Exhibit 99.1


FelCor Announces Preferred Stock Offering


IRVING, Texas, Mar 29, 2004  /PRNewswire-FirstCall via COMTEX/ -- FelCor Lodging
Trust  Incorporated  (NYSE:  FCH), the nation's second largest hotel real estate
investment  trust (REIT),  today  announced  that it was commencing an offering,
subject to market and other conditions,  of approximately  4,000,000  additional
shares of its $1.95  Series A  Cumulative  Convertible  Preferred  Stock  (NYSE:
FCHPRA).  The offering is being made pursuant to an effective shelf registration
statement  previously  filed with the  Securities  and Exchange  Commission.  In
connection   with  the  offering,   FelCor  will  grant  the   underwriters   an
over-allotment option to purchase up to an additional 600,000 shares of Series A
preferred stock.


The proceeds of the offering,  estimated to be approximately  $98 million before
any  exercise  of the  underwriters'  over-allotment  option,  will be used  for
general  corporate  purposes,  which may  include  investments  in  existing  or
additional  hotel assets,  the retirement of debt and/or  additional  liquidity.
Citigroup  and Bear,  Sterns & Co. Inc.  will be joint lead  managers  and joint
bookrunners  for the offering,  and Deutsche Bank Securities and Legg Mason Wood
Walker, Incorporated will serve as co-managers.


This press release shall not constitute an offer to sell or the  solicitation of
an offer to buy nor shall there be any sale of these  securities in any state in
which such offer,  solicitation  or sale would be unlawful prior to registration
or  qualification  under  the  securities  laws  of  any  state.  Offers  of the
securities  will be  made  only  by  means  of a  prospectus  supplement  and an
accompanying  prospectus,  copies of which may be  obtained  from the offices of
Citigroup Global Markets Inc., 338 Greenwich Street, New York, NY 10013.


This press release contains  information about pending  transactions,  and there
can be no assurance that these transactions will be completed.


SOURCE FelCor Lodging Trust Incorporated


Richard  J.  O'Brien,  Executive  Vice  President  &  CFO,  +1-972-444-4932,  or
robrien@felcor.com  , or Stephen Schafer,  Vice President,  Investor  Relations,
+1-972-444-4912, or schafer@felcor.com , or Monica L. Hildebrand, Vice President
of Communications,  +1-972-444-4917,  or  mhildebrand@felcor.com , all of FelCor
Lodging Trust Incorporated