On March 31, 2009, FelCor/CSS (SPE), L.L.C., a subsidiary of FelCor Lodging Trust Incorporated (the "Company") and FelCor Lodging Limited Partnership (the "Partnership"), entered into a Loan Agreement (the "Loan Agreement") with The Prudential Insurance Company of America providing for a loan in the original principal amount of up to $120 million (the "Loan"). The Loan has a term of five years and bears an annual interest rate of 9.02 percent. The Loan Agreement includes rights to prepayment and partial release of properties, subject to certain conditions, and is subject to acceleration upon the occurrence of certain events of default. The Loan is secured by first priority mortgages on seven hotel properties directly owned by the borrower and is nonrecourse to the borrower, except for certain customary carveouts for which the borrower may have recourse liability. The Company and the Partnership are the jointly and severally liable for the recourse liability of the borrower under the Loan Agreement. The proceeds of the Loan were used to repay the balance of approximately $116 million on an existing loan with Prudential secured by the same properties that would have matured on April 1, 2009.

On March 31, 2009, pursuant to the terms of the Loan Agreement, certain subsidiaries of the Company and the Partnership incurred direct financial obligations in the amount of up to $120 million. See Item 1.01 above, which is incorporated herein by reference.

On March 31, 2009, the Company issued a press release announcing the closing of the Loan. A copy of the press release is attached as Exhibit 99.1 to this Current Report and is incorporated by reference herein.

(d) Exhibits

                   Exhibit
                   Number    Description of Exhibit

                   99.1      Press Release dated March 31, 2009