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UPDATE 1-FelCor fourth-quarter FFO rises 57 percent

Wed Feb 21, 2007 7:11pm EST

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(Adds outlook, details)

LOS ANGELES, Feb 21 (Reuters) - Hotel real estate investment trust FelCor Lodging Trust Inc. (FCH.N) said on Wednesday that quarterly funds from operations rose 57 percent, helped by higher room revenues in most of its major markets.

Fourth-quarter funds from operations, a closely watched measure of health for hotel REITs, rose to $21 million, or 33 cents per share, compared with $7.6 million, or 21 cents per share, a year earlier.

Wall Street analysts, on average, has expected FFO of 31 cents a share.

Revenue rose 4.6 percent to $232.9 million.

Revenue per available room, a key measure of hotel financial performance known as revpar, rose 3.4 percent compared to the same 2005 period.

Looking ahead, Felcor said it expects FFO of $2.30 to $2.40 for full-year 2007 and 42 cents to 44 cents a share for the first quarter.

Analysts have forecast FFO of $2.29 for the full year and 47 cents a share for the first quarter.

The company also said it expects revpar to increase by 6.5 percent to 7.5 percent for the full year at by about 2 percent in the first quarter.

Shares of Felcor, which rose 6 cents to close at $23.09 on the New York Stock Exchange, were not trading after hours.



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