FelCor Lodging Trust Incorporated announced the acquisition of the landmark Knickerbocker Hotel in midtown Manhattan, New York, for $115 million. FelCor formed a joint venture with an affiliate of Highgate Holdings LLC which acquired the Knickerbocker Hotel in midtown Manhattan, New York. The four-plus star hotel will feature approximately 330 large guest rooms (average in excess of 420 square feet), several food and beverage outlets – including a large rooftop sky bar and lounge directly overlooking Times Square – state-of-the-art meeting space, and a full-service fitness facility.

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