. Paul – Downtown^(b)

208

Embassy Suites Hotel

Kansas City – Plaza^{(b) (c)}

266

50%

Embassy Suites Hotel

Charlotte^{(b) (c)}

274

50%

Embassy Suites Hotel

Charlotte SouthPark

208

Doubletree Guest Suites

Raleigh^(b)

203

Doubletree Guest Suites

Raleigh – Crabtree^{(b) (c)}

225

50%

Embassy Suites Hotel

Parsippany^(b)

274

50%

Embassy Suites Hotel

Piscataway – Somerset^(b)

221

Embassy Suites Hotel

Secaucus – Meadowlands^(b)

261

50%

Embassy Suites Hotel

Philadelphia – Historic District

364

Holiday Inn

Philadelphia – Society Hill^(b)

365

Sheraton

Pittsburgh – At University Center (Oakland)^(b)

251

Holiday Inn

Charleston – Mills House (Historic Downtown)^(b)

214

Holiday Inn

Myrtle Beach – At Kingston Plantation^(c)

255

Embassy Suites Hotel

Myrtle Beach Resort^(c)

385

Hilton

Nashville – Airport/Opryland Area

296

Embassy Suites Hotel

Nashville – Opryland/Airport (Briley Parkway)

383

Holiday Inn

Austin^(b)

189

90%

Doubletree Guest Suites

Austin – Central^{(b) (c)}

260

50%

Embassy Suites Hotel

Corpus Christi^(b)

150

Embassy Suites Hotel

Dallas – DFW International Airport-South^(b)

305

Embassy Suites Hotel

Dallas – Love Field^(b)

248

Embassy Suites Hotel

Dallas – Market Center

244

Embassy Suites Hotel

Dallas – Park Central^(c)

536

60%

Westin

Houston – Medical Center

287

Holiday Inn & Suites

San Antonio – International Airport^{(b) (c)}

261

50%

Embassy Suites Hotel

San Antonio – International Airport^(b)

397

Holiday Inn

San Antonio – N.W. I-10^{(b) (c)}

216

50%

Embassy Suites Hotel

Burlington Hotel & Conference Center^(b)

309

Sheraton

Vienna – At Tysons Corner^(b)

443

50%

Sheraton

Canada

Toronto – Airport

Ontario

445

Holiday Inn

Toronto – Yorkdale

Ontario

370

Holiday Inn

FelCor Lodging Trust Incorporated

Supplemental Information

Three Months and Year Ended December 31, 2007

Hotel Portfolio Listing

	State	Rooms	% Owned^(a)			Brand
Unconsolidated Hotels
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 was encumbered by mortgage debt or capital lease obligation at December 31, 2007.

(c)

Renovations are to be completed in 2008. Unless otherwise noted, all the other hotels completed renovations in 2006 or 2007.

(d)

Upon the completion of its renovation, by early 2009, this hotel will be rebranded as a Marriott hotel.

Hotels Sold in 2007

Property	Date Sold	Rooms	Total Gross Sales Price Per Quarter (in millions)
Hotels sold during the quarter ended March 31, 2007:
Los Angeles (Covina/I-10) Covina, CA – Embassy Suites^(a)	Feb 2007	155
Palm Desert (Palm Desert Resort), CA – Embassy Suites	Feb 2007	202
Stamford, CT – Holiday Inn Select	March 2007	198
		555		$	64.7
Hotels sold during the quarter ended June 30, 2007:
Houston (Intercontinental Airport), TX – Holiday Inn	May 2007	415
Dallas (Park Central), TX – Sheraton	May 2007	438
Dallas (Park Central Area), TX – Embassy Suites	June 2007	279
Dallas (West End/Convention Center) TX – Hampton Inn	June 2007	309
Lexington, KY – Sheraton Suites	June 2007	155
Brunswick, GA – Embassy Suites	June 2007	130
Troy – (North - Auburn Hills), MI – Embassy Suites	June 2007	251
Tulsa (I-44), OK – Embassy Suites	June 2007	244
		2,221		$	126.3

(a)

This hotel was sold by one of our 50% owned unconsolidated joint ventures for gross proceeds of $22.0 million.

FelCor Lodging Trust (FCH) Inactive 8-KFelcor Reports 2007 Operating Results